Prime Trust Enters Crypto Custody Race, Will Hold ‘Any’ Ethereum Token

Prime Trust, a small U.S. financial institution that’s played a behind-the-scenes role in several dollar-backed cryptocurrencies, is entering the hotly competitive crypto custody business. Revealed exclusively to CoinDesk, the Nevada trust company quietly began offering cold storage for bitcoin in mid-July, and will announce next week that it can also handle custody for ether and any token issued on the ethereum blockchain under the ERC-20 standard.  Such services are in demand among institutional investors, who despite the bear market find crypto’s returns alluring, but don’t want the bother of protecting the…

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In Rare Decision, ICO Founders Will Wait 10 Years for Crypto Paydays

In an industry that’s become synonymous with fast cash, patience can be a rare commodity. That makes a little-discussed announcement last week by the Nebulas project, powered by the top 100 cryptocurrency NAS, all the more remarkable. The team behind the protocol, today valued at $64 million, will now voluntarily wait a decade before they can get their hands on the blockchains’ tokens they’ll earn for their labor – seven years longer than they had originally planned. In December, the Beijing-based team raised $60 million in an initial coin offering…

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Regulated Trader Templum Hosts Security Token Sale for Luxury Resort

Token trading platform Templum Markets has launched a sale of a security token on behalf of a popular Colorado resort. Accredited investors can now indirectly own shares in the St. Regis Aspen Resort by purchasing so-called “Aspen coins” through the regulated broker, the company announced Wednesday. Templum will accept U.S. dollars, bitcoin and ethereum from investors looking to own shares in the company. Aspen coins represent shares in the resort through a holding company, according to a press release. In other words, each token is backed by the resort itself,…

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Public Firm Becomes First to Launch an ICO in Singapore

An e-commerce platform that recently launched a token sale aimed to raise $50 million has become Singapore’s first public firm to hold an ICO. Y Ventures Group, which went public on the Stock Exchange of Singapore last year, announced a plan for creating a blockchain-based e-commerce system in July and sent the sale of its AORA token live at the end of the same month. According to the firm, the tokens do not represent ownership of equity in the firm and, as such, should not be regarded as securities – a move…

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Now a Nearly $1 Billion Blockchain, Tezos Is Slowly Building Up Its Security

The number of Tezos bakers is on the rise. The protocol’s term for a validator (its equivalent of bitcoin’s miners), bakers are crucial to ensuring the nascent network’s security. And that’s all the more necessary given the value of the funds at stake. Since raising $232 million in 2017, the protocol has had a very bumpy path to getting off the ground. Once live, though, it’s become a top 20 blockchain by market capitalization, with a valuation consistently above $1 billion. Furthermore, there’s been little out of the ordinary happening…

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Tezos ICO Class Action Looms After Motion to Dismiss Denied

A federal court judge in California has blocked a move that sought to dismiss a class action lawsuit alleging that the initial coin offering (ICO) conducted by the Tezos Foundation violated securities laws in the U.S. The decision came Tuesday, as District Judge Richard Seeborg denied the motion filed by the Tezos Foundation and the cryptocurrency’s founding couple Arthur and Kathleen Brietman, as well as their U.S.-based company Dynamic Ledger Solutions (DLS). As previously reported, the Tezos Foundation and DLS were facing four class action lawsuits following their ICO that…

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Crypto ICO Metronome Raises $12 Million in Unconventional Auction

Metronome supporters waited until the very end to buy the last available tokens. As opposed to traditional ICOs, which have sought to reward early buyers, Metronome’s sale, completed Tuesday, was notable for seeking to sell its tokens at a progressively lower price each minute for up to seven days. Buyers let the auction run 6 days, 23 hours and 40 minutes, according to a post-mortem post by the team. In total, the project sold 8 million MET tokens for 26,502.21 ETH – which the post valued at $12.1 million (approximately…

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Regulators Plan ‘Global Sandbox’ for FinTech Including Blockchain

A number of financial regulators from across the globe are forming a new alliance to facilitate the growth of financial technologies such as blockchain and distributed ledger technology (DLT). The U.K.’s Financial Conduct Authority (FCA), which spearheaded one of the world’s first fintech sandbox programs, announced the Global Financial Innovation Network (GFIN) initiative on Tuesday, alongside 11 other member regulators from jurisdictions such as Hong Kong, the U.S., Australia and Abu Dhabi. GFIN will primarily serve as a network of regulators to discuss policies regarding financial technologies, the statement indicates,…

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Where Have All the Augur Users Gone?

The day Augur launched it breezed into the rankings of top ethereum dapps by daily active users – but the momentum didn’t last long. Released on July 10, Augur allows users to create and bet on prediction markets tied to real-world events, such as World Cup games, elections and – unfortunately – murders. Having waited three years for Augur to be developed and tested, users rushed to try it out, briefly pushing it past the most famous dapp, CryptoKitties, in terms of users. It’s worth noting that dapp userbases are…

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