The top news in the last 24 hours are shown below:

Vitalik Buterin: If the Price is Zero, Then the Network Can’t Be Secure

In his opinion, the Ethereum price has a strong influence on the entire market. He explained his position the following way:

“In part, it was counter-signaling to distinguish [Ethereum] from other crypto projects that do pumping and lambo-ing way too much. But also it was about minimizing the legal risk by basically trying to make the project seem more distant from something that would be covered by financial regulation.”

Vitalik Buterin Allegedly Cashed Out $40 Million ETH Tokens In Early 2018

There’s an interesting revelation by Alex Sunnarborg, a founding partner of the crypto hedge fund Tetra Capital, who states that Ethereum co-founder Vitalik Buterin cashed out $40 million worth of ETH tokens between June 2017 and February 2018. Note that Ethereum (ETH) was trading at its all-time high during Jan-Feb 2019. Sunnarborg found these details after digging into the historical account data of Vitalik Buterin. Buterin is reportedly holding 350,000 ETH in his main wallet address.

Lower House of Switzerland’s Federal Assembly Passes Cryptocurrency Regulations Motion

Switzerland’s Federal Assembly has recently supported a vote in favor of establishing cryptocurrency on an equal legal footing with traditional assets. However, some questions have been raised over whether this proposal actually mitigates any risks.

Bitcoin: $400k Is Possible At Next Bull Run According To Analyst

Bullish predictions are everywhere in crypto, from John McAfee’s one-million-dollar prediction for bitcoin – which famously has the fate of his manhood riding on it – to $740,000 from mining pools, to $250,000 from Tim Draper, to more humble predictions of anything from around $30,000 to $50,000. A more adventurous prediction has come from Naeem Aslam, a crypto analyst working for Think Markets, an online asset brokerage based in London, who has said he sees anything between $100,000 and $400,000 as a feasible target for the next crypto bull run.

China Favors Tron and EOS in New Crypto Ranking but Downgrades Bitcoin

China’s Center for Information and Industry Development has released its latest crypto project ranking. Tron and EOS top the list out of the 35 crypto projects evaluated while Bitcoin has been downgraded slightly. The center also evaluated the projects independently based on basic technology, applicability, and creativity.

China’s Alibaba Partners With Chinese Software Giant to Promote Blockchain Development

Chinese e-commerce conglomerate Alibaba and Aerospace Information Co., a major software developer and provider, have signed a strategic cooperation agreement for cloud computing, blockchain and other technological services development. Chinese finance publication Securities Daily reported on the deal on March 21.

“In the field of blockchain, we will jointly provide cloud solutions to promote the development of the blockchain industry.”

Report: Bitmain Plans to Set Up 200,000 Crypto Mining Machines in China

Cryptocurrency mining giant Bitmain is reportedly planning to set up 200,000 units of mining equipment in China to benefit from low-cost hydroelectric power in the country, crypto media outlet CoinDesk reported on March 21.

UPS Integrates Blockchain Platform to Improve Merchant Supply Chains

Major American postal carrier UPS and e-commerce technology company Inxeption have jointly rolled out a blockchain-powered platform to improve merchant supply chains. The development was announced in a press release published on March 21.

Blockchain in Biometrics Could be Used in Travel Security, US Customs Rep Says

Using blockchain for biometric tracking would be the technology’s killer app in the travel security sector, according to a representative from the United States Customs and Border Protection (CBP) agency. The news was reported by travel industry media outlet Skift on March 21.

“One area we’ve seen a significant amount of success in is facial comparison and biometric data. There is a service we’ve created to verify who an individual boarding an aircraft who is as they’re seeking admission into the United States. If we could have more data for the verification from another government party, that would be really great for us.”

Bakkt Gets $740 Million Valuation But Investors Have Questions, Sources Reveal

Intercontinental Exchange’s to-be-launched institutional trading platform Bakkt has earned a $740 million valuation after it raised over $180 million in funding last year, anonymous sources told cryptocurrency industry news outlet The Block on March 21.

“A lot of things will need to line up for investors to receive returns that they would typically expect for a Series A.”

Japan: SBI Group Sets Up Spin-Off to Manufacture Crypto Mining Chips

Japanese financial giant SBI Group has created a dedicated subsidiary that will manufacture cryptocurrency mining chips, the company confirmed in a notice on March 22.

“The Group has practiced its cryptocurrency mining business […] overseas and has now decided to expand its business scope to the manufacturing of mining chip itself and development of mining systems, through SBIMC.”