The top news in the last 24 hours are shown below:
Suspected Critical Coinomi Wallet Vulnerability Discovered, Users Reportedly Lose Life Savings as Result
An alleged vulnerability with Coinomi’s multi-asset wallet has recently been causing somewhat of a stir on Reddit. According to reports, Coinomi has refused to take responsibility for the vulnerability, and several people have already been affected. Coinomi wallet sends your plain text seed phrase to Googles remote spellchecker API when you enter it!
Samsung Confirms Galaxy S10 Bitcoin and Ethereum Support, Announces Crypto Partners, Full ERC20 Support Rumored
The Samsung Galaxy S10 is quickly making some waves in the cryptocurrency sector, as it comes closer to release. Now, Samsung officials have revealed more specific cryptocurrency wallet functions for the South Korean tech giant’s new flagship.
China Releases Fresh Ranking for Crypto Projects
The People’s Republic of China’s Center for Information and Industry Development (CCID) published its latest crypto project ranking: the Global Public Blockchain Technology Assessment Index. Thirty-five projects were taken into account. EOS maintains the top spot, Ethereum ranks third, Bitcoin moves up two notches to occupy the 13th place, and Bitcoin Cash takes the 27th rank. Projects that achieved the best overall improvement are Nano, Verge, and Qtum.
JPM Coin Could Become Commercial and Be Used for Retail Payments, Says Jamie Dimon
According to J.P. Morgan CEO Jamie Dimon, their controversial JPM Coin created for institutional clients could have a consumer use one day. With the help of the coin, tokenized fiat can be transferred instantly and confidentially. It means that now network participants do not need to wait for two days for payments to clear which is said to enhance the client experience.
Tech Glitch at CME Group Halts Trades at All Markets Including Crypto
Electronic trading across CME Group Inc.’s futures markets resumed late Tuesday after technical problems triggered an hourslong trading halt. The problem started at 7:39 p.m. Eastern time and trading across all markets on CME’s electronic platform was halted about 28 minutes later. The exchange had previously said via Twitter that all CME Globex markets had been halted due to technical issues.
Lending Fintech SoFi Moves into Crypto Through a Partnership with Coinbase
Having entered in a partnership with Coinbase, fintech startup SoFi is going to launch crypto trading services which are said to become available by the second quarter of 2019. Founded in 2011, SoFi (which is an abbreviation for Social Finance) is a startup headquartered in San Francisco. At that time it was focused on student-loan refinancing. But later it began expanding its offerings. Its target audience is millennials who are open for innovations and understand the value of high-tech financial solutions. Today SoFi offers young adults a wide range of financial products including lending.
SBI CEO: ‘Every Bank In Japan Will Use Ripple’s XRP By 2025’
Ripple‘s XRP token currently bears further uplifting news as SBI, which is a Ripple enthusiast, has planned to have a few banks in Japan and utilize the token by the 2025 Osaka Expo. The Strategic Business Innovator Group (SBI) is one of the most significant financial services firm in the world. The Groups companies and businesses are typically held at SBI Holdings. Based in Tokyo, Japan, the CEO of the company, Yoshitaka Kitao has recently said earlier in February that SBI VCTrade will go live next month in March.
QuadrigaCX Director Asks Court to Appoint Restructuring Officer
Jennifer Robertson — the current director and widow of the founder of now-shuttered Canadian crypto exchange QuadrigaCX — has asked a Canadian court to appoint a chief restructuring officer (CRO) to handle proceedings in the aftermath of the exchange’s controversial closure. In an affidavit filed with the Supreme Court of Nova Scotia on Feb. 25, Robertson further requested that the court grant a stay of proceedings extension of the current period of creditor protection.
Russian Supreme Court Classifies Illicit Crypto Use Under Money Laundering Laws
The Russian Supreme Court has included the illicit use of cryptocurrencies in the list of criminal offences related to money laundering, local legal news site Pravo reported on Tuesday, Feb. 26. The court has introduced new amendments to the anti-money laundering (AML) decree issued in July 2015. These clarifications relate to Russian criminal code articles dedicated to the legalization of property acquired via illegal means.
Token Sale on Binance Launchpad Raises $6 Million Within ’22 Seconds’
The Fetch.AI (FET) token sale on top crypto exchange Binance’s Launchpad platform closed yesterday, Feb. 25, reaching its hard cap of $6 million with the sale of over 69 million tokens. In a tweet published the same day, Binance CEO Changpeng Zhao — known in the industry as CZ — reported the sale had been completed within a dizzying 22 seconds.
Survey: 48% of Execs Expect Blockchain to Change Their Business in Three Years
A study by Big Four audit company KPMG shows that 48 per cent of C-level executives believe blockchain is likely to change the way they do business in the next three years. The results of the poll were shared with Cointelegraph on Feb. 26. KPMG has conducted its Technology Industry Innovation Survey for the seventh time from December 2018 to January 2019. It includes responses from over 740 global tech entrepreneurs from 12 countries. Sixty-six per cent of the respondents were C-level executives.
Bahrain Central Bank Releases First Crypto Exchange to Graduate Its Regulatory Sandbox
Bahrain-based Shariah compliant cryptocurrency exchange Rain has first completed the Central Bank of Bahrain’s (CBB) Regulatory Sandbox, the Saudi Gazette reported on Feb. 26. Rain, which was founded in 2016, has reportedly become the first digital currency exchange for completing the sandbox. The exchange reportedly passed a Shariah compliance certification today, Feb. 26, which was led by a leading Sharia consultancy and audit firm licensed by the central bank of Bahrain, the Shariyah Review Bureau (SRB).
Indian Institute Rolls Out Advanced Program on FinTech and Blockchain
The Indian Institute of Management (IIM) Calcutta and training platform TalentSpirit are jointly offering an advanced programme in fintech and blockchain technology, local news outlet The Asian reported on Feb. 26. The new program scheduled for this May is reportedly targeted at management and finance professionals aiming to educate participants on financial technologies growth and its potential impact on the banking and financial ecosystem.
Russian Ministry of Transport to Pilot IBM–Maersk Blockchain Platform
The Russian Ministry of Transport is reportedly planning to trial blockchain shipping solution TradeLens developed by IBM and Maersk, Russian financial media Kommersant reported on Tuesday, Feb. 26. Kommersant received a copy of an official letter addressed to Russian Deputy Prime Minister Maxim Akimov, who oversees transport policy. According to the document, the Ministry of Transport and its subsidiary will sign a memorandum of understanding with Maersk to launch a pilot of TradeLens in Russia’s second largest port, the Big port of St. Petersburg.
Report: Ripple Violates Coinbase’s Listing Rules
Ripple (XRP) is reportedly violating one of Coinbase’s listing rules, even though the cryptocurrency exchange added support for the altcoin on its Pro platform. A Feb. 26 report by blockchain research firm Diar states that XRP breaks one of Coinbase’s requirements to be listed on the platform. Explicitly, in its “Digital Asset Framework,” Coinbase states that “the ownership stake retained by the team is a minority stake,” while, according to Diar, Ripple holds around 60 per cent of the supply in escrow with a release schedule.
IOTA Launches Hackathon Smart City Contest Sponsored by Groupe Renault
The IOTA Foundation has announced the Smart City Hackathon sponsored by French global automobile manufacturer Groupe Renault, Cointelegraph auf Deutsch reports Feb. 25. At the hackathon, participants will compete by using new technologies to solve inter-city problems submitted by corporate partners. Contestants will use distributed ledger technology (DLT) to develop more efficient transport, energy grids and buildings.
Turkish Telecom Giant Turkcell Introduces Blockchain ID Management Product
Istanbul-based telecommunication services provider Turkcell has introduced a blockchain-based service for ID management, news outlet Daily Sabah reported on Feb. 26. Turkcell reportedly announced its new blockchain product at the technology fair Mobile World Congress (MWC) 2019 on Feb. 25. The ID Management solution is designed to provide users with control over their personal information and ensure privacy under the General Data Protection Regulation (GDPR) requirements.
Report: Sony and Fujitsu Develop Blockchain Platform to Fight Fake Educational Qualifications
Japanese multinational conglomerate Sony and IT equipment services firm Fujitsu have created an encrypted database for educational proficiency documents, The Asahi Shimbun reports on Feb. 26. The database, which reportedly employs blockchain technology, is used to prevent forgeries of language proficiency documents, which some foreigners purportedly use to receive resident status to study in Japan.
Litecoin Foundation Partners With Glory Kickboxing to Make LTC League’s Official Crypto
The Litecoin Foundation is partnering with premier kickboxing league Glory to become the official cryptocurrency for its online merchandise platform and international events. The news was announced in an official press release from Litecoin on Feb. 26. Glory — which has signed top kickboxing heavyweights including “Dutch Lumberjack” Peter Aerts and Remy Bonjasky, aka “The Flying Gentleman” — will integrate Litecoin (LTC) into its online merchandise store, gloryshop.com.
London Stock Exchange Leads $20 Million Investment in Finance Tokenization Startup
The London Stock Stock Exchange Group (LSEG) has led a $20 million investment round in fintech startup Nivaura, Reuters reported on Feb. 27. The British blockchain startup is the developer of the world’s reportedly first crypto-denominated, blockchain-settled bond. According to Reuters, LSEG paid an undisclosed amount for a minority equity stake in Nivaura. The startup provides blockchain solutions that automate the issuance, clearing and settlement of financial instruments, including bond issuance and tokenized securities.
Report: The National University of Singapore and Chinese Tech Firm to Research Blockchain
The National University of Singapore (NUS) will work with a Chinese tech company to research and develop blockchain solutions, the Communist Party of China’s official news outlet, People’s Daily Online, reported on Feb. 26. As part of a blockchain and big data seminar held in the city of Chongqing in Sichuan Province, NUS will collaborate with local business Chongqing Jinwowo Technologies (CJT) on innovations that also include big data and artificial intelligence (AI).
Pangea Blockchain Fund Debuts With $22 Million Round Supported by Roger Ver
Pangea Blockchain Fund has debuted its blockchain fund, securing $22 million with key investors including Bitcoin.com CEO Roger Ver, according to a press release on Feb. 27. Switzerland-based Pangea Blockchain Fund is targeting the development of transformative blockchain-driven solutions and expects the total fundraising to be capped at $200 million.
125-Year-Old Swiss Bank Julius Baer Enters Cryptocurrency Market
Julius Baer, the 125-year-old Swiss private bank, has announced a partnership with cryptocurrency banking startup Seba Crypto AG. The bank did not release details of the agreement but stressed that it was responding to increasing demand from customers for the capability to store, trade and invest in crypto assets.
Wirex Introduces Global Crypto Accounts for Businesses
With the beta launch of crypto and fiat-enabled business accounts, crypto payments platform Wirex had taken a significant step toward mainstream business acceptance. Using a cryptocurrency business account will eliminate the need to convert to fiat unnecessarily during inter-company fund transfers, validate crypto businesses on the broader marketplace, and offer some of the benefits traditional bank accounts provide business users.