May 16, 2021

Cryptheory

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Crypto News of the Day (4.3.)|Bitcoin is now legal in Germany and France • Bloomberg: Bitcoin has failed as a haven • and other news

4 min read
Crypto News of the Day (4.3.)|Bitcoin is now legal in Germany and France • Bloomberg: Bitcoin has failed as a haven • and other news

Here you can find an overview of the most important events that took place during the last day in the cryptoworld.

Markets

 

Cryptomarkets continues to grow today. Bitcoin has retained $ 9,000 and is now above $ 9,100 and is still growing. The market capitalization of cryptocurrencies also rose to $ 261 billion, with the BTC doing $ 166 billion. In China, production seems to be slowly recovering and financial markets are also recovering after central bank intervention.

 

You can monitor the current cryptocurrency prices – here.

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Cryptocurrency

 

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Cryptocurrency exchanges, Banks

 

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Blockchain, Technology

 

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Scams

 

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Bitcoin is now legal in Germany and France

 

As reported by Les Echos, Bitcoin now has the official status of money in France. BTC was acknowledged by the court in a decision regarding cryptocurrencies in late February but was made public only now. The aforementioned verdict was made by the Commercial Court of Nanterre – BTC was acknowledged to be a fungible intangible asset, similar to a fiat currency.

 

A lawyer Hubert de Vauplane from Kramer & Levin says that this decision now permits Bitcoin to be legally used as money. So it should spur the number of Bitcoin transactions in France – lending, trading, repo, etc, and, thus, turn the crypto market into a more liquid one. Earlier, Bitcoin made headlines with news that Germany had become the first country in Europe to give Bitcoin legal status and acknowledge it as ‘private money’ and a financial tool.

 

Bloomberg: Galaxy Crypto Index is at an important turning point, Bitcoin failed as a haven

 

The Bloomberg Galaxy Crypto Index has been around the tipping point for several days. The index, which monitors the main cryptocurrencies and now, according to analysts, depends on its further movement, in which direction the cryptotrhy will go. According to Bloomberg analyst, Bitcoin has failed as a safe haven during the last month of severe financial market turmoil, losing 5% in the last month.

 

“Cryptocurrencies had some moments over the past year when one could argue it was a safe-haven trade, but that is definitely not the case now,”

 

BitGo announced the opening of a crypto credit platform with 150 million USD

 

Crypto custody provider BitGo has been quietly building out a lending business, the latest company to throw its hat in the ring of a growing market. New business will be a separate legal entity, christened BitGo Prime LCC. The name hints at BitGo’s ambitions to build out a full-scale prime broker, which in addition to offering its bread-and-butter custody services, will also cover trading and lending, according to people familiar with the situation. 

 

As for the latter, the firm has built up a loan book of $150 million, a fraction of the approximately $500 million books operated by incumbents such as Genesis Global Trading and BlockFi.

 

Red Swan tokenized top real estate for $ 2.2 billion

 

Texas-based Commercial Real Estate (CRE) marketplace Red Swan has tokenized $2.2 billion worth of real estate assets in partnership with security tokenization firm Polymath. Red Swan said it has 30,000 accredited investors already registered to use its platform, and has plans to tokenize a further $4 billion in property over the longer term. Red Swan will profit by keeping a percentage of the equity sold.

 

The issued tokens represent 16 top-tier properties including mid-rise and high-rise apartments in California, New York, and Texas, and a 150-acre hemp farm in Canada’s Ontario province. Tokens worth $780 million will be sold in a pre-sale to accredited investors in what is believed to comprise the world’s largest sale of tokenized real estate to date.

 

DaperLabs announced the launch of Flow Playground for developers

 

On March 5, CryptoKitties creator Dapper Labs announced the launch of Flow Playground — an interactive interface that lets developers experiment with developing applications on the company’s Flow blockchain. Developers are able to write and run smart contracts, and will be able to explore Dapper Labs “new resource-oriented programming language” Cadence. The language is designed to simplify programming tokenized assets and includes features from Swift and Rust. Flow Playground also lets users create non-fungible tokens, mint fungible tokens, and build a marketplace.

 

Since launching Flow, Dapper Labs has inked several partnerships with major entertainment corporations to create tradeable blockchain-based merchandise. For exaple Warner Music. On Feb. 26, 2020, Dapper Labs announced it would work with the UFC to launch blockchain-based assets accompanying a blockchain game for mixed martial arts fans. The game will allow fans to own “tokenized representations of their favorite fighters,” which they can then train and level up.

 

266,000 passwords were stolen from the Trident Crypto Fund

 

In a major privacy breach, the usernames and passwords of more than a quarter of a million Trident Crypto Fund customers have been stolen and published online. Technical director of cybersecurity firm DeviceLock Ashot Oganesyan told Russian news outlet IZ the database — which contains email addresses, cellphone numbers, encrypted passwords and IP addresses — had been uploaded to various file sharing websites on February 20.

 

Earlier this week, hackers decrypted and published close to 120,000 of the passwords, potentially enabling them to log into affected users’ accounts and access their funds.

 

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