Bitcoin’s mining way of measuring or gauging of how hard it is to compete for mining rewards (in short, Mining Difficulty) has been foreseen to climb to more than 3% during the next correction by today. As per the analyzed data from BTC.com, the mining difficulty will reach a fresh all-time high of 19.96 T, impending the never-before-seen 20 T, as BTC hashrate, or computing power of the network, has also called it’s recent all-time high this week. Now, that’s something to ponder about your BTC this weekend.
London-based, the Financial Conduct Authority (FCA)-regulated, digital securities exchange Archax said it has fortunately closed overfunded seed raise, rendering the regulatory capital and runway required to launch. As claimed by the press release, the company secured financing summing $8 million, after stretching the raise, initially targeting USD 5m. Among the investors are VC firms Alameda Research, Amnis Ventures, Bridgetower Capital, CoinFund, Edge196, Hudson Capital, QBN Capital, and 7percent Ventures.
The central Bank of Korea (BOK) said it is not procrastinating behind other countries when it comes to timeframes for central bank digital currency (CBDC) issuance. According to Herald Kyungjae, the BOK governor, Lee Ju-yeol, declared that the digital won would be ready to pilot next year and dropped claims that the bank was now lagging behind China in the tech race. He stated, “The speed of the BOK’s CBDC research and future plans are not behind other nations.” He also opined that China would be able to dispense its digital yuan faster than others as there are so few e-payment systems in operation in the country. Lee continued that while WePay and Alipay usage were widespread in China, these two platforms are predominantly used by younger customers – a fact that had driven up the need to speed up issuance in the nation.
Crypto Adoption News
Crypto-keen chat app operator Line has initiated a crypto promotion to tie in with its e-pay operations in Japan. The firm said it would give out around USD 20 worth of its token, link, in place of rewards points for new VISA-issued Line Pay e-pay card customers. Per IT Media, the offer runs until the end of the month. Line earlier this year won regulatory permission from the Japanese authorities to list the link token on its exchange, Bitmax. The exchange is linked to the Line chat app – an app that has over 80m active monthly users in the country.
Coinbase said it would sponsor at least two Bitcoin developers who contribute directly to the Bitcoin Core codebase or closely associated Bitcoin projects, with first Crypto Community Fund grants. Per the announcement, the proposals will be shortlisted by current Bitcoin Core developers and several community members, while Coinbase will be making the final decision.
Bitcoin.com Exchange and global interactive entertainment and multiplatform licensing group Atari have published the features of the public sale of the Atari Token (ATRI), scheduled for October 29, 2020, after which the token will be listed on Bitcoin.com. The price per Atari Token has been set at USD 0.25 with a hard cap for the public sale of USD 1m. Atari said it’s creating a blockchain-based ecosystem anchored around the Atari brand, which includes a token of reference for the videogame industry, access to platforms, and users via atarichain.com, and the Atari wallet.
John Russ, Coinbase Global Marketing Head, matured to be the freshest staff to leave the notable US crypto exchange. As claimed in his tweet, he decided CEO Brian Armstrong lately stated Coinbase’s apolitical policy, offering a severance package to those who disagreed and wished to leave the firm.
Upbit Indonesia, a subsidiary of South Korea’s market-leading Upbit crypto exchange, has built a joint-venture consortium that said will launch a cryptoasset futures exchange. Per Digital Today, the new project will be named the Digital Futures Exchange and will see Upbit Indonesia team up with Indonesian firms Kliring Berjangka Indonesia, the Jakarta Futures Exchange, and Bappebti – companies that have received official recognition from the Indonesian commodity futures trading regulator. The group of companies said they hoped to enlist more partners before the end of this month and would be seeking regulatory approval for their new exchange.
Bitstamp said it had raised the insurance offered to their customers with an additional crime insurance policy. This insurance policy comprises several crime-related cases, such as employee theft, and different types of loss. It is offered by specialist insurance brokers, Paragon International Insurance Brokers, in cooperation with Woodruff-Sawyer, and it’s underwritten by various insurance companies and certain syndicates at Lloyd’s of London.
The Centre Consortium, an entity secured by Circle and Coinbase to maintain USD Coin (USDC), has stated that Stellar (XTZ) has become a different official blockchain for USDC. As claimed by the disclosure, the coin is assumed to be available on Stellar in the first quarter of 2021.