April 17, 2020
- Singapore Court Orders Lockdown on Crypto Exchange KuCoin’s Web Domain
- $160M Raised By Australia’s ‘Big Four’ Banks for Crypto Fintech Unicorn
- U.S outlines an aggressive set of countermeasures to counter North Korea’s Alleged Crypto Crimes
- Breaking News: Is China Forging Ahead With A National Crypto Project? [Leaked Screenshots]
Bitcoin up to 7k! [10% increase]
Singapore Court Orders Lockdown on Crypto Exchange KuCoin’s Web Domain
The main web domain of cryptocurrency firm KuCoin, has been locked since the end of March by order of Singapore’s Supreme High Court. On March 24, the court issued a temporary injunction barring KuCoin from moving its assets which includes locking its website access from the country. KuCoin is a crypto exchange founded by CEO Michael Gan, in September 2017. It was said to have achieved over 5 million users in 100 countries within a year. KuCoin also claimed that it had secured $20 million in Round A funding from venture capitalists – IDG Capital, Matrix Partners and Neo Global Capital.
$160M Raised By Australia’s ‘Big Four’ Banks for Crypto Fintech Unicorn
Airwallex, the Australian Fintech Unicorn and RippleNet member, raised $160 million in a fundraising round led by the investment arms of Australia’s ‘Big Four’ banks. ANZ, Tencent, DST Global, and Horizons Ventures participated in the round and brought the total amount raised up to $362 million as of April 16. Airwallex will be looking into expanding its global market, with Europe and the United States as its next target field. They had also launched offices in Tokyo, Bangalore, and Dubai in 2019.
U.S outlines an aggressive set of countermeasures to counter North Korea’s Alleged Crypto Crimes
The U.S. departments of State, Treasury and Homeland Security plus the Federal Bureau of Investigation (FBI) argued that there had been a cutting in the Hermit Kingdom’s money flow said to be worth billions of dollars raised over the past two years including $1.5 billion in crypto used as development of weapons of mass destruction. The government was strongly encouraged to strengthen their security. This includes implementing tough anti-money-laundering frameworks for digital currency in hopes to expel North Korean IT workers. However, the North Korean government has strongly denied allegations of stealing up to $2 billion dollars in fiat and crypto, calling the accusations “nothing but a sort of a nasty game.”
Breaking News: Is China Forging Ahead With A National Crypto Project?
Could China be finally rolling out its national crypto project? Although the trading of cryptocurrencies have been banned and restricted in the country, the chinese government has continued to maintain heavy involvement in the crypto industry. In the beginning of the year, President Xi Jin Ping labelled the blockchain adoption as an “Important breakthrough for independent innovation of core technologies” and just this week, local reports also revealed that one of the nation’s biggest commercial banks, Agricultural Bank of China has begun to test a possible national digital currency project.
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