Crypto Emerging Itself From A Wave Of Obstacles

Crypto Companies
Cryptocurrency Emerging

May 29, 2020

  1. $103 Million Bailout Rejected for Crypto Companies Affected by Coronavirus
  2. Russia’s Biggest Bank Is Buying 5,000 Crypto Mining ATMs!
  3. Samsung Places a Double Down On Bitcoin!
  4. Arica Utilizing Crypto To Path Its Way To A Economic Recovery

$103 Million Bailout Rejected for Crypto Companies Affected by Coronavirus

Image Source: Cottonbro,Pexel

Switzerland’s government has rejected a 100 million franc ($103 million) bailout for local cryptocurrency companies battered by the coronavirus economy, local media reported. As a whole, the “Crypto Valley” had more than 800 companies with over 4,000 employees.

While startups are generally threatened by the Covid-19 impact on the economy, Cypto Valley’s loss of venture capital constitutes an underlying condition. The once-flourishing Swiss cryptocurrency industry is struggling to survive following the withdrawal of private equity investors. 

Zug finance director Heinz Taennler requested the special funding package in April. The package proposal was then rejected as the majority of the government officials were reportedly not too enthused about the future of the crypto industry.

Source: Bitcoin.com | Image Source: 

Russia’s Biggest Bank Is Buying 5,000 Crypto Mining ATMs!

Bitcoin ATM
Image Source: CNN

Russia’s largest bank, Sberbank, has called for tenders to provide 4,917 ATMs with a built-in graphic card capable of supporting “blockchain operations”. It operates 14,200 branches and 77,000 ATMs across the country. Sberbank is Russia’s oldest and largest bank and holds almost 44% of all personal deposits in the country. He is known to be a big proponent of new technology, including blockchain. Cointelegraph spoke with two experts who said the most obvious use case for a blockchain optimized graphics card is mining cryptocurrency.

Source: Cointelegraph | Image Source: 

FESSChain Grand Trading Fest: Stand a chance to win BMW and Prizes Worth up to $100,000

Samsung Places a Double Down On Bitcoin!

Bitcoin Samsung
Image Source: MOHI SYED,Pexels

Samsung has become an early leader in smartphone bitcoin and cryptocurrency support after introducing the Blockchain Keystore last year—a move that could boost ailing bitcoin and crypto adoption.Samsung’s Blockchain Wallet will add support for users of U.S. bitcoin and crypto exchange Gemini in North America, it has been revealed.

Users of Samsung’s crypto wallet, which allows self custody of bitcoin and crypto directly on newer Samsung Galaxy models, will be able to buy and sell bitcoin and a small selection of other cryptocurrencies via the Gemini exchange. They will also be able to view Gemini account balances and transfer their bitcoin and crypto into a higher security cold storage account.

“Crypto is not just a technology, it is a movement,” said Gemini chief executive Tyler Winklevoss, who, along with his twin brother, has campaigned for Wall Street adoption of bitcoin and crypto.

Source: Forbes | Image Source: 

Africa On the Road to an Economic Recovery Through Crypto Adoption? 

Africa Economy
Image Source: Dazzle Jam,Pexel

While Nigeria has long dominated the continent’s trade volume, the report found that South Africa has the highest percent of cryptocurrency ownership or use among internet users in Africa with 13%, followed by Nigeria with 11%. South Africa now ranks fifth for crypto adoption among connected citizens worldwide.

During the past week South Africa was seen to have  posted its second-strongest weekly volume on peer-to-peer Bitcoin (BTC) marketplace Localbitcoins, with nearly $1.65 million worth of BTC changing hands.

The increase in trading volume across the continent has also seen P2P volume from Sub Saharan Africa beat out Latin America for the first time. Nigerian P2P trade is rallying to record highs, producing $9.2 million in combined weekly trade.

Source: DigiFinex | Image Source:

Don’t Miss Out On Your Rewards!

Our Current Events Happening Now!

New version of fund products launched, up to 100% annualization 

ETF Margin Trading Launch

Get Daily Rewards When You Complete These Tasks on DigiDeriv

Coin919 Joint Grid Trading Competition 

Contract Trading Starter funds

FESSChain Grand Trading Fest

Margin Trading Extravenganza (Answer and Win!)

DigiFinex Live AMA | Simplex: RSVP Now!

Who Are We?

DigiFinex is committed to fostering an open and flexible environment of opportunity and learning, we believe that our employees are our greatest assets and yes, we offer attractive remuneration as well as staff benefits! 

We are Hiring!

Are you passionate about the crypto community like us? Join our friendly team! 

We are currently hiring the following positions: 

1. Digital Marketing Associate 

2. Product Marketing Officer 

3. PR Associate 

4. Executive Assistant

5. Business Development Officer

6. Content Editor (Translation)

7. Crypto Research Analyst

8. Chief of Risk & Trading
If any of the positions above interest you, we warmly welcome you to send your CV to hr@digifinex.com.

You can share this post on

Reletad Post

What Is NFT Real Estate and How Is It Changing the Real Estate Industry?

NFT real estate is virtual property you can purchase on a metaverse platform. 

There are many use cases for NFT real estate but it is most commonly used as a space to socialize, work, and game.

The value of NFT real estate can be affected by its utility, project, and demand. 

Thanks to blockchain technology, the tokenization of real-world assets (such as real estate) has made the industry’s processes more efficient, transparent, and secure.

Arbitrum Project Introduction

From 2020 to now, many public blockchains such BSC, Solana, Polkadot, and Avalanche raced to take over ETH’s users and market. Their advantages on low gas fee and quick transaction time made ETH eager to release effective Layer2 program to expand the capacity. Since Arbitrum was released, its ecosystem grew up rapidly and already owned many mature and popular featured projects on different race tracks.

Polkadot, the King of Cross-chain Explained

What is Polkadot? Polkadot is a heterogeneous blockchain founded by Gavin Wood, former CTO of Ethereum, is an impeccable blockchain project that is perfect in every sense. Its founder, Gavin Wood, is the author of the Ethereum White Paper and the person who knows the defects of Ethereum at heart. Polkadot was founded with the idea to solve Ethereum’s shortcomings and replace it as the “King of the Public Chain”. Read to find out more!

Fil Mooned Right Away After I Sold It. Am I One of the Weak Hands?

“Fil mooned right away after I sold it. I am the weakest hand in the crypto world.” said one of my friend who has been trading cryptocurrency for many years. He is a user during the public sale and bought FIL at the price of $2. After the FIL is unlocked, he sells coins wildly every day. But even so, he still hates the slow process of unlocking, so he directly sold all the publicly purchased Fil at the price of dozens of dollars.

What is EIP-1559? How will it affect Everyday Users? Will it Pump Up ETH Price?

What is EIP-1559? How will it affect Everyday Users? Will it Pump Up ETH Price? The EIP-1559 we will be talking about in this article is an example of Ethereum improvement proposal. This proposal was first put forward in November 2018 by Eric Conner, an ETH developer. It aims to reform the GAS fee bidding system of ETH, so to reduce the cost for users to transfer money on ETH.

DigiFinex Apollo IEO Project HGOLD Token Sale Announcement & Sponsoring Michael Madsen’s Imprint Ceremony in Hollywood

5 rounds of HollyGold Limited Token Sale came to an end smoothly last Friday, Nov 13rd, 2020. Not only was it a successful token sale, its’ results were indicating a positive growth in the project HollyGold. HollyGold has also sponsored Michael Madsen at his celebratory imprint ceremony in Hollywood recently.

%d bloggers like this: