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Cryptocurrency and Blockchain News
In a recent article via BBN Times, Jerry Floros highlighted how regulatory clarity will ultimately shift Initial Coin Offerings (ICOs) to Security Token Offerings (STOs). Despite the current state of differing jurisdiction-based compliance, Floros says the regulatory safety found in security tokens is even likely to bring institutional investors onto the cryptocurrency scene.
Facebook is shedding new light on the social media giant’s cryptocurrency and blockchain strategy. Back in May, Facebook announced a big company shakeup involving the creation of a new division dedicated to looking at how the company can leverage blockchain technology. Now, a series of job listings reveal new details on exactly what Facebook plans to do.
The Abu Dhabi National Oil Company (ADNOC) has successfully collaborated with IBM to pilot a blockchain supply chain system, according to an ADNOC press release published on Dec. 9.
Morgan Creek’s Anthony Pompliano has declared that, contrary to the expectations of some in the blockchain space, Facebook will eventually build the “most used product in crypto.” Responding to a tweet by The Block founder Mike Dudas inferring that Facebook is hiring blockchain engineers without a clearly defined role or purpose for them, Pompliano stated that based on Facebook’s track record of development, scaling, and deployment, he expects that it is only a matter of time before the company will rise to dominate the cryptocurrency space.
Sequoia, Baidu, Nasdaq, and Fidelity are amongst some of the largest VCs, technology conglomerates, and financial institutions to make big bets on crypto in the past week. Despite the bear market which has led major cryptocurrencies to lose about 80 to 90 percent in value on average, both digital asset-related businesses and blockchain protocols are raising tens of millions of dollars from high profile institutions.
Japanese Crypto Exchange Bittrade announced that it will be terminating its current trading system so that it can relaunch as a member of the Huobi system due to the majority stake that it has acquired. Interestingly enough, the acquisition could mean that Bittrade will no longer be operating in Japan, given that Huobi has no licensing or registration there.