#CryptoCorner: Samsung Developing #Blockchain and Possible “Samsung Coin”, Coinbase Closes Chicago Office and Lays Off Around 30 Engineers
#CryptoCorner:
Samsung Developing #Blockchain and Possible “Samsung Coin”, Coinbase Closes
Chicago Office and Lays Off Around 30 Engineers
Point Roberts WA, Delta BC, April 24, 2019 - Investorideas.com, a leader in crypto and
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April
24 Crypto Corner
Stocks discussed: (KSE:005930)
Samsung (KSE:005930) is developing its
own Ethereum (ETH)-based blockchain
network and token, according to a report from CoinDesk. The publication
was told by an unnamed official “familiar with Samsung’s internal situation”
that:
“Currently, we are thinking of private blockchain,
though it is not yet confirmed. It could also be public blockchain in the
future, but I think it will be hybrid – that is, a combination of public and
private blockchains.”
With regard to a
possible token, which could potentially be traded on other crypto exchanges,
the official said:
“We expect Samsung Coin to come out in the market, but
the direction has not yet been decided.”
Fortune reports that
crypto exchange giant Coinbase has closed down its Chicago office and laying
off roughly 30 engineers in the process. The office was opened in May 2018 to
take advantage of Chicago’s finance opportunities. Coinbase told Fortune:
“We have made the
difficult decision to consolidate the matching engine efforts and thus wind
down the matching engine team in Chicago. We will look to relocate a small
number of Chicago-based matching engine employees to San Francisco.”
Reuters reports that
Japan’s Financial Services Agency (FSA) raided two crypto exchanges last week
to ensure their commitment to customer protection and anti-money laundering met
standards. The financial watchdog inspected Huobi Japan Inc and Fisco
Cryptocurrency Exchange Inc, both of whom have “recently underwent major
changes to management structures” according to sources.
Blockchain tech
company Bitfury has launched a bitcoin mining
fund for institutional investors with Swiss investment firm Final Frontier,
according to a report from Reuters. The fund is being overseen by financial
regulators in Liechtenstein. Imraan Moola, co-founder of Final Frontier, said:
“With the bitcoin price down significantly from its
all-time high, yet institutional interest growing every day, now may be an
opportune time to consider investing in bitcoin mining.”
Sam
Mowers, Investorideas
Read other editions of the Crypto Corner
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