Hey everyone,
In my Weekly Crypto Overview, I will assemble the important news of the last week and make a summary of it. This way you will have one place to go for all the significant events that happened the week before in crypto. I hope you enjoy it and that it saves you a lot of time searching for all the news. I know not everyone has the privilege to be full-time in crypto, so I hope this is a solution for many of you.
- Binance Partners With Crypto Lending and Borrowing Firm Cred
- Everyone Can Be Satoshi
- Cryptopia Owes Creditors $2.7 Million
- Lightning Network To Power Payments in a Japanese Bar?
Binance Partners With Crypto Lending and Borrowing Firm Cred
Binance exchange is teaming up with Cred to offer cryptocurrency lending and borrowing services across its ecosystem. As part of the arrangement, California-based Cred will migrate a portion of its native “LBA” token to Binance’s blockchain network, Binance Chain, according to an announcement Wednesday.
Binance chief growth officer Ted Lin said that as Binance Chain has a “one-second block time,” it will help Cred scale its operations to more markets and users, and ensure transactions are “fast, efficient and effortless.”
You can read Coindesk’s full article here.
Everyone Can Be Satoshi
The latest person to claim authorship of the bitcoin code created under the pseudonym Satoshi Nakamoto isn’t really about claiming to be its original creator, rather he’s just out to satirize that such a thing could even be attempted at all.
Wei Liu, CEO of Coinsummer, a crypto market research firm, and former CEO of crypto fund MarvelousPeach Capital, registered a copyright for “Bitcoin: A Peer-to-Peer Electronic Cash System” last week, it was revealed today, making him the second individual to copyright the famous document. Coindesk tracked him down in Beijing to get clarity on his attempt to wrest to control or, most likely, comment on Craig S. Wright’s white paper registration.
I filed it just to let people know anyone can register a copyright. Everyone can be Satoshi Nakamoto.
You can read Coindesk’s full article here.
Cryptopia Owes Creditors $2.7 Million
The liquidators of failed New Zealand crypto exchange Cryptopia have released their first report on the firm’s financial situation, revealing that it owes over US$2.738 million to creditors.
The appointed liquidator Grant Thornton New Zealand published its report Friday, saying that 69 unsecured creditors are owed at least $1.37 million and secured creditors over $912,000, with an expected deficit of $1.63 million. Secured creditors include Dell NZ and Coca Cola Amatil (NZ).
At time of liquidation, the exchange possessed $691,229 in cash, but had a loan of around $150,000, the liquidator added. It also had fixed assets with a face value of over $1.3 million, although the value that would likely be recoverable is more likely around $242,000.
You can read Coindesk’s full article here.
Lightning Network To Power Payments in a Japanese Bar?
A bar in Japan is teaming up with a locally-based lightning startup to let customers pay for sparkling wine and soft drinks using the experimental payments network.
For the month of June, the Japan-based lightning startup Nayuta will be partnering with Awabar Fukouka to trial the payment system in what they’re calling a “field test.”
We hope it helps familiarize the community with the lightning network payment system.
You can read Coindesk’s full article here.
That’s it for now. All the best to everyone!
Khilone
The material contained in this article is not to be regarded as an recommendation to buy or sell or the solicitation of any offer to buy or sell securities in any jurisdiction where such an offer or solicitation is against the law, or to anyone to whom it is unlawful to make such an offer or solicitation, or if the person making the offer or solicitation is not qualified to do so. The information on this document does not constitute legal, tax, or investment advice. You must not, therefore, rely on the content of this document when making any investment decisions.
