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Bitfinex, Bybit Launch New Products, CoinDCX Raises USD 3m + More News

Sead Fadilpašić
Last updated: | 4 min read

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Source: iStock/joyfotoliakid

Exchanges news

  • Bitfinex has launched a proprietary surveillance tool, dubbed Shimmer, in order to combat market abuse and help promote orderly trading on the exchange, says the press release. This market alert and reporting tool that was designed to operate with Hive, Bitfinex’s distributed matching engine, is meant to identify and investigate possible manipulative behaviors and suspicious trading practices on the exchange, such as wash trading and layering, improving market integrity and visibility.
  • India-based crypto exchange CoinDCX has raised USD 3 million in Series A funding led by Polychain Capital, Bain Capital Ventures, and HDR Group, operator of BitMEX exchange, with participation from other venture capitalists. Per the announcement, CoinDCX will use the funds to boost product development, service enhancements, research and development, marketing, and human resource growth. They add that many projects are in the pipeline, and that the exchange achieved 10x growth in the first week after the Supreme Court overthrew the ban placed by India’s Reserve Bank back in 2018.
  • Bybit has added Tether (USDT) perpetual contracts to its crypto-backed derivative products. The emailed press release states that the USDT contracts will use USDT as both the quote and settlement currency, and it will enable two-way trades allowing traders to hold both long and short positions concurrently and with different leverages. Bybit adds that all profits, losses, and account balances will be denominated in USDT.

Blockchain news

  • The South Korean government’s Korea Internet Services Agency (KISA) will provide “cyber crisis training” for blockchain companies, reports D Daily. KISA says the training program will help companies learn how to respond to sudden cyber threats, and says blockchain-related firms will be invited to apply up until April 24, with real-time simulations conducted in May.
  • South Korean software giant Hancom has appointed a new CEO to head its blockchain division Hancom Weed. As previously reported, the firm has already unveiled a number of blockchain-powered business solutions, including a selection of offerings showcased at CES 2020. Per Work Today, the new CEO is Hong Seung-pil, who joined the company last year as its COO of the new business. The company says Hong, who has previously worked at LG CNS, has considerable blockchain experience and will also head the company’s smart city operations. The company last month sealed a deal with a Shinhan affiliate that will see the firms co-build a digital asset exchange.
  • Forte, a platform designed to change the economics of gaming via blockchain technology, has announced partnerships with game developers, who will be integrating Forte’s platform into their gaming titles, these being: Hi-Rez Studios, Netmarble, Magmic, nWay, and DECA Games. According to the press release, Forte’s blockchain platform benefits both existing and future titles; it unlocks new revenue streams in traditional game designs and serves as the economic and creative foundation for blockchain-native experiences.
  • South Korean blockchain heavyweight Iconloop says that it will provide its blockchain services for free during the COVID-19 outbreak, reports D Daily. The company has been backed heavily by a number of major South Korean business players, and has partnership deals in place with the likes of Samsung. The media outlet reports that Iconloop says companies may make use of its blockchain-powered ID platforms and digital certificate issuance services for at least two months.

Mining news

  • Major crypto mining company Bitmain has announced that its Antminer S19 series in two variants is on sale. Per Bitmain site, the delivery time is expected to be May 11-20. Shipping dates for international orders are yet to be determined.

Regulation news

  • A new, crypto-focused political action committee (PAC) has been announced and registered with the Federal Election Commission (FEC) as a hybrid PAC. Per their website, their mission is to support current and future members of the United States Congress that promote the development of cryptocurrencies and the decentralized economy. They allow donors to vote on the candidates they would like to receive backing. The PAC is founded by former Cato Institute staffer Tyler Whirty, while the founding donors include Brian Armstrong, CEO of Coinbase; Cameron and Tyler Winklevoss, co-founders of Gemini; Olaf Carlson-Wee, chief investment officer at Polychain Capital; Nathan McCauley, CEO of Anchorage; and Don Wilson, CEO of DRW.

Coronavirus news

  • Scammers in Japan are using COVID-19 and cryptocurrency-themed schemes to dupe victims into handing over money, reports FNN. The media outlet reports that a 90-year-old man in Nagoya gave more than USD 27,000 to a man he believed to be a lawyer representing his son. The 90-year-old had previously received a phone call telling him that his son could not buy protective face masks as his bank accounts were inaccessible due to unpaid taxes on undeclared cryptocurrency earnings.