Xapo Leaves Venezuela, 20m Brave Internauts, Oversubscribed IEOs + More News

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

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Crypto adoption news

Crypto wallet provider Xapo, owned by Coinbase, is the latest international venture to exit Venezuela – with the firm emailing users in the country to let them know that it will be replacing its current offering with a “regulated digital platform,” as first reported by Decrypt. Venezuelan users took to social media to post images of emails that accounts owned by Venezuela-based individuals “must be closed” as a result of the move. The decision comes hot on the heels of the recent exit of Paxful – a peer-to-peer crypto trading platform – as Washington continues to ramp up sanctions on Caracas.

  • Blockchain-based decentralized browser Brave (BAT) has officially passed 20m monthly active users (20.5m), up from 8.7m this time last year, which represents a 2.4x increase in one year. Per the announcement, among other results, Brave passed 7m daily active users (DAU), up from 3m this time last year, which is a 2.3x increase in DAU over the year.
  • Dharma, an Ethereum (ETH)-based crypto lender, has announced that it now enables its users in the 13 states in the US to buy tokens on the Uniswap decentralized exchange directly from a bank account.

Exchanges news

  • Gate.io said that projects WooTrade, CoralSwap, and Juggernaut have raised over 10 million worth of tether (USDT) combined during the month of October 2020, through its initial exchange offering (IEO) platform, Startup. Per the emailed press release, WooTrade, CoralSwap, and Juggernaut were oversubscribed by 1,600%, 700%, and 2,350% respectively.
  • Binance has announced today a new feature on Binance Earn, called BNB Vault. According to the emailed announcement, it combines several income benefits of Binance Smart Chain (BSC), Launchpool, Savings, decentralized finance (DeFi) Staking, etc. through one interface. This, said the exchange, enables users “to maximize their income potential” with binance coin (BNB) from both centralized and decentralized finance products.

Altcoins news

  • Leading Japanese crypto exchanges have revealed their Bitcoin Cash (BCH) hard fork policies ahead of the token’s next fork – expected to take place on November 15. Experts have widely suggested that the next fork could result in the creation of a brand-new crypto asset. Although all of the policies differ slightly, most have decided to pause withdrawals and deposits in BCH in the days leading up to November 15, with leverage trading also halted. Per Coin Post, all the exchanges that trade BCH stated that they would inform their bitcoin cash customers “about resumption policies for deposits and withdrawals and new orders” after the fork. Forks and new tokens have blighted Japanese exchanges in the past, and a number of Japanese exchange operators have delisted BCH, including the influential SBI.
  • Axion Network’s AXN token’s price crashed by nearly 100% just hours after the token went live on November 2, reportedly due to an exploit, resulting in 79 billion AXN minted and sold. This seems to have been confirmed by the team on their official Telegram channel, where it’s said that USD 500,000 has been stolen.

Blockchain news

  • Guangzhou, China, is home to over 13,000 blockchain companies, according to data compiled by Guangzhou University and the provincial regional development committee. Per China News, there are currently 29,580 blockchain companies in China – 44.28% of which are located in Guangzhou. The province’s most influential business hub, Shenzhen, houses over 14% of all Chinese blockchain companies, the report’s authors noted.

Career news

  • Publicly traded mining company Hut 8 has announced Jaime Leverton as the new CEO. Per the press release, Leverton will replace interim CEO Jimmy Vaiopoulos on December 1, and after former CEO Andrew Kiguel stepped down in late April this year. The new CEO is joining Hut 8 from her current role as the Chief Commercial Officer at eStruxture Data Centers.