Italian Red Cross Raises BTC 2.84 to Fight Covid-19 + More News

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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/Cineberg

Coronavirus news

  • The Italian Red Cross and the Colli Albani Committee have launched a bitcoin fundraising, raising donations in BTC and other cryptocurrencies to fight the country’s coronavirus pandemic by purchasing and setting up a Second Level Advanced Medical Post for pre-triage of COVID-19 cases, says the announcement. Per Helperbit update from March 15, in three days the project reached the initial target goal of EUR 10,000 (USD 11,163) with BTC 2.8484 donated by 29 supporters. The new target is BTC 5.5241, which will be used to complete the AMP core structure with the accessories necessary for emergency operations, such as a DefiMonitor (a defibrillator with vital signs monitor).
  • The South Korean government could be set to help co-fund telecommuting platform for small and medium-sized enterprises in the country that are having trouble coping with the spread of the coronavirus – with the help of blockchain technology. Per Business Post, many SMEs have no access to remote working solutions, but the nation’s employment ministry is set to green-light plans that would see it foot 50% of the costs involved with setting up work-from-home initiatives, with a number of blockchain-powered remote-work software platforms likely to be selected.

Adoption news

  • The South Korean government will select nine high-potential blockchain projects and award them with USD 367,000 worth of funding in April, reports Tech M. The government supported a similar project last year, and is looking to continue its policy of fostering up-and-coming private blockchain projects in joint public-and private sector initiatives.
  • Alternet Systems Inc (ALYI), an energy storage, military application, and electric motorcycle firm, has partnered with an unnamed company to launch a cryptocurrency minted on the Ethereum blockchain dedicated to funding electric vehicle projects in Sub-Saharan Africa. The company has developed an electric motorcycle with a side car designed specifically for implementation in the African shared ride market, says the press release. Furthermore, ALYI plans to raise USD 100 million through an initial coin offering (ICO) for which it’s conducting a regulatory review and developing a marketing plan.

Exchanges news

  • Zilliqa (ZIL) said it has partnered with Switcheo, a decentralized crypto exchange on the NEO blockchain, to build a non-custodial, decentralized exchange (DEX). “With the new Zilliqa DEX, Zilliqa token holders and traders will have the ability to tap into digital assets on the Ethereum blockchain for the first time, essential to bolstering the growth of Zilliqa’s [decentralized finance] ecosystem,” the startup said.
  • Binance CEO Changpeng Zhao has announced during the Blockchain Africa conference that the exchange will launch a fiat gateway for South African users, allowing them to make Rand deposits, reports BitcoinKE. Users will be able to utilize the gateway for the five initial pairs: BTC/ZAR, BNB/ZAR, ETH/ZAR, USDT/ZAR, and BUSD/ZAR.

Regulation news

  • The U.S. Securities and Exchange Commission (SEC) published a proposal to modify the capital formation rules for early-stage startups, by expanding access to capital for entrepreneurs across the United States, it says. This proposal, if adopted, would raise the cap on proceeds from USD 50 million to USD 75 million for security offerings sold under Regulation A+, as well as from USD 1 million to USD 5 million for Regulation CF, that is, crowdfunding.

Crime news

  • Two South Korean cryptocurrency scam operators who used multilevel marketing (MLM) methods to recruit investors have been handed jail terms. Per Newsis, the two men promised investors fourfold returns on their stakes if they invested in a mutual cryptocurrency fund, with higher benefits for investors who recruited others. A court handed out jail terms of eight and 10 months to the two men.