TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. KPMG launches an institutional crypto suite. COMP farming keeps propping up Compound locked value. Andrew Yang announced Data Dividend Project. Intel partners with BlackBerry to stop cryptojacking. Sparrow raises $3.5 million in series A funding round, and CoinGecko introduces a rewards system.
KPMG Launches Institutional Crypto Suite
KPMG, an important accounting and finance services firm, launched a software suite targeted for institutional customers handling cryptocurrencies. The suite, called KPMG Chain Fusion, seeks to streamline and simplify the processes institutions offering cryptocurrency and trading related services perform every day, including customer account management, anti-money laundering (AML), and security. KPMG markets Chain Fusion as a bridge to manage traditional and crypto-asset compliance under one roof.
COMP Farming Keeps Pushing Compound Value Locked Further Up
COMP, the governance token of the Compound protocol, is driving up the amount of total value locked in the protocol as users try to get more of the token by depositing (or lending) funds using the platform. The token is given as a reward for the number of funds distributing around 2,880 COMP per day worth about $668,000, which encouraged many users to move their holdings to the platform to get their share of the token. As a consequence, APY for some tokens reached 30%+ levels on the platform.
Andrew Yang Announces Data Dividend Project
Andrew Yang, the crypto-friendly former presidential candidate, announced the Data Dividend Project (DDP), an initiative seeking to establish and enforce data property rights. The DDP will seek retribution for every piece of data a user contributes to data brokers — the companies that allocate and group this information to sell it to other companies to use for market research and profiling. Data brokering is a billion dollar industry, so Yang’s proposal seeks to shift part of these funds to consumers.
Intel Partners With BlackBerry to Stop Cryptojacking on Intel PCs
Intel partnered with BlackBerry to create a tool that can effectively prevent cryptojacking through patented techniques. BlackBerry’s Optics Context Analysis Engine uses tech coming from Intel processors to stop and prevent cryptojacking malware to take over PCs with virtually no processor impact. “As hackers use more sophisticated tactics to bypass detection, it’s more important than ever to have built-in hardware security features,” declared Stephanie Hallford, Intel Vice President of the Client Computing Group.
Sparrow Raises 3.5 Million in Series A Funding Round
Sparrow, an options trading platform, managed to raise $3.5 million in its Series A Funding Round led by HDR Group, the company operating BitMEX cryptocurrency exchange. The round also had participation from Signum Capital, Du Capital, and FinLab EOS VC. Sparrow CEO Kenneth Yeo stated they “are really pleased that the round received strong support despite the harsh economic climate caused by COVID-19.” The funds raised will be used to bring more products to customers of the exchange.
Crypto Price Index Platform CoinGecko Introduces Reward System
CoinGecko, a pricing and data platform, introduced a reward system for its users. The site will be giving its users “candies” as rewards for daily check-ins, which can be traded for exclusive goodies found on their site like vouchers and NFTs. These “candies” are centralized, and the whole system is just “a journey towards decentralization in the long run,” according to a company statement. CoinGecko experienced a surge in visits and attention since Binance bought CoinMarketCap, the leading crypto pricing site, earlier this year.
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