TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. WHO launches coronavirus blockchain platform. Telegram wants to distribute tokens for non-US investors. Stablecoin transaction volumes almost triple in Q1. CBInsights reveals blockchain deals are migrating East. BlockFi adds support for Paxos, and Israeli exchange Bit2C sues BT360 wallet for fraud.
WHO Launches Coronavirus Blockchain Platform
The World Health Organization (WHO) launched a blockchain platform that will help different countries and institutions share information to fight the coronavirus pandemic. The platform, called MiPasa, is the WHO in partnership with IBM and Microsoft, and will be leveraged by authorities worldwide to report about early detections of the virus and contagion hotspots. MiPasa will be used by different health institutions involved in the fight against the coronavirus, including those of the US, European, and Chinese Disease Control Centers.
Telegram Wants to Distribute Its Tokens Outside US
Telegram, the messaging company, wants to distribute its ICO tokens (GRAMS) to non-US investors after a judge issued a temporary injunction that stopped GRAM distribution, classifying its ICO as an illegal securities sale. Despite this, Telegram recently asked the judge if they could proceed with sales made to non-US investors, arguing $424.5 million of the $1.7 billion raised in the ICO was with money from non-US investors. “These transactions fall outside of the reach of the U.S. securities laws,” they argued.
Stablecoin Q1 Transaction Volumes Boom
Stablecoins have become a very important part of the cryptocurrency ecosystem, and the numbers prove it. Stablecoin transaction volumes almost tripled in Q1 2020 when compared to the same period last year. This growth comes not only from trading sources, but also from chain transactions from wallet to wallet, according to research by The Block. The most used stablecoin was, unsurprisingly, the Ethereum based version of Tether, followed by its TRON variation, while USDC and Dai experienced important growth too.
CBInsights Report States China Dominates Blockchain Deals
CBInsights, an intelligence firm on high growth private companies, released a new report stating the Western world is being relegated to second place in the number of blockchain deals. According to “The Blockchain Report 2020,” 51% of deals were for US-based companies while only 2% went to China-based companies during 2015; but in 2019, the US number fell to 31%, while China’s number of deals grew to 22%. This could be a result of the lack of clarity US regulation offers to crypto and blockchain based companies.
BlockFi Adds Support for Paxos
BlockFi, one of the most popular cryptocurrency lending platforms, is adding yet another stablecoin to its currency lineup. Paxos (PAX) will now be deposited in their Blockchain Interest Accounts, allowing users to earn up to 8.6% APY. Paxos will also be supported on their internal trading platform. Zac Prince, Founder and CEO of BlockFi stated they were “excited to support PAX on our platform and help expand stablecoin availability, with market leading yields, to BlockFi clients.”
Israeli Exchange Bit2C Sues BT360 for Fraud
Bit2C, an Israeli exchange, sued BT360, an Israeli wallet, for fraud claiming they exit scammed, taking 40 BTC in the process. Eli Bejerano, Bit2C CEO, is demanding $500,000 from BT360, alleging he provided 40 BTC as part of a pilot project that included a savings account and a loan product. BT360 closed its doors. however, leaving many users without their funds last February, and it is now under investigation by Israeli authorities.
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