Coinbase Supports Four New Cryptocurrencies

It has been reported that the American Cryptocurrency exchange Coinbase have added 4 new ERC20 tokens in their Coinbase Pro platform.

These tokens include Golem, Maker, Zilliqa and Dai.

It seems that the new crypto unicorn has accelerated listing new tokens with plans of including over thirty more.

Currently, standard Coinbase clients have access on Basic Attention Token (BAT), USD Coin (USDC), and 0x (ZRX) while Coinbase Pro users got access to Civic (CVC), dsitrct0x (DNT), Loom Network (LOOM) and Dencentraland (MANA).

These new cryptos are only available in the United States, United Kingdom, Canada, Singapore and Australia.

Despite generally positive sentiments on this development, there are some concerns regarding the additions of the digital assets as it may expose the company to additional liability due to potential securities classification.

But then again the expansion of Coinbase’s coin offering will allow enthusiasts to access greater range of digital assets, more liquidity and perhaps

Bitcoin Is A Good Asset Whatever The Price Is

Spencer Bogart of Bitcoin Capital shares his sentiments about bitcoin in a recent interview with CNBC.

According to the Bitcoin bull he still believes that bitcoin (BTC) will hit $50,000 it is not a question of if but when.

However it may not be as soon as bulls are forecasting.

However he quickly reveals that he does not know exactly when it will happen.

This is a far more realistic prediction than other pundits that is calling for $15k year-end price prediction.

He further explains that ignoring the price down turn of BTC it has been a great year for bitcoin and cryptocurrencies in general.

He cites developments like the development of a second layer solution to address the scalability problem of bitcoin, Lightning Network (LN), where one can transact extremely quickly and extremely cheaply.

Bogart also reveals that at $2,000 and $1,000 is a great buying opportunity suggesting that several months down the road people would be asking themselves why they did not buy then.

However this price speculation comes from a bictoin bull like Bogart, the possibility of bitcoin reaching astronomical values is of course the same as it going even lower.

For the bitcoin maximalist bitcoin is still a good asset at whatever price levels.

Development Bank In Germany Test Blockchain For African Projects

A publicly owned development bank in Germany is reported to be testing an application of blockchain for public finance management in Burkina Faso.

The bank is exploring to use the emerging technology to help improve economic development cooperation during funding international development projects.

Kfw Bankengruppe will carry out a six-month pilot in the poverty-stricken country to explore the said technology.

Kfw is acting on behalf of Germany’s Federal Ministry of Economic Cooperation and Development (BMZ) which has worked to improve economic development in Germany and around the world.

For decades it has cooperated with the likes of the International Monetary Fund, World Bank and United Nations.

One of its notable projects is the Marshal Plan with Africa which is an initiative between Africa and Europe designed to help the economy of African nations.

The said bank has financed around $8 million worth of water and sanitation improvement in Burkina Faso.

It will be using its blockchain-powered TruBudget software for processes like contract design, tendering, and payment on projects.

The platform will enable participants to view current progress in the project in real time and ensure the correct use of funds.

The new blockchain platform has been reported to have the capacity to replace costly infrastructure deployments.

Nasdaq Wants To Acquire Cinnober For $220M

The operator of the second largest stock exchange in the world, Nasdaq Inc. has recently increase a per share price offer for the Swedish crypto-oriented financial services provider Cinnober.

This was according to a recent press release by the New York-based company.

Nasdaq is making an acquisition bid through its Stockholm-incorporated wholly-owned company Nasdaq Technology AB.

Nasdaq has raised its offer from its original offer last September, from 75 Swedish kronor per share and 85 Swedish kronor per warrant to 87 Swedish kronor and 121 Swedish Kroner respectively.

This new bit puts the value of Cinnober to around 1.9 billion Swedis Kronor or around $220 million.

This is about 17% more than the previous offer.

The initial offer was rejected by the owner despite Cinnober’s Board of Directors unanimously had recommended shareholder to back the bid.

Only around 37% of the shareholders accepted the offer due to majority of the owners finds the offer undervalued.

With the new offer, Nasdaq has now the support of the majority of shareholders representing 82.6%.

However, to proceed, they need to be backed with 90% of the capital owners. The offer ends January 9, 2019.

Japan Classifies Crypto As Crypto-Assets Not To Be Confused With Legal Tender

The regulatory agency that handles cryptocurrency has recently proposed a new legal category for cryptocurrencies.

According to the Japanese Financial Services Agency (FSA) cryptocurrencies will be classified as crypto-assets.

By classifying cryptocurrencies as such the government of Japan hopes traders will no longer purchase them believing that they are legal tender recognized by the government.

The FSA advisory panel filed a report requesting the term virtual currency be changed so that people would not be confused into believing the asset is legal tender that is recognized in the country.

The Japanese authorities have been hard at work to create a regulatory framework to the burgeoning asset class.

Just recently it has been reported that FSA has introduced set of regulations for Initial Coin Offering to protect investors from fraud.

It calls for ICO issuers to register with the FSA.

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