– Binance has launched its own blockchain
– Sirin Labs has laid off 25% of its workforce
– Coinbase has expanded crypto-to-crypto conversions and trading services to 11 more countries
– Binance brought in $78 million in profits in Q1 2019
– Japanese FSA is planning to force cryptocurrency exchanges to tighten their security
– TON Labs has partnered with German payment company Wirecard
The major cryptocurrency exchange Binance has launched its own blockchain, Binance Chain, and plans to execute mainnet swap on April 23.
Israeli tech startup Sirin Labs, which launched the world’s first blockchain smartphone called Finney, has laid off 25% of its workforce. This reduced the number of employees from 60 down to 45.
“The global market is not in the best state,” Sirin Labs said, adding that the company had completed development of its product, the Finney blockchain smartphone, equipped with a digital wallet and other apps designed for use with digital currencies.
The U.S. based cryptocurrency exchange Coinbase has expanded crypto-to-crypto conversions and trading services to 11 more countries (Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines and New Zealand).
Binance brought in $78 million in profits in Q1 2019, up 66% compared to the previous quarter, according to The Block’s calculations.
While Binance doesn’t disclose its financials, the profits can be deduced fairly easily by looking at the quarterly burns. Binance announced that it burned nearly 830,000 BNB, which represents 20% of its net profits in Q1.
Japanese Financial Services Agency (FSA) is planning to force cryptocurrency exchanges to tighten their security, particularly by strengthening internal oversight over cold wallets.
TON Labs, infrastructure and ecosystem developer for the Telegram Open Network (TON) decentralized platform, and German payment company Wirecard have partnered to develop a joint platform for digital financial services, payments and banking.