Ethereum mining pool Sparkpool has located and verified the accidental sender of an unusually high miners’ fee and agreed to split the amount. In a statement provided to CoinDesk, Sparkpool said it received an email from an anonymous user on Feb. 25, claiming that they had made a mistake by attaching the 2,100 ether (ETH) fee on Feb. 19 – an amount worth around $300,000 at the time. To verify that the emailer was indeed the sender of the payment, Sparkpool replied at on Feb. 25, asking that a token amount of 0.022517 ETH be sent using the same 0x587 address to the pool’s address. According to data on Etherscan, the owner sent the requested amount of ETH at 09:15 UTC the same day, after which Sparkpool agreed to negotiate on the next step, adding in the statement the sender is from a blockchain firm based in South Korea. The final agreement now sees Sparkpool keep half of the 2,100 ETH for pool miners entitled to the reward and returning the other half to the South Korean firm. After another request from Sparkpool, the owner of the 0x587 address made a second transaction of 0.666 ETH to Sparkpool with a paragraph coded into the transaction’s hash to confirm the agreed split at 05:49 UTC today (March 11). It reads: “Thank you SparkPool and your miners for helping us to recover our loss, we are willing to share half of 2,100 ETH with the miners to thanks the miners’ integrity.” Sparkpool has now returned 1,050 ETH to the sender. After the payment was first sent on Feb. 19, Sparkpool temporarily froze the then mysteriously large mining reward due to the possibility that it was issued by accident. Ether image via Shutterstock
Dubai-based real estate giant Emaar has announced plans to launch a token and is considering holding an initial coin offering (ICO) in Europe, English-language local media Arabian Business reports on March 11. Per the article, the token will be developed by Swiss blockchain startup Lykke, and will grant Emaar’s customers and stakeholders access to the referral and loyalty system across the entire company. Emaar is the largest real estate company in the United Arab Emirates (UAE), responsible for the Burj Khalifa, Dubai Fountain, Dubai Mall and Dubai Opera. According to its Wikipedia page, Emaar Properties boasts a revenue of $5.83 billion and has been valued at $9.7 billion as of June last year. Moreover, according to Arabian Business, Emaar’s revenue grew by 37 percent last year to $7 billion. The article further notes that Emaar will also consider holding an ICO in Europe within a year of the internal operational launch of the platform. The startup developing the token, Lykke, will reportedly comply with the ERC-20 standard and release it on the Ethereum (ETH) blockchain. Maud Simon, global head of human resources at Lykke, confirmed the plans to Cointelegraph. As Cointelegraph reported in February, Emaar Properties has officially denied reports that it enabled crypto payments for property. Also in February, the County Auditors’ Association of Ohio announced the formation of a working group to study the use of blockchain for the effective transfer of property deeds.
Blockchain protocol EOS (EOS) has dismissed worries over a recent transaction that hypothetically would be worth over $3 trillion. As picked up by Whale Alert, a Twitter account monitoring large transactions on cryptocurrency blockchains, an EOS user named “f***hacker.x” succeeded in creating a transaction for 1 trillion EOS tokens ($3.61 trillion). The transaction, which ultimately failed due to its size being far greater than the total circulating EOS supply, initially raised concern. At press time, EOS is trading at around $3.61 with a total market cap of around $3.2 billion, according to CoinMarketCap data. Commenting to Whale Alert on Twitter, however, EOS block producer EOS New York said the transaction made use of a feature of the protocol, known as a deferred transaction, which allowed the larger than possible transaction to be presented. “The trx that creates the deferred trx can only determine whether the create request was submitted successfully or whether it failed. Once broadcast it is subject to normal validity checks,” EOS New York explained, noting that Whale Alert “reported FUD news.” A summary of the transaction confirms it failed to gain validation, while the motive of its creator remains a mystery. “It would make sense that this transaction would fail because it’s clearly impossible,” EOS New York added. As Cointelegraph reported, EOS has faced occasional difficulties in recent months. In February, a consensus failure among its 21 block producers allowed a hacker to move 2.9 million tokens which should have been blacklisted. Criticism has also emerged of the EOS governance system, which commentators have argued is insufficiently decentralized in the wake of a scandal last November involving reversed transactions.
Deutsche Börse Group, Germany-based owner of the Frankfurt Stock Exchange, has partnered with major telecoms and IT provider Swisscom and Switzerland-based fintech firm Sygnum to build what the firms are calling a “trusted digital asset ecosystem.” Swisscom announced Monday that the proposed ecosystem would provide a number of solutions in the digital assets space, including issuance, custody, liquidity provision and banking services, all using blockchain technology. As part of the partnership, Deutsche Börse has invested in Custodigit AG, a joint venture between Swisscom and Sygnum, which provides a technical solution for custody of cryptocurrencies. Deutsche Börse and Sygnum will also become shareholders of blockchain startup Daura AG, which provides a platform for the issuance, transfer and registration of shares in Swiss SMEs (small- and medium-sized enterprises), providing non-listed firms with access to the capital markets, according to the announcement. Jens Hachmeister, managing director of DLT (distributed ledger technology), crypto assets and new market structure at Deutsche Börse said: “Continuing our investments in new technologies and driving the development around DLT forward is a key focus of Deutsche Börse Group. Switzerland, known to be a nucleus for financial markets innovation, is the ideal starting point for Deutsche Börse to drive this evolution forward.” Sygnum is also in the process of obtaining a Swiss banking and securities dealer license from the Swiss Financial Market Supervisory Authority (FINMA), Swisscom said. Once the license is in place, Sygnum will provide banking services such as custody, deposits, lending, capital issuance via tokenization, brokerage and asset management within the planned ecosystem. The trio partnership is currently awaiting merger approval, the firm said, adding that other products and services are planned for launch later this year in a “regulatory compliant” environment. Deutsche Börse also recently announced that it is planning to develop a blockchain-based system for securities lending. The firm said on March 26 that it plans to develop a system that can offer more efficient securities settlement using technical support from financial management firm HQLAX and the Corda platform from blockchain startup R3. Frankfurt Stock Exchange image via Shutterstock; diagram courtesy of Swisscom
Switzerland’s largest stock exchange SIX will reportedly launch another crypto exchange-traded product (ETP) for XRP, crypto outlet The Block writes Monday, Mar. 11. Amun AG, a Swiss crypto startup that launched the world’s first listed crypto index product on SIX last November, has confirmed the information to The Block. According to the startup, the XRP ETP will soon be launched under the ticker AXRP. As of press time, SIX has not confirmed the information to Cointelegraph. Co-founder and CEO of Amun AG Hany Rashwan told another crypto media outlet, Coindesk, that the company has also received SIX’s approval to launch four more ETPs for other altcoins — Bitcoin Cash (BCH), Litecoin (LTC), Stellar (XLM) and EOS. According to Financial Times, Amun AG has also recently closed a successful $4.2 million funding round. The financial newspaper writes that Graham Tuckwell, the Australian entrepreneur who was behind the world’s first gold exchange-traded product before founding investment firm ETF Securities, participated in the investment. As Cointelegraph previously wrote, in November 2018, SIX listed the world’s first multi-crypto-based ETP — dubbed the Amun Crypto Basket ETP — under the ticker HODL. The index tracks five major cryptocurrencies: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). Later, Amun AG launched ETPs for Ethereum and Bitcoin, which trade under ticker symbols AETH and ABTC. As per data provided by SIX exchange, the Amun Crypto Basket ETP is currently the most traded ETP by volume. However, the price by share has dropped from $15 to around $13 since its launch in November. Earlier this year, SIX Swiss Exchange announced it would be testing blockchain integration for its forthcoming parallel digital trading platform Six Digital Exchange (SDX), and would use the technology to tokenize stocks, bonds and possibly ETFs. In March, the exchange partnered with blockchain consortium R3’s Corda Enterprise platform to launch its forthcoming blockchain-powered digital exchange.
A payments and cryptocurrency platform offering a Visa card that can be used anywhere has unveiled a range of cashback benefits designed to attract modern consumers and frequent travelers. Crypto.com says it now offers free Netflix and Spotify subscriptions to its MCO Visa Card holders. Users who pay for their subscription with the MCO Visa Card can receive a 100 percent rebate on the cost of their plan, dependent on the type of card they have signed up for. The platform is also offering 10 percent rebate on Expedia bookings to customers with the top two tiers of its five-tier Visa Card, along with a further 10 percent cashback on Airbnb reservations for those who opt for its most premium card tier. Crypto.com says cardholders can now also receive cashback on all of their purchases, ranging from 1 percent to 5 percent, depending on the type of card they have. The five tiers of card relate to the level of MCO Token, Crypto.com’s native cryptocurrency, that customers have locked up. No funds need to be set aside for the lowest tier, but more benefits are unlocked as more MCO Token is staked. Kris Marszalek, the co-founder and CEO of Crypto.com, said: “The MCO Visa card now offers best cashback terms of any card in the market, along with perks that match the lifestyle of our community. We’ve received hugely positive feedback from our customers in Singapore and are looking forward to shipping the cards in the US, Europe and other key markets. The product is irresistible whether you’re a hardcore cryptocurrency fanatic or someone who is just learning about it.” Eliminating markups Besides its prepaid card, Crypto.com has also been vying to position itself as “the best place to buy crypto” — launching its Vortex Trading Engine last month. The company says that this engine aims to deliver the lowest possible cryptocurrency prices at the true cost — with no fees or markups — to everyone, and as a result, claims its app can be more cost efficient than dealing with exchanges individually. In explaining how it is capable of delivering these rates, the platform describes itself as an institutional player enjoying “preferential trading terms with major exchanges which allows them to pass on 100 percent…
Investment management company Invesco is launching a blockchain exchange-traded fund (ETF) on the London Stock Exchange today. For the effort, Invesco has partnered with London-based Elwood Asset Management, an investment firm specializing in digital assets, to launch the product called the “Invesco Elwood Global Blockchain UCITS ETF.” Elwood announced the news Monday, saying the ETF is designed to target companies with the potential to generate “real earnings” from blockchain technology. Chris Mellor, head of EMEA (Europe, the Middle East and Africa) ETF equity product management at Invesco, said: “The potential for blockchain to drive real earnings is huge, but it is often hidden within companies involved in other areas. This ETF offers investors access to companies with real earnings now, but with the added potential of blockchain-related earnings not reflected in their share prices.” The ETF carries an annual management fee of 0.65 percent and aims to deliver the performance of the Elwood Blockchain Global Equity Index by “physically investing in the index constituents,” Elwood said in its statement. The index, calculated for Elwood by German provider of financial indices Solactive AG, currently has a portfolio of 48 companies. These include cryptocurrency chip-maker Taiwan Semiconductor Manufacturing Company (TSMC), bitcoin futures trading operator CME Group, South Korean messaging app giant Kakao, Japanese cryptocurrency exchange operator Monex Group, online retail giant Overstock, Signature Bank and Square. The index’s sector allocations currently include information technology (46 percent), financials (23 percent), communication services (9 percent), and in materials and consumer discretionary sectors (8 percent), according to the announcement. The three largest geographical allocations are to the US (39 percent), Japan (29 percent) and Taiwan (12 percent). Elwood CEO Bin Ren said: “We believe the potential for blockchain to change the global economy is greatly underappreciated in today’s market, much like the internet was in the beginning, when most people couldn’t see past its usefulness for email.” Invesco image via Shutterstock
Ground X, the blockchain subsidiary of South Korean messaging giant Kakao, has raised $90 million in a private coin offering. As reported by Bloomberg on Monday, Ground X CEO Jason Han said that IDG Capital, Cresendo Equity Partners and Translink Capital had participated in the round. The firm is also reportedly planning to raise “a similar sum” in another round starting Tuesday, before launching its blockchain platform in June. Kakao first revealed its plan to set up a blockchain subsidiary back in March 2018, soon after confirming that it had launched Ground X to develop a blockchain-powered platform as a foundation for application developers. Kakao’s top execs said at the time that the plan was to integrate future blockchain-based services with Kakao’s existing internet offerings, such as the Kakao Talk messaging app. Ground X launched a test network (or testnet) for its proprietary blockchain network, dubbed Klaytn, last autumn. It has already partnered with 26 companies that aim to run apps on Klaytn, Han told Bloomberg. These include South Korean video game developer Wemade and video streaming platform Watcha, as well as a unit of Chinese travel agency Zanadu. The subsidiary has also said it will work with the Seoul Digital Foundation, an organization created by the Seoul Metropolitan Government, to develop blockchain projects focusing on social and public services. Ground X could be summed up as “partial or gradual decentralization,” Han told CoinDesk Korea last year, adding that some of Kakao’s services could be decentralized. He added: “The token economy is a business model that no one could have imagined before. Until now, Kakao has only operated in Korea, but through blockchain we could expand into the global market. That means taking a portion of the profits we earn as an intermediary and using it to expand our market by sharing it with users.” Jason Han image via CoinDesk archives
Switzerland’s primary stock exchange SIX could soon list another cryptocurrency-based exchange-traded product (ETP), which will track the price of XRP, the third largest crypto asset by market capitalization. Hany Rashwan, co-founder and CEO of the Swiss company Amun AG – which already offers several crypto ETPs – told CoinDesk in an interview that his firm has received approval from SIX to issue the XRP-linked ETP with the ticker name AXRP, adding: “We can comfortably say that we expect to release the world’s first XRP ETP within the next two months.” Besides XRP, Rashwan said that Amun has also obtained clearance to issue ETPs linked to four more single crypto assets, including bitcoin cash (BCH), litecoin (LTC), stellar lumens (XLM) and EOS. While the exact time to launch these products is not yet fully finalized, and will based on buyer interest, he said the firm plans to list all the eligible and approved crypto ETPs on SIX by the end of this year. The SIX exchange listed its first ETP that tracks a basket of the top weighted crypto assets in November 2018. That product was issued by Amun for retail and institutional investors under ticker name “HODL” – slang in the cryptocurrency community for holding rather than selling assets. Since its listing, the total monthly trading volume for HODL has taken over that of XETC – an ETP that tracks crude oil – and became the top traded ETP on SIX in December and January, according to data provided by the SIX exchange (see chart below). However, the price per share for HODL – which tracks BTC, ETH, XRP and LTC – has dropped from $15 in November to around $13 currently, reflecting the overall crypto market decline. In February, its market turnover also dropped to second place, with about $4 million changing hands. In the past few weeks, Amun has also issued bitcoin and ethereum ETPs on the SIX exchange. Rashwan added that to date, most of the buyers for its crypto ETPs are based in Switzerland, while it also has demand from overseas investors with access to the Swiss markets in compliance with their nations’ securities laws. Fully collateralized According to listing rules enforced by SIX, since ETPs are passive investment instruments with no active…
Monday, March 11: Bitcoin (BTC) led a broadly stable start to trading in cryptocurrency markets today, with the largest cryptocurrency barely moving over the weekend. Market visualization from Coin360 Data from Coin360 and CoinMarketCap confirmed the continuing stability for Bitcoin and many major altcoins on Monday, with BTC/USD down around 0.15 percent to trade around $3,900. The area just below the $4,000 price point has proven attractive for Bitcoin for the past five days, ever since it entered from trading closer to $3,700. As Cointelegraph reported, cracking $4,000 has proven too difficult a test in recent times, with an earlier brief spell above those levels resulting in a climbdown which took Bitcoin nearer to $3,500. Bitcoin 7-day price chart. Source: CoinMarketCap In what remains common practice, most altcoins that make up the top twenty cryptocurrencies by market cap repeated Bitcoin’s stability. Ethereum (ETH), the largest altcoin, lost around 1 percent in the 24 hours to press time, still trading around $135, which it has done since March 5. Ripple (XRP), Litecoin (LTC) and EOS (EOS) — the assets comprising the top five cryptocurrencies — produced similar behavior. The top twenty exhibited only one exception to the trend in the form of Stellar’s Lumens token (XLM), which made daily gains in excess of 12 percent on the back of a partnership with solarisBank. Stellar continues to stake its presence in the cryptocurrency consumer industry, late last year sealing a $125 million deal with wallet provider Blockchain, which will see its users receive an airdrop of XLM. Stellar 7-day price chart. Source: CoinMarketCap Further down CoinMarketCap’s table, Tezos (XTZ) also put in a strong performance, rising around 11 percent. In traditional markets, analysts reported a mixed mood in Asia, after slowdown worries continued to impact on both United States and Chinese sentiment amid the trade talks. As CNBC summarized, the Shanghai composite was nonetheless up just under 2 percent Monday, while the Shenzhen composite managed just under 4 percent. In Hong Kong, the Hang Seng also traded up, approaching 1 percent on the day. Japan’s Nikkei 225 finished its trading session up 0.5 percent. U.S. markets were yet to open the week’s trading at press time.