Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, Venture funding continues with Bitmain leading a capital raise for Circle Financial. Bitcoin Cash completes a network upgrade, and eToro expands operations.
The latest round of funding values the company at US$ 3 billion. The two companies will partner in creating USD Coin, a coin fully backed by US Dollars. USDC will leverage the Ethereum network and be issued on an ERC-20 token.
The upgrade announced in November 2017 was completed yesterday to increase the block size from e 8MB to 32MB. The change ensures that an increase in transactions will not be an issue in the future. Concerns mounted over the higher costs of running a node and possible centralization.
The company recently raised US$100 million and is using the funds to expand into the United States. The company will give users the ability to mimic top performing portfolios on the platform. Participants looking to get on the platform will have to join a waiting list.
LedgerX, a cryptocurrency asset management platform, has launched the first Bitcoin savings account allowing investors to earn a fiat yield their Bitcoin holdings. The company holds both a derivatives clearing organization and swap execution facility registration with the CFTC, signaling an increasing level of sophistication being offered to Bitcoin users.
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