VHCEx Newsflash (Mar 22)

AVNET, one of the world largest electronic component distributor to open a gateway for crypto

In a recent announcement on their website, Avnet said that they were working with Bitpay to accept crypto payment. However, there is no exact date for the release.

Tether does not guarantee any right of redemption or exchange

According to the latest update on their website, Tether added "There is no contractual or other right or legal claim against us to redeem or exchange your Tether for money. We do not guarantee any right of redemption or exchange of Tethers by us for money." So, if you haven't moved to other stable coins, make sure to think about it.

Bitcoin ETF received criticism from seven comment letters

Since Feb, 13th, seven comment letters for Bitcoin ETF have been sent to SEC. While most comments are very optimistic about blockchain technology, the commentators believe that Bitcoin ETF shouldn’t be passed due to the manipulation of the market.

IEO, the new ICO?

Initial Exchange Offering is making its way to the crypto market. Celer recently finished raising their $4 million tokensale in approx 15mins. Before the token sale, many investors have shown the intention of making a quick buck by joining CLR's token sale. However, many of them have tried to get in but the majority of them have failed. Additionally, it is reported that only 3129 out of ~40, 000 investors were able to make it. On a side note, in the OTC market, CLR is currently being sold at 7 times of price at the time of this writing.

Digitec Galaxus, the largest electronic retailer in Switzerland accepts crypto payment

According to the recent press release, Digitec Galaxus has started accepting cryptocurrencies as payment for purchasing electronic devices. At first, Digitec Galaxus will accept: BTC, BCH, BSV, ETH, XRP, BNB, LTC, TRON, NEO and OMG for all purchase over 200 CHF ($200).

Kakao, the largest messaging app in South Korea will integrate crypto wallet

According to Fn news, the South Korean messaging giant will integrate crypto wallet after launching their own blockchain platform, Klaytn. The integration is believed that it will expose crypto to 44 million users. On a side note, Klaytn is expected to be launched at the end of June 2019.

VISA is seeking crypto and blockchain expert for managing tech product

VISA has opened a position for technical product manager at Visa Fintech. The job will be based out in the Palo Alto office of Visa Fintech. In the job description, VISA requires the applicant to have in-depth knowledge about the cryptocurrency ecosystem, players involved, permission blockchain and existing retail payment solution. Additionally, VISA also prefers applicants who are familiar with advanced cryptography.

Japan suppresses crypto margin trading

According to Nikkei Asian Review, Japanese financial authorities will introduce new rules for crypto margin trading. On Friday, draft amendments have been passed which could limit leverage for crypto margin trading in the range of 2x to 4x. Additionally, the current crypto exchanges which handle margin trading will need to renew their government registration.

Bitmain will deploy $80 mln worth of miner rigs in China

Bitmain is planning to deploy 200,000 units of its own mining equipment in China to take advantage of cheap hydroelectric power this summer. The firm will mostly use its new products such as the AntMiner S11 and S15, the sources added, with some older models like the AntMiner S9i/j. The latest models S11, S15 and T15 are all marked as sold out on Bitmain’s own online shop. It’s unclear which proof-of-work cryptocurrencies the company will mine using the machines.