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Paxtradings Crypto Minute: April 4, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: April 4, 2018

Japanese Chat Company, Line, Creates Blockchain Company in South Korea

Line Plus, the mobile platform subsidiary of the large Japanese chat company, Line, has created a blockchain subsidiary called Unblock in South Korea. According to ZDNet, Unblock will conduct research on blockchain and the market to help cryptocurrencies expand to Japan and Southeast Asia. Unblock may also mint its own cryptocurrency and create a cryptocurrency exchange.

Monex Group Inc. Says It Is Considering Acquisition of Coincheck

Monex Group Inc., a Japanese online broker, announced it is considering an acquisition of Coincheck Inc, the cryptocurrency exchange the suffered a theft of USD 530 million-worth of NEM tokens earlier this year. According to CNBC, Monex Group suggested the deal could be worth “several billion yen.” The deal would allow Monex to compete with similar cryptocurrency-focused online brokers — such as GMO Internet Inc. and Money Partners Group.

SEC Files Charges Against ICO Endorsed by Floyd Mayweather Jr. and DJ Khaled

The U.S. Securities and Exchange Commission (SEC) has filed fraud charges against the founders of a USD 32 million ICO called Centra Tech Inc. According to The Hill, Sohrab “Sam” Sharma and Robert Farkas are the co-founders of Centra Tech Inc., which was endorsed by Floyd Mayweather Jr. and DJ Khaled. The SEC accuses the ICO of selling unregistered investments in the form of CTR tokens.

At Least Nine Cryptocurrency Hedge Funds Have Closed So Far in 2018

At least nine cryptocurrency-focused hedge funds have been closed so far in 2018. According to CoinDesk, the closed cryptocurrency hedge funds include Crowd Crypto Fund and Alpha Protocol. Other cryptocurrency hedge funds have struggled as well. Multicoin Capital’s co-founder, Kyle Samani, told Bloomberg “new capital has slowed, even for a higher-profile fund like ours.”

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