OKEx Is Next To Move To Malta
Hong Kong which is known for its business-friendly climate and home to many of the world’s biggest crypto exchanges has turned hostile against crypto-related activities.
This is the total opposite of Malta which have been actively transforming itself into a ”Blockchain Island” through passage of lock-friendly legislation.The second largest cryptocurrency exchange in the world in terms of trading volume, OKEx is about to move shop from Hong Kong to Malta.
Binance, the largest in the world in terms of trading volume has expressed earlier that they are moving to the said country.
Recent moves of these top two crypto trading houses are making this small Mediterranean Island nation one of the top destinations for cryptocurrency startups.
These two cryptocurrency startups are not the only major exchange to move out of Hong Kong. Bitfinex is planning to move its headquarters to Switzerland.
UAE To Launch Blockchain Strategy 2021
The ruler of Dubai and current Vice President and Prime Minister of the United Arab Emirates has launched “UAE Blockchain Strategy 2021” with its primary goal of making it a world leader in adapting technology.
The said strategy is focus on 4 fundamental principles: Citizen and resident happiness, government efficiently, advanced legislation and global entrepreneurship.
In line with this strategy the UAE government will invest in education, events, workshops, and reports to build its standing in Blockchain.
Samsung Building ASIC Chips
The Korean electronics giant Samsung has confirmed that they are manufacturing ASIC chips to mine cryptocurrencies for Haloing Mining.
Samsung is known for manufacturing “High-capacity memory chips” for Video cards that is primarily used for graphics processing and to a lesser extent mining cryptos.
This partnership will be a big challenge for other ASIC builders primarily to the dominant ASIC builder, China’s Bitmain.
Halong Mining has been silent about this new partnership but have release its first miner: Dragonmint T1 that is said to outperform AntMiner S9 in terms of efficiency and performance.
Canada’s Coinsquare Lauched Television Advertisements Ahead of Initial Public Offering (IPO)
Canada-based cryptocurrency exchange Coinsquare has launched television advertisement ahead of its planned Initial Public Offering (IPO) in September 2018.
Instead of doing an Initial Coin Offering the company opted for a more traditional path by doing an IPO and marketing it in a more traditional manner, television advertisements, in an effort to whet the appetite of crypto and non-crypto savvy Canadian investors.
It aims to generate around $150 million Canadian dollars. Coinsquare has earn the moniker “Canada’s Coinbase”.
Power Company To Resume Coal Power Plant Operations To Mine Bitcoin
The IOT Group will be building a cryptocurrency mining hub inside a decommissioned coal-fired power plant in Australia in the Hunter Valley Region.
This was made possible with its agreement with Hunter Energy, an Australian power company which will be providing them with off-grid energy with wholesale prices.
It was reported that a typical consumer of electricity pays around 28 cents per kilowatt-hour, however with this arrangement IOT will only be paying a fraction of that rate at about 5-8 cents per kilowatt-hour depending on the time of day.
At these rock bottom prices Hunter Energy envisions a potential of creating a new Silicon Valley in Australia.
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