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09/02/2021

Home page has been changed; ZBG cryptocurrency.

07/01/2021

Bitcoin mining company Blockware Mining has raised $25 million in a second round of funding to grow its U.S. operations. The company has now raised a total of $32 million.

Blockware Mining launched in 2019 with a main base of operations in Paducah, Kentucky, USA. The company is building a 30 MW facility in the area and hopes to expand to 100 MW in the future.

The company currently has 300 PH/s of mining capacity, but expects to use the new funding to purchase more hardware and reach 1 EH/s by mid-2022. To put this in perspective, this is equivalent to about 1% of Bitcoin's current global computing power.

In a press statement, Blockware Mining CEO Michael Stoltzner said.

"The scarcity of miners has put up significant barriers to entry for companies looking to enter this business, and we have allocated significant resources to make more transactions and fund our rapid growth."
Huge migration of computing power
The company appears to be taking full advantage of the current global bitcoin mining situation.

China's crackdown on bitcoin mining - which has caused many miners to shut down or begin moving out of the country - has significantly reduced its contribution to bitcoin arithmetic power. This has led to a 50% drop in Bitcoin's arithmetic power due to China's dominance in the space.

While bitcoin's price drop over the past month or so has made bitcoin mining less profitable, this has been offset by the drop in arithmetic power that has made mining easier. This means there is room for existing miners to expand their operations.

This provides opportunities for countries around the world.

The United States, which already has a robust bitcoin mining scene, appears to be taking full advantage, with many mining companies expanding their operations. It could also benefit El Salvador, which is planning to tap into the geothermal energy generated by the volcano to mine bitcoin.

"Currently, only an estimated 10 percent of the world's hash rate is generated in the United States," Stoltzner said. "By offering low hosting rates, Blockware Mining will create a better global distribution of the Bitcoin network while making U.S. computing power more globally competitive."

ZBG is a wholly-owned subsidiary of ZB Group and focuses on ZB international innovation business. Launched in July 2018,...
06/30/2021

ZBG is a wholly-owned subsidiary of ZB Group and focuses on ZB international innovation business. Launched in July 2018, ZBG has quickly become one of the top 10 crypto exchanges in the world with its innovative, efficient and global operations, and is known as a “New First-Tier” exchange.

Currently, ZBG supports 11 languages and provides services for 3 million users around the world with trustworthy cryptocurrency spot and derivatives trading, and other crypto asset investment services. ZBG’s mobile app is available for iOS and Android. ZBG continues to focus on world’s emerging markets such as Russia, Turkey and Southeastern Asia markets, and was named one of the top 3 most welcomed crypto exchanges by Russian media in 2019.

As safety is the key point in cryptocurrency trading, ZBG uses multiple technologies to protect its users and assets. SMS authorization, e-mail binding, two-factor authentication with Time-based One-time Password Algorithm and HMAC-based One-time Password Algorithm from Google, and storing 95% of digital assets in cold wallets help to provide a high level of security.

Coinbase becomes the first company in Germany to receive a crypto custody licence.The German Federal Financial Superviso...
06/30/2021

Coinbase becomes the first company in Germany to receive a crypto custody licence.

The German Federal Financial Supervisory Authority has indicated that Coinbase is now authorised to carry out proprietary trading and cryptocurrency custody services through its local subsidiary Coinbase Germany GmbH.

"On June 28, 2021, the German Federal Financial Supervisory Authority approved Coinbase Germany GmbH to provide proprietary trading and cryptocurrency custody services, limited to crypto assets and bookkeeping. "

This major announcement makes Coinbase's local subsidiary the first crypto company to receive a license from BaFin to offer crypto custody services in the country.

"Coinbase Germany GmbH is therefore the owner of the first licence issued by BaFin for the crypto custody business, which is a newly introduced financial service."
Earlier reports indicate that by February 2020, the German Federal Financial Supervisory Authority has received more than 40 applications for bitcoin custody rights from local banks, including Solarisbank, the first German bank to offer digital asset services.

The German Financial Supervisory Authority has made it clear that the licenses should follow the law thoroughly.

The German Financial Supervisory Authority added that the new business model is based on the EU's fourth anti-money laundering law, a directive that was approved in 2015 and came into force on 26 June 2017.

The directive adds tax evasion and other serious financial offences to the list of existing offences, which means that more transactions must be monitored and more customers must be subject to customer due diligence.

According to the German Financial Supervisory Authority, the crypto custody regulatory model has been extensively studied and reviewed to adequately address the complexities of the cryptocurrency market.

"According to the German Financial Supervisory Authority an interdisciplinary, cross-group and cross-departmental team has been established to deal with the complex issues related to crypto-custody operations."

Coinbase continues to establish its global market position as the crypto industry leader.

This news further establishes Coinbase as a leader in North American crypto startups that have a strong base both inside and outside of the United States.

Coinbase is listed through the NASDAQ and is valued at nearly $100 billion on 14 April 2021, with a current valuation of approximately $56.67 billion.

The company remains a popular one for many regulators in North America and Europe as it is considered to be in strict compliance with regulatory guidelines set out by the US and other regulatory jurisdictions.

In 2018, Coinbase launched a crypto asset custody business to address the security, regulatory and operational challenges posed by the cryptocurrency market.

Its services include cryptographic deposits and withdrawals and bets from custody accounts across a wide range of cryptographic assets, including Bitcoin, Ethereum, Cardano, XRP, USDC Coin, Polkadot, Uniswap, Bitcoin Cash, Litecoin and Chainlink.

Coinbase custody is considered to be the most trusted in the world, covering industry-leading insurance policies and transparency to customers. In addition to New York, San Francisco and Chicago, its hosting services are available to customers in London and Dublin.

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