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Investment Firm Arcane Crypto to Go Public via $33 Million Reverse Merger


Arcane Crypto, a Norway-based investment company, said Thursday that it is planning to go public through a reverse takeover by Vertical Ventures, a publicly traded Swedish firm. Vertical Ventures will buy Arcane Crypto for $33 million by issuing over 6.6 billion new shares. Each share cost $0.005...

Trouble in Defi Paradise: Compound-Issued DAI Surpasses DAI in Circulation


A number of cryptocurrency proponents have been discussing the stablecoin DAI this week, as the DAI allegedly held on the Compound platform is much larger than what is recorded in circulation. At press time, Compound statistics show there’s $523 million worth of DAI held in reserves, while...

UK Court Denies Maduro Access to $1 Billion of Venezuela’s Gold


The UK is denying Nicolas Maduro access to Venezuela’s gold worth about $1 billion, stored at the Bank of England. The UK High Court has ruled that the country does not recognize Maduro as president of Venezuela, blocking him from accessing the much-needed gold. England Denies Maduro Access...

Crypto Use-Cases in Africa on the Rise, According to Luno


Twitter and Square CEO, Jack Dorsey recently said “Africa will define the future (especially the Bitcoin one!)” But was he right? Crypto in Africa on the Rise Sad to be leaving the continent…for now. Africa will define the future (especially the bitcoin one!). Not sure where...

Russian Court: Bitcoin Theft Not a Crime


A Russian district court has dismissed bitcoin theft as a crime since cryptocurrency is not regulated in Russia and there is no legal status for bitcoin. The accused were found guilty, sentenced to prison, and ordered to return only the fiat money stolen — not cryptocurrencies....

Bitcoin Investors Pocketed 42% in Gains During the Second Quarter of 2020


The second quarter of 2020 was very profitable for bitcoin investors, according to data analytics firm Skew. During the period, the top cryptocurrency climbed 42%, its fourth-best quarterly close since 2014. For the March quarter, the digital asset fell 10.6%, dragged by the massive Black Thursday...

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