Here is a summary of some of the select stories on cryptocurrency and blockchain during the past 24 hours.
Blockchain Spending In Asia/Pacific Excl. Japan To Reach $2.4 Bln By 2022: IDC
Blockchain solutions spending in the Asia Pacific excluding Japan (APEJ) is expected to reach $2.4 billion by 2022, according to a report by market research firm International Data Corp. or IDC. The financial sector accounts for about half of the spending, throughout the forecast period. In its Worldwide Semiannual Blockchain Spending Guide, IDC reported that blockchain spending in the APEJ will also surge 83.9 percent to reach nearly $523.8 million in 2019 from $284.8 million spent in 2018.
Coinbase closes Chicago engineering Office, cuts 30 jobs
Cryptocurrency exchange Coinbase shut down its office in Chicago after it decided to cancel plans to build a new matching engine for high-frequency trading. In the process, around 30 employees were laid off. The Chicago engineering office, known as Coinbase Markets, was opened in May 2018. It was designed to work on electronic markets technologies including matching engines.
PayPal Wins Patent For Crypto Malware Detecting Technology
PayPal has won patent for a technology that could help the online payments giant detect a type of cryptocurrency malware and mitigate its effects. The U.S. Patent and Trademark Office (USPTO) officially granted the patent to Paypal on April 16, more than 2 years after the company applied for it. Ransomware can encrypt the contents of a hard drive or other networked files and make it inaccessible for system users, who lack decryption keys, will no longer be able to readily access their data.
Internet Drug Ring Pleads Guilty Of Laundering Millions In Cryptocurrency
The Manhattan District Attorney's Office said two drug dealers have pleaded guilty of laundering $2.8 million in cryptocurrency and Western Union payments by selling steroids and other controlled substances online. Callaway Crain and Mark Sanchez, both 35, are the first to be convicted in New York State for money laundering involving cryptocurrency. Manhattan District Attorney Cyrus R. Vance, Jr. said that between 2013 and 2018, the two men sold steroids and other drugs across the U.S. via their website "NextDayGear" and on the dark web.
Current Prices
As of this writing, Bitcoin is trading down 1.85 percent or $103.18 at $5468.17. Ethereum is declining $5.10 percent or $8.87 at $165.06.
For comments and feedback contact: editorial@rttnews.com