ICON commits $200M to interoperability incentive fund
The South Korean blockchain hopes to fund its interoperability technology to create new cross-chain applications. The ICON Foundation announced plans to launch an interoperability incentive program for 200 million ICX, or approximately $200 million at the time of publication. The foundation supports the development of the ICON network, South Korea’s largest public aggregator chain. The foundation said that it hopes this program will incentivize the ICON community and its partner networks to adopt ICON’s Blockchain Transmission Protocol, or BTP.The incentive program aims to distribute up to....
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Avalanche Foundation showcases a six-figure ecosystem fund, wXRP set to launch smart contracts on Ethereum, and AllianceBlock joins forces with Flare — all coming to you in this week’s Finance Redefined. Welcome to the latest edition of Cointelegraph’s decentralized finance newsletter.For many years, Ethereum and XRP held the second and third-ranking spots in the crypto market. Read on to discover how wXRP will integrate into Ethereum to expand its utility to smart contracts.What you’re about to read is the smaller version of this newsletter. For the full breakdown of DeFi’s developments....
The South Korean tax authority is trying to track the movement of ICO funds raised in foreign countries into its domestic markets. The ICON Foundation, creator of the ICON (ICX) project, has issued an official response to the news that South Korean tax authorities are investigating its technical partner, ICONLOOP. In a statement published on Monday, the chairman of the ICON Foundation, Min Kim, said that the ICON Foundation would not be affected by the investigation, noting that ICONLOOP is operated as a separate entity.The ICON Foundation is a non-profit organization based in Switzerland.....
The Federal Reserve has committed to keeping the fund rate at zero or near zero, maintaining the bull case for bitcoin.
In July, a hedge fund in Jersey issued a press release announcing that it had become the first regulated fund to deal in bitcoin. The Jersey fund, called Global Advisors Bitcoin Investment Fund (GABI), later said it was seeking $200m in assets under management. In subsequent months, mentions of GABI have been regularly prefaced by its status as the first regulated bitcoin hedge fund by everyone from the BBC to Newsweek. Now another hedge fund is challenging GABI's claim. Crypto Currency Fund, managed by Timothy Enneking, says that it, not GABI, should rightfully be referred to as the....