Joint Venture Partnership $200m signed by Block.one

Block.one, the blockchain software EOSIO developer, informes about a partnership that sees creation of a new US $200 million joint venture fund, EOS Global
06 April 2018   638

Block.one today reported about a collaboration with blockchain veterans Michael Cao and Winnie Liu. That demands the creation of a new US$200 million joint venture fund, EOS Global. EOS Global will produce strategic investments in Asia-focused projects utilizing EOSIO. It is the fourth infusion of capital through Block.one’s EOS VC initiative which now totals 600m USD.

The blockchain space is a competitive one, but we are convinced that the speed, scalability and usability of the EOSIO open-source platform will enable rapid and radical innovation previously impeded by the limitations of existing protocols. We are incredibly excited to support an architecture that will drive mainstream blockchain adoption and foster new community-driven business models. 

Michael Cao, investor, founder of US blockchain mining facility
 

The new fund proceeds the advertisements of EOS VC partnerships with Finlab AG, Galaxy Digital, and Tomorrow Blockchain Opportunities.

Block.one is delighted to welcome investment from Michael and Winnie’s fund that will leverage EOSIO to catalyze the transformation of the digital assets space in Asia. EOS VC is expanding its global reach through divers partners poised to offer EOSIO projects unprecedented international access. 

Brendan Blumer, CEO, Block.one.
 

Block.one has made an initial obligation to deploy US$1 billion in partnership with heading venture capital investors to support development on the EOSIO platform. The EOS VC program suggests the funding the developers and entrepreneurs need to base community-driven businesses leveraging EOSIO.

Japan to Tighten Regulation Due to Zaif Hack

$ 62 000 000 worth cryptocurrency was stolen from the Zaif exchange few weeks ago
25 September 2018   70

Hacking of Zaif exchange is the reason for toughening control over the market by the financial regulator of Japan, Reuters reports.

The first measure taken was administrative sanctions against the exchange and its operator Tech Bureau Corp. The Financial Services Agency (FSA) has expanded the list of requirements for the latter, pointing out the need to identify preventive measures and search for the organizers of the theft.

Shortly before that, researchers of the Japanese financial company Tech Bureau Corp could not provide details of the theft of $ 62 million from the Zaif crypto exchange at the request of the FSA. The Osaka-based operator had to investigate the causes, consequences of the theft and options for compensating the victims. According to the Agency, the financial company could not cope with the task.

According to the Tech Bureau, the exchange was hacked on September 14 within a few hours. The problem with the server was discovered by the site staff on 17 September. Official confirmation of the incident and notification of the authorities was made only a day later.

Recall, the theft of $ 60 million from the Japanese stock exchange Zaif caused a surge of volatility of bitcoin. For a short time the price was able to overcome the distance of $ 400.