While the cryptocurrency market went through the cycle of ups and downs this week too, the crypto verse got a taste of mainstream Bollywood with the news of Jonny Depp partnering with a cryptocurrency-based social media platform. Would you like to trade Bitcoin on Ethereum network? Yes, you heard it right! Kyber Networks is developing Bitcoin-backed Ethereum tokens. More exciting news to follow, enjoy this week’s summary till the end.
1. Indian police seized a Bitcoin ATM kiosk in the city of Bengaluru which they believed was set up illegally. Harish BV, the co-founder of a local crypto exchange – Unocoin got arrested for operating the ATM kiosk at Kemp Fort Mall on Old Airport Road. (Source: TIMES OF INDIA)
2. Further, police arrested the second co-founder of the Unocoin – Vishwanath from his residence. Vishwanath was produced before a judge at his residence in Tamakuru. In his defense Vishwanath claimed that government stated Bitcoin as non-legal tenders, not stating them as ‘illegal’. (Source: TIMES OF INDIA)
3. A recent ban by RBI on crypto has forced a renowned crypto exchange – Zebpay to halt its trading in its home country India and move its operations to Malta. This move was predicted by many crypto enthusiasts. Earlier in September, the company announced that it is halting all its exchange services. (Source: ETHEREUM WORLD NEWS)
4. Johnny Depp is partnering with a cryptocurrency-based social platform called The partnership aims to produce films and digital content together. The Actor is already working with the head of TaTaTu – Andrew Lervolino on the adaptation of JM Coetzee’s award-winning novel ‘Waiting for the Barbarians’ (Source: HOLLYWOOD REPORTER)
5. An undercover investigation done by Breaker revealed that more than half of cryptocurrency news outlets are open to taking money to cover a project without labeling the article as ‘sponsored’. The list contains names like Bitcoinist, Newsbtc, Coininteligence, etc. (Source: BREAKER)
6. A new milestone for HTC, as they announced their first Blockchain phone. It can be bought exclusively in cryptocurrencies. The Blockchain phone – Exodus 1 has been priced at 15 Bitcoin (BTC) and 4.78 Ethereum (ETH). The phone will feature cryptocurrency wallet which will allow the user to store and trade digital assets. (Source: SCMP)
7. Kyber Networks are trying to bring Bitcoin on Ethereum Blockchain. They are developing Bitcoin backed, Ethereum-based tokens – Wrapped Bitcoin (WBTC). Kyber is joining hands with several crypto-focused firms like BitGO, Airswap, IDEX, Blockfolio, etc. to make WTBC a reality. In recent months Kyber revealed that WBTC will ERC20 tokens fully collateralized by physical BTC. (Source: ETHEREUM WORLD NEWS)
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