A total of $225,000 has been funded to the blockchain startup to design cryptocurrency features for the U.S. dollar. Key Retroactivity Network Consensus is a protocol that would allocate a scarce cryptocurrency like bitcoin to fiat dollars. The digital currency will be distributed free of charge to users in proportion to their already existing wealth, so anyone who holds dollars can interact with decentralized applications without having to purchase cryptocurrencies such as bitcoin or ether.
The two US crypto companies hope to scoop up growing institutional demand for physical bitcoin. Galaxy Digital’s trading arm and regulated bitcoin futures provider Bakkt said the service will offer asset managers and other institutional investors a “white glove” trading and custody solution.
The crypto payroll startup started offering employees a way of receiving wages paid in cryptocurrency, but without the volatility. Company clients can also sign up to the Bitwage platform in order to pay their workers using the USD Coin (USDC) stablecoin, which is linked to the price of the U.S. dollar
Daily Ethereum network fees surpassed those of the Bitcoin network for two consecutive days on June 6 and June 7. The total amount in fees spent on the Ethereum network added up to $498,000, compared to Bitcoin’s $308,000. The gap continued to widen the next day, totalling $540,000 and $258,000 represectively.
Following the news that Tron 4.0 is to be launched on July 7, marking the end to the Tron Odyssey version, the price of TRX is up by 13.5% week on week. Its developers also claim that Tron 4.0 will be small and medium developers’ first choice for building dapps, as well as that it’ll “become THE gateway for financial institutions and enterprise users to enter the world of blockchain.”
South Korean company, Kakao, announced that its new crypto wallet function surpassed 100,000 users in less than a day in its chat app, KakaoTalk. The Klip app was launched with support for 11 cryptocurrencies. Nearly 90% of the country’s population currently uses the chat app, and the company hopes to draw them all into the crypto sphere.
The startup sought to let readers directly support journalists, and help journalists collaborate to build their own publications, receiving $5 million from ConsenSys in 2017 to support this mission. However, it later failed to raise $8 million in a token sale, and had to refund investors the funds it did raise (ConsenSys was the largest backer of this token sale).
Today the price of Bitcoin went from $9,895 to around $10,429 over the course of 30 minutes as a new wave of volatility in US greeted the end of the daily closing period for June 1.
The large spike in BTC’s price comes as violence erupts on the sixth day of protests over the death of George Floyd at the hands of Minneapolis police. BTC has since cooled slightly and is currently changing hands for around $10,191.