“Bitcoin Trading At A Significant Premium In Argentina”
The Bitcoin price exploded in Argentina after President Mauricio Macri announced he would reinstate restrictions on foreign currency purchases. Bitcoin is trading at a $1,200 premium above spot price on Buenos Aires-based exchange Buenbit. The price exploded to $12,750 per BTC—a total premium of $2250 premium—immediately after Argentinian president Mauricio Macri announced his government would reinstate restrictions on foreign currency purchases. Put in place Monday, Sept. 2, the controls prohibit Argentinians from purchasing more than $10,000 U.S. dollars per month without express permission from the central bank, the Washington Post reported, and put in place deadlines around the remittance of foreign earnings for exporters.
“UK-based Crypto Fund Raises $50 Million To Bet On Crypto Volatility”
U.K.-licensed Nickel Asset Management says it has raised $50 million for a fund aimed to make profits off the volatility of cryptocurrencies. The firm said Monday it has now “soft closed” its Nickel Arbitrage Fund to new investors, two months after launch. The raise was joined by funds of funds and family offices in the U.K., Europe, North America and Singapore. Regulated by the Financial Conduct Authority, the firm says the arbitrage fund strategy “harnesses the extreme swings in crypto markets to deliver low-volatility, consistent performance.” Nickel has built its own automated trading systems. By investing in only those digital assets that have active futures and swap markets, it maintains “an overall market-neutral exposure to volatile crypto-assets,” according to a press release.
“Dapp.com Raises $1 Million”
Dapp.com, an analytic company for decentralized applications, raised $1 million from investors. The company will use them to distribute decentralized applications to users. The platform analyzes and distributes about 3,000 blockchain applications, also providing analytic information for users, with ranking algorithm, about different blockchains, such as Ethereum, Tron, EOS, TomoChain, Klaytn, Steem and IOST. The latest round of financing the company was led by Hashed, with the participation of DU Capital.
“Facebook Announces A Bug Bounty Program”
As Facebook’s ambitious plans for its forthcoming crypto project faces intense scrutiny by regulatory bodies both in and outside of the United States, the social media platform has just launched its Libra Bug Bounty Program, in hopes of getting through to people. Rewards will provide strong incentive with payouts scaling up to $10,000 for finding critical issues on the testnet. According to reports, the bounty bug program isn’t just some tactic that the Libra Association pulled out last minute; in fact the program was going through beta testing and after more than 2 months, is now available to the public. The newest program was announced via post on Libra’s website, according to which is intended to strengthen the security of the blockchain.