Quick Coin Feeds | Nov 13, 2019

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Major crypto/blockchain news of the day summarized in a way that you don’t miss a single news without having to spend a lot of time.

1. Tron founder sun confirms investment in exchange platform Poloniex

Tron (TRX) founder Justin Sun confirmed investment in exchange platform Poloniex though he had refused such claims back in October. He announced the news while speaking at a joint Tron-Poloniex event live-streamed over Twitter on Tuesday. He, however, stated that the exchange operates independently from his company, the Tron Foundation.

2. Digital Yuan Should Have ‘Controllable Anonymity’ says Chinese official

China’s proposed digitized domestic currency is not a bid to gain full control of information belonging to the general public, a senior central bank official said on Tuesday, adding that the goal was to balance privacy concerns and the authorities’ need for information. Chinese Central Bank Official, Changchun Mu, speaking at a conference in Singapore said that the central bank will not seek full control of users’ personal details, while fulfilling authorities’ need for information.

3. ASX-Listed DigitalX Seeds New Fund With Half Its Bitcoin Holdings

The first ever cryptocurrency firm to be listed on a major stock exchange has launched a new bitcoin fund. DigitalX, which debuted on the Australian Securities Exchange(ASX) under its previous name DigitalBTC as far back as 2015, announced the new fund on Wednesday. The firm said it’s offering qualifying wholesale and professional investors such as family offices and high-net-worth individuals exposure to the cryptocurrency via a “standard unlisted fund structure” without the effort and risk of holding it directly.

4. Netherlands: Police Arrest Founder of Blockchain Startup That Raised Over $80M

Dutch police have arrested the founder of blockchain game development startup Komodore64 that allegedly raised 78 million euros ($86 million) from investors, business-focused news outlet Sprout reported on Nov. 

Komodore64 — which launched in June with the objective to create a game platform where transactions are tracked on blockchain — appeared to be a fraudulent scheme that deceived both investors and its own employees. The project and its native crypto coin K64, which have reportedly secured roughly $86 million in investments, have declared bankruptcy.

5. Bitcoin price will reach $500k by 2028 : Boby Lee

Bitcoin (BTC) will surpass the market cap of gold and could ultimately be worth $1 million, well-known industry figure Bobby Lee has said. In a series of tweets on Nov. 10, Lee, who co-founded Chinese cryptocurrency exchange BTCC and now runs a Bitcoin wallet startup, became the latest voice in the expanding debate on Bitcoin versus gold. 

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