Founders of Alibaba, Bitmain, Binance, Huobi, OkCoin Got On the List of 2018 China’s Richest Businessmen

The Hurun Research Institute published an annual list of the richest entrepreneurs in China in 2018. This time, there are 13 businessmen who got listed there, they are somehow connected with mining cryptocurrency or owning crypto exchanges.

The highest position in the ranking among 13 crypto-personalities was taken by Zhan Ketuan, the founder of Bitmain. His assets, in total, are worth 29.5 billion yuan ($4.25 billion), which allows him to take #94 line in the list.

Next comes Wu Jihan, co-founder of Bitmain Technologies, whose capital counts for 16.5 billion yuan, he is at #240 position in the rating.

Despite the downturn in the cryptocurrency market, the founders of the world crypto exchanges still managed to make a pretty big fortunel. Zhao Changpen (Binance) – $2.1 billion, Li Ling (Huobi) – $1.4 billion, Star Xu (OkCoin) – $1 billion.

Jack Ma, the founder of Alibaba, is also worth mentioning who tops this rating. His equity totals $39 billion, allowing him to become China’s richest entrepreneur.

We remind you

Forbes Published A Ranking Of The Wealthiest Americans, Is there Any Crypto-Related Person?

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OKEx Adds 4 Stablebcoins To Its Listing

A well-known cryptocurrency exchange OKEx announced the support of four stablecoins on its official Twitter account, namely: TrueUSD, USD // Coin, Gemini Dollar and Paxos Standard Token.

Starting from October 15, the platform users will be able to make deposits with these assets. Bidding will start the next day. Tokens will be traded not only in pairs with BTC, but also with Tether.

We also remind, an Internet giant GMO Internet announced the release of its own stablecoin, which will be backed by yen:

Japanese Internet Giant Launches Its Own Yen-Pegged Stablecoin

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Bitcoin Is in Danger: Chinese Hegemony Over the Industry

In June, we mentioned that according to the Ripple’s CEO, China owned about 50% of Bitcoin as there were 4 major mining pools which produced them. As the time has passed, the figures have also raised quite impressively.

As the research of Princeton University and Florida International University shows, now China account for 75% of the whole mining activity of Bitcoin, i.g. #1 cryptocurrency now has large geographical centralization. The biggest threat is that the Chinese authorities may start controlling it or even influencing its stability and security.

The study reports, since 2015, more that a half of total hash power has been composing by the mining pools based in China. One of those is an infamous company – Bitmain. Moreover, the research tells about the ways China can harm Bitcoin.

China adopted a nasty attitude towards Bitcoin long ago, thus nothing can prevent it from attack Bitcoin, thought hegemony over the network still does not allow the Chinese government to destroy it. Bitcoin is a decentralized network, but Chinese authorities spare no effort to control it, as it does to the whole China.

The report has summed up that China brings danger to Bitcoin. We remind you

Founders of Alibaba, Bitmain, Binance, Huobi, OkCoin Got On the List of 2018 China’s Richest Businessmen

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Donald Trump’s Ex-Counsel Became an Advisor of a Blockchain Startup

Trump's assistant became an adviser of a blockchain project

Gary Cohn, a former economic policy advisor of the US President Donald Trump, has become an advisor of the project Spring Labs.

The banker worked at the investment and financial holding Goldman Sachs Group for more than 25 years, he served as a President and Chief Operating Officer. In 2017-2018, he was an assistant of the current President of the United States.

I have been very interested in blockchain technology for a number of years, and Spring Labs is developing a network that could have profound implications for the financial services sector, among others,” said Cohn. “I am excited to actively support the Spring Labs team in the development of this important business and network.”

The other Spring Labs advisors are:

  • the former chairman of the Federal Deposit Insurance Corporation of the United States (FDIC), Sheila Bair;
  • Nigel Morris, the co-founder and former [resident of Capital One banking holding company;
  • the chief lawyer of the crypto exchange Coinbase, Brian Brooks.

We remind you:

Ex-Counsel of Trump Predicts the Emergence of a New Global Cryptocurrency

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Vitalik Buterin Find the Term “Smart Contracts” Not Quite Appropriate

buterin doesn't like the name of smart contracts

The technology of smart contracts is undoubtedly an essential part of the Ethereum protocol. However, Vitalik Buterin now regrets having chosen such a name for his creation. Buterin believes that his word choice should have been more technical and “boring” in order to display the full potential of the technology.

Such a comment was caused by the statement of a Twitter user which said that the word “contract” sounds way too legal, whereas crypto should stay away from governmental regulation.

Recently, the founder of Ethereum has encountered a lot of criticism regarding the issue of decentralization.

We remind you:

Vitalik Buterin Has Been Attacked By Roubini

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A Group of Investors Bought the Crypto Exchange Bithumb

bithumb was sold

As mentioned in the Korean news media, an association of major Singaporean investors BK Global Consortium is now the rightful owner of one of the largest Korean digital asset exchanges, Bithumb.

One of the Consortium members previously used to own a big amount of company’s shares. He has also invested in multiple blockchain-based projects in Singapore.

In the future, the new management of Bithumb is going to proceed with its plan to launch a decentralized branch and is also considering the creation of their own stablecoin.

We remind you:

Bithumb Is Going to Open Up a Decentralized Cryptocurrency Exchange

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Cryptocurrency Prices Today, October 15: Cryptocurrencies Are Growing

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coin360 online platform, Bitcoin (BTC) added 4.21% over the past 24 hours. The price at the time of writing is $6589 per coin.

Cryptocurrencies are in a stable green zone:

Bitcoin Cash added 3.47% over the past 24 hours and costs $462 per coin;

Ripple grew by 6.13% and costs $0.44;

EOS gained 3.55%, and its price is $5.43;

Litecoin increased by 2.15%, and its value is $54;

Cardano added 1.62%, and its cost is $0.074;

Stellar became more expensive by 3.02% and is $0.22 in price;

IOTA added 1.72%, and its cost is $0.58;

Dash gained 2.67%, and its price is $164;

Monero grew by 2.96% and is $105 in value.

Over the past 24 hours, Ethereum added 4.45%. The cost of the coin is $209.

The total market capitalization is $211 billion. Bitcoin accounts for 54.2% of the total. In monetary terms, it is $114 billion.

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