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The City of Seoul Will Create a Cryptocurrency for Citizen Rewards

| Richard Meyer

The Seoul Metropolitan Government will establish its first blockchain-based administrative services in November.

Crypto Bank FairX Shuts Down Citing Lack of Funds, Bleak Future

| John Biggs

FairX, a crypto bank that planned to run on the Stellar network, ran out of steam.

Crypto Startup Circle Cuts 30 Employees Citing Market, Regulatory Conditions

| Zack Seward

Circle is laying off roughly 30 people, CoinDesk has learned.

citi, bank

Citi Has Scrapped Its Plan for a JPM Coin-Like Bank-Backed Cryptocurrency

| Ian Allison

Several years back Citi tested a bank-backed cryptocurrency similar to JPMCoin. The lesson it learned? It's easier to rely on SWIFT.

South Korean Crypto Exchange Declares Bankruptcy Citing Embezzlement

| Yogita Khatri

South Korean cryptocurrency exchange Coinbin has declared bankruptcy, in part due to claimed embezzlement by a former exec.

New Zealand Crypto Exchange Cryptopia Goes Offline Citing Hack

| Yogita Khatri

New Zealand-based cryptocurrency exchange Cryptopia has gone offline claiming "significant" losses arising from a hack.

Binance Is Expanding Its Crypto Incubator to 5 New Cities

| Leigh Cuen

One goal of the incubator is to foster projects that could get their tokens listed on Binance's exchange.

Deutsche Telekom, Alibaba Cloud, Citi Join Hyperledger Blockchain Project

| Nikhilesh De

Hyperledger has added 16 new members, including Deutsche Telekom, Europe's biggest telecommunications provider and Alibaba's cloud computing…

Bitmain Closes Israel Development Arm Citing Crypto Bear Market

| Yogita Khatri

Cryptocurrency mining giant Bitmain has reportedly closed down its Israel-based R&D division, citing a crypto market "shake-up."

Steemit Lays Off 70% of Its Staff, Citing Crypto Bear Market

| Christine Kim

"We've been forced to lay off more than 70% of our organization and begin a restructuring," says Steemit founder Ned Scott.