Vanguard’s $1.3 Trillion Blockchain Makes Bundesbank Look Foolish

By CCN: Vanguard, the world’s largest provider of mutual funds, is using blockchain to power their enterprise. The investing giant, which popularized mutual funds and exchange-traded funds (ETFs) for the common investor, has been using distributed ledger technology to manage $1.3 trillion worth of index funds, Forbes reports. Vanguard’s Blockchain Manages More Than $1 Trillion in Assets Since February, Vanguard has used blockchain to manage financial data for one-quarter of its assets, valued at $1.3 trillion. More than just a one-off trial, the service is operating live for millions of…

Brazil Establishes Committee for Cryptocurrency Regulation

The President of the Chamber of Deputies of Brazil has ordered to establish a commission to consider cryptocurrency regulation in the country, Cointelegraph Brasil reported on May 31. The Chamber of Deputies of Brazil is a federal legislative body and the lower house of the National Congress of Brazil, and consists of representatives of the states elected every four years. The Chamber discusses and approves proposals for economic and social areas such as education, health, transport, and housing. On May 30, the President of the Chamber of Deputies, Deputy Rodrigo…

Most Ethereum Decentralized Apps Not Used Productively

83% of decentralized applications (DApps) on the Ethereum network are “not in the most productive uses,” according to Ernst & Young’s (EY) head of innovation. Paul Brody, Global Innovation Leader for blockchain at Big Four audit firm EY, spoke about developments in the blockchain and digital asset industries during a Fintech Forum hosted by the United States’ Securities and Exchange Commission’s (SEC) on May 31. The event was organized by the SEC’s Strategic Hub for Innovation and Financial Technology (Finhub, which) launched in October 2018 to facilitate the commission’s engagement…

Crypto Exchange Bitfinex Temporarily Shuts Down Deposits and Withdrawals

Cryptocurrency exchange Bitfinex has temporarily shut down its services, according to a tweet published on May 31. The tweet specifically says that the change has temporarily paused deposits and withdrawals “due to the outrage of one of [their] network providers.” “Funds are safe in cold storage. Situation should be restored ASAP (ETA 3/4h). Apologies for the inconvenience,” the company further states. Bitfinex CTO Paolo Ardoino has posted links to the exchange’s hot wallets, so as to insure the community that there are no outgoing tokens and that user funds were…

Coinbase President and COO Departs From the Company

American major cryptocurrency exchange Coinbase’s president and chief operating officer (COO) Asiff Hirji has left the company, Bloomberg reported on May 31. A source familiar with the issue told Bloomberg that Coinbase named Emilie Choi, vice president of business, data and international, as its new COO. Prior to the appointment, Choi — who served at Yahoo Inc. and worked on the original Alibaba investment and Flickr acquisition — worked on potential partnerships and acquisitions at Coinbase. Hirji’s previous work experience is marked with over 15 organizations, including IBM Canada, venture…

Tether Stablecoin Now Available on EOS Blockchain

Blockchain tech company Tether has announced that it is partnering with EOS parent company Block.one to release its stablecoin (USDT) on the EOS blockchain (EOSIO), according to a press release shared with Cointelegraph on May 31. According to the announcement, Tether developed the Tether EOS smart contract, which has been sent to the EOS account “tethertether” and peer-reviewed by the Canadian branch of EOS. Tether EOS is reportedly well-suited for peer-to-peer microtransactions, due to its delegated proof-of-stake design. Tether’s Chief Executive Officer, Jean-Louis van der Velde, said that expaned the…

Binance Charity Foundation Signs Memorandum of Understanding With Ugandan NGO

Binance Charity Foundation (BCF), the charity arm of major crypto exchange Binance, has signed a Memorandum of Understanding (MoU) with Safe Future, a non-governmental organization (NGO) in Uganda focused on local education improvements. Binance announced the development in an official blog post on May 30. The Binance for Children Special Impact Education Project Uganda reportedly aims to provide a number of new supplies to schools in Uganda, such as solar panels, sanitary pads, school supplies, LED screens, as well as breakfast and lunch for students. According to the CEO of…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Bitcoin SV, Stellar, Cardano: Price Analysis May 31

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. Michael Novogratz, founder and CEO of cryptocurrency merchant bank Galaxy Digital, believes that the adoption of the blockchain technology by mainstream technology companies and interest by Wall Street firms helped start the rally. He now expects Bitcoin to remain range bound between $7,000 and…

Bitcoin Price Recovers 5.50% Following $1,100 Dip

It took bitcoin just five hours to drop from its year-to-date high of $9,090 to $7,972. But, according to Crypto Michaël, the world’s leading cryptocurrency is still bullish. The prominent cryptocurrency analyst said on Friday that bitcoin’s 13 percent drop could be a “normal retracement,” notably after a giant move that pushed the cryptocurrency’s rate up by almost $5,000 in just two months. Michaël further noted that traders bought bitcoins immediately after its latest dip. As a result, the cryptocurrency recovered by up to 5.50 percent, which hinted that the cryptocurrency market is…

Binance Coin (BNB) Slide 6.1% but Margin Trading Could Spur Demand

Binance Coin (BNB) falls 6.1 percent If the rumor is true, Binance is close to activating Margin Trading After six months of stellar performance, Binance coin (BNB) is correcting. Even so, if Binance enables margin trading, the demand for BNB will increase, buoying bulls aiming at $43. Binance Price Analysis Fundamentals They may be centralized and prone to hacks, but exchanges play a crucial role in the crypto ecosystem. Not only do create a market place for even the most illiquid digital assets, but these ramps bridge fiat and cryptocurrencies.…