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Gemini crypto exchange obtains SOC certification

Gemini crypto exchange obtains SOC certification
  • The well-known brothers of the Gemini Cryptocurrency custodian platform have recently obtained a new security qualification called SOC 1 type 1. 
  • In a blog post published earlier this week, Gemini became the world's first Cryptocurrency custodian that was granted a service organisation control type one certification.  

The well-known brothers of the Gemini Cryptocurrency custodian platform have recently obtained a new security qualification called SOC 1 type 1. 

In a blog post published earlier this week on the 21st of April by the head of risk for the company, Yusuf Hussain, Gemini became the world's first Cryptocurrency custodian and platform that was granted a service organisation control type one certification.

Passing the SOC 1 review meant that the financial operations for Gemini and customer reporting controls comply with the requirements set by the American Institute of Certified Public Accountants. In a nutshell, this means that the examination proved that the platform is capable of mitigating the risk of a significant error, data loss, or omission. The risk head further said:

“While vital to both our exchange and custody platform, the SOC 1 Type 1 is particularly important to our exchange operations, which execute a significant volume of complex financial transactions for our customers. The SOC 1 Type 1 validates the design and implementation of those operations and the integrity of their corresponding reports.”

There are a few other cryptocurrency projects that have also gone under the valuations of the SOC. One of the biggest crypto platforms in the world based in the United States, Coinbase, and its subsidiary Coinbase Custody procured a SOC 2 type 2 and a SOC 2 type 2 report by major accounting firm Grant Thornton.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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The Influential Exchange Where Crypto Projects List Before Elite Exchanges Court Them

The Influential Exchange Where Crypto Projects List Before Elite Exchanges Court Them

In a world full of the generic, droning and dull, we search for things that are unique, inspiring and create meaning in our lives. At the core of it all is our own quest for individuality; to find our truth. It is our individuality that enriches the collective with new ideas and expands our scope of the world around us. It takes a careful eye and a keen understanding of the world to know when something is special when compared to the rest. 

MXC is a crypto exchange that has become a muse of sorts within the crypto community. It has become the first stop for many quality crypto projects which are later picked up by even larger exchanges such as Binance, Coinbase, and KuCoin. To date, MXC has listed over 150 crypto projects of which coins like AVA, RUNE, SNX, COMP, HIVE, BAL, DOT, KSM, DMG, and SXP were listed first before making their way to a larger exchange. 

The fact that so many successful crypto projects had their start with MXC is testament to the thoughtful procurement of assets for the exchange. Being selective with the projects that the exchange decides to list is key to their strategy. With the sheer number of crypto projects out there, MXC meticulously researches and qualifies the projects it wishes to list. Core criteria that the exchange uses for listing is around the crypto’s underlying technology, project leadership, operating model, fundamentals, security, and network scalability.

With a track record for listing only the best projects, MXC is where many crypto projects turn to first in their quest for adoption. Projects that are selected to list on the exchange do not take the selection lightly. Although the implications for these projects are large, the rapport MXC has built as a stepping stone for quality projects only helps the exchange to take an even better foothold amongst its competition as it looks to achieve growth as well.

I am Marcus Henry, an American Writer and Journalist from Austin, Texas (USA). I’ve been working in the tech industry for over 12 years and focused on global developments in the crypto space for the last three. I cover breaking news, discuss new projects, interview leaders and innovators, and demo new tech. Let’s connect on Twitter or LinkedIn.

Disclaimer: The information above does not constitute investment, financial, trading or any other sort of advice and you should not treat any of my content as such. I do not recommend the purchase, sale, or holding of any cryptocurrency or other product and/or service. Nothing I write about should be deemed as an offer to purchase, sell, or hold a cryptocurrency or other product or service. Please do your own research and consult a certified financial professional before making any investment decision.

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Gemini’s Tyler Winklevoss believes “cash is trash“ and that bitcoin will come out on top one way or another

Gemini’s Tyler Winklevoss believes “cash is trash“ and that bitcoin will come out on top one way or another

Quick take

1 minute read

  • “Cash is trash“.
  • Tyler Winklevoss slams Fiat currency in a recent CNBC interview.

“Cash is trash“.

This is what Tyler Winklevoss, one-half of the infamous Winklevoss twins said recently on CNBC it’s only a matter of time before investors decided to abandon the US dollar, as well as other Fiat currencies, and instead opt-in for bitcoin.

He said:

“at some point, it is hard to look at those data points and say that bitcoin isn’t an incredible store of value.“

To that end, the other half of the twins, Cameron said that bitcoin just needs to be “better than gold“. This will help see its price spike to insane levels.

Eventually, bitcoin will hit $500,000 in the twins' eyes. For those that don’t know, the two-run the Gemini crypto platform based in the United States.

The way bitcoin is currently acting would indicate that the twins are somewhat on the right lines. That’s not to say that bitcoin will eventually hit such a milestone as half $1 million but many enthusiasts believe that the ballroom that bitcoin has been recently experiencing is different to the previous market cycles due to how many institutional investors are getting involved with the industry. 

It’s also worth mentioning that bitcoin has matured massively over the course of 2020 and could have a permanent place in a financial system in the near future.

Bitcoin is being adopted all around the world consistently and has been over the past year. Only exciting things seem to be coming for the leading cryptocurrency but before we finish, it is worth noting that we are not financial advisors and this is not financial advice. Please do your own research before investing in a cryptocurrency.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Coinbase co-founder, Fred Ehrsam set to join Fireblocks as a member of the board

Coinbase co-founder, Fred Ehrsam set to join Fireblocks as a member of the board

Quick Take

1 minute read

  • Fred Ehrsam, the co-founder of the crypto platform known as Coinbase is getting ready to join the digital asset security platform Fireblocks. 
  • It was announced last week that Fred would be joining the board following a recent round of funding.

Fred Ehrsam, the co-founder of the crypto platform known as Coinbase is getting ready to join the digital asset security platform Fireblocks. It was announced last week that Fred would be joining the board following a recent round of funding.

The co-founder of the well-known crypto platform is getting ready to join the company as a board member following a $30 million funding ground to help expand its operations on an international level.

Throughout 2020, Fireblocks has launched a secure asset transfer network which would allow more institutions to efficiently transfer assets on chain. And on top of this, the platform also announced that it has seen more than $150 billion in transferred assets over the course of the past year. Fred has said:

“Fireblocks has become the go-to for any business looking to build new digital asset operations or scale existing ones… The extraordinary growth of the Fireblocks Network and its team in the last year attests to the enormous value they have unlocked for enterprise and institutional customers.”

 

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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North Carolina residents to soon have access to Binance.US services

North Carolina residents to soon have access to Binance.US services

Quick take

1 minute read

  • Binance.US is getting ready to launch its services available to North Carolina residence. 
  • Binance published a statement earlier this month Catherine Coley saying that the digital asset marketplace is now available for residents in North Carolina.

Binance.US is getting ready to launch its services available to North Carolina residents. The subsidiary of the major crypto platform Binance published a statement earlier this month on the 12th of November to CT with the CEO, Catherine Coley saying that the digital asset marketplace is now available for residents in North Carolina.

This would allow them to buy, trade and earn cryptocurrency.

“[North Carolina] is a state that has been involved in building the banking industry and evolving technology,” stated Coley.

It is also worth noting that North Carolina is home to the research triangle park. For those that don’t know, this is a well-known high tech research and development company that includes Cisco systems as well as other consulting companies in relation to blockchain.

In regards to this, they further say:

“Research Triangle Park and the robust school systems in the state have it positioned to meaningfully impact the blockchain industry [...] the state can begin to build more companies that have easy access now to cryptocurrencies.”

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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