Today’s Asia Crypto News- June 13, 2018

Chinese nationals are establishing hundred billon funds in Singapore; Ripple CEO says China is under-reported; Binance offer fiat trading

I just watched this video of Jihan Wu, CEO of Bitmain, and the Circle co-founders when they were at Consensus 2018. Bitmain then just led Circle’s $110mn Series E round. What struck me the most was that Jihan, sitting in the center between the 2 founders, is wearing a plain, white t-shirt while the other 2 speakers were so suited up. Are the Chinese tech leaders taking a playbook from the Americans?

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Top News

“I’ll tell you another story that is underreported, but worth paying attention to. Bitcoin is really controlled by China.”- Garlinghouse, CEO of Ripple. http://bit.ly/2t4pa5j

Thousand of crypto funds with combined capital of hundreds of billion of RMB are currently being established in Singapore by Chinese nationals. http://bit.ly/2JHyXFl

Binance to offer fiat-crypto trading via Malta-Based platform in a separate exchange. http://bit.ly/2JLsjy4

Inside the chaotic launch of a $4bn crypto project by WSJ. https://on.wsj.com/2JGvDdy

Coin and Exchange News

CertiK will provide technology to help ensure DApps and smart contracts on the Nebulas blockchain are secure, reliable and resistant to hacking. http://bit.ly/2t0d2C0

VeChain and German company Deutsche Bahn to develop DApp for China’s Logistics Industry. http://bit.ly/2t1JKmJ

Business and Regulation News

Potentially the first case in Japan where illegal use of computers in cryptocurrency mining becomes a criminal case. http://bit.ly/2JHeY9Q

Korea Telecom subsidiary seeks to apply blockchain technology to satellite communications. https://prn.to/2sYPhKK

Some banks had identified suspicious transactions at Coinrail, the Korea exchange that was hacked $40mn over the weekend, and stopped providing services to the company months before the incident. http://bit.ly/2MozP3u