#CryptoCorner: Singapore's GIC Contributed to #Coinbase $300 Million Funding Round

February 28th #CryptoCorner sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch

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Point Roberts, WA and Delta, BC - February 28, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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#CryptoCorner: Singapore's GIC Contributed to #Coinbase $300 Million Funding Round

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Crypto Corner

Singapore's GIC Contributed to Coinbase $300 Million Funding Round, Crypto-Related Money Laundering Reports Increased Tenfold in Japan Last Year, Thai SEC Adds 3 New Cryptos and Macron Advocates for Blockchain in Agriculture

Bloomberg reports that Singapore's sovereign wealth fund, Government Investment Corporation (GIC), was one of the investors that contributed to Coinbase's $300 million financing round last year. The report notes the significance of a major investor like GIC, which has more than $100 billion of assets in over 40 countries, putting money into digital assets. The funding round gave Coinbase a valuation of $8 billion, and Bloomberg notes that the crypto exchange forecasts revenue of $1.3 billion for 2018.

There were over 7000 cases of suspected money laundering linked to cryptocurrency reported to authorities in Japan last year, according to a report from The Japan Times. This marks a tenfold increase from the 669 reported cases between April and December 2017, when authorities made it mandatory for crypto exchanges to report shady transactions. When all types of financial transactions are considered, however, there were 417,465 instances of money laundering reported to police in 2018, most of which involved banks and other financial institutions as opposed to crypto exchanges.

Thailand's SEC has added three new cryptocurrencies to their list of approved coins for ICO investment and trading, according to an official statement. Previously Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Stellar (XLM) were included, but the new announcement adds Bitcoin Cash (BCH), Ethereum Classic (ETC) and Litecoin (LTC) to the list.

Agri Digitale reports that French president Emmanuel Macron has called for the EU to implement blockchain technology in the agriculture industry to enhance product tracking. Quoting a loose translation:

"Let's do this in Europe, the vanguard of agricultural data by developing tools that will track every product from raw material production to packaging, and processing. The innovation is there and it must be used in the agricultural world. It must be fully used because it is at the service of shared excellence and it will serve the consumer."

Job recruitment site Hired reports that global demand for blockchain engineers is up 517 percent this year.

Sam Mowers, Investorideas

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