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LianLian International Joining RippleNet
Chinese payment provider, LianLian International, is joining Ripple’s payment network, RippleNet, to facilitate cross-border transactions. According to CoinDesk, LianLian International is only using Ripple’s underlying technology, not its cryptocurrency (XRP). The new partnership will allow “existing RippleNet members to connect with the Chinese market.”
Berkley, CA Considering an ICO to Compensate for Lack of Federal Funding
Elected officials in Berkeley, California, may conduct an ICO to raise funding for affordable housing after U.S. President Donald Trump threatened to cut federal funding from sanctuary cities. According to Business Insider, the city’s tokens would be backed by municipal bonds, and token owners could spend their tokens at shops or restaurants. They could also use them to pay rent to landlords who participate in Berkeley’s cryptocurrency ecosystem. Berkley, CA would be the first U.S. city to conduct an ICO.
Alexis Ohanian Steps Back from Reddit to Focus on Investing in Emerging Technologies like Blockchain
Alexis Ohanian has announced he will no longer perform day-to-day duties at Reddit, which he co-founded. Instead, he is focusing on his venture capital fund, Initialized Capital, which invests in emerging technologies like blockchain. According to NewsBTC.com, he has already helped Mediachain, Buttercoin, Coinbase, and Digital Currencies Fintech to find necessary funding.
Forbes Releases First-Ever List of Richest Individuals in Cryptocurrency
Chris Larsen, the founder of Ripple, has topped Forbes’s first-ever list of the richest individuals in cryptocurrency. His net worth has reached an estimated USD 20 billion. Changpeng Zhao (“CZ”), the 41-year-old Chinese-Canadian coder who runs Binance, is also one of the top individuals on the list. CZ has an estimated net worth of USD 2 billion.