🚀 "Japanese Linked-In" just invested in Beam🤑 ~ CEOM Coin

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Indian police arrest 4 involved in alleged $14 million crypto racket

According to an Indian National paper, the suspects launched a cryptocurrency last year called Cashcoin, promising victims outsized returns.

This came to light when an alleged victim filed a report to the police claiming he was scammed out of approximately $160,000 USD.

"Initially the gang repaid a few investors to lure more people in and then defaulted. Their intention was to cheat," Indian police inspector Sunil Jadhav said.

Source: TheBlockCrypto

Bitmain Posts $500 Million Loss in IPO Financial Filing

Bitmain lost about $500 million in the third quarter of 2018 amid an overall bearish market for cryptocurrency.

This number was revealed in an update to on its financial results to HKEx for its IPO.

Source: CoinDesk

Owner of Indeed and Glassdoor Invests in Beam

Recruit Co., Ltd. (informally the "Japanese Linked-in") has announced an investment in Beam Development Limited.

The investment was made through Recruit's $25 million fund called RSP Blockchain Tech Fund Pte. Ltd

Recently, Beam (BEAM) announced that it plans to introduce a Mimblewimble-compatible lightning network.

Source: CoinTelegraph

Why it's important to point out that JPM Coin is NOT a cryptocurrency

J.P. Morgan announced JPM Coin, which CNBC hailed as "the first cryptocurrency by a U.S. bank."

Except it's not really a cryptocurrency.

Even In its own FAQ, J.P. Morgan draws a distinction between JPM Coin and crypto.

While cryptocurrency focuses on being open and transparent, JPM Coin calls itself: "Permissioned … Only institutional customers passing J.P. Morgan KYC can transact with these coins."

If that is the case, why does mainstream news frame JPM Coin as a new kind of crypto?

J.P. Morgan could have simply announced a new inter-bank settlement network that lets its customers instantly transfer JPM-deposited dollars.

However, as you can read, it's not as sexy.

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