• JPM Coin goes live
    Cryptocurrencies,  Technology

    JPMorgan’s digital currency goes live

    The first bank-created cryptocurrency, the JPM Coin, will be used for cross-border payments by a global IT firm starting this week

    The bank has also created a new division for its digital currency and blockchain business called Onyx. The move marks the bank’s belief that the technologies are ready to be commercialized

  • ConsenSys acquiring JPMorgan Quorum
    Technology

    ConsenSys acquiring JPMorgan’s Quorum enterprise blockchain solution

    The deal is a big win for Joe Lubin’s Ethereum venture studio, and will allow the bank to pull back from supporting an open blockchain with a growing number of users

    Ethereum-focused enterprise blockchain development firm ConsenSys announced that it will acquire JPMorgan’s Quorum distributed ledger solution. It is part of a strategic investment in the firm by JPMorgan.

  • ConsenSys cut 14% of staff
    Ethereum

    ConsenSys cut 14% of staff today, blaming the COVID-19 pandemic

    Another round of layoffs hit 90 people at Joe Lubin’s Ethereum venture studio, two months after similar cuts related to a reorganization

    Two months after ConsenSys cut 14% of staff in a round of layoffs, the axe has struck once again at Joe Lubin’s Brooklyn-based Ethereum venture studio. On April 20, the company announced another 14% reduction in headcount, this time attributed to the coronavirus pandemic downturn. That’s about 90 people. “Like most of its peers, ConsenSys is seeing extraordinary uncertainty in the market, with businesses rebalancing priorities and reevaluating timelines,” a spokesperson told Modern Consensus via email. “In such an environment, we must make changes to conserve resources and ensure our continued ability to support our customers, drive innovation, and serve the broader ecosystem.”  Adding that “no particular areas that were…

  • KPMG Pulse Fintech blockchain 2019
    Cryptocurrencies

    KPMG: Fintech boom but blockchain bust in 2019

    Despite 30% fewer deals than 2018, the auditing and advisory firm predicts blockchain will ‘remain robust well into 2020’

    Despite an overall blockbuster year for Fintech, there was a blockchain bust, with investment falling substantially in 2019, according to KPMG. Global private investment in blockchain and cryptocurrency dropped from $6.3 billion in 2018 to $4.7 billion last year.