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Country Heights plans asset-backed cryptocurrency

PETALING JAYA: Loss-making property developer Country Heights Holdings Bhd plans to issue an asset-backed cryptocurrency, which will used mainly as an utility or reward token with the company’s services or product offerings.

Coinbase denies trading cryptocurrencies for its own account

NEW YORK: Coinbase Inc, one of the biggest US cryptocurrency exchange operators, denied engaging in proprietary trading after New York’s attorney general said the firm accounted for almost 20% of transactions on its own platform.

San Francisco-based Coinbase doesn’t trade for its own account, Mike Lempres, the firm’s chief policy officer, wrote in a blog post on late Wednesday titled “Correcting the record.”  Instead, the transactions are executed on behalf of retail clients who use its Coinbase Consumer service, Lempres wrote.

Hackers steal US$60mil from Japanese crypto exchange Zaif

TOKYO: The theft of Bitcoin, Monacoin and Bitcoin Cash from Zaif, an exchange owned by Osaka-based Tech Bureau Corp, occurred last week and was disclosed by Tech Bureau in a statement on Thursday. About 2.2 billion yen (US$19.6mil) of stolen coins belonged to the exchange and the rest was client money.

Japanese startup loses US$59mil in crypto hack

TOKYO: Japanese startup Tech Bureau Corp said on Thursday its cryptocurrency exchange Zaif had been hacked, with losses of Bitcoin and two other digital currencies estimated at about 6.7 billion yen ($59.67 million).