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Cryptocurrency Daily Roundup - Feb.13

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Here is a summary of some of the widely followed stories on cryptocurrency and blockchain during the past 24 hours.

QuadrigaCX Loses Another $500K In Bitcoin By Mistake: EY Report

Canadian crypto exchange QuadrigaCX, which owes its customers millions in cryptocurrencies following the the death of its CEO, accidentally lost another C$500 thousand in bitcoin, according to a report by its court-appointed monitor Ernst & Young Inc. QuadrigaCX has been facing financial and legal troubles after its founder Gerald Cotton died in December. QuadrigaCX's nearly 115,000 customers lost around $190 million as the funds were placed in a cold wallet for safety, and Cotton was the only person who knew the password.

Japan's MUFG to launch blockchain-based payment network in 2020

Japan's Mitsubishi UFJ Financial Group (MUFG) said it will launch a new blockchain-based payment system in 2020. For the new payment network business, it will establish a joint venture in collaboration with US content delivery network Akamai Technologies, Inc. The new venture, named "Global Open Network, Inc." will be headquartered in Tokyo.

Mastercard, Ripple invest in Blockchain-Powered Remittance Platform

US-based overseas remittance startup SendFriend said $1.7 million has been raised in capital in a funding round from MIT Media Lab, Barclays, the Mastercard Foundation, Ripple, Techstars, Mahindra Finance, 2020 Ventures, and 8 Decimal Capital. The Blockchain-powered remittance platform will help Overseas Filipino Workers (OFWs) in the U.S to securely transfer US dollar they receive to Philippines in pesos at low rates.

2 U.S. Public Pension Funds invest in $40 mln crypto venture-capital fund

Two public sector pension funds in Fairfax County, Virginia, have made the lion's share of their investment in a new $40 million cryptocurrency venture-capital fund. The Fairfax County Police and the Fairfax County Employees' pension plans are said to be the first to invest in crypto asset from a U.S. pension fund. Other entities that provided fund-raising support for the Morgan Creek Blockchain Opportunities Fund include an insurance company, a hospital system, a university endowment fund and a private foundation.

Coinbase Wallet users can now back up private keys on Google Drive, iCloud

Major US cryptocurrency exchange Coinbase announced that the users of Coinbase Wallet can now back up their encrypted private keys in their personal cloud storage on Google Drive or iCloud. The addition of the new feature will enable users to safeguard their funds even if they lose their device or misplace private keys.

Current Prices

As of this writing, Bitcoin is gaining 0.05 percent or $1.92 at $3576.01 on Coinbase. Ethereum is up 2.08 percent or $2.48 at $121.42.

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