Dharma raises $7 million to decentralize a fast-growing corner of the crypto market | A startup is launching a solution that protects users from exchange hacks

Bitcoin $3,461                    Ethereum $107.61  
Crypto Mkt Cap $114B             BTC Dominance 53.40%  

“Cool example [Lightning Torch] of #BitcoinTwitter experimenting on the Lightning Network. — Jack Dorsey, CEO of Square and Twitter

The Big Block

A San Francisco startup wants to decentralize one of the fastest growing corners of the crypto market.

Dharma, the company behind the open-source blockchain of the same name, has raised $7 million to build out a decentralized lending platform for large investors and traders in crypto.

The firm announced its Series A fundraise, led by Green Visor Capital, in a press release on Tuesday. Other investors include Polychain Capital, Passport Capital, Y Combinator, and Coinbase Ventures. Much of the capital raised will be used to build Lever, a platform that will facilitate peer-to-peer crypto lending, the firm’s marketing head Max Bronstein said. Lending has been a red-hot area of growth in the dwindling market for digital currencies.

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Around The Block

A startup is launching a solution that protects users from exchange hacks

Bitcoin was launched with the premise of disintermediating the financial system. Yet here we are ten years later and centralized exchanges are still holding large amounts of cryptocurrencies on users’ behalf. Coinbase has approximately $5 billion worth of cryptocurrency under management – 5% of all bitcoin, 8% of all ethereum, and 25% of all litecoin in circulation.

Boston-based startup Arwen is proposing a new solution – software that lets users maintain custody of coins while trading on a centralized exchange. Instead of peer-to-peer, Arwen built a system that is more like peer-to-exchange. — More

Google software making bitcoin and ethereum transaction history searchable

Google has turned its attention to blockchain, quietly developing a suite of tools—Blockchain ETL—to analyze bitcoin and ethereum transaction data, reports Forbes. Allen Day, leading developer advocate, and his team of open-source developers have loaded the software into Google’s analytics platform, BigQuery.

Blockchain transaction history has not traditionally been easily searchable, requiring specialised block explorer software. With Google’s Blockchain ETL, users can make generalized searches. Day says he hopes his tools will be educational, teaching users for what and by whom blockchain is used. — More

Money 2.0 Stuff: Price Discovery Is Immoral — More

Decentralized lending protocols processed more than $250 million in originations in 2018 — More

Zcash Company discloses fixes to counterfeit vulnerability on the Zcash network — More

Bloomberg maps out the most notable money-laundering crackdowns in recent history — More

Former Bitfinex exec joins stablecoin liquidity initiative hoping to fuel ‘mass adoption’ — More

Blockstream’s tool to prove the exchanges’ reserves goes open source — More

$312 million in Mt Gox crypto allegedly sold by trustee through BitPoint — More

Fintech 50 2019: Forbes gives a nod to the leading players of blockchain — More

India’s cryptocurrency panel expresses concern over digital coin destabilising rupee — More