#CryptoCorner: #OKEx Co-Founder Detained in #Shanghai for Fraud Investigation, Paris Saint-Germain Teams with #Blockchain Platform Socios for Fan Token Offering and Canada's First Block Capital Secures Mutual Fund Status for 'Flagship Product'

Point Roberts, WA and Delta, BC - September 11, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner, now available in podcast.

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Crypto Corner

Market Still Seeing Red, OKEx Co-Founder Detained in Shanghai for Fraud Investigation, Paris Saint-Germain Teams with Blockchain Platform Socios for Fan Token Offering and Canada's First Block Capital Secures Mutual Fund Status for 'Flagship Product'

As the week wears on the crypto market is still seeing red, continuing the downtrend that began last Wednesday. At press time, Bitcoin (BTC) is trading at $6275 USD, according to data from CoinMarketCap, and the total market capitalization is $191 billion USD.

The founder of the world's second-largest crypto exchange OKEx, Star Xu, has been detained by authorities in Shanghai, according to local outlet Sina. He was taken to Shanghai's Weifang Xincun police station on the evening of September 10 as part of an investigation on digital currency fraud. If evidence is found against Xu, he will be sent to a detention centre, and if not, he is to be released within 24 hours of detention.

Top-tier French football (soccer) team Paris Saint-Germain has partnered with blockchain platform Socios.com, according to a press release today. As part of their multi-year strategic partnership, Socios is creating a Fan Token Offering (FTO) which enables fans to engage with the team through mobile voting and polling platforms, and opens up exclusive reward content and experiences. Paris Saint-Germain's Chief Partnership Officer, Marc Armstrong, commented on the partnership:

"Always at the forefront of digital innovation, Paris Saint-Germain is determined to leverage the opportunities that cryptocurrency can provide. This revolutionary technology will have an important impact on the Club's overall business strategy and the way we engage with our fanbase. We are very pleased to welcome Socios.com in the Paris Saint-Germain family."

Canadian crypto and blockchain investment company, First Block Capital, Inc., has announced via Business Wire that its "flagship product", the FBC Bitcoin Trust, has achieved mutual fund trust status. This enables unit holders to put units in a self-directed registered account such as an Registered Retirement Savings Plan (RRSP) or Tax Free Savings Account (TFSA). Additionally, the product is now available for purchase on crypto payment system NEO Connect. First Block Capital's co-founder and Chief Investment Officer, Marc van der Chijs, commented on the news:

"With this accomplishment, we continue to push Canada forward as a world leader in regulated blockchain and cryptocurrency investment vehicles. Our goal is to make investments in the digital currency asset class more accessible and we are one step closer to achieving this goal by allowing unit holders to place units in government sponsored tax efficient vehicles, and by providing daily liquidity through NEO Connect, a fund distribution platform with a rapidly growing dealer network."

Sam Mowers, Investorideas

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