Blockchain developer Algorand has joined forces with decentralized software firm Blockstack to develop a new smart contract language that will deliver the safety, security, and predictability demanded by developers working on high-stakes DeFi transactions that run into nine figures.
Spencer Dinwiddie plans rebound from NBA $13.5 million tokenization rejection
The Brooklyn Nets star guard plans to meet with the league to argue that selling a cryptocurrency backed by his $34 million contract doesn’t violate NBA rules
Despite league opposition, Brooklyn Nets star and cryptocurrency enthusiast Spencer Dinwiddie hasn’t given up on plans to tokenize his $34.4 million contract and sell it to investors on the Ethereum blockchain. On September 26, Dinwiddie announced plans to offer tokens worth up to $13.5 million of his three-year contract to investors, trading up-front cash for his per-game payments. His contract is guaranteed, so investors would not lose their money if he is injured. The next day, the NBA told Dinwiddie that the plan violated the league’s collective bargaining agreement with the National Basketball Players Association, which says a player cannot “assign or otherwise transfer” his salary, the New York Times…
SEC doubles down, approving a second blockchain token offering in less than 24 hours
Instead of selling its Props Tokens, streaming video platform YouNow will use the cryptocurrency to reward users and creators
The U.S. Securities and Exchange Commission approved a second blockchain company’s request to sell its tokens to the public on July 11, a day after breaking ground by greenlighting its first public cryptocurrency sale.
SEC finally approves cryptocurrency offering, green-lighting Blockstack token offering
The distributed web platform developer can sell up to $50 million worth of tokens to the public
The U.S. Securities and Exchange Commission has finally given a blockchain company the O.K. to sell tokens directly to investors—sort of. The SEC on Wednesday approved blockchain startup Blockstack’s application to raise money via a token offering, the first time it has allowed this type of fundraising in the cryptocurrency industry, according to the Wall Street Journal. The SEC has sued and fined several companies for initial coin offerings (ICO) that the agency said violated securities law. The action “is a massive step towards the much-needed clarity for the US crypto space,” according to social trading platform eToro’s senior market analyst, Mati Greenspan. “This could be considered the first regulated…