• Crypto must-reads
    Cryptocurrencies,  People,  Technology

    CRYPTO MUST-READS FOR JUNE 19, 2020

    These Are The Crypto Stories You Should Be Following Today: Crypto can help free the Black community from the power of the dollar; researchers discover Tron may not be a scam; Mike Novogratz just might suck; blockchain can strip bias from AI

    On a Juneteenth when the national dialog is dominated by #BlackLivesMatter, take a look at how “Bitcoin & Black America” author Isaiah Jackson thinks crypto can change his community. In the “keep an open mind” vein, researchers surprised themselves by finding Justin Sun’s Tron isn’t just legit, its ahead of 90% of the projects out there. Switching to keep an open jaw mode, after more than $350 million in losses over two years, Mike Novogratz says Galaxy Digital might “suck”—while sticking to his pro-Bitcoin guns. And if HAL had blockchain he might have opened the pod bay door on his own.

  • Ethereum

    Upbit exchange hacker relieved of ill-gotten gains

    After Whale Alert tweeted a warning that $27,000 in ether stolen from Korean exchange Upbit last year had been sent to his exchange, Binance CEO Changpeng “CZ” Zhao acted quickly

    At 12:06 p.m. on May 13, @whale_alert tweeted out a warning that 137 ETH stolen from the South Korean Upbit exchange last November had been transferred to a wallet address on Binance. Of course, there's another 341,863 ether still missing.

  • Binance jumps into bitcoin mining
    Bitcoin,  Cryptocurrencies,  People

    Binance jumps into bitcoin mining

    The biggest cryptocurrency exchange promises ‘the lowest rates’ but also raises concerns about the concentration of mining power in a few hands

    Cryptocurrency exchange Binance jumped into bitcoin mining business today, announcing the launch of Binance Pool. The move comes only weeks before the third “halving” will reduce the reward for mining a Bitcoin block from 12.5 BTC to 6.25 BTC—an event that has preceded big price increases in the past.

  • 11 crypto firms sued illegal ICOs
    Cryptocurrencies,  People,  Regulation

    Crypto faces ‘The man who took on Wall Street’

    On the day before the statute of limitations expired, the lawyer who extracted $25 billion from banks over the subprime mortgage crisis sued 11 cryptocurrency firms for holding illegal ICOs

    Eleven cryptocurrency issuers and exchanges including Tron, Block.one, and Binance were hit with class action lawsuits last week for holding or supporting initial coin offerings. Ominously, they were filed by a group of lawyers led by Philippe Selendy, who the Financial Times called “The man who took on Wall Street” after he forced 16 major banks including Citigroup, Goldman Sachs, and JPMorgan Chase to pay $25 billion for their part in the subprime mortgage crisis that sparked the Great Recession of 2007.

Subscribe to the
MODERN CONSENSUS Newsletter