• This doesn't look like a good business plan (via Pixabay).
    Alt coins

    Stellar burned by $3.5 billion gamble

    The Stellar Development Foundation just lost billions to give other lumen cryptocurrency owners a mere $260 million windfall.

    On November 5, the Stellar Development Foundation shocked attendees of its first Stellar Conference in Mexico City by announcing that 55 billion of the 105 billion lumen (XLM) in existence had been “burned” by sending them to a wallet with no key.

  • stellar
    Alt coins,  Media

    Stellar’s not-so-stellar few days

    Facebook denies friending Stellar

    Stellar’s lumen has gone dark on Poloniex, capping a wild few days of rumors and refutation of rumors. Depositing or withdrawing the token has temporarily been halted on the Circle-owned trading platform days after Facebook said it wasn’t working with the crypto company. On Friday, Business Insider published a report claiming, “In recent months, Facebook’s blockchain team, led by the former PayPal executive David Marcus, has met with the open-source payments-technology company Stellar about some of those opportunities, people familiar with the talks told Business Insider.” The BI story cited “a Stellar insider,” for some fairly pro-Stellar spin: “‘They’d be taking the rug out from under the banks,’ the person…

  • SEC
    Bitcoin,  Ethereum,  Politics,  United States

    Timing of Coinbase move to add Ethereum Classic raises eyebrows

    Token joins coveted shortlist but causes some to wonder about a heads up from SEC

    Holders of Ethereum’s ether token () breathed a sigh of relief last Thursday when William Hinman, the SEC’s director of corporate finance, announced at a Yahoo Finance summit that ether is not a security. Many were not just heartened by the development but surprised, since the currency had clearly been released as a way to fund operations, which those following the developing regulatory picture consider a warning sign. But at least one party with a lot riding on Ethereum’s success doesn’t seem to have been caught off guard. Coinbase, the largest U.S. exchange, appears to have been anticipating the move, leading some industry insiders to wonder just how closely the…