• Class action lawsuit against Block.one
    Alt coins

    Class action lawsuit against Block.one calls $4B ICO ‘biggest of all crypto frauds’

    A lawsuit says the sale of EOS tokens ‘arises out of a fraudulent scheme, fueled by a global frenzy over cryptocurrencies and unchecked human greed’

    Disgruntled investors have brought a class action lawsuit against Block.one, accusing the blockchain software firm of netting $4 billion through an illegal initial coin offering for an unregulated asset that became “virtually worthless.”

  • Libra hires Robert Werner
    Alt coins,  People

    Libra Association hires another exec with financial enforcement experience

    Robert Werner, a former director of the Financial Crimes Enforcement Network, will become the stablecoin governing body’s general counsel

    Robert Werner "brings a wealth of regulatory, financial crime compliance and enforcement experience from his work in both the public and private sectors,” the Libra Association said on May 19.

  • SEC shoots down Telegram
    Alt coins,  Regulation

    SEC shoots down Telegram’s TON blockchain

    Well-known cryptocurrency lawyer Stephen Palley tells Modern Consensus that the Telegram Open Network blockchain’s demise will create headaches for projects funded in similar ways

    Telegram CEO Pavel Durov announced on May 12 that his messaging platform’s active involvement with TON is over—using a blog post to lambast the U.S. judge who effectively stopped the project from going ahead.

  • MakerDAO bringing Bitcoin to Ethereum
    Alt coins,  Bitcoin,  Ethereum

    MakerDAO bringing Bitcoin to Ethereum blockchain

    It’s hoped the addition of ‘wrapped Bitcoin’ will give the DeFi sector a much-needed boost, but bridging the two blockchains is fiddly to say the least; tBTC pitched as a better alternative

    Wrapped Bitcoin—an ERC-20 token that is backed on a 1:1 basis with BTC—is now being accepted as collateral for MakerDAO loans. It’s a significant development, not least because the crypto community has lamented the lack of a bridge between BTC and ETH for some time.