BLOCKCHAIN

Tim Draper Backed DeFi Project DMM Up 2X Despite Issue-Plagued Sale

[ad_1] Lending platform Defi Money Market (DMM) — backed by Tim Draper’s Draper Venture Network — has had a difficult birth.The Initial DEX Offering (IDO) has completed successfully, raising $6.5 million in 48 hours, but investors reported problems with completing transactions, a confusing interface or raised trust issues around the company’s background.Separately Telegram scammers made off with $40,000 from users trying to buy — although DMM kindly made up for
Business

Shares in Grayscale’s Ether Trust Plummet 50% — and It’s Still Expensive

[ad_1] Shares in Grayscale’s Ethereum Investment Trust (ETHE) have crashed by 50% in just four days on the secondary, over-the-counter (OTC) markets.With each share representing 0.094 Ether (ETH), the sharp retracement has seen the price premium on the trust’s shares fall from 750% to roughly 360% in less than two weeks.ETHE’s current price of $102.5 means that investors are willing to pay an implied price of $1,090 per Ether in
Business

SEC Suit Over $30m Crypto Scam Halted Due to Criminal Proceedings

[ad_1] A judge has granted a motion from the U.S. attorney’s office to pause the SEC’s action against Edit Pardo and Boaz Manor for their involvement in the alleged $30 million crypto investment scam CG Blockchain.United States District Judge Stanley Chesler cited a parallel criminal investigation into Pardo and Manor in granting the motion to stay the Security and Exchange Commission's action, reasoning that halting the suit until the conclusion
Business

Australians Can Now Pay for Bitcoin at the Post Office

[ad_1] Australians can now pay for Bitcoin (BTC) at the country’s post offices, thanks to a new collaboration.According to a June 24 announcement, customers of local cryptocurrency exchange Bitcoin.com.au will be able to pay for Bitcoin at more than 3,500 Australian Post offices.The firm’s CEO Holger Arians explained that he believes the new payment option will make some people more comfortable with buying crypto:“For many people, paying for Bitcoin at
Business

Judge Accepts Craig Wright’s Autism Defense, Says No to Sanctions

[ad_1] Craig Wright, the man who proclaims himself Satoshi Nakamoto, will not be subject to court sanctions and has been cleared to present an expert witness in support of his autism claim, when the Kleiman case proceeds to jury trial in two weeks.According to court documents filed June 24, U.S. District Judge Beth Bloom has ruled against a motion the Kleiman legal team filed on May 21 requesting sanctions be
EXCHANGES

There Are Reasons to Be Bullish After Bitcoin Crashed $600 on Tuesday

[ad_1] Yesterday, investors were expecting for Bitcoin to re-enter a decisive uptrend. As reported by Bitcoinist, the cryptocurrency surged to $9,800 — the highest price BTC has traded at in approximately 10 days. The move came on the back of strength in the altcoin sector and in the value of American equities. Microsoft and Netflix, for instance, hit new all-time highs on Monday as the world continued to cement its
Business

3 Indicators Show Traders Are Bullish on Friday’s Bitcoin Futures Expiry

[ad_1] Investors are magnetically attracted by the $1.1 billion Bitcoin and Ether options expiry scheduled to occur Friday, June 26, but they might be missing some relevant indicators of the futures contracts. June 26 will also be the last trading day for many weekly and monthly Bitcoin (BTC) futures totaling $665 million at the time of writing.For futures participants, longs (buyers) and shorts (sellers) are always balanced; hence no price impact
EXCHANGES

Report Finds Public Trust of Bitcoin Will Soon Outweigh that of Big Banks

[ad_1] Bitcoin’s status as a “safe haven asset” has grown in recent times due to its performance against a backdrop of global uncertainty This narrative has also been bolstered by the massive amounts of money printing and inflation seen throughout the globe The recent halving event shined a spotlight on Bitcoin’s deflationary structure and fixed supply All these factors appear to have built up the public’s trust in the benchmark
Business

Sweden’s Central Bank Releases 98-Page ‘Economic Review’ Devoted to CBDC

[ad_1] Sveriges Riksbank, Sweden's central bank, took a 98-page deep dive into central bank digital currencies, or CBDCs, referencing the country's own such asset — the e-krona. "The second issue of Sveriges Riksbank Economic Review in 2020 has a special theme, namely central bank digital currencies (CBDC) and the e-krona," Riksbank's June 18, 2020 report said in an initial note to readers. Sweden's interest is not newIn December 2019, Sweden unveiled intentions for
Business

Canadian Bitcoin Scam Expands to British Columbia

[ad_1] The Royal Canadian Mounted Police, or RCMP, in Burnaby, a district of Vancouver in British Columbia, reported a surge of Bitcoin (BTC) related scams across the city. This news comes amid recent reports of similar activity occurring across Canada.Authorities say scammers call their victim and impersonate a member of the RCMP. The scammer then falsely states that the police have an arrest warrant for the victim related to fraudulent