Ripple Hit With Class-Action Suit Over ‘Never Ending ICO’
Lily Katz – Bloomberg
Plaintiff alleges Ripple sold unregistered securities; Startup created XRP tokens ‘out of thin air,’ complaint says
Ripple Labs Inc., the fintech startup that controls the world’s third-largest cryptocurrency, was hit by a lawsuit alleging that it led a scheme to raise hundreds of millions of dollars through unregistered sales of its XRP tokens.
Will the Real Bitcoin Please Stand Up?
Jen Wieczner – Fortune
The great Bitcoin fork of 2017—when the original blockchain split last August to create Bitcoin Cash—appears to have ended pleasantly, at least for investors. The sum of the parts turned out to be greater than the whole: Within a week of the split, the two assets together were worth more than $15 billion in additional market value that didn’t exist prior to the fork.
J.P. Morgan Files Patent for Blockchain-Powered Payments
Polina Marinova – Fortune
Here we go. J.P. Morgan Chase has applied for a patent to facilitate payments between banks using the blockchain.
Top crypto exchange Coinbase prepares for a monster increase in trading
Kate Rooney – CNBC
In a response to New York Attorney General Eric Schneiderman’s inquiry into exchanges, Coinbase said it increased its transaction capacity by 1000 percent year over year. The private company doubled the size of its full-time engineering staff and has overhauled much of the the platform’s code to gear up for more activity. The leading U.S. marketplace for cryptocurrencies has been quietly preparing for a monster increase in trading volume.
Is Bitcoin a Safe Investment?
Ellen Chang – U.S.News & World Report
The recent volatility in bitcoin and other cryptocurrencies has made many investors wary along with the continued hacking of the exchanges where people buy and sell the digital currencies.
Warren Buffett says cryptocurrencies ‘will come to bad endings’
Billionaire investor Warren Buffett hasn’t become any fonder of cryptocurrencies. In reply to a question at Berkshire Hathaway’s annual meeting on Saturday, the chairman and chief executive reiterated …
Tokenised diamonds to test limits of cryptocurrency investing; Digital issues backed by Siberian assets the latest in a clutch of experimental sales
Don Weinland and Krithika Varagur – FT
A Russian state-owned fund has a novel strategy for attracting investment to the tundra and swamps of Siberia: selling its forests, gas, gold, even its fresh water and fish, one digital token at a time.
Cryptocurrency exchanges step away from Japan and Hong Kong; Big industry players find homes where regulators are not as strict
Masayuki Yuda – Nikkei
Asia is becoming a less attractive market for large cryptocurrency exchange operators due to regulatory uncertainties. At least three major exchanges have announced or voiced the idea of fleeing the region.
Telegram Token Sale Is Likely a Victim of Rising ICO Scrutiny
Camila Russo and Olga Kharif – Bloomberg
Telegram Group Inc., an encrypted messaging app, has reportedly scrapped plans to issue digital tokens in a public sale after raising a whopping $1.7 billion privately.
Crypto Pioneers Head to Brooklyn to Reshape Finance
Rob Urban and David M Levitt – Bloomberg
Bushwick, Williamsburg neighborhoods sprout cultural ferment; Employees followed Ethereum guru Joseph Lubin to borough
The building looks abandoned, but inside the graffiti-covered door, 200 workers tap at laptops with the goal of reshaping the world.
Crypto Brokers Push for Transparency Before Rules Get Made
Todd White – Bloomberg
Quest for regulation may be a sign crypto market is maturing; Austria’s Bitpanda, eToro in U.K. both see benefit from rules
The latest calls to regulate the exploding cryptocurrency market come from an unusual place.