AlgorandAlgorand ALG STO news

Algorand is a decentralized digital currency and transactions platform.
Soft cap
Hard cap

World latest news

Binance.US Gains Momentum in First Month Exceeding $15 Million Daily Trading Volume

Launches Debit Card Payments Beginning Nov. 1 In its first 30 days since launching, the American digital asset marketplace, Binance.US, has jumped to $15 million in daily trading volume and increased token listings from seven to 24 tokens, bringing a total of 40 trading pairs to U.S. users. Starting today, users can buy cryptocurrencies on Binance.US using debit cards, joining existing USD on-ramp and off-ramps, including ACH and bank wire. Also, traders can now start using BNB to pay for trading fees to receive a discount. Binance.US is a fast, secure and reliable digital asset marketplace that launched in late September, and now offers access to buy and sell the following digital assets: Bitcoin (BTC), BNB, Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC) and Tether (USDT), Algorand (ALGO), Basic Attention Token (BAT), BUSD (BUSD), Cardano (ADA), Chainlink (LINK), Cosmos (ATOM), Dash (DASH), Dogecoin (DOGE), Ethereum Classic (ETC), IOTA (IOTA), NEO (NEO), Ravencoin (RVN), Stellar (XLM), Waves (WAVES) Zcash (ZEC), and 0x (ZRX). For now, Binance.US services 37 states ...Full story available on

Binance.US Exceeds $15 Million Daily Trading Volume One Month after Launch

Coinspeaker Binance.US Exceeds $15 Million Daily Trading Volume One Month after LaunchIn September, one of the world’s most popular cryptocurrency exchanges Binance launched its U.S. arm, initially allowing U.S0. citizens to trade 13 cryptocurrency pairs across Bitcoin (BTC), Bitcoin cash (BCH), Binance Coin (BNB), Ether (ETH), Litecoin (LTC), XRP, and the Tether stablecoin (USDT). Since the launch, only one month has passed, but Binance.US has already demonstrated incredible results: its daily trading volume has exceeded $15 million.Besides, the U.S. arm of Binance has increased token listings from 7 to 24 tokens, which means that US citizens now have access to 40 trading pairs. Among the cryptos available are Bitcoin (BTC), BNB, Ethereum (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT), Algorand (ALGO), Basic Attention Token (BAT), Binance USD (BUSD), Cardano (ADA), Chainlink (LINK), Dash (DASH), Dogecoin (DOGE), Ethereum Classic (ETC), IOTA (IOTA), Ravencoin (RVN), Stellar (XLM), Waves (WAVES), Zcash (ZEC), and 0x (ZRX). Recently, Binance.US added support for NEO (NEO) and ATOM (ATOM).$NEO & $ATOM trading are live on up & earn $15— Binance.US (@BinanceAmerica) November 1, 2019Another achievement of Binance.US during the first month of functioning is expanding geographically. Currently, the exchange provides services in 37 states and Puerto Rico. In the nearest future, Binance.US is planning to get licenses to get access to the rest of the United States.Binance.US CEO Catherine Coley stated:“This is just the beginning. We want our marketplace to stand out as an easily accessible, educational platform for anyone looking to participate in this global movement.”“Binance.US is excited to foster these opportunities as a marketplace tailored by and to the needs of U.S. users. Whether you’re converting your first dollar into bitcoin, or running your business through our platform, we’ve standardized globally-validated technology to offer a secure, easy-access marketplace with a wider range of digital assets and personalized customer support to put agency in the hands of the user”, the CEO added.Debit Card Payments on Binance.USStarting today, Binance.US users can use debit cards to purchase cryptos and join existing USD on-ramp and off-ramps, including ACH and bank wire.Until today, Binance.US required zero fees. Now, traders can start using BNB to pay for trading fees and receive a discount on further purchases.Earlier, Binance.US increased its ACH (Automated Clearing House) limits for USD deposits and withdrawals, allowing US users to send up to $5,000 through their initial ACH deposit. After this initial amount is cleared, ACH limits for the depositor will increase to $30,000. USD deposits or USD withdrawals made via ACH are not levied with fees, which makes access to digital assets through USD much easier.As for the further plans of Binance, the exchange is planning to turn a blind eye to China’s new push and open an office in Beijing. It is not clear when the office will be opened, but the Binance top management is working on improving the relationship with Chinese authorities.Binance.US Exceeds $15 Million Daily Trading Volume One Month after Launch

Crypto In, Politics Out: How Jack Dorsey Outplayed Mark Zuckerberg

There is a new exchange on the block, and it has some heavily pro-Bitcoin, anti-political ad supporters behind it. Jack Dorsey has simultaneously banned political ads from Twitter and invested in CoinList Trade. CoinList began life as a token sale platform, helping startups raise capital in compliance with regulations on a trusted platform. Its aim was to “provide… financial services so that token creators can focus on what they do best: building world-changing products.” In the rough seas of regulatory uncertainty, the platform, according to Kadena CEO Will Martino, “made the process of managing the regulatory flow for investors incredibly easy. The team has been great to work with and incredibly responsive.” The platform was instrumental in helping fund a number of inspiring projects. These include Filecoin, Blockstack, Algorand, and Origin. Jack Dorsey Endorses the Road Ahead, Bans Political Ads Now, it is embarking on the next leg of its roadmap: launching a crypto exchange to be named CoinList Trade. And on the eve of his decision to ban political ads on Twitter, Jack Dorsey has made an investment in the company to help it build out the new trading platform.   We’ve made the decision to stop all political advertising on Twitter globally. We believe political message reach should be earned, not bought. Why? A few reasons… — jack (@jack) October 30, 2019   Dorsey’s reasoning for banning political advertising is nuanced and spans a string of tweets. The central message seems to be that earned, and not bought, media is more appropriate in politics. As the founder tweeted: “This isn’t about free expression. This is about paying for reach. And paying to increase the reach of political speech has significant ramifications that today’s democratic infrastructure may not be prepared to handle. It’s worth stepping back in order to address [that].” The changes will take effect on November 22nd. Twitter shares fell around three percent on the news, while Facebook shares rose three percent, with investors anticipating the loss of political ad revenues impacting Twitter’s bottom line, and boosting Facebook’s as the campaign season heats up. But the decision does place a lot of weight on the shoulders of Zuckerberg, who can expect to be asked if Facebook will follow Twitter’s lead. Speaking of Zuckerberg’s Shoulders… Jack Dorsey has thrown Zuckerberg the simultaneous curveball of now being the owner of a soon-to-be-launched crypto exchange. It comes within months of the announcement of Libra, the much-maligned Facebook-backed project to create a global cryptocurrency. Libra has been preemptively banned in Germany and France. It has lost the involvement of major payment processors in Mastercard, Visa, and PayPal, and has had Zuckerberg forced to testify before both the Senate and Congress in the U.S.     Dorsey, meanwhile, has been lauded for his stance on Bitcoin in particular, about which he said in an interview with Quartz, “The fact that it’s meant to be deflationary, meant to incentivize savings instead of spending, I think is a net positive for the world and how we think about consuming.”  Dorsey’s Square Cash has also begun preparing to enable Bitcoin transactions on its payments app, having assembled a team of developers to explore the company’s integration with cryptocurrency. And with his investment in CoinList Trade, Dorsey has now fully declared his hand. CoinList Trade Soon to Begin Operations The enigmatic Silicon Valley veteran told The Wall Street Journal that “Crypto needs a trustworthy platform for launching new projects. CoinList leads the industry in that role, and trading is a logical next step.” San Francisco-based CoinList Trade will initially support trading in the tokens it has helped create, along with Bitcoin, Ether, and USDC. It also plans to offer fiat-crypto on and off-ramps, with USD wallets and crypto trades against the U.S. dollar part of the platform’s planned suite at launch. It currently has a waiting list of around a thousand traders wanting to join the platform and will operate in 38 U.S. states and a number of countries worldwide. Its latest funding round was led by Polychain Capital, with Dorsey and Collaborative Fund joining in. Dorsey has long been an advocate for cryptocurrency as money for the internet and a Bitcoin maximalist, buying $10,000 worth of BTC every week. Now with his toes dipped into a pending exchange and turning his back on political advertising revenue, it’s fair to say Dorsey has managed to out-Zuck his social media rival both when it comes to digital assets and in avoiding the ire of regulators. The post Crypto In, Politics Out: How Jack Dorsey Outplayed Mark Zuckerberg appeared first on Crypto Briefing.

Jack Dorsey Joins Coinlist’s $10 million Raise and Pushes Against Libra

Jack Dorsey, CEO of Twitter and Square Crypto, already has a bit of a history in the cryptocurrency industry. It’s been a few months since he had announced Square Crypto, the Square financial service initiative with a focus on Bitcoin. Dorsey isn’t satisfied with just a single venture into the crypto industry, however. He recently invested in CoinList, a token sales management platform. The Wall Street Journal reported that Dorsey took part in a funding round for the crypto startup. This new funding round roped in $10 million in funds for CoinList. Polychain Capital led the investment round. Besides the Square Crypto Initiative and investing in CoinList, Dovey has allowed Square to incorporate Bitcoin in its Cash app. The new feature to trade in Bitcoin already proved to be a popular one indeed. With the new feature, the Square Crypto initiative managed to hit double-digit growth percentages every quarter of 2018. CoinList: A Token Sale Medium CoinList serves as a convenient platform to make token sales for digital asset companies. As of August 2017, CoinList has conducted over 50 token sales and raising more $500 000 in total funds. They have a large amount of known and lesser-known blockchain platforms that have used CoinList’s infrastructure. The more well-known names of these would be things like Ocean, Algorand, Origin, TrustToken, Props, Dfinity, Filecoin, and Blockstack. On top of serving as a platform to buy tokens, CoinList also gives the proper infrastructure to lend or borrow cryptocurrencies. At the time of writing this article, the interest rates vary from as low as 4% to as high as 15%. The cryptocurrencies capable of borrowing or lending include some of the most well-known as well as lesser-known coins. They also host a selection of stablecoins, including names like USDC, TrueUSD, Paxos Standard, and Gemini Dollar. Interestingly enough, Dorsey told the Journal that he plans on including a cryptocurrency exchange within CoinList. Something to pause about is the fact that CoinList’s possible exchange would put it in direct competition with the Cash app’s Bitcoin trading. Dorsey vs Libra Dorsey is well known for his positive opinions about Bitcoin as well as his hard stance against Facebook’s Libra. Libra has had a tough time under relentless scrutiny that almost broke the upcoming stablecoin before it even launched. The scrutiny and opposition against Libra forced massive payment giants like PayPal, Visa, and Mastercard to back out of the formerly 28 member Libra foundation. When Dovey was approached to partake in the Libra Foundation when the stablecoin had been announced, Dovey gave a rather noteworthy “hell no” against it. Square Crypto To Make Crypto Ecosystem Better Jack Dorsey is someone who isn’t afraid to push away the PR for a bit. In a tweet, Dorsey explained how things like the Cash app and CoinList were intended to garner a profit for the company. However, he describes Square Crypto as a means to give back to the community and further the health of the cryptocurrency ecosystem. Square has taken a lot from the open source community to get us here. We haven’t given enough back. This is a small way to give back, and one that’s aligned with our broader interests: a more accessible global financial system for the internet. — jack (@jack) March 20, 2019 The CEO of Square promised that Square Crypto would remain “open and free.” For once, it seems like someone said that with genuine intent. Whether or not this will continue for more than a year remains to be seen. The post Jack Dorsey Joins Coinlist’s $10 million Raise and Pushes Against Libra appeared first on - Daily Cryptocurrency and FX News.

Jack Dorsey Invests $10M in the Startup ICO Platform CoinList

Coinspeaker Jack Dorsey Invests $10M in the Startup ICO Platform CoinListToken offering platform CoinList raised $10 million with a little help from Twitter and Square CEO Jack Dorsey. CoinList was founded back in 2017 as a spin-off of AngelList, and it acts as an ICO exchange platform that at first received support from investment company Polychain Capital, and upraised more than $9 million in its virgin funding tour. Since then, the company is directing regulatory rules concerning initial coin offerings (ICOs), a popular capital acquisition vehicle for emerging projects.On Wednesday, CoinList announced the closing of their funding round led by Polychain Capital and said that Dorsey and Collaborative Fund had re-joined. The raised assets will be used for the additional growth of CoinList Trade. This is a newly founded exchange platform that also comes along with a crypto wallet.According to the company’s blog post, CoinList Trade cryptocurrency exchange commited itself on providing financial services “so that token creators can focus on what they do best: building world-changing products.”Since then, as per blog, the company has done exactly that. The company writes:“We’ve worked with top projects to power their token sales and helped them drive towards their objectives of creating key pieces of the future of crypto: a decentralized data – Filecoin; a developer-friendly decentralized platform – Blockstack; a stable, fast, and scalable network – Algorand; human-usable products to drive adoption – Origin and many others.”The latest funding round follows a 2018 Series A joined by Polychain Capital and Digital Currency Group and Dorsey’s investment should allegedly be his first in the platform, which some media said were helping companies raising around $800 million in tokens since August 2017.Always very loud Bitcoin advocate, Dorsey earlier this year founded Bitcoin-only developer subsidiary at Square and recently came out as strictly opposed to the Facebook-initiated Libra project, which he called “not consistent” with Twitter’s values.In a statement Dorsey gave to Wall Street Journal, he noted the San Francisco-based firm showed itself as an honest answer for coin launches.He said:“Crypto needs a trustworthy platform for launching new projects. CoinList leads the industry in that role, and trading is a logical next step.”In the blog, the company notes it has helped projects with token sales, but there’s a natural next step.CoinList Trade is, per the blog, a cryptocurrency exchange for the most impactful token projects. Users can sign up for the waiting list while expecting to launch out of the gate with trading available in 38 US states and many international jurisdictions. Also, there will be ACH and wire transfers so users can keep a US dollar-denominated wallet. As per crypto, there will be trading pairs with BTC, ETH, ALGO, USDC, and USD — “with more to come soon.” Also, there will be enabled a full integration with the existing CoinList account of the user.Be it as it may, ICOs are still hardly accomplished since they are constantly under the pressure of the U.S. Securities and Exchange Commission (SEC). Earlier this month, the messaging platform Telegram’s token distribution was stopped because of the SEC’s emergency restraining order over the company’s $1.4 billion offering. The SEC and Telegram are now awaiting the court trial that should happen on February 18–19.Jack Dorsey Invests $10M in the Startup ICO Platform CoinList

USDT ERC-20 Trading Now ‘Dominant Vehicle’ For Tether

Tether has moved almost all of the activity of the USDT stablecoin to the Ethereum network. Analysis shows that most coins were active on Ethereum, with only residual activity on the Bitcoin Omni layer. Retail Traders Adopt New Type of USDT While Tether completed the switch, there were no significant mintings of new coins. Most of the newly minted assets were a technicality, to move new coins to the Ethereum network. Currently, the network carries 2.023 billion coins, with smaller issuances on the TRON, EOS, and Algorand networks. A similar trend is seen in the number of on-chain transactions. USDT as an ERC20 token has become the dominant vehicle for transferring and using tether. — TokenAnalyst (@thetokenanalyst) October 18, 2019 The data matches an earlier discovery that the action of ERC-20 USDT had a greater effect on BTC prices in comparison to Omni-based USDT. This is not unusual, given that the biggest carriers of ERC-20 USDT are exchanges like Binance and OKEx, concentrating high level BTC activity. Currently, the usage of ERC-20 USDT starts to reveal a pattern of retail usage, while in the summer months, mostly large-scale wallets belonging to exchanges handled the tokens. The Tether USD smart contract remains the second most active on the Ethereum blockchain, burning gas for nearly $450,000 per month. Smart Contract Returns as Biggest Gas Burner The Tether smart contract is leading again, after the Fair Win FOMO game stopped, and burns more than 13% of all gas based on the Ethereum network. The level is still reasonable, for now, as the coins are mostly moved between exchanges. In the future, USDT will be dependent on a network that intends to switch its block production to proof-of-stake. Ironically, the crypto market will rely on the stability and activity of the Ethereum network, and the price discovery of BTC will rely on one of the competing networks. The usage of USDT remains high, but the leading coins is losing market share. USDT now takes up around 95% of the market for stablecoins, down from above 99% a few months ago. Competitors like Paxos Standard (PAX) take nearly 2% of the market, while USDC also grows its supply significantly. Alternative stablecoins are still too weak to support the entire crypto market, but are taking some of the market share. The USDC is highly important for the activity on Poloniex. The USDT stablecoin keeps working, for now, despite the open investigation by the New York Attorney General, and a high-profile class-action lawsuit against iFinex as a parent company of Tether, Inc., and Bitfinex. What do you think about Tether’s shift to Ethereum? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @thetokenanalyst The post USDT ERC-20 Trading Now ‘Dominant Vehicle’ For Tether appeared first on

Algo Capital’s Managing Partner speaks out after $2 million USDT hack hits firm

If it is not Bitcoin or Ethereum, making a quick name for itself can be a difficult task in the crypto-industry for any coin. Despite the fact that many crypto-projects launch every day, very few sustain themselves for a commanding period of time in the market. Keeping that in mind, Algorand Foundation’s ALGO token was […] The post Algo Capital’s Managing Partner speaks out after $2 million USDT hack hits firm appeared first on AMBCrypto.

BitGo enters into staking space, offering up to 13% annual returns

Cryptocurrency custodian BitGo has ventured into the staking space, supporting two tokens initially - Dash (DASH) and Algorand (ALGO). The new service means BitGo’s clients can now stake the two tokens and earn passive income in the range of 7-13% p.a., according to a press release shared with The Block on Thursday. “Staking provides our clients with returns on their investments without ever moving their assets out of custody,” said Ben Chan, chief technology officer of BitGo. The firm has also acquired staking infrastructure startup Hedge. BitGo said it has integrated Hedge’s automated secure deployments, hardware security modules (HSMs) and secure cryptographic enclaves, to its staking platform. The acquisition will help BitGo deliver “an automated, end-to-end” staking service, said Chan. Last month, cryptocurrency exchange Binance also launched its staking platform with the support of eight coins, including ALGO.  It recently added support for TRON token as well for the platform. 
The Block Crypto

Market Commentary: Coinbase Launches Security Ratings, Binance Passes Sentence

This weekend has been more tumultuous than usual. Bitcoin briefly crashed back below $8000, touching a low of $7700 before recovering back today. The other coins find themselves following Bitcoin through varying degrees of correlation, with the notable exceptions of XRP and Algorand.   Cryptocurrency market dynamics since September 27. Source: Coin360 U.S. Exchanges Anticipate The SEC A new consortium of U.S.-based exchanges and companies was announced today. The Crypto Rating Council, led by Coinbase, Kraken and Bittrex, was formed to develop a functional rating system to determine if any given token is a security. The idea originates from Coinbase, as reported in its announcement, and serves to provide a factual and straightforward classification algorithm for any cryptocurrency. Despite the release of SEC guidance, classifying tokens still requires a “fact-intensive analysis by knowledgeable technical and securities law experts.” Coinbase elaborated further on the problems deriving from the general lack of clarity and standardized tests. “This analysis is difficult and expensive to operationalize consistently, may involve judgment calls, and can lead to disagreement among legal experts (and even government officials).” CRC’s rating system is designed around a set of several dozen, precise yes/no questions. Each answer then contributes to a final score ranging from 1 to 5, which is expected to be standard despite the many kinds of variation in token economics and other parameters. The primary users of this system will be its creators, as it will primarily guide the decision-making process of those who are affected by securities laws – the exchanges themselves. Some of the ratings can already be consulted on Among the top-coins surveyed, XRP, Polymath and Maker scored the highest with 4, 4.5 and 4.5 respectively. Reasons for such high scores include “Marketing of the token suggesting an opportunity to make profits” and “Usage of securities-like language.” Traditional PoW coins such as Bitcoin, Litecoin and Monero have all scored 1. Binance’s love-hate relationship with TRON Justin Sun and his projects are back in the spotlight today, and it’s all thanks to Binance. While the exchange announced support for staking late last week, not all coins were included. An announcement today specifically added TRX to the set of projects which will begin staking tomorrow, and the token’s price bumped almost +8%. In order to do this, Binance had to stake more than 12 billion TRX of user deposits,  making it the leading Super Representative on the network. While some are seeing the positive aspect freezing over 1/6 of the TRX supply, others are raising doubts on the governance aspect of this decision. In TRON and many other staking projects, tokens give voting rights for network decisions, meaning that Binance will be able to vote on behalf of its users. But what Binance giveth, it also taketh away. The BitTorrent project was hit hard today due to a mass delisting of 30 pairs, removing BTT / BTC in addition to pairings for several Binance Launchpad projects.   BitTorrent Token Price by TradingView BTT immediately crashed more than 10%, though two pairs still remain for trading on the platform. Holders of the token can still trade it for BNB and USDT. Bitcoin Commentary By Nathan Batchelor Bitcoin appears vulnerable to more downside losses below the $8,000 level as we head into the U.S trading session, after bulls failed to rally the cryptocurrency above its 200-day moving average over the weekend. At current trading levels Bitcoin is on course to suffer its worst monthly decline of 2019 and its third consecutive month of losses. Bitcoin’s overall market dominance is also poised to decline on a monthly basis for the first-time since April this year. With Bitcoin bulls failing to materialize from the $8,000 level, it certainly appears that buyers are looking at lower levels before entering into the BTC / USD for the long-term. The weekly time frame chart best highlights the key support areas at which longer-term Bitcoin buyers may attempt to enter into the market if the cryptocurrency extends its losses below the $7,730 level.   Via TradingView   The $7,500 level is the first key area to watch, as it represents the June 4th swing-low, which was the final technical pullback before the BTC / USD pair’s rally towards the $14,000 level. The $7,500 level is also the bearish target of an invalidated inverted head and shoulders pattern on the four-hour time frame, and a potential area where traders could book profits. Bitcoin’s 52-week moving average is the next key technical area where buyers may be looking to initiate BTC / USD long positions. The 52-week moving average is currently found at the $6,670 level. Should we see the 52-week moving average broken, then the BTC / USD pair’s 200-week moving average is the strongest form of technical support below. This key technical area managed to cap the decline towards the end of 2018 and is probably the strongest form of technical support on the weekly chart. Bitcoin’s 200-week moving average is currently located at the $4,700 level. * Continued weakness below the $8,300 level is likely to put the $7,500 support level into focus. * SENTIMENT Intraday bullish sentiment for Bitcoin is still bearish, at 39.00%, according to the latest data from Long-term sentiment for the cryptocurrency remains largely unchanged, at 63.40%, but still remains positive. UPSIDE POTENTIAL Any short-term bullish patterns have largely been eroded, making it difficult to project the near-term upside in the BTC / USD pair if a recovery does occur. The lower time frames still suggest the $8,600 and $9,000 levels could be achieved if the $8,300 level is broken. The four-hour time frame shows that the BTC / USD pair will need to move above the $9,700 resistance level to reclaim its short-term bullish status. DOWNSIDE POTENTIAL Sellers failed to break below the $7,730 support level earlier today, further encouraging the BTC / USD pair to test back towards the $8,000 level. Key technical support below the $7,730 is located at the $7,500 and $7,000 levels, while the $6,600 level is the strongest form of weekly support below the $7,000 level. A full version of Nathan Batchelor’s Daily Bitcoin Commentary, together with his calls, is available to SIMETRI Research subscribers earlier in the day. The post Market Commentary: Coinbase Launches Security Ratings, Binance Passes Sentence appeared first on Crypto Briefing.

Santander, Mitsubishi, Nomura invest $14M in security token platform Securitize

Security-token management platform Securitize today announced a $14 million strategic round raised from investors including Banco Santander, Mitsubishi UFJ Financial Group, and, Nomura Holdings, signaling banks’ heightened interest in the cryptocurrency and digital securities markets.  The San Francisco-based firm provides a compliance platform that helps blockchain companies issue and manage security tokens. Last month, the firm announced that it had become a registered transfer agent with the U.S. Securities and Exchange Commission (SEC). This registration allows Securitize to book-keep cap table records and facilitate corporate actions such paying dividends and conducting shareholder votes.  Bringing on key strategic investors like Santander InnoVentures, MUFG, and Nomura, as well as leading blockchain investors, validates how transformative digital securities are for traditional financial markets,” Securitize CEO and cofounder Carlos Domingo said in a company statement.  Indeed, banks like the Spain-headquartered Santander and Japan-based Nomura are showing increasing interest in the cryptocurrency market. Santander recently used ethereum-based tokens to issue and settle a $20 million bond. The bank tokenized both the bond and cash in this trade. Nomura, on the other hand, has partnered with cryptocurrency custodian Ledger in preparation to launch its institution-grade custody solution.  The Tezos Foundation and Algo VC also participated in this round, in anticipation of digitalizing securities on the Tezos and Algorand blockchains. Last year, Securitize raised a $12.75 million Series A from Coinbase Ventures, Blockchain Capital, and Ripple Ventures. The firm has also formed a partnership with the Japan Security Token Association to educate Japanese investors and advocate for digital tokens. 
The Block Crypto

StormX was the company extorted by Alchemist CEO Steven Nerayoff

Alchemist CEO Steven Nerayoff extorted an anonymous Seattle company for over $10 million in Ethereum. Only one company fits the bill—StormX. Old-fashioned extortion Steven Nerayoff, CEO of Alchemist, LLC blockchain consultancy, was charged with extortion. Nerayoff was a technology entrepreneur with an impressive track record. His consultancy advertises that they have invested or advised projects including Ethereum, Zcash, Algorand, Lisk, Bancor, and others. Nerayoff entered into an agreement with a Seattle-based company to help support their initial coin offering. For revising the company’s whitepaper, facilitating strategic partnerships, curating pre-seed funding partners, and other services, the agreement would entitle Nerayoff to 22.5 percent of all funds raised and 22.5 of all cryptocurrency tokens issued through the ICO. Then, Nerayoff undertook various threats to extract additional compensation from the company while providing no additional services, going as far as to hire a hitman, Michael Hlady, with an imposing background in national intelligence that included “taking down a head of state.” The company raised a total of 75,700 ETH during the pre-sale and crowdsale periods. Under the original agreement, Nerayoff would have been entitled to 17,000 ETH as payment. However, he threatened to sabotage the crowdsale, generate negative press for the company, and contact influential people to “destroy” the company if he was not paid an additional 13,000 ETH, worth approximately $3.8 million at the time. Hlady, on behalf of Nerayoff, then physically intimidated executives from the company for an additional ‘loan’ of 10,000 Ether, according to the documents. The company paid the 10,000 loan to Nerayoff’s company and was never repaid. Both men were arrested yesterday for the extortion charges. The two men face up to 20 years in prison if convicted. One company fits the bill Of the companies in Seattle’s relatively small blockchain ecosystem, only one company fits the description made in the legal complaint—StormX. The Department of Justice described the firm as “a startup mobile-based business that specializes in generating user traffic to clients’ products by issuing its own cryptocurrency tokens as loyalty rewards.” With less than 15 notable blockchain companies in Seattle this already narrows down the list. StormX is a gamified microtask platform which “creates oppotunities for people around the world to earn cryptocurrency rewards.” Its main product is the mobile Storm Play app, where users can, for example, complete tasks in games or complete surveys for native STORM tokens. In line with the court complaint, Storm’s crowdsale began Nov. 7, 2017. The amounts described in the complaint are also in line with public figures from Storm’s crowdsale. “John Doe” and “Jane Doe,” as described in the court documents, are likely the current CEO of StormX Simon Yu and former COO Arry Yu (no familial relation). Arry Yu left Storm in September 2018 because of “disagreements” with the CEO, she said in earlier comments to CryptoSlate. It’s unknown whether the extortion charges are related to her departure from the startup. Neither Simon Yu or Arry Yu have responded to CryptoSlate’s requests for comment. This story is developing and will be updated with more information within the hour. The post StormX was the company extorted by Alchemist CEO Steven Nerayoff appeared first on CryptoSlate.

Securitize adds support for security token issuance on Algorand blockchain

Securitize adds support for security token issuance on Algorand blockchain - CryptoNinjas Securitize, a platform delivering global solutions for compliant digital securities, announced it has partnered with Algorand to support Securitize’s DS Protocol on the recently launched Algorand blockchain. The platform-agnostic DS Protocol will now support Algorand, giving issuers using Securitize an additional high-performance platform option for issuing, trading, and performing corporate actions using digital securities. Algorand […] Securitize adds support for security token issuance on Algorand blockchain - CryptoNinjas
More news sources


Hot world news

Brave Browser (BAT) Now Has over 10 Million Monthly Active Users

Brave Browser (BAT), a privacy-protecting internet browser that’s focused on giving the masses absolute control over online activities, while also rewarding them with Basic Attention Token (BAT), has announced that the browser has seen more than 10 million monthly active users (MAU) since launching Brave 1.0 in November 2019, according to a blog post onRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

Deutsche Bank Says Crypto Could Usurp Fiat Money And ‘Soar’ By 2030

With each passing day, there is a little increase in cryptocurrency adoption with more people being informed and special efforts dedicated to education. If a recent Deutsche Bank report is to be believed, the next decade beginning from next year will most likely record significant leaps and bounds as far as the cryptocurrency sector is concerned, ending with fiat currency being regulated. According to the “Imagine 2030” publication from the German multinational financial services giant, fiat money is slowly getting closer to the brink of complete instability because all of the factors that have been holding it in place have created an imbalance which is already beginning to tell on the system. In the section of the report dubbed “The end of fiat money?” written by Jim Reid, the analyst suggests that the 2020s will be significant because there will be an increased need for fiat alternatives. “The forces that have held the current fiat system together now look fragile and they could unravel in the 2020s. If so, that will start to lead to a backlash against fiat money and demand for alternative currencies, such as gold or crypto could soar.” As unlikely as the end of fiat might seem, Reid argues that back in the 1970s, money was always backed by commodities such as gold or silver. One of the most noteworthy things that happened to fiat after its dependence on such commodities was that inflation sometimes increased “dramatically.” Reid also argues that a major flaw with fiat currency is that it’s usually a little too tempting to produce money willy-nilly when there is nothing backing it. This is something Reid suggests that alternative currencies will solve because no one can wake up and decide to just create Bitcoin and other digital currencies, out of the blue. While it might be a little too bullish to expect that fiat will completely fall, it surely is interesting to think about all of the weaknesses fiat has and how alternative offerings like cryptocurrency, could easily step in and save the day. The post Deutsche Bank Says Crypto Could Usurp Fiat Money And ‘Soar’ By 2030 appeared first on ZyCrypto.

Coinbase’s Visa debit card adds support for DAI stablecoin

Cryptocurrency exchange Coinbase’s Visa debit card offering has added support for ethereum-based DAI stablecoin. Announcing the news Friday, Coinbase Card said DAI is the first stablecoin added to its offering. The debit card, launched this April, allows customers in the UK and EU to spend their cryptocurrencies directly from their Coinbase accounts. Just last month, Coinbase Card added support for four crypto assets - Brave browser’s basic attention token (BAT), Augur (REP), Stellar (XLM) and 0x (ZRX). It also supports bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC). JD Millwood, head of marketing at Coinbase UK, recently said that the debit card offering “has helped tens of thousands of users spend their crypto as easily as the money in their bank accounts. With Christmas approaching, the demand for Coinbase Card will be will higher than ever.” Last month, Coinbase Card also expanded its reach to ten new countries in Europe, bringing the total to 29. The newly supported countries are Bulgaria, Croatia, Denmark, Hungary, Iceland, Liechtenstein, Norway, Poland, Romania, and Sweden.
The Block Crypto
By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.