Telegram CEO Pavel Durov gave a deposition regarding the company’s alleged violation of United States securities law by conducting $1.7 billion Gram token sale in 2018. In line with a relevant court order, the deposition was held on Jan. 7 and Jan. 8 before a court reporter designated by the court reporting service engaged by plaintiff represented by the United States Securities and Exchange Commission (SEC). SEC uses the 18-hour deposition to continue grill Telegram on how it spent $1.7 billion According to the official transcript document, the deposition was…
Month: January 2020
Three Days of Hearings Before India’s Supreme Court on Crypto Ban
The Supreme Court of India has wrapped up the first three days in a hearing on a landmark case brought against the country’s central bank against its ban on banks’ dealings with cryptocurrency-related businesses. From Jan. 14 through 16, proceedings were focused on arguments presented by Ashim Sood, the legal counsel for the the Internet & Mobile Association of India (IAMAI). IAMAI is a not-for-profit industry body whose mandate is to appeal to governments on behalf of internet industry consumers, shareholders and investors. Members include Yahoo! India, Apple, eBay, Unocoin…
SEC’s CryptoMom Wants US to Learn From Chinese Digital Innovation
The United States could learn from China’s innovations in digital currency, says Securities and Exchange commissioner Hester Peirce. Fielding questions via webcam at this week’s Crypto Finance Conference in Switzerland, the public sector leader known as CryptoMom, called for the U.S. to: “Learn from what other countries are doing and take the best of what they’re doing and reject the worst of what they’re doing.” China outpacing U.S. on digital currency Last fall, Mark Zuckerberg’s congressional testimony on Facebook’s Libra leaned heavily on the idea of U.S. innovation falling behind.…
SEC’s CryptoMom Wants US to Learn From Chinese Digital Innovation
The United States could learn from China’s innovations in digital currency, says Securities and Exchange commissioner Hester Peirce. Fielding questions via webcam at this week’s Crypto Finance Conference in Switzerland, the public sector leader known as CryptoMom, called for the U.S. to: “Learn from what other countries are doing and take the best of what they’re doing and reject the worst of what they’re doing.” China outpacing U.S. on digital currency Last fall, Mark Zuckerberg’s congressional testimony on Facebook’s Libra leaned heavily on the idea of U.S. innovation falling behind.…
Davos Needs to Wake Up to the Ills of Centralization
This is part of a series of op-eds previewing the World Economic Forum in Davos, Switzerland. CoinDesk will be on the ground in Davos from Jan. 20–24 chronicling all things crypto at the annual gathering of the world’s economic and political elite. Follow along by subscribing to our pop-up newsletter, CoinDesk Confidential: Davos. Michael J. Casey is the chief content officer of CoinDesk. The opinions here are his own. As the world’s most influential and self-entitled gather in Davos, Switzerland, for next week’s World Economic Forum, a predictable set of problems are on…
Price Analysis Jan 17: BTC, ETH, XRP, BCH, BSV, LTC, EOS, BNB, ETC, TRX
Most major cryptocurrencies have resumed their up move, which shows that the rally can extend for a few more days. The total crypto market capitalization has risen from about $190.5 billion at the start of the year to over $243 billion. That is a rise of about 27.55% within 17 days. This shows that the bulls are back in action. Another interesting thing to note is that the rally is led by altcoins, which are outperforming Bitcoin (BTC) by a huge margin. This shows that the current rally is more…
Crypto News Roundup for Jan. 17, 2020
More ways to listen or subscribe: Whether you’re a first-time listener or you’ve heard every episode, we’d like to know what you think about the show. What do you like? What don’t you like? What do you think we’ve totally missed but should be talking about every day or at least every week? Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency…
US SEC Charges Convict and Associates for $30M Fraudulent ICO
The United States Securities and Exchange Commision has charged a group of criminals, who raised over $30 million through a fraudulent initial coin offering (ICO). Per a Jan. 12 press release, the SEC charged convicted Boaz Manor, his business associate, and two companies, CG Blockchain Inc. and BCT Inc. SEZC, with violating the antifraud and securities registration provisions of the federal securities laws. Manor is a dual citizen of Canada and Israel. The entities allegedly raised more than $30 million in a fraudulent ICO, conducted with the objective to launch…
SEC: Cash-Strapped Telegram Launched 2018 Token Sale to Pay for Servers
Telegram launched a 2018 token sale because it was “short on cash” to pay for servers, the U.S. Securities and Exchange Commission (SEC) said. The claim, made in the regulator’s latest document dump in its ongoing securities case against Telegram, shows for the first time the core of the SEC’s argument: that the token sale was merely a substitute for equity financing. At the time of the sale, Telegram framed it as financing for a next-generation blockchain that would be faster and more versatile than its predecessors. The documents released…
Block.One Will Not Launch Its Social Network on EOS
In June when Block.one, the company behind the largest initial coin offering (ICO) in history, announced its Facebook-challenging social network, Voice, it promised the blockchain would run on the EOS mainnet. Plans have changed. Voice is meant to be a new kind of social network, one with crypto built in and one that defeats bots by verifying the identity of every single account. The company went silent about Voice for months after the summer announcement but then, in December, it revealed a launch date for Voice of Feb. 14. With…