Crypto ‘Dutch Auctions’ Show Promise After $1.76M Offering Sells Out

On March 24, United States-based blockchain company Solana successfully sold all of its tokens via a “Launch Auction” hosted by crypto fundraising firm CoinList. Solana raised $1.76 million from 445 bids placed from 91 different companies. 8 million SOL tokens were distributed at $0.22 each. 1,416 prospective investors had registered to participate. CoinList’s Launch Auction token issuance model comprises a “Dutch auction” — where the bidding for a token begins at an initial price ceiling which is dropped by a fixed amount periodically.  Investors bid for the number of tokens…

AR Crypto Game Makes an Impact on Social Distancing

The coronavirus pandemic is causing the worst global economic recession among all business sectors since 1929. Advertising and marketing budgets alone could see a $3 billion loss in 2020. Both traditional brands and crypto companies are replacing their high profile ads with low budget posts in an effort to combat the rising pandemic. Crypto industry is taking on the social responsibility Triffic, a free augmented reality game which rewards players with cryptocurrency, is doing their part to promote social distancing among their user base. On March 26, the startup announced…

Fake Ledger Chrome Extensions Continue to Steal Crypto From Victims

Fake Google Chrome extensions for crypto hardware wallet manufacturer and custody provider, Ledger, continue to claim victims. On March 28, a post was published to Reddit by a user seeking to warn others that they had just lost 14,908 Ripple (XRP) (roughly $2,577) to a fake Ledger Wallet extension on the Google Chrome store.  According to the poster, ‘leannekera’, the lost funds comprised a nest egg that she and her husband had been growing since 2017. The wallet that her XRP was sent to quickly forwarded her funds to a…

Global Crypto Community Comes Out in Full Force Against Coronavirus

With cases of the deadly coronavirus still popping up at an unprecedented rate around the world, many prominent members of the blockchain and crypto industries have heeded the global cry for help and have swiftly engaged in meaningful action — be it in terms of direct research-related participation, or through the donation of funds or resource materials, such as masks, sanitization equipment, etc.  For example, as early as January, premier cryptocurrency exchange Binance had already donated $1.4 million worth of medical supplies to Chinese authorities in a massive effort to…

Overview of Software Wallets, the Easy Way to Store Crypto

Similar to a bank account for fiat currency, a crypto wallet is a personal interface for a cryptocurrency network that provides reliable storage and enables transactions. Whether a cryptocurrency is securely stored or not, much depends on the wallet, which is only as secure as its private keys. Wallets are generally either hot or cold. The funds in a hot wallet can be spent at any time, online. A cold wallet functions in contrast: not intended for regular cryptocurrency transactions, but funds can be received at any time. Wallets can…

Do Video Games Subconsciously Teach Users Crypto Economics?

The underlying premise of many video games might actually give people a core understanding of economics, especially in the crypto space. “As a kid, I played a lot of RuneScape,” crypto YouTuber and programmer Ivan on Tech said in a March 28 video. RuneScape is a medieval era fantasy game in which players interact with other live players, completing journeys, buying, selling, and trading various tools and materials, as well as battling. “A part of RuneScape is that it has its own economy,” Ivan said. “There’s actually a lot of…

Malta Denies Two Crypto Exchanges Have License to Operate

The Malta Financial Services Authority, or MFSA, has issued an alert on March 25 about two crypto exchanges that do not have licenses to operate, nor are they regulated in the country. COINMALEX and Crypto Foxtrades are the exchanges that the country’s financial watchdog alluded to in the statement, as both companies claimed on their websites that they had the necessary regulations and licenses to operate. Crypto Foxtrades claimed that they had the “Category 3 Investment Services” provider from the Maltese authorities to operate. The MFSA clarified the following about…

Venezuela’s Struggling Internet Could Make Crypto Trading Tough

The global coronavirus lockdown has put a strain on Venezuela’s internet, which could logically make crypto participation difficult. As much of the world hunkers down in quarantine, people logically turn to internet-based services for work, as well as a way to pass the time. This mass movement has put significant stress on available data usage capacities in Venezuela, Movistar told Bloomberg for its March 27 article.  A daughter company of Telefonica SA, Movistar is the nation’s main telecom provider.   Global precautions cause global strain In an effort to prevent the…

Why Crypto Traders and Miners Might Head to Portugal

Existing outside of the realm of traditional finance and with no central point of authority, digital assets have posed several challenges to governments worldwide. Many nations have struggled with how to define and regulate cryptocurrencies, and there is no uniformity because each country has developed its own unique approach. Data and transparency seem to be some of the best tools on the road to regulatory certainty and institutional demand. While some countries like the United States and the United Kingdom are taking advantage of this to build a better tax…

Tether Becomes Second Crypto to Launch on Blockchain Futures Platform

As the volume of Bitcoin (BTC) derivatives trading continues to rise, the cryptocurrency industry keeps tapping more crypto markets, like stablecoin Tether (USDT), for futures trading. KuMEX, a derivatives arm of IDG-backed crypto exchange, KuCoin, is planning to roll out USDT-margined Bitcoin perpetual contracts on March 30, 2020, the firm officially announced on March 27. KuMEX currently supports only Bitcoin and USDT While the new type of futures contract will be launched next week, KuMEX users are already able to deposit USDT via the web or public API starting from…