Vitalik Buterin, Joseph Lubin Each Donate 1,000 Ether to Moloch DAO

Ethereum founders Joseph Lubin and Vitalik Buterin and their respective organizations ConsenSys and the Ethereum Foundation are each donating 1,000 ether (ETH) to the Moloch decentralized autonomous organization (DAO). This donation brings the organization’s total funds up to $1 million,  a Cointelegraph correspondent learned at the Ethereal Summit on May 10. The stated objective of Moloch DAO, created by Ameen Soleimani — the CEO of the Ethereum-based adult token platform Spankchain — aims to crowdsource funding for shared, open-source Ethereum infrastructure. Moloch DAO states: “Our objective is to accelerate the…

Bitcoin Just a Shady ‘Ponzi Scheme,’ Rants Goldbug Peter Schiff

By CCN: Market contrarian and popular gold bug Peter Schiff has once again come out with guns blazing against bitcoin and cryptocurrency. Peter Schiff: ‘Ponzi Scheme’ Bitcoin Is ‘Fool’s Gold’ with ‘No Value’ In an interview with Max Keiser of the Keiser Report, Schiff – the CEO of Euro Pacific Capital – ranted that bitcoin “pretend[s]” to be gold but is just “fool’s gold.” “I don’t think bitcoin has anything in common with gold. I mean it tries to pretend to be gold, but I think it’s fool’s gold.” The…

Amazing! Bitcoin Is 2019’s Top-Performing Asset Outpacing Stocks & Oil

By CCN: In December 2018, the mainstream media proclaimed the death of bitcoin (BTC/USD) for the millionth time. At that point, the first cryptocurrency dropped by as much as 84% from the all-time high of around $20,000 as the price plunged below mining costs. The bearish sentiment was so strong that almost no one dared to long the digital asset. Those who did, however, have been handsomely rewarded because bitcoin is 2019’s best-performing asset globally. Bitcoin Outperforms Other Assets by a Huge Margin It may come as a shock to…

Op Ed: Understanding the Latest FinCEN Guidance for Cryptocurrencies

On May 9, 2019, the Financial Crimes Enforcement Network (FinCEN), issued new “interpretive guidance” about how its regulations apply to businesses that conduct money transmissions in virtual currencies. In summary, a money services business (MSB) needs to register with FinCEN, (which is free and done through Form 107); get an AML compliance policy that specifies what KYC information will be collected (and aims to catch and prevent money laundering and terrorism); designate a compliance officer to monitor transactions and file suspicious activity reports for activity that looks suspicious and file…

Facebook Coin | Catalyst for Crypto Growth, Says Spencer Bogart

With the introduction of the Facebook Coin, the cryptocurrency world is facing a revolution. Spencer Bogart of Blockchain Capital, in an interview with Bloomberg, shed some light on the media giant’s venture into the cryptocurrency ecosystem. The Trickle-Down Effect of Facebook Coin In the interview, Bogart stated that there are several catalysts on the horizon in the cryptocurrency market despite the speculated “bottom” being reached. One good catalyst will be the anticipated Facebook Coin that will change dynamics in the cryptocurrency industry. The Facebook Coin project will be an incredible project…

Key Bitcoin Metric Barrels to Highest Level Since December 2017

By CCN: As the bitcoin price bounded to a new 2019 high on Friday, a key market metric quietly surged to its highest level since December 2017 when the bitcoin price peaked at an all-time high just under $20,000. Bitcoin Market Share Explodes to 17-Month High That metric, “Bitcoin Dominance,” measures what percentage of the overall cryptocurrency market cap belongs to bitcoin. According to CoinMarketCap, Bitcoin Dominance jumped to 58.4% on Friday as the flagship cryptocurrency smashed through resistance to set a new six-month high at $6,425 on Bitstamp. Bitcoin Dominance surged to its…

QuadrigaCX Has $21 Million in Assets and Owes $160 Million: EY Report

QuadrigaCX, the Canadian crypto exchange that collapsed after the death of its CEO and founder late last year, has just $21 million in assets, but owes creditors $160 million, its court-appointed monitor and trustee said. The latest report by Ernst and Young (EY), which is dated May 1 but appears to have been published in the last few days, outlines three legal entities affiliated with the exchange – Quadriga Fintech Solutions Corp., Whiteside Capital Corporation and 0984750 B.C. Ltd., each of which is presented as its own bankrupt firm. As a…

The SEC Has a New Exchange Traded Fund Application to Review

The U.S. Securities and Exchange Commission (SEC) has posted a new proposal from Crescent Crypto Index Services, a subsidiary of Crescent Asset Management, for the launch of a crypto-backed exchange-traded fund (ETF). According to the application, the company, which is based in New Jersey, will be looking to monitor the performance of a portfolio of ether (ETH) and bitcoin (BTC). The fund has been named the “USCF Crescent Crypto Index Fund” with “XBET” being its proposed ticker. It will also be sponsored by United States Commodity Funds LLC, a commodity…