Jack Dorsey Backs $10 Million Round for Token Offering Platform CoinList

Token offering platform CoinList has raised $10 million with backing from Twitter and Square CEO Jack Dorsey. CoinList announced Wednesday the closing of a funding round led by Polychain Capital and joined by Dorsey and Collaborative Fund. The capital will go towards the further development of CoinList Trade, a new exchange platform, along with a crypto wallet, according to the Wall Street Journal and a company Medium post. The latest funding round follows a 2018 Series A joined by Polychain Capital and Digital Currency Group, among others. Dorsey’s investment is reportedly…

tZERO, Tezos Foundation to Tokenize £500 Million in UK Real Estate

Overstock’s security token platform tZERO and the Tezos Foundation have partnered on a project that will tokenize £500 million ($643 million) in planned real estate development. Announced Wednesday, the blockchain startups will tokenize portions of properties financed by U.K.-based Alliance Investments, which will then be opened up to investors. Rani Zahr, CIO of Alliance Investments, said in a statement: “Raising funds through an STO is more efficient, cost-effective, autonomous and democratic than traditional financing. We believe that we are at the forefront of a technological change that can disrupt the…

Leaked Transcript Details Power Struggle Inside Bitcoin Mining Giant Bitmain

The Takeaway: A partial transcript of an internal meeting at Bitmain on Tuesday details a long-running power struggle that led to the sudden ousting of co-founder Micree Zhan. The conflict between Zhan and fellow co-founder Jihan Wu came to a head in December 2018 as the company pursued a round of layoffs. In Tuesday’s emergency meeting called by Wu, he admitted the company has had a subpar 2019, exacerbating tensions among top executives. The abrupt dismissal of Zhan comes just one week after Bitmain filed for another IPO attempt in…

CoinGecko Now Tracks Data From 20-Plus Crypto Derivatives Markets

Cryptocurrency data aggregator CoinGecko has added a new service tracking the growing number of crypto derivatives products. The firm’s derivatives tracker currently lists some 100 products such as perpetual swaps and futures from over 20 derivatives exchanges, the firm said in a press release, and covers data points such as price, interest, basis, funding rates, expiry dates and trading volume. Listed derivatives can also be viewed in three separate ways, including by isolating products from specific exchanges. CoinGecko CEO TM Lee said the firm anticipates adding more metrics in the future,…

Pay Your Friends to Protect Your Keys: One Startup’s New Take on Crypto Custody

If you’re worried about losing your private keys, try tapping your friends as a recovery network, one startup says. Vault12, backed by Winklevoss Capital, True Ventures, Naval Ravikant and Data Collective, went live on Wednesday, offering a new passkey system for crypto-holders to secure their digital assets. The app uses a cryptographic technique called Shamir’s Secret Sharing, developed by legendary Israeli cryptographer Adi Shamir. Customers select a group of individuals, referred to as “guardians,” who each possess parts of users’ seed phrases (the multi-word passwords crypto wallets require for asset…

Russian Aluminum Plant Pivots to Bitcoin Mining Following US Sanctions

A Russian aluminum plant is pivoting to bitcoin mining after U.S. sanctions forced the plant to shut down in 2018. Russian aluminum giant Rusal is leasing its Nadvoitsy Aluminum Plant, located in the northwest region of Karelia, to a crypto startup called the Russian Mining Corporation (RMC), according to Russian news site RBC. The U.S. Office of Foreign Assets Control (OFAC) hit Rusal with sanctions in April 2018. At the time, the U.S. Treasury Department dubbed Rusal majority shareowner Oleg Deripaska a “Designated Russian Oligarch,” thereby sanctioning the firm. RMC is…

As Bitcoin Price Drops To $9K, Here Are the Targets Traders Are Watching

Bitcoin price continues to fall after a massive surge late last week sent the price of the first-ever crypto asset skyrocketing, blasting through resistance and revisiting five-digit prices briefly before it began to cool off. Now, Bitcoin is flirting with a drop below $9,000, but thus far $9,000 has provided strong support. Here are the price levels crypto traders are watching in case Bitcoin falls below $9,000 or if it bounces from current prices. Bitcoin Price Finds Support at $9,000 After Rejection Above $10,000 Bitcoin price is currently trading in…

China Unironically Bans Blockchain Slurs as Crypto Launch Looms

Authoritarian China has unironically banned criticism of blockchain technology. The move comes after President Xi Jinping publicly called for more blockchain research. The crypto industry remains divided about China’s sudden pivot. In one of the biggest U-turns in crypto history, China professed its love for blockchain. Now, the nation is going as far as to penalize anyone who dares oppose it. Chinese President  Xi Jinping recently rocked the crypto industry with a speech exalting blockchain, praising the economic benefits and efficiencies available through the technology. The bitcoin price soared in…

Johannesburg Authorities Refuse to Pay Hackers’ Bitcoin Ransom

Authorities in Johannesburg are holding firm in their refusal to pay a ransom of 4 Bitcoin to hackers who targeted municipal systems last week. In a statement posted to its official Twitter handle on Oct. 28, the Johannesburg city council confirmed the attack had affected services that included billing, property valuation and land information systems, as well as its eHealth and Libraries services.  The breach, which occurred on Oct. 24, was accompanied by a ransom demand of 4 Bitcoin (BTC) — worth close to $37,000 to press time — payable…

Peter Schiff Blames ‘Whales’ After Bitcoin Gains 30% Against Gold

HODLer of a bygone era, Peter Schiff has argued that retail investors are getting squeezed by whales’ tactics on the cryptocurrency markets. In a tweet posted on Oct. 29, Schiff — a diehard gold proponent — said: “Bitcoin hodlers won’t sell as they believe they’ll get rich when #Bitcoin moons. Bitcoin whales get rich by selling now to realize their paper gains before a market crash wipes them out. The whales must make sure the hodlers don’t lose faith and cash out so that they can cash in!” Gold recent tumble…