Police Arrest Founder of Blockchain Startup That Raised Over $80M

Dutch police have arrested the founder of blockchain game development startup Komodore64 that allegedly raised 78 million euros ($86 million) from investors, business-focused news outlet Sprout reported on Nov.  Komodore64 — which launched in June with the objective to create a game platform where transactions are tracked on blockchain — appeared to be a fraudulent scheme that deceived both investors and its own employees. The project and its native crypto coin K64, which have reportedly secured roughly $86 million in investments, have declared bankruptcy. Involvement of a “well-known investment company”…

Alibaba Offers Bitcoin Rewards Through Lolli Shopping App for ‘Singles Day’

Lolli, an affiliate retail startup that gives online shoppers bitcoin instead of regular cash-back perks, just announced its first Asian partnership with Chinese e-commerce giant Alibaba. Lolli’s in-browser app allows users to shop through merchants’ websites as they normally would, but earn small bitcoin rewards delivered to the in-browser wallet. CoinDesk reached out to Alibaba for comment and will update the article if we hear back. This announcement comes on Singles Day, the Nov. 11 Chinese shopping holiday comparable to the U.S.’s Black Friday. Alibaba Group’s online Singles Day sales…

BnkToTheFuture CEO: 50 Percent of Funding Will Be Through Security Tokens in 2020

Online investment platform BnkToTheFuture will expand its security token offering (STOs) business to the U.S with an investment in a Securities and Exchange Commission-licensed broker dealer. Announced in a Nov. 7 statement to investors, BnkToTheFuture acquired an undisclosed stake in BMI Capital International’s holding company, which enables the lending platform to offer STOs to the U.S. market. In an email to CoinDesk, BnkToTheFuture CEO Simon Dixon said: “We forecast by 2020 up to 50 percent will opt for an innovative security token that improves the potential for returns for investors…

Alibaba Partners with Lolli to Allow US Shoppers Earn ‘Free Bitcoin’

Chinese e-commerce giant Alibaba has partnered with Bitcoin (BTC) rewards shopping app Lolli, enabling its shoppers to earn 5% back in Bitcoin. Alibaba customers can now get Satoshis (sats), the smallest unit of Bitcoin currency, worth 0.00000001 BTC, when shopping “thousands of items online,” Lolli says. World’s biggest retailer and biggest one-day shopping event The partnership was announced on Singles Day, a shopping holiday that is celebrated in China on Nov. 11 and is considered to be the world’s biggest one-day shopping event. According to Lolli, Alibaba shoppers spent more…

A Mysterious Airdrop Called EIDOS Is Clogging EOS to Make a Point

EOS has been clogged up by a giant airdrop for a token called EIDOS – and it’s not clear the token is even good for anything. In fact, it seems as though the people behind the token are trying to make a point. The token seizing up the network is called EIDOS. Its promoted by a Twitter account, @enumivo, whose website only describes the token generation, not its purpose. However, its tweets appear to express discontent with the block producers running the EOS blockchain today. 6 days into EIDOS airdrop…

Airbnb Now Bookable With Bitcoin and Lightning Network via Fold App

Bitcoin payments app Fold now supports home-sharing giant Airbnb, the firm announced on Nov. 11. Now Fold users can get 3% back in Bitcoin (BTC) on every stay and experience booked on Airbnb. $25 and $100 Airbnb gift cards for Bitcoin Airbnb is now listed on its rewards program called Fold Kickbacks. The program supports Bitcoin’s second layer Lightning Network (LN) allowing to buy gift cards for Bitcoin with 3% cashback. Currently, Fold offers $25 or $100 gift cards on its website. Launched in July 2019, the Fold Kickbacks program…

Volvo Adopts Oracle’s Blockchain for Its Supply Chain — Here’s Why

Volvo Cars announced last week that it is using Oracle’s blockchain platform to trace cobalt, one of the main components in electric car batteries. Following the unveiling of the company’s first fully electric car, the XC40 Recharge, Volvo has come up with a new business strategy that includes introducing an electric vehicle every year through 2025. “Cobalt is at the heart of electric vehicle batteries, yet supplies are limited. Companies like Volvo are ramping up their production significantly, as half of Volvo cars will be electric by 2025. Each car…

Boxing Legend Manny Pacquiao’s PAC Token Set for IEO on Nov. 12

Boxing legend and Phillipino politician Manny Pacquiao’s PAC token will become available for purchase on the Singapore-based GCOX crypto exchange through an initial exchange offering on Nov. 12, according to a press release shared with Cointelegraph. The PAC token was first launched at the start of September this year, and its main purpose is to facilitate the purchase of merchandise and social media interactions with the Philippines-born current welterweight champion. According to previous reports, the token’s launch was backed and supported by Sheikh Khaled bin Zayed al-Nahyan, a member of…

Chinese Forex Regulator SAFE Expands Blockchain Cross-Border Pilot

Chinese regulator State Administration of Foreign Exchange (SAFE) expanded its blockchain cross-border financing pilot program. Local news outlet GlobalTimes reported on Nov. 11 that the system now covers 19 provinces and cities, up from nine. The development is unsurprising given that at the end of October SAFE deputy head Lu Lei said that there are plans to use blockchain and AI in cross border financing with particular attention devoted to risk management applications. “No space for human mediation” Per the report, unnamed experts hope that the blockchain implementation will allow…