Telegram Won’t Let American TON Investors Get 110% Refund in 2021

Soon after missing the April 30 deadline to launch the Telegram Open Network (TON), Telegram sent another letter to its investors. In the new letter, Telegram reportedly said that American TON investors will not be able stay in the TON project for another 12 months. American TON investors will be only eligible for an immediate 72% repayment instead of a 110% refund option in April 2021, Russian news agency RBC reports on May 4. Telegram had to retract the 110% option due to regulatory uncertainty in the U.S. The news…

CZ Insists That DDoS Attacks Were Foul Play From Binance Competitors

As Zhao told Cointelegraph on May 4, the April 29 attack was “well-coordinated” and focused on making Binance services unavailable in some countries of Asia. Competitors behind the attacks? Zhao emphasized that there are “a number of tell-tale” signs that such attacks came from competing exchanges. In the statement, Binance’s CEO stated that DDoS attacks were more expensive for hackers than for the exchange itself. CZ provided more details regarding specific DDoS targets: “The attacks focused on all of our public endpoints in those targeted regions simultaneously. We use a…

New Season of ‘Billions’ Opens With Bitcoin Mining Bust

Showtime released the first episode of the fifth season of financial drama series “Billions,” which opened with a Bitcoin mining bust. The new season, based on the life of the former New York District attorney Preet Bharara, began on May 3 with a plot revolving around a group of cryptocurrency miners operating an illegal Bitcoin (BTC) farm. Previous seasons talked about the world of the stock markets and legal disputes with hedge fund managers on Wall Street. Crypto enthusiasts may find the new episode more familiar Bitcoin’s intrinsic value discussion…

US Senator Loeffler Reports 2019 Income of $3.5M From Role as CEO of Bakkt

Per her financial disclosures, filed the evening of May 1 after an extension in January, Loeffler’s assets are significant, as was her income as CEO of Bakkt. The much-awaited financial disclosures While Loeffler initially delayed filing her mandatory financial disclosures when she took office in January, they are now available. According to SEC filings by Bakkt’s parent company, the Intercontinental Exchange (ICE), $980,000 of the $3.5 million were in the form of cash, with the rest in the form of equity. In addition to income of $3.5 million from employment…

Craig Wright’s Satoshi Case Goes To Trial July 6

Lawyers representing both sides confirmed to Cointelegraph that they expect the trial to convene on July 6. The case that has been captivating the crypto community for several years now may finally receive a resolution. On May 1, Judge Bloom, who presides over the case, issued a court order for the trial to begin on July 6. More importantly, the lawyers representing both sides confirmed that they are not planning to file any motions that could delay the trial and are eagerly looking to the opportunity to prove their case…

MakerDAO Takes New Measures to Prevent Another ‘Black Swan’ Collapse

The decentralized finance lending market Maker, like many crypto participants, suffered losses during the price collapse of “Black Thursday” on March 12. The price of Ether (ETH) declined by about 50% within 24 hours, triggering a zero-bid attack as the Maker system became swamped with a huge volume of liquidations. In the aftermath of the crisis, Maker recorded losses totaling 6.65 million Dai (about $6.65 million) and has been forced to make sweeping changes to its governance and auction parameters. The project also added the stablecoin USD Coin (USDC) to…

Original Blockchain & Bitcoin: Different Paths To Decentralization

Blockchain co-inventor, Scott Stornetta discusses why Satoshi’s Bitcoin (BTC) design diverted from his implementation of blockchain. In our previous articles, we described Stornetta’s views on Satoshi’s background and the philosophical evidence of why Stornetta could have been Satoshi. Now, we focus on an important design difference between the original blockchain that Stornetta created with longtime partner Stuart Haber and Satoshi’s Bitcoin. Block rotation vs. validation rotation In the original blockchain, there was no rotation of the block producers. Instead, block validation was decentralized. Also, since there was no built-in cryptocurrency,…

Spanish Multinational Bank BBVA to Explore Zero-Knowledge Proofs

The Banco Bilbao Vizcaya Argentaria (BBVA), a multinational bank headquartered in Spain, has announced a partnership with Madrid-based research center IMDEA Software Institution to explore zero-knowledge proofs (ZKPs) alongside other “advanced cryptographic techniques.” Both entities will freely utilize each other’s technologies and research to drive innovation as quickly as possible.  BBVA plans to offer products based on cryptography The partnership will see the institutions research a number of applications for cryptography in the context of the financial sector, including ways to ensure that data shared within a network is not…

Buffett ‘Killed His Reputation’ by Being Stupid About BTC, Says Max Keiser

Warren Buffett, the fifth-richest person on the planet, has repeatedly expressed his unfriendly stance toward Bitcoin (BTC). One of the most successful investors of all time, Buffett might be killing his reputation by being that harsh to BTC, according to one industry player. Max Keiser, famous American broadcaster and known Bitcoin bull, is confident that Buffett’s highly critical stance on Bitcoin is no good for the legendary investor. Keiser argues that it’s time to leave Buffett in the past On May 2, Buffett’s Berkshire Hathaway reported a $50 billion Q1…