MakerDAO Token Holders Vote on Whether to Lower DAI Stability Fee by 2%

A vote about whether to decrease the so-called stability fee for MakerDAO’s ethereum blockchain-based decentralized stablecoin DAI has started. The vote was announced on the organization’s blog on May 17. If approved, the latest proposal would decrease the stability fee by 2% to 17.5% per year. According to the announcement, the need to decrease the fee was discussed during the MakerDAO governance call that took place on May 16. MakerDAO is looking to change the yearly stability fee in an attempt to improve the token’s peg to the U.S. dollar…

Bitfinex Will List Its New Exchange Token Starting Monday

Crypto exchange Bitfinex will list its new exchange token, LEO, on Monday after purportedly raising $1 billion from the initial offering. In an announcement Friday, Bitfinex said that the token – whose full name is apparently UNUS SED LEO, also the name of the token’s formal issuer – will be listed on its platform and tradeable against bitcoin, the U.S. dollar, the tether stablecoin, ether and EOS. The company was first rumored to be considering a token sale last month, to make up for an $850 million shortfall in funds. The…

SEC Uncertainty Looms Over Token Summit – Again

It looks like Kik won’t sue the SEC after all, founder Ted Livingston told CoinDesk. In a widely circulated story, the Waterloo, Ontario, company had promised legal action against an expected regulatory action, but the odds that Kik will pursue that seem to be diminishing, even if the company’s legal expenses are not. Nevertheless, Livingston would prefer the SEC take any action rather than continuing to delay. “What we’re saying to them is, ‘Stop dragging this out, if you want to go to court, if you think there is an…

Bitfinex Crypto Exchange to Debut New Exchange Utility Token

Major cryptocurrency exchange Bitfinex has unveiled its exchange utility token UNUS SED LEO, in a press release on May 17. The token will be useable for a variety of exchange-based activities and will begin trading on Bitfinex on May 20 against tether (USDT), bitcoin (BTC), ether (ETH), U.S. dollars and EOS pairs. The whitepaper for the project, published on May 10, describes LEO as “a utility token at the heart of the iFinex ecosystem.” iFinex is the parent company of Bitfinex. iFinex purports that it provides a stronger and more independent…

Blockchain Infrastructure Firm Blockstream Launches Security Token Platform

Blockchain infrastructure firm Blockstream announced the launch of its security token platform in a press release shared with Cointelegraph on May 15. Per the announcement, the new Liquid Securities platform is a solution for businesses to issue security tokens on the Liquid Network. Blockstream Chief Security Officer Samson Mow claims that while businesses are willing to issue tokenized securities, platforms such as Ethereum are not the right choice because of their scalability, privacy and reliability limitations. Blockstream claims that its platform is more suitable for such use: “Now, with the…

Charles Hoskinson to Launch Security Token Blockchain With Polymath

Security token platform Polymath will build a separate blockchain for regulation-compliant tokens with an Ethereum (ETH) co-founder, the company confirmed in a blog post on May 13. Polymath, which has already contributed to the launch of over 100 security tokens, will now work with Charles Hoskinson on a new project dubbed Polymesh. Hoskinson, who after Ethereum became known for his subsequent cryptocurrency projects Cardano (ADA) and IOHK, will leverage his expertise to inform the development of the new platform. The partners confirmed the plans at the ongoing Consensus 2019 conference…

Gab Doesn’t Want Your Social Media Token — It Wants Bitcoin

Andrew Torba is getting into Bitcoin. Well, actually, he’s been into Bitcoin for quite some time. He contributed to CoinDesk back in 2013, most notably with an article he wrote about buying a Subway footlong with bitcoin. This was three years before he founded Gab, an alternative social media network “that champions free speech, individual liberty and the free flow of information online.” Gab has accepted bitcoin donations since its launch in 2016, but now it’s getting even further into the original cryptocurrency. Torba doesn’t just want to bankroll Gab…

Bitfinex’s Private Token Sale Raised $1 Billion in 10 Days, Exec Says

Cryptocurrency exchange Bitfinex has raised $1 billion through its native token in a private sale, according to its chief technology officer. Paolo Ardoino‏ tweeted Monday that Bitfinex has achieved the target in just 10 days, with participation from “giant” firms from both within the cryptocurrency industry and outside. Some of the investors, which were not named, invested over $100 million each, Ardoino‏ said, adding that others also contributed investments of over $1 million each. . @bitfinex is able to raise 1b USDt in 10 days, in a private sale. Private…

Bitfinex Token Sale Has Lined Up $1 Billion in Commitments, Shareholder Says

Bitfinex’s parent company has received $1 billion in hard and soft commitments for its exchange token sale, according to a shareholder involved in the process. Dong Zhao, founder of DGroup and an over-the-counter (OTC) trader in China who owns equity in Bitfinex, said in a WeChat post on Thursday that “there’s a high possibility Bitfinex will not conduct a public sale” for its token offering called LEO. Zhao told CoinDesk that the exchange has received both hard and soft commitments of $1 billion worth of USDT, the U.S. dollar-pegged cryptocurrency…

Germany Plans Major Digital Token Regulation Effort in 2019, Says Source

Germany plans to introduce draft regulations allowing blockchain bonds as soon as this summer, local daily business news outlet Handelsblatt reported May 9. Citing Thomas Heilmann, the ruling coalition government’s dedicated blockchain correspondent, the publication revealed the new legislation has already gained mainstream momentum, with a summary paper already in existence. According to Heilmann, it is both necessary and advantageous for Germany to embrace blockchain with supportive regulation. “We consider it to be of paramount importance that we bring blockchain technology forward for Germany, specifically in 2019,” Handelsblatt quoted him…