Blockstack Files For 1ST Ever SEC-Approved Token Sale, Craig Wright Strikes Again, Bithumb Posts $180 Million Loss And Crypto Market Sees Red — The Crypto2Cash Chronicle
Finish of the week right with today’s most shocking, interesting and important crypto news, coming to you right from the Crypto2Cash Office
Blockstack Files For 1ST Ever SEC-Approved Token Sale
New York-based blockchain software provider Blockstack has filed with the SEC, to offer the first ever SEC A+ regulated token sale. They are the first ever blockchain related firm to file for SEC approval and if granted, they would be licensed to raise up to $50 million in their token sale. Blockstack is developing the infrastructure for a decentralized internet, that will run on DApps and already raised around $50 million in a unregulated token sale in late 2017. The first funding round saw many large investors participating, including a representative of Harvard Managment, which seems to be the first ever university fund to invest in crypto.
Craig Wright Strikes Again
Controversial crypto figure and self proclaimed Satoshi Nakamoto, Craig Wright, has once again managed to make crypto Twitter furious. Wright is suing Twitter user “Hodlonaut” for defamation, after calling him “a fraud”. “Hodlonaut” is fairly respected among the community for starting the Lightning Torch, which recently ended, after travelling through 54 countries. Not only did Wright decide to sue someone for a tweet, he also doubled up by posting a reward of $5,000 to anyone who could identify the user behind the account. Many followers of Bitcoin SV, the cryptocurrency Wright supports, started the hunt for the bounty and ended up leaking the address and identity of “Hodlonaut”. This started a huge backlash against Wright and his supporters and people are now changing their user name and profile picture to Hodlonaut to create confusion and protect him. The trending hashtag #WeAreAllHodlonaut also made it viral travelling around the internet like lightning.
Bithumb Posts $180 Million Loss
South Korean cryptocurrency exchange Bithumb continues being plagued by financial issues. The exchange posted a net loss of $180 million for 2018, saying that the loss was mainly due to the sharp decline of prices in the cryptocurrency market last year. Most of the losses can be accounted for the large expansions Bithumb made in 2017, when the exchange noted a net profit of $469 million. Bithumb now said, that they will be cutting its staffing levels by up to 50 percent, from 310 to around 150.
Crypto Market Sees Red
The crypto market has seen larger losses over the last 24 hours, with all top 20 currencies being in the red. Bitcoin lost around 3.20% on the day, but managed to stay over the important $5,000 mark. Most Alt-coins saw losses between 5 and 6 percent, with Bitcoin SV loosing the most, down over 8 percent on the day.
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