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The Daily: Epic Founder Addresses Fortnite Crypto Rumors, Robinhood Recruiting in London

January 7, 2019 |

The Daily: Epic Founder Addresses Fortnite Crypto Rumors, Robinhood Recruiting in London

In today’s edition of The Daily we cover reports that Robinhood is working under the radar to hire staff in London for an expansion into the U.K., an auction of seized cryptocurrency in Northern Ireland, and comments from the founder of Fortnite developer Epic Games about rumored cryptocurrency partnerships.

Also Read: Mckinsey: Despite Billions of Dollars, Corporate Blockchains Have Achieved Little

Epic Games Founder Addresses Fortnite Crypto Rumors

The Daily: Epic Founder Addresses Fortnite Crypto Rumors, Robinhood Recruiting in LondonTim Sweeney, the founder of Fortnite developer Epic Games, has taken to social media to address the rumors that his company might be partnering with cryptocurrency projects. “No, Epic doesn’t have any cryptocurrency partners and aren’t in any crypto partnership discussions with anyone,” he stated. “We do read lots of papers and talk to smart people to learn more in anticipation of an eventual intercept.”

Further to the above, it is not out of the question that the developer will support crypto one day, as Sweeney added that: “Many of us at Epic are big fans of the decentralized computing tech underlying cryptocurrency, however a lot more work is needed on volatility and fraud-proofing before bringing it to such a broad audience that includes younger gamers.”

The rumors began after the merchandise store of the popular video game, Fortnite Retail Row, recently started accepting payments in the privacy-centric coin monero (XMR). Sweeney explained that: “Actually, Fortnite’s brief foray into crypto was accidental. We worked with a partner to open a merchandise store, and somewhere along the way monero payment was enabled.”

Robinhood Is Recruiting in London

The Daily: Epic Founder Addresses Fortnite Crypto Rumors, Robinhood Recruiting in LondonRobinhood Markets, the Menlo Park, California- headquartered brokerage app which has been expanding its crypto service across the U.S., is now reportedly working under the radar to hire staff in London. The stealthily recruiting is supposedly needed for a new office in the British capital ahead of a possible expansion to the United Kingdom.

According to Techcrunch, sources within London’s fintech industry reveal that Robinhood is looking for people to work on recruitment, operations, marketing, customer support, compliance and product design. These functions are all needed to launch a local solution tailored to the regulatory needs of the U.K. market.

Seized Cryptocurrency Auction in Northern Ireland

The Daily: Epic Founder Addresses Fortnite Crypto Rumors, Robinhood Recruiting in LondonAccording to reports from Northern Ireland, a local company will hold an auction of seized cryptocurrency on Monday. The sale involves 167.7 monero (XRP), which was seized under the Proceeds of Crime Act by a U.K. law enforcement agency.

Aidan Larkin, head of asset recovery at Wilsons Auctions, told the Belfast Telegraph that the company is working with over 40 government agencies from the U.K. and abroad. “Following huge investment into our systems and infrastructure, we are able to offer government and law enforcement agencies throughout the U.K., Ireland and internationally a secure solution so that the ever-increasing problem of seized cryptocurrencies can be managed by an auction company with significant experience dealing with seized assets.”

The Northern Ireland company also reportedly won a contract with the Belgium Federal Government’s Asset Management Office to facilitate the seizure, storage and sale of seized cryptocurrencies.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: Epic Founder Addresses Fortnite Crypto Rumors, Robinhood Recruiting in London appeared first on Bitcoin News.

Bitcoin News

Southwest Airlines founder Herb Kelleher dead at 87

January 4, 2019 |

Today, Southwest carries more passengers within the United States than any other airline.
FOX News

CNN

JD.com founder will not be charged with sexual assault

December 22, 2018 |

Minnesota prosecutors will not file sexual assault charges against Richard Liu, the billionaire CEO of Chinese e-commerce giant JD.com.
CNN.com – RSS Channel – World

Saxo Bank Founder Lars Christensen Is Waiting for a Cryptocurrency Panic Sell-Off

December 20, 2018 |

Danish Saxo Bank founder Lars Seier Christensen made millions trading BTC, but as the CEO of a bank, he had a hard time persuading his staff to offer crypto services. Now he’s waiting on the sidelines for another panic sell-off before re-entering crypto trading. 

Also read: Saxo Bank Offers Bitcoin Exchange Traded Notes

‘Our Current System Is Deeply Inefficient’

55-year-old Danish banker Christensen, also known as Stig, says he has always had an “ultra-libertarian streak” and is critical of the current banking system. He explained that after spending 30 years in fiat currency trading he is naturally fascinated by any significant innovations in the realm of currencies.  Saxo Bank Founder Lars Christensen Is Waiting for a Cryptocurrency Panic Sell-Off

“There are many ways in which our current system is deeply inefficient and can be improved, both by better delivery of fiat currencies and asset-backed tokens, as well as true cryptocurrencies. It is all about mainstream adoption, and whether a real store of value argument can be lifted on a long-term basis, or whether speculation and high velocity utility will prevail,” said Christensen.

He described the banking industry as “old wine in new bottles, not that different from the past” and believes that through the adoption of new technology things can be vastly improved.

Crypto Gamble Pays off as Christensen Gets the Last Laugh

Christensen made an early investment in BTC, buying when it was priced at $ 100 – $ 400 five years ago. He then cashed out over one million dollars when BTC reached $ 6,300 in 2017.  

“This was just before the blow-off rally in the last part of the year, so I looked like an idiot for a while, particularly because the main Danish financial paper got wind of it and ran a front-page story on my sale! But now I look a little smarter, I guess … I haven’t invested in cryptocurrencies like BTC and ETH since,” said Christensen. 

Christensen explained that he will only jump back into crypto again if prices go significantly lower. BTC wasn’t the only thing he sold off; last year the Dane also sold off his stake in Saxo Bank to Chinese billionaire Li Shufu.

Searching for Gold Nuggets

Saxo Bank Founder Lars Christensen Is Waiting for a Cryptocurrency Panic Sell-OffOn the more speculative side of things, I am looking for a final panic sell-off in ethereum, say below $ 25, where I will be tempted to pick some up and wait patiently for a possible revival. I am also looking at a couple of serious fund vehicles that do extensive research across the space. Because of course there will be some gold nuggets that have been dragged down unfairly in this bear market as happens in all bear markets, and also in traditional asset classes,” explained Christensen.

After stepping down as the bank’s head, Christensen is now busy with the launch of a new blockchain business, Concordium.  “For me it is fascinating to try to do the same [role as I formerly held] in this area. I think Concordium could be a major game-changer for the industry and help the true DNA of public blockchains progress to the next level,” he enthused.

Watch out for Further Crypto Regulation

Having been involved in retail derivatives trading for more than 25 years, and after building a platform in the crypto sector, Christensen believes he’s had a front row seat from which to observe how regulations have developed in the foreign exchange and derivatives space since the 1980s.  He warns that similar developments will be seen in cryptocurrencies, and believes that nearly all existing crypto projects are ill-prepared for this. In his view, further cryptocurrency regulation is inevitable and unavoidable.

Do you agree with Christensen that the current crypto system is deeply inefficient and can be improved? Let us know in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Saxo Bank Founder Lars Christensen Is Waiting for a Cryptocurrency Panic Sell-Off appeared first on Bitcoin News.

Bitcoin News

Vine Founder Dead at 35

December 16, 2018 |

Colin Kroll, a tech executive who co-founded the HQ Trivia app, has died. He was 35, the AP reports. The New York Police Department says officers went to Kroll’s Manhattan apartment early Sunday after getting a call asking for a wellness check on him. They found him unconscious and unresponsive…
Newser

YouTube Bans Proud Boys Founder

December 11, 2018 |

Proud Boys founder Gavin McInnes has been kicked off another website—but it’s not because of his far-right beliefs, according to YouTube. A notice on the Canadian’s account, which had around 221,000 subscribers, states that it has been terminated because of multiple claims of copyright infringement, CNET reports. The…
Newser

Etherdelta Founder Fined $400K for Operating Unregistered Securities Exchange

November 8, 2018 |

SEC Fines Etherdelta Founder $  400K for Operating Unregistered Securities Exchange

The U.S. Securities and Exchange Commission has published details of a cease and desist order it has taken against Zachary Coburn, the operator of Etherdelta. The decentralized ER20 token exchange was the leading Ethereum DEX during its peak, executing more than 3.6 million orders. According to the SEC, many of those orders were for unregistered security tokens.

Also read: Huobi Opens Office in Russia, Plans Startup Accelerator and Mining Hotels

Zachary Coburn Settles With SEC

Etherdelta Founder Fined $  400K for Operating Unregistered Securities Exchange
Zachary Coburn

Zachary Coburn is almost $ 400,000 out of pocket after settling with the SEC for having operated Etherdelta as an unlicensed exchange where security tokens were traded. In total, Coburn has been ordered to pay $ 300,000 in disgorgement with an additional $ 88,000 in penalties on top. While the news, published in an SEC document today, has come as a surprise, it has been evident for some time that DEXs operating within the U.S. are going to have to change their business model. IDEX, which has replaced Etherdelta and its Forkdelta spin-off as the most popular platform of its kind, announced earlier this week that it would introduce KYC. It’s also barred residents of New York and a handful of other states from accessing the site.

In a 12-page ruling, the SEC lays bare the facts of the case, citing its report into the collapse of the DAO in which “the Commission advised that a platform that offers trading of digital assets that are securities and operates as an ‘exchange,’ as defined by the federal securities laws, must register with the Commission as a national securities exchange or be exempt from registration.” The document also explains how Coburn operated Etherdelta from July 2016 until November 2017, when he sold it to “foreign buyers.” The report chastises:

Coburn founded Etherdelta, wrote and deployed the Etherdelta smart contract to the Ethereum blockchain, and exercised complete and sole control over Etherdelta’s operations, including over the operations constituting the violations described above. Coburn should have known that his actions would contribute to Etherdelta’s violations.

A Hefty Fine But No Further Action Taken

Etherdelta Founder Fined $  400K for Operating Unregistered Securities ExchangeDespite the severity of the fine Coburn was forced to pay, the founder could have fared worse. The SEC appears to have gone relatively easy on him due to his cooperation and willingness to pay any penalties levied. “The Commission considered remedial acts promptly undertaken by Respondent and cooperation afforded the Commission staff,” acknowledges the report. “Coburn’s efforts facilitated the staff’s investigation involving an emerging technology.”

While Etherdelta was a small exchange in the cryptocurrency landscape even at its peak, the ramifications of the SEC’s actions are sure to resonate far and wide. Exchanges, both centralized and decentralized, will be carefully examining their KYC and token listing policies in light of today’s report to ensure they aren’t next in the line of fire.

What are your thoughts on the SEC’s ruling? Let us know in the comments section below.


Images courtesy of Shutterstock.


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The post Etherdelta Founder Fined $ 400K for Operating Unregistered Securities Exchange appeared first on Bitcoin News.

Bitcoin News

LendingClub founder banned from the securities industry for three years

October 1, 2018 |

LendingClub Corp.’s former chief executive officer agreed to be banned from the securities industry for at least three years to resolve allegations that he misused investors’ money.

Renaud Laplanche, 47, will pay $ 200,000 to settle U.S. Securities and Exchange Commission claims that he directed…


L.A. Times – Business

Ted Turner, billionaire founder of CNN, battling brain disease

September 29, 2018 |

Ted Turner, the media mogul and cable news trailblazer, revealed in an interview set to air this weekend that he’s coping with a brain disease known as Lewy body dementia.
FOX News

Facebook Exec Fires Back at WhatsApp Founder

September 27, 2018 |

“A whole new standard of low-class.” That’s what Facebook exec David Marcus has to say about criticism leveled at the social media platform and Mark Zuckerberg by Brian Acton, co-founder of WhatsApp, CNBC reports. In a Forbes interview, Acton says Facebook, which bought WhatsApp for $ 22 billion in 2014, was…
Newser