Bryce Galbraith
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The company that conducted the initial coin offering (ICO) for the EOS token, Block.one, has had a class-action lawsuit filed against them in the Southern District of New York. The suit alleges that the company defrauded the plaintiffs through a year-long illegal ICO that raised more than US$4 billion but left investors with an unregulated asset.
The partnership will enable professional traders to mitigate the counterparty and settlement risks associated with cryptocurrency trades.
On the 10th of May, over 13 million USDT of the Binance Futures Insurance Fund was used to protect users trading Binance derivative products.
Robinhood is a commission-free trading platform that allows users to trade stocks, ETFs, options, gold, and crypto via a mobile app or web browser. The company was founded in 2013 and has been one of the most successful fintech startups of recent years. Robinhood’s main source of revenue comes from interest earned on customers’ cash balances and margin lending. The company has ~10 million users.
The Open University in the UK has developed a digital certificate to prove a person"s immunity against COVID-19. The solution is among a growing number of tools being developed to tackle the COVID-19 pandemic.
Bitfinex has launched a social networking platform for its users called Pulse. The platform brands itself as “the next generation of social trading.”
Whalepool has created a websocket script to analyze trade data from major crypto exchanges. The tool is able to identify potential fake volumes by checking for order executions that occur between the bid and ask price.
According to Zerion CEO Evgeny Yurtaev there are two major issues in the current crypto space. Primarily, although protocols are decentralized many access points to the system, like exchanges, are still centralized. In addition, many crypto projects are managed through centralized organizations that too often lack transparency or accountability. As a result, the blockchain industry has not yet opened up finance.
Owing to restrictions within the U.S. and abroad during the COVID-19 pandemic, the demand for refined petroleum products has all but disappeared. As a result, oil refineries have significantly cut their production and purchase of crude oil. This change in market demand created a dynamic where there were too many sellers and limited buyers.
Binance saw rapid growth during its first year, after launching in 2017, and quickly became one of the biggest cryptocurrency exchanges in the world. It’s during this first year that Binance also started to lay the groundwork for an entire blockchain ecosystem, including its own blockchain.
