Three Men Arrested for Running Alleged $722 Million Crypto Ponzi Scheme

United States authorities in New Jersey have announced the arrest of three men who are accused of defrauding investors of over $722 million as part of alleged crypto ponzie scheme BitClub Network, per a Dec. 10 announcement from the Department of Justice. The accusations against BitClub Network According to the press release, BitClub Network promised massive rates of return in exchange for investments in a shared cryptocurrency mining pool. The parties at the center of the scheme then allegedly misappropriated over $722 million of those funds into their own lavish…

Placeholder Leads $2 Million Seed Round for DeFi Services Provider Zerion

“Back in the ’90s many of us intuitively understood the Internet was a powerful new infrastructure but it took Marc Andreeseen with Mosaic and then Netscape to make this powerful new infrastructure accessible to a broader audience,” he said in the statement. “DeFi, or decentralized finance, feels just as profoundly transformative today as the Internet did then, but it is still too hard to use.” Source link

Singaporean Gov’t Blockchain Platform Facilitates $15.7 Million in Fundraising

The Singaporean government-backed blockchain platform Tribe has helped raise another $15.7 million for participating companies through its ecosystem. In a press release shared with Cointelegraph on Dec. 2, Tribe Accelerator revealed that a total of $28 million had been raised to date to support start-ups from around the world attempting to solve real-world problems with blockchain technology.  The first group of startups reportedly raised over $12.2 million within three months. Managing partner of Tribe Accelerator Ng Yi Ming commented: “Another successful round of fundraising underscores the relevance of blockchain technology…

Major Twitch Star Reveals Tempting $1.2 Million Offer to Change Sites

Twitch star Trainwreckstv reveals he was offered $1.2 million to leave the site. He was forced to turn the deal down because of his Twitch exclusivity deal. If he had moved, Trainwreckstv would be one of several other popular Twitch streamers to leave. In an episode of his Scuffed podcast, Twitch streamer Trainwreckstv revealed that he had been offered $1.2 million to leave the site. Trainwreckstv, who has 411,514 followers on Twitch, didn’t name the site but did confirm that it was a Chinese streaming company. That is a huge…

Gods Unchained Transfers 6 Million Cards Over Ethereum in 3 Days

Blockchain card game Gods Unchained has registered a record number of transactions on the Ethereum ERC-721 standard. Despite eclipsing CryptoKitties transactions in a matter of days, Gods Unchained is not clogging up the blockchain. The Gods Unchained marketplace will soon go live and provide a useful test-case for the future of Ethereum gaming. Crypto asset market research firm CoinMetrics has confirmed a huge spike in blockchain card trading over the last three days. The bulk of the transactions have come from the Hearthstone-inspired game Gods Unchained. According to CoinMetrics, transactions…

Canaan Targets $100 Million Through US IPO

One of the most significant developments of the past few months in the crypto sphere has been the potential initial public offering of Bitcoin miner maker Canaan. The company is the second-biggest company in the category, and its IPO is all set to be one of the biggest events in the crypto space this year. In a new development, the company stated that it wishes to raise as much as $100 million from its IPO in the United States. The statement is a bullish one and goes to show that…

Data Provider Messari Closes $4 Million Funding Round

Data provider Messari has closed a $4 million funding round led by Uncork Capital with new participation from Coinbase Ventures and former Coinbase CTO Balaji Srinivasan, according to a statement from the New York-based firm. As part of the deal, Uncork’s founder Jeff Clavier was named to Messari’s board of directors. Uncork joins existing Messari investors including Blockchain Capital, CoinFund, Danhua Capital, Fabric Ventures, Semantic Ventures and Underscore VC, among others. In a statement, Messari co-founder and CEO Ryan Selkis described “one of the industry’s toughest problems” as being the…

How to Turn a $17 Million ICO Into $104 Million: The Cosmos Story

The Interchain Foundation (ICF) raised $17 million in April 2017 to shepherd the development of the Cosmos network, a system for making blockchains talk to each other. Following the sale of its ATOM token, the ICF has funded a cast of supporting players, like Agoric Systems Operating Company (which the ICF invested in for traditional equity) and Tendermint, to build the underpinnings of the project’s interoperable aspirations: the Inter-Blockchain Communication (IBC) protocol. The goal is to be well-positioned for a multi-chain future. “I could have a contract on one chain…