Crypto Prediction Market and Derivatives Platform Veil Is Closing

Veil, the crypto-focused prediction market and derivatives platform, is closing its doors. Launched in January, the Veil web interface allowed users to place bets on Augur prediction markets, offering an instant settlement API to pay out on clear outcomes. The startup’s co-founder, Paul Fletcher-Hill, wrote in a Medium post: “We believe that cryptocurrencies and the…

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CEO of BitFunder Exchange Gets 14 Months in Prison for Fraud, Obstruction

Jon Montrol, the operator of defunct bitcoin-denominated trading platform BitFunder and WeExchange deposit service, was sentenced for securities fraud and obstruction of justice, according to a statement from the Southern District of New York. Montrol, of Saginaw, Texas, also known as Ukyo, will serve 14 months in prison for defrauding investors of his “Ukyo.Loan” scheme,…

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Another Crypto Company Wants to Offer Bitcoin Derivatives in the US

Institutional digital assets platform trueDigital Holdings has announced plans to offer bitcoin derivatives for U.S. investors. In a press release on Friday, the company said it’s reached an “agreement in principle” to acquire designated contract market (DCM) and swaps execution facility (SEF) registrations with the U.S. Commodity Futures Trading Commission (CFTC) from a firm called…

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Protestors Set Alleged Bitcoin Ponzi Scheme Perpetrator’s Home on Fire

Protestors set fire to paramedic-turned-bitcoin entrepreneur Sphelele “Sgumza” Mbatha’s home, following the collapse of his Ponzi-like “investment scheme,” according to Ladysmith Gazette. Mbatha’s company, Bitcoin Wallet, promised investors 100-percent returns by investing South African rand in cryptocurrencies. Before shutting down the operation on July 4, Mbatha was believed to have been taking in more than…

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Turkey’s New Economic Roadmap Calls for Central Bank Cryptocurrency

An economic road map unveiled by the government of Turkey this week includes several items related to blockchain, including a bid to create a central bank digital currency based on the technology. The Eleventh Development Plan, published on the government’s official website, was  submitted to the Turkish Parliament on July 8, according to regional reports.…

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John McAfee Offers to Build Cuba’s First Cryptocurrency

The cybersecurity expert and tech entrepreneur John McAfee recently declared his willigness to work with Cuba’s government as a crypto advisor. McAfee declared his intentions soon after Cuba’s government officials revealed their intention to develop a cryptocurrency to be used to avoid economic sanctions imposed by United States. According to Reuters, McAfee assured that the cryptocurrency project…

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Tron Says Protestors at Beijing Office Invested in Imposter Scheme

The price of Tron dropped precipitously Monday on inaccurate rumors of a “police raid” at the company’s office in Beijing. The real story, however, was far more interesting. According to an official company post, the police arrived to protect the office from “people [who] were deceived by the so-called ‘Wave Field Super Community,’” a group that…

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Facebook’s Libra Lacks Foundational Components for Crypto Key Security

Steven Sprague is one of the principal industry evangelists for the application of trusted computing technology. Steven served as president and CEO of Wave Systems Corp. for 14 years before transitioning to the board of directors. Recently, Facebook launched Libra with the stated goal of “transforming the global economy.” It’s a lofty aim. However, after…

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Libra Isn’t a Cryptocurrency. It’s a Glimpse of a New Asset Class

Noelle Acheson is a veteran of company analysis and a member of CoinDesk’s product team. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for institutional investors interested in cryptoassets, with news and views on crypto infrastructure delivered every Tuesday. Sign up…

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