TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto update from your favorite reporter, Linzerd. Facebook is reportedly looking for third-party funding for its crypto project. Kraken sued by ex-employee. Coindesk’s Consensus conference only accepts fiat-based payments on their portal. Liberland token is the first SLP token listed on an exchange. Bgogo launches IOU initial exchange token for Algorand without permission, and cryptocurrency options are now available at Deribit.
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Facebook Looking Crypto Project Investment
Update on Facebook's cryptocurrency: Sources tell me that Facebook is now looking to get VC firms to invest in the Facebook cryptocurrency project we reported on earlier this year. I hear they are targeting big sums — as much as $1b.
— Nathaniel Popper (@nathanielpopper) April 8, 2019
According to a tweet from Nathaniel Popper, a tech reporter for the New York Times, Facebook is looking for third parties to invest in their cryptocurrency project. Facebook would be raising this money to use it as collateral to position its cryptocurrency as a stablecoin and back it up with large sums of money, up to $1 billion. It would be one of the first projects that Facebook looks to fund with third party assistance.
Kraken Sued By Ex-Employee
Kraken, one of the most important US-based exchanges, is being sued by an ex-employee who claims the exchange owes him compensation. The ex-employee, Jonathan Silverman, was supposedly offered a 150K salary, and bonuses up to 10% commission of the trading desk’s annual profit by Jesse Powell, Kraken’s CEO. Silverman claims he never received this bonus, and he is now suing for in excess of $900,000.
Coindesk Consensus Conference Only Accepts Credit Card Payments
Coindesk Consensus, the crypto conference that drew a lot of attention last year, is only accepting fiat based payment choices for the purchase of tickets this time around. The conference does not even offer the choice of paying with crypto directly, offering to accept such payments only by writing to their email, [email protected]
Liberland Merit SLP Token Listed on Exchange
— Altilly (@altillycom) April 5, 2019
The Bitcoin Cash-based SLP token, Liberland Merit, the official token of the independent sovereign state located between Croatia and Serbia, is now listed and traded in Altilly, a cryptocurrency exchange. This would constitute the first time an SLP token is listed on an exchange.
Bgogo Exchange Launches Strange Algorand IEO
This is unbelievable. @BgogoExchange is running an IEO without the project's permission. But that's not the best part – Algorand (the project in question) won't launch for the next couple of months and there is no ERC20 token. So Bgogo is literally preselling an IOU. Dump 2.0 pic.twitter.com/2XZod8A2gM
— Larry Cermak (@lawmaster) April 8, 2019
According to analyst Larry Cermak, BGogo, a cryptocurrency exchange, is running an IEO (Initial Exchange Offering) on a token called Algorand, without the approval of their creators. In fact, the Algorand project has no token sales projected in the near future, because its token has not been even launched yet. In any case, the exchange is selling IOUs for the mentioned token, an unorthodox approach to put it mildly.
Crypto Options Now Available on Deribit
Deribit, an Amsterdam based exchange founded in 2016, is now offering cryptocurrency options for bitcoin and ethereum, as well as futures. The options are settled in money inside the exchange, but they can only be withdrawn in the form of cryptocurrency. Deribit is an unregulated exchange, but they haven’t had security or service issues, such as with BitMEX, during peak trading levels on their operation since its launch in 2016.
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