TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto update from your favorite reporter, Linzerd. OneCoin leader arrested by the FBI. LedgerX CEO gives expletive-filled while defending women and diversity. Connecticut introduces a bill to legalize smart contracts. NEM Foundation presents a new plan involving layoffs. Nakamoto Game lottery goes live on Bitcoin Cash, and Bitcoin Private threatens to sue HitBTC.
OneCoin Leader Arrested on Money Laundering and Securities Fraud Charges by the FBI
OneCoin, a cryptocurrency ICO, was shut down by the FBI who arrested its current leader Valentin Ignatov in the International Airport of Los Angeles. OneCoin was called a multibillion-dollar pyramid scheme by the court. Reports show OneCoin was fraudulently managed, with mining and other processes being handled centrally by proponents of the project. Furthermore, emails of its leaders planning an exit scam were also presented as proof of the illegal characteristics of this operation.
LedgerX CEO Defends Women and Diversity with Expletives
A blog post written by Paul L. Chou, CEO of LedgerX, a bitcoin derivatives exchange, went full expletive mode by defending what he calls diversity. In the post, he tells the tale of “one stupid asshole” that asked one of his employees when she was having her upcoming baby, due to her leaving on maternity leave. He also declares there are “so many wrong things in DC and I intend to fix it,” and that he will make lives of those who upset the women at LedgerX “miserable.”
Connecticut Set to Legalize Smart Contracts Use in Commerce
A new bill introduced in the state of Connecticut has the intention of legalizing and approving use of smart contracts for businesses, stores, and commerce carried out within state limits. Connecticut would be one of the first states to recognize the adoption of this technology for resolution of certain problems in key areas.
NEM Foundation Presents its New Focus Proposal After Major Cuts
The NEM Foundation presented its new approach after having scored funds of 25 million XEM, a little more than one million dollars. The foundation was heavily hit by the latest bear market, and introduced a new proposal last February. With this proposal, 69% of the staff currently employed at the foundation would be made redundant, leading to inevitable layoffs of up to 88 employees, according to CoinDesk. They are now setting up a “transformation task force” to work on key contracting.
Nakamoto Game Lottery Goes Live
Nakamoto Game, a blockchain based lottery system, has gone live on the Bitcoin Cash Blockchain. The system lets users bet 0.01 BCH and get a random lucky number based on the last number of the transaction made on the blockchain. The winner is chosen by taking the block height of a random block every three days, and if the lucky number is repeated among two or more people, the pot is split. Participate at nakamotogame.com
Bitcoin Private Team Accused HitBTC of Fraud
The team of Bitcoin Private, a fork-merge of Bitcoin and ZClassic, accused HitBTC, a cryptocurrency exchange, of fraud publicly in a letter sent by Petros Law Group. The letter states HitBTC asked for ransom money after a coinburn for not delisting the cryptocurrency. However, it seems that the only coins affected by this coinburn were coins exchange owners held secretly. Supposedly, this led to HiBTC delisting Bitcoin Private.
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