TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Bitcoin.com to launch $50 million IEO. Former Bitcoin Core dev Peter Todd’s rape defamation lawsuit is updated. Spencer Dinwiddie’s token to launch next week. PayPal reveals high severity password vulnerability. China completes the design of its digital currency, and Travala adds USDT as a payment option on its platform.
Bitcoin.com Exchange to Launch $50 Million IEO
Bitcoin.com is planning to launch an IEO (Initial Exchange Offering) of its own token, dubbed BCE. BCE will be an SLP token on top of Bitcoin Cash and will be used on their exchange to get hold of lower fees and early access to other listings. The token will be offered privately to investors in an attempt to raise $50 million. Investors from Japan and the United States will not be allowed to purchase tokens in the Bitcoin.com offer.
Former Bitcoin Core Dev’s Rape Defamation Lawsuit Gets Mixed Motion Decision
Last year former Bitcoin Core (BTC) developer Peter Todd filed a lawsuit against programmer Isis Agora Lovecruft, insisting Lovecruft defamed Todd by publically calling him a rapist on Twitter. Months later, Lovecruft filed a motion to dismiss Todd’s lawsuit based on speech grounds, something like harassment (SLAPP). The judge recently ruled Lovecruft could use an anonymous rape allegation against Todd. The motion also dismissed other declarations used against Todd, and allowed for yet another, ruling on what is hearsay and admissible going forward. It also states Lovecruft’s accusations against Todd are a matter of public interest. The upshot of all the legalese? Todd’s defamation lawsuit against Lovecruft can proceed with modifications and will not be dismissed.
Spencer Dinwiddie to Launch Digital Bond Next Week
— Spencer Dinwiddie (@SDinwiddie_25) January 10, 2020
After having sustained conversations with the NBA, and having delayed the original idea of the tokenization of his contract, Brooklyn Nets player Spencer Dinwiddie will, at last, issue a tokenized sale for his contract. The tokens, called SD8 and presented to the NBA recently, will be sold for $150K each, being non-tradeable for the first year. Dinwiddie implied negotiations with the NBA have been resolved, but a NBA spokesperson stated they were “reviewing (the new proposal) to determine whether the updated idea is permissible.”
PayPal Unveils “High Severity” Password Vulnerability
PayPal confirmed they found a bug that could possibly reveal the password of a user to an attacker of the site. The vulnerability was related to how the login form takes sensitive information when using Google’s Recaptcha service used to authenticate real users. The researcher who disclosed the bug earned more than $15K by reporting the issue on December 11 last year. PayPal corrected the bug in just 24 hours, but this proves how centralized custodial solutions can be vulnerable.
China Completes Design of Digital Currency
The People’s Bank of China announced they have completed the “top level” design of its cryptocurrency, according to a report from a local outlet. The bank states in their latest report that the top-level design, standard formulation, functional research and development have already been finished. Despite this, the official launch of DCEP (Digital Currency Electronic Payment) has not been announced. The currency will be distributed to banks first and then to domestic users through a digital wallet, analysts presume.
Travala Adds Tether Stablecoin as a Payment Option
— Travala.com ✈️ 🏨 (@travalacom) January 10, 2020
Travala, the cryptocurrency friendly hotel booking site, recently added USDT as a payment method in their platform. USDT is a stablecoin pegged to the value of the US dollar, very popular in crypto markets, and might bring users the possibility of using this service without worrying about price volatility. This would be the second stablecoin accepted by the company, the first being Gemini Dollar backed by the Gemini exchange founded by the Winklevoss Twins.
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