TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto update from your favorite reporter, Linzerd. Facebook looking to shield Zuckerberg from FTC’s latest privacy probe. Sirin Labs lays off 25% of its workforce. Lyft facing class action suit for its overhyped IPO. Central Bank of Russia details the pros and cons of crypto in a document. Cashual Wallet beta available on Google Play, and Serena Williams’ VC firm invested in Coinbase.
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Serena Williams Has Invested in Coinbase Since 2014
Serena Williams, the world-class tennis player, announced via an Instagram post she invested in several startups since 2014 through Serena Ventures. The VC invested in firms that would “embrace diverse leadership, individual empowerment, creativity, and opportunity.” Coinbase, one of the most important cryptocurrency exchanges, is among the 30 companies where Serena Ventures has put its money.
Facebook Shielding Zuckerberg in FTC Probe
The FTC (Federal Trade Commission) could be holding Mark Zuckerberg, the CEO of Facebook, personally accountable for the privacy failures the company faced this last year. However, Facebook executives are fighting to get Zuckerberg out of the equation and protect him during the privacy probe. If FTC investigators find him accountable for these flops, he might face personal sanctions and fines in the future, according to Ars Technica.
Sirin Labs Lays Off 25% of its Workforce
Sirin Labs, the cryptocurrency oriented phone manufacturer, recently announced its decision of letting go 25% of its workforce after sales of its long-awaited phone, the Finney, were not as the company expected. “The global market is not in the best state,” the company declared, but they denied some reports claiming they had failed to pay wages to employees corresponding to March and April. Last December, the company announced it was running out of cash, having resources for only 6-12 months more.
Lyft Inc Sued for Overhyped IPO
Lyft Inc., the shared ride transportation company, is facing heavy fire from a group of investors suing them, claiming they overstated their position in the US market, setting its initial stock price too high. The stock from Lyft fell almost 18 percent since its Initial Public Offering, reaching a price of less than $60. Two separate class actions were introduced against the company, with plaintiffs complaining Lyft failed to report a critical recall of 1k bikes in a ride-sharing program.
Central Bank of Russia Ponders Crypto
The Central Bank of Russia outlined the benefits and drawback of central bank digital currencies in an analytical note titled, “Is there a future for central bank digital currencies.” The CBR acknowledged the potential of crypto to cheapen the cost of transactions compared with current leading payment solutions, like cards and fiat. However, they also mentioned the lesser degree of privacy and anonymity offered by them compared to cash.
Cashual Wallet Beta Available on Google Play
Cashual Wallet, a Bitcoin Cash wallet with a heavy focus on ease of use, programmed by Jonathan Silverblood, the creator of the Cash Accounts easy wallet address system, is now available as a beta version on Google Play. While it still lacks certain functionality, you can test this new wallet by downloading it here, and help the developer to iron out kinks and bugs.
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