TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. KIK drops shut down its Messenger application, focuses on Kin token. Bakkt launches with roughly $600K traded during its first day. IBM could partner with Facebook to push Libra. Firefox’s new version blocks malicious miners by default. IOTA joins The Linux Foundation, and SEC charges “Fantasy Market” adult platform with ICO fraud.
KIK Drops App, Refocuses to Kin
KIK drops its messaging app, after rumors the company behind KIK Messenger was having financial trouble. It will now refocus to promote the adoption of its cryptocurrency Kin after being sued by the SEC. Its founder and CEO, Ted Livingston, explained he underestimated the tactics the SEC would use to manipulate the project and “draw out a long and expensive process to drain [our] resources.” KIK also decided to reduce their workforce to 19 employees, and will have only one goal: “converting Kin users into Kin buyers.”
Bakkt Launches With $600K Traded in Bitcoin Futures
Bakkt, the hyped bitcoin futures exchange, at last opened its doors to institutional investors, but their proposal was not well received by their targeted customers. In their first trading day, they only managed to move a little over $600K, a drop in the pond if compared to other Bitcoin futures markets, such as CME and Cboe. However, Bakkt executives warned it could take time for institutions to jump into this new futures market, and many traders will adopt a “wait and see” strategy.
IBM Could Partner With Facebook to Push Libra
While Libra, the Facebook cryptocurrency endeavor, has been received coldly by regulators worldwide, it still seems to be a great idea for some industry insiders. IBM’s blockchain services general manager Jason Kelley stated, during an interview with CNBC, they were open to help the social network with pushing Libra to fruition. “Our clients are ready to work with [Facebook] and we’re ready to work with all of them to bring it together.” “Blockchain is a team sport,” he concluded.
Firefox New Updates Blocks Cryptominers by Default
Firefox is aware so-called cryptomining malware has gained in populated, and so the browser announced it has included a malicious cryptomining script blocker by default in its new version. This points to the development team ramping up security for its users in the next versions, but is probably also an answer to the rise of other more modern browser alternatives like Brave.
IOTA Joins The Linux Foundation to Collaborate With LF EDGE Framework
IOTA, the internet of things cryptocurrency, decided to join The Linux Foundation to help them complete their suite of technologies. According to a press release, they will complete the decentralized ledger technology part of the LF Edge, an open, interoperable framework. With IOTA’s integration, the framework will level up “towards securing, scaling, and allowing for increased interoperability” between open source actors.
SEC Charges Adult Platform With ICO Fraud
The SEC charged “Fantasy Market,” and adult focused platform, with committing initial coin offering (ICO) fraud when issuing their own cryptocurrency. According to the complaint, the platform CEO, Jonathan C. Lucas, managed to get 63K from 100 investors to produce the FMT token, allowing their customers to enjoy exclusive features on the platform. Lucas presented a fake whitepaper with a non-existent working team, and also declared he had a beta of the system. Lucas will have to pay $15K as part of a settlement.
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