TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Warren Buffett says he will never own cryptocurrency. Bank of England chief cashier says considering a central bank digital currency (CBDC) is crucial. BT360 Israeli wallet locked users out of their funds. Steem forks to protect from Justin Sun. Genpool eases vote-buying in EOS, and Honk SLP token to be listed in Bitcoin.com exchange.
Warren Buffett Slams Crypto Again
— CNBC (@CNBC) February 24, 2020
Warren Buffett, legendary investor and owner of Berkshire Hathaway, slammed crypto again in a recent interview. Buffett declared that, while he enjoyed the dinner he had with Justin Sun, he hasn’t changed his mind when it comes to cryptocurrencies and their lack of value. Buffett declared cryptocurrencies “basically have no value. They don’t produce anything.” Buffet also declared he does not own any crypto and won’t in the future.
Bank of England Chief Cashier Considers CBDC “Crucial”
Sarah John, the chief cashier of the Bank of England, recently referred in a positive way to the possibility of a Central Bank Digital Currency (CBDC) for the institution. John declared it “absolutely is really important central banks think about that as an option.” She concluded by pointing to the importance of the institution keeping innovation on par with private tech alternatives, insisting they “need to think as an institution about how to position ourselves to make sure society still has a broad range of payments that it can use with confidence.” China is expected to launch its official CBDC later this year.
BT360 Wallet Locks Users’ Funds
BT360, a popular cryptocurrency Israeli wallet, locked out users’ funds while authorities investigate several alleged financial irregularities, according to an article from Calcalist, a local fintech publication. While this is the official statement, there has been a lot of finger-pointing between Eyal Sadeh, the owner, and the CEO, Erez Fischler, who blame each other of mishandling user funds. Fischler alleged he left the company weeks before the event, and had no access to users’ accounts, while Sadeh states Fischler has the money of the users. Reports state hundreds of thousands of dollars have been lost.
Steem Moves to Limit Justin Sun Power Over the Blockchain
Steem, a social blockchain that allows users to earn direct revenue streams, executed a reversible fork to protect the blockchain from the influence of Justin Sun, CEO of TRON who bought Steemit, the biggest dApp using the Steem blockchain. These other holders decided to invalidate the tokens Steemit has to avoid the possibility of a takeover. Sun answered in a polite way, saying he feels “it is important to show you guys I am here and ready to begin building with you.” The debate is still open in the Steem community about what will be done with these coins and the influence of Sun on the blockchain.
Genpool Eases Vote Rewards on the EOS Blockchain
Genpool, a new service for EOS that eases the process of sharing block rewards with voters, launched, making this now accessible for block producers. Governance in EOS allows for block producers to share their earnings after being elected, effectively “buying” votes with the promise of sharing block rewards after. Genpool introduces a reward proxy for block producers to share the revenue of their activity with voters without having to contract engineers with technical expertise to design a custom solution. While this is a criticizable task for some users, others say this will improve participation.
Honk SLP Token to be Listed on Bitcoin.com Exchange
Honk, a SLP token based on the “Clown World” meme, will be listed on the Bitcoin.com exchange, according to information shared by the founder of the SBS initiative, Keith Patrick. Patrick stated in the official Telegram channel of the Honk token they “just received our legal review from our lawyers and it was approved by exchange.bitcoin.com’s in-house legal team,” and clarified the token listing would be happening during this week. Honk is already being traded on another exchange called Altilly.
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