Monday - Gladius Dissolves After Ignoring SEC Order
The cyber-security startup Gladius filed for dissolving without complying with the orders issued by the United States Securities and Exchange Commission (SEC). The company came into focus earlier in November when the deadline given to them by the regulator expired - they were supposed to refund their investors for the USD12.7M raised in their 2017 initial coin offering. Gladius joins the growing list of project dismantled by the SEC and it wouldn't be surprising to see the other two projects recently missing their deadlines reporting similar conditions and ceasing operation in the same manner.
Tuesday - Company Behind DX.Exchange Files Bankruptcy Following Staff Petition
The company behind the Estonia-based DX.Exchange, which ceased operations stating they are actively seeking a merger or a takeover for the exchange, has filed for bankruptcy following a petition by its employees. The employees stated that the exchange was owned by a Estonian entity, but in fact all operations were handled by CX Technologies, which were allegedly associated with another company accused of a multi-million dollar scam and banned from operating in Israel. DX.Exchange shut down on November 4th, claiming it is a temporary shut down of operations as it pursues a sale or merger.
Wednesday - Bitcoin Black Friday Shuts Down - Founder Calls Mission Complete
Jon Holmquist, the creator of one of the best known events in crypto, Bitcoin Black Friday, announced he will not be continuing the tradition and will be shutting down the site. In an official post on the website itself, Holmquist said “I have decided not to continue running the Bitcoin Black Friday event. After 7 years, and 6 successful events, I have fallen out of love with using bitcoin as a means of consumer payment.” but goes on to say that the primary mission of the site was to demystify the use of cryptocurrency - something he now considers achieved.
Thursday - BTC Carbon Footprint Lower Than Previously Thought?
Recent research points to Bitcoin mining carbon footprint not taking as big as a toll on the environment as it was previously suggested. The researchers took a new look at the figures previously presenting and found issue with the fact that the calculated carbon emissions are based on an assumption of uniform sources of electricity across China, a major player in the Bitcoin mining industry, while in reality, they greatly vary, and with them the amount of carbon emissions attributed to miners. By applying a varying power source model, the estimated emissions drop from 63 megatonnes of CO2 to as low as 17.3 megatonnes, a significant reduction from the original estimates.
Friday - Coinbase Patents Account Identification System
One of the major cryptocurrency exchanges and custodial service provider, the U.S. based Coinbase, has managed to secure a patent for its non-compliant account identification system. The now patented system uses a scoring model, determining a compliance score based on multiple factors unique to the user's account and then uses the score to quickly flag non-compliant accounts. Its implementation could help other exchanges save funds on developing their own methods as well as establish an industry standard, something that is the very basis of every mainstream industry.
Saturday - IBM Files Blockchain Anti Drone Package Theft Patent
U.S. based tech giant IBM has filled a new patent for a blockchain powered system of preventing package theft by drones. The system uses an altitude sensor used to trigger an alarm if the altitude of the package exceeds a pre-set limit and uses an IoT device to transmit its location data back to a tracking module. This patent could easily see application with any number of shipping companies currently looking into the growing problem of package theft - with drone thefts accounting for a significant portion of it - but it could also spike the interest of online retailer such as Amazon of Wallmart, especially considering Wallmart already being a user of IBM blockchain products.
Sunday - Disgruntled Investor Sues Stox Prediction Market And Founder
A disgruntled investor from Canada has decided to press charges against the Israeli crypto entrepreneur Moshe Hogeg and his blockchain company Stox. The case has been filed with the United States District Court for the Western District of Washington and the plaintiff, Sean Snyder, is accusing the company of going against their whitepaper and issuing a larger quantity of tokens than was originally planned, thus greatly affecting the token value.