Former Employees Sue Justin Sun and TRON Foundation, Alleging Workplace Hostilities

Former Employees Sue Justin Sun and TRON Foundation, Alleging Workplace Hostilities 1  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

A lawsuit accuses the frontman of the TRON cryptocurrency and his business associate of harassing and firing two employees, allegedly as payback for the employees’ objections to management practices and applications of the technology they were developing. In a 70-page court document filed in October in California state, Richard Hall, 50, and Lukasz Juraszek, 28, said they put up with escalating hostilities on the job that culminated in their termination last summer from BitTorrent, a file-sharing service that combined with the TRON Foundation in a $120 million sale two years…

Harmony Kicks Off Migration From Ethereum and Binance Chains to Its Own

Harmony Kicks Off Migration From Ethereum and Binance Chains to Its Own 2  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Holders of the ONE token from the team at Harmony should make plans to swap their ERC-20 (ethereum) or BEP-2 (binance chain) tokens for the coin on Harmony’s blockchain if they want to be able to participate in staking and other network activities.  According to a blog post shared Thursday, Harmon’s token swap is ready to commence, allowing current holders to switch to the company’s native asset. “The ONE token swap is the first of many steps we will take in 2020 towards a fully fledged Harmony platform. Mainnet ONE…

Federal Judge Orders Kik Technical Advisor to Sit for Deposition With SEC

Federal Judge Orders Kik Technical Advisor to Sit for Deposition With SEC 3  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Kik technical advisor Tanner Philp must be deposed by the Securities and Exchange Commission (SEC) related to the company’s 2017 kin token sale, elongating the discovery process in the messaging app’s battle with federal regulators. The agreement was made Wednesday before District Judge Alvin K. Hellerstein in the U.S District Court for the Southern District of New York. Overseeing the latest motion for discovery in this $100 million ICO standoff, Judge Hellerstein initially ruled that Kik CEO Ted Livingston should appear for a deposition, but attorneys for both sides appeared…

CME Open Interest for Bitcoin Futures Up 100% Since Start of 2020

CME Open Interest for Bitcoin Futures Up 100% Since Start of 2020 4  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Open interest in bitcoin futures listed on the Chicago Mercantile Exchange (CME) have doubled in the first few days of the year, as noted by data analytics firm Skew. About $235 million worth of positions (5,329 contracts) were open on the CME on Jan. 17 compared to $110 million seen in early December. Open interest is the sum of all contracts that have not expired, been exercised or physically delivered. Open interest has spiked alongside price, confirming an upward trend. Bitcoin bottomed out near $6,430 in mid-December and rose to…

SEC: Cash-Strapped Telegram Launched 2018 Token Sale to Pay for Servers

SEC: Cash-Strapped Telegram Launched 2018 Token Sale to Pay for Servers 5  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Telegram launched a 2018 token sale because it was “short on cash” to pay for servers, the U.S. Securities and Exchange Commission (SEC) said. The claim, made in the regulator’s latest document dump in its ongoing securities case against Telegram, shows for the first time the core of the SEC’s argument: that the token sale was merely a substitute for equity financing. At the time of the sale, Telegram framed it as financing for a next-generation blockchain that would be faster and more versatile than its predecessors. The documents released…

Crypto dealer SFOX Adds New Service for Fund Managers to Invest in Digital Assets

Crypto dealer SFOX Adds New Service for Fund Managers to Invest in Digital Assets 6  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

San Francisco Open Exchange unveiled Thursday its new “Separately Managed Account Solution” to help investors create their own crypto trading strategies. The service enables fund managers to manage individual securities in a single account for their clients in the traditional financial services industry. However, the company claimed the new service has not been available to those who invest in digital assets. According to a blog post from SFOX, the new service will allow fund managers to design and administer personalized crypto trading strategies for their clients. The company said crypto…

Ahead of Davos, What Can Cash Teach Us About Crypto?

Ahead of Davos, What Can Cash Teach Us About Crypto? 7  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

This is part of a series of op-eds previewing the World Economic Forum in Davos, Switzerland. CoinDesk will be on the ground in Davos from Jan. 20–24 chronicling all things crypto at the annual gathering of the world’s economic and political elite. Follow along by subscribing to our pop-up newsletter, CoinDesk Confidential: Davos. Jill Carlson is a Principal on the investing team at Slow Ventures. The opinions below are her own. “Transactions are slow and costly.” “What is it backed by?” “Can we conduct anti–money laundering compliance?” “There are serious security flaws.”…

Japan’s Financial Watchdog to Set Low Leverage Cap for Crypto Margin Traders: Report

Japan's Financial Watchdog to Set Low Leverage Cap for Crypto Margin Traders: Report 8  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Japan’s top financial regulator plans to reduce the risk to cryptocurrency margin traders by cutting the permitted leverage to two times the deposit. The Financial Services Agency will impose the new rule in a revision to the Financial Instruments and Exchange Act expected in spring, Japan Times sources said in a report on Saturday. While the nation’s industry already follows a self-imposed rule setting a maximum of four-times leverage, the watchdog aims to halve that due to the volatility of the crypto markets, the article says. The 2x cap was…

SEC Produces Evidence That Telegram Kept Selling Tokens After $1.7B ICO

SEC Produces Evidence That Telegram Kept Selling Tokens After $1.7B ICO 9  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

At least two entities invoiced Telegram for commissions from selling the company’s tokens in the summer of 2018, months after the company’s initial coin offering (ICO), newly released documents show.  The U.S. Securities and Exchange Commission (SEC), which filed the documents Friday in its ongoing court case against Telegram, said the evidence of post-ICO sales undercuts the company’s argument that the offering was exempt from registration requirements. Investment fund Da Vinci Capital and another entity called Gem Limited requested commissions of $209,783 and $1.1 million, respectively, for “subsequent sales” of…

Nervos Network Will Hand Out $30M to Encourage Third-Party Development

Nervos Network Will Hand Out $30M to Encourage Third-Party Development 10  PASSIVE INCOME CRYPTO BITCOIN AND BLOCKCHAIN

Nervos Network has set up a $30 million public grant fund to sponsor external developers building on its blockchain infrastructure. Announced Thursday, the fund will pay developers in cash, rather than equity or tokens, and all submitted projects will be made public to source feedback from the broader community, Nervos researcher Kevin Wang told CoinDesk.  Individuals, teams and companies can begin submitting applications for improving the firm’s layer one blockchain Common Knowledge Base (CKB). “We hope applicants can help find ways to make our infrastructure more user-friendly,” Wang said. “We…