1. Crypto Capital Linked to Backpage
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Sex-trafficking bust exposes financial records
What you need to know
Bitfinex's shady Panamanian "bank" Crypto Capital—which was used by Binance, Kraken and BitMEX in the past—is in a lot of trouble. But how did it get here? Well, we dug deep and found its accounts were seized in the March, 2018 bust of sex-trafficking site Backpage. And that, in turn, started tumbling the dominoes throughout the nascent industry.
Why it's important
Crypto Capital is turning into one of the more scandalous operations in crypto history. Many reputable companies relied on it, which raises alarming questions for the industry. From using shell corporations to open bank accounts, to not being a registered financial institution, this company is in hot water. Its founders have already been charged. But how much further will it go—and who will it bring down?
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2. Roger Ver to Fight Craig Wright Lawsuit
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Ver: "I'm not afraid"
What you need to know
Roger Ver organized an impromptu Bitcoin Cash meetup in London Thursday night—and was served with one of Craig Wright's increasingly familiar libel lawsuits. Decrypt happened to be there.
Why it's important
Ver vowed to fight the claims, telling us he was not afraid, and only mildly annoyed that he would have to spend money to defend himself. He repeated his claims against Wright, who has been suing people that ridicule him for insisting he is Satoshi Nakamoto, the inventor of bitcoin, While these lawsuits will likely settle the question of whether Wright is Satoshi, the cryptosphere generally views his lawsuits as frivolous harassment. Some exchanges have already delisted Wright's Bitcoin SV in protect
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From the interweb
Here are the biggest stories in the cryptoverse:
- Facebook is building a crypto ecosystem around its upcoming stablecoin.
- Microsoft and JP Morgan are now working to push enterprise blockchains.
- The code required for Ethereum to move to proof-of-stake could be ready by June.
- New gambling game on Monero has pushed its daily transactions to a new all-time high.
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3. Binance Charity: The Verdict
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We find out if it really is a success
What you need to know
Binance Charity hit the news when it emerged (by the soon-to-close Breakermag) its new head Helen Hai used to run a factory where workers earned less than $50 a month. Despite this, Binance vowed to bring transaparency to charity and go where no Oxfam worker has gone before.
Why it's important
Turns out, it's actually working. Apart from a few teething problems, donations are finding their way directly to those who need it. And those receiving the funds are saying it has made a big, big difference. Maybe crypto isn't all about shady Panamanian banks and lawsuits.
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Come to Ethereal Summit New York!
Meet the biggest names in blockchain
Known as the "SXSW" of blockchain, Ethereal Summit returns to New York on May 10-11 to showcase the latest blockchain developments. Mike Novogratz, Anthony Pompliana and Laura Shin will be there. If you want to attent, make sure to use our discount code, "DECRYPT20ES" and don't forget to pay in crypto!
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