Kategorie: Crypto Business

The CEO of Binance has sued Bloomberg Businessweek in Hong Kong, accusing the outlet of defamation.

Changpeng Zhao, the CEO of Binance, the world’s largest cryptocurrency exchange, has revealed that he has filed a lawsuit against Bloomberg Businessweek in Hong Kong.

Bloomberg published an article using the title “Zhao Changpeng’s Ponzi Scheme,” and this enraged the founder of Binance.

CZ sued Bloomberg Businessweek’s Hong Kong publisher Modern Media Company Limited, on Monday, July 25th. Modern Media is an independent entity that licences Bloomberg content.

According to the filing, the Bloomberg Businessweek Chinese article alleged that the Binance CEO was operating a crypto Ponzi scheme. 

The documents also claimed that Modern Media published a report that “contained false, malicious and defamatory statements about Zhao and his company, Binance Holdings Limited.”

Bloomberg initially published an article on June 23 titled Can Crypto’s Richest Man Stand the Cold?” However, the Chinese edition published its version titled “Zhao Changpeng’s Ponzi Scheme.”

Last month, CZ commented on the issues, stating that 

“While most journalists at Bloomberg are good, but this time, it was bad. Bloomberg: hey, we will do a nice profile piece on you, invite you for photoshoots, etc. Then switches the story last minute. Ignore all positive comments they got from 3rd parties. Picked only old negatives. And still puts you on the cover. WTF!? Unprofessional.”

After filing the lawsuit, CZ tweeted that people should be accountable for their actions.

Be accountable for your actions.

— CZ 🔶 Binance (@cz_binance) July 25, 2022

The Binance CEO is also suing Bloomberg for using the Ponzi-referencing title in the Chinese edition of Bloomberg Businessweek’s social media accounts to promote the piece. 

The filings showed that the Chinese language article was also distributed in print around Hong Kong earlier this month. 

The Binance boss also filed a motion for discovery was also filed against Bloomberg in the United States for defamatory comments in the original article. The filing read;

“Surprisingly, the Original Article contained several serious and defamatory allegations made against Zhao and Binance that were completely unsubstantiated and were obviously designed to mislead readers into believing that Zhao and Binance have been engaging in illegal or unsavory activities.”

CZ wants to bar Bloomberg from republishing the statements in Hong Kong. The Binance boss also wants to see the removal and recalling of the statements while also paying for damages. 

The post Binance CEO sues Bloomberg Businessweek for alleged defamation appeared first on CoinJournal.

Bitcoin is trading near $21,900 while Ethereum has dipped below $1,520.

The crypto market was largely green over the past week, with gains for Bitcoin and Ethereum pushing the top two cryptocurrencies to prices above $24,000 and $1,600 respectively.

As of writing, BTC is holding around the $21,900 mark while ETH/USD has dipped slightly to trade near $1,515. Both are in the green over the weekly chart, with most of the altcoin market also showing signs of holding onto recent gains.

However, the market remains beleaguered despite forecasts of a bottom looking like it’s in amid recent deleveraging. 

And analysts are also watching the equities market ahead of this week’s US Federal Reserve meeting. Given, a dump in the stock market could see risk appetite across crypto fade, with potential downsides for BTC and ETH reflected across the broader altcoin market.

Pro says BTC, ETH could fall to support levels

Crypto analyst Rekt Capital said on Monday that it is possible the market could be heading lower after last week’s sharp bounce.

“After a strong week last week, the crypto market looks set for a minor pullback. BTC, ETH and many altcoins appear to be positioned for healthy dips, which could figure as key retests of previous resistances into new supports,” he tweeted.

After a strong week last week, the #Crypto market looks set for a minor pullback#BTC, $ETH and many Altcoins appear to be positioned for healthy dips which could figure as key retests of previous resistances into new supports$BTC #Bitcoin #Ethereum

— Rekt Capital (@rektcapital) July 25, 2022

Glassnode notes that although momentum looks favourable for Bitcoin after the upside above $20,000, the long term outlook suggests otherwise. According to the platform, bulls might have to bear some pressure before establishing a “firm foundation.”

#Bitcoin has attempted to escape the gravity of the $20k zone in a long awaited relief rally.

Momentum in the short term is favorable, however longer-term indicators suggest additional time may be required to form a firm foundation.

Read our analysis 👇https://t.co/Oi0IykvUNn

— glassnode (@glassnode) July 25, 2022

While analysts see $20k as a crucial support level for Bitcoin, Ethereum could dip to support in the $1.4-$1.3k zone.

The post Analyst: Bitcoin and Ethereum could lead crypto market’s ‘minor pullback’ appeared first on CoinJournal.

The three-year deal sponsorship deal will run from 2022 to 2024 and will have CryptoDATA Tech, which develops blockchain-based cybersecurity solutions for various clients, as the title sponsor for the Austrian Grand Prix.

Dorna Sports, the commercial rights holder of MotoGP, has sealed a multi-year sports partnership with Romanian crypto company Cryptodata Tech, the firms announced on Monday.

Per the companies, CryptoDATA will be the Austrian Grand Prix MotoGP title sponsor over the next three racing seasons – from 2022 to 2024. The blockchain security firm will also take the top billing at the upcoming Red Bull Ring-Spielberg Grand Prix, according to details in the press release.

The partnership will also see the Red Bull Ring – Spielberg Grand Prix renamed the CryptoDATA Motorrad Grand Prix von Österreich.

“We’re delighted to announce CryptoDATA as the title sponsor of the Austrian Grand Prix for the next three editions. MotoGP is grounded in innovation and invention, making this the perfect partnership. It’s fantastic to sign a three-event deal with CryptoDATA and we look forward to seeing them take top billing at the Red Bull Ring; one of the most spectacular backdrops on the calendar,” said Manel Arroyo, the Chief Commercial Officer at Dorna Sports. 

In a comment, CryptoDATA Tech co-founder and CEO Ovidiu Toma said the collaboration will help it show how blockchain technology initiatives can benefit the environment and the broader community, including on and off the track.

The partnership will result in great experiences for everyone, he added.

The 2022 CryptoDATA Motorrad Grand Prix von Österreich will take place from 19-21 August.

The post MotoGP signs sponsorship deal with Romania blockchain security firm CryptoDATA appeared first on CoinJournal.

As the adoption of blockchain technology and cryptocurrencies gathers momentum across various fields, decentralized autonomous organizations (DAOs) are becoming popular among different industries and companies. In particular, DAOs are proving to be well-suited for fields like science that suffer from the lack of sufficient funding because of poor market conditions.

In most cases, scientists have been forced to turn to centralized organizations like governments and banks when they need funding for their projects. However, these organizations are in most cases slow and very bureaucratic leading to long delays and at times the funds are never processed.

Besides funding problems, scientists are also forced to seek help or personnel resources from other professionals; something that could impact the quality of their research since the scientists are first forced to forsake their primary role of researching to look for the resources.

However, if scientists are to use a decentralized organization approach, they would not have to worry about competing for resources since everyone has a fair say in how the organization is run and every invention gets a fair share of the funding. One such DAO that has gained a lot of reputation among scientists is The Science DAO.

How The Science DAO works

The Science DAO is a decentralized think tank, incubator engine, and accelerator platform that drives funding for various science projects and inventions. It is a decentralized community comprising scientists, entrepreneurs, engineers, and other people who are interested in science.

Being a DAO, The Science DAO is run by its members; meaning it does not receive instructions from any centralized organization. As such, it is agile and its operations are responsive to the needs of the members.

It focuses on increasing the flow of resources to scientists working on cutting-edge projects revolving around natural science and computing, health and environment, and technology. It does so by connecting the innovators or scientists with investors who can provide them with the required resources to realize their projects.

Some of the projects that are currently being funded through The Science DAO include the development of new treatments like the use of nanotechnology to destroy cancer cells and the use of tailored treatments.

Funding projects through decentralized organizations

Given that most science projects are long-term and require a lot of money to actualize, decentralized organizations offer a more efficient funding solution.

With traditional funding methods, scientists waste a lot of time in the lengthy processes of applying for funding and also wait longer (months or years) to see if they shall get the funding or not. This results in a lot of time wastage which the scientists could use to work on their projects instead.

On the contrary, DAOs like The science DAO offer a faster and more efficient solution.

The Science DAO, which is the first of its kind platform to apply the DAO model in funding science projects, uses non-fungible tokens (NFTs) to distribute funds to innovators and scientists.

Each invention, development, or research project is divided into different parts and each part is represented by an NFT. These NFTs are then sold out to investors. For example, if a project can be divided into 2000 parts, it means it will have 2000 NFTs and if the NFTs are sold at $1000 per NFT, the project will be able to raise $2,000,000 by selling all the NFTs. This way, science projects can get funded without depending on traditional venture capital firms, banks, or the government.

If the company or project performs extremely well, the market value of the NFTs rise, and investors can sell them at a profit in the secondary markets.

However, every project that seeks to be funded on The Sconce DAO must first be vetted by the DAO’s community. This ensures that only the best legit projects are funded and also increases the likelihood of the projects being successful.

Conclusion

Although there are many areas that decentralization can benefit the field of science, funding is where decentralized science shines most. The funding process is more streamlined and fast allowing scientists to focus on their research instead of worrying about where the funds will come from.

Besides, with The Science DAO, investors are assured of investing only in the best projects since every project is vetted before being allowed to conduct funding on the platform.

Additionally, The Science DAO is advised by some of the best minds there is in the science industry. They include the likes of Mark Ashida (the former senior executive at Microsoft), John Aitchison, Ph.D. (the co-founder of the Center for Global Infectious Disease at Seattle Children’s Research Institute), Juan Carlos Jaume (Professor of Medicine and chief, Endocrinology, Diabetes and Metabolism at the University of Toledo), and Juan Carlos Jaume (Professor of Medicine and chief, Endocrinology, Diabetes, and Metabolism at the University of Toledo) among others.

The post The Science DAO: a streamlined and fast funding solution for science projects appeared first on CoinJournal.

The Series A funding round was led by Summit Partners, with participation from Castle Island Ventures, Digital Currency Group and Sky Vision Capital among others.

Halborn, a blockchain security startup based in Miami, has secured $90 million from investors in its series A funding round, Bloomberg reported on Tuesday.

The firm, whose core services include security advisory, advanced penetration testing and smart contracts audit, said the funding round was led by Summit Partners.

Other participants included Castle Island Ventures, Digital Currency Group, Third Prime, Sky Vision Capital, Fenwick and Brevan Howard.  The startup did not provide a valuation.

Security focus despite crypto winter

Halborn’s financing comes amid a crypto winter that has prices of Bitcoin and other cryptocurrencies battered and a market environment that has seen several companies crash due to contagion.

But while the outlook for many crypto companies hinges on the market trajectory, it’s almost business as usual for Halborn. According to the firm’s CEO Rob Behnke, focusing on cybersecurity has helped the startup stay buoyant as price “has nothing to do with [its] business.”

He noted that their main motivation is growth for the industry, with security critical as bad actors continue to search for vulnerabilities and ways to steal crypto.

The backdrop to this is an increased demand for cybersecurity services, Behnke added.

Halborn, which was founded in 2019, has grown its employee numbers to 100 and collaborates with top crypto companies including Coinbase and Solana on risk assessment and platform security.

The company also counts global tech giant Amazon, investment banking firm BNY Mellon and sportswear behemoth Nike among those it advises.

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