Crypto Currency

Cryptocurrency Firms Renew Push to Break Free From SEC Rules

Gregory Barber covers cryptocurrency, blockchain, and artificial intelligence for WIRED.On Tuesday, Kik announced a crowdfunding effort to help it fight the SEC over the company’s 2017 initial coin offering, in which it sold nearly $100 million worth of a token it called kin. The company says it sold a currency that could be used across…

Gregory Barber covers cryptocurrency, blockchain, and artificial intelligence for WIRED.

On Tuesday, Kik announced a crowdfunding effort to help it fight the SEC over the company’s 2017 initial coin offering, in which it sold nearly $100 million worth of a token it called kin. The company says it sold a currency that could be used across a network of apps, whether to get paid for taking surveys or to buy new stickers and themes. The SEC disagrees, arguing in a proposed action last November that kin are securities—investments subject to strict rules about how they can be sold.

Kik’s fight has drawn interest from major investors and cryptocurrency exchanges such as Circle, that are hoping for changes in how tokens are regulated. By drawing the SEC into a legal battle, Kik and its backers are hoping the courts will devise rules that would impact a wide array of crypto companies. The catch? The SEC hasn’t taken any action yet, and it’s unclear if it will.

Kik’s ICO was one of thousands that occurred during and after the 2017 crypto boom—many of which turned out to be shady affairs with no intention of following through on their promises. The SEC has since gone after the obvious fraudsters, but the status of more legitimate coins, like kin, is less clear. SEC chairman Jay Clayton has indicated such coins are securities, but the agency has thus far taken a more tentative approach, meeting with companies for more than a year to tease out how coins are being used and what promises were made to buyers.

The result, says Kik CEO Ted Livingston, is a “divide-and-conquer” strategy on the part of the SEC, where companies are individually guided into settlements. “This is happening behind the scenes for every project that did an ICO,” he says. He adds that Kik has already spent $5 million on SEC negotiations.

Kik took its f

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Crypto Currency

Learn how to invest in cryptocurrencies with this set of online classes

TL;DR: The Complete Cryptocurrency Investment bundle is on sale for £19.21 as of June 25, saving you 94% on list price. If we’re to believe every plot point from the movie The Social Network, Mark Zuckerberg allegedly stole the idea for Facebook from the Winklevoss twins and went on to become one of the youngest…

TL;DR: The Complete Cryptocurrency Investment bundle is on sale for £19.21 as of June 25, saving you 94% on list price.


If we’re to believe every plot point from the movie The Social Network, Mark Zuckerberg allegedly stole the idea for Facebook from the Winklevoss twins and went on to become one of the youngest billionaires ever. 

Things ended up working out for the Winklevoss brothers, though. They received a $65 million settlement and competed in the 2008 Beijing Olympics, but they still weren’t a member of the prestigious billionaire club. That changed when they finally became billionaires thanks to Bitcoin. 

For the uninitiated, Bitcoin is a digital payment system and cryptocurrency that’s not tied to any country or bank. Bitcoin sometimes gets a bad rap for being associated with criminals and the dark web, but there are many advantages to using a decentralised system.

Even if you don’t have a $65 million to invest, you can still learn how to make mone

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Crypto Currency

Forget PS5: A Fake Spoof Console is Embarrassing the Xbox Series X

KFC Gamings reveal of a new, next-generation console generates more views on social media than the Xbox Series X.The console reveal, a joke response to the PS5 reveal event, has doub…

  • KFC Gamings reveal of a new, next-generation console generates more views on social media than the Xbox Series X.
  • The console reveal, a joke response to the PS5 reveal event, has doub…
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Crypto Currency

Someone paid $2.6 million in fees to move $134 worth of crypto and oops

There are typos, and then there are typos.  Someone appears to have made a mistake this morning when transferring the cryptocurrency ether (ETH), the younger sibling to bitcoin, from one digital wallet to another. After all, when moving around $134 dollars worth of digital currency, it hardly seems like anyone would intentionally pay a $2.6…

There are typos, and then there are typos

Someone appears to have made a mistake this morning when transferring the cryptocurrency ether (ETH), the younger sibling to bitcoin, from one digital wallet to another. After all, when moving around $134 dollars worth of digital currency, it hardly seems like anyone would intentionally pay a $2.6 million fee — and yet that’s exactly what happened. 

That’s right. Someone paid 10,668.73185 ETH, worth approximately $2.6 million at the time, to move 0.55 ETH from one wallet to another. The transaction, in all its painful glory, is visible on Etherscan — a tool for viewing and searching ETH transactions. 

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Crypto Currency

Hartley Sawyer Fired For Racist Tweets – You’re Next, Ellen Degeneres

Hartley Sawyer of The Flash has just been fired after his racist, misogynistic tweets surface.Hes far from the only celebrity with racist social media posts in the past.Its …

  • Hartley Sawyer of The Flash has just been fired after his racist, misogynistic tweets surface.
  • Hes far from the only celebrity with racist social media posts in the past.
  • Its …
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