Ethereum Co-Founder Joseph Lubin: Blockchain Can Benefit Artists, Journalists
Ethereum co-founder and ConsenSys creator Joseph Lubin said that blockchain technology and decentralization can benefit content creators and journalists. Lubin spoke about different industries that are benefitting from blockchain technology in a video on March 12.
Lubin continued that, while there will still be intermediaries such as promoters, they will not be able to “get to a commanding position where they’re extracting enormous rents just because of their intermediary role.”
Crypto Mogul Moshe Hogeg’s ICOs Have Unusual Patterns, Analysis Finds
Best-known internationally as the chief executive of the blockchain smartphone startup Sirin Labs, Moshe Hogeg is becoming known for something else in Israel – mounting lawsuits.
As reported extensively by regional news outlets, a lawsuit filed in January claims Hogeg misappropriated funds from the sale of new cryptocurrencies for both his own gain and to benefit his investment portfolio, including Sirin Labs. The judge has reportedly given Hogeg until March 15 to settle with the plaintiff, Chinese investor Zhewen Hu.
This follows an earlier case involving Hogeg’s company Invest.com that has since been settled.
Specifically, in the case of the ICO for the startup Stox, a company co-founded by Hogeg and endorsed by boxer Floyd Mayweather (resulting in a fine from the SEC), the lawsuit claims Hogeg inappropriately withdrew proceeds from its $35 million ICO and used the funds for other projects, including Sirin Labs, his VC firm Singulariteam and the blockchain startup Orbs.
The Stox lawsuit, which focuses on several sections of the startup’s white paper, alleges Hogeg encouraged people to invest in the Stox ICO by touting a partnership with his own firm, Invest.com, having effectively “made a contract with himself” to inflate interest in the offering. It also says Hogeg presented himself on Telegram as a mere investor rather than a leader of the project, giving the illusion of more participants.
IBM Quietly Enters Crypto Custody Market With Tech Designed for Banks
IBM is coming to the crypto custody space.
Later this month, Shuttle Holdings, a New York investment firm, will launch the beta version of a custody solution for digital assets built on IBM’s private cloud and encryption technologies. The companies won’t be storing cryptocurrencies and tokens themselves, but offering tools for others to do so.
Potential users include banks, brokers, custodians, funds, family offices and high net worth investors who want to do self-custody, as well as exchanges, Brad Chun, Shuttle’s chief investment officer, told CoinDesk.
“We have a list of selected clients that we are launching limited service with this month,” Chun said. The service is “not open to the public yet and there is a wait list to get into our beta.”
IBM showcased the solution at its “Think 2019” conference last month in San Francisco, where Nataraj Nagaratnam, the tech giant’s CTO and director of cloud security, called storage of crypto a prime use case for Big Blue’s cloud.
“What better example than taking a financial technology that is changing the world. Look at digital assets; how do you secure the data? … [This is] top of mind for a lot of people in the financial industry,” Nagaratnam said, before welcoming Chun onstage.