Cambridge Analytica, the disgraced data firm that guided the Trump campaign's digital strategy and sparked Facebook's latest troubles, reportedly wanted to branch out into shadier business: Digital currencies. According to a former Cambridge employee, the planned token was aimed at giving people more control over their personal data.
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Ian Balina, a popular cryptocurrency evangelist, was in the midst of a standard livestream on his YouTube channel on Sunday night when a viewer asked, "Ian, did you know that somebody transferred all your tokens from your account?" With $US2 million ($2.6 million) worth of cryptocurrency gone from his wallet, Balina claims he was hacked. But the strangeness of the situation has the community questioning his story.
Sohrab "Sam" Sharma and Robert Farkas were the operators of an initial coin offering that - according to a Securities and Exchange Commission complaint filed today in the District Court of Southern New York - fleeced investors out of more than $42 million though a business called Centra Tech Inc. What led to Farkas's arrest while trying to leave the country is almost too boneheaded to believe.
What have you done Kodak, what have you done? Earlier this month, the stalwart film company got into bed with the oh-so-tempting blockchain brigade, and its stock price dutifully shot up. With one day to go before its initial coin offering was scheduled, more details have emerged about this unholy marriage, and it's easy to believe that the reincarnated Kodak isn't long for this world.
You can pretty much set your watch to the latest tech trends by following the release of Bjork albums. Following her previous iPad app album, and various forays into VR, she's now apparently including a little bit of cryptocurrency for anyone who buys her new album. Let's hope the SEC doesn't have any issues with that.
The cryptocurrency market is having another rocky morning as South Korean authorities announced a ban on initial coin offerings (ICOs). While countries such as the US and the UK have warned investors to exercise caution before becoming involved with such projects, China has completely banned the fundraising method, and Taiwan could be next.
China recently banned initial coin offerings (ICO) and briefly paused the seemingly unstoppable price increase of bitcoin. But the cryptocurrency has already bounced back. With the likes of Paris Hilton, Kim Dotcom, and John McAfee all jumping into the ICO world in one way or another, it seems worth asking what the hell this whole thing is about.