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Going on the offense with a fresh filing on March 27, the lawyers representing Telegram claim that the preliminary injunction issued by Judge Kevin Castel only applies to US-based purchasers. They were reportedly only 39 participants who bought nearly 1 billion Grams when its $1.7 billion worth ICO raised $424.5 million from a group of US vetted investors.
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Ernst & Young, the trustee overseeing the bankruptcy case for the failed Canadian crypto exchange, will be turning over all of Quadriga’s user info and data to the country’s tax collector.
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The World Health Organization has partnered with major blockchain and tech companies to launch MiPasa, a DLT-based platform for sharing COVID-19 data to enable early detection of COVID-19 carriers and infection hotspots.
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Dai is minted by users taking on collateralized debt positions, where collateral is deposited in an Ethereum smart-contract, with a percentage of the asset’s value being paid out in Dai. The collateral then gets released once the tokens are repaid, and the Dai are destroyed. Loans that can’t be supported by their collateral are placed into liquidation proceedings, in which the collateral is auctioned for Dai to repay the debt. But the price drop allowed bidders to win liquidation auctions for 0 DAI — further worsening Maker’s crisis.
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A number of crypto firms, including Ripple, Coinbase and Binance, have been granted an exemption from holding a license under the Payment Services Act for digital payment token services until July 28, 2020.
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“Many [stablecoin] white papers are obfuscated with jargon—terms left undefined and used inconsistently across other projects and the financial literature. In other cases, system components appear to be mislabeled. For example, a component that clearly meets the definition of a security or a derivative might instead be labeled a bond or a loan. “
Kiffmeister’s Fintech Daily Digest 03/28/2020
