Joseph Lubin and Vitalik Buterin, the founders of Ethereum and ConsenSys, have each donated 1,000 Ether (ETH) to the Moloch decentralized autonomous organization this month (DAO). After this major donation, the DAO total funds are now up to $1 million. This information comes directly from a correspondent who attended…
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99Crypto
Congressional Task Force on Financial Technology Created to Regulate Cryptocurrencies
On May 9, the Financial Services Committee of the U.S. House of Representative passed a resolution that will establish something that it calls the Task Force on Financial Technology. According to the text of the resolution, the task force will review the current legal framework for fintech in the…
Saudi Oil Giant Makes $6 Million Blockchain Technology Investment
On May 8, it was announced that Data Gumbo Corp., which is a blockchain startup based in the United States, had secured $6 million in investment capital from a host of energy-related companies. These companies include Saudi Aramco Energy Ventures, which is a venture capital subsidiary of a Saudi Arabian…
Leading Cryptocurrency Exchange Breached by Hackers in Brazen Heist
On May 7, it was reported that hackers had breached Binance, which is one of the world's leading digital currency exchanges. According to Binance, the hackers used a variety of techniques to breach security. These techniques included the use of viruses and phishing tactics, which exposed a large…
Moscow Is Setting Up a Blockchain System for University Voting
On May 6, it was reported that the Russian capital city of Moscow was developing a blockchain-based voting system for student council elections at universities. The system will be put into use late next month, and the methodologies developed may afterward be applied to Moscow's upcoming mayoral election.…
These Are the Week's Top News Stories for Digital Coins
Here are the top cryptocurrency stories of the week: Tether's Lawyers Say that the Stablecoin Is Only Partially Backed by Dollars Lawyers representing the dollar-denominated stablecoin Tether released a set of documents that indicated that the stablecoin was only 74% backed by U.S. dollars. This runs counter…