Here are the top cryptocurrency stories of the week: 1. Facebook Acquires Its First Blockchain Company Social media giant Facebook acquired its first blockchain company: Chainspace. Interestingly, Facebook did not buy any of the startup's technology. In what is called an "acquihire," Facebook hired 4 of Chainspace's researchers, apparently in an effort to enhance the company's in-house blockchain abilities. 2. Mt. Gox Trustee Sells Digital Assets According to information that was leaked to the media, the trustee of the infamous Mt. Gox exchange has sold in excess of $300 million worth of digital assets, which included both Bitcoin and Bitcoin Cash. Nobuaki Kobayashi, who is the Mt. Gox trustee, reportedly sold the currency on the BitPoint trading platform. He made the sale in order to pay the exchange's creditors. 3. Venezuela's Cryptocurrency Law Comes into Effect At the start of February, a law in Venezuela that establishes the regulation of digital currencies there came into the effect. In addition to creating a set of nationwide rules concerning the currencies, it set up a government watchdog that will oversee all activity relating to cryptocurrencies. Amid the ongoing political crisis in the country, the volume of Bitcoin trading there this week set a record. 4. Canadian Government Investigates QuadrigaCX The Ontario Securities Commission is investigating QuadrigaCX, which is a large Canadian digital currency exchange that has found itself in chaos since the death of the exchange's owner Gerald Cotten in December. None of the exchange's 115,000 clients have access to their accounts as Cotten reportedly kept all of the exchange's digital assets on an encrypted laptop. The exchange has since filed for creditor protection and the company's attorneys are contemplating selling the company. 5. BitTorrent Tokens Sell Out in Less Than 15 Minutes The sale of BitTorrent tokens raised more than $7 million and was sold out in less than 15 minutes. The token is based on a Tron TRC-10 token and 50 billion of them were sold on Binance's LaunchPad platform during two simultaneously run trading sessions. The purpose of the token is to facilitate computing resources for torrent transactions.
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