Binance Expanding to Jersey, Hotmail Founder Shouts Fraud at Crypto & KevCoin The Movie
A downturn for the cryptocurrency markets overnight sees the global cryptocurrency market cap down $22 billion to $279 billion, Bitcoin fell $318 to $6536 and Ethereum dropped by $54 to $478. Whilst many major news outlets are still touting the Coinrail exchange hack as the main cause behind the latest market downturns, as yet not one journalist has been able to actually substantiate the claims.
Binance have reached an agreement with Digital Jersey, signing a memorandum of understanding under which Binance will be tasked with developing a compliance base and cryptocurrency exchange whilst Digital Jersey will be responsible for training, support, regulatory compliance/requirements/licensing and creating banking relationships. Binance CEO, Changpeng Zhao, said, “We have chosen Jersey to be the next big step in our global expansion strategy for its clear and pro-crypto investment and regulatory environment. With its local economy based on a major currency (GBP), and its close proximity to the UK and Western Europe, we are confident the cooperation with Jersey will not only benefit the local economy, but also form a strong operational foundation for our expansion into the rest of Europe.”
FUD of the day goes to the original founder of Hotmail, Sabeer Bhatia after his apparent declaration that “cryptocurrencies are fraudulent” in an interview with Arabian Business. Interestingly, the entrepreneur uses IOTA in an attempt to illustrate his point stating, “There is a token called IOTA, which is based on the Internet-of-Things. But they haven’t sold a single device to anyone. The whole idea is: ‘In the future, one IoT device will be able to talk to another IoT device and settle any financial transaction between them using blockchain. That’s the idea. And although it’s never been implemented, the idea is worth $15bn? Really? The values are entirely speculative”. Digging a little deeper into what else Bhatia is working on we find an interview with Alarabia back in March this year in which he talks about the sale of Hotmail to Microsoft at the height of the dot com boom for $400 million which saw him sell the free email platform that had little physical value as such at the time other than it’s userbase. Toward the end of the interview Bhatia is asked about his “next big ideas” to which he responds “There are two big things that I’m doing right now. One is using the internet of things (IOT) to make a meaningful difference in the lives of people. One specific vertical area we’ve identified is agriculture” Perhaps on researching the sector Mr Bhatia has realised he might just be a little late to the IOT party and finding someone beat him to it?
KevCoin: The Movie is the latest film offering to be released later this month. The comedy mockumentary based in Peckham, London was shot over 35 days which sees the lead character Kevin Powder create his own cryptocurrency “KevCoin”. The film will be released through the movie’s Facebook page at $5 to stream or download and own with purchasers also receiving 5000 KevCoins as a bonus. A short trailer of what to expect below:
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Created: Wednesday, June 13, 2018
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