Recap | Bitfinex users unable to withdraw funds | Taproot, the new update that will revolutionize the Bitcoin | OneCoin sued by former investor | EOS votes to burn $167 million in tokens

Welcome to CryptoSlate Recap, our daily, free newsletter containing links to some of the top blockchain stories on CryptoSlate and across the web.


Bitfinex users unable to withdraw funds, $430 million drained from exchange cold wallets

Bitfinex users unable to withdraw funds, $430 million drained from exchange cold wallets

An ongoing investigation into iFinex Inc. seems to have caused an exodus of traders out of Bitfinex. An increasing number of users report issues with withdrawing funds from the platform. Moreover, approximately $430 million worth of Bitcoin and Ethereum have exited the exchange’s cold wallets.

5 min read →


Taproot, the new update that will revolutionize the Bitcoin blockchain

Taproot, the new update that will revolutionize the Bitcoin blockchain

One of the most anticipated updates to Bitcoin’s scripting capabilities, Taproot, could soon see a roll-out on the Bitcoin network. First proposed in 2018, the update would expand the network’s smart contract flexibility and offer unprecedented privacy, enabling even the most complex smart contracts to be virtually indistinguishable from regular transactions.

5 min read →


OneCoin sued by former investor over multi-billion dollar fraud

OneCoin sued by former investor over multi-billion dollar fraud

OneCoin, a controversial cryptocurrency issuer accused of running a $4 billion pyramid scheme, has been sued by a former investor over her losses. A request was also made for class-action status to be granted for the suit to include other plaintiffs who say they were scammed.

2 min read →


EOS votes to burn $167 million in tokens in preparation for drastically reducing inflation

EOS votes to burn $167 million in tokens in preparation for drastically reducing inflation

Over 34 million EOS worth $167 million was permanently removed from circulation. The move is part of an initiative to drastically lower the inflation rate on the protocol from 5 to 1 percent. On July 31, 2018, 15 or more of EOS’s 21 block producers passed an initiative to burn $167 million EOS sitting idle […]

2 min read →


ICYMI

🤬 Facebook reverses ban on cryptocurrency ads

🙄 Binance faces criticism for considering rollback of the Bitcoin blockchain

💸 Exploring Bitfinex’s emergency plan: a $1 billion initial exchange offering

💎 Casper proof-of-stake Ethereum live on the Prysm testnet

☄️ Cardano gains marketing momentum following internal restructuring


What else?

FinCEN released new crypto guidelines.


Bitfinex premiums are down 50 percent from last week.


Udi Wertheimer explains why the Bitcoin rollback suggestion was a bad idea.


Indian exchange Coinome is going to suspend operations on May 15.


A new app is out that will let kids build games on Ethereum.


A $1 billion financing facility will take place on the Provenance blockchain.

AskFigure@AskFigure
Together with @Jefferies and @WSFS, we’re excited to announce a $1 billion financing facility on
Provenance.io blockchain. This paves the way for the first securitization on chain and supports end-to-end financing of loans. Learn more: bit.ly/2Ww4WyE

Featured blockchain companies

Thanks to the following companies for their support:

🚀 OpenCrowd - a design and technology firm creating custom blockchain business solutions for global clients and early startups

⚡️ Blockstation - a leading Canadian FinTech company founded in 2014, provides one of the first digital asset trading solutions for stock exchanges.

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Disclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to content within this article.