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

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

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, 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

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.

Mitchell Moos @MitchellMoos

Breaking: FinCEN released new guidelines on who in #crypto qualifies as money transmitters (MSB) and are required to comply with more stringent regulations. MSB Y/N (*with exceptions): Privacy coins-Y ICOs-N DEXs-N* Mixers-Y @LocalBitcoins users-Y

May 9th 2019

3 Likes

Bitfinex premiums are down 50 percent from last week.

Crypto Bobby @crypto_bobby

Bitfinex premium down 50% from recent peak according to data from Sir Loom

loomdart @loomdart

hey @bitfinexed if the people paying you to tweet ever stop, just hit me up I'll gladly fund you pal you've been a free money printer for so long I feel like I owe you https://t.co/8iaLrEMPWA

May 9th 2019

2 Retweets12 Likes

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

Udi Wertheimer @udiWertheimer

1/ Waking up to see that @cz_binance suggested rolling bitcoin back (in the next few days lol!!) to recover his lost funds. He now wants to put this bad idea to sleep, but I won’t. Here’s a thread. Read it, because it’s *your* job to defend bitcoin from this crap

May 8th 2019

305 Retweets884 Likes

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

Coinome @CoinomeOfficial

All crypto markets on Coinome will be suspended, effective 2pm on May 15th, 2019. Customers are requested to withdraw all their crypto assets from Coinome at the earliest.

May 9th 2019

7 Retweets10 Likes

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

Nick Addison @naddison

The first cut of my Scratch 3.0 extension for Ethereum integration is out. This allows kids to build apps (mostly games) on top of Ethereum github.com/naddison36/eth…

May 8th 2019

83 Retweets245 Likes

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

May 9th 2019

15 Retweets27 Likes

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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.