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
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.
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.
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.
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 […]
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.
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