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Buterin Convinces South Korean Lawmakers To Deregulate The Blockchain Industry

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The co-founder of Ethereum, Vitalik Buterin had a meet and greet with a group of South Korean lawmakers where they discussed blockchain technology. According to the latest cryptocurrency news, Buterin urged them to deregulate the industry since the current legislation is too restrictive and will heavily influence on innovation.

Buterin noted:

 “Blockchain is a technology that can be run without cryptocurrencies, but there is no crypto without blockchain. Public blockchains rely heavily on cryptography. Therefore, cryptocurrencies are absolutely necessary.”

Vitalik explained his stance on the topic ‘’blockchain, not bitcoin’’ which is the main stance of the South Korean government. The government officials tried to promote blockchain but at the same time, they undermined cryptocurrencies and decided to put a ban on ICOs.

Buterin explained that crypto and blockchain are too heavily connected and cannot be separated. He also said that ICOs are getting their image back after the many scams that happened over the years:

 “ICOs have certainly improved, and will continue to improve in the future.”

Moreover, the co-founder of Ethereum addressed that the Crypto Winter was actually a good thing for the industry because it scared away all of the con artists and saw which projects are here to stay:

 “The recent crypto scandals and market recession have [uncovered which projects] turned out to be scams and which projects are going to be sustainable.”

This stance comes by the Reddit founder Alexis Ohanian who was an early investor in Coinbase. Ohanian stated that Bitcoin investors should not be afraid and discouraged by the bear market because the purge is a good thing for the long-term health of the industry.

The South Korean government and its President Moon Jae-in, decided to ban ICOs due to the many scams. The harsh legislative regarding digital currencies have created a negative sentiment on the market because of the growing crypto community which seems to be increasing despite the harsh regulations.

In the meantime, the United States lawmakers are trying to make their governments ready to embrace blockchain and crypto because the innovative nature of the technologies can boost the economy.

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Blockchain News

Serena Williams Gold Medals Winner Invested In Crypto Exchange Coinbase

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Serena Williams
Serena Williams, world-renowned tennis players posted on Instagram that her investment business quietly invested in Coinbase. In our coming altcoin news below, we read more on this topic. Back in 2014, Serena Williams launched her Serena Ventures investment business and invested in about thirty companies one of them being the crypto exchange giant Coinbase. On the Instagram post, she revealed her decision. According to the investment company website, the market cap of the portfolio reaches more than $12 billion. The website of the company also points out that the fund is mostly meant for early-stage companies and startups. It also encourages partnerships and collaboration between other companies but also expands the opportunities. The tennis legend Serena Williams revealed a lot of details about her company. In her post that she wrote to more than 10 million followers, she explained that she has been silently piling up the portfolio by investing in multiple companies over the years. She noted:
 “In 2014, (yes I know I can keep a secret) I launched Serena Ventures with the mission of giving opportunities to founders across an array of industries. Serena Ventures invests in companies that embrace diverse leadership, individual empowerment, creativity and opportunity.”
The crypto exchange giant Coinbase gladly accepts this investment by Serena Williams and thus becomes a part of the 30 different companies in the portfolio. The San-Francisco based startup is currently the largest exchange in the United States. The CEO of the company Brian Armstrong, the exchange is still going to expand after it launched trading services in 11 countries last week. Serena Williams, on the other hand, has won four gold medals at the Olympics. She was later named the Number 1 tennis player according to the Women’s Tennis Association on eight different occasions. Also, her net worth was estimated as the best cryptocurrency news sites write at about $180 million. The world’s best female tennis player, Serena Williams with middle name Jameka, earned more than $29 million in prize money. This makes her the highest paid female athlete. She was also named in the Forbes 100 highest paid athletes in 2017. Back in 2015, she also won the Laureus Sportswoman of the Year award up until 2018.
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MakerDAO Voters Decide Whether To Raise The Stability Fee Of DAI

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MakerDAO Voters
MakerDAO voters, or better yet stablecoin holders, are about to decide whether to increase the stability fee of the Maker’s ethereum based decentralized stablecoin-DAI. In the latest cryptocurrency news, the voters decide whether to accept the 3 percent increase that started on the Decentralized Autonomous Organization (DAO) governance portal. The autonomous organization with is behind the issuance of the USD-pegged DAI decentralized stablecoin, aims to improve the peg of the token by increasing the stability fee yearly. This fee is basically a charge proposed by the MakerDAO voters (participants) when the DAI is used to get a loan. Back in March as reported in the headlines of the best cryptocurrency news sites, MakerDAO voters decided to raise the stability fee twice. It was first increased up to 3.5 percent and later to 7.5 percent a year. Also, the previous week, the fee was increased even more by more than 4 percent in the fifth vote this year. This means that there is an increase of 11.5 percent where it is standing still. If the increase goes on again, the fee will be increased yet again by up to 15.5 percent. The proposal for the fee increase outlines that there is a need for this increase at least according to some of the MakerDAO voters. The decision has been long discussed during the governance call back on April 18th. There has been a video uploaded since to YouTube. The community answered with a really mixed response in the comment section of the YouTube video but also to the announcement of the vote published on Reddit. Some of the MakerDAO voters expressed concerns that this kind of frequent change of the stability fee will turn the system in a short-term leverage system. The dangers also mean that the decision-making process will become unpredictable. Other users also believe that the increase in the stability fee won’t improve the peg and that the system is not really working. As previously reported by DC Forecasts, MakeDAO voters voted ‘Yes’ on the proposal which asks them to increase the stability fee by 4%. When it comes to the actual reasons for this increase, the main ones as seen in the post are that the DAI exchange persists under one dollar, that there are high inventory levels among market makers and prop desk, as well as the insufficient impact from the previous fee increase.
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Vietnamese Blockchain Startup Utop Gets $3 Million From FPT Corporation & SBI Holdings

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vietnamese blockchain startup
The major technology company FPT Corporation and the prominent financial services provider SBI Holdings are one of the names featured in the latest cryptocurrency news on our website, because of their $3 billion investment in a Vietnamese blockchain startup named Utop. According to news coming from the local English language daily news outlet Viet Nam News reported on April 19, both FPT Corporation and SBI Holdings Inc. have signed a memorandum of understanding (MoU) to invest the $3 million in the Vietnamese blockchain startup Utop. What the Utop startup brings to the table is a revolutionary technology that would allow users to gain and redeem loyalty points at merchants within the same network. As the news show, the project will purportedly enable small businesses registered on the network by reducing their costs and securing data through the akaChain platform. As the chairman of FPT Truong Gia Binh said when asked about their investment in the Vietnamese blockchain startup:
“The development of Industry 4.0 technologies has created breakthrough opportunities for businesses, mushrooming so many innovative business models. We call it digital transformation.”
As featured on many best cryptocurrency news sites so far, SBI has managed in a number of ventures in the cryptocurrency sector such as its own exchange Vctrade alongside a series of investments in many businesses related to cryptocurrency infrastructures and services. Last October, for example, SBI partnered with Ripple's XRP powered payments app, MoneyTap, showing up in the altcoin news section and going live with the system whch helps account holders at selected Japanese banks. At the time, the app was designed to include a consortium of 61 institutions including more than 80% of all Japan's banking assets in a single service. Right now, the company has a massive interest in the Vietnamese blockchain startup Utop and is looking forward to the development of its infrastructure. Previously, the company's general director Ngo Vinh Quy talked about blockchain (during the partnership with the largest telecommunications operator in the country, Viettel Group) stating:
“Blockchain is an unlimited ecosystem. The most difficult task for Viettel is choosing the most effective blockchain technology that can be applied in daily life."
 
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QuadrigaCX Chief Executive Feared For His Life According To A Close Friend

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quadrigacx chief executive
QuadrigaCX Chief Executive Gerald Cotten allegedly feared for his life because of the massive amounts of funds he controlled. According to the latest information that comes in our altcoin news, a former friend and colleague claims that Cotten was under a lot of pressure. Adam O’Brien, an entrepreneur and a close friend to the QuadrigaCX Chief Executive, explained that Cotten worried that he might end up being kidnapped because of the crypto assets holdings since they reached a sum of millions of dollars that only he had access to, according to the statement in the Global News:
‘’Gerry was holding, we know, over $100 million, almost $200 million dollars in funds. That makes people do some pretty crazy things. And I think Gerry was aware of that, and I think he was kind of worried that something might happen.’’
O’Brien also outlined that the only way to access the funds is if Cotten had already set up multiple contingency measures. He stated that the QuadrigaCX Chief executive should create a backup system in case anything goes wrong. This information can be hopeful for some users of the exchange but everything could be lost if there isn’t a backup system built. When he described Cotten, O’Brien noted that the QuadrigaCX chief executive was a super smart man but that ‘’ a dead man’s switch would be something that Gerry would have had to set up before he passed away.’’ Usually, this kind of a ‘’switch’’ is activated over a long time of inactivity. Some believe that the dead man’s trigger services could send an email to all of the users in a specified period over a month or two. The user is then expected to respond to the emails by clicking a link. However, if the user does not click the link, the trigger is activated instantly or over a grace period. Activation involves sending emails with specific instructions. This is what O’Brien believes that the QuadrigaCX chief executive has already done. As we mentioned previously in the latest cryptocurrency news, the QuadrigaCX chief executive Gerald Cotten died in India after a complication from Crohn’s disease. The funds cannot be accessed still.
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