Coinbase Releases Mission Protocol to Help Other Companies Adopt Similar Approach

A San Francisco-based cryptocurrency exchange saw several of its employees taking the severance packages and leaving the company after Coinbase clamped down on talking politics and activism at work.

It wants to help other companies set a similar apolitical mission, and for this, it has released a Mission Protocol Code of Conduct.

According to Coinbase, mission focus means being political about only the mission and putting aside those out of the project’s scope.

“Projects and organizations are full of diverse opinions, individuals, and areas of engagement. However, what brings everyone together is the pursuit of a goal that is bigger than any single individual. The whole is greater than the sum of its parts.”

Coinbase has released its v1.0 version Creative Commons Attribution 4.0 International Public License and welcomes anyone to adopt its Mission Protocol by adding a copy of it to the company’s source code repository.

As per the official website, it is open to working with companies to set their mission and help ensure that a company is “on the right track to producing social good through its mission.”

Also Read: Coinbase Turned Over Info on 1,914 Users; 96.6% Were Criminal-based Law Enforcement Requests

Read Original/a>
Author: AnTy

Ripple Looks For Options In Europe & Asia As the US Lags Behind In Clear Crypto Laws

  • Ripple Inc. could be leaving the United States, Executive Chairman at the company, Chris Larsen, stated on Tuesday.
  • The digital payments firm is looking for options to relocate, including Singapore, Japan, the U.K, or a friendlier country to crypto as the U.S. struggles with regulation policies in the field.

In an interview with Fortune Magazine’s Jeff John Roberts during the online LA Blockchain Summit on October 6th, Ripple Inc.’s executive chairman and founder, Chris Larsen, spoke of possible relocation. The U.S. to “crypto-friendlier nations.” As one of the largest crypto firms in the country, Ripple feels undone by the lack of regulation or policies in place and is looking at options in Europe and Asia.

Over the past few years, the payments firm has faced increased scrutiny from U.S. government authorities, especially the Securities Exchange Commission (SEC). The securities authority has, in the past, raised claims that XRP is a security claiming Ripple should apply for a securities license – a claim Ripple has vehemently denied.

While the pursuit from the SEC could be welcome, a lack of regulation or laws governing crypto payments or blockchain innovation is key in Ripple’s decision to move from the U.S. Speaking on the issue, Larsen said,

“The message is blockchain, and digital currencies are not welcome in the U.S. You want to be in this business, you probably should be going somewhere else. To be honest with you, we’re even looking at relocating our headquarters to a much more-friendly jurisdiction.”

Larsen also said that while the move from the U.S would not completely overrule jurisdiction from the authorities, Ripple would “feel relief” to have another country be the company’s chief regulator. Circle did just this last year.

The move has raised support from some of the top cryptocurrency influencers, including TechCrunch, Crunch Base, and XRP Capital founder, Michael Arrington, who tweeted the lack of crypto regulation in the U.S. a “disaster.” Supporting the tweet, Ripple CEO, Brad Garlinghouse, wrote,

”Strongest internet companies built in the US, in part b/c of regulatory clarity. We have that opposite with blockchain + digital assets. Responsible players like Ripple aren’t looking to avoid rules; we want to operate in a jurisdiction where the rules are clear.”

Read Original/a>
Author: Lujan Odera

YFI’s Andre Cronje isn’t Going Anywhere; ‘This Space Won’t Get Rid of Me’

Andre Cronje, the guy behind yEarn and the popular YFI, is not leaving the cryptocurrency space any time soon, at least, “until there is nothing left to build.”

“This space won’t get rid of me,” Cronje clarified on Twitter after his recent interview about quitting crashed the price of YFI about 22%.

On August 7th, YFI, the “valueless, zero supply token” surged to its all-time high of almost $5,300, only to fall to $3,755 today after Cronje’s interview with a crypto publication where he talked about being “close to rage quitting again,” because he is “so sick and tired of this space.”

But since then, the price has rebounded 23%, as per CoinGecko.

Cronje took to Twitter today to thank the community for their “amazing responses” and that one shouldn’t talk to reporters when one is angry and just before one is going to sleep.

His project yEarn, previously called iEarn, on which the South African software developer spent a year building has been seeing immense success, with the total value locked in the protocol smashing to just over $345 million on July 26th, a staggering increase from just $9.3 million TVL just a week before that, as per DeFi Pulse.

He spent $42,467 on building the platform and double of this on audits and hosting to “give up these controls and costs.”

Its token YFI, which handed all the reins to the community, has been growing like crazy. For the time in the space, the team, Cronje, didn’t keep any of the 30,000 tokens, a cap that was decided through a proposal like every other change to be made in this decentralized system.

The token that has “0 financial value” is currently worth $4,465.

“Andre owning 0 YFI is complete and utter bullshit and every single holder especially the big ones should dip into their YFI book and donate to him,” said popular trader MoonOverlord.

The community has been working on a proposal to allocate some of the supply back to the founder. After the recent development, community members also made donations to Cronje, which he “will be returning, all of them.”

Cronje, who was in control of $40 million of customer funds locked in yVaults has also handed its governance rights to 6 of the 9 wallets of community shareholders that also controls YFI minting, as revealed by an independent crypto researcher Hasu.

In response to this, Cronje shared with the publication that he is being “attacked 24/7” when he is just building on his own without raising a single penny, unlike the multi-million dollar VC raised projects that can instantly steal funds or custodial services lying about being DeFi.

“I just don’t get why everyone is so adversarial and targeting my project so much,” he said.

Although it was all the “truth,” he said, it’s “a lot more sensationalist than the full picture.”

This hasn’t been the first time Cronje talked about quitting the space, back at the end of February, the “toxic community” of DeFi pushed him to take a similar decision.

“I learned my lesson back in March, I made the active decision to continue and work through whatever comes my way. I might hate it more often than not, but it’s not going to stop me. This space won’t get rid of me, until there is nothing left to build,” Cronje said today.

Also Read: yEarn Expanding its Ecosystem to Bring in Hot DeFi Tokens into the Mix

Read Original/a>
Author: AnTy

Acquisition of Circle Leads Poloniex Wallet Users to Yank Out Funds

  • Poloniex has delisted many coins through the last few years of decreasing liquidity, leaving the platform with just 98 trading pairs.
  • One of the most controversial coins to be delisted was DigiByte, which may have led to the gutting of the exchange.

Circle, Inc. recently made a game-changing decision for their customers, abandoning the US market entirely as they moved away from Poloniex. However, the decision has led many consumers to a drastic decrease in deposits for wallets on the Poloniex exchange. According to a recent article by Bitcoinist, the Bitcoin and Ethereum wallet users moved their coins to other markets instead, citing the decision to leave behind the US market as the main reason.

By the time Circle original acquired Poloniex, the supply of coins was already starting to dwindle. The exchange was dealing with technical and regulatory issues, and their traders were slowly decreasing. Tweets by CoinMetrics revealed that the supply that Poloniex held of BTC and ETH dropped dramatically during the Circle acquisition. As it stands, the exchange has not seen levels this low since 2016.

While the cryptocurrency market wasn’t regulated, Poloniex stood strong as one of the first exchanges to actually survive the years. However, the exchange also recorded many outages and disruptions in trading during that time, leaving it with a reputation for being unreliable. As recently as this year, Poloniex was forced to liquidate BTC collateral, leaving them with losses over the volatile CLAMS coin.

The socialized loss of about 1,800 BTC greatly angered traders, and the funds have still yet to be paid, which Bitcoinist suggests is one of the reasons that some traders have walked away from the exchange. While many analysts and experts would advise consumers not the store their funds on the exchange, the socialization of losses was definitely unexpected.

With the low liquidity, Poloniex also had to delist some of the coins that it previously had touted, which has mostly been unproblematic. However, when the exchange pulled DigiByte from their listing, the community became enraged, potentially becoming one of the reasons for the substantial outflow from Poloniex.

Considering the recent path that this platform has taken, Bitcoinist suggests that the focus of Poloniex is on the Tron ecosystem. As one of the larger carriers for the TRON-based Tether token (USDT), their listings have recently been opened up to other TRC-20 tokens. In fact, the TRX crypto asset is even an integral part of the earnings program for Poloniex, according to recent tweets from the latter.

Following this trend, the PoloniexDEX, which only recently launched, has already rebranded as the TRXMarket, now being used as a way for traders to access related coins and tokens.

Presently, daily trading accounts for $44 million on the Poloniex exchange, though these numbers are relatively low for an international exchange. Even with the many delisted tokens, the exchange still has 98 trading pairs, giving them a little standing against the competition of the market.

Read Original/a>
Author: Krystle M

Tron’s Justin Sun At the Center of Poloniex Exit from Circle; Just ‘Helping Out Some Friends’

Poloniex Cryptocurrency exchange is currently in the process of leaving its parent company, Circle. The firm recently announced that it would form Polo Digital Assets as a rebrand.

At the center of this major transaction is Tron Founder, Justin Sun. Anonymous sources from Circle confirmed to The Block that Justin is a major stakeholder in the ‘Asian Investment Group’. The firm is believed to be a major supporter of Poloniex in the exit process. The strategic exit comes less than two years since Circle acquired Poloniex.

Sources further revealed that Justin Sun had been to Circle’s HQ in Boston a few times. The Asian Investment Consortium under Justin is expected to play a major role in transitioning to Polo Digital Assets. As it stands, Poloniex internal employees have been offered the option to join the Crypto exchange as opposed to staying under Circle.

However, Justin recently tweeted that he is not buying anything, rather investing and to help his friends. He went on to further add that he bets on all exchanges that support TRX.

Read Original/a>
Author: Lujan Odera

Two GNT Co-Founders Resign To Open Golem Foundation; A Non-Profit Research And Development Wing

Two-Golem-Co-founders-Quit-to-Head-New-Non-Profit-Research-and-Development-Wing

Two of the founding executives of the multi-million Golem Factory are leaving the startup to head up a new non-profit R&D effort known as Golem Foundation. The new foundation will pursue riskier yet ambitious research and development initiatives.

In a press release, Golem Factory CEO, Julian Zawistowski, stated that the goal of the foundation is to pursue fresh, innovative and experimental yet riskier opportunities as per the Golem proposition and to enhance the Golem Network Token (GNT).

The statement said that Julian Zawistowski and the immediate former COO in Golem Factory, Andrzej Regulski are set to leave the company leaving the reigns to CTO Piotr Janiuk and lead software engineer Aleksandra Skrzypczak.

Explaining the developments, Zawistowski said that the Golem project has reached a stable phase. In this regard, part of the team can easily diversify and research different business or tokenomics avenues.

Skrzypczak explained the new model in details to CoinDesk:

“After several years working together, we came to the realization that in order to keep the research and development of the Golem Network stable and focused, while not relegating the thirst that any technologist has for constant innovation, spinning off a new entity within Golem’s ecosystem is the best way to boost the efforts.”

The four men started Golem Factory in 2016 and managed to raise about 820,000 ETH or about $240 million as per the current market metrics, to develop a distributed computation platform on based on Ethereum blockchain.

Popularly known as Airbnb for computers, the project is basically an option to the cloud computing platforms where a user is free to buy or let out idle computational resources.

Golem was released on the Ethereum mainnet at the start of 2018 with a product beta launch that was referred to as Brass Golem. Currently, the team is poised to launch its next beta that will be released in the coming fall and will be known as Clay Golem. In addition, the developers are also developing Golem Unlimited that will enable the formation of subnetworks on Golem and will be run by data center-like setups so as to increase the network reach.

Although the team is pursuing the technical roadmap for the Golem community, the newly created Golem Foundation will be operating independently and will have its own goals.

Zawistowski explained the mandate of the new foundation:

“In the beginning, we want to start with thorough research of alternative approaches that contribute to the long-term vision behind Golem and create novel and out-of-the-box solutions useful for Golem and GNT. Exploring these options requires a limited period of time working in a semi-stealth mode.”

More Details To Be Announced Later

Currently the company has not yet announced the details or the areas of focus by the research and development team. However, Skrzypczak was categorical that privacy related tools will be part of the Foundation’s plans. The details will be shared in the near future in order to keep the Golem community updated.

What areas would you like the Golem Foundation to focus on? Let us know in the comments section below.

Read Original/a>
Author: Joseph Kibe

Coinbase Reveals Chief Operating Officer is Departing as CEO Brian Armstrong Shares Kind Words

Coinbase Reveals Chief Operating Officer is Departing as CEO Brian Armstrong Shares Kind Words

Asif Hirji is leaving Coinbase. Known as the Chief Operating Officer (COO) of the company, Hirji has decided to leave the company.

He worked on Andreessen Horowitz and TD Ameritrade Holdings Corp. before Coinbase and joined the San Francisco-based crypto company on December 2017, when cryptos were at their highest point so far.

When Hirji entered the company, cryptos were peaking and the roller coaster started soon after he started his role. Under his guidance, Coinbase made a bigger push into international markets and started to also be nearer institutional investors at this time. Also during his time in the position, Emilie Choi was defined as the vice president of the company.

Brian Armstrong, the CEO and founder of Coinbase, the experience of Hirji was very important for the company, as he helped to guide it through a very important chapter of the company’s story. He said that the executive entered the company at a very important time and that he was critical in order to help with growth.

“His experience and mentorship helped guide Coinbase through an important chapter in its history,” Brian Armstrong, Coinbase co-founder and chief executive officer, said in the statement. “He joined at a critical time when both the company and crypto space were going through rapid growth, bringing his extensive experience to bear when it was most necessary.”

The official announcement of the departure happened today, May 31, and it seems that the last day in which Hirji was still in the company was yesterday.

Hirji also talked about leaving the company on his social media profile. He affirmed that the “tour of duty” was over as he helped to scale the company to the value of $1 billion USD in value, launched several new assets and helped the company to achieve the valuation of $8 billion USD.

Others Are Leaving Coinbase As Well

Coinbase seems to be during a renovation time. Not only Hirji left recently, but also other important executives in the company. The former Chief Technology Officer Balaji Srinivasan, for instance, was a big leader that left the company recently. Others include Adam White, Dan Romero and Christine Sandler.

While Coinbase argues that its business is continuing to grow fast, there are already some concerns about the future of the company, especially considering that many key executives are currently leaving it.

However, do not panic if you are interested in seeing Coinbase survive. Choi was one of the first people hired by Hirji and she seems to be doing a good job, looking closely at new partnerships together with the CEO, so the legacy started by Hirji may continue to be present in the company even after him and other people left.

Emilie Choi started her Silicon Valley career at Yahoo! and then she worked on both Flickr, LinkedIn and Aliababa before going to Coinbase, where she is now.

Some changes which are happening in the company right now are that it has undergone a process of de-emphasizing the focus on institutional investors and also has axed a project that was focused on high-frequency traders as well.

The areas in which the company grew the most were Coinbase Custody and over the counter (OTC) trading, according to reports from the CEO Brian Armstrong. The OTC desk, for instance, grew 100% in a single quarter.

At the time of this report, Coinbase employs a total of 800 people.

Read Original/a>
Author: Gabriel M