Cryptocurrency News for the Week of April 8-14, 2018

Cryptocurrency is experiencing a lot of thefts and giveaways this year. And governments around the world are scrutinizing the industry. Companies simply using crypto and blockchain to build buzz are quickly learning there needs to be substance behind it, and everyone’s curious what the next big token will be.

Here are the cryptocurrency and blockchain stories to know for the second week of April 2018.

Bitcoin Exchange Implicates Employee In $3 Million Theft

by Sujha Sundararajan, Coin Desk

Coinsecure, one of India’s biggest Bitcoin exchanges, was robbed of 438.318 BTC worth $3.3 million. The company’s CEO, Mohit Kalra, blames the theft on the company’s CSO, Dr. Amitabh Saxena. The security head allegedly followed improper security procedures, and the company asks customers to stand by the brand as they recover the stolen funds.

Airdrops Mean It’s Raining Free Money In Crypto

by Brian Penny, CryptoBriefing

The SEC and other government regulators around the world cracking down on ICOs. On top of this, major tech marketing platforms like Google, Twitter, and Facebook banned ICO ads. Now Airdrops are the new way for crypto coins and tokens to market themselves. It’s making a lot of money for early adopters, even though many of these airdropped coins are worth as much as Schrute Bucks

Russian Gov’t Will Block Crypto Industry Favorite Telegram ‘In Near Future’

by William Suberg, Cointelegraph

Telegram has long been used by the crypto community for social news and gathering. It’s even developing its own blockchain platform and raise $1.3 billion in its ICO presale. Now the Russian government is forcing domestic ISPs to block the service, a move that will affect around 10 million Telegram users. However, various Russian media outlets already published methods to circumvent the block.

America’s cryptocurrency tax policy is confusing everyone

by Mike Orcutt, MIT Technology Review

The current IRS cryptocurrency tax structure is unfocused, leaving many investors confused. It’s filled with gray areas, especially when dealing with hard forks, airdrops, and hard forks. Since they’re considered property, buying and holding them is fine, but once you cash out or use them to purchase anything, you have to pay the tax man, and many are scrambling for loopholes that may get them audited.

Gamers And Investors Bet Big On Cryptocurrency And Blockchain In The Gaming Industry

by Rachel Wolfson, Forbes

Last month’s GDC was filled with discussions of blockchain and cryptocurrency. Several platforms touted blockchain and crypo-based capabilities. As discussed a month ago, video games are the forefathers of digital currencies. It’s no surprise to see more companies jumping on the bandwagon to get gamers involved, especially since both groups hodl high-end graphics cards.

Surprise! The Long Island Iced Tea blockchain pivot didn’t work

by Cale Guthrie Weissman, Fast Company

Nasdaq delisted Long Island Blockchain Corp, despite its pivot from Long Island Ice Tea Corp. The company was hoping to capitalize on the buzz of a technology it has nothing to do with, which surprisingly worked for a short period. However, five months later, it’s succumbed to its fate and the lack of direction caused shares to fall below the acceptable threshold to be listed on the exchange.

Enter for your chance to win $500 worth of Ethereum

by The Daily Dot Bazaar

The Daily Dot is giving away $500 worth of Ethereum. The actual amount will vary based on ETH’s price at the time the drawing takes place, which will be in approximately two months. Share the link on social media and throughout the web to earn more entries. It’s not exactly an Airdrop, but it’s still free money. And it’s a much more valuable coin than most of the Airdrops anyway.

Versability

Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower, troll, and freelance writer.

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