Top five news to keep up to date in the world of cryptocurrencies.
Below are details of the most important news from the world of cryptocurrencies this week:
- The United States Securities and Exchange Commission (SEC) sues Quantstamp for conducting an unregistered Initial Coin Offering (ICO).
- The Worldcoin project uses iris scanning to verify the identity of its users in exchange for free tokens.
- Robert Kennedy Jr. has bought 2 Bitcoins for each of his children.
- Sazmining will install a mining farm in Paraguay.
- HRF launches a Bitcoin scholarship program to encourage the development of the cryptocurrency developer community.
SEC Sues Another Crypto Firm
The United States Securities and Exchange Commission (SEC) has filed charges against Quantstamp for conducting an unregistered Initial Coin Offering (ICO). The SEC claims that the company raised more than $28 million from the sale of its QSP token to approximately 5,000 investors.
The SEC order describes how the Quantstamp ICO, which took place in October and November 2017, raised more than $28 million by selling its native QSP tokens to some 5,000 investors.
The SEC order also notes that Quantstamp no longer operates or actively supports automated security auditing of smart contracts after its rollout in June 2019.
Quantstamp had planned to use the proceeds from the ICO to develop a protocol on the Ethereum network that would provide automated security audits of Smart Contracts.
Iris Scan to Cryptocurrency Exchange?
Launched earlier this week under the name Worldcoin, Sam Altman, CEO of ChatGPT developer OpenAI’s new cryptocurrency project has attracted people from all over the world who are getting their eyes scanned in exchange for a digital ID and free cryptocurrency.
The Worldcoin project uses iris scanning as a way to verify the identity of users. Verified users receive 25 free Worldcoin tokens. Although the project promises privacy and deletes or stores collected biometric data encrypted, it has been criticized for its potential privacy implications.
Robert Kennedy Jr. Reveals He Bought Two Bitcoins for Each of His Children
Robert Kennedy Jr., Democratic candidate for the presidency of the United States, has revealed that he has bought 2 Bitcoins for each of his children. In a Twitter Spaces on July 26, Kennedy said the decision came after receiving “a lot of criticism” from cryptocurrency industry insiders and the mainstream press following his pro-bitcoin comments at the Miami Bitcoin Conference in May.
Sazmining Arrives in Paraguay
Sazmining company will install a mining farm in Paraguay near the Itaipu dam. The farm will start operating in September and will take advantage of the area’s energy surplus. It will have a power of 5 MW.
The idea is to position Paraguay as one of the possible destinations for the mining industry at an international level, due to the renewable energy resources and at a very low cost that the nation offers.
New HRF Program Incentivizes Bitcoin Development with Crypto Rewards
HRF has launched a Bitcoin scholarship program to support the cryptocurrency developer community. The program offers 10 scholarships of 2 BTC each for those who can solve technological challenges posed. Participants have until the end of 2024 to submit their proposals, and the winners will receive 2 BTC for each successfully resolved challenge.
The initiative thus seeks to increase the usability and security of some second layer solutions, among which Lightning Network, E-Cash and Nostr stand out.
By Audy Castaneda
