Moonday Morning: Buterin says Ethereum Foundation made $100M by dumping Ether at the top – The Next Web

Hello and welcome to yet another Monday and with that, another Moonday Morning Hard Forks selection of the top cryptocurrency and blockchain headlines from the past weekend.

Heres what weve found.

1.Vitalik Buterin, the co-founder of Ethereum, ETH has said the Ethereum Foundation made approximately $100 million after selling Ether during the cryptocurrencys last all-time high, which saw it trade close around the $1,400 mark,CryptoGlobe reports.

Buterin made the comments on apodcastwith Eric Weinstein, Thiel Capitals managing director.

I did get the Ethereum Foundation to sell 70,000 ETH like basically at the top and thats doubled our runway now, so it was one good decision that had a lot of impact, Buterin added.

2. The QuadrigaCX saga continues. Lawyers representing users of the defunctcryptocurrency exchange have asked Canadian authorities to exhume the founders body based on questionable circumstances surrounding his sudden death, according to the BBC.

Geral Cotten passed away last year from complications relating to Chrons disease. Its been claimed that the founder was the only person who had thepasswords to cryptocurrency wallets containing $137 million of users funds.

3. TheRiksbank,Swedens central bank, has asked Accenture to handle the development of itsdigital currency pilot.

According to a press releaseissued last Friday, Accenture will take care of e-kronas consumer-facing features and test them with simulated stores.

But dont get too excited, because the countrys central bank is yet to commit to issuing an e-krona.

4. In other news, several cryptocurrency startups are closing down due to regulatory pressure from the European Union (EU), the Block reports.

UK-based cryptocurrency payments startup Bottle Pay said on Friday that it would cease operating on December 31, citing concerns over EUs 5th Anti-Money-Laundering-Directive, which is due to take effect on January 10.

Cryptocurrency mining pool Simplecoin and Bitcoin gaming platform Chopcoin also announced their decision to shut down this morning, claiming the decision was also due to the incoming piece of legislation.

5. And last, but by no means least, A unit of ByteDance, the owner of video-sharing platform TikTok, has entered into a joint venture with a state-owned Chinese media group to develop business lines, including blockchain and artificial intelligence.

The joint venture will focus on partnership in the digital rights of short videos, a ByteDance spokeswoman told Reuters.

Bloomberg says that ByteDances unit will own 49 percent of the new firm which has a registered capital of $1.4 million (10 million yuan) andShanghai Dongfang Newspaper Co will control the rest.

Well, there you have it: another exciting weekend in the cryptocurrency and blockchain world. Now, go and get on with the rest of your day.

Published December 16, 2019 11:29 UTC

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Moonday Morning: Buterin says Ethereum Foundation made $100M by dumping Ether at the top - The Next Web