Lawyer Asks Whether KYC Is Worth Exposing Users to Hacking and ID Theft

In the aftermath of the recent BitMEX data leak, lawyer and general counsel at decentralized finance startup Compound Finance Jake Chervinsky raised the question of whether exposing the public to data risks that Know Your Client (KYC) requirements entail is worth it. It is about time we reconsider KYC In a tweet posted on Nov. 1, Chervinsky calls KYC requirements “are a double-edged sword.” He explained that KYC helps law enforcement to track illegal transactions but also exposes the public to hacking, phishing and identity theft. In the end, Chervinsky…

Bitmain’s New IPO Attempt in Jeopardy as In-Fighting Goes Public

In 2017, Bitmain ruled the roost and all eyes were on China, but 2018 was a barren year for cryptocurrency. Prices plummeted. Companies crumpled. The long-awaited initial public offerings of two crypto mining titans, Bitmain and Canaan Creative, failed at the final hurdle as the crypto winter humbled even the most ambitious crypto companies.  But not for long. After biding their time in the shadows, following months of rumors and tumultuous events, the two hardware behemoths are filing to go public in the United States.  Bitmain bites back  Founded only…