Plus Token Money Launderers Stopped Short by Congestion

Funds from the infamous Chinese-based PlusToken ponzi scheme are moving once again, but they’re being blocked by Ethereum’s block congestion. According to Whale Alert, funds from a known PlusToken Ether (ETH) stash were seen moving to a fresh address. The fraudsters transferred 789,500 ETH, worth about $186 million, in what appears to be an effort to launder their funds. The incoming wallet has since signed more than 50 transactions to split the funds across dozens of wallets, but only one of those appears to have been confirmed. The remaining transactions…

Compound Token Suffers Heavy Losses But Still Dominates DeFi Rankings

Compound Governance Token (COMP), the native token to the popular decentralized finance (DeFi) protocol Compound, has suffered heavy losses after its meteoric first day of trading on Coinbase. After trading as high as $427 on Coinbase Pro on Tuesday, COMP has fallen back below $250 within 8 hours of the local high. With less than one-quarter of COMP’s entire supply currently circulating, the aggressive price swings were driven by relatively thin volume — posting $24.5 million in trade over the past 24 hours.   Despite the sharp decline in price, COMP…

FC Barcelona’s $1.3M Token Sale Sold out in Less Than 2 Hours

Spanish soccer giant FC Barcelona has sold out its first FC Barcelona Fan Tokens (BAR), which were sold via sports-focused token platforms Chiliz.net and Socios.com. The $1.3 million sale ran its course in less than two hours. At its peak it sold $777,000 of tokens in less than 2 minutes. Chiliz and Socios CEO Alexandre Dreyfus announced the news in a June 22 tweet. Chiliz and Socios saw a five-fold increase in demand during the sale Dreyfus noted that the token sale saw more than 4,000 fans from 106 countries…

Coinbase Pro Announces Support for Compound’s DeFi Token COMP

United States cryptocurrency exchange Coinbase Pro announced the listing of COMP, the token powering the decentralized lending protocol Compound. According to a Thursday announcement, COMP trading will start on June 23 at 9 a.m. Pacific Time if the liquidity requirements are met. Furthermore, users will be able to deposit their COMP tokens the day hours before the trading activity is scheduled to start. Trading will start progressively After a sufficient — and unspecified — supply of COMP tokens make their way to Coinbase Pro, the exchange will progressively roll out trading…

Compound’s New Token Tops DeFi Rankings on First Day

After a single day of trading, Compound’s COMP token has emerged as the largest decentralized finance (DeFi) token by market capitalization. COMP overtook MakerDAO’s MKR token by market cap as it rallied by more than 60% over just a few hours. The token’s price has since pulled back around 20% from its local highs over $100. Compound’s market cap of nearly $740 million is 35% greater than Maker’s $547.1 million, according to market data aggregator DeFiMarketCap.io. COMP is currently the 20th-ranked crypto asset overall by market capitalization, nudging the second-largest…

Belarus Banks Announce Upcoming Token Pilot Program

On June 10, 12 Belarus’ commercial and state-owned banks received permission from the national central bank to issue digital tokens. They will distribute these digital offerings through an upcoming pilot program. According to Sputnik Belarus, the country has adopted Decree No. 8, “On the development of the digital economy,” giving the power to the Belarus National Bank to implement the banks’ digital economy dynamics. The governmental framework creates the legal environment required for initial coin offerings, or ICOs, across Belarus. The pilot program will run from January 1, 2021, to…

Gaming Giant Atari to Use Its ‘Atari’ Token for Betting, Gaming and Shopping

Gaming behemoth Atari announced that holders of its Atari token will be able to spend it on betting, gaming and shopping. According to an announcement on June 12, the new offerings for Atari token holders follow a partnership with esports firm Unikrn. With the partnership, Unikrn will get access to Atari’s classic games such as Centipede, Pong and Asteroids. Atari — on the other hand —  will get access to the firm’s esports betting platform and will see its token added to its ecosystem. Per the announcement, Atari’s token will…

A New Token Lets You Save on Ethereum Fees by ‘Storing’ Gas

Ethereum (ETH)’s fees are hard-coded to only be payable in Ether, but a clever trick with smart contracts allows users to effectively pay for gas with a special token, which reduces the total fee they incur. This principle was used by the team behind 1inch.exchange, a decentralized exchange aggregator, to introduce the Chi token. The technology was formally announced on June 5, and it builds on a previous iteration of the concept, called Gas Token (GST). How does it work? Chi takes advantage of a mechanism that refunds gas when…

Overstock’s ‘Digital Dividend’ Dominates Security Token Rankings

Since airdropping to Overstock shareholders on May 19, Overstock’s OSTKO token has firmly established itself as the leading security token by trade volume. OSTKO currently posts double the 24-hour trade of volume of the former-top token by volume, also ranking as the most-traded security token for the May despite its airdrop taking place with less than two weeks left in the month. Thus far, the digital dividend appears to have successfully met Overstock’s goals. The firm asserted that the airdrop would provide a boost to the liquidity of its security…

OKEx Continues Their Ongoing OKB Token Buyback

Cryptocurrency exchange OKEx announced the eighth round of buyback for its platform’s proprietary OKB token. In a June 5 announcement, OKEx announced the start of the eighth and largest buyback of OKB tokens. From March 1 until May 31, the exchange bought and burned over 3.5 million OKB tokens, which at its current price of $5.35, translates to a total value of over $18.7 million. OKEx’s OKB buyback initiative was launched in early May 2019, when there were still 300 million of the tokens in circulation. After this last burn,…