Sygnum, Mt. Gox & Lazy Crypto Developers - Cryptoland News (09/26/2019)

Sygnum, Mt. Gox & Lazy Crypto Developers - Cryptoland News (09/26/2019)

By Cryptolohy | cryptolohy101 | 27 Sep 2019


Tired of watching people on Crypto-YouTube reading entire articles word-by-word with screen sharing on 10 minute long videos? Here you can get a summary of the most interesting news we could find + the source (if you want to get additional details) let's go!

 

Bussines Booming in Crypto-Switzerland

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What?

Sygnum, an asset bank that just recently got a license from FINMA was inaugurated last week.

 

How?

So far, it seems that the response from the crypto community has been great, according to one of his cofounders:

 

"Since the license was awarded, we have been experiencing an overwhelming number of preboarding submissions,”

Mathias Imbach 

 

What's the result so far?

This company might be able to entice other businessmen to jump on the crypto bandwagon.

 

How To Recognize a Bad Investment On Cryptoland

351665157-ed9895ea5781159a61540d2f8269e380add7a99ac538d1df73f5dd5dc8b62faa.jpeg

What?

"Out of 2000 token projects reviewed, 640 have not published a single line of code in 2019, despite many still having a market cap."

Michael Hiles

 

How?

A lot of lazy scammers (32% within cryptoland) had failed to publish a single line of code in 2019, which speaks volumes of the need for more voluntary accountability or private-based investigations into crypto coding activity.

 

What's the result so far?

With this original research made by the "Coincodecap" project, the public at large might start building a mechanism to weed out bad apples from the market.

 

Russian Law Firm Reaching Out To Mt. Gox Victims

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What?

ZP Legal, a Russian law firm has contacted the Mt. Gox victims arguing that it can recover up to 200,000 bitcoins.

 

How?

According to Coindesk:

 

"The proposition, in short, was to leverage the previously established connection between the 2014 Mt. Gox hack and defunct Russian crypto exchange BTC-e, where some of the 750,000 stolen bitcoins ended up.

ZP Legal offered to file police reports in Russia on the creditors’ behalf. Then, creditors would have to wait for alleged BTC-e operator Alexander Vinnik to get extradited to Russia and for the police to find the other culprits — with ZP Legal’s help. The thieves would either plead guilty and return the stolen funds to receive lighter sentences, or get convicted and then be sued by creditors for damages."

 

What's the result so far?

A minority of the victims which are entitled to a portion of the bitcoins who ZP Legal claims it can recover had agreed to explore that route, instead of waiting to Nobuaki Kobayashi's corporate restructuring process.

 

Sources:

decrypt.co/9586/switzerland-crypto-assets-bank-sygnum-demand

https://blog.coincodecap.com/analyzing-cryptocurrencies-github-activity/

https://twitter.com/MichaelHiles/status/1176120557135380481

coindesk.com/for-desperate-mt-gox-victims-long-shot-bitcoin-deal-beats-endless-wait 

 

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