Kin Rewards Engine Goes Public, Improvement Proposals Submitted
The Kin Rewards Engine algorithm and spend guidelines have officially been opened up to public contribution. To kick things off, team members at Kik Interactive, Inc. have already submitted improvement proposals for KRE v1.1 and KRE v2.0. To learn more about how to contribute check out the blog post here: Kin Rewards Engine Goes Public, Improvement Proposals Submitted (Kin Blog)
More News from the Kin Ecosystem
Kin Reaches 1,000,000 Monthly Active Spenders
The Kin Ecosystem has reached a major milestone as over 1 million users have spent Kin across 80+ apps in the last month, reaffirming Kin as the most used cryptocurrency in the world by mainstream consumers. Read more about the achievement here: Kin Ecosystem Reaches One Million Monthly Active Spenders (Kin Blog)
Altcoin Fantasy Wins the Kin Crypto Challenge: Try it Today!
The Kin Crypto Challenge has come to a close and Altcoin Fantasy has taken home the grand prize! In this crypto trading simulator, users can enjoy Kin by redeeming daily rewards and by spending in winner-takes-all duels against friends! By implementing Kin, they hope to drive social engagement in-app and adoption of the digital currency. Read more here: Altcoin Fantasy Wins the Kin Crypto Challenge
Kik Interactive, Inc. Announces Plan to Buy Kin to Fund Employee Compensation Program
Market Watch: Industry prices have fallen further during Tuesday's trading as Bitcoin edges ever closer to the $8,000 mark. Lesser-known altcoin MMOCoin, however, has seen a significant rise, jumping 280% in value.
1. The Royal Bank of Canada (RBC) has denied reports that it's considering launching a cryptocurrency exchange. Last week, it was reported by The Logic that the RBC was "exploring" such a possibility for investments and online purchases; however, it appears that that is incorrect, according to RBC spokesperson Ed Jones. Confirming this via email, Jones stated patent applications filed by the bank do not reveal any intention to launch a crypto platform, adding that RBC has "no near-term plans" to do so. –COIN DESK
2. The U.S. Securities and Exchange Commission (SEC) is reviewing its decision to reject the Bitcoin exchange-traded fund (ETF) filed by Bitwise Asset Management and NYSE Arca. In October, the SEC rejected the applicants because they hadn't met requirements regarding illegal activities and market manipulation. However, in a notice published yesterday, the regulator said that it will now reassess its previous stance. The main reason was that "pursuant to Commission Rule of Practice 431," it would review its action. Over the review period, "any party or other person may file a statement in support of, or in opposition to" the proposed ETF no later than December 18. According to Charles Lu, CEO of ledger protocol Findora, for the SEC to approve a Bitcoin ETF, those filing it will need to prove that "price discovery is happening as opposed to market manipulation." –FEDERAL REGISTER
A MESSAGE FROM LEDGER
Protect your crypto assets: what's the best way to store your private keys?
In a decentralized environment, keeping control over your funds and your private keys is fundamental. If you leave your crypto assets online, you are not in charge and you are exposed to hacks.
3. A 45-year-old man from Sweden has been extradited from Thailand to the U.S. after allegedly defrauding $11 million in cryptocurrency out of people. Roger Nils-Jonas Karlsson was initially arrested in Thailand in June for securities fraud, wire fraud, and money laundering. He is alleged to have used two websites - easternmetalsecurities.com and hci25.com - where he made a number of false communications to several investors such as registering one of the websites to a fictitious person and advertised shares in a product called a "Pre Funded Reversed Pension Plan. As a result, he was able to con 3,500 people out of their money and has been accused of transferring that money to his personal accounts. If convicted, he faces a maximum prison sentence of 20 years and a maximum $250,000 fine for wire fraud and securities fraud charges. For the money laundering charge, Karlsson faces 20 years in prison and a fine of $500,000. –THE BLOCK
4. Software available for download on Monero's official website can steal cryptocurrency, an announcement on Reddit by the coin's core development team reveals. According to the post, the command-line interface (CIL) tools available on getmonero.org have been compromised at some point in the last 24 hours. The notice goes on to point out that some users became aware that the "hash of the binaries they downloaded did not match the expected one." The team warned that if users have downloaded binaries in the last 24 hours, they should check the binaries' integrity if they haven't already done so. If they don't match, the team instructs users to not run the downloads. –@REDDIT/XMR CORE TEAM
5. Those who provide information on illegal initial coin offerings (ICOs) in China could be financially rewarded. According to a report, China's financial regulators have issued a letter to provincial and municipal government officials in a bid to prevent fraudulent cases involving the blockchain, stating that it should be explored "scientifically and rationally." Citizens are also encouraged to report instances of illegal fundraising, which, once checked and verified by government officials, will see them receiving a reward. –U TODAY
6. PayPal Ventures is backing a $4.2 million funding round for a crypto banking compliance startup alongside others. The startup is TRM Labs, which aims to boost the institutional embrace of crypto. Other investors include Reddit founder Alexis Ohanian's Initialized Capital and San Francisco firm Blockchain Capital. Total funding for TRM now totals $5.9 million since its emergence out of Y Combinator this year. –COIN DESK
7. The U.S. Federal Emergency Management Agency (FEMA) is considering using blockchain to improve disaster insurance payouts. The agency says it is interested in a blockchain-based property register to boost the efficiency of disaster responses. The register would contain all the necessary information to file an insurance or disaster assistance claim. –COINJOURNAL
8. Comisión Nacional del Mercado de Valores, Spain's financial watchdog, has warned against an Ethereum-based token known as AlyCoin. According to the agency, the coin is not registered in the country and promotes an unregulated initial coin offering (ICO). The agency also notes that the token violates the second paragraph of Article 17 of the Securities Markets Law by soliciting clients and providing them with financial services. –FINANCE MAGNATES
9. Phineas Fisher, an anonymous hacker, has put up a $100,000 bounty, which will be paid in Bitcoin or Monero to hackers for leaking information about banks and oil companies. The bounty, known as Hacktivist Bug Hunting Program, is designed to motivate hackers to carry out politically motivated hacks against organizations where the disclosure of documents is in the public interest. –VICE
10. Decentralized payment processing company Radpay has raised $1.2 million in a funding round from the likes of investment companies Resiliency Ventures and BlackLaunch. According to a press release, the funding reflected a 20 percent oversubscription. Proceeds will be allocated toward further development of Radpay, which will include growth of the firm's marketing, e-commerce, and retail merchants. It will also help with Radpay's inventions in blockchain, payments, and digital wallets. –COINJOURNAL
This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. Connect with her on Twitter.
Edited by Inside Dev and Inside Deals editor Sheena Vasani.
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