Hindenberg accuses SOS of fraud / The "goose that may lay the golden eggs" / Delisting BSV

Hindenberg Research gained notoriety last year when it accused Nikola Motors...

Inside.com Part of   Network March 02, 2021

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Bitcoin $48,496 7 day: +0.4% Ethereum $1,558 7 day: unch All crypto $1.49T 7 day: +0.4% Bitcoin dominance 60.9% 7 day: -0.7% Prices as of 11:35 a.m. EST

Hindenberg Research has accused a Chinese blockchain company, SOS Ltd. (NYSE:SOS), of fraud in a series of tweets. Hindenberg Research gained notoriety last year when it accused Nikola Motors (NASDAQ:NKLA) of fraud. SOS lost one-third of its market capitalization intraday after Hindenberg reported mid-day on Friday. The stock recovered on Monday, rallying 40% into the close of trading. Context: Morgan Stanley, Credit Suisse, and Jefferies Group helped list the American Depositary Shares of SOS on the New York Stock Exchange. Morgan Stanley's ex-vice chairman of investment banking, Douglas Brown, has been a member of the board of directors at SOS since 2007. SOS entered the crypto space in January 2021 by investing in crypto mining under the guidance of Dr. Huazhong (Eric) Yan. SOS also had another blockchain project called FXK. Yan is the founder of eSecureChain Technologies Inc. and joined the SOS team on Jan. 6, 2021. This story continues in part 2 below... Hindenburg Research

Fraud allegations against SOS Ltd.: Hindenburg called SOS "an obvious China-based shell company" cashing in on crypto euphoria. The research firm discovered that SOS's headquarters and office addresses were fake. Hindenburg explained how Dr. Yan fabricated his background and credentials. FXK's website did not exist before Feb. 17, 2021, although its deal with SOS took place a month, Hindenburg showed. The Hindenburg team reverse-searched FXK's website images and discovered that they belonged to another Chinese crypto mining company called RHY. After contacting RHY regarding the images, the company acknowledged that SOS had copied RHY's website. Click to tweet the following text (you can edit it before sending): An investigation led by @HindenburgRes discovered many perplexities about a crypto-related "Chinese shell company" $SOS Motley Fool

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Vice President of Nigeria Yemi Osinbajo The Vice President of Nigeria calls for crypto regulation yet cautions against killing the "goose that may lay the golden eggs." Nigeria's VP Yemi Osinbajo has issued a statement acknowledging the nation's central bank ban on crypto, yet he admitted "possible uses of cryptocurrencies." The Central Bank of Nigeria recently ordered the closure of almost all bank accounts connected to crypto. Osinbajo called for "a robust, regulated regime that addresses the serial concerns without necessarily killing the goose that may lay the golden eggs." Nigeria has benefited from international trade, gross domestic product, and foreign direct investment increases from the crypto industry. Yemi Osinbajo

Satoshi Nakamoto's second successor, Wladimir van der Laan, urges crypto exchanges to delist Bitcoin SV (BSV) due to Craig Wright's lawsuits. Craig Wright is an independently wealthy, litigious businessman and the dubiously self-proclaimed inventor of bitcoin. A previous edition of Inside Cryptocurrency covered Wright's Letter Before Action served to van der Laan. We've also covered Wright's legal letter to BitcoinCore.org that frightened van der Laan into retirement. Call to delist BSV: "If you are running a cryptocurrency exchange and haven't delisted BSV yet, now might be a very good time," van der Laan tweeted unambiguously. The Craig Wright-supported fork of bitcoin, Bitcoin Satoshi Vision (BSV), is currently listed on more than 90 different crypto exchanges. Van der Laan is responding to Craig Wright's pre-litigation (Letter Before Action) that threatens other Bitcoin Core developers Marco Falke, Pieter Wuille, Jonas Schnelli, and Samuel Dobson. Wright is demanding that bitcoin core developers share access to bitcoin in several wallets. Interestingly, Paolo Ardoino, the CTO of Bitfinex and its sister company: stablecoin issuer Tether (USDT), supported van der Laan. Click to tweet the following text (you can edit it before sending): Bitcoin's Lead Maintainer and lead #bitcoincore developer @orionwl urges crypto exchanges to delist the Craig Wright-backed Bitcoin SV $BSV Wladimir van der Laan

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Curated by Associated Press fanboy, eye-strained news terminal watcher, and bitcoin follower since $1, Aaron Wise. Temporarily listening to news squawk boxes in Florida while awaiting the construction of cryptopia. Editor Charlotte Hayes-Clemens is an editor and writer based in Vancouver. She has dabbled in both the fiction and non-fiction world, having worked at HarperCollins Publishers and more recently as a writing coach for new and self-published authors. Proper semi-colon usage is her hill to die on.

12 Ways to Defeat Multi-Factor Authentication featuring Roger Grimes

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