headlines
Changpeng Zhao is suing venture capital giant Sequoia Capital for reputational damages
In April 2018, Sequoia Capital sued Binance CEO Zhao Changpeng for violating the exclusive investment agreement; on April 26, the Hong Kong High Court rejected Sequoia Capital’s application for an injunction. Changpeng Zhao will take a Sequoia subsidiary to court after Sequoia's charges against him were dismissed.
Changpeng Zhao said Sequoia Capital China damaged his reputation by preventing Binance from raising funds at favorable valuations, and wanted compensation from the venture capital giant. According to a document filed with the Hong Kong High Court on May 20, Zhao Changpeng has submitted an application through his lawyer to hold a hearing in court and "immediately conduct a brief assessment of damages." According to the information provided by the court website, Zhao will hold a hearing on the case with SCC Venture VI, a subsidiary of Sequoia Capital China, on June 25.Subsequently, in response to suing Sequoia Capital for damaging its reputation, Binance founder Zhao ChangpengResponse to 11 tweets in a row
1. The arbitration tribunal has dismissed all of Sequoia’s claims; 2. I won the case, but the case was extremely damaging, and the injunction made it impossible to raise funds for Binance at the end of 2017, which was a critical moment in the market; 3. Previously, The injunction and Sequoia's serious allegations against it were made public, but since the arbitration is confidential, I cannot defend myself publicly; 4. The Hong Kong court determined that Sequoia's conduct in obtaining the injunction was an abuse of process. At the end of last year, the arbitration tribunal finally determined that all Sequoia's claims had no legal basis; 5. Redshirt China had to bear a total of 2.4 million US dollars in related legal fees, but lost the lawsuit. Even after I win the case, I am not allowed to make the result public, so I have to countersuit to make the result public; 6. I need to advance the legal fees of US$779,000, which will be paid by Sequoia in the end. This is impossible for most entrepreneurs. Most entrepreneurs are also unable to secure additional funding for their startups in the face of imminent lawsuits; 7. Many startups have no choice but to submit to unfair terms or practices employed by venture capital firms, especially one 8. We're not just playing defense, we're fighting for the industry; 9. Fortunately for today's entrepreneurs, there are other options now. People are welcome to use blockchain-based fundraising.
digital currency
Dash Core v0.14.0 software upgrade has been officially launched on its mainnet
Dash Core v0.14.0 software upgrade has been officially launched on its mainnet
On May 23, Galaxy Digital founder Michael Novogratz tweeted to clarify that Galaxy Digital is still a shareholder of Block.one and holds a large amount of EOS. We firmly believe in the leadership of BB and BM and are very excited about their June announcement . The purpose of selling some of the B1 shares to realize the profit is to rebalance the investment portfolio. Odaily Note: Cryptocurrency investment bank Galaxy Digital announced that it has sold part of its equity in EOS developer Block.one, and is no longer an important investor in Block.one. (Whale Exchange)
Blockchain application
Foreign media: Facebook plans to launch cryptocurrency GlobalCoin in 2020
Peer-to-peer BTC trading platform LocalBitcoins stops providing trading services to Iranian users
Alibaba Platform Governance Department will introduce blockchain technology to upgrade intellectual property protection system
Alibaba Platform Governance Department will introduce blockchain technology to upgrade intellectual property protection system
Toyota and the University of Tokyo will jointly test a P2P electricity trading system that combines blockchain technology
Siam Commercial Bank confirms that it will integrate Ripple technology, but the use of XRP has yet to be communicated
U.S. Telecom Giant AT&T Accepts Cryptocurrency to Pay Bills
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Investment and Financing
Japanese "art + blockchain" venture capital firm Startbahn received additional financing from SBI investment A round
Video game developer Pixowl secures $2.5 million investment to push blockchain games online
Video game developer Pixowl secures $2.5 million investment to push blockchain games online
Video game developer Pixowl has announced that it has closed a $2.5 million investment round for its upcoming blockchain-based game, The Sandbox. Parent company Animoca Brands explained that Pixowl is integrating support for Klaytn, a blockchain platform developed by South Korean instant messaging software Kakao, to support KakaoTalk’s more than 220 million users. (Crypto Briefing)
global policy
Japan's Financial Services Agency is reviewing its anti-money laundering policy in response to upcoming FATF review
Russia's Central Bank to Consider Proposal to Create Gold-Backed Cryptocurrency
Russia's Central Bank to Consider Proposal to Create Gold-Backed Cryptocurrency
New Zealand court grants Cryptopia 10 working days to submit report to June 4
New Zealand cryptocurrency exchange Cryptopia tweeted that the New Zealand court granted an extension of Cryptopia's initial report for 10 working days. It is now due on June 4 and will be published on the New Zealand company website when submitted.
Character·Voice
Yano Economic Research Institute: It is estimated that the Japanese blockchain service market will reach 17.15 billion yen in 2019
