{"id":9981,"date":"2018-09-15T22:25:29","date_gmt":"2018-09-15T22:25:29","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=9981"},"modified":"2018-10-05T11:42:07","modified_gmt":"2018-10-05T11:42:07","slug":"news-sec-vs-crypto-hedge-fund-garza-sentenced-post-bubble-office-vacancies-eos-hack-icos-sell-off-238k-eth-david-chaum","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2018\/09\/15\/news-sec-vs-crypto-hedge-fund-garza-sentenced-post-bubble-office-vacancies-eos-hack-icos-sell-off-238k-eth-david-chaum\/","title":{"rendered":"News: SEC vs crypto hedge fund, Garza sentenced, post-bubble office vacancies, EOS hack, ICOs sell off 238k ETH, David Chaum"},"content":{"rendered":"

The SEC’s still on a roll \u2014 Timothy Enneking of Crypto Asset Management LP,<\/a> a “crypto hedge fund,” is busted for misrepresentations and registration failures<\/a> \u2014 “falsely claiming that the fund was regulated by the SEC and had filed a registration statement with the agency.” Enneking will pay a $200,000 fine. Here’s the administrative order<\/a> (PDF).<\/p>\n

Josh Garza is sentenced to 21 months’ jail<\/a> for the GAW cloud mining fraud \u2014 including<\/a> Paycoin. But … what will we see him offering when he gets out in two years?<\/p>\n

It turns out a bubble economy does not make for a stable customer base \u2014 there’s suddenly a pile of empty offices in Canary Wharf,<\/a> as the price collapse takes hold.<\/p>\n

Continuing in the grand tradition<\/a> of Ethereum smart contracts, 333 ETH, the fourth most popular Ethereum dapp, is a Ponzi scheme<\/a> \u2014 offering 3.33% returns daily.<\/em> It appears not to pay out reliably, oddly enough.<\/p>\n

Smart contracts on EOS work very like<\/a> smart contracts on Ethereum \u2014 they’re buggy, and all thefts are final.<\/a> Someone who read DEOS Games’ contract terms more closely than the programmers who wrote it scored 4728 EOS with repeated withdrawals.<\/p>\n

ICOs are panic-selling their ether while it’s worth anything \u2014 they’ve sold 160,000 ETH in the past ten days,<\/a> or 283,000 in the past 30 days. That’s three times what they sold off in August.<\/p>\n

Breaker have an interview with Maria Bustillos<\/a> of the Civil ICO for journalism on the blockchain. It’s all about the frankly implausible schemes<\/a> for how Civil is supposed to work\u00a0\u2014 and nothing about the flows of cash in the ICO, particularly those to Consensys. (ICOs are 0% about the unlikely future, and 100% about the flows of cash.) But the revelation that she’s an early Bitcoiner explains the sort of thinking that makes her claim that me quoting Civil’s own web site<\/a> constituted “willful misrepresentations.”<\/a><\/p>\n

Renowned cryptographer and cryptocurrency pioneer David Chaum<\/a> appears to be starting an ICO<\/a> \u2014 for what is apparently Chaum’s “private and scalable blockchain” startup, MixxLabs.<\/a><\/p>\n

The Coinsbank Crypto Cruise featured a debate between Jimmy Song and Roger Ver \u2014 and they started fighting 37 seconds in.<\/a> The forthcoming Laurie Penny piece should be a blinder.<\/p>\n

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I\u2019m almost home from my rather terrifying and epic adventure in crypto-hippy blockchain ewtopia. It was great and awful and fascinating. I am tireder than I have been in a long time. Full story will be out in a week or so. Going home to sleep.<\/p>\n

— Laurie Penny (@PennyRed) September 12, 2018<\/a><\/p><\/blockquote>\n