Coinbase will host its first investor day, New York State prosecutors won a jurisdictional dispute involving Bitfinex and a protocol arms race is unfolding in Latin America. Here’s the story:
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Not Your Traditional Investor Day
On the same day Reuters reported Coinbase is looking to go public, the exchange scheduled its first-ever investor day, for Aug. 14. Investor days can often signal a planned direct listing, Jamie McGurk, a former operating partner at Andreessen Horowitz, has said. “This will not be a traditional investor day, but rather an opportunity to hear our perspective on the cryptoeconomy and learn about Coinbase’s role in the ecosystem,” said Coinbase spokesperson Daniel Harrison.
Former Tron Foundation employees are challenging a court order allowing the foundation to settle a lawsuit through arbitration, rather than in court. The initial complaint centers around allegations of wrongful termination and hostile work practices at BitTorrent, a file-sharing service acquired by the Tron Foundation.
Bitfinex will have to face allegations from New York State prosecutors that it lost $850 million in client and corporate funds and tried to cover this hole with funds from the affiliated tether stablecoin, according to a ruling by the State Supreme Court’s Appellate Division on Thursday. The exchange’s parent iFinex initially claimed the prosecutors didn’t have jurisdiction over the Hong Kong-headquartered firm, which the appeals court rejected. The court also dismissed the argument that tether was neither a commodity nor a security.
Three Canaan Creative directors were dropped from the company’s business registry, prompting speculation of a power grab. For months an…