Odds and Ends 

Telegram has raised an initial $850M for its billion-dollar ICO

It looks like Telegram’s billion-dollar ICO has reached its first milestone after the chat app company raised an initial $850 million, according to a filing. A document submitted to the SEC earlier this week states that the money was raised “for the development of the TON Blockchain, the development and maintenance of Telegram Messenger and the other purposes.” The security is described as “purchase agreements for cryptocurrency” and the filing is signed by Telegram CEO Pavel Durov. Read our earlier story for full details from Telegram’s TON white paper. This initial…

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Headlines 

Cryptojackers used YouTube ads to secretly mine cryptocurrency

Image: Peter Dazely / Getty Images YouTube is turning passive viewers into cryptocurrency miners, and Google isn’t happy. The issue became apparent earlier in the week as complaints surfaced on social media claiming that YouTube ads were raising red flags in anti-virus software. A service called Coinhive was hijacking a viewer’s CPU and using its power to mine crypto. SEE ALSO: CryptoCelebrities are the newest irritating kid on the blockchain A Friday blog post from Trend Micro, an international cybersecurity company, confirmed the sharp uptick in Coinhive use earlier in…

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Odds and Ends 

Bitconnect, which has been accused of running a Ponzi scheme, shuts down

Bitconnect, the lending and exchange platform that was long suspected by many in the crypto community of being a Ponzi scheme, has announced it’s shutting down. In a release on its website the platform said the shutdown is attributed to “continuous bad press” surrounding the platform, two cease and desist letters from both Texas and North Carolina’s securities boards, and continuous DDoS attacks on the platform. While the platform says they’re refunding all outstanding loans at a rate of $363.62 USD (an average of the token’s price over the last…

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Odds and Ends 

People have spent over $1M buying virtual cats on the Ethereum blockchain

Launched a few days ago, CryptoKitties is essentially like an digital version of Pokemon cards but based on the Ethereum blockchain. And like most viral sensations that catch on in the tech world, it’s blowing up fast. Built by Vancouver and San Francisco-based design studio AxiomZen, the game is the latest fad in the world of cryptocurrency and probably soon tech in general. People are spending a crazy amount of real money on the game. So far about $1.3M has been transacted, with multiple kittens selling for ~50 ETH (around $23,000)…

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Odds and Ends 

Cryptocurrencies have crashed 20% in two days

Of course it’s important to put things into context – this “crash” still leaves Bitcoin at double the price it was just four months ago. But it shows why “investing” in cryptocurrencies isn’t for the faint of heart. Could you imagine waiting on the sidelines for months as the market basically doubled, then putting a sizable chunk of money into cryptocurrency 48 hours ago, only to watch your investment plummet? Not fun. This 20% drop represents years of gains in the U.S stock market – which if invested into cryptocurrency this…

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Odds and Ends 

Bitcoin just passed $4,000

What a day for Bitcoin. 24 hours ago the cryptocurrency was trading below $3,700. About an hour ago it surged passed $4,000 and has no signs of stopping. Its now trading around $4,135.00. For reference, a week ago Bitcoin hit an all-time high as it passed $3,000 for the first time. Check out the chart below to see what the price has done in the last 24 hours. Read more: https://techcrunch.com/2017/08/12/bitcoin-just-passed-4000/

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