Embattled political consultancy Cambridge Analytica planned to issue its own virtual currency before it became linked to a scandal involving the misuse of data belonging to millions of Facebook users, The New York Times reported Tuesday.Cambridge Analytica's digital token was to help people store and sell their online personal data, The Times reported. The effort was reportedly overseen by Alexander Nix, the company's former CEO, who was forced out in March after an undercover reporter recorded him bragging about his company's approach to political work in other countries.It isn't known whether Cambridge Analytica still plans to issue the currency. The company didn't immediately respond to a request for comment.Cambridge Analytica is at the heart of a scandal that's stirred up two national governments and the world's largest social network. Facebook banned the UK-based political data analysis firm last month, saying it had improperly received as many as 87 million user profiles leaked … [Read more...] about Embattled consultancy Cambridge Analytica reportedly planned virtual currency
New virtual currency
Inside Cambridge Analytica’s Virtual Currency Plans
Supported by Technology By NATHANIEL POPPER and NICHOLAS CONFESSOREAPRIL 17, 2018 Continue reading the main story Share This Page Continue reading the main story SAN FRANCISCO — The embattled political data firm Cambridge Analytica quietly sought to develop its own virtual currency in recent months through a so-called initial coin offering, a novel fund-raising method that has come under growing scrutiny by financial regulators around the world.The offering was part of a broader, but still very private push that the firm was making into the nascent world of cryptocurrencies over the last year.Much like its acquisition of Facebook data to build psychological profiles of voters, the new business line pushed the firm into murky ethical and legal situations. Documents and emails obtained by The New York Times show that Cambridge Analytica’s efforts to help promote another group’s digital token, the Dragon Coin, associated the firm with a famous gangster in … [Read more...] about Inside Cambridge Analytica’s Virtual Currency Plans
Europe’s venture capitalists embrace virtual currency craze
LONDON (Reuters) - Some of Europe’s biggest venture capital firms are buying into sales of new virtual coins or asking their investors to give them the freedom to do so, in a sign of mainstream investor backing for the booming but controversial crowd-funding tool. FILE PHOTO: A man walks past an electric board showing exchange rates of various cryptocurrencies including Bitcoin (top L) at a cryptocurrencies exchange in Seoul, South Korea December 13, 2017. REUTERS/Kim Hong-Ji/File Photo Germany’s HV Holtzbrinck Ventures, which has more than 1 billion euros ($1.23 billion) under management, is talking to its investors about changing the terms of its next fund so it can buy tokens directly, Jan Miczaika, a partner at the firm, told Reuters. Lakestar, the Zurich-based firm run by Klaus Hommels, has made at least four investments in crypto and blockchain-related businesses since early 2017, among them ShapeShift, an exchange, and Blockchain, a wallet provider, and it … [Read more...] about Europe’s venture capitalists embrace virtual currency craze
2 Founders of $32 Million Centra Virtual Currency Project Are Arrested
Supported by Technology By NATHANIEL POPPERAPRIL 2, 2018 Continue reading the main story Share This Page Continue reading the main story SAN FRANCISCO — Federal authorities have arrested two founders of a virtual currency that raised $32 million from investors last year and won an endorsement from the boxer Floyd Mayweather.The co-founders of the Centra virtual currency, Sam Sharma and Robert Farkas, were arrested on Sunday, a day before the Securities and Exchange Commission released a complaint against the men and announced that it was halting the project.Centra raised $32 million last summer and fall in a so-called initial coin offering, a method of fund-raising in which companies sell custom virtual currencies. The Centra team said at the time that the Centra token would give investors access to a new virtual currency exchange and a virtual currency debit card that would operate on the Visa and Mastercard networks.The S.E.C. said in its complaint that the Centra … [Read more...] about 2 Founders of $32 Million Centra Virtual Currency Project Are Arrested
Tokyo Otaku Mode Launches New Otaku Coin Virtual Currency
Virtual currencies are one of the biggest new crazes out there, for some reason, and it seems like everyone’s trying to get in on it. But the company Tokyo Otaku Mode has an interesting new idea for a type of currency that lets otaku and anime fans earn a special kind of coin by doing the things they’re already spending time doing to earn fun items, experiences, and more. It’s called Otaku Coin, and it’s the newest addition to the growing list of virtual currencies to utilize blockchain technology. Otaku Coin is meant to help fans connect with their favorite creators so they can do their part when it comes to supporting anime and manga that they enjoy. Otaku Coin is looking to allow people to back new anime projects as well as those who create the content themselves. It’s a type of currency meant to help the entire anime industry in different ways that are currently available — like buying DVDs and Blu-rays and other official releases. Otaku Coin can … [Read more...] about Tokyo Otaku Mode Launches New Otaku Coin Virtual Currency