In the first weekend issue of The Daily, we examine the biting effects of the crypto-winter, which could have frozen ETH dwarfs, but did not prevent the scammer with crypto to deal directly with crypto. We also look at the recent restructuring of the NEM Foundation, which had the full power of the crypto cooldown. Finally, we're previewing Huobi 's new competitor for Binance Launchpad – Prime.
Also read: Onecoin Leaders in the US Accused of "Fraudulent Pyramid Scheme"
The NEM Foundation is implementing Plan B to stay afloat
The NEM Foundation, which oversees development and community initiatives with the NEM Cryptocurrency (XEM), has released a new financial plan. The organization, which recently fired a majority of its staff, is looking for community developers to join the NEM mobile wallet app. On February 20, 210 million NEM tokens were unlocked by the Foundation, of which $ 25 million was "dedicated to setting up processes and structures for a new, product-driven, revenue-driven approach to the NEM Foundation."
Excessive spending, coupled with mismanagement of funds and human resources, left the Foundation on the sidelines as the crypto market moved south. The NEM Cryptocurrency, which has been paid periodically to fund the organization's efforts, has fallen 98 percent from its all-time high and should multiply 49-fold to reach its previous high. Even before the organization ran into trouble, few within the Cryptocurrency community recognized the purpose of the Blockchain project and what its foundation did to promote an ecosystem that would attract developers and users.
Bitcoin beggars bother Bigshots
One of the many dangers of being a successful crypt retailer is the constant begging of strangers looking for a bit of BTC to ease their worries. The seriousness of the problem became clear on March 8 at the well-known dealer Crypto Cobain divided some of the DMs he regularly receives, including some people who spam him incessantly with money requests. "Well, I will not post all because it would take a week," he tweeted. "But here is an idea. Now imagine this of 10 people per day. Close my DMs, it's not about this life. "
Cobain added playfully, "Hey Cob. I wrote you, but you still do not call. I left my BTC, ETH and XRP address at the bottom. "Crypto Twitter was asked to use an impromptu version of" Stan ".
Huobi Prime vs. Binance Launchpad
Cryptocurrency Exchange Huobi is preparing a token launch pad that can compete directly with Binance's offering. "On the way we have something amazing called Huobi Prime. Stay tuned for more details. " wrote Houbi Marketing Director Ross Zhang. Prime is expected to allow new projects to sell their tokens directly to Huobi users before they are listed on the stock exchange a few days later. Binance Launchpad has been extremely successful in this regard, as token sales were several times oversubscribed, followed by significant market demand for the newly listed assets.
What do you think of the stories in today's news overview? Let us know in the comments below.
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The Post In The Daily: Bitcoin Begging, NEM Foundation Fights To Survive, Huobi Prime first appeared in the Bitcoin News.