As the Monday closed with some positive price action for the first time in a while, the news surrounding the cryptocurrency world as always remained a mixed bag. From mainstream outlets describing their favorite cryptocurrency picks for 2019, over Binance going “clean” to EOS getting into some hot water, there was plenty to be happy and upset about. Let’s take a quick look at all the top news of today:
- EOS embroiled in voting controversy
In a discovery which echoed the thoughts of Vitalik Buterin from late March this year, Twitter user @MapleLeafCap revealed that EOS block producing isn’t as decentralized as the project would like us to think. In a post made on his Twitter account, he provided excel spreadsheets coming from Houbi exchange (one of EOS BP’s), revealing how they accepted money in exchange for supporting certain entities within the project’s network of block producers.
Recently, an internal excel document from Huobi (one of the BPs) is circulating in the Chinese community. This file documents the collusion, mutual voting, and pay-offs that occur amongst the Chinese BP community. I’ m working on getting the file.
— Maple Leaf Capital (@MapleLeafCap) September 26, 2018
Block.One, the creators of the EOSIO software, replied to these allegations, claiming that they were aware of them but seemingly reiterated that no evidence was provided of Huobi actually committing these wrongdoings. EOS has seen its share of issues regarding its governance and the distribution of power within its DPoS network so it’s fair to say that these allegations shouldn’t be swept aside so easily.
- World economy at risk of another financial crash, says IMF
The world economy is on a brink of a financial breakdown following the failure of world’s governments to protect the financial system from reckless behavior, claims IMF and reports The Guardian. Mentioning the amassed debt which is currently sitting well above the 2008 levels, IMF claims that this current period of low interest rates and subdued volatility can only lead to the situation worsening in the future. Citing unregulated Chinese markets which handle trillions of dollars’ worth of funds and a lack of will to budge under IMF’s demands shown by Donald Trump’s administration as special concerns, the fund warns that “large challenges loom for the global economy to prevent a second Great Depression”.
- Robinhood expands its reach
The big US crypto trading app Robinhood recently expanded its services to Rhode Island, Tennessee and Arkansas, increasing the number of American states in which users can make zero-commission crypto trades to 24. The launch of operations in these three states comes just weeks after the company launched in Alaska and Oklahoma. After launching in just 4 states earlier this year, it’s fair to say that Robinhood has been making all the right moves as of late.
- Binance updates its listing fees
In a move which probably marked the today’s news cycle, Binance exchange confirmed that they will be making all of their future listing fees transparent and will be donating 100% of them to charity. The applying process will consist of the project’s team providing the number they think would be an appropriate “listing fee,” or what is now referred to as a “donation.” Binance will not dictate a number, nor is there a minimum required listing fee. “A large donation does not guarantee or in any way influence the outcome of our listing review process,” concludes Binance in its official announcement.
The move was received to a general chorus of approvals, but there were more than plenty skeptical community members. People pointed out that Binance could use these donations for tax write-offs and also asked for the exchange to provide retroactive transparency on previous listings. Claiming “confidentiality clauses” in previous agreements, Changpeng Zhao shut down any possibility of that happening.