DeFi Money Market, one of the earliest projects aiming to bring real-world assets on-chain, abruptly announced last night that it has “ceased operations.” “As a result of regulatory inquiries, DMM is shutting down,” a statement on the project’s website reads. “[...] DMM regrets the necessity of this action, and would like to thank the DMM community for its support and active participation in this project.” The website provided users instructions on how to redeem yield-bearing mTokens, and said that yields for the tokens would drop to 0% on February 10th. “We’re sure that you have questions, but unfortunately we are …

Tim Draper, the billionaire Bitcoin (BTC) investor who also invested early in Tesla, reacted to the company's CEO and world's richest man, Elon Musk, adding #Bitcoin to his Twitter bio to join the likes of Twitter CEO Jack Dorsey and Reddit co-founder Alexis Ohanian. Draper, who holds around 30,000 BTC according to reports, told Musk that he would like to pay for the Tesla cybertruck with BTC while promoting his Bitcoin payment processor portfolio company OpenNode. He said: “Hi Elon Musk, I would like to buy a Tesla cybertruck. Although I personally would rather keep my own #bitcoin, you can …

Major business magazine Forbes has featured Gemini co-founders Cameron and Tyler Winklevoss as the richest Bitcoin (BTC) billionaires. Compiled by Forbes crypto-focused reporter Michael del Castillo, the ranking provides a list of Bitcoin investors that won the most from Bitcoin’s massive surge up to $42,000 in early January. The ranking includes three Bitcoin investors with an estimated crypto net worth above $1 billion, including the Winklevoss brothers, major industry investor Tim Draper and Matthew Roszak, chairman and co-founder of blockchain firm Bloq. The twins topped the list with an estimated cryptocurrency net worth of around $1.4 billion apiece. Roszak and …

Some of the biggest names in blockchain have thrown their weight behind a new cryptocurrency derivatives exchange, signaling that the next bull market could be driven by institutional investors. Crypto derivatives platform Globe has raised $3 million in seed investments to launch its Globe Derivative Exchange. The new platform is aimed at bringing institutional investors into the world of cryptocurrency. Early-stage investors in the new venture include billionaire Tim Draper, blockchain investment fund Pantera Capital and venture capital firm Y Combinator. Pantera executive Paul Veradittakit cited growing institutional interest in crypto as one of the primary reasons why his company …

Two years ago, venture capitalist and noted Bitcoin investor Tim Draper publicly stated that Bitcoin will hit $250,000 by 2022. Yet, as Bitcoin continues to gain interest from investors, Draper revealed to Cointelegraph during an interview that a $250,000 price prediction may have been conservative: “I think it’ll certainly hit that. But a lot of people are thinking that $250,000 was a little too conservative." Draper also discussed the impact of the COVID-19 pandemic on the blockchain space, noting that tokenization will play a major role in solving problems related to global shipping and real estate. Additionally, Draper shared his …

Tim Draper, the prominent venture capitalist and tech billionaire who purchased nearly 30,000 Bitcoins (BTC) that were seized from the Silk Road, has revealed his digital currency holdings span at least half a dozen different crypto assets. Speaking at a recent investment conference, Draper revealed that his holdings include Bitcoin Cash (BCH), Ripple (XRP), Tezos (XTZ), and Aragon (ANT), adding: “I’m a believer. I think it’s happening – [adoption] it’s coming. It’s so important for the world, and I want the world to know it, and I want other people in the world to get on board.” Draper’s comments come …

Altcoin Bitcoin Cash (BCH) is plumbing new lows against Bitcoin (BTC) after crashing through fresh support. Data from price tickers including Cointelegraph Markets and CoinMarketCap confirm that BCH/BTC is now at its worst levels in Bitcoin Cash’s three-year history. BCH/BTC in “downward price discovery” At press time, 1 BCH bought just 0.022 BTC, 92.2% less than at its peak of 0.285 BTC in December 2017. BCH launched as an off-shoot from BTC in August the same year, at the time enjoying support from various industry figures and businesses. This subsequently began to wane as the altcoin’s popularity failed to compete …

Blockchain Center has compiled data for some of the biggest Bitcoin (BTC) hodlers — from the Winklevoss twins to various scammers and hackers, and even “zombie coins”. Allegedly, the twins own 150,000 BTC, which places them between the Bitfinex hackers, who own 120,000 BTC, and the Mt. Gox trustees who lay claim to 166,000 BTC. One spot above the latter is occupied by another notable scam — the Plus Token scammers, who allegedly hold 200,000 BTC. Tim Draper supposedly holds a paltry 30,000 BTC, which he acquired in a government auction of coins seized from Silk Road. "Zombie coins” are …

Tim Draper, a famous American venture capitalist and serial cryptocurrency investor, might not have promoted Bitcoin Cash after all. A hacker appears responsible for a Sept. 4 tweet from Draper stating that he had recently purchased Bitcoin Cash (BCH) that personally thanked Roger Ver. Though the account “Draper” used to tag the Bitcoin.com founder was a Ver imposter profile, the BCH proponent still thanked him for the push the same day. After the tweet was deleted, OpenNode co-founder João Almeida confirmed on Sept. 6 that Draper’s account had been compromised. Draper invested in OpenNode’s seed investment round in 2018. “I …

Sen. Kamala Harris, who was recently chosen to be U.S. presidential candidate Joe Biden's running mate, may not be crypto savvy yet, but Tim Draper believes she can learn. Harris is a native Californian whose political career has largely focused on her home state. She served as San Francisco's District Attorney, and currently represents the state in the Senate. Draper comes from a political family; his grandfather served as the first U.S. ambassador to NATO. Draper himself has been active politically as well. In 2014, he filed a petition to split California into six smaller states. Cointelegraph asked Draper about …

Securing seed money for blockchain startups is a tricky business in normal times, but with a pandemic raging, it’s really touch-and-go. Private investors have been walking away from startup deals lately, looking to conserve working capital in uncertain economic times. But fortuitously, governments and government-like entities have been rushing in to fill the gaps. Richard Fetyko, founder of altFINS — a blockchain startup that enables crypto investors to screen, analyze and trade digital assets across exchanges — told Cointelegraph that he had an investor lined up to provide development and launch funding for the platform, “but then Covid rolled in.” …

Famed Silicon Valley and crypto investor Tim Draper believes that distributed ledger technology is transforming the art industry. Speaking to Cointelegraph, Draper emphasized the benefits that many of the core utilities of DLT offer to the art sector, such as immutability, transparency, and traceability: “People are going to be able to tokenize their art, and that will make buyers of art more secure in their purchase decision, and make artists happier about knowing where their art is and who owns it.” Fractional ownership disrupts art industry Draper also noted the emergence of “a cottage industry growing for people to own …