FreeCryptoCurrency.Me

Quick Take

• Online cryptocurrency lending platform, Cred, abruptly filed for chapter 11 bankruptcy protection in Delaware on November 7th, 2020.
• Initially known as Libra Credit, the company raised $26.4M with the LBA Token ICO in May 2018, only for the token to lose over 96% of its value since then. 
• There is a lot of recent controversy surrounding Cred’s affiliated entity, Cred Capital, which led to the firing of a Cred Executive who allegedly misappropriated $2M in digital assets.  
• Two ongoing California civil lawsuits allege different interpretations of Cred Capital’s intended structure, ownership and purpose.
• As for Cred Inc.’s bankruptcy, the Block Research followed the trail of online ‘bread crumbs’ and court filings to help paint a picture, albeit an opaque one.
• Only time can provide clarity, as more details become public.

This research piece is available to
members of The Block Genesis.
You can continue reading
this Genesis research on The Block.

Quick Take

• Several bitcoin metrics are reaching new all-time highs alongside strong price performance.
• Especially the bitcoin options market has seen strong growth — close to 500% in terms of aggregated volumes.

This research piece is available to
members of The Block Genesis.
You can continue reading
this Genesis research on The Block.

Join us on December 3rd at 12pm ET / 9am PT for a digital event with Larry Cermak exploring the rise of stablecoins. This discussion will share a comprehensive overview of stablecoins and why they will be a major driver in adoption in the next year. 

This is an exclusive event for members of The Block Research. Register for the event here.

In this event, we will explore:

• The history of stablecoins
• The major catalysts behind the growth of stablecoins
• A look at underlying data of stablecoins
• An overview of different stablecoin solutions and their niches
• Outlook on the future of stablecoins

This research piece is available to
members of The Block Genesis.
You can continue reading
this Genesis research on The Block.

Decentralized insurance protocol InsurAce has raised $1 million in a seed funding round.

The firm said in an announcement Tuesday that the round was led by DeFiance Capital, a crypto fund that’s focused on the decentralized finance space.

Other investors that participated in the round include ParaFi Capital, Huobi DeFiLabs, Hashed, Signum Capital and Lunex Ventures.

“We aim to build a decentralized insurance platform, providing carefree insurance services, and creating sustainable investment returns for our users,” Oliver Xie, founder and CEO of the protocol said in the release. 

According to Xie, the goal is to offer low-premium insurance and insured investment products in the DeFi space as hacks have been increasingly targeting at smart contracts that caused significant loss of funds. 

The protocol is also launching liquidity mining to boost its capital pool, Xie said. 

“Insurance is a critical component for the growth of any industry. For DeFi to reach mainstream adoption, we need a robust insurance market with multiple providers. As active users of DeFi protocols, we’re keen on supporting InsurAce develop user-centric solutions will allow users to capture the benefits of DeFi while minimizing the risks,” said Santiago Roel Santos, Partner at ParaFi Capital.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.