The Crypto Roundup: 10 June 2024

Latest price and news from the crypto space

Latest price from our hand picked list of digital assets

Today’s top headlines in the crypto roundup: the Kin Foundation launches a fund to take on the SEC; a number of high-profile names in the crypto industry confirm job moves, and JPMorgan adds and open sources privacy features to Ethereum-based Quorum blockchain.

After many consecutive days in the green, the cryptocurrency markets have consolidated over the past 24 hours. At the time of writing, Bitcoin (BTC) and Ether (ETH) are trading at $8,494.0 (-2.6%) and $262.8 (-2.2%), respectively.

The MVIS CryptoCompare Digital Assets 10 Index, is currently at 4,121.2 (-4.0%).

Kin Prepares for Legal Showdown with SEC and Raises ‘Defend Crypto’ Fund

The Kin Foundation – the Kik-owned entity organising the development of the Kin blockchain protocol – launched a crowdfunding initiative to support a (potential) court battle with the U.S. Securities and Exchange Commission (SEC) in relation to its near-$100 million initial coin offering (ICO) from late 2017.

The Kin Foundation’s fund – dubbed Defend Crypto – includes $5 million of its own capital in the form of bitcoin (BTC), ether (ETH), and Kin (KIN). According to its website, Defend Crypto counts Circle, ShapeShift, Messari, Arrington XRP Capital, Fight for the Future, and the Kin Foundation as supporters. Interestingly, Coinbase has been removed as a Defend Crypto supporter at some stage over the past 24 hours.

Headhunters Mix Up the Crypto Industry Talent Pool

The crypto industry saw a big shakeup in the talent pool with several high profile employees moving jobs. Tim Plakas has left his job at Coinbase – where he previously led the over-the-counter (OTC) desk – to work in the OTC unit of Galaxy Digital, the investment management company owned by Mike Novogratz.

Blockchain Capital – a leading venture capital firm within the industry – announced the hiring of serial entrepreneur and investor Ben Davenport as a venture partner. Davenport is the co-founder and former chief technology officer of BitGo.

Finally, top cryptocurrency wallet provider Blockchain.com recently lost its head of institutional sales and strategy, Breanne Madigan, to Ripple Labs. Prior to joining Blockchain.com in April 2018, Madigan served as Goldman Sachs’ head of institutional wealth services. Her role at Ripple will be to lead its global institutional markets team.

JP Morgan Adds & Open Sources Privacy Features to Ethereum-Based Quorum Blockchain

JPMorgan Chase has built an extended implementation of Zether. A cryptographic protocol for confidential payments, Zether was initially proposed by researchers from Stanford University and Visa’s research arm.

This implementation will likely be used by JPMorgan’s Quorum, an enterprise-focused version of Ethereum. In what many see as a win for the cryptocurrency ecosystem, the U.S.-headquartered banking giant has open-sourced its anonymous extension of the Zether protocol.

InnovaMine: Mine, Trade and Make Profit in One Place

InnovaMine is an online platform which allows users to mine and trade Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. The platform offers mining contracts for the SHA 256, Script, and Ethash algorithms.

The four mining plans come with the following specifications:

Bitcoin Mining Contract – min. hashrate of 1.3TH/s, Antminer s15 hardware, producing up to $153.84 worth of BTC per 10TH/s.
Ethereum Mining contract – min. hashrate of 5MH/s, Innova Mine GPU Rigs hardware, producing $40.00 worth of ETH per MH/s.
Litecoin Mining contract – min. hashrate of 30MH/s, Antminer 1.3 hardware, mining coins of $6.66 per 10 MH/s.
Bitcoin Cash contract – min. hashrate of 5 TH/s, Antminer s9 and s15 hardware, generating coins of up to $153.84 per 10 TH/s.

The contracts are active for two years, with the price including the fees for maintenance. Payouts are made automatically in the selected cryptocurrency.

In addition to mining contracts, Innovamine.io also serves as a trading platform on which users can trade using Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. Soon, the platform will expand its list of available digital coins to cater to different types of crypto traders.

The platform’s intuitive dashboard makes it easy for anyone to start trading, with the profits made from the commissions incurred by the trading system being distributed to the miners.

InnovaMine also features an affiliate program which rewards users for referrals. Affiliate members are eligible to earn a commission of 5% if they refer their friends or site visitors (if they happen to have their own site or blog) to InnovaMine.

InnovaMine aims to serve both the mining and trading community. Its main goal is to ensure the profit of all its users, which is showcased in its unique distribution system of trading commissions.