Blockchain technology continues to make headlines, with recent news covering investment, fraud, and philanthropy.
Enza Coin, a Bitcoin-focused investor and content creator, shared in a recent opinion editorial her struggles with investing in Bitcoin in 2010. Despite her interest, she could not find enough information and faced technical difficulties. Her then-boyfriend dismissed Bitcoin as something for scammers and prostitutes, leading her to invest in other equities instead. Coin later started her Bitcoin journey in 2019 and reflected on her past investments and experiences.
Meanwhile, Reginald Fowler, former co-owner of the Minnesota Vikings, has been sentenced to 75 months in prison for processing $750m in cryptocurrency transactions while lying to banks and defrauding customers. His company, Global Trading Solution, did not have the required license for a money transmitting business. Fowler’s charges highlight the growing trend of cryptocurrency-related crime and fraud.
On a more positive note, Vitalik Buterin and Sandeep Nailwal, co-founders of Ethereum and Polygon, have pledged $100 million to support COVID-19 research and relief efforts in India. The funds will go directly to researchers and will be donated through Crypto Relief, which is upgrading into a long-term strategic fund for healthcare donations in India. Buterin previously donated $1.5 billion worth of cryptocurrencies to non-profit organizations, including over $1 billion worth of Shiba Inu coin to aid India’s fight against COVID-19.
These recent developments in the blockchain industry show the potential for investment, but also the importance of regulation and philanthropy. As the technology continues to evolve, it is crucial to learn from past mistakes and strive towards responsible and impactful use.