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Charles Hoskinson to Airdrop Kanye Coin and Pierce Coin to Demonstrate Cardano’s Multi-Asset Standard

With the recent new announcements of US presidential candidates, Kanye West, and Brock Pierce, crypto venture capitalist, and former child star, Cardano’s Charles Hoskinson made new announcements.

Just one more day to go with the availability of participants being able to interact with the Shelley mainnet launched on June, 30; Charles Hoskinson, the founder, and CEO of Input Output (IOHK), the blockchain engineering firm behind the Cardano blockchain, took it to his “Ask me anything” (AMA) session on YouTube, addressing the recent news on the US Presidential candidates, Kanye West and Brock Pierce.

“If it’s not a joke, when Cardano has native assets, to demonstrate the power uniqueness of native assets, we will issue Kanye Coin, and the circulation will be 1 token for each vote that Kanye gets in the election.”

He added that they could be collector’s items and Cardano will airdrop them proportionally to all the ADA holders. “We wish you very well, Kanye,” he said.

Backing Kanye West’s wish to run for president is technology multi-billionaire Elon Musk, who tweeted a reply to Kanye’s post. He stipulated enthusiastically that the American rapper had his full support.

In addition to the Kanye Coin, Hoskinson mentioned that he is also old friends with crypto venture capitalist Brock Pierce, and he is committing to doing the same for Pierce. The Founder and CEO of IOHK mentioned that it is a good way of demonstrating how multi-asset standard works, and connections through real-life events. This will require an oracle, and Cardano will look to build one to get it running, hopefully before the election, said Hoskinson.

Charles Hoskinson’s Surprise AMA July 6, 2020 on YouTube.

The multi-asset standard is expected to be released within 120 days, as announced at the recent Cardano Virtual Summit Shelley Edition. The event was held on July 2-3, with a massive turnout of about 10,000 participants, according to Hoskinson.

“We got 120 days to kick it into overdrive, I don’t like to lose. I like to win. […] We have the momentum and the wins at our back, and if we really commit and push in with the community in the ecosystem, we’re going to wake up at the end of the year and it’s going to be inevitable and I’m going to be able to make that tweet—GG, V. Then, we go for number 1.”

To have a prediction market in place, Cardano could leverage the cFund, its technology ecosystem fund launched alongside Wave Financial, with investments made globally with a typical size of $250,000-$500,000. Participants can make predictions of which coin will have a higher circulation—Kanye Coin or Pierce Coin.

The fund will total in $20 million which will provide money for companies and projects in the Cardano ecosystem. IOHK will be committing to half of the fund, $10 million, while Wave will be raising the other half.

Cardano’s potential “own monetary policy”

According to Hoskinson, Cardano is likely to conduct two experiments, one on ERGO, and a likely a joint venture between ERGO and Emurgo, as the company is almost finished with its due diligence. The other experiment would be a basket coin, which is made up of a collection of pre-existing stablecoins, hold them on reserve on a cryptocurrency, and then use an oracle to “inject that basket on Cardano.”

The projects are still in their early days, and the stablecoin could be under its own monetary policy rather than the US dollar.

Brock Pierce For President, Crypto Venture Capitalist Announces Candidacy

Brock Pierce, the crypto venture capitalist, and former child star, has announced that he will be joining the presidential race in the 2020 US elections.

On July 5, Brock Pierce the entrepreneur and crypto venture capitalist announced his candidacy for President of the United States, running as an Independent in the November 3, 2020, Presidential election.

Pierce made the announcement himself through Twitter, stating, “I, Brock Pierce, am running for President of the United States of America.”

Brock Pierce is an entrepreneur and venture capitalist with a proven track record of founding disruptive businesses. He’s been credited with pioneering the market for digital currency and has raised more than $5 billion for companies he has founded. Pierce is the Chairman of the Bitcoin Foundation and co-founder of EOS Alliance, Blockchain Capital, Tether, and Mastercoin (first ICO).

“I’ve spent my life creating great things from nothing and I can help others do the same,” Pierce said. “Entrepreneurs are essential to the rebuilding of this nation that we love, and I’m running in this race because I know that together we can help build a pathway towards the rebirth of the America we love so much.”

Pierce was born and raised in Minnesota, was a child actor who became an entrepreneur at a very early age, then later became a well-recognized figure in technology and cryptocurrency. A staunch supporter of entrepreneurs and small businesses, he understands what it takes to build a business from the ground up.

Could Brock Pierce's Presidential Campaign Damage the Crypto Industry? Tether's Legal Troubles Resume

Brock Pierce’s run for President of the United States may have come at the wrong time, as the New York Supreme Court today ruled that Bitfinex and Tether must face up to allegations that they concealed the loss of commingled corporate and client funds amounting to over $850 million.

Brock Pierce, who is running for President as an independent on a pro-blockchain platform, is a well-known crypto venture capitalist and the creator of Tether. While no formal accusations of wrongdoing or fraud have been put forward against the crypto entrepreneur, in light of the ruling to face up to the ongoing claims that have been plaguing the stablecoin— it could be argued that Pierce may not be the best ambassador to bring legitimacy to cryptocurrency at this time.

Unlike Bitcoin and other cryptocurrencies, Tether was the first stablecoin which was reported to be backed one-to-one by real US dollars. Pierce helped create the stablecoin to allow more consumer access to the cryptocurrency market because unlike traditional dollars, it can be moved instantly while attempting to cash out a cryptocurrency, while using the traditional banking services can take days—if the banks support the service at all.

The Troubled Tale of Tether

The New York Supreme Court has found that one of the original cryptocurrency exchanges Bitfinex and its related stablecoin company Tether must face up to claims that they deliberately concealed the loss of $850 million in commingled corporate and client funds.

New York prosecutors have alleged that in April 2019—Bitfinex lost $850 million in client and corporate funds, and then used money from its affiliated stablecoin Tether, of which Pierce is the creator, to cover the $850 million in losses.

At the time New York Attorney General Letitia James, who brought the case to light, stated: “Our investigation has determined that the operators of the ‘Bitfinex’ trading platform, who also control the ‘tether’ virtual currency, have engaged in a cover-up to hide the apparent loss of $850 million dollars of co-mingled client and corporate funds. New York state has led the way in requiring virtual currency businesses to operate according to the law. And we will continue to stand up for investors and seek justice on their behalf when misled or cheated by any of these companies.”

IFinex, the company behind Bitfinex and Tether previously appealed to the court regarding fraud and taking funds from Tether to cover up the $850 million loss of funds resulting in the misled of information towards the investors in the state of New York. The NYAG argued that it was too early for the court to address jurisdictional questions during an ongoing investigation.

The New York State Supreme Court denied IFinex’s motion to dismiss the NYAG’s lawsuit that would prosecute Bitfinex under the Martin Act. The court decided that it has jurisdiction to rule over the case.

Bitfinex continues to assert that its funds were deposited with a Panamanian firm called Crypto Capital, and that the funds were seized by government authorities in various countries. The firm claims it has been working to recover the funds allegedly seized by the Portuguese, Polish and American governments.

The attorney general alleges a different version of events, one where Bitfinex handed over $850 million to third-party payments processor Crypto Capital to handle its customers-withdrawal requests. When the company failed to hold up its end of the bargain the attorney general believes the respondents tried to hide the losses—which leads to the allegation that new Tether stablecoins were created without any backing.

What about Brock Pierce?

So what does all this mean for Brock Pierce’s presidential campaign? Well, so far, he has not been mentioned in the court’s opinion—but is he really the man to bring legitimacy to the blockchain and cryptocurrency sector on a national scale with this investigation hanging over his creation?

Additionally, while Pierce is unlikely to win as he is not associated with either of the two major US political parties, his involvement with the first stablecoin Tether may be seen as a conflict of interest to the US Government’s development of a digital dollar—which would be a US dollar stablecoin completely backed by the Federal Reserve.

Should Pierce’s campaign show any signs of progress, the attacks he would receive from both major parties and Bitcoin-hating President Donald Trump could further damage the public reputation of Bitcoin and Crypto—which has unfortunately been viewed by many as simply a means to pay for illegal activities and products.

Regardless of progress, as the Supreme Court’s investigation into Tether heats up, Pierce will most likely be brought in for public questioning which would again muddy his name to the US public who are largely unaware of Tether and Bitfinex’s rocky path through the crypto sphere.

Brock Pierce's Presidential Campaign Enlists Akon as Chief Strategist

Crypto entrepreneur and world-famous R&B and hip-hop singer Akon has announced that he will be endorsing Brock Pierce’s presidential election campaign and joining the crypto venture capitalist’s campaign team.

The Grammy-nominated artist is enthusiastic about this new partnership and will be serving as the chief strategist for Pierce’s campaign this election year. US Presidential election day is to be held on Tuesday, November 3 this year.

Brock Pierce for President

Brock Pierce’s announcement to run for president means big things for the crypto industry, as the former child star is a prominent influence in the world of technology and cryptocurrency. Being a huge entrepreneur himself, Brock Pierce has a track record of building companies up from scratch. In 2018, the former actor of Disney film “The Mighty Ducks” even made it onto Forbes list for wealthiest crypto investors in the world. According to a report by J.D. Durkin, the Bitcoin (BTC) billionaire disclosed his intentions behind running for president, during his campaign announcement:

“Entrepreneurs are essential to the rebuilding of this nation that we love, and I’m running in this race because I know that together we can help build a pathway towards the rebirth of the America we love so much.”

Brittany Kaiser, known for being the official whistleblower behind the Cambridge Analytica scandal of Facebook that erupted and helped the Trump campaign in 2016, touted Brock Pierce’s horn and said that it was “a breath of fresh air to have someone who has spent their life really understanding technology” running for President of the United States. A strong blockchain advocate, Kaiser vouched for Pierce and said that the crypto entrepreneur not only understood how to improve systems to make them more effective, but he also had a unique vision for creating a more inclusive, wholesome political platform.

Crypto Entrepreneur Akon to Build Akon City

Both Brock Pierce and Akon are happy to be collaborating for the crypto venture capitalist’s Presidential election run.

Akon, a huge crypto entrepreneur himself who is currently working on a massive crypto project in Senegal, seems to be the perfect chief strategist for Pierce, as they both have similar visions for crypto’s future. The Grammy-nominated singer and crypto philanthropist has been actively building a futuristic crypto city in Senegal. The crypto-run city, dubbed “Akon City” is to run on its full-fledged official cryptocurrency Akoin, as per the whitepaper released by Akon. Akon City will include a mall, a complex, a police station, residential units, hotels, a police station, a hospital campus, and more.

‘I Have a Dream’ – Akon and Brock Pierce

The addition of Akon to Pierce’s presidential campaign run may mean huge things for the cryptocurrency industry, as the spotlight will most definitely shine on digital assets and the benefits of blockchain for the advancement of world economy.

In speaking about his newly appointed position as chief strategist for Brock Pierce, Akon affirmed that Brock Pierce is a “real people’s person and he doesn’t operate between party lines.” He also said that both Pierce and he had the “same dream of pushing America forward for everyone without showing favoritism to one particular base.”

Brock Pierce and Blockchain Capital Sue Florida-Based Company for Copyright Infringement

Brock Pierce and his business partners are suing Blockchain Capital Management LLC (BCM) for copyright infringement.

Together with Bart Stephens and Bradford Stephens, Brock Pierce co-founded Blockchain Capital in 2013. Blockchain Capital filed a complaint with the District Court of Florida against Blockchain Capital Management LLC for using the same name to conduct business. Though the latter thrived mainly in the financial sector, plaintiffs said that operating under the same name would bring about confusion in official documents and day-to-day transactions.

In the complaint, Blockchain Capital expressed that it would like BCM to remove Blockchain Capital from its title, as it was an infringement on the venture capital firm’s trademark. It also said that BCM and its founder Fareed Ifthikar had not responded to the venture capital company’s requests or to its letters, and consequently this led to the firm seeking legal action.

The San-Francisco based company is said to be one of the oldest blockchain venture firms in its industry, with a $13 million investment fund for Bitcoin (BTC) and more than 70 blockchain projects under its management. Through an initial coin offering (ICO), the company also managed to raise $150 million in 2018 as well.

It has been speculated that BCM will likely comply with Blockchain Capital’s requests, but at the time of writing, official details are still in the works.

Brock Pierce for President

Co-founder of Blockchain Capital—Brock Pierce—is a presidential hopeful and had previously announced his intentions to run as an Independent candidate in the 2020 US elections. Brock Pierce is a known venture capitalist and is reputed for being a successful entrepreneur, pioneering the market for cryptocurrency all the while. He has successfully raised more than $5 billion for venture capital firms he took under his wing. Speaking about his aspirations during his campaign announcement, Brock Pierce had said:

“Entrepreneurs are essential to the rebuilding of this nation that we love, and I’m running in this race because I know that together we can help build a pathway towards the rebirth of the America we love so much.”

Recently, the Blockchain Capital co-founder announced that he had recruited Akon as a chief strategist for his presidential campaign run. The Grammy-nominated artist is also quite a crypto pioneer himself, as he is working on building a cryptocurrency-run city in Senegal, dubbed Akon City.

Brock Pierce Served for Securities Fraud in Connection with His Blockchain Company Block.one During Electoral Campaign

Presidential hopeful Brock Pierce was served a court summons during his presidential campaign in front of his new headquarters in New York City today. US attorney James Koutoulas uploaded a video of when the class action caught Pierce by surprise.

During a presidential campaign run that marked the opening of his New York City headquarters, Block.one co-founder Pierce was served by James Koutoulas’ legal team with a class-action lawsuit against the blockchain company. Koutoulas, the CEO of Typhon Capital Management and the lead attorney in the legal case against Pierce and his colleagues, uploaded a video of the exact moment the Block.one co-founder was hit with the suit at the presidential rally. He tweeted:

“Our team served Brock Pierce for securities fraud at his rally in NYC. Pro tip – when you’re trying to avoid getting served for a multi B fraud case, maybe lay off outlandish presidential campaigns.”

Brock Pierce, a venture capitalist entrepreneur that had helped co-found a number of blockchain and crypto projects, such as Tether, Block.one, and Blockchain Capital was caught off-guard during his presidential rally. He was charged due to a securities fraud class action suit directed against his company, Block.one.

Block.one served a second time

Back in September 2019, the US Securities and Exchange Commission (SEC) had slapped a $24 million fine at blockchain company Block.one for conducting an unregistered initial coin offering (ICO) hosting EOS digital tokens in 2019. The ICO was estimated to be worth $4 billion. The blockchain company had agreed to settle the charges and pay the civil penalty, following the SEC’s sanctions.

However, the US Securities and Exchange Commission hit Pierce along with his other co-founders Daniel Larimer, Brendan Blumer, and Ian Grigg a second time with a class action complaint in relation to violations of the Federal Securities Law this May. The official legal notice served during Pierce’s presidential rally was filed on behalf of all investors that had bought EOS tokens or received them from June 2017 to the time of writing. It read:

“This action is brought on behalf of all investors who purchased securities issued by Block.one called ‘EOS Tokens’ (the ‘EOS Securities’) during the period of June 26, 2017, to the present (the ‘Class Period’).”

Led by Crypto Assets Opportunity Fund LLC, Johnny Hong in May, and brought upon by Koutoulas’ legal team recently, the document stipulated:

“This case arises out of a fraudulent scheme, fueled by a global frenzy over cryptocurrencies and unchecked human greed, to raise billions of dollars through sales of a cryptocurrency called EOS – an unregistered security – to investors in violation of the United States federal securities laws.”

Brock Pierce –what his candidacy means for tech and crypto

This comes at a crucial moment for the Tether co-founder. Brock Pierce had announced his plans to join the presidential race on a last-minute notice on July 5. Known to be a blockchain pioneer, a venture capitalist entrepreneur, and a firm crypto and technology advocate, Pierce’s plans to join the presidential run may mean significant things for the industry. With a proven track record for building businesses from the ground up, Pierce had previously publicly disclosed:

“I’ve spent my life creating great things from nothing and I can help others do the same. Entrepreneurs are essential to the rebuilding of this nation that we love, and I’m running in this race because I know that together we can help build a pathway towards the rebirth of the America we love so much.”

Trouble in crypto paradise

On top of his active involvement in the tech industry, Pierce had also been known for creating Tether, the first stablecoin that is backed one-to-one with USD.

However, in July, the New York Supreme Court had found that Tether stablecoin empire, along with coin exchange Bitfinex were alleged to have colluded in concealing the loss of corporate and client funds estimated to be over $850 million worth. In the federal court’s ruling, Brock Pierce was not mentioned.

However, in light of the crypto venture capitalist being served during his presidential rally earlier today, Brock Pierce’s name will most likely go through public scrutiny and criticism, as the presidential election is looming close. The US elections are currently set for November 3, 2020.