German Authorities to Sell $14M Worth Crypto Due to Risks

The Bavarian Public Prosecutor's Office issued an order to sell the seized cryptocurrency; main reason - price drop risk
29 May 2018   621

Concerns over the possibility of a further decline in the prices of digital assets forced the German authorities to sell the confiscated bitcoins and other crypto-currencies for an amount equivalent to $ 14 million, CoinDesk reports.

The Bavarian Public Prosecutor's Office issued an order to sell the seized cryptocurrency on February 20, when the bitcoin rate returned to $ 10,000 after reaching a minimum below $ 6,000.

The liquidation of the cryptocurrency took about two months. A total of 1,312 bitcoins, 1 399 Bitcoin Cash, 1 312 Bitcoin Gold and 220 Ethereum were sold for 1,600 transactions through the German trading platform.

All crypto coins were confiscated during two ongoing investigations of Bavarian law enforcement agencies dealing with cyber security. Although the charges in these cases have not been brought to the present time, German laws allow the liquidation of confiscated assets if there is a risk of their loss.

Since all cryptocurrencies are exposed to the risk of high price fluctuations or even total loss, the Bayern Central Office of Cybercrime ordered an emergency sale.
 

German state prosecutors 

As the department will dispose of the proceeds, it is still unknown, since the final decision on the cases was not rendered.

EOS to Buy $30M Worth Domain For Its Social Network

Earlier, CEO reported that his company will spent about $150M to develop Voice, and looks like "voice.com" purchase for $30M is one of the first steps
19 June 2019   109

The Block.One company, known for developing the EOS blockchain protocol, acquired a domain for its new social network Voice for $ 30 million. This is evidenced by documents published on the website of the US Securities and Exchange Commission (SEC).

Documents were provided by MicroStrategy, an analytical and mobile software provider. It follows the “voice.com” domain, registered in the GoDaddy domain name registry, was transferred to the EOS developer on May 30, 2019. After 2 days, Block.One officially announced preparations for the launch of a social network.

Block.one has made a smart strategic decision in choosing Voice.com to be the internet domain name for its new social media platform. The word ‘voice’ is simple and universally understood. It’s also ubiquitous — as a search term, it returns billions of results on the internet. An ultra-premium domain name like Voice.com can help a company achieve instant brand recognition, ignite a business, and massively accelerate value creation.
 

Marge Breya 

Senior Executive Vice President and Chief Marketing Officer, MicroStrategy Incorporated. 

The commercial model of MicroStrategy is based, among other things, on the accumulation and sale of such expensive domain names.

According to Block.One, the identification of users and the use of the EOS blockchain in the social network will help to avoid the massive influx of bots, which often affect other members of this niche. Earlier, CEO Block.One Brendan Blamer reported that his company spent about $ 150 million to develop Voice.