Inner Conflict May Lead to MakerDAO Execs Lay Off

As reported, the confrontation was initiated by the decision of the current head of the MakerDAO to establish total control over the $200M development fund
26 April 2019   2052

Founder of MakerDao and CEO of MakerDAO Ecosystem Growth Foundation (MEGF) Rune Christensen attempted to usurp power and impose his vision for the further development of the project to the detriment of decentralization, reports The Block, citing informed sources.

So, some time ago, an opposition faction called “Purple Tablet” [chat name in Signal messenger] was formed inside the project, headed by former business development director Ashley Sharp, who plans to sue MakerDAO and recover $ 1 million. Against the background of the conflict with Christensen, the project was also left by Andy Milenius CTO.

The confrontation was initiated by the decision of the current head of the MakerDAO to establish total control over the $ 200 million worth development fund, which was previously supervised by several parties, each of whom had a unique access key, without which the others could not use the funds.

At the same time, CoinDesk had a letter signed by lawyer Andrew Pullinger from Campbells in the Cayman Islands, claiming that five of the nine members of the board of directors were pressured by Christensen, who demanded their resignation. Nevertheless, it remains unclear whether he has reached his goal.

Leaked Letter Exposes Infig... by on Scribd

The Block sources claim that MEGF has already acquired a broker-dealer and intends to launch a commercial division in the format of an alternative trading system (ATS).

Note that MEGF controls 30% of all MKR tokens, and the total market capitalization of MKR and DAI at present reaches $ 660 million.

BitPay to Add Ethereum Support

The company will implement Ethereum support on BitPay Visa prepaid debit cards and allow merchants to accept coin as a mean of payment
17 September 2019   231

BitPay cryptocurrency processing will add support for Ethereum in the coming weeks. Merchants will be able to accept a coin as payment, and users can store it in their wallet.

BitPay is consistently at the forefront of using cryptocurrency to solve real-world problems and offer our global customers the best options to accept and pay with multiple blockchain assets. As one of the largest crypto currencies by market cap and one used by thousands of companies, Ethereum is the next logical choice.
 

Stephen Pair

CEO of BitPay

The company will also implement Ethereum support on BitPay Visa prepaid debit cards.

It is exciting to see BitPay leading the way in integrating Ethereum into global payment systems. This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real world use cases for cryptocurrencies.
 

Vitalik Buterin
Founder and creator, Ethereum

At the moment, the service supports Bitcoin and Bitcoin Cash, and also offers merchants settlements in stablecodes USDC, GUSD and PAX and 12 world currencies.