Tezos Price Surges 57% in Days as Coinbase Fuels Another Crypto Rally

The week is ending on a hugely positive note for the Tezos cryptocurrency. Tezos Races Ahead of Wider Crypto Market The blockchain project’s native asset XTZ today established a new weekly high towards $ 1.08 – up more than 17 percent in the last 24 hours. The latest push also brought the coin’s weekly gains to 57 percent, bringing the price a few steps closer to its November 19 high at $ 1.09. No other top-20 cryptocurrency came close to matching the breakneck Tezos rally. Volume-wise, crypto exchanges listing XTZ-enabled pairs reported trading activity worth a little above $ 8.2 million. Among those

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Coinbase Custody Launches Block Staking Program for Tezos

Coinbase Custody’s 60 institutional clients, who currently store around $ 600 million on the platform, will be able to stake or “bake” Tezos (XTZ). Staking or baking dividends are akin to interest in the regular world. By holding tokens and putting them up for stake, new blocks get minted. The larger your coin stash, the better your odds of finding a block. Earning Interest by Minting Blocks Proof-of-stake is one of two primary models for cryptocurrencies, the first and most successful having been proof-of-work. A version of proof-of-stake called delegated proof-of-stake is present in platforms like Tron. Ethereum will be moving

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Trading Sanctions Imposed on Tezos Co-Founder Amid FINRA Settlement (news.bitcoin.com)

The Financial Industry Regulatory Authority (FINRA), has taken action against Tezos co-founder Arthur Breitman. The Wall Street regulator has fined Mr. Breitman $ 20,000 USD, banning Tezos from associating with broker-dealers for two years. It’s part of a settlement following FINRA’s accusations that the crypto company’s co-founder made false statements regarding the project whilst employed at Morgan Stanley.
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Tezos Foundation Adds Four New Members, Paving Way for Platform Launch (bitcoinmagazine.com)

Tezos Foundation, the Zug, Switzerland-based nonprofit that governs the now $ 1 billion worth of assets for Tezos, a blockchain project that has yet to launch, just added to its board four new members: Olaf Carlson-Wee, Pascal Cléré, Marylene Micheloud and Hubertus Thonhauser. In addition to the two new members announced last week

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Senior Figures Clash as the Tezos ICO War Heats Up (news.bitcoin.com)

Tezos, last year’s most notorious ICO, is back in the news and once again it’s for all the wrong reasons. The blockchain project, with its promise of decentralized governance, was hailed as a paragon of success after raising $ 232 million in 2017. Then, things turned ugly and have stayed that way ever since. In addition to facing two lawsuits, Tezos is riddled with in-fighting at the highest level. This week, the foundation’s president, Johann Gevers, was accused of operating a

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Tezos Founders Seek Bail-Out From Foundation (news.bitcoin.com)

Following mounting lawsuits, the founders of Tezos are seeking for their legal costs to be covered by the Swiss-based foundation tasked with managing the funds generated through the company’s ICO (initial coin offering). If successful, the Tezos founders will be using the funds of the very ICO participants that sued the company to pay for their legal expenses.
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Lawyer Argues Tezos Suit “Should Be Heard in Switzerland” (news.bitcoin.com)

Drew Hinkes, a miami-based partner at legal firm Berger and Singermann has discussed the legal dispute over the approximately $ 232 million USD raised by the Tezos ICO. Last month, news.Bitcoin.com reported that the founders of Tezos had entered into a legal battle with the chairman of a Swiss foundation comprising an independent third party

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