This Week In Crypto:
Craig Wright, a man who claimed to be the the pseudonymous Satoshi Nakamoto, the creator of bitcoin, is being sued for billions of dollars. In this lawsuit it is alleged that Craig Wright and a man named David Kleiman jointly owned an amount of bitcoin valued at over 10 billion USD and that Wright had been stealing this bitcoin from Kleiman. After his death, Kleiman’s family filed this lawsuit against Craig Wright. Many believe this lawsuit will finally verify Wright’s claim and unmask the mysterious creator of bitcoin once and for all.
Britain’s first cryptocurrency, Electroneum, exhibited at the Mobile World Congress this week. The Mobile World Congress is the largest gathering in the world for the mobile industry. Electroneum announced big plans, including a mobile app for mining the cryptocurrency, to be launched on Monday, the 5th of March, as well as a partnership with HitBTC, a top cryptocurrency exchange.
Petro, the first state-issued cryptocurrency hosted a pre-sale last week. Petro is a cryptocurrency backed by Venezuelan oil reserves being launched in hopes of easing Venezuela’s financial crisis. The Venezuelan government claims over 700 million USD worth of tokens were sold during the first day, yet provides no proof to back up this figure. Tokens sold in this pre-sale will be able to be exchanged for Petro after its launch. Prior to what was previously believed, the token will not be a smart contract on the Ethereum platform, leading to much confusion during the sale. Several imitation tokens emerged during this time attempting to scam people trying to participate in the Petro pre-sale. Thanks for reading.
See you next week!
Satoshi Pearson
