Justin Sun accused of money laundering – July 26

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Current Bitcoin Price$9,793

The cryptocurrency market is down 1.5% today. Bitcoin and Ethereum are down 2%, while XRP has refused to budge. In the top-20, just a few coins are in the green — Bitcoin Cash and Cardano, for example — while the rest are down between 0% and 4%.

Top Stories for 26th July 2019 🔥

👉 Justin Sun accused of money laundering

At this point, TRON founder and CEO Justin Sun needs no introduction. He’s made it onto the newsletter three days in a row, and controversies surrounding his business practices are only growing.

The 21st Century Business Herald, a Chinese media outlet, has accused Justin Sun of money laundering. In an open article, the publisher also accuses Sun of illegal fundraising (with the TRON ICO back in 2017) and aiding the pornography industry (with his Snapchat-like app, Peiwo).

👉 IOTA Foundation commits $5 million to Coordicide research

The IOTA Foundation is a non-profit organization that dedicates itself to the development of IOTA, a popular, DAG-based cryptocurrency. Currently, one of the biggest challenges IOTA developers are facing is removing the need for a centralized transaction Coordinator.

The foundation has put up $5 million towards academic research into the Coordicide — the term given to the process of removing IOTA’s Coordinator.

👉 New Jersey man faces 5 years imprisonment for selling Bitcoin

A New Jersey man decided to set up his own, home cryptocurrency vendor with the surge of the cryptocurrency industry. He’s sold more than $2 million in Bitcoin to date.

However, the seller now faces up to five years in federal prison — as well as a $250,000 fine — for not registering his business with the Secretary of the Treasury.