Crypto in the News – With Jeff Skilling and Bitmain’s IPO Failure

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Mainstream media featured crypto in a few ways this week, and while it wasn’t all bad, it still echoed the usual prejudices and inaccuracies we’ve come to expect. But, then anything involving Jeff Skilling is probably fair game. Read all about it in today’s Crypto in the News.

Crypto Calls for Skilling


The Financial Times covered former Enron CEO Jeff Skilling’s move into cryptocurrency with an unsurprisingly sneering tone, although to be fair it doesn’t look great when one of the world’s biggest scammers joins a sector known for pulling scams. It’s kind of like Lex Luther becoming CEO of a kryptonite mining firm – regardless of intent, it just doesn’t look good. The FT quotes “someone familiar with the matter” as saying that:

Skilling has met with individuals who specialize in cryptocurrency, blockchain and software development in recent weeks. In the cryptocurrency space, no one is going to care too much about Enron.

Whatever projects Skilling does or doesn’t get involved with, you can bet his name won’t exactly be shouted from the rooftops, and even if crypto has a short memory, the internet doesn’t.

Bitcoin Over WhatsApp


Staying the the UK, toilet paper replacement the Daily Express actually got something right when they shouted in capital letters that a crypto wallet is in the works that will allow users to send Bitcoin and other top coins via popular messaging services. Wuabit, which is about to roll out a test phase involving Bitcoin over WhatsApp, will integrate with the apps to provide a quick and easy way of sending crypto to your family and friends. The Express didn’t get everything right though:

The digital cash uses cryptography, a form of secret coding originating from the Second World War, to process transactions securely – and is untraceable.

It is completely untraceable except for, you know, the blockchain, which is publicly visible.

Bitmain’s IPO No-show


The New York Times reported on Bitmain’s failed IPO, which has sat at the back of the shelf at the Hong Kong Stock Exchange for the last six months among boxes full of Paul Blart: Mall Cop 2 DVDs, before being taken off and given back to Bitmain. The reporting is actually quite accurate and doesn’t slate crypto too much, except for stressing its volatility and frequent hacks, which is standard these days. A sign of things to come? Don’t get your hopes up.