Category Archives: Mark Zuckerberg

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Zuckerberg’s Sister Becomes Huobi Adviser

Mark Zuckerberg’s older sister, Randi Zuckerberg, is now a member of the Huobi Chain Expert Advisory Committee, alongside other experts such as Jihan Wu, the CEO of Bitmain. Mark is the co-founder of Facebook, probably the biggest social media site in the world, and he personally has a net worth of USD 67.1 billion. Randi is a successful entrepreneur as well, she is the CEO of Zuckerberg Media, a content creation service headquartered in New York.

Huobi is one of the biggest crypto exchanges in the world. It is in the top 3 in terms of trading volume, alongside Binance and OKEx. It often has trading volume of USD 0.5-1 billion per day. The exchange was formerly headquartered in China and was the top exchange there, at a time when CNY to Bitcoin trading represented 90% of all fiat to Bitcoin trading. China made CNY to crypto trading illegal in the latter half of 2017, and Huobi was forced to move out of China but has survived and now is launching exchanges across the world.

Huobi is creating a decentralized exchange that will be built off of its own native blockchain, Huobi Chain. This is perhaps to ensure that the firm will always survive regardless of government regulations. This will be the first time a centralized crypto exchange of its stature transforms into a decentralized autonomous organization (DAO).

Huobi is offering 30 million Huobi Tokens, worth more than USD 100 million, to fund the development of Huobi Chain. It is giving the opportunity for experts across the crypto world to compete to build the best infrastructure for Huobi Chain, and Randi Zuckerberg will be on the committee in charge of curation. The Huobi Chain Expert Advisory Committee will give professional advice to developers and experts working to build the new blockchain and will advise the election phase of the Huobi Chain Superhero Championship Program.

 

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Winklevoss Twins Story ‘Bitcoin Billionaires’ Out Next Year, Movie Possibly to Follow

Publisher Little Brown is to release a biography about crypto twins Cameron and Tyler Winklevoss called “Bitcoin Billionaires”. The book, which is to be published both in the UK and US next year, has been bought by Richard Beswick, Little Brown’s publishing director.

The brothers, renowned in sporting circles as a rowing pair who competed for the US in the 2008 Beijing Olympics, are perhaps better known for suing Mark Zuckerberg in 2014 for supposedly stealing their Uconnect social networking concept which went on to become Facebook. The case netted them USD 65 million.

The book will follow their various travails through the Silk Road website, their dealings with the SEC and the Facebook affair. According to a spokesman from the publishing house, their dubious connection with Zuckerberg damaged their potential to be investable, as investors were concerned about “alienating their nemesis”. Little Brown promises it will take readers on “a wild and surprising ride while shining a bright light on an economic event that continues to baffle the average reader”.

Once, as Little Brown pointed out, a chance encounter in Ibiza drove them to realize that Facebook had become “establishment”, they moved on very quickly:

“If they wanted to be disrupters and make a true killing they needed to get in on the ground floor of a brand new idea: cryptocurrency. They started buying Bitcoin when it was USD 6 a coin – it is now trading at over USD 7,000 a coin.”

As a result, on 26 November 2017, the twins became the first Bitcoin billionaires.

This isn’t the first time that the Winklevoss twins have featured in a book by Ben Mezrich. It was his 2009 book, The Accidental Billionaires, which was adapted into the Academy Award Winning movie The Social Network with actor Armie Hammer playing both twins.

There is a rumor circulating that the book is already being considered for a movie deal after a report by the New York Post. The twins have also appeared on this year’s “40 under 40” fintech movers and shakers.

 

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Facebook Reportedly Considers Own Crypto, but First Blockchain

According to online media company Cheddar, an anonymous source has reported that social media juggernaut Facebook is considering creating its own cryptocurrency in order to simplify online payments.

This consideration, apparently with little regard to its recent banning of cryptocurrency advertising, is surprising given that insiders have claimed that the company has no plans to hold an initial coin offering (ICO) and will almost certainly not launch any cryptocurrency in the coming year.

What is more likely though, given that large companies are adopting blockchain technology in increasing numbers, is that Facebook takes this direction long before it considers its own cryptocurrency.

Early Bitcoin investor, Messenger’s David Marcus, who has overseen Facebook development since 2014, in a shakeup at Facebook HQ, now heads up group tasked with exploring blockchain technology on behalf of the company. It was reported that an internal post this week announced the company’s blockchain initiative to employees, although it was non-specific.

When questioned, Marcus, who has now joined the board at giant crypto exchange Coinbase, refuted any immediate plans to integrate cryptocurrency into the FB machinery, commenting:

“Payments using crypto right now is just very expensive, super slow, so the various communities running the different blockchains and the different assets need to fix all the issues, and then when we get there someday, maybe we’ll do something.”

Bridget van Kralingen, IBM’s senior vice president of global industries, platforms and blockchain, suggests: “It’s a technology that fits very well with some of the business model challenges that they’re actually facing, and I think they’re very right to take this very seriously.”

Facebook’s CEO Mark Zuckerberg last week ordered major administrative changes to the social network, giving more responsibility to his chief product officer and launching the blockchain division.

 

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