Curating the Internet: Business, leadership, and management micro-summaries for October 3, 2019

12 months ago
5 Min Read
1026 Words

Coinbase announces interest payments for USDC tokens; Former Nicehash CTO arrested on hacking charges; Verizon sold MapQuest web and mobile properties; An enterpreneur's journey from door man to $3 billion hotel founder; OpenLedger discontinues Steem and SBD support - abruptly

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  1. Start earning crypto rewards on Coinbase today - Coinbase says that eligible US customers can start earning 1.25% APR for holding their USDC stablecoin. The ERC-20 token is backed by a reserve asset, and is always redeemable for one US dollar. According to the post, "It has both the functional benefits of crypto — you can instantaneously send it anywhere for free and hold it without a financial intermediary — along with the stability that the US dollar backing provides." And, "It’s also free to buy USD Coins with a bank account, and Coinbase customers can convert their USD Coins into any supported cryptocurrencies available on or withdraw in US dollars anytime."

  2. Former NiceHash CTO Arrested in Germany Over US Hacking Charges - He was apprehended by German police on Monday, and US police have released a warrant for extradition. Matjaz Skorjanec has been wanted in the United States since 2011, and is believed to have founded and operated, "the cybercrime forum Darkode from 2008 to 2013." He already spent 5 years in prison in Ukraine for playing a role in the Mariposa botnet, which infected 1 million computers and caused about $4 million in damages. His father, Martin Škorjanc, is the CEO of H-Bit, Nicehash's parent firm. The elder Škorjanc confirmed his son's arrest while arguing that there is no International precedent for a person to serve two sentences in different countries for the same crime.

  3. Verizon has sold mapping service MapQuest as the telecom giant continues to trim its media investments - Verizon acquired MapQuest as part of its $4.4 billion purchase of AOL in 2015. Now the Internet property has been sold to Venice, Calif.-based ad-tech firm System1 for an undisclosed amount. Verizon says the firm is acquiring the, "website, mobile apps and enterprise business from the Verizon Location Technology arm." Mapquest currently controls about 8% of the relevant advertising market, while Google Maps controls 67% and Waze controls 12%.

  4. How This Entrepreneur Went from Door Man to Running a $3 Billion Hotel Empire - Hotel owner, Alan Fuerstman, began his career as a door man while working week-ends in New Jersey. In a recent interview, some themes emerged to explain his success:
    (i) He gained experience early; (ii) He didn't say "no" to extra work; (iii) He took work seriously; (iv) He chose work after college, instead of more school; (v) He learned the business; (vi) He learned the psychology of leading and serving; and (vii) He raised capital and took a risk.

  5. STEEM OpenLedger disabled STEEM/SBD withdrawal - OpenLedger announced on August 6 that they were discontinuing support for STEEM/SBD, and gave customers a deadline of August 19 to withdraw assets. Obviously, this notification window is far too short, and the communication method was insufficient, so some are saying that it was a scam. Now, the @openledger-dex wallet has been emptied, and anyone who happened to miss the announcement seems to have been fleeced. In comments, @blocktrades advises, "I just withdrew 230 OPEN.USDT, I advise you to do the same for any other open assets you might hold...". Lucky for me, I withdrew everything from OpenLedger some months ago, when I couldn't find a way to withdraw my Gridcoin tokens. (A 10% beneficiary setting has been applied to this post for @abit.)

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