Invoice Shihara, founder and CEO of Bittrex crypto alternate, is becoming a member of the Board of Administrators for Seattle-based blockchain startup StormX.
In line with an announcement from StormX, the addition of Shihara to the board comes after the CEO invested “an undisclosed sum” within the firm’s newest fairness spherical. Nevertheless, Shihara was already an angel investor for the startup — initially based in 2015 as Bitmaker — and reportedly acted as certainly one of its ICO advisors.
StormX CEO Simon Yu cited Shihara’s expertise with Bittrex as one cause to be optimistic. Yu mentioned the Bittrex CEO’s “strategic recommendation and connections” may assist gas progress on the blockchain firm within the years forward.
Crypto cashback rewards
StormX’s StormShop service provides customers crypto rewards once they purchase from over 500 associate shops, together with eBay, Microsoft, Walmart, Goal, Samsung, and GameStop. After making a purchase order, customers have the choice of getting cryptocurrency again within the type of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) or Dai (DAI).
In line with StormX, those that select to make purchases with the platform’s native token STMX — which they’ll earn by doing jobs by StormX’s microtasks platform — get “further perks” together with “as much as 87.5%” crypto cashback.
The corporate mentioned that almost 200,000 folks have signed up since March, when StormX began offering new services for iOS and Android customers. STMX has a market capitalization of $13.2 million and is priced at $0.0019, an almost 50% drop since mid-June.
Bittrex dealing with authorized challenges
Bittrex is at the moment named as one of the defendants in a class-action lawsuit initially filed in opposition to Tether and Bitfinex in October 2019. The Southern District of New York alleges that the crypto alternate — together with Poloniex — was in on a plan to inflate the availability of Tether (USDT) to drive up crypto costs in 2017.
The Plaintiffs accuse Bittrex of facilitating the coordination of huge purchase orders throughout a number of exchanges to create the phantasm of contemporary liquidity flooding into the markets.
— to cointelegraph.com