Hodler's Digest, August 13-19: Joseph Lubin Embraces Crypto Bubbles, While Playboy Gets Impatient for Blockchain

Joseph Lubin, the co-founder of Ethereum and ConsenSys, said in an interview this week that he doesn't believe that crypto market slumps prevent further growth.

Playboy Enterprises is suing Canadian firm Global Blockchain Technologies, alleging that it failed to integrate blockchain technology into Playboy's online media channels.

Playboy had announced in March its plans to develop an online wallet that would enable customers to use crypto and support the Vice Industry Token, with GBT announcing its participation in May. In the lawsuit, Playboy said that the firm not only failed to fulfill the requirements of their agreement to implement blockchain tech, but also omitted a promised payment of $4 million.

Japanese messaging giant LINE has announced the creation of a $10 million blockchain venture fund as part of its expansion into the cryptocurrency market.

According to the announcement, the impetus to explore blockchain came as a response to market demand.

Cryptocurrency trading platform SFOX has announced the closure of a $22.7 million Series A funding round with participation from Airbnb co-founder Nathan Blecharczyk, along with Y Combinator, Khosla Ventures, Digital Currency Group, and Blockchain Capital.

Enterprise-focused blockchain startup Axoni has raised $32 million in a Series B funding round led by Goldman Sachs and Nyca Partners, with numerous other investors including Wells Fargo, JPMorgan, Citigroup, and Andreessen Horowitz.

The U.S. Securities and Exchange Commission has intensified its probe into crypto mining firm Blockchain Riot, a former biotech firm that changed its name to contain the word "Blockchain" last year.

U.S.-based graphics processing unit manufacturer Nvidia stocks fell after announcing its third-quarter estimates, as the firm's revenue was affected by a decrease in crypto mining as crypto markets have been falling.

According to Weiwei, blockchain "Is not about the technology, but an opportunity to set up a new system that could dismantle the old system, or at least offer a new possibility for communication."