Category: Investment

  • MRHB DeFi Receives Strategic Investment from Mozaic, New World Group’s Technology Investment Arm | by Bit Media Buzz | Oct, 2021

    MRHB DeFi Receives Strategic Investment from Mozaic, New World Group’s Technology Investment Arm | by Bit Media Buzz | Oct, 2021

    [ad_1]

    Bit Media Buzz

    Mozaic focuses on investing in innovative tech companies seeking to re-invent their industry ecosystems — across emerging, growth and mature markets.

    London, United Kingdom — Oct 14th, 2021 — Community-focused DeFi platform MRHB DeFi has received a strategic investment from London-based investment platform Mozaic to support its transformative vision of bringing the value of the cryptoverse to financially excluded communities around the world. Mozaic is part of New World Group — a global diversified investment company with more than USD 2.5 Billion of group assets-under-management.

    The UK presents a key opportunity to nurture a financially inclusive cryptoverse and this investment is aimed at expanding the reach of MRHB DeFi beyond its core Asia and Middle East base to support the engagement of new UK users and communities who are seeking a more ethical and or faith-based approach to crypto market participation.

    “With a current market capitalisation of USD 2 trillion and growing — the crypto asset space represents an exciting growth opportunity for us and MRHB DeFi’s focus on ethical and inclusive finance resonates strongly with Mozaic’s investment thesis,” says New World Group Partner Sonny Gupta.

    “The strength and commitment of the MRHB team made them natural partners for our inaugural investment into the decentralised finance sector,” he adds.

    “Mozaic’s investment focus on robust and scalable technology businesses with a mindset of long-term value creation, made them natural partners for us as we build the world’s first ethical DeFi platform” says MRHB DeFi CEO Naquib Mohammed.

    “The UK represents a key strategic investor community for MRHB DeFi — and one which we hope to engage better with high quality institutional partners,” he also notes.

    MRHB DeFi was founded with a vision of providing greater access to excluded and cautious communities to the growing opportunities and utilities of the cryptoverse, and has a particular focus on delivering faith-based DeFi services which adhere to the ethical investment and financing principles rooted in Islamic Finance, many of which align with the United Nations Sustainable Development Goals. Such business practices include those that avoid interest, usury, social exploitation and other acts deemed unethical as well as support sustainability, asset/utility backed financing, transparency and equitable risk/reward sharing.

    With the Islamic Finance industry sized at around USD 3 trillion of assets, bringing even a small portion of Shariah-sensitive liquidity into DeFi will represent a major boost to the total value of the DeFi sector worldwide.

    The investment from Mozaic follows investments from Contango Digital Assets, NewTribe Capital, Sheesha Finance, Acreditus Partners and other institutional investors.

    About MRHB DeFi

    MRHB DeFi is a decentralised finance platform built to bring ethics to the DeFi space with an approach that supports the inclusion of faith-based and other excluded communities in addition to existing crypto-natives so that everyone can benefit from the full empowerment potential of DeFi to help build a true peer-to-peer financial and economic value system.

    Based on the tenets of blockchain such as trust, transparency, and security, MRHB DeFi has encapsulated universally applicable principles of Islamic Finance into those tenets of blockchain to render a suite of offerings that are also ESG compliant.

    The project is backed by a diverse and strong team with backgrounds spanning crypto, technology, faith-compliant investing, finance and seasoned institutional veterans of industry. The public sale offering will be in December. Register your interest and read more about MRHB DeFi’s Shariah Concept Paper, Lite and White Paper here.

    MRHB DeFi Official Channels

    Website: https://marhabadefi.com

    Twitter: https://twitter.com/marhabadefi

    Telegram: https://t.me/mdf_official

    Telegram Announcements: https://t.me/marhabadefi_ANN

    YouTube: https://www.youtube.com/channel/UCHuvZG9DbS5ffeoqLX_bERg

    Medium: https://medium.com/@mrhbdefi

    LinkedIn: https://www.linkedin.com/company/marhabadefi

    Telegram (Arabic): https://t.me/mdf_arabic

    Telegram (Russian): https://t.me/mdf_russia

    Telegram (Turkish): https://t.me/MarhabaDefiTR

    About New World Group & Mozaic

    New World Group is a global diversified investment company with offices in London and Kuala Lumpur. The firm builds, acquires, invests, and scales businesses focusing on long-term growth. New World Group adds value to its partners and portfolio companies through origination and execution to value realisation.

    New World Group and its businesses, including Mozaic, take a global perspective across sectors in which they act as investors, operators and business builders with offices and partners across the world’s most exciting, high growth markets. The company has made 15+ investments to-date and manages more than USD 2.5 billion across 25 countries.

    Learn more about New World Group by visiting its official website.



    [ad_2]

    Source link

  • Ethereum Follows Bitcoin, Why ETH Could Surge Towards $4K

    Ethereum Follows Bitcoin, Why ETH Could Surge Towards $4K

    [ad_1]

    Ethereum started a fresh increase from the $3,400 support zone against the US Dollar. ETH price could accelerate higher once there is a clear break above $3,650.

    • Ethereum started a fresh increase above the $3,500 and $3,550 resistance levels.
    • The price is now trading above $3,550 and the 100 hourly simple moving average.
    • There was a break above a key bearish trend line with resistance near $3,500 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair could start a fresh rally if there is a clear break above $3,650 and $3,660.

    Ethereum Price Gains Pace

    Ethereum remained well supported above the $3,400 zone. ETH started a fresh increase above the $3,500 resistance zone and the 100 hourly simple moving average, similar to bitcoin.

    There was also a break above a key bearish trend line with resistance near $3,500 on the hourly chart of ETH/USD. The pair is now trading above the $3,550 resistance zone. Ether price even surpassed the $3,600 resistance zone.

    A high is formed near $3,656 and the price is now consolidating gains. It is well above the 23.6% Fib retracement level of the recent upward move from the $3,413 swing low to $3,656 high. The price is now showing positive signs above the $3,630. An immediate resistance on the upside is near the $3,650 level.

    Ethereum Price

    Source: ETHUSD on TradingView.com

    The next major resistance is near the $3,660 level, above which the price might start a fresh surge. In the stated case, the price could climb towards the $3,750 level. Any more gains could set the pace for a move towards the $4,000 level in the near term.

    Dips Limited in ETH?

    If ethereum fails to continue higher above the $3,650 and $3,660 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $3,600 level.

    The first key support is now forming near the $3,550 level. It is near the 50% Fib retracement level of the recent upward move from the $3,413 swing low to $3,656 high. If there is a downside break below the $3,550 and $3,535 support levels, the price could decline further. The next key support is near $3,450.

    Technical Indicators

    Hourly MACDThe MACD for ETH/USD is gaining pace in the bullish zone.

    Hourly RSIThe RSI for ETH/USD is now above the 60 level.

    Major Support Level – $3,550

    Major Resistance Level – $3,660

    [ad_2]

    Source link

  • Price analysis 10/13: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LUNA, UNI

    Price analysis 10/13: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LUNA, UNI

    [ad_1]

    Bitcoin remains strong above its recent breakout level, but several major altcoins are still under pressure until BTC reveals its next move.

    [ad_2]

    Source link

  • FROST: Flexible Round-Optimized Schnorr Threshold Signatures

    FROST: Flexible Round-Optimized Schnorr Threshold Signatures

    [ad_1]

    By Daniel Zhou

    FROST is a round-optimal threshold Schnorr signature protocol. Here we introduce why Coinbase decided to use FROST, what FROST is, and what we discovered while evaluating FROST.

    Why FROST?

    In order to improve efficiency of Coinbase’s threshold-signing systems, we decided to explore the FROST threshold Schnorr signature protocol, which features the following advantages over other Schnorr-based threshold signature protocols [GJKR03, SS01]:

    Low round complexity in both the distributed key-generation and signing phases. The distributed key generation phase can be completed in 2 rounds. The signing phase can be completed in less or equal to 3 rounds depending on whether we use a signature aggregator role and a preprocessing stage. That is,

    • 1-round signing with a trusted signature aggregator and a preprocessing stage.
    • 2-round signing with a trusted signature aggregator, but no preprocessing stage.
    • 3-round signing without a trusted signature aggregator and no preprocessing stage.

    Concurrent security. The signing phase is secure when performed concurrently. That is, an unlimited number of signature operations can be performed in parallel. In contrast with other threshold Schnorr signature protocols, there are existing Schnorr-based threshold signature protocols, such as [GJKR03, SS01], that have the same round complexity, but they suffer from limited concurrency to protect against the attack of Drijvers et al. [DEF19]. This attack was originally proposed in a Schnorr multi-signature n-out-of-n setting, but it also applies similarly in a threshold t-out-of-n setting with the same parameters for an adversary that controls up to t-1 participants. We refer readers to section 2.6 of the FROST draft for more details. To prevent this attack without limiting concurrency, FROST binds each participant’s response to a specific message as well as the set of participants and their set of elliptic curve (EC) points used for that particular signing operation. In doing so, combining responses over different messages or EC point pairs results in an invalid signature, thwarting attacks such as those of Drijvers, et al.

    Secure against dishonest majority. FROST is secure against adversaries which control up to t-1 signers in the signing phase.

    Simple cryptographic building blocks and assumptions. FROST is built upon the threshold Shamir secret sharing and Feldman verifiable secret sharing schemes and it relies only on the discrete logarithm assumption.

    How does FROST work?

    Before we introduce how FROST works, we first recall how the standalone Schnorr signature works.

    A Schnorr digital signature algorithm is a triple of algorithms: (KeyGen, Sign, Verify).

    Let G be a group generator of a cyclic group with prime order p, and let H be a cryptographic hash function mapping to the field Z. A Schnorr signature is generated over a message m by the following steps:

    KeyGen -> (sk, vk)

    • Randomly sample the secret key sk <- Zₚ.
    • Return (sk, vk = sk * G).

    Sign(sk, m) -> sig

    • Randomly sample a secret nonce k <- Zₚ.
    • R = k * G
    • c = H(m, R)
    • z = k + sk * c (mod p)
    • Return signature sig = (z, c)

    Verify(vk, m, sig) -> true/false

    • Parse sig = (z’, c’)
    • R’ = z * G -c * vk
    • c’ = H(m, R’)
    • Return true if c = c’, otherwise return false.

    We call (sk, vk) the secret and verification keys respectively. We call m the message being signed and sig the Schnorr digital signature.

    FROST is a threshold Schnorr signature protocol that contains two important components. First, n participants run a distributed key generation (DKG) protocol to generate a common verification key; at the end, each participant obtains a private secret key share and a public verification key share. Afterwards, any t-out-of-n participants can run a threshold signing protocol to collaboratively generate a valid Schnorr signature. The figure below gives a high-level sketch of how FROST works in the case of t = 3 and n = 5.

    (3, 5) — FROST DKG + Threshold Signing Overview

    In the following context, we introduce FROST distributed key generation and threshold signing in more technical details.

    FROST — distributed key generation (DKG). The secret signing key in Schnorr signature is an element in the field Zₚ. The goal of this phase is to generate long-lived secret key shares and a joint verification key. This phase is run by n participants. FROST builds its own key generation phase upon Pedersen’s DKG [GJKR03], in which it uses both Shamir secret sharing and Feldman’s verifiable secret sharing schemes as subroutines. In addition, FROST also requires each participant to demonstrate knowledge of their own secret by sending to other participants a zero-knowledge proof, which itself is a Schnorr signature. This additional step protects against rogue-key attacks in the setting where t ≥ n/2.

    At the end of the DKG protocol, a joint verification key vk is generated. Also, each participant Pᵢ holds a value (i, sk) that is their long-lived secret share and a verification key share vk = sk*G. Participant Pᵢ’s verification key share vk is used by other participants to verify the correctness of Pᵢ’s signature shares in the signing phase, while the verification key vk is used by external parties to verify signatures issued by the group.

    FROST — threshold signing. We now introduce the signing protocol for FROST. This phase builds upon known techniques that employ additive secret sharing and share conversion to non-interactively generate the nonce for each signature. This phase also leverages binding techniques to avoid known forgery attacks without limiting concurrency.

    Our implementation is slightly adapted from the FROST draft. In our implementation, we opted to not use the signature aggregator role. Instead, each participant is a signature aggregator. This design is more secure: all the participants of the protocol verify what others have computed to achieve a higher level of security and reduce risk. In contrast with other open source libraries, as far as we know, we are the first to implement FROST without the signature aggregator role. Furthermore, we have chosen not to do the (one-time) preprocessing stage in order to speed up the implementation. In the preprocessing stage, each participant prepares a fixed number of EC point pairs for further use, which is run for a single time for multiple threshold signing phases. However, we take this stage as an additional round and only prepare a single pair of EC points, which means we run it every time for each threshold signing phase. In more detail, there are two major differences between our implementation and the original draft.

    First, the signature aggregator, as described in the draft, validates messages that are broadcast by cosigners and computes the final signature. In our implementation, we do not use such a role. Instead, each participant simply performs a broadcast in place of a signature aggregator performing coordination. Note that FROST can be instantiated without such a signature aggregator as stressed in the draft. Also, implementing it in a decentralized way is more appropriate to Coinbase’s multiparty computation approach.

    Second, the protocol in the draft uses a preprocessing stage prior to signing, where each participant Pᵢ samples a sequence number, say Q, of single-use nonces (dᵢⱼ, eᵢⱼ), computes and broadcasts pairs of public points (Dᵢⱼ = dᵢⱼ*G, Eᵢⱼ = eᵢⱼ*G) for further use in subsequent signing rounds, where j = 1….Q. This preprocessing stage is a once-for-all stage. That is, each participant can prepare a fixed number of EC point pairs, say Q, and broadcast them to the signature aggregator, then the signature aggregator distributes these EC point pairs to all participants for further use. Once these pairs of EC points are used up, then these participants should run another preprocessing stage. Since we opted to not use such a signature aggregator role in our implementation, we have chosen instead to let each participant generate a single pair of EC points (D, E). Therefore, there is no preprocessing stage in our implementation and thus there are 3 rounds in our threshold signing phase instead of 2. Also note that whether our implementation contains the preprocessing stage or not simply depends on how many EC point pairs are generated in signing round 1. If each participant generates a Q number of EC point pairs in the signing round 1, then this round can be viewed as the preprocessing stage and our implementation becomes a 2-round signing protocol.

    We describe how these three signing rounds work and give some technical details.

    Signing Round 1. Each participant Pᵢ begins by generating a single private nonce pair (d, e) and corresponding pair of EC points (D, E) and broadcasts this pair of points to all other participants. Each participant stores these pairs of EC points received for use later. Signing rounds 2 and 3 are the actual operations in which t-out-of-n participants cooperate to create a valid Schnorr signature.

    Signing Round 2. To create a valid Schnorr signature, any t participants work together to execute this round. The core technique behind this round is t-out-of-t additive secret sharing. This technique creates the secret nonce k = SUM(k), which is the same value generated in the single-party Schnorr signing algorithm, and each kᵢ is the share computed by participant Pᵢ. To do this, each participant prepares the set of pairs of EC points B = (D, E)……(D, E) received in round 1, and then computes k = d+e*rᵢ , where r=H(i, m, B) and H is a hash function whose outputs are in the field Zₚ. Computing rᵢ is important since it works as a binding value for each participant to prevent the forgery attack. Then each participant computes the commitment R=D+E*rᵢ such that it binds the message m, the set of signing participants and each participant’s EC points to each signature share, such that signature shares for one message cannot be used for another. This prevents the forgery attack because attackers cannot combine signature shares across distinct signing operations or permute the set of signers or published points for each signer. The commitment for the set of signers is then simply R = SUM(R). As in single-party Schnorr signatures, each participant computes the challenge c = H(m, R).

    Having computed the challenge c, each participant is able to compute the response zᵢ to the challenge using the single-use nonces (d, e) and the long-term secret shares skᵢ, which are t-out-of-n (degree t-1) Shamir secret shares of the group’s long-lived key sk. One main observation that FROST leverages is that if kᵢ are additive shares of k, then each k/Lᵢ are t-out-of-n Shamir shares of k, where Lᵢ is the Lagrange coefficient for participant Pᵢ. That is, L = prod(i/(j-i)), where j = 1,…,t, j ≠i. This observation is due to the work by Benaloh and Leichter [BL88] and the work by Cramer, Damgaard and Ishai [CDI05]. They present a non-interactive mechanism for participants to locally convert additive shares generated via the Benaloh and Leichter t-out-of-n secret sharing construction to Shamir’s polynomial form. FROST uses the simplest t-out-of-t case of this transformation. Thus k/L+sk*c are degree t-1 Shamir secret shares of the correct response z = k+sk*c for a plain (single-party) Schnorr signature. Using share conversion again and the value each participant has computed (namely, k = d+e*rᵢ), we get that z=d+e*r+L*sk*c are t-out-of-t additive shares of z. At the end of signing round 2, each participant broadcasts zᵢ to other participants.

    Signing Round 3. After receiving zᵢ from all other participants, each participant checks the consistency of these reported zᵢ, with their pair of EC points (D, E) and their verification key share vkᵢ. This can be done by checking the equation z*G = R+c*L*vkᵢ. Once all zᵢ are valid, then each participant computes z = SUM(z) and output (z, c) as the final Schnorr signature. This signature will verify properly to any party unaware that FROST was used to generate the signature, and can check it with the standard single-party Schnorr verification equation with vk as the verification key. As we have mentioned, we do not use the signature aggregator role in our implementation. Thus, each participant works as a signature aggregator. Therefore, we let each participant self-verify its own signature before outputting it.

    Implementation Challenges

    We referred to some known FROST implementations: two Rust implementations — one by ZCash foundation and another by frost-dalek — but they are not appropriate to our tech stack. One Golang implementation is from the Taurus group, but unfortunately this Go implementation is not ready for production use and has not been externally audited. As a result, we decided to implement the protocol in-house.

    One feature of FROST signing is that each participant must know Lagrange coefficients for each participant in order to compute zᵢ. This is uncommon in other threshold signature protocols that use Feldman verifiable secret sharing as a sub-protocol, so there are few existing Go libraries to support THIS. Most existing libraries support generating secret shares, polynomials, and their interpolation, but do not support Lagrange coefficient computation. To fill in this technical gap, we implemented participants’ Lagrange coefficients given arbitrary t participant IDs as input. Before running the threshold signing protocol, it takes input IDs of the t participants and generates all Lagrange coefficients. As the FROST draft suggests, we assign these coefficients to each participant before signing to improve performance.

    Summary

    FROST is a flexible, round-optimized Schnorr threshold signature scheme that minimizes the network overhead of producing Schnorr signatures in a threshold setting while allowing for unrestricted parallelism of signing operations and only a threshold number of signing participants. We introduce FROST, highlight its features, and describe it in a fully decentralized approach (i.e., without any third-party signature aggregator). This post exposes what Coinbase discovered while evaluating and implementing the FROST protocol and we look forward to adding it to our suite of threshold signing services.

    If you are interested in cutting-edge cryptography, Coinbase is hiring.


    FROST: Flexible Round-Optimized Schnorr Threshold Signatures was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

    [ad_2]

    Source link

  • Bitcoin Eclipses Trillion-Dollar Market Cap on Equity ETF Approval

    Bitcoin Eclipses Trillion-Dollar Market Cap on Equity ETF Approval

    [ad_1]

    Shiba Inu Token runs ahead with 100% gains

    Bitcoin has surpassed $56K, reclaiming its trillion dollar market cap as the U.S. treasury
    rules out minting a platinum coin of the same value.

    The move higher comes on a raft of positive news: the U.S. Securities and Exchange Commission (SEC) has approved an exchange-traded fund (ETF) giving exposure to companies holding crypto, the investment firm founded by billionaire George Soros has revealed a Bitcoin allocation, and Brazil is following El Salvador by preparing a bill that will make the cryptoasset a recognized currency.

    All this action has put Bitcoin center stage with over 15% weekly gains, but several altcoins have also put on a wild performance. Shiba Inu doubled in price and Stellar added 8% on a new partnership with MoneyGram. Meanwhile, Tezos gave back recent gains by sinking 14%.

    This Week’s Highlights

    • Shiba shakes off the leash with 100% weekly gains
    • Regulatory fears fade as White House weighs executive order
    • eToro launches Filecoin and Polkadot on its investment platform

    Shiba shakes off the leash with 100% weekly gains

    Shiba Inu Token has doubled in value over the last week, running ahead of the pack to reach twelfth place in the market cap rankings.

    At its highest point, Shiba was up over 300%. This followed a tweet from Elon Musk about his dog Floki of the same breed, and the launch of 10,000 Shiboshi NFTs on the recently launched decentralized exchange ShibaSwap.

    Meanwhile, Musk’s pet project Dogecoin is laying low. The rival canine-themed crypto finished the week with 4% losses.

    Regulatory fears fade as White House weighs executive order

    The rising prices come as the Biden administration considers an executive order to regulate the crypto industry.

    This is widely expected to be bullish as it follows positive comments from the heads of U.S. government agencies. SEC Chair Gary Gensler told Congress on Tuesday that the agency has no plans to follow China into a crypto ban, joining Federal Reserve Chairman Jerome Powell, who expressed the same sentiment at the end of September.

    Instead of a ban, more nurturing regulation might come in the form of the “Clarity for Digital Tokens Act of 2021.” This bill was proposed last Tuesday and would create a “safe harbor” for projects that raise funds to build decentralized networks.

    eToro launches Filecoin and Polkadot on its investment platform

    eToro has added two more assets to its crypto offering, bringing the total number of cryptoassets available to 31.

    The new cryptos are Filecoin (FIL), which powers a decentralized storage network, and  Polkadot (DOT), a platform for cross-chain transfers.

    Week ahead

    As Bitcoin continues to close in on all-time highs, chatter about the approval of a Bitcoin ETF in the U.S. is reaching fever pitch.

    The first ETF to be approved could be the ProShares Bitcoin Strategy ETF, backed by Bitcoin futures, which is due to be decided on October 18th.

    Meanwhile, traders will be keeping their eyes peeled for broader regulatory developments from the highest branches of the U.S. government.

     

    Image by Petra Göschel from Pixabay



    [ad_2]

    Source link

  • MRHB DeFi’s Khalid Howlader Leads Discussion on Inclusion at Turin Islamic Economic Forum (TIEF) | by Bit Media Buzz | Oct, 2021

    MRHB DeFi’s Khalid Howlader Leads Discussion on Inclusion at Turin Islamic Economic Forum (TIEF) | by Bit Media Buzz | Oct, 2021

    [ad_1]

    Bit Media Buzz

    If you are interested in developments in fintech, cryptocurrency and decentralized finance, the Chairman of MRHB DeFi Khalid Howlader, is set to appear on a panel at the upcoming Turin Islamic Economic Forum (TIEF), this Wednesday in Turin, Italy.

    According to the “State of the Global Islamic Economy Report” (Thomson Reuters, 2020/2021), with governments and banks encouraging Islamic finance and improving financial inclusion, both Muslim-majority and minority countries have started to recognize the untapped potential of the Islamic Finance sector. Islamic Finance is continuing to expand and the report states that it could become an important part of the future of developed nations’ ability to attract fresh capital for investment in infrastructure, new technologies, renewable energy, real estate and strategic resources.

    You can find out more about the event here: https://www.tief.it/?lang=en

    Khalid Howladar, is Chairman of MRHB DeFi, the world’s first ethical and faith-based decentralized finance platform.

    He is also Senior MD and Head of Credit & Sukuk for R.J. Fleming & Co. and was previously Global Head of Islamic Finance and Head of the GCC banking team at Moody’s Investors Service, London and Dubai. He has addressed audiences worldwide including at the World Bank, IMF, ECB and IIF.



    [ad_2]

    Source link

  • YouTube deletes and restores Bitcoin bull Anthony Pompliano’s channel

    YouTube deletes and restores Bitcoin bull Anthony Pompliano’s channel

    [ad_1]

    Video sharing platform YouTube removed the 251,000-subscriber channel of Anthony ‘Pomp’ Pompliano, co-founder of Morgan Creek Digital and host of The Pomp Podcast, before later restoring it.

    In an Oct. 11 update on his Twitter account, Pompliano — a Bitcoin (BTC) bull known for his interviews educating skeptics and others on crypto — said he received a message from YouTube claiming a recent livestreamed interview with stock-to-flow model creator PlanB encouraged “illegal activities.” Pompliano’s entire channel was unavailable for roughly two hours before being returned to the platform, with all videos on BTC and crypto viewable to the public.

    “[YouTube] first stated that the content, an interview on Bitcoin, was harmful and dangerous,” said Pomp. “They then stated that we would receive a strike, but then I received a second email saying the channel was being deleted seconds later.”

    According to Pomp, he had received no “strikes” — violations of YouTube’s community guidelines; three strikes within 90 day can result in a channel being permanently removed — and the video seemingly didn’t have any questionable content or otherwise. However, the platform’s guidelines state it has the right to remove channels for “a single case of severe abuse” or for accounts dedicated to content including hate speech, harassment, or impersonation.

    YouTube had previously targeted crypto-related content on the platform, with its algorithms labeling videos on BTC and other cryptocurrencies as “harmful content,” and leaving human reviewers to assess any grounds for appeal. In Pomp’s case, he was able to get the attention of YouTube’s support team on Twitter within minutes — likely due to his 1.1 million followers and verified account. However, other crypto content creators have reported waiting days after having their channels similarly terminated.

    Related: Content creators fed up with YouTube now have a compelling alternative

    The seemingly arbitrary removal of the account of a major player in the crypto space highlights the danger of relying on a centralized platform like YouTube. Last week, Facebook, Instagram and WhatsApp went offline for roughly six hours, likely disrupting community engagement around crypto and blockchain projects.

    In addition, YouTube has been at the center of attention for attempting to purge videos related to misinformation on health around the COVID-19 pandemic. In August, the platform said it had removed more than one million video “related to dangerous coronavirus information” since February 2020.