Friday, June 17, 2016

"Ethereum" Digital Coin Crashes

The digital currency Ethereum crashed earlier today.  The Wall Street Journal has coverage of this story.  Surely there are limits to completely electronic money…. 

Founders of the fund, DAO, which was built around a digital currency called Ethereum and which raised more than $150 million this spring, said Friday morning they have been forced to shut down the fund and plan for its unwinding.

The attack spirited away roughly 3.6 million Ethereum coins, valued at around $55 million, from DAO to another account.

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