Rumor has it this guy was in charge of defining accredited investor for the SEC
Rumor has it this guy was in charge of defining accredited investor for the SEC

The Daily Dig for Tuesday, June 6

Consultant fears crowdfunding hype overblown

Nell Edginton is President of Social Velocity, a consultancy that works with non-profits to maximize their exposure.  She is concerned the hype surrounding crowdfunding masks some real concerns about how effective it really is.

Los Angeles predatory mortgage lawsuit faces hurdles

The City of Los Angeles has made several efforts to hold the banking system to account  for their actions which contributed to the housing crisis, actions which continue to impact them today.  Lost tax revenue, higher maintenance costs and urban blight are three legs they have stood on so far.  Based on a past of sketchy enforcement and small settlements, this action faces an uphill battle, writes David Dayen.

Big bank strategy to profit from income inequality

The debate over aspects of Thomas Piketty’s new book Capital in the Twenty-First Century obscures the book’s overall truths.  Most in the financial community believe what it says and are educating their already rich clients on how to profit from it, reports Mark Gongloff.

Fitty sittin’ pretty and takin’ da bitty

He may throw a first pitch worse than Mr. Burns, but rapper 50 Cent is hip when it comes to accepting payment for his new album.  Fitty joins Richard Branson and Mark Andreessen as famous people throwing their weight behind Bitcoin as a legitimate currency.  Stan Higgins profiles this visionary.

Unregistered IPO’s land Bitcoin entrepreneur in hot water

Oops. Wrong Voorhees
Oops. Wrong Voorhees.

While Uncle Sam may be trying to figure out what to do about Bitcoin as a whole, he knows what to do with an IPO.  Erik Voorhees found this out the hard way after two unregistered IPO’s he ran got him dinged by the SEC.  Michael Ide shows where he went wrong.

Apple to allow some virtual currencies in apps

Apple will soon let software developers place virtual currency transaction capabilities in their apps.  Reuters report.

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