Monthly Archives: April 2018

US DOJ Accuses Listings Site Backpage Of Laundering Millions In Crypto

Internet’s “leading forum for prostitution ads” is indicted on 93 counts, including money laundering through cryptocurrencies. Listings website Backpage.com was seized on Friday by the US Department of Justice (DOJ) in part on charges that it laundered half a billion dollars in illegal revenue, some via cryptocurrencies, a DOJ press release announced Monday, April 9. The 93-count federal indictment, obtained through joint action by the FBI, IRS and others, alleges that Backpage earned “over $500 mln in prostitution-related revenue since its inception.” IRS Criminal Investigation Chief John […]

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Bill Barhydt on Abra’s Pivot From P2P Money Transfers to “Crypto Banking”

Abra is a bitcoin-powered investment and payments app that first came to light at Launch Festival 2015 where it won the top prize at the event. The app uses bitcoin and litecoin smart contracts to represent the value of practically any fiat currency along with 20 crypto assets in the user’s wallet, where the user is always in complete control of their own private keys. While Abra was originally pitched as an app for permissionless, borderless money transfers, the startup is now entering the realm of “crypto […]

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European Commission Urges EU To Play ‘Leading Role’ In Blockchain Dev

EC Vice-President Ansip urges EU countries to support Blockchain ‘both politically and financially’ to make Europe a world digital leader. European Commission (EC) Vice-President Andrus Ansip has recently called on Europe to become a world leader in digital innovation by embracing Blockchain technology, along with Artificial Intelligence (AI),  in a speech at EC’s Digital Day 2018 in Brussels Tuesday, April 10. Quoting a British international technology investment firm Atomico, Ansip argued that Europe is “home to the world’s leading AI research community,” while according to the European […]

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India: Police Officers Beat, Exhorted 200 BTC From Businessman, Local Sources Say

The police in the Indian state of Gujarat are investigating the alleged kidnapping and extortion of around $2 mln in BTC from a businessman The Criminal Investigation Department (CID) in Gujarat, India is investigating the alleged kidnapping and extortion of 200 Bitcoins (BTC) from a businessman by police, local news outlet India Today reported Monday, April 9. The CID has filed an FIR (police document that predates the beginning of a police investigation) against 10 police officers, including a superintendent of police (SP) and an inspector, for […]

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Herd Immunity Against Bitcoin? Analysts Claim Bitcoin ‘Virus’ Has Peaked

Barclays analysts liken Bitcoin to an infectious disease, saying the “immunity threshold” among potential investors has been reached and prices will plateau. Analysts at Barclays PLC have divided the pool of potential Bitcoin investors into three groups — “susceptible, infected and immune” — likening the spread of Bitcoin investment to that of an infectious disease, Bloomberg reported Tuesday, April 10. According to this “epidemiological” model, which Barclays delivered to clients in a note Tuesday, the “immunity threshold” among new investors has now been reached, and the crypto […]

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Golem, the “Airbnb for Computers,” Launches on Ethereum Mainnet in Beta

After two years in development, one of Ethereum’s earliest initial coin offering (ICO) projects has finally launched on the Ethereum mainnet. The Brass Beta version of Golem went live today, April 10, 2018, the project announced on its website. On November 11, 2016, Golem raised 820,000 ether — worth $8 million at the time — in 29 minutes. “We’ve come a long way. From being one of the first crowdfunded projects, way past the challenges we had to face while navigating the uncharted territory that is building […]

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Winklevoss Twins’ Crypto Exchange Gemini To Begin Block Trading With BTC, ETH

Gemini, the Winklevoss twins’ crypto exchange, will begin offering high volume trading later this week. The Winklevoss twins’ crypto exchange Gemini will begin offer cryptocurrency block trading outside of their regular order books starting April 12 at 9:30 a.m. EST, according to Gemini’s April 9 press release. Investors that want to trade on the Gemini Block Trading marketplace will be able to buy and sell large amounts of cryptocurrencies. The minimum trade at Gemini will be 10 Bitcoin (BTC) and 100 Ethereum (ETH), with the trade information […]

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Promoted: Smart Startup Token Brings Blockchain Security to Small Business Legal Transactions

Properly upholding legal agreements is critical to a successful startup business. Despite their importance, falling short in fulfilling these agreements is often a recurring obstacle for small and medium-sized companies. Embracing the cutting edge in frictionless transparency and security, the Smart Startup Company wants to use smart contracts on a blockchain to solve this universal issue. Through their innovative model, SMRT will provide the smart contract on-ramp for startups and businesses seeking an efficient tool for legal contracts. Using a model the company has coined “the vending […]

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Overstock’s tZERO Reveals Prototype Of Security Token Trading Platform

Overstock’s subsidiary tZERO reveals prototype of upcoming token trading platform, to be fully launched in May. Retail giant Overstock’s Blockchain subsidiary tZERO has introduced the prototype of its upcoming security token trading platform, Business Wire reported Monday, April 9. The company also recently released a demo video describing the details and main principles of the tZERO trading software. According to Overstock’s CEO Patrick Byrne, the released prototype of the platform intends to “get an idea of the breadth” of what tZERO is planning to offer. According to […]

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Goldman Sachs Exec Leaves To Join Mike Novogratz’s Crypto Merchant Bank, Report Says

A Goldman Sachs exec is reportedly joining Mike Novogratz’s new crypto merchant bank as COO Cryptocurrency merchant bank Galaxy Digital, founded and run by former Wall Street exec Mike Novogratz, will reportedly be hiring Goldman Sachs executive Richard Kim as its new chief operating officer, Bloomberg reported yesterday, April 9. “Crypto capitalist” Anthony Pompliano posted on Twitter that the “brain drain from Wall Street continues.” Richard Kim, a former VP at Goldman Sachs, is joining Mike Novogratz’s Galaxy Digital as Chief Operating Officer. The brain drain from […]

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