Monthly Archives: August 2019

Bitcoin Price Fights to Hold $10K Support While Altcoins See Drops

Crypto markets continued to see red today with Bitcoin price hovering around the $10,000 threshold. Saturday, Aug. 24 — crypto markets continued to see red today as Bitcoin (BTC) has dipped below $10,000 price mark several times over the past 12 hours. Only two out of the top-20 coins by market cap are seeing gains over the past 24 hours at press time, including Cardano (ADA) and NEO (NEO), which are up 1.3% and 2.6%, respectively. Market visualization | Source: Coin360 BTC fights to hold $10K support […]

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US FTC Settles With Alleged Crypto Pyramid Scheme for $500,000

The U.S. Federal Trade Commission has settled charges it filed in 2018 against a crypto pyramid scheme involving four individuals, with the defendants paying $500,000. The United States Federal Trade Commission (FTC) has settled charges it filed in 2018 against an alleged crypto pyramid scheme involving four individuals. Terms of settlement According to an official statement on Aug. 22, the regulator permanently banned the defendants from multi-level marketing and misrepresenting investment opportunities and charged a total of over $500,000 as part of the settlement. In March 2018, […]

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Crypto Custody: Adoption Shortcut or Blockchain Purists’ Nightmare?

With Coinbase becoming the world’s largest institutional custodian of digital assets, the crypto community is left to wonder what it means for the industry… The major digital asset services platform Coinbase has recently announced the long-anticipated completion of a deal that has been in progress since at least May: the acquisition of Xapo’s institutional business. The move projects Coinbase Custody to the status of the world’s largest institutional digital asset custodian, securing more than $7 billion on behalf of over 120 clients globally. According to some estimates, Coinbase could now […]

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Initiative to Curtail Negative Interest Rates Gains Traction in Germany

Negative interest rates, a common occurrence in Europe these days, are unpleasant for both banks and clients. And financial institutions have been increasingly transferring the bulk of the burden on to their customers. Some political factions in Germany, however, aren’t happy with the trend and are pushing for adequate protection for the ordinary small saver, who is often their voter too. Also read: Major Swedish Bank Orders Negative Interest Rate on Euro Deposits Bavarian Leader Wants Berlin to Outlaw Punitive Interest Germany needs to ban banks from […]

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Ethereum Is in a Bear Market, But One Analyst Explains Why He’s Long

Ethereum is still in a bear market even as Bitcoin continues to post amazing gains. When will the tables turn for the largest altcoin by market cap? Nowadays, it seems everyone is bearish on Ethereum and its Ether token (ETH) except for Placeholder VC partner Chris Burniske, who, earlier this week, made the case for why he believes ETH/USD is a great long-term investment.  According to Burniske, the oft-cited narrative that the implosion of the ICO market led to Ether losing its use case is not entirely […]

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US Man Pleads Guilty to Running $25 Million Bitcoin Laundering Scheme

A man apprehended for selling two pounds of meth to an undercover agent pleaded guilty to running a $25 million money-laundering scheme using Bitcoin. A Los Angeles man pleaded guilty to running a $25 million Bitcoin (BTC) money laundering scheme and sale of methamphetamine. Possible life sentence News outlet U.S. News reported on Aug. 23 that 25-year-old Kunal Kalra has pleaded guilty to charges including money laundering and distributing methamphetamines. Per the report, he could be sentenced to life in prison. The authorities allegedly claim that from […]

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The White House Just Blamed Bitcoin for America’s Opiate Crisis

The opioid epidemic is the new devil Bitcoin is being blamed for inflaming, to be added to the already long list of heinous crimes crypto is supposedly responsible for, like terrorism, money laundering, and trafficking. While it’s painfully clear that the U.S. dollar is a much more common tool for these unethical and illicit activities, that doesn’t stop the powers that be from continuing their propagandistic assault on financial freedom — ignoring their own central role in creating these massive problems, by pumping up the artificial monopolies […]

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Cresio CIO Comments, New ‘Satoshi’ and BTC Games: This Week in CT Spain

In this week’s news from Cointelegraph’s Spanish version: the CIO of Cresio talks about crypto’s future, a Monero developer refutes a Satoshi claimant and more. As many of our readers probably know, Cointelegraph has a number of non-English branches, each covering news from different parts of the world.  In pursuit of the most complete and detailed picture of the global cryptocurrency industry, we present a series of weekly compilations of the freshest original articles from our colleagues, starting with Cointelegraph en Español. Bitcoin will rise to six […]

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Poloniex Pledges to Reimburse Flash Crash Losses, Victims Displeased

Poloniex is making moves to cover its losses from the CLAM flash crash, but questions remain about the accountability of margin borrowers… When a financial system like the crypto market lacks liquidity, a crash becomes inevitable. This was the case at the margin trading marketplace hosted by U.S.-based crypto exchange Poloniex toward the end of May, when the value of a lesser-known crypto asset, CLAM, experienced a sudden, sharp crash. This resulted in the generalized loss of approximately 1,800 Bitcoins (BTC). In what is its second attempt […]

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Ex-Morgan Stanley Exec Joins His Former Colleagues at Shenzhen Crypto Firm

Chinese cryptocurrency company Amber Group recruited ex-Morgan Stanley Asia head of derivatives Jeffrey Wang. Former Morgan Stanley Asia head of derivatives Jeffrey Wang officially joined Amber Group, a Shenzhen-based cryptocurrency company. As Bloomberg reported on Aug. 23, Wang will operate out of Vancouver as the head of Americas for Amber. According to the article, he previously worked at Morgan Stanley with four out of the five Amber’s founders, and two of them — Wayne Huo and Tony He — used to report directly to Wang. No rest […]

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