Monthly Archives: July 2020

Police Thwart Dark Web Criminals Who Planned to Firebomb a Nebraskan Pharmacy

William Burgamy and Hyrum Wilson pleaded guilty to conspiring to firebomb a pharmacy in Nebraska. A dark web drug lord and a Nebraskan pharmacist pled guilty to federal charges on July 13 after both were accused of conspiring to bomb a competing business. According to the indictment by the U.S. Department of Justice, 32-year-old William Burgamy from Maryland was the alleged owner of an illegal pharmaceutical site called NeverPressedRX. The site sold oxycodone and a number of other drugs. His supplier, Hyrum Wilson, is the owner of […]

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Data Shows the ‘Cheaper Altcoins Make Higher Returns’ Myth Is Flawed

Many investors believe that buying the cheapest altcoins produces greater returns during rallies but is this true? For many investors crypto trading remains a rags-to-riches affair where inexperienced investors hope to strike it rich by buying the cheapest priced altcoins like many novice traders did in 2017. Currently, the majority of traders do not expect Bitcoin (BTC) to pump 50% or more in a single week as $18,400 seems rather infeasible. On the other hand, many of these same investors are willing to put their hard-earned funds […]

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Abra Crypto App Charged by SEC for Transactions Affecting Thousands of US Stock and ETF Purchases

Abra cryptocurrency app has been charged by two U.S. regulators: the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The company has agreed to cease-and-desist orders as well as fines. The SEC says Abra’s employees “effected thousands of stock and ETF purchases in the U.S. to hedge the contracts.” Abra Crypto App Sanctioned in the US The SEC and CFTC independently announced on Monday that they have sanctioned California-based crypto app Abra and its related firm, Plutus Technologies Philippines Corp. d/b/a Abra International […]

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South Korea Could Issue a Crypto Capital Gains Tax as High as 20%

Crypto taxation in South Korea could increase to 20% for capital gains. South Korean private sector members recently discussed a crypto-related taxation bill meant to establish capital gains tax for cryptocurrencies. During these discussions on July 13, members indicated crypto gains taxes could rise as high as 20%. Cryptocurrencies could be considered as “goodsâ€� Proposed amendments to existing laws also plan to classify cryptocurrencies as “goods,â€� rather than currencies.  Lawmakers have established that virtual assets can be considered as electronic certificates of economic value that can be […]

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Crypto Scams Reach New Heights in 2020 With $24M Stolen So Far

Whale Alert alleges that crypto scams are skyrocketing in 2020 compared to statistics from 2017. Blockchain tracking and analytics platform, Whale Alert, revealed that over the past four years, scammers have stolen over $38 million worth of Bitcoin (BTC). New heights could be reached at the end of 2020 Whale Alert’s study, which relies on data from the crypto scam tracking site, Scam Alert, suggests that the popularity of dozens of different types of scams have been on the rise. Some of these include giveaways, sextortion, fake […]

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Price Analysis 7/13: BTC, ETH, XRP, BCH, ADA, BSV, BNB, LTC, CRO, LINK

Equities markets are surging and many altcoins continue to push higher as Bitcoin price consolidates into a tight trading range. The Nasdaq has regularly been making new highs for the past few days, which has resulted in a strong rally in a few technology companies. Along with this, a few stocks in the S&P 500 are also on a tear, pushing their valuations to astronomical levels. While the U.S. equity markets are on a strong footing, gold is not to be left behind. It has also risen […]

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Bitcoin Difficulty Touches All-Time High, 120 Exahash of Hashpower Remains Strong

The network difficulty for the Bitcoin network spiked over 9.8% on Monday bringing the difficulty to its highest point ever. The record high of 17.35 trillion makes it much harder for bitcoin miners to profit. However, the overall Bitcoin network hashrate has remained consistently above the 120 exahash per second (EH/s) zone. On July 13, 2020, the Bitcoin (BTC) network saw it’s largest difficulty metric ever, as it touched the 17.35 trillion mark on Monday. Basically, difficulty is the value used to measure how difficult it is […]

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Crypto Lawyers Are in Hot Demand as the Industry Goes Mainstream, Say Experts

Crypto companies are looking for legal talent as the industry becomes more established. The crypto market might soon see an uptick in legal hiring as it is moving out of regulatory gray zones, according to a recent article from Bloomberg Law. The publication interviewed a number of experts from the industry following the news that Coinbase had tapped former Facebook Vice President and Deputy General Counsel, Paul Grewal, as the leader of their legal team. The main consensus was that the amount of in-house hires in the […]

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Compound ‘5x Overvalued’ as COMP Farming Accounts for 88% of Its Assets

Researchers claim that the Compound token is at least five-fold overvalued as over 88% of its $1 billion book is lent to liquidity miners. Unlike most other cryptocurrencies, governance tokens for decentralized finance, or DeFi, lend themselves to classical fundamental analysis techniques. Since they are in many ways similar to traditional equity, they can benefit from established frameworks for evaluating a company. Cointelegraph spoke with Pankaj Balani, the CEO of derivatives platform Delta Exchange, to learn more about his company’s research exercise in trying to give a […]

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Bitcoin Mining Difficulty Hits Record High of 17.3 Trillion

Just two months after May’s Bitcoin halving event, both hash rate and difficulty have shrugged off post halving dips to hit new all-time highs. Following last week’s record-high Bitcoin hash rate, the latest difficulty adjustment saw a change of +9.89%, bringing the level to a new all-time high of over 17.3 trillion on July 13. Despite a lack of recent significant Bitcoin (BTC) price action, the fundamentals securing the network are as healthy as they’ve ever been. This is more positive news for investors concerned about a […]

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