Mark Cuban, a famous venture capitalist, and owner of the Dallas Mavericks, made comments on Twitter regarding the Gamestop stock situation, along with some of the inherent problems that lie within the New York Stock Exchange. In the thread, the billionaire claims that a blockchain system could solve many of the issues that the stock...Read More
A U.S. court has brought charges against three North Korean hackers, accusing them of massive crypto thefts. The individuals are computer programmers and have allegedly worked alongside government officials on their operations. Stealing More than $1.3B in Cash and Crypto A U.S. court charged three North Korean individuals suspected in an attempt for a massive...Read More
The world’s largest asset manager, BlackRock, is looking into Bitcoin. This was confirmed by the managing director of the company, Rick Rieder, today. Rick Rieder, the managing director of BlackRock, the world’s largest asset manager, confirmed that the company is looking into Bitcoin. “We’ve started to dabble a bit into it,” he said, refusing to...Read More
Jim Bullard, President of the St. Louis Federal Reserve, has dismissed the value proposition of Bitcoin (BTC) based on some of the oft-quoted advantages claimed by BTC proponents. Speaking to CNBC on Tuesday, Bullard remarked that the Federal Reserve viewed Bitcoin as more of a rival to gold than an actual currency. According to Bullard,...Read More
A bitcoin investment worth $1,200 following the first stimulus checks sent by the US government in April 2020 would have skyrocketed by more than 600% until today to over $8,500. Although this is a spectacular growth for less than a year, the same investment put in Ether would have presented an even better ROI of...Read More
With more institutional investors indicating interest in cryptocurrencies in recent times, Bank of New York (BNY) Mellon has announced that it would be offering crypto-related services later this year. Bank of New York To Hold Bitcoin The New York oldest bank stated in The Wall Street Journal today that it will hold, issue, and transfer...Read More
San Francisco-based crypto payments platform Metal Pay has applied for a national bank charter with the U.S. national bank regulator, which would enable the company to offer seamless cryptocurrency-related services. Metal Pay Eyes Full National Bank License In a tweet thread published on Thursday (Feb. 4, 2021), Metal Pay’s First Blockchain Bank and Trust (FBB&T)...Read More
This week was undoubtedly an altcoin party. Even though Bitcoin is up quite a bit in the past seven days, it was altcoins that stole the show, charting major increases almost every single day. Let’s start with BTC, though. It began the week at around $34,000 and was rather indecisive in the first few days,...Read More
An Australian man, founder of two multi-million crypto funds in New York, pleaded guilty on a crypto scam charge. The Ponzi scheme used a trading algorithm, taking advantage of price differences for Bitcoin and other cryptocurrencies. Draining almost $90M From Investors According to a recent report, Stefan He Qin organized the fraud that stole about $90...Read More
A 49-year old U.S. individual has pleaded guilty to a scheme, defrauding hundreds of investors with millions of dollars via a scheme involving bitcoin and cash. In two and a half years, he managed to fraudulently exchange at least $13 million. Illegally Exchanging Tens of Millions of Dollars A 49-year-old man from L.A. pleaded guilty...Read More
In yet another push forward in terms of the overall advent of the cryptocurrency space, LL Cool J is now investing in cryptocurrencies alongside billionaire Paul Tudor Jones. The report comes from Yahoo Finance, revealing that the legendary investor Paul Tudor Jones, as well as James Todd Smith, better known for his stage name, LL Cool J,...Read More
The first consequence following the GameStop fiasco could be right behind the corner for one of the key players involved – Robinhood. The company has reportedly paused its IPO plans, while Robinhood’s Co-Founder, Vlad Tenev, will likely appear in front of the US Congress to testify on his firm’s controversial actions. Robinhood’s Tenev To Testify...Read More
The largest US-based cryptocurrency exchange Coinbase plans to go for a Direct Public Listing (DPO) of its Class A common stock. The firm expects the Form S-1 filed with the US Securities and Exchange Commission to become effective after the Commission completes its review. Coinbase Aims For Direct Public Listing CryptoPotato reported in December that...Read More
Bitcoin has to prove itself in order to become a reliable store of value. BlackRock CEO and founder Larry Fink said that the crypto asset might see a bright future, but firstly it has to endure and prove itself. Bitcoin is Still Untested During a recent interview, BlackRock founder and CEO Larry Fink expressed his...Read More
The US financial services company Robinhood continued with restricting its users from accessing its most popular products. After yesterday’s halt of GME stocks, the platform has suspended instant cryptocurrency buying, citing “extraordinary market conditions.” Robinhood’s Restrictions Reach Crypto Following the GameStop sage, in which the company’s stocks went parabolic driven by retail interest, Robinhood barred...Read More
To say that we’re witnessing something exciting would be a massive understatement. The users behind the Wall Street Bets group continue to surprise the market and they supposedly have a new target: American Airlines. As CryptoPotato reported yesterday, the price for GameStop (GME) stocks soared days after millions of users in a Reddit group called Wall Street...Read More
Digital asset management outfit Arca has secured $10 million in Series A funding as the company sets out to bootstrap its expansion in the emerging fintech scene. Crypto asset management firms are also seeing increasing inflows as investor appetite for digital assets continue to grow. RRE Ventures Leads $10M Arca Funding Round Arca announced the...Read More
Coinbase asks FinCEN to pause last year’s rulemakings for cryptocurrency businesses. Shortly after, the agency officially extended the deadline for comments by another 45 days. Crypto Regulations to Wait Major digital currency exchange Coinbase has sent a letter to the Financial Crimes Enforcement Network (FinCEN) to hold up the planned crypto regulations. The US-based venue has...Read More
Bitcoin failed to recover in the past seven days, and it marked a further decline of about 8%. This has its current price hovering around $32,000, and its dominance has declined to 64.1%. But before we take a look at what this means for the altcoin market, let’s see what happened with BTC. The cryptocurrency...Read More
The world’s largest asset manager, BlackRock, may start trading cash-settled Bitcoin futures. This is according to new filings with the US Securities and Exchange Commission (SEC). BlackRock is the world’s largest asset manager, with almost $8 trillion worth of assets under management last year. To put it in perspective – that’s almost 8 times the...Read More
The January 15th deadline passed, and, as somewhat expected, the parties in the NYAG v iFinex case are yet to conclude the production and submission of the requested documentation. As reported by CryptoPotato earlier, January 15th was a much-anticipated date regarding the case between the New York Attorney General’s office and iFinex – the parent company of...Read More
This week was very intensive in the cryptocurrency market. It’s perhaps safe to say that it was among the most tumultuous ones we’ve had in the last few months. Everything started calmly, and during the weekend, the price hit an all-time high value of $42,000. The excitement was short-lived, as immediately after that, bitcoin went...Read More
Blockchain intelligence firm Chainalysis has tracked simultaneous Bitcoin (BTC) donations to wallets associated with right-wing extremist groups in the U.S., which might have helped fund the recent riot at the U.S. Capitol. The news marks yet another pivot towards pseudonymous money transfer means by alt-right groups in the U.S. Alt-Right Agitators Received $500K in Bitcoin...Read More
A Bulgarian national was sentenced to serve ten years in prison after a major crypto-related fraud. Not long ago, the man was convicted in a transnational multimillion-dollar scheme to defraud over 900 American citizens. An Auction Fraud That Victimized over 900 Americans According to an official announcement by the United States Department of Justice, Rossen G....Read More
With the initial deadline for comments long expired, FinCEN has decided to extend the comment period for its proposed controversial crypto regulation for an additional 15 days. FinCen Sets New Deadline The Financial Crimes Enforcement Network (FinCEN), an office of the U.S. Department of Treasury, announced the news of the extension via a press release...Read More
Cameron and Tyler Winklevoss are reportedly exploring the option of making their cryptocurrency exchange Gemini public. The brothers could follow the steps of other US-based digital asset-related companies with similar intentions, such as Coinbase and Bakkt. Gemini To Go Public? Bloomberg reported today that the founders of the US-based crypto exchange Gemini are open to...Read More
Twitter’s CEO Jack Dorsey has issued a statement in which he defended the social media’s decision to ban the account of US President Donald Trump. Interestingly, the executive also took a moment to praise bitcoin’s decentralized nature, saying that the Internet should strive to be more like it. The History Of Trump’s Social Media Bans...Read More
Anchorage, a crypto custodial service, has become the first to receive a national trust charter from the United States Office of the Comptroller of the Currency (OCC). The move puts the firm in the position to claim the mantle of the first U.S.-based national crypto bank. Anchorage Digital Bank Scores OCC Approval According to a...Read More
The largest US-based cryptocurrency exchange Coinbase has issued a formal apology for users in the UK and the EU region. The company acknowledged that its services have been unstable because of the high number of new registrations and the latest regulatory requirements. More Users Led To Problems On Coinbase Coinbase users located in the UK...Read More
Central District Court in California sentenced GemCoin founder Steve Chen to 10 years in federal prison. Chen has been announced guilty of being the mastermind and leader of a $147 million crypto Ponzi scheme that involved mining and digital currency fraud, and tax evasion. Over 70,000 Investors Defrauded with Gemstone-backed Crypto According to the US Department...Read More
