US authorities have charged with fraud and money laundering five people operating a Bitcoin mining Ponzi scheme. Called AirBit Club, the scam operated since 2015 and duped numerous victims into investing by promising alluring but false returns. How Did AirBit Club Operate? According to the US Department of Justice (DOJ), Pablo Renato Rodriguez and Gutemberg...Read More
The U.S. Government’s acting Comptroller of the Currency allowed banks in the country to offer cryptocurrency custody services a little less than a month ago. Advocating the case for crypto, he now says that payments need to happen ‘virtually instantaneously.’ He also feels that ‘the crypto phenomenon cannot be ignored.’ Crypto-Friendly Brian: Payments Need To...Read More
Swipe is set to venture into the U.S. market following approval from regulators. The news of the launch caused a rise in the price of its SXP tokens. Swipe Crypto Trading Functionality Coming to 200M Americans In a tweet on Tuesday (August 18, 2020), crypto wallet and card provider Swipe announced that it received a...Read More
Back in April this year, banking giant Capital One had filed a patent for an AI-based crypto fact-checking platform. The patent is now officially published. Will it find enough takers, given the bank’s massive 2019 data breach? Capital One Files Patent For AI-Based Crypto Information Analyzer According to Capital One’s patent, its artificial intelligence-led platform...Read More
The leading cryptocurrency asset management company – Grayscale Investments – has recorded its most significant fundraising week in its 7-year history. Interestingly, the massive spike followed a nationwide advertising campaign the company ran in the U.S. Grayscale Commercial Worked As CryptoPotato reported a week ago, the digital asset manager planned to run a widespread advertising...Read More
The United States has finally joined the bandwagon of countries testing a central bank digital currency (CBDC), Thursday reports revealed. Governor Lael Brainard said during a virtual technology event yesterday that the US Federal Reserve, in collaboration with research teams from Boston Fed and Massachusetts Institute of Technology (MIT), is conducting experiments with a hypothetical...Read More
The US Department of Justice (DOJ) has made its largest seizure of cryptocurrency accounts allegedly belonging and operated by some of the most feared terrorist organizations, namely al-Qaeda, ISIS, and Hamas. DOJ Seizes Cryptocurrency Accounts Operated By Terrorists According to the press release shared by the Justice Department earlier today, US authorities have seized over...Read More
Coinbase customers in the US will have the opportunity to receive cash loans against their Bitcoin holdings. If approved, the company’s clients might get their loans in two to three days. The Waiting List As per an official recent announcement, Coinbase has set a specially designated waiting list for their customers, who might like to...Read More
Following a recent update, the New York State Department of Financial Services (NYDFS) has approved eight cryptocurrencies for sale and trade and ten digital assets for custody by licensed entities. NYDFS License Cryptocurrencies For Trading And Custody In the latest update posted, the NYDFS has outlined the importance of regulating all assets available for purchasing...Read More
Bitcoin’s had a tumultuous week of trading, there’s no doubt about it. While the overall trend remains intact, according to most analysts, the cryptocurrency definitely kept us on our toes. Last Sunday was likely the most volatile day of the week when Bitcoin surged past $12,000 only to drop to around $11,300 in a violent...Read More
The move has been seen as extremely positive for the crypto industry as her nickname is ‘crypto mom’. The Senate Banking Committee cleared Peirce’s nomination on Wednesday, extending her term until 2025. Pro Crypto SEC Commissioner Peirce is very pro-crypto and fintech innovation, commenting last month that it is “going to be here to stay...Read More
The United States Department of Justice (DOJ) has filed a complaint against an alleged cryptocurrency Ponzi scheme to forfeit over $7 million in Bitcoin and Tether. The administrator of the scam called the “Banana Fund” has used some of the raised funds for personal benefits, including purchasing a house. DOJ Against Banana Fund Ponzi Scheme...Read More
This week was nothing short of exciting in the cryptocurrency markets. Bitcoin definitely woke up from its slumber and made a few aggressive moves upwards. Altcoins felt the pain as most of them decreased in value as the king of crypto took its toll. In seven short days, Bitcoin went from around $9,600 to $11,400,...Read More
Yesterday, Goldman Sachs warned that the US Dollar stands a severe risk of losing its status as the world’s reserve currency. This comes amid rising concerns regarding inflation in the United States. Will this lead to Bitcoin price rallying further in the near future? The Demise of the Dollar’s Dominance is Near: Goldman Sachs As...Read More
With gold setting a new all-time high (ATH) and Bitcoin (BTC) surging past $11,000 for the first time in over 11 months, market observers say investors are focusing on haven assets while governments prepare for another round of economic stimulus activities. Market Uncertainty Acting as Tail Winds for Bitcoin and Gold As of the time...Read More
Bitcoin used to show a higher correlation to the stock markets, especially amid the lowest point of the pandemic. However, it has taken a different route during the last few days. Bitcoin-S&P 500 Correlation Departs from ATH Typically, Bitcoin is regarded as an independent asset that often acts as a safe haven. Its fundamentals are...Read More
Rich Dad, Poor Dad author Robert Kiyosaki doubled-down on his vision that Bitcoin has the same role among young people as gold has among the elderly. He also noted that BTC and precious metals “make people smarter, richer, and stronger against Fed.” Bitcoin Will Make You Smarter And Richer: Kiyosaki The author of the New...Read More
A US federal court ruled that Bitcoin is a form of “money” covered under the District of Columbia’s (D.C.) Money Transmitter Act. The conclusion is part of a criminal action involving the U.S. versus Larry Dean Harmon, who operated a Bitcoin mixing platform. U.S. Court Regards Bitcoin as Money in Charges Against Helix Operator In...Read More
This week, unlike many of the previous ones, was full of excitement on the entire cryptocurrency market. For once, Bitcoin woke up from its sleep and staged an impressive performance, gaining about 5% of its Dollar value. While this may not sound like a lot for a whole week of trading, it’s important to remember...Read More
Anthony Ghosn, the son of former Nissan boss Carlos Ghosn, revealed to prosecutors that he paid about $500,000 in cryptocurrency to one of the two men who helped Carlos break free from Japan. Carlos Ghosn’s Son Transferred Half a Million in Cryptocurrency Through Coinbase According to Reuters, US prosecutors said in a court filing that...Read More
Reacting to positive news from the US, Bitcoin continued its decisive move forward, reaching an intraday high of $9,560. On its way up, the primary cryptocurrency took most of the altcoins along for the ride, and they managed to decrease BTC’s dominance to 61.6%. Bitcoin To $9,500 Following weeks of stagnant price actions, Bitcoin made...Read More
National banks and federal saving associations can now offer crypto custody services to customers following approval from regulators in the country. OCC Okays Crypto Custody Operations for US Federal Banks According to a letter issued by the Office of the Comptroller of the Currency (OCC) on Wednesday, U.S. Federal banks can now offer crypto custody...Read More
Owing to its decade long correlation with the S&P 500 stock market index, Bitcoin stock-to-flow (S2F) model propounder Plan B thinks that BTC should have surpassed it’s previous ATH and hit the $25,000 price mark. ‘S&P Implied BTC Price: $25K .. Interesting Times Ahead!’ Plan B takes an interesting place amongst numerous other ‘Bitcoin analysts’...Read More
Decentralized finance (DeFi) is all the rage in 2020 as projects in the field continue to explode. The total value locked in lending protocols has skyrocketed throughout the year. And while there are plenty of exciting projects, one seems to stand out with its unique approach. The project in question is Ampleforth (AMPL). It addresses...Read More
The leading digital asset management company Grayscale Investments has received approval from FINRA for public quotations for two more of its cryptocurrency products. Consequently, shares of both Grayscale Bitcoin Cash Trust (BCHG) and Grayscale Litecoin Trust (LTCN) have become the first publicly-quoted securities in the US deriving value from Bitcoin Cash (BCH) And Litecoin (LTC)....Read More
During the past seven days, Bitcoin failed to surprise us with anything in terms of price action. It appears that the cryptocurrency continues with its somewhat dormant state as it remained stagnant and rangebound between $9,000 and $9,200. Yesterday, BTC’s price dropped from slightly above $9,200 to around $9,040, sparking worries that things might take...Read More
While the perpetrators of the infamous Twitter hack from a few days ago remain unknown, popular cryptocurrency proponent Cameron Winklevoss believes that “we do know who continually hacks the US dollar – the Fed.” The Fed Hacks The USD? During the past few days, the world’s attention is focused on the bold Twitter hack, which...Read More
Yesterday’s fake Bitcoin giveaway scam on Twitter unleashed a series of events and comments from prominent figures. While some spoke against the popular social media platform, others against BTC, a US Congressman stood behind the primary cryptocurrency and blamed it on “centralized control.” US Congressman: Bitcoin Isn’t The Problem As yesterday’s Twitter hack, which unfolded...Read More
The US Department of Justice (DOJ) arrested a Houston resident for allegedly fraudulently accessing over $1.1 million of Paycheck Protection Program (PPP) loans and using it to buy cryptocurrency. The Suspect Took PPP Loans on Behalf of 2 Companies On Tuesday, Times Record News reported that Joshua Thomas Argires, 29, was taken into custody by...Read More
The third co-founder of the alleged cryptocurrency scam project Centra Tech, backed by celebrities such as Floyd Mayweather and DJ Khaled, is reportedly planning to plead guilty to duping investors into committing more than $25 million in its initial coin offering (ICO). The Third Centra Tech Inc’s Co-Founder Pleads Guilty According to the report from...Read More
