Tagged: bitcoin

Peer to Peer Bitcoin Platform Paxful Says Average Monthly Volume is $65 Million

Peer to peer Bitcoin platform Paxful has sent over a note about the first 6 months of 2019. According to the P2P service, the average monthly volume in USD for the first half of 2019 was $65 Million. This amount is almost double the volume… Read More

Leverage Moving the Needle on Bitcoin, Not New Money, Traders Say

Several professional cryptocurrency traders are claiming that leverage and “whales” are behind Bitcoin’s recent massive price fluctuations and not coveted “new money.” According to Jeff Dorman, chief investment officer at ArcaFunds: “The Bitcoin price ascent from $4k-$10k was based on a confluence of real factors (depreciating… Read More

BitFunder and WeExchange CEO, Jon Montroll, Sentenced to 14 Months for Fraud and Obstruction of Justice

Jon Montroll, operator of two online crypto investment schemes, WeExchange Australia and BitFunder, has been sentenced to 14 months in prison for fraud and obstruction of justice. Montroll, 38, of Saginaw, Texas, has also been ordered to pay restitution of $167, 480 USD and will… Read More

President Trump Tweets About Bitcoin & Facebook’s Libra: “We only have one real currency in the USA … It is called the United States Dollar!”

President Trump has shared his perspective on crypto, and, more specifically, Bitcoin and Facebook’s stablecoin Libra. In a series of tweets yesterday, Trump professed his commitment to a strong US dollar and his disdain for the virtual currencies. Trump said we only have one real… Read More

Massachusetts Issues Cease and Desist Order Against Florida Woman, 62, Participating in Multi-State Crypto Fraud Scheme

The Massachusetts Securities Division of the Office of the Secretary of the Commonwealth Enforcement Section is seeking orders to force a 62-year-old woman in Florida to cease perpetuating a fraudulent cryptocurrency scheme operating in at least 6 American states. The agency is also asking that… Read More

Federal Court Orders Duo to Pay Penalties, Restitution for Bitcoin Fraud

In a case brought by the Commodity Futures Trading Commission (CFTC), two defendants, Morgan Hunt and Kim Hecroft, were ordered to pay almost $400,000 in penalties and restitution regarding Bitcoin-related fraud. The CFTC cautioned that the repayment of funds to victims may not result in… Read More

Hackers Move $8 Million USD in Bitcoins Stolen From Binance Trading Platform

Hackers moved more than $8 million USD in Bitcoins July 8th from digital wallets they’d been sitting in since the Malta-registered crypto trading platform Binance, one of the world’s largest, was hacked for more than 7000 Bitcoins in May, Hard Fork reports. At the time… Read More

Advisor: Top 152K Bitcoin Holders and Miners Milking the Bottom 25 Million in Ponzi Scheme

Bitcoin proponents are fond of claiming that Bitcoin is THE alternative financial system humanity needs to combat the tyranny and incompetence of central banks, and they will trot out all kinds of dire scenarios and statistics to prove this. The Bitcoin proponents I’ve met have also… Read More

Kraken CEO: Media Reports and “Massive Inflows of Fiat” Inflating the Price of Bitcoins, Not Tethers

Jessie Powell, the CEO of the San Francisco-based cryptocurrency trading platform Kraken told TD Ameritraid Monday that real money pouring onto crypto exchanges fuelled Bitcoin’s recent price rise, not controversial synthetic USDs called tethers. Tether printing comes after fiat and not before, said Powell: “Recently,… Read More

Renowned Shanghai Economist Says Bitcoin a “Gambling Instrument” Exploiting Asian Speculators

Outspoken Bitcoin and cryptocurrency critic and economist Dr Andy Xie, renowned for predicting the 1997-8 Asian currency crisis, told The Korea Times this week that Bitcoin is “a gambling instrument” primarily exploiting Asian investors and that it can never function properly as a currency. “Bitcoin… Read More

Texas Securities Board Launches Second “Investigative Sweep” in Response to Recent Tripling of Bitcoin Price

Three parties accused of soliciting Texas investors with fraudulent cryptocurrency offerings have received emergency cease and desist orders as part of Texas’ “second regulatory sweep of cryptocurrency investment offerings.” Like the first sweep, which began in December 2017, the second sweep has been launched, “in… Read More

Initial Polls Indicate Modest Interest in Facebook’s Proposed Cryptocurrency

Bitcoin’s recent diagonal tear to $13K USD has now relented as the currency’s price has settled back down to around $10k, and as the froth clears, information from two polls shows that the general public may be feeling tepid about Facebook’s proposed new cryptocurrency. Some… Read More

Coinbase Says Interest in Crypto “Growing” in America

San Francisco-based crypto exchange Coinbase is tooting it’s sector’s horn in a recent blog post regarding “awareness and adoption trends related to crypto in America, such as which US States have the highest rates of participation and where enthusiasm is highest.” The results are gleaned from,… Read More

Facebook-Borne Crypto Scam Exploited Image of Crown Prince of Abu Dhabi

A crypto scam featuring the image of the Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi, has been circulating on Facebook and may have conned thousands of people, local news outlet The National reports: “The fake news story scattered legitimate information, including factual details… Read More

Report: Bitcoin Booms on the Weekend, But Why?

Crypto users have long pervaded the rumour that the price of Bitcoins tends to increase on Friday and fall on Monday, and recent qualitative research from Bloomberg seems to confirms that observation “(S)urges in weekend activity since the beginning of May account for about 40%… Read More

Report: Bitcoin Up 3X This Year But Crypto “dApps” Show No Growth at All

Data at App Annie, the Apple App Store and Google Play downloads shows that consumer interest in crypto apps and “dApps” (purported “decentralized applications”) has flattened in 2019 even though the price of Bitcoin tripled this quarter, Bloomberg reports. The data is relevant, says the… Read More

Europol: Police Arrest Six Who Used “Typosquatting” to Divert Bitcoins to Fake Exchanges

Europol has announced that a 14-month-long investigation into a €24 million “typosquatting-based” cryptocurrency theft has netted 6 suspects in the UK and Netherlands. The five men and one woman were arrested “in simultaneous warrants” in Bath Staverton, Amsterdam and Rotterdam yesterday morning. An estimate 4 000… Read More

Outage and Issues at Two Crypto Exchanges as Bitcoin’s Price Dropped $1.8K in 15 Minutes

American crypto exchange Coinbase went dark Wednesday at the same time as the price of Bitcoins plummeted approximately $1800 dollars in 15 minutes, Coindesk reports. At the company’s Twitter account, Coinbase attributed the outage to cloudflare. [status] Identified: We are currently investigating this issue. We… Read More

Bitcoin Tops USD $13,000. One Prognosticator Predicts BTC at $63,000 in the Next Couple of Years

Bitcoin is moving, once again. The most popular crypto has earned its wings as a popular speculation vehicle – driven by geopolitical events and perhaps some manipulation. Advocates proclaim its purity and lack of affiliation with any central agency. Detractors denounce it as little more… Read More

Israeli Police Arrest Brothers Accused of Executing Billion Dollar Bitfinex Crypto Platform Hack

Two computer programmers in Israel, brothers Eli and Assaf Gigi, have been arrested in Jerusalem and accused of operating a sprawling phishing scam that helped them steal 120 000 bitcoins from the Bitfinex trading platform in 2016. According to Israeli crime reporting site Posta, “They… Read More

Send this to a friend