Category: Cryptocurrency News

MGT Capital Investments, a bitcoin mining and cryptocurrency investing firm formerly associated with John McAfee, has been hit with a class-action lawsuit over allegations that its former CEO participated in a pump-and-dump scheme that manipulated the price of MGT shares. Bitcoin Mining Firm Faces Class-Action Suit The suit, which was filed by Rosen Law Firm on behalf of current and former MGT shareholders who purchased MGT securities between Oct. 2015 and Sept. 2018, follows a Securities and Exchange Commission (SEC) Read more …

In an effort to help them navigate the global regulatory landscape, BitMEX, one of the planet’s largest cryptocurrency exchanges, has appointed Angelina Kwan to the position of chief operating officer. Kwan is something of a veteran in the Hong Kong financial regulation space. Regulatory Expert Angelina Kwan Drafted into the BitMEX Team BitMEX has become the latest in a slew of cryptocurrency exchange platforms to poach big names from the world of traditional finance. The leading Bitcoin exchange platform’s latest Read more …

The Bank of America (BoA) has estimated that blockchain could be a $7 billion market and provide a major boost to corporate giants such as Microsoft and Amazon, CNBC reports Oct. 2. While BoA’s analysts refrained from putting “a time stamp” on the industry becoming a major, multi-billion dollar addressable market, they reportedly based their estimates on a ballpark figure that two percent of corporate servers would be used to run blockchain at a cost of $5,500 annually. BoA research Read more …

1Broker, a Marshall Islands-based securities dealer and bitcoin trading platform, was recently taken down by the US authorities. The FBI seized the domain of 1Broker, shutting down the platform for allegedly violating money laundering regulations and distributing securities as an unregistered dealer. The official announcement of the US Securities and Exchange Commission (SEC) read: “The SEC alleges that a Special Agent with the Federal Bureau of Investigation, acting in an undercover capacity, successfully purchased several security-based swaps on 1Broker’s platform Read more …

A severe bug discovered just weeks ago in bitcoin’s code has been exploited – albeit on a lesser-known cryptocurrency. The developers behind the pigeoncoin cryptocurrency confirmed the exploit to CoinDesk on Tuesday, reporting that an unknown attacker successfully took advantage of the bug on September 26th, showcasing in the wild how it could have been used on bitcoin by printing 235 million coins worth about $15,000. That’s because while the severe inflation bug was patched on bitcoin, other coins that have borrowed Read more …

Venezuela’s oil-backed cryptocurrency, the Petro, will be released to the global markets this Monday, marking one of the first cryptocurrencies in the industry to be created and administered by a government. The cryptocurrency is part of the government’s “Economic Recovery, Growth, and Prosperity Program” that came about after the country fell into economic turmoil following a messy political switch to socialism. While speaking to the country during a televised address, Nicolás Maduro, Venezuela’s president, said that the Petro is practical Read more …

News Reporters at the Wall Street Journal (WSJ) tied innovative ecosystem cryptocurrency exchange Shapeshift to money laundering. “How Dirty Money Disappears Into the Black Hole of Cryptocurrency,” was its published product from months of investigative journalism. The company’s CEO, Erik Voorhees, claims cooperation with the WSJ was obtained “under false pretenses.” He also charges the WSJ “omitted relevant information” among other gaffs.  Also read: Ross Ulbricht Marks Fifth Anniversary in Prison Shapeshift CEO Erik Voorhees Calls Wall Street Journal Article Read more …

Tuesday, October 2: crypto markets are seeing mixed signals, with up and down fluctuations for the last few hours and most of the top 20 cryptocurrencies by market cap seeing losses, according to CoinMarketCap. However, in terms of the 100 top cryptocurrencies, around half of the markets are in the green today. Market visualization from Coin360 After seeing a slight growth on September 30,  Bitcoin (BTC) continues seeing losses. The major cryptocurrency is up around .015 percent over the past Read more …

Phillip Hammond, the U.K. finance minister, stated yesterday that blockchain technology could help smooth trade across the Irish border after the U.K. leaves the European Union. However, Hammond is the first to admit that he has no idea what he is talking about. UK Minister Relies on Poor Understanding of Tech in the Wake of Failing Negotiations There is ever-growing concern about how the U.K. leaving the European Union next year will impact the U.K. itself, as well as their Read more …

Puerto Rico’s Noble Bank International, which is known for reportedly opening accounts for USD-backed token Tether and crypto exchange Bitfinex, is allegedly searching for a buyer, Bloomberg reports Thursday, October 2. Citing an unnamed person familiar with the case, Bloomberg reports that Noble Bank has lost Tether and Bitfinex as clients, among others, and is currently on the search for a buyer. The bank, which sources tell Bloomberg is no longer profitable, might sell for a price from $5 to Read more …

The chief executive of cryptocurrency-funded web browser Brave has penned a letter to the U.S. Senate calling for legislators to adopt data privacy regulations comparable to those recently implemented in Europe. Brave CEO Calls for a U.S. GDPR Writing in the letter dated Sept. 28 and addressed to the U.S. Senate Committee on Commerce, Science, and Transportation, Brave CEO Brendan Eich said that Congress should adopt rules similar to the European Union’s General Data Protection Regulation (GDPR), a regulatory framework Read more …