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Tether Admits Buying Bitcoin with USDT Reserve
In a court transcript from a May 16, 2019, hearing between the New York Attorney General’s (NYAG) office and Tether, the sister company of Bitfinex, Tether has admitted that some of its reserves were also invested in bitcoin and other digital assets, reports The Block on May 21, 2019. дальше »
2019-5-23 13:00 | |
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Tether in court: Yep, we sort of, kind of, definitely used our reserves to buy Bitcoin
It appears that contrary to its marketing promises, Tether – a cryptocurrency pegged to the US dollar – used some of its dollar reserves to buy Bitcoin. The stablecoin issuer, which shares management and ownership with cryptocurrency exchange service Bitfinex, has admitted it used its reserves to invest in Bitcoin and other “assets,” according to court transcripts obtained by The Block. дальше »
2019-5-22 11:12 | |
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Elon Musk Had to Snub Apple’s Buyout Bid Even if Tesla Is in Code Red
By CCN: When Tesla’s stock crashed below $200 this week after the company tumbled into a “code red,” many on Wall Street wondered if Elon Musk should’ve accepted Apple’s $240-a-share buyout offer from 2013. дальше »
2019-5-22 00:45 | |
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Tether Partly Backed by Bitcoin, Court Transcription Reveals
Tether, a stablecoin tied to the dollar that is meant to mediate the volatility of other cryptocurrencies, is partly backed by bitcoin. As detailed in court documents obtained by The Block, Tether admitted to using some of the cash reserves meant to back its stablecoin to purchase bitcoin, among other assets. дальше »
2019-5-22 23:02 | |
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Tether Invested 'A Small Amount' Of Reserves In BTC
After finding out at the end of April that Tether's USDT was only about 74 percent backed by its reserves, the stablecoin issuer has now admitted to investing some of its cash reserves in bitcoin. дальше »
2019-5-21 21:33 | |
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Tesla Stock Crumbles to 30-Month Low as Elon Musk Turns Desperate
By CCN: Tesla stock flew higher when Elon Musk had announced that the electric vehicle maker will raise more than $2 billion in capital through stock offerings to finance ambitious initiatives such as robotaxis, but he is now singing a different tune. дальше »
2019-5-21 17:10 | |
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Bitfinex Claims Victory as Supreme Court Gives Nod to Exchange & Tether
By CCN: The New York Supreme Court has ruled that the scope of the Attorney General’s investigation into Bitfinex and Tether Limited is too broad and needs a time limit. Bitfinex: Supreme Court Ruling a “Victory” The embattled exchange called the ruling a “victory” and insinuates that the case will end up going nowhere. дальше »
2019-5-18 02:20 | |
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UnTethering the Cryptocurrency Market
Last week, the New York Attorney General (NYAG) launched an investigation into Tether, arguably the most controversial stablecoin in the crypto space, over an alleged $850 million fraud. Tether’s legal counsel have since admitted that the stablecoin is now only 74% backed by it’s asset reserves. дальше »
2019-5-17 19:20 | |
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XRP Price: The Case For Undervaluation Despite Recent Bull Run
The main use case for XRP is as a cross-border payment mechanism within Ripple’s xRapid product. The problem is that, as Ripple’s Chief Cryptographer David Schwartz has admitted, that Ripple’s transaction processing software “can work without XRP and without any blockchain tech. дальше »
2019-5-17 18:16 | |
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RIP: Bitcoin Exchange Cryptopia Begins Liquidation After $15 Million Hacking
By CCN: It may not have sounded the death knell immediately but the January hacking of New Zealand-based cryptocurrency exchange Cryptopia changed everything forever. Now the crypto exchange which lost NZD$ 23 million (approximately $15 million) in the security breach five months ago has appointed liquidators. дальше »
2019-5-15 13:49 | |
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‘Trustworthy’ Bitcoin Exchange That Hid $850 Million Loss Raises $1 Billion
By CCN: Bitfinex CTO Paolo Ardoino told Twitter that the firm was able to raise $1 billion in USDT within a short period because big investors know Bitfinex is “trustworthy. ” Trust, Don’t Verify The New York Attorney General’s office recently opened a very public investigation into the firm. дальше »
2019-5-14 03:00 | |
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Trump Advisor’s Shock Admission Threatens to Rock Stock Market
By CCN: Top Trump advisor Larry Kudlow admitted to Fox News’ Chris Wallace that “both sides will suffer” over the Trump administration’s U. S. -China trade war. You should expect the stock market will take heed of the likely loss of billions of dollars in business for the American automobile, agricultural, and tech industries when the bell rings on Monday. дальше »
2019-5-13 23:30 | |
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Ben Shapiro Self-Destructs on BBC as Host Unleashes Savage Mic Drop
By CCN: Stumbling across a headline like “Ben Shapiro self-destructs on camera” is not a rare sight on the internet. As perhaps the most conservative millennial conservative commentators, his aggressive debate style often incites rage in his political opponents. дальше »
2019-5-12 19:22 | |
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Buffett’s Berkshire Scammed Out of Staggering $340 Million by Solar Ponzi Fraud
By CCN: Berkshire Hathaway, the multinational corporation led by billionaire Warren Buffett, posted a $377 million first-quarter charge for investment losses related to a solar Ponzi scheme. Berkshire invested $340 million in Ponzi scheme Berkshire made the disturbing revelations in a regulatory filing during its annual shareholders meeting last weekend. дальше »
2019-5-9 18:16 | |
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Binance Hacked for $40M, CEO Backpedals on Recoup Via Block Reorganization
Chinese crypto exchange Binance suffered a major hack on Tuesday, which the company’s CEO responded to by proposing a rollback of the Bitcoin blockchain to rectify — a suggestion that riled up the community. дальше »
2019-5-8 21:39 | |
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Bitcoin Moves Towards $6,000 Mark as Momentum Remains Positive Despite “Untethered” Tether
The price of bitcoin rallied by over nine percent week-on-week despite the revelations that market-leading stablecoin USDT is not fully backed by US dollars as we were made to believe. On Sunday evening, BTC/USD traded at $5,785. дальше »
2019-5-6 19:00 | |
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Amazon Stock Jumps After ‘Idiot’ Warren Buffett Reveals Berkshire Stake
By CCN: Billionaire Warren Buffett gave Amazon stock a jolt today after revealing that he owns AMZN shares and was “an idiot” for not investing in the e-commerce giant sooner. On May 3, Amazon closed at $1,962 a share, up 3. дальше »
2019-5-4 22:02 | |
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Fintech-Related Lobbying Attracted $42 Million in Q1 2019
In a bid to carry out their agendas, crypto firms have turned to lobbying. Citing statistics from the Federal Electoral Commission (FEC), news platform Roll Call reported that fintech firms spent $42 million as lobbying expenses in Q1 in 2019 alone. дальше »
2019-5-3 18:27 | |
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Controversial stablecoin Tether is only 74 percent backed by cash (and other assets)
Tether’s lawyer has now admitted that the stablecoin is only 74 percent backed by cash and equivalents, according to an affidavit filed on Tuesday. In the filing, Stuart Hoegner, the company’s general counsel, said Tether held approximately $2. дальше »
2019-5-1 13:19 | |
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Trump’s FinCEN Pirates Extort $35,000 from Old-Fashioned Bitcoin Trader
By CCN: For the first time, FinCEN – the Financial Crimes Enforcement Network – has fined a peer-to-peer Bitcoin trader for failure to register as a money services business. MSBs fall under FinCEN’s regulation, and according to FinCEN, Eric Powers, reportedly a resident of California, willfully violated registration requirements. дальше »
2019-4-19 18:45 | |
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Emphasis Ventures (EMVC) VC Fund Founder Finds Affinity with India’s Growing FinTech Sector
Melissa Frakman, the founder of Emphasis Ventures Capital Fund (EMVC), recently admitted the Indian fintech industry is highly addictive. She said this at an interview with YourStory, a media platform that focuses on business news. дальше »
2019-4-18 19:16 | |
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Amazon Employees Listen to Alexa Conversations: 6 Ways to Make Your Echo Device More Private
Retail giant Amazon recently admitted that its employees listen to customer voice recordings from Alexa products as part of its method of improving its speech recognition. Users do have the option to prevent their recordings from being shared with Amazon employees in Alexa’s privacy settings, but they cannot opt out of voice recording. дальше »
2019-4-15 15:54 | |
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Pavel Durov’s TON showed “extremely high transaction speed”
The leak, which was posted by Vedomosti newspaper, is about Pavel Durov’s TON network testing . Several teams were admitted to the blockchain and installed nodes to test it. Gram will move XRP? According to previous statements by Pavel Durov, TON will process about a million transactions per second. Leaving far behind all existing platforms, […] дальше »
2019-4-12 23:04 | |
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Bitcoin [BTC]: Danish man sentenced to four years in prison for money laundering using Bitcoin
A 33-year-old Danish man was sentenced to four years and three months in prison after pleading guilty to charges of laundering Bitcoin. According to the verdict, the perpetrator bought Bitcoins from funds he received from identifiable criminal sources and sent it to unidentified offshore accounts. дальше »
2019-4-10 06:30 | |
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22-year-old gets 2 years in jail for illegally selling hundreds of thousands in Bitcoin
A 22-year-old man in the US has been sentenced to two years in prison for selling hundreds of thousands of dollars in Bitcoin through an unlicensed money transmitting business. Jacob Burrell Campos, who had been in custody without bail since he was arrested in August last year, was also forced to forfeit $823,357 in illicit profits. дальше »
2019-4-9 13:04 | |
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Boeing Admits F**k Up in 737 Max 8 Crashes That Caused 346 Deaths
The $100 billion company couched its apology in corporate legalese, but Boeing’s admission to at least partial culpability in the two deadly 737 MAX 8 crashes can be summed up in just three words: we f***ed up. дальше »
2019-4-6 18:38 | |
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Belgian regulator flags potentially fraudulent crypto-trading platforms after blacklisting 120 websites
The Belgian Financial Services and Markets Authority [FSMA] identified seven new cryptocurrency trading websites in Belgium which could potentially be fraudulent. The financial authority admitted to receiving complaints from Belgian consumers who had invested in digital assets through these platforms. дальше »
2019-4-5 18:30 | |
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India: $300 million worth Bitcoin Ponzi scheme accused gets interim bail
Amit Bharadwaj, the accused in a Bitcoin Ponzi scheme worth $300 million, was granted interim bail by the Supreme Court of India. Bharadwaj, the Founder of GainBitcoin, was suffering from kidney failure for months, his lawyer Deepak Prakash informed the court. дальше »
2019-4-4 16:14 | |
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Indian entrepreneur implicated in $300 million Bitcoin Ponzi scheme gets bail
Amit Bhardwaj, a man accused of running a $300-million Bitcoin Ponzi scheme, has reportedly been granted bail on medical grounds, citing a deteriorating kidney condition. The former entrepreneur, who was arrested in Bangkok last year, was reportedly admitted into Apollo Hospital in India, maintaning he needed regular dialysis treatment to treat his condition. дальше »
2019-4-4 13:46 | |
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Dow Dives 79 Points as Walgreens Paves Way for Brutal Earnings Season
The Dow lagged the rest of the U. S. stock market on Tuesday after Walgreens admitted that its generic drug business struggled last quarter, raising fresh alarm over the health of Wall Street corporate earnings. дальше »
2019-4-3 22:10 | |
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SEC Crypto Mom: ‘Dismissive’ U.S. Regulators Miss the Point of Cryptocurrency
If ever there was a canary in the regulatory coal mine, it’s Crypto Mom. U. S. SEC Commissioner Hester Peirce, who is affectionately known as Crypto Mom by the community, admitted that regulators, who have so far denied a bitcoin ETF, have missed the mark on crypto. дальше »
2019-3-30 15:57 | |
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“We Don’t Want the Pretty Tesla to go to Some Bots” Says Justin Sun After Winner Cries Scam
After we revealed half of Justin Sun’s new followers are fake, Tron’s founder has effectively admitted as much following one of the most peculiar prize giveaway. Do you think @justinsuntron. дальше »
2019-3-29 17:31 | |
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Mike Novogratz Thinks Gold’s Near 8 Trillion Market is Small Fries for Where Bitcoin is Going
Bitcoin (BTC) has been several times compared to gold and how it shares some features with the precious metal. This time, Mike Novogratz, the CEO fo Galaxy Digital, explained that Bitcoin could easily reach gold’s market capitalization. дальше »
2019-3-26 07:37 | |
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Twitter CEO Jack Dorsey Sees The Crypto Ecosystem Like the Early Internet, Plans Massive Adoption, Now On The Hunt For Crypto Engineers
Bitcoin enthusiasts had a reason for excitement when it was revealed that the CEO of Twitter and Square was a fellow holder. Endorsements from billionaires are always welcome, not to mention social media moguls. дальше »
2019-3-22 09:59 | |
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Augur Developer’s Dilemma in Fixing Vulnerability in Bettors Prediction Market
Augur CEO Joey Krug admitted the platform’s betting system had a vulnerability that has been exploited by scammers. Bet on Impossible Outcomes In a series of Tweets, Krug admitted that a malicious actor has taken advantage of a vulnerability in the best-known prediction market by taking advantage of deliberate ambiguities in phrasing in certain marketsRead MoreRead More. дальше »
2019-3-22 02:00 | |
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Cryptocurrency scammer pleads guilty in $4M fraud case
AriseBank CEO Jared Rice, who faced 120 years in prison for defrauding investors of $4 million in a cryptocurrency scam, has pleaded guilty. The cryptopreneur plead guilty yesterday morning after standing in front of judges in Texas, local outlet Dallas News reports. дальше »
2019-3-21 17:54 | |
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Vitalik Buterin: “Inevitable” That Ethereum Loses Some of its Lead in Crypto
Ethereum co-founder Vitalik Buterin admitted that Ethereum is losing its lead in the cryptocurrency market. Speaking on the Unchained podcast, Buterin said that losing a chunk of market share was “inevitable and unavoidable” for both the crypto projects. дальше »
2019-3-21 17:00 | |
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Dutch Bitcoin Ransom DDoS Hacker Gets No Additional Jail Time
Netherlands seems to be the place to operate elaborate Bitcoin ransom schemes from. A man who extorted over $150,000 from several online services by DdoSing them and submitting a ransom request pleaded guilty last month and admitted wrongdoing. дальше »
2019-3-19 02:00 | |
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Central Banks Losing Control Over Markets? Europe’s Leading Policy Makers Throw in the Towel
The economic condition of Europe has been so dire that European Central Bank (ECB) had already reversed its monetary policy as admitted by ECB last week. Just recently we also reported how the chief economist of ECB shared that they create money out of thin air. дальше »
2019-3-16 02:21 | |
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Tokyo crypto-cops nab their first cryptocurrency hacker: the $134K Monacoin thief
In Japan, an 18-year-oldcy from Monappy, a cryptocurrency-infused social media platform, reports JapanTimes. The man later admitted to repeatedly hacking the Monappy service between August and September last year, which caused it to pay out cryptocurrency illegitimately. дальше »
2019-3-15 18:22 | |
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MIT Bitcoin: Legislators Discuss Regulation, Potential of Blockchain Tech
On March 9–10, 2019, the Massachusetts Institute of Technology hosted a two-day event, the MIT Bitcoin Expo 2019. Put together by the student-organized MIT Bitcoin Club, the conference welcomed more than just Bitcoin voices from every corner of the industry. дальше »
2019-3-15 01:08 | |
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Legendary Investor Marc Faber Just Bought His First Bitcoin
After being a bitcoin skeptic for almost a year, Marc Faber is willing to give the digital asset a try. In an interview with Cash, the legendary investor and stock market expert said that he bought his first bitcoins in late February. дальше »
2019-3-12 15:17 | |
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Bitcointopia Founder Admits Selling Government-Owned Land to Bitcoiners
The founder of a scheme called Bitcointopia to sell land in the U. S. state of Nevada to bitcoiners has admitted in a federal court that some land was not his to sell. Previously arrested for selling BTC to an undercover agent through Localbitcoins, he also pleaded guilty to running an unlicensed money transmitting business. дальше »
2019-3-10 10:15 | |
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Billionaire Warren Buffett Remains Clueless About Bitcoin, Calls It ‘Delusional’
Warren Buffet has blasted bitcoin again, calling it a “delusion. ” Speaking on CNBC’s Squawk Box, he said: “Bitcoin has no unique value at all. It doesn’t produce anything. You can stare at it all day and no little bitcoins come out. дальше »
2019-2-25 17:21 | |
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Korea Bitcoin ETF Approval Depends on US SEC Decision, Admits Stock Exchange Official
South Korea has joined the cryptocurrency community when it comes to waiting for the US’ verdict on Bitcoin exchange-traded funds (ETF). The nation’s sole bourse operator, Korea Exchange (KRX), admitted that it was carefully observing the constantly-unfolding crypto ETF scenario in the US. дальше »
2019-2-24 15:09 | |
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QuadrigaCX Sent Deposits Allegedly Linked to CEO’s Widow, Mailed Withdrawals in Cash
For those QuadrigaCX users who were fortunate enough to have withdrawal requests honored, some appear to have received their funds through unconventional means. An anonymous QuadrigaCX user who corresponded with Bitcoin Magazine said that they received a bank deposit from Robertson Nova Consulting Inc. дальше »
2019-2-15 20:28 | |
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After the US, Twitter faces wrath from India’s right wing over alleged bias
Last September, when Twitter CEO Jack Dorsey appeared in front of US Congress, several Republican representatives asked him about the company’s bias against conservatives on the platform. While Dorsey denied this claim, the accusations continued to roll in over the following months. дальше »
2019-2-12 09:49 | |
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