Bitfinex Must Face New York’s Accusations Over the Loss of $850M in Co-Mingled Funds
Jul11

Bitfinex Must Face New York’s Accusations Over the Loss of $850M in Co-Mingled Funds

The popular digital currency trading platform, Bitfinex must deal with the New York Office of the Attorney General (NYAG) over the alleged hiding of over $800 million in client and corporate funds. The NY state Supreme Court’s Appellate Division overruled an appeal on Thursday, after the company put forth the argument that tether (USDT) was not a security or traditional commodity. Last year in April, New York prosecutors alleged...

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Bitcoin Bull Mike Novogratz Says to Hold More Gold Than Bitcoin
Jul11

Bitcoin Bull Mike Novogratz Says to Hold More Gold Than Bitcoin

The billionaire investor Michael Novogratz recently detailed in an interview that he thinks global investors should hold more gold in their portfolios and own less bitcoin. Novogratz’s statements follow his recent advice last month when he said investors should “watch gold and bitcoin.” Michael Novogratz is a well known investor and was a hedge fund manager at the investment firm Fortress Investment Group for years....

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Romanian Programmer Admits Conspiring to Create $722M Bitclub Ponzi Scheme
Jul11

Romanian Programmer Admits Conspiring to Create $722M Bitclub Ponzi Scheme

A Romanian man admitted Thursday to conspiring to engage in wire fraud and selling unregistered securities linked to Bitclub Network, a cryptocurrency mining Ponzi scheme worth at least $722 million. Silviu Catalin Balaci, 35, a Romanian citizen appeared before U.S. District Judge Claire C. Cecchi. Balaci pleaded guilty to a superseding information charging him with one count of a dual-object conspiracy to commit wire fraud and to...

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Shariah Council Permits Cryptocurrency Investing and Trading
Jul10

Shariah Council Permits Cryptocurrency Investing and Trading

The Shariah Advisory Council of Malaysia’s securities commission has advised that it is permissible to invest and trade cryptocurrencies on registered crypto exchanges. About 60% of the country’s population are Muslims, many of whom have been reluctant to trade crypto in fear that it might not be Sharia-compliant. Shariah-Compliant Crypto Trading The Shariah Advisory Council of the Securities Commission Malaysia (SC)...

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Fueling the Cannabis Industry: US Crypto Lending Service Files for Regulated Token Sale
Jul10

Fueling the Cannabis Industry: US Crypto Lending Service Files for Regulated Token Sale

Chicago-based lending firm Ceres recently filed for a request to conduct a Reg. A sale in order to get approval from the U.S. Securities and Exchange Commission (SEC). Ceres wants to launch a token that will be used for garnering equity, while the company also wants to launch a coin that can be used to lend to cannabis startups in need of funding. Cryptocurrencies and cannabis culture go hand in hand in the eyes of many, and the...

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Coinbase Eyeing US Stock Market Listing as Early as This Year
Jul10

Coinbase Eyeing US Stock Market Listing as Early as This Year

Coinbase Inc is planning a U.S. stock market listing for later this year or early 2021, Reuters reported on Thursday. The plan is subject to approval by the U.S. Securities and Exchange Commission. If successful, Coinbase could become the first major American cryptocurrency exchange to go public. Instead of an initial public offering (IPO}, where new shares are created, Coinbase is considering a direct stock market listing, Reuters...

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