Bitcoin News and Finance Bitcoin News and Finance: What You Need to Know Skip to main content

Posts

FBI Renews Warning About Pig Butchering Crypto Scam Sweeping the Country

The Federal Bureau of Investigation (FBI) has reiterated its warning about a very popular crypto investment scam called “pig butchering” that is sweeping across the U.S. “Be very careful when you go on social media and dating apps and somebody starts developing a relationship with you,” cautioned an FBI specialist. FBI Warns About Pig Butchering Crypto Scam The Federal Bureau of Investigation (FBI) has renewed its warning about the “pig butchering” cryptocurrency investment scam. Frank Fisher, public affairs specialist at the FBI’s Albuquerque division, warned that the pig butchering crypto scam “is sweeping the country,” CNN reported Monday, quoting him as saying: Be very careful when you go on social media and dating apps and somebody starts developing a relationship with you, and wants you to start investing … Don’t get butchered. In pig butchering schemes, scammers “fatten up the pig by getting the victim to think that they’re investing in something and get them to move mone...

Philippine Regulator Warns Against Using Unlicensed Cryptocurrency Exchanges Following FTX Collapse

The Philippine Securities and Exchange Commission (SEC) has advised investors against transacting with unlicensed cryptocurrency exchanges. The warning followed the collapse of crypto exchange FTX which “left hundreds of thousands, even millions of unsecured creditors with little to no recourse in recovering their money,” the regulator stressed. Philippine SEC Warns About Unregulated Crypto Exchanges The Philippine Securities and Exchange Commission (SEC) issued an advisory Friday warning the public against transacting with unregistered cryptocurrency exchanges. The regulator wrote: SEC strongly warns and advises the public against transacting with unregistered and unlicensed cryptocurrency exchanges reachable and deemed operating in the Philippines. The advisory followed the collapse of crypto exchange FTX which “left hundreds of thousands, even millions of unsecured creditors with little to no recourse in recovering their money,” the Philippine SEC described. The regulator pr...

Robert Kiyosaki Warns Last Chance to Buy Gold and Silver at Low Prices — Says Stock Market Crash Will Send Them Higher

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says now may be the last chance to buy gold and silver at low prices. “Inflation moving up. Interest rates moving up. Stock market to crash sending gold and silver higher,” Kiyosaki described. Robert Kiyosaki Expects Gold and Silver to Soar When Stock Market Crashes The author of Rich Dad Poor Dad, Robert Kiyosaki, says the prices of gold and silver are about to soar. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Monday that the price of gold is now over $1,800 while silver is over $24, adding: Inflation moving up. Interest rates moving up. Stock market to crash sending gold and silver higher. May be last chance to buy gold and silver at these low prices. The Rich Dad Poor Dad ...

Publicly-Listed Bitcoin Miner Argo Blockchain Suspends Nasdaq Trading

Bitcoin miner Argo Blockchain announced that it requested the suspension of trading its company shares on Dec. 27, as the company expects to make an announcement on Wednesday, Dec. 28, 2022. The company’s stock has lost 96.34% year-to-date and on Dec. 12, the bitcoin miner “advanced negotiations with a third party to sell certain assets” in order to “strengthen its balance sheet and improve its liquidity.” Argo Blockchain Requested a Suspension of Stock Trading Pending an Official Announcement On Tuesday, Dec. 27, 2022, the publicly-listed bitcoin miner Argo Blockchain (Nasdaq: ARBK ) announced that it has requested the suspension of trading its shares via Nasdaq and the London Stock Exchange as well. Argo detailed that it believes trading will resume after the company makes an important announcement on Dec. 28. Argo disclosed that the announcement is “expected to be released before [the] opening of trading on Wednesday.” Argo is one of many bitcoin mining operations that has suff...

Bitcoin Mining Pool Btc.com Suffers $3 Million Cyberattack

A major cryptocurrency mining pool has been hit by hackers earlier this month, the company who owns the pool revealed in an announcement. The incident resulted in the theft of digital assets belonging to the pool and its clients worth a combined total of $3 million. Chinese Authorities Launch Investigation Into Crypto Mining Pool Hack A subsidiary of the coin minting company Bit Mining has been targeted in a hacking attack, the company said in a press release. The affected entity is a leading bitcoin mining pool, Btc.com , which in the past week accounted for over 2.5% of the pool distribution and has a share exceeding 4% on annual basis. According to the announcement published Monday, Dec. 26, the platform was hit on Dec. 3, 2022. As a result, $2.3 million worth of digital assets owned by the company and another $700,000 in asset value belonging to its clients were stolen. The cyberattack has been reported to law enforcement in Shenzhen, China on Dec. 23. The Chinese authorities ...

More Than $19 Billion in BTC, ETH, Stablecoins Left Exchanges Since the Onset of FTX’s Collapse

For more than 50 days or since Nov. 5, 2022, bitcoin, ethereum, and stablecoin owners removed roughly $19.19 billion in crypto assets from centralized exchanges. Between Nov. 5 to Dec. 26, roughly 356,848 bitcoin and 4.48 million ether were withdrawn from a myriad of crypto trading platforms worldwide. $6 Billion in Bitcoin, Over $5 Billion in Ether, and More Than $7 Billion in Stablecoin Assets Were Removed From Centralized Exchanges in 51 Days Since the onset of FTX’s collapse on Nov. 5, 2022, a great number of bitcoin ( BTC ) and ethereum ( ETH ) have left exchanges. Statistics from cryptoquant.com indicate that since that day 51 days ago, 356,848 BTC worth $6.02 billion, using current bitcoin exchange rates, has been removed. The near two-month span was the largest number of bitcoin and ethereum withdrawals all year. Currently, on Dec. 26, 2022, cryptoquant.com metrics show there’s 2,151,925 BTC held on centralized exchanges. 51 days ago on Nov. 5, around 2,508,773 bitcoin ...

Argentine Soccer Association AFA Partners With Upland to Enter the Metaverse

The Argentine Soccer Association, AFA, has partnered with Upland, a virtual world platform, to introduce its fans to the metaverse. Upland will allow Argentine fans to have a bigger connection with AFA history, presenting the opportunity to acquire digital representations of several properties of the league, including clubs, games, historical moments, and even tickets. Argentine Soccer Association AFA to Establish a Presence in the Metaverse The Argentine Soccer Association, AFA, the institution that manages the national soccer league, is now entering the metaverse. The organization has partnered with Upland, a real-life mapping metaverse project, to allow its users to enter the metaverse and experience the benefits of a closer connection with teams and celebrated players. According to a press release issued by the AFA, Upland’s partnership will include digital representations of all the teams of the league, including players, tickets, games, historical moments, and exclusive mome...

Report: R&B Artist Akon Denies Claims His Crypto City Dream Is Crumbling

Senegalese-American artist, Akon, reportedly reassured participants in his so-called token of appreciation (TOA) that they will be reimbursed for donations. To back this promise, the singer reportedly claimed he is even willing to do “a world tour just to pay them all back.” Akon, however, conceded during an interview that he should “have gotten more things in place before promoting it [Akon City].” Singer Ready to Do a World Tour for Token Holders Rhythm and blues (R&B) singer and music producer, Akon, reportedly promised to reimburse disillusioned supporters who have been waiting for refunds from his token of appreciation (TOA) campaign. The Senegalese-American artist also told TOA holders that he is prepared to use his own funds to ensure this promise is honored. “I’m dead serious. I would do a world tour just to pay them all back,” the award-winning artist reportedly said. Launched in 2019, Akon’s TOA was given to his early financial backers. The TOA was not only a precurs...

Indian Crypto Market Suffers Significantly — Experts Say Trading Volumes Unlikely to Recover Anytime Soon

Crypto trading volumes in India have plunged significantly this year. The FTX meltdown has exacerbated the problem, hurting “the sentiment across crypto tokens.” Local crypto experts are not expecting a recovery in the near future “Unless something dramatic happens” in the upcoming Union Budget. Indian Crypto Market ‘Dead’ Since April, Says Expert Cryptocurrency trading volumes at major exchanges in India have plunged significantly this year. Since the collapse of crypto exchange FTX, major exchanges in India lost between 34% and 50% of trading volumes, Moneycontrol reported Monday, citing data from research firm Crebaco. However, the decline began long before the FTX implosion. One of the largest crypto trading platforms in India, Wazirx, lost 97.99% of its trading volumes from the beginning of the year to Dec. 22. Crebaco CEO Sidharth Sogani told the publication: I don’t think a lot of this recent trading volume plunge was driven by FTX. The market in India has been dead since ...

Banking Giant HSBC Files Trademarks for a Wide Range of Digital Currency and Metaverse Products

Banking giant HSBC has filed trademark applications with the United States Patent and Trademark Office (USPTO) for a wide range of digital currency products and services, including those related to the metaverse and non-fungible tokens (NFTs). HSBC’s Trademark Applications for Crypto-Related Products and Services HSBC has filed two crypto-related trademark applications for its name and logo with the United States Patent and Trademark Office (USPTO). Mike Kondoudis, a USPTO-licensed trademark attorney, noted in a tweet Friday that HSBC’s trademark applications indicate the bank’s plans for a number of digital products and services, including those related to the exchange and transfer of virtual currencies. HSBC’s crypto-related trademark applications were filed on Dec. 15; their serial numbers are 97718803 and 97718583. The bank described a wide range of products and services in its applications, including sending, receiving, converting, and storing digital currencies. The tradema...

Brazilian Securities Commission CVM Opens a Path for Funds to Invest in Crypto

The Brazilian Securities Commission CVM has cleared the path for funds to dive into cryptocurrency-based investments. The institution issued a new set of rules that allows financial investment funds to invest in cryptocurrency tokens with the equivalent protections offered to other investment assets such as stocks and bonds, opening new markets for these companies. Brazilian Securities Commission CVM Regulates Cryptocurrency Investment for Funds Brazil has given one more step for the regularization and adoption of cryptocurrencies as investment instruments. The Brazilian Securities Commission has approved a new set of rules that now allow established funds to invest in cryptocurrency, opening a new market for these institutions. The norms, which were passed after President Jair Bolsonaro sanctioned a cryptocurrency law last week, regulate crypto investments in a way in which these companies will be able to enjoy the same protections available for other investment assets such as s...

Argentine Peso Plunges to a 5 Month Low Amid Legal and Political Woes

The Argentine Peso has experienced a sudden fall vs the U.S. dollar, falling to a 5-month low in its blue rate, one of the many parallel exchange rates of the country. The reasons for this fall, besides the abundance of pesos due to holiday-related payments, and the battle between President Alberto Fernandez and Argentine courts. Argentine Peso Falls Sharply Against the US Dollar The Argentine peso is facing a sudden downturn that has taken the value of the currency to historic lows. On Dec. 23, local media informed one of the informal exchange rates of the currency vs the U.S. dollar, denominated “blue dollar,” had reached the 340 pesos mark. This marks a 5-month low after a period in which the peso maintained its value relatively steady. The last time that the peso plunged in this way was in July when the country was also submerged in a period of political instability with the resignation of Finance Minister Martin Guzman. The historical minimum exchange rate is 350 pesos per ...

SEC Charges Gig Economy Platform for $2.6 Million Unregistered Coin Offering

The U.S. Securities and Exchange Commission (SEC) has charged Thor Technologies and its co-founders with conducting an unregistered securities offering. In 2018, the company minted and sold tokens to raise funds for its ‘gig economy platform,’ the development of which had not even started at the time. U.S. Securities Regulator Accuses Thor Technologies’ Management of Conducting Unregistered ICO The Securities and Exchange Commission of the United States has charged Thor Technologies, its co-founder and CEO David Chin and Matthew Moravec, co-founder and former CTO, with carrying out an unregistered offering of securities through an initial coin offering ( ICO ). Chin and his company are accused of selling ‘Thor tokens’ to the general public to attract funding for the business which was supposed to build a software platform for the ‘gig economy’ workers and firms, the SEC’s complaint reveals. The regulator details that the digital assets were marketed as an investment opportunity. T...

Peter Schiff Advises Selling Bitcoin Today — Says It’s ‘the Smart Move’

Gold bug and economist Peter Schiff has recommended selling bitcoin today, emphasizing that it is “the smart move.” Many people disagreed with Schiff’s analysis of the price of the cryptocurrency, warning that he is telling investors to sell at the bottom. Peter Schiff’s Bitcoin Advice Gold bug and economist Peter Schiff has a Christmas message for bitcoin investors. Schiff is the founder and current chairman of Schiffgold, a precious metals dealer specializing in gold and silver bullion. He has long been a bitcoin skeptic, regularly bashing the crypto while promoting gold. He tweeted Sunday: My Christmas gift to HODLers is this bitcoin chart. As you can see bitcoin is much closer to its ceiling than its floor. The yellow line that was once support is now resistance. Since the upside potential is so low and downside risk so high, the smart move is to sell today. While some people thanked Schiff for his advice, many criticized the economist for telling people to sell at the bott...

Mark Cuban: Bitcoin Is a Good Investment, Gold Investors Are Dumb

Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, says bitcoin is a good investment. The billionaire wants the price of the cryptocurrency to fall further so he can buy some more. Meanwhile, he insulted gold investors, calling them “dumb as f***.” Mark Cuban Prefers Bitcoin Over Gold Shark Tank star and the billionaire owner of the NBA team Dallas Mavericks, Mark Cuban, shared his thoughts about bitcoin and gold in an episode of the “Club Random” podcast, hosted by comedian Bill Maher and scheduled to be aired Monday. Maher said he is “ very anti-bitcoin ” and believes in the value of gold. Commenting on gold investing, the Dallas Mavericks owner opined : If you have gold, you’re dumb as f***. The podcast host proceeded to argue that gold “never goes away” and is “like a hedge against everything else.” Cuban replied: No, but it’s not a hedge against anything, right? What it is is the stored value and you don’t own the physical gold, do you? … Gold is...

Elon Musk: Twitter No Longer in Fast Lane to Bankruptcy

Tesla CEO and Twitter chief Elon Musk has confirmed that the social media company is no longer “in the fast lane to bankruptcy.” Nonetheless, the billionaire emphasized that there is still much work to do on the platform. “But overall it seems to be going in a good direction.” Twitter Won’t Go Bankrupt Anytime Soon, Says Elon Musk Tesla CEO and Twitter chief Elon Musk revealed over the weekend that Twitter will not be filing for bankruptcy anytime soon. He said on the All-In podcast Saturday: We’ve got the expenses reasonably under control, so the company’s not in the fast lane to bankruptcy anymore. “It has been quite a roller coaster,” he added. “It has its highs and lows, to say the least, but overall it seems to be going in a good direction.” Following the podcast, Musk tweeted clarifying that Twitter is not secure yet and there is still “much work to do.” The Twitter boss further shared on the podcast: “My error rate and sort of being the chief twit will be less over tim...

As the Fed Turns 109 Years Old, the US Dollar’s Purchasing Power Eroded by More Than 96% Since It Was Created

109 years ago, the U.S. Federal Reserve was created and ever since that day, the purchasing power of the U.S. dollar has dropped a great deal. Since the Fed started, more than 96% of the greenback’s purchasing power has been erased via inflation. The Purchasing Power of the U.S. Dollar After the Creation of the Federal Reserve on Dec. 24, 1913 Dwindles Lower During the last hundred years, economists have blamed the U.S. Federal Reserve for a great deal of America’s rising inflation. American economist and social theorist Thomas Sowell referred to the Fed as a “cancer,” and former politcians like Ron Paul have called on the masses to abolish the Fed. Prior to the creation of the Fed on Dec. 23, 1913, America had two central banks the preceded the current U.S. central bank. The first U.S. central bank started in 1791 which was the First Bank of the United States, a financial institution charted by Congress at the time. The second attempt to create a central bank in America was in 181...

BTC Wraps up 13 Consecutive Years of Recorded Market Value, With No Santa Rally in 2022

By the end of this year bitcoin will have 13 consecutive years of recorded market value under its belt. Seven of those years saw Santa rallies all the way up until New Year’s Eve, and five of the 13 years saw bearish returns from Dec. 1 to Dec. 31. There’s still six more days left until the end of 2022, but current market action seems to point toward negative returns this month. 13 Years of Bitcoin Prices in December 2022 wasn’t the greatest year for bitcoin (BTC) in terms of market value measured in fiat. At the start of the year, BTC was trading for roughly $46K per unit and since then, the price has tumbled 63% since the first of Jan. 2022. According to records , the first recorded nominal value of bitcoin in U.S. dollars was on Oct. 5, 2009 and it was selling for $0.00764 per BTC on New Liberty Standard (NLS). At that rate, whoever was buying bitcoins at that time via NLS could get around 1,309.03 BTC for $1. We cant really count 2009, as seeing gains during the last month ...

Snowden to Musk: ‘I Take Payment in Bitcoin’; Big Short Investor Says Audits of Exchanges like Binance and FTX Are ‘Meaningless,’ and More — Week in Review

Ahead of the holidays and new year, the former U.S. National Security Agency (NSA) contractor known to the world as a staunch privacy advocate and whistleblower, Edward Snowden, has offered to step up as the new CEO of Twitter after current “Chief Twit” Elon Musk has said he is stepping down. In other news from this week, hedge fund manager Michael Burry — of “The Big Short” fame — said that audits of cryptocurrency exchanges like FTX and Binance are “meaningless.” Get caught up on these hot stories and much more just below in this latest issue of the Bitcoin.com News Week in Review. Elon Musk Promises to Step Down as Head of Twitter — Edward Snowden Throws His Name in the Hat for CEO Tesla CEO and Twitter chief Elon Musk has promised to step down as head of Twitter. As the billionaire seeks a new CEO to run the social media platform, privacy advocate Edward Snowden threw his name in the hat, stating that he takes payment in bitcoin. “The question is not finding a CEO, the question...
Blogarama - Blog Directory