Day: August 27, 2019

Kleiman Estate Will Now Dump $2 Billion in Bitcoin

boss

Bitcoin (BTC) prices could face fresh volatility after Craig Wright was ordered to pay 500,000 BTC to the brother of Dave Kleiman, his late business partner. The payout — worth more than $5 billion at the time of writing — could attract an estate tax rate of 40%, which Kleiman’s estate will have to pay. There are now fears that 200,000 coins could be dumped on the market in order to settle $2 billion bill, potentially causing a crash. In an interview with fintech magazine Modern Consensus, Wright said he would comply with…

Everything You Need To Know About the OneCoin Crypto Ponzi Scheme

boss

Many investors who wanted to jump on the cryptocurrency wagon had thought that they found the perfect opportunity for that in the crypto investment scheme OneCoin. Unfortunately, OnecCoin turned out to be nothing more than a scam. In this in-depth article, we will review everything about the OneCoin crypto Ponzi scheme. Cryptocurrency has always been considered to be a risky business. Investing in it requires a certain amount of trust, and in the worst case, losses could definitely turn out to be huge. This puts a certain amount of responsibility…

US: IRS is sending additional CP 2000 notice letters to cryptocurrency investors

boss

The U.S. Internal Revenue Service (IRS) has again sent out compliance letters to investors of virtual currencies such as Bitcoin, whose tax return information did not match data reported to the IRS by third parties such as employers and banks. The CP 2000 notice letters will give individual investors detailed information about the mismatch the IRS identified and provide steps to be taken to resolve the issues. Phone numbers of IRS telephone assistors are also provided in the letter for the investors to interact with them to resolve any discrepancies.…

Report: Bitcoin most Profitable Cryptocurrency, Real Dominance Above 90%

boss

According to a news published by The Business Times on August 26, 2019, a new report by Arcane Research shows that the real Bitcoin dominance is more around 90 percent rather than the 70 percent mark, as indicated on CoinMarketCap. Why it Matters Bitcoin is the world’s largest cryptocurrency by market capitalization and commands a large portion of the trading volume in the cryptocurrency markets. Generally, most people are well aware of how Bitcoin has always been looked at as the dominant cryptocurrency but, over the past few years, the situation slowly came to…

Controversial UK Party Becomes Nation’s First to Reveal Crypto Policy

boss

A far-right party in the United Kingdom has published what it describes as the country’s first coherent cryptocurrency policy. On Aug. 24, the National Liberal Party (NLP) wrote a post on its website arguing that the U.K.’s current cryptocurrency policy is non-existent — and alleged the government has failed to take a stance on regulation. Failures of the political mainstream The NLP struck an alarmist tone in its post — claiming “UK Citizens have been defrauded by crypto criminals to the tune of billions” and that fraudulent cryptocurrency schemes continue to target consumers and…

CoinFlex Offers Physical Delivery of Bitcoin Futures to Asian Retail Investors

boss

Photo: CoinFLEX / Medium CoinFlex, a Roger Ver-backed crypto exchange which was launched earlier this year on February, claims to be the first exchange in the world which offers to close futures contracts in Bitcoin to a cash settlement. Their main target is the Asian retail investors to offer them an environment which avoids price manipulation in Bitcoin. The CEO of CoinFlex Mark Lamb believes that the Bitcoin futures market needs physical settlement because of the harsh Bitcoin price manipulation: “Professional and retail traders alike are affected by price manipulation…

Bitcoin Price Has 7% Chance to Hit $20K by End of 2019, Data Claims

boss

Bitcoin (BTC) price is only 7% likely to hit its previous all-time high of $20,000 before 2020, according to market forecasts. The latest data appearing on social media courtesy of the Twitter analyst known as Skew, highlighted the odds for investors betting on the future Bitcoin price had been slowly decreasing throughout 2019.  According to the data, which came via derivatives platforms LedgerX and Deribit, those chances of a return to $20,000 before the end of the year were 93% unlikely as of Aug. 27.  No expectation of Bitcoin price…

Craig Wright Lost Case Against Ira Kleiman, Must Give 50% of Bitcoin Mined

boss

The latest hearing in a multi-billion-dollar lawsuit resulted in Judge Bruce Reinhart recommending 50 percent of Wright’s BTC holdings mined prior to December 31, 2013, be awarded to the estate of Dave Kleiman. Few weeks ago we wrote of how a Florida federal judge had denied self-proclaimed Bitcoin inventor Craig Wright’s motion to dismiss a lawsuit concerning the alleged theft of a huge amount in Bitcoins from a former business partner, deceased Dave Kleiman. Yesterday it got even better. Florida federal judge Bruce Reinhart proposed that Craig Wright has to…

Congresswoman Maxine Waters Is Still Worried about Facebook’s Cryptocurrency Libra

boss

Recently, Congresswoman Maxine Waters, the chair of the US House Financial Services Committee visited Switzerland to learn more about Facebook’s Libra crypto project. Facebook has incorporated Libra in the crypto-friendly jurisdiction of Switzerland like many other blockchain-based firms and said that Libra will be issued and managed by the Geneva, Switzerland-based “Libra Association.” As a reminder, since the announcement of Libra, Facebook’s upcoming native cryptocurrency, the social media giant has been facing several obstacles from regulators. Some US Congress members even wrote an open letter to Facebook regarding the development…

Facebook Hires Lobbying Firm to Ease Regulatory Pressure on Libra

boss

Facebook has hired a Washington-based lobbying firm to help it grapple with the negative responses sparked by the announcement of its planned Libra cryptocurrency project. According to an O’Dwyer PR report published on Aug. 26, the social media giant is working with FS Vector — a consultancy firm that specializes in regulatory compliance, public policy, and business strategy for the fintech, cryptocurrency, blockchain and financial services sectors. The FS Vector Facebook account Facebook’s lobbying registration documents filed with the United States Congress reportedly reveal that the firm is retaining FS…