Month: November 2020

The U.S. Department of Justice (DOJ) has extradited the man accused of being one of the co-founders of the global cryptocurrency Ponzi scheme AirBit Club.  The Acting U.S. Attorney for the Southern District of New York, Audrey Strauss, said Monday the accused, Gutemberg Dos Santos, was extradited from Panama last week. Along with co-defendants he has
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Microsoft’s executive vice-president of gaming Phil Spencer made an appearance on The Verge’s Decode podcast. The Xbox head candidly describes console tribalism as ‘one of the worst things about our industry.’ According to Spencer, the focus should be on industry wide success rather than the failure of the perceived opposition’s product. Xbox head honcho Phil
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Another look at the bitcoin valuation models that could possibly lead to a six-figure bitcoin valuation over the course of the next year. On this edition of The Breakdown’s Long Reads Sunday, NLW reads a recent piece by Hong Fang, CEO of OKCoin.  In it, Fang provides a set of valuation models and scenarios that plausibly lead
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This entire article is Saifedean’s fault.  Saifedean Ammous, author of “The Bitcoin Standard,” kept heaping steak tartare onto my plate at a Bitcoin meetup back in August 2018, in between jokes about liberal plebs.   As the youngest woman in the room, per usual, I wanted acceptance from the Bitcoin clan. Despite nearly a decade of
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The New York Times has published a critique of Coinbase’s internal diversity policies, with several former employees complaining of “racist or discriminatory” treatment.  The report by journalist Nathaniel Popper, published Friday, is based on commentary from 23 current and former Coinbase employees. It paints the picture of a company that “has long struggled with its
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Crypto custodian Copper is looking to connect institutions to the emergent world of decentralized finance (DeFi) with a newly unveiled product.  Announced Friday, CopperConnect is a bridge between Copper’s existing storage services and DeFi apps. In a press release for the new tool, Copper claims DeFi risks have been decreasing, making the speculative field more
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Libra, the Facebook-linked stablecoin targeted continuously by lawmakers, might get off the ground as early as January 2021, albeit in a more limited format than the original multi-currency basket envisioned. According to a report by the Financial Times on Friday, the Libra stablecoin project might actually see the light of day, according to “three people involved in
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Newly discovered emails between Satoshi Nakamoto, Bitcoin’s pseudonymous creator, and the late Hal Finney deepen the mystery around the cryptocurrency’s origins.  The three emails come from Bitcoin’s earliest days, when its future was uncertain. They show how closely Satoshi collaborated with early supporters at the time of Bitcoin’s launch.  While anything written or coded by
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A reading of one of the most enduring early investor arguments for bitcoin. When NLW asked Crypto Twitter for recommendations of the best way to convince friends and family about bitcoin and crypto, one of the ideas was to review old articles that have stood the test of time.  Even among prescient early pieces, this one is
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Malta-based cryptocurrency exchange OKEx has reopened withdrawals five weeks after an abrupt suspension. In a short blog post on Thursday, the exchange announced that it was lifting the freeze at 08:00 UTC and pointed users to a compensation and loyalty program in an attempt to appease disgruntled users. As reported by CoinDesk on Wednesday, OKEx
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President-elect Joe Biden may name former Commodity Futures Trading Commission Chair Gary Gensler to become Deputy Treasury Secretary, CNBC reported Wednesday. Gensler, who is currently heading up Biden’s financial oversight transition team, would report to former Federal Reserve Chair Janet Yellen, Biden’s reported nominee for the top spot at the Treasury Department. He is perhaps
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Coinbase cuts margin trading. Binance sweeps out U.S. customers. OKEx offers rebates to clients affected by its five-week pause. Top shelf Tax changeCoinbase will no longer send customers 1099-Ks, the U.S. tax form that led the Internal Revenue Service (IRS) to mistakenly think traders had underreported their gains. The exchange will instead use the 1099-MISC
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Blockchain technology isn’t exactly the first thing you’d associate with the 94-year-old monarch, Queen Elizabeth of the United Kingdom. However, a blockchain journal from the British Blockchain Association has caught the Queen’s eye. Validation and support from such a prominent figure will certainly not harm the fledgling industry. When I think of publications and projects
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Crypto exchange Coinbase plans to end all margin trading effective Nov. 25, 2020, due to recent regulations by the Commodity Futures Trading Commission (CFTC). The San Francisco-based trading platform announced Tuesday that it would prevent customers from placing new margin trades beginning at 2 p.m. PT (22:00 UTC) on Wednesday, while simultaneously canceling any open
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