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The United States Department of Justice (DOJ) filed a lawsuit Thursday to stop Visa’s planned $5.3 billion acquisition of fintech firm Plaid, saying it violates antitrust laws and would eliminate competition in the online debit market. Filed in a Northern California federal court, the lawsuit described Visa as a “monopolist” in online debit transactions and noted its proposed acquisition of...
A wallet possibly belonging to early dark net market Silk Road moved almost $1 billion worth of bitcoin early on Wednesday, according to blockchain intelligence firm Elliptic. Bitcoin address "1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx" transferred 69,369 BTC to an unknown wallet. The transaction was also noted by Twitter bot @Whale_alert 11 hours ago. "These funds likely originated from the Silk Road," Tom Robinson, co-founder...
The U.S. government is seeking harsh sentencing for the founder of the company behind a fraudulent, celebrity-promoted initial coin offering from 2017. U.S. federal prosecutors are pushing for a heavy prison sentence to be levied against one of the founders of Centra Tech — the company behind a notorious initial coin offering (ICO) in 2017 that was promoted by professional...
The top officers of HDR, the parent company of crypto trading platform BitMEX, which has been charged with facilitating unregistered trading and other violations, systematically looted $440,308,400 from HDR accounts, a civil lawsuit claims. A spokesperson for HDR called the claims “spurious.” The suit, filed on behalf of plaintiffs BMA LLC, Yaroslav Kolchin and Vitaly Dubinin, seeks an order of...
Investors who say they lost hundreds of thousands of British pounds in an alleged cryptocurrency fraud have had no luck persuading the police that there was, in fact, a crime committed. According to an investigation by the Metro newspaper published Tuesday, a number of investors said they had invested in a cryptocurrency project called Lyfcoin on promises of hefty returns,...
A survey conducted by digital asset manager Grayscale Investments suggests investor interest in bitcoin is on the rise and the top cryptocurrency by market cap is well on its way toward mainstream adoption. Released Tuesday, Grayscale's "Bitcoin Investor Study" revealed more than half (55%) of U.S. investors who responded are interested in buying bitcoin (BTC) in 2020. Compared to the...
Alibaba Group founder Jack Ma criticized global financial regulations for stifling innovation and urged China to seek a system that accommodated development. “After the Asian financial crisis, the risk control highlighted in the Basel Accords has been” the priority for regulators, Ma said at the Bund Summit in Shanghai on Saturday. Now the world “only focuses on risk control, not...
Digital asset manager Grayscale Investments has acquired an additional $300 million in cryptocurrencies over the last 24 hours. Grayscale CEO Barry Silbert made the announcement via tweet late Thursday evening, shortly after his company posted an update to its digital asset portfolio. "Added a cool $300 million in assets under management in one day," Silbert said. The additional sum brings...
Call it Crypto Lite – for now. Fintech giant PayPal confirmed its long-awaited move into digital assets Wednesday, offering its 346 million users the chance to buy, hold and sell bitcoin, bitcoin cash, ether and litecoin, with the blessing of New York state regulators. While the cryptosphere acknowledges the bullishness of a firm the size of PayPal making a move...
This week saw more exchange drama rock the crypto markets. OKEx, one of the industry’s largest crypto-fiat exchanges, suspended all cryptocurrency withdrawals, saying one of the exchange’s key holders has “been out of touch” with the exchange because they are “currently cooperating with a public security bureau in investigations.” Coming hard on the heels of the BitMEX indictments from a...
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