Day: May 28, 2021

S.E.C. charges 5 for illegally promoting $2 billion Bitconnect Ponzi

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Three years and some unforgettable memes later, the Securities and Exchange Commission has announced that 5 individuals will face charges relating to promoting the Bitconnect Ponzi scheme.  “The SEC’s complaint alleges that these promoters offered and sold the securities without registering the securities offering with the Commission, and without being registered as broker-dealers with the Commission, as required by the federal securities laws,” the release reads. The promoters, including Trevon Brown, Craig Grant, Ryan Maasen, and Michael Noble are said to have “advertised the merits of investing in BitConnect’s lending…

Stablecoin company earns record-level investment sum for a crypto outfit

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Crypto companies have been on the rise in tandem with the industry’s growth in recent years. A report from Forbes recently detailed a number of large investments into blockchain and digital asset entities, with one $440 million play rising to the forefront.  “Circle, creator of the second-largest stablecoin, USDC, has just raised $440 million in private investment from an array of private equity, institutional and strategic investors,” Forbes wrote on Friday. Circle inked the deal on Friday, capturing investment from Fidelity Management and Research company, FTX, and others. The article…

SEC Charges Five Individuals Tied to BitConnect Scam

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Key Takeaways The U.S. SEC has charged five individuals with connections to the crypto Ponzi scheme BitConnect. BitConnect was mainly active in 2017. It raised more than $2 billion during the year that it was operational. Regulators initially took action against BitConnect in 2018. Share this article The U.S. Securities and Exchange Commission has charged five individuals in connection with the Ponzi scheme BitConnect. SEC Charges BitConnect Promoters The SEC says that from January 2017 to January 2018, BitConnect sold its cryptocurrency securities through four main promoters: Trevon Brown (aka…

Vitalik argues that proof-of-stake is a ‘solution’ to Ethereum’s environmental woes

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At a conference yesterday, Ethereum co-founder and unofficial figurehead Vitalik Buterin argued that Ethereum’s upcoming transition to a proof-of-stake consensus mechanism is a “solution” to the blockchain’s rampant energy consumption that has been incensing critics as of late. In an interview at the StartmeupHK virtual conference hosted from Hong Kong, Buterin said that while proof of stake is “still in its infancy and less battle-tested” than Ethereum’s current proof-of-work model, it can ultimately reduce the chain’s energy consumption by upwards of 10,000x. The comments come amid a period of rampant…

Bearish signals grow as Bitcoin price drops to $35K and traders ignore the dip

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The cryptocurrency market faced a new wave of selling pressure on May 28 as Bitcoin (BTC) price dropped to $35,100 and traders seem generally disinterested in buy the dip ahead of the weekend. Despite the downside moves seen across the market over the past couple 2 weeks, institutional investors have for the most part held firm in their resolve to stay committed to cryptocurrencies but the absence of ‘we bought the dip’ announcements have retail traders wondering if Bitcoin price is in for further downside. BTC/USDT 4-hour chart. Source: TradingView…

How Livepeer traders got a sneak preview of an impending 300% price boom

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Crypto traders will take any edge they can get. From fundamental research on long-term prospects to short-term price pumps created by new exchange listings, the 24/7 digital asset market provides opportunities for investors and traders of all stripes. But this week, those traders who incorporate the Cointelegraph Markets Pro VORTECS™ Score into their research had a special reason to celebrate the inherent volatility that makes risk-averse traders cringe… and seasoned crypto pros pop champagne corks. LPT, the Ethereum-based native token of decentralized video streaming network Livepeer, has seen some extraordinary ups…

Bart Simpson Is Back In Bitcoin

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The crypto market is in fierce debate: is the top of the Bitcoin bull market in? Bears salivating for cheaper coins say yes, while bulls hell bent on seeing through stock-to-flow predictions say otherwise. But which is it? A secondary conflict surrounds the topic: “if that was a top, it sure doesn’t look like one.” And while that is indeed true, don’t have a cow, man. We’re about to explain why the most recent top ushered in the return of Bart Simpson, along with why the move likely happened the…

Polygon Datasets Now Available on Google Cloud

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Key Takeaways Polygon’s blockchain datasets can now be viewed through Google Cloud’s BigQuery tool. The integration will provide useful metrics for analysis like the most active and popular tokens, contracts, and apps on the network. The team said that the update will be critical for the network’s growth. Share this article Ethereum’s popular scaling network Polygon has announced that its blockchain datasets are now integrated with Google Cloud’s BigQuery tool. Polygon Data Available on Google Cloud Polygon’s datasets are now available in Google Cloud. According to Polygon, the integration with…

Sotheby’s moves $10 million CryptoPunk to solo auction event

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One ultra-rare CryptoPunk is set for some extra stage time at a hotly anticipated upcoming auction.  In a Tweet today, luxury auction house Sotheby’s announced that the sale of CryptoPunk #7530, also known as “Covid Alien”, will be offered during a “special, standalone” auction. The Punk was previously announced as part of the “Natively Digital” event, which highlights the history of NFTs and cryptoart with a selection of pieces that include what many consider to be the first-ever NFT, Kevin McCoy’s “Quantum,” an animation minted in 2014 on the Namecoin…