Bitcoin 

US FTC Settles With Alleged Crypto Pyramid Scheme for $500,000

The United States Federal Trade Commission (FTC) has settled charges it filed in 2018 against an alleged crypto pyramid scheme involving four individuals. Terms of settlement According to an official statement on Aug. 22, the regulator permanently banned the defendants from multi-level marketing and misrepresenting investment opportunities and charged a total of over $500,000 as part of the settlement. In March 2018, the FTC first obtained a court order against Thomas Dluca, Eric Pinkston, Louis Gatto and Scott Chandler that stopped their misleading marketing practices and froze their assets. At…

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Bitcoin 

US Man Pleads Guilty to Running $25 Million Bitcoin Laundering Scheme

A Los Angeles man pleaded guilty to running a $25 million Bitcoin (BTC) money laundering scheme and sale of methamphetamine. Possible life sentence News outlet U.S. News reported on Aug. 23 that 25-year-old Kunal Kalra has pleaded guilty to charges including money laundering and distributing methamphetamines. Per the report, he could be sentenced to life in prison. The authorities allegedly claim that from 2015 through 2017 Kalra exchanged BTC and dollars, ran a Bitcoin ATM and admitted to making deals with drug dealers and other criminals. Sold meth to an…

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Bitcoin 

This Week in CT Spain

As many of our readers probably know, Cointelegraph has a number of non-English branches, each covering news from different parts of the world.  In pursuit of the most complete and detailed picture of the global cryptocurrency industry, we present a series of weekly compilations of the freshest original articles from our colleagues, starting with Cointelegraph in Spanish. On Aug. 22, Cointelegraph in Spanish spoke with Daniel Pons Ayala, founder and CIO of Cresio, a platform that allows users to operate on multiple crypto exchanges simultaneously using the same application. Ayala…

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Bitcoin 

Ex-Morgan Stanley Exec Joins His Former Colleagues at Shenzhen Crypto Firm

Former Morgan Stanley Asia head of derivatives Jeffrey Wang officially joined Amber Group, a Shenzhen-based cryptocurrency company. As Bloomberg reported on Aug. 23, Wang will operate out of Vancouver as the head of Americas for Amber. According to the article, he previously worked at Morgan Stanley with four out of the five Amber’s founders, and two of them — Wayne Huo and Tony He — used to report directly to Wang. No rest for the crypto market This decision reportedly bought Wang back to work after taking the past three…

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Bitcoin 

Telx Technologies Launches First Crypto-Facilitating SIM Card

Cryptocurrency and telecommunications company Telx Technologies announced the launch of the first crypto SIM card wallet that enables transactions via SMS. According to the company’s Medium post published on Aug. 22, the card allows its users to send cryptocurrencies via SMS with their dedicated crypto phone number. Notably, these transactions do not require a smartphone or an active Internet connection. On the other hand, the system also offers no control over a user’s crypto wallet. Crypto transactions on ‘dumbphones’ As the crypto community tried to teach those new to the…

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Bitcoin 

Binance Offers Lifetime VIP Membership to KYC Leak Victims

Major cryptocurrency exchange Binance announced that it will offer a lifetime VIP membership to all its users affected by the recent Know Your Customer (KYC) images leak on the platform. According to the official blog, currently Binance is “actively contacting all potential victims with […] guidance on privacy protection and restitution,” and highly recommends “affected users to apply for new identification documents in their respective region.” The post also states: “We are compensating affected users with a lifetime Binance VIP membership, including preferential trading fees, support, and more services.” When…

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Bitcoin 

Research Suggests Tether Sentiment Could Provide Chance for Manipulation

New research from Augmento suggests a forward correlation between Tether sentiment, market capitalization and price, which could be manipulated or exploited to create arbitrage opportunities.  It hypothesizes that Tether sentiment could therefore provide a signal for traders in a blog post published Aug. 22. Sentiment correlation with market cap Augmento notes that Tether sentiment does not appear normal. Comparing positive and negative sentiment shows that negative sentiment dominates, with extreme spikes of intense discussion when news breaks, before dropping quickly away. When considering this alongside changes in market cap and…

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Bitcoin 

Bitcoin Advocate Becomes ‘Nobody’ to Run for New Hampshire Town Mayor

A Bitcoin advocate who has changed his name to “Nobody” was first in line to file his candidacy for Mayor of Keene on Aug. 21. The town in the state of New Hampshire, United States, has been dubbed Crypto-Mecca for its positive attitude towards Bitcoin and cryptocurrency. “Nobody” tells the truth Throwing a curveball into the usual election process, “Nobody” aims to provide an alternative to the major candidates. One of these, city councillor, Mitch Greenwald has already welcomed “Nobody” to the mayoral race, saying that his campaign was needed.…

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Bitcoin 

UK Employee Explains Why He Chose a 100% Bitcoin Salary

“People always ask how I am coping with living on Bitcoin,” a British software developer told The Mirror in an interview this week, “but the truth is that my lifestyle hasn’t really changed.” The Mirror — a British daily tabloid founded over a century ago — ran its interview with 24-year old Zakk Lakin on Aug. 22.  An employee at crypto exchange Coin Center, Lakin was given the option to receive part — or all — of his salary paid in cryptocurrency, and he went the full monty. 100% Bitcoin…

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Bitcoin 

‘Wall Street Has Been Asleep at the Wheel’

The Winklevoss twins — Bitcoin (BTC) bulls and founders of the Gemini crypto exchange — say its retail investors who are still largely reaping the benefits of the crypto market. In an interview with CNN Business on Aug. 22, Tyler and Cameron Winklevoss gave their perspective on Bitcoin as an investment, industry risks and the traditional financial sector’s approach to the new asset class. Buying a piece of the new internet of money While many still regard Bitcoin as too risky a bet for the average investor, Tyler argued that…

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