Bitcoin 

Disgruntled Bitcoin Investor Brings $22.5M Class Action Suit to Israeli Bank

An unnamed investor has filed a lawsuit against the Israeli Bank Hapoalim in the amount of approximately $22.5 million, on account of the bank allegedly refusing to accept deposits of profits earned via Bitcoin (BTC).  Industry media outlet BlockTV discussed the lawsuit in a report on Aug. 9. According to the report, the complaint is being filed as a class action suit, and the investor ultimately plans to sue other Israeli banks on the same grounds.  According to the report, Israeli banks are largely anti-crypto because they wish to avoid…

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Ethereum 

Chinese Company The9 Said to Be First Foreign Telegram ICO Investor

According to a filing with the United States Securities and Exchange Commission, the Chinese company The9 Ltd bought 5,297,257 tokens during a Telegram initial token offering in January 2018 for $2 million dollars. The filing also states that The9 has invested in multiple blockchain-based companies as of 2018.  According to a report by Russian business news agency RBC on July 24, this document is evidence of The9 as the first publicly-known foreign investor. Per RBC, Telegram’s initial coin offering (ICO) investors are largely unknown.  During the first ICO, 81 investors…

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Bitcoin 

China Ruling Bitcoin is Property Again Is ‘Major Milestone,’ Says Investor

Bitcoin (BTC) has gained legal recognition by a second Chinese court in a further boost for the cryptocurrency in one of its harshest environments. A watershed for Bitcoin in China According to investor Dovey Wan, who linked to local media coverage, the Hangzhou Internet Court formally described Bitcoin as virtual property on July 18.  The second such court to attribute property status to Bitcoin, the ruling came about as part of a dispute between a now-defunct exchange and one of its users who lost funds.  For Wan, the case marks…

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Ethereum 

Bitcoin Price Hits $12.8K as Major Investor Says $100K ‘Quite Easy’ by 2021

Bitcoin (BTC) felt more bullish than ever June 9 after another 24 hours of upside propelled markets close to $13,000.  Market visualization courtesy of Coin360 Data from Coin360 painted a rosy picture for cryptocurrency traders, with bitcoin still leading the way in terms of daily gains.  At press time, BTC/USD was up 11% versus Monday on $12,666. The pair had reached as high as $12,707 before a slight pullback below the $12,700 barrier.  Bitcoin 7-day price chart. Source: Coin360 The fresh moves further challenge theories bitcoin was due a downward…

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Bitcoin 

Bitcoin Useful as Investor ‘Tip-Off,’ Says Gold Bug Who Predicted 90% Price Crash

Bitcoin (BTC) could inform investors worried about the United States–China trade war, an executive from financial planning and wealth advisory firm Bleakley Advisory Group told CNBC in an interview on June 4. On the back of stock market weakness over fears the trade war could escalate and the dollar weaken, Bleakley’s chief investment officer, Peter Boockvar, drew attention to bitcoin’s recent behavior and highlighted gold as a potential alternative. A well-known gold bug, Boockvar nonetheless said he did not advise buying bitcoin itself, but that it was a useful measure…

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Bitcoin 

I Would Not Long or Short Bitcoin, Says Billionaire Stablecoin Investor Druckenmiller

American billionaire Stanley Druckenmiller has doubled down on his distrust of bitcoin (BTC), Bloomberg reported on June 4, quoting a recent interview. Speaking to Scott Bessent, founder of Key Square Capital Management at The Economic Club of New York, Druckenmiller said he would still not be interested in placing any of his $4.4 billion worth into the cryptocurrency. “I don’t think I’m a neanderthal, which is what I’ve been called when I’ve said I didn’t want to own Bitcoin,” he summarized. Druckenmiller added he would neither long nor short bitcoin…

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Bitcoin 

Morgan Creek CEO Says Every Investor Should Hold Some Bitcoin

CEO of Morgan Creek Capital Mark Yusko says bitcoin (BTC) should be in every investor’s portfolio in an interview with CNBC on May 22. Yusko remarked that he thinks BTC investments will far outperform the S&P 500 investment fund over the next 10 years.When asked about putting money into BTC, Yusko said: “Bitcoin is a great diversifying asset. It has very low correlation. It should be in everybody’s portfolio.” Yusko also recalled his $1 million ‘Buffet Bet 2.0’, in which Morgan Creek Digital made an open bet that its Digital…

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Bitcoin 

Bitcoin Will Be ‘Alive and Well,’ Says Renowned Emerging Markets Investor Mark Mobius

Veteran frontier markets investor Mark Mobius has said he believes cryptocurrencies will show resilience due to continuing demand for new forms of value transfer. Mobius made his remarks during an interview with Bloomberg on May 15. Mobius is a seasoned and pioneer investor in developing nations and emerging economies, earning international recognition for his decades-long work at global investment firm Franklin Templeton. Last year, he retired to launch a new asset management boutique, Mobius Capital Partners. Having previously adopted a cautious stance toward crypto, the investor told Bloomberg yesterday that…

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Blockchain 

US Blockchain Investor Terpin Awarded Over $75 Million in SIM Swapping Case

United States blockchain and crypto investor Michael Terpin has won $75.8 million in a civil case against 21-year-old Nicholas Truglia, who reportedly defrauded him of crypto assets. Reuters reported the news on May 10. Per the report, the California Superior Court last week ordered Manhattan resident Truglia to pay the amount above in compensatory and punitive damages. The amount is reportedly one of the largest court judgments awarded to an individual in the crypto space thus far, Reuters notes. As previously reported, Terpin filed the complaint against Truglia in particular…

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Blockchain 

Former Investor Sues OneCoin Scheme, Seeks Class Action

Former OneCoin investor Christine Grablis is suing the cryptocurrency investment scheme for fraud, according to a complaint filed on May 7. Grablis is seeking damages and a class action suit to represent other investors purportedly defrauded by OneCoin. The full list of defendants in this lawsuit — Grablis v. OneCoin Ltd. — includes OneCoin Ltd, Ruja Ignatova, Konstantin Ignatov, Sebastian Greenwood, Mark Scott, along with other potential parties who have yet to be named. According to a Bloomberg report on May 7, OneCoin founder Ruja Ignatova has been charged with…

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