Florida Bitcoin Trader Faces Felony Charges for Selling Crypto to Undercover Police

It’s a case of police entrapment that goes beyond the pale. After a ruling Wednesday by the U.S. Third District Court of appeals, a Florida man will have to face a trial by jury over felony charges in Miami for selling bitcoin to undercover police. Felony Charges for a Victimless Crime? “Espinoza’s bitcoins-for-cash business requires him to register as a payment instrument seller and money transmitter” under Florida financial statutes, the court ruled Wednesday, adding that he was “not merely selling his own personal bitcoins, he was marketing a business.” Now he’ll face serious felony charges for money laundering as

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Crypto Exchange QuadrigaCX Claims They Can’t Find Their Wallets

Canadian-based QuardigaCX says they can’t find their cold storage wallets. In a notice published on its website, the crypto exchange says they have filed an application for protection under the Companies’ Creditors Arrangement Act (CCAA), a Canadian law which deals with bankruptcies in Canada. For the past weeks, we have worked extensively to address our liquidity issues, which include attempting to locate and secure our very significant cryptocurrency reserves held in cold wallets, and that are required to satisfy customer cryptocurrency balances on deposit, as well as sourcing a financial institution to accept the bank drafts that are to be

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Bitcoin’s Not the Only Asset Driven by FOMO: Why Stock Market Investors Should Be Concerned

As the bitcoin price gets crushed amid the Crypto Winter, financial commentators are warning stock market investors to not fall prey to reckless buying decisions rooted in FOMO (fear of missing out). As crypto bulls are aware, FOMO was cited as a key driver of the record bitcoin price at the height of the crypto bull market in December 2017. ‘Most Powerful Force In Market Is Fear’ “The most powerful force in the market is fear,” financial commentator James DePorre writes at Real Money. When fear of losing takes hold, it creates powerful downside momentum. And when fear of missing

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Bitcoin Price Sinks Further from $3,500 as Crypto Market Endures More Losses

Gains were few and far between in the crypto market over the 24-hour period, with Augur presenting a notable exception while gaining less than 2%. The Bitcoin price remains in disunity across several markets. Bitfinex has it for $3,511, but Coinbase users can buy it for $3,421. Such huge spreads are interesting in that the arbitrage opportunities are so glaring. How long they will persist is more up to the market participants than it is the exchanges. Coinbase Pro had a daily volume of $55 million versus Bitfinex’s $102 million. BitMEX, however, which did three-quarters of a billion dollars in

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Who is Actually Going to Buy Iran’s New Cryptocurrency?

Iran is creating a state-backed cryptocurrency. The options for the digital token are currently open. Reportedly, it’s initially only for crypto companies to do business with the Central Bank of Iran. Later, it will be used as a means to facilitate payments between Iran and other countries for goods and services. Iran was kicked off the SWIFT network last year, essentially disabling their ability to trade efficiently. In response, Russia and other partner nations announced they’re working on a SWIFT-alternative using the blockchain. Worth Less Than A Satoshi After 87 Years The Iranian rial is currently equivalent to $0.000024. To

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Facebook Stock Soars Despite Privacy Issues: Why Won’t Investors Take Their Heads out of the Sand?

Facebook users are either very naive or just not easily phased. They helped the social media giant set revenue records during the last quarter when it was plagued by data breaches and privacy concerns. Not only did the seemingly-embattled media behemoth report record earnings, but it also reported a significant increase in user growth. Facebook Stock Shrugs off Privacy Concerns Users were undeterred by the data breaches Facebook was forced to admit had occurred. Businesses who collectively spend billions of dollars advertising on the social media service were also undeterred as they continued to plow funds into buying ads on

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Breaking: CBOE Re-Files Bitcoin ETF Application Following End of Government Shutdown

US stock exchange operator CBOE has resubmitted its application to list a bitcoin ETF on one of its trading platforms, just days after the firm withdrew its previous bid. CBOE & VanEck Resurrect Bitcoin ETF Bid That bitcoin ETF, the VanEck SolidX Bitcoin Trust, would allow wealthy traders and institutions to invest in bitcoin through a convenient — and familiar — investment vehicle. VanEck digital asset head Gabor Gurbacs made the announcement on Twitter, noting that it was the product of “ard work from all teams involved.” The VanEck SolidX Bitcoin ETF proposed rule-change has been submitted by CBOE. Hard

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Why Nasdaq’s Bitcoin Exchange Partnerships Prove the Crypto Industry is Growing up

A total of seven cryptocurrency exchanges have contracted with Nasdaq to use its surveillance technology. The technology, which has various products including SMARTS (which was adopted by Gemini), enables Bitcoin exchanges to identify fraudulent trading patterns. How Nasdaq Evaluates Crypto Exchanges According to Forbes writer Michael del Castillo, Bitcoin exchanges must have more than enough capital to cover the steep fees Nasdaq charges to license its technology. Nasdaq conducts a means test which focuses on the backgrounds of exchange executives as well as practices within them. Exchanges must list reputable tokens and must have a solid process through which they

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