Chinese Group Looking to Buy One of Latin America’s Largest Bitcoin Mines

Rocelo Lopes, CEO of Stratum, CoinPY, and one of the leading names in the Bitcoin and cryptocurrency market in Latin America, is negotiating the sale of Brazilian-owned, Paraguay-registered mining farm CoinPY, once a leading crypto company in Latin America. According to exclusive information obtained by Cointelegraph, the negotiation is already advanced and the entire mining plant in Paraguay will be sold to a Chinese group that already operates similar farms in China. Chinese miners concerned about tightening regulations The group reportedly sought out Lopes for regulatory reasons, imagining a difficult…

US DOJ Calls Bitcoin Mixing ‘a Crime’ in Arrest of Software Developer

Larry Harmon was arrested earlier this week for allegedly participating in a money-laundering conspiracy worth more than $300 million in cryptocurrency involving darknet marketplace AlphaBay. However, the family of the Coin Ninja CEO claims he was never involved with AlphaBay. Harmon’s case raises pressing questions about developer liability in the crypto industry. In addition to the crypto media site Coin Ninja, Harmon created the bitcoin mixer Helix, which sends transactions out in mixed batches so individual payments are harder to trace. In its indictment, Department of Justice prosecutors refer to…

IOTA Foundation Suspends Network, Probes Fund Theft in Trinity Wallet

IOTA Foundation, the nonprofit behind the IOTA distributed network, recommended users close their Trinity wallets Thursday after multiple reports of fund theft.  IOTA said it started receiving the reports Wednesday and decided to shut off the Coordinator node in the network for further investigation.  The foundation is evaluating an exploit on an earlier version of its wallet. It is also trying to analyze the hackers’ attack pattern and complete a manual verification, according to the foundation’s latest statement.  “First (but not all) exchanges have responded, reporting that no monitored funds…

Novogratz’s Crypto Investment Firm Galaxy Digital Shrinks Workforce 15%

Galaxy Digital, the cryptocurrency merchant bank founded by Wall Street veteran Michael Novogratz, has laid off 13 people, roughly 15 percent of its workforce, people familiar with the situation said. The layoffs occurred across the board in early January, and all of the New York-based firm’s business divisions – asset management, trading, principal investments, and advisory services – were left intact. In other words, no business line was singled out or discontinued. Nearly 80 people remain on staff. The company is hiring for several open positions, one source close to…

Millions of Online Retailers Can Now Accept DAI on Coinbase Commerce

Coinbase Commerce, a platform that supports cryptocurrency payments for internet retailers, has added MakerDAO’s DAI stablecoin as a supported payment method this week.  This integration will let merchants around the world accept the USD-pegged stablecoin as payment for goods and services without Coinbase Commerce taking any extra fees. Merchants can add a “pay with crypto” button to their checkout process, or choose to accept DAI only. Shop owners can also currently earn a DAI savings rate of 7.5%. This could open doors to over 800,000 stores and 3 million web…

This ‘Earth Destroyer’ Asteroid Could Kill You First

As if the coronavirus plague isn’t terrifying enough, the Earth will cross paths with a planet-destroying asteroid this Saturday. It’s larger than the tallest building on Earth, and big enough to trigger a major impact event, nuclear winter, and mass extinctions. NASA has officially classified the planet killer as a “Potentially Hazardous Asteroid” (PHA). It will miss by just 0.038 astronomical units. In a recent poll, a majority of New Hampshire Democrats said they’d rather a meteor extinguish all human life on Earth than Donald Trump win reelection. Just 36%…

CME Sees Second-Best Month for Bitcoin Futures Trading

January was the second-best month for CME’s Bitcoin futures trading since its 2017 launch, averaging 10,800 contracts, 69% greater than the average daily volume in 2019. Last month also saw new options on Bitcoin futures picking up pace. Since launch, 466 options contracts, or 2,300 equivalent Bitcoin, have traded—nearly 40% as blocks, showing signs of institutional interest, CME said. It also registered a record monthly average of 56 large open interest holders (entities that hold 25+ contracts). The Chicago Mercantile Exchange (CME) launched its Bitcoin futures options last month, with…

Iran Concerns May Be Driving Trump Administration’s Talk of New Crypto Rules

Tensions with Iran may be behind U.S. Treasury Secretary Steven Mnuchin’s cryptocurrency compliance comments on Wednesday. The New York Times reported the Trump administration “has expressed growing concern” that this technology is being used to “evade American sanctions on countries like Iran.” Earlier this week, the Parliament of Iran Research Center published a report suggesting cryptocurrency mining licenses issued in January could generate new tax revenue and bureaucratic fees. A related proposal by the same government-run center suggested this could bring the government upwards of $1 billion in annual revenue…

Explosion in Coronavirus Cases Sends Gold to 10-Day High

Gold peaked at $1,518.70/oz. Thursday and is on track for its highest settlement in ten days. Alarmed by the recent spike in coronavirus infections, investors piled into bullion and other haven assets to mitigate risk. U.S. consumer-price growth was muted in January but above trend compared with a year ago. The price of gold rallied on Thursday after an unexpected surge in reported coronavirus infections curbed appetite for risk. While stocks have recovered from an early-morning slump, gold continued to hold gains heading into the close. Gold Rallies, Silver Follows…

Bloomberg Channels Sun Tzu to Hit Trump Where Rival Dems Can’t

Donald Trump may have met his match in Mike Bloomberg. Leveraging classic tactics from “The Art of War,” the former NYC mayor is using his wealth to lean on President Trump’s billionaire brand. The DNC’s tired tactics have only solidified Trump’s support base. Bloomberg is not making that mistake. Mike Bloomberg is surging in the polls. His limitless resources have allowed him to pounce on the miserable decline of Joe Biden. His next challenge? Fending off Donald Trump’s height jokes. No problem there. The former New York City mayor is…