$28 Million Maryland Ponzi Scam Offered Crypto Payout

Key Takeaways The FBI is seeking victims targeted by a $28 million Ponzi scam. The perpetrators posed as pastors and promised returns on cryptocurrency and foreign exchange investments. There have been several similar crypto fraud cases in the past. Share this article The FBI is investigating a Ponzi scheme in which three people stole $28 million by promising returns on cryptocurrency and other investments. Ponzi Promised Crypto Returns According to a Dec. 18 release, the alleged perpetrators operated an investment company, Smart Partners LLC, formerly “1st Million.” Three individuals—Dennis Jali,…

Yearn.finance (YFI) Could be Coiling Up for a Rally; Analysts Eye $27,000

Yearn.finance’s YFI governance token’s price has been stagnant as of late, hovering within the lower-$20,000 region without being able to gain any serious momentum. This comes as the entire DeFi space generally sits within a consolidation phase. Investors’ attention is concentrated on Bitcoin as most altcoins – including Ethereum – stagnate and lose ground against the benchmark cryptocurrency. From a fundamental standpoint, Yearn.finance’s ecosystem is stronger than ever, and the introduction of new products and new parts of the ecosystem are only making it stronger. Although this has yet to…

Bittrex Stops Trading Three Key Privacy Coins

Key Takeaways Bittrex has decided to delist XMR, ZEC, and DASH. Though some observers have pointed to regulation, the reason for the exchange’s decision is unclear. Other exchanges have previously delisted privacy coins. Share this article Crypto exchange Bittrex has chosen to remove three of the cryptocurrency space’s leading privacy coins. The exchange will delist Monero (XMR), Zcash (ZEC) and Dash (DASH) on Jan. 15.  Bittrex Takes Drastic Action News of the delisting was shared via the company’s blog this week, though no reason was given for the decision. All three…

Altcoin Drastically Pumps And Dumps Against Bitcoin

The Bitcoin bull market is here, the asset is trading at nearly $30,000, and an awful year just came to a close – investors are in their right to be celebrating and having a little bit of fun with their profits.  But one altcoin that recently was sent skyrocketing immediately was swatted back down, nearly retracing the entire move. Speculation points to a pump and dump group behind the surprise move, but there could be another factor involved that could act as a dark cloud hanging over altcoins for many…

Crypto derivatives gained steam in 2020, but 2021 may see true growth

2020 was the most important year for the crypto derivatives market so far. Both Bitcoin (BTC) and Ether (ETH) derivatives steadily grew throughout the year, with their futures and options products available across exchanges such as the Chicago Mercantile Exchange, OKEx, Deribit and Binance.  On Dec. 31, Bitcoin options open interest reached an all-time high of $6.8 billion, which is three times the OI seen 100 days before that, signifying the speed at which the crypto derivatives market is growing amid this bull run. The bull run has led to…

Bitcoin hits all-time high against gold as haven battle rages

The Bitcoin (BTC) price claimed another all-time high on Friday, this time against gold, offering further confirmation that demand for digital assets is on the rise.  As Bitcoin zipped past $29,000 on Friday, the digital currency reached a high of 15.40 gold ounces, surpassing the previous peak from Dec 2017, according to MarketWatch data. Bitcoin priced in gold bullion via MarketWatch According to U.Today, the Bitcoin-gold rate peaked at 15.62 ounces during the early morning. 2020 was a watershed year for Bitcoin as institutional adoption helped catalyze a bull market…

FinCEN Seeks Info on US Citizens’ Offshore Bitcoin Holdings

Key Takeaways FinCEN has proposed amending its current foreign asset reporting rules to include cryptocurrencies. The proposed amendment will affect U.S. citizens that hold crypto assets in offshore accounts or exchanges. The rule will apply to foreign crypto holdings over $10,000 in value. Share this article As per a new proposal by FinCEN, U.S. citizens will have to disclose any cryptocurrencies held in offshore accounts. Overseas Americans on FinCEN’s Radar The Financial Crimes Enforcement Network (FinCEN) under the U.S. Treasury released a notice in which the regulator proposed changing its foreign…

Bitcoin Could Break $30,000 After Climbing Above This Key Level

Bitcoin is inching closer and closer to the coveted $30,000 region, with this long being a target looked upon by investors Because this level has psychological significance, there’s a strong possibility that it will hold as resistance and may be a difficult hurdle for bulls to overcome There is a strong possibility that a clean break above this level could open the gates for the benchmark cryptocurrency to see a continuation of its parabolic uptrend One trader is now noting that BTC could be on the cusp of posting a…

Crypto transactions must be easier. That’s it. That’s the headline

As Bitcoin’s (BTC) price continues to climb ever higher, more and more people are beginning to educate themselves on how they can enter the cryptocurrency market. However, the realities of cryptocurrency ownership (long complicated addresses, passphrases and security risks) all remain barriers to adoption for new users. Programmers and technologists generally assume a level of understanding and ability with tech innovations that the average person on the street simply is not equipped with.  A survey carried out by our team saw 75% of respondents say they found cryptocurrency transactions stressful…