CFTC Cannot Locate Man Responsible for Over $140 Million Crypto Ponzi

The United States Commodity Futures Trading Commission (CFTC) is having trouble locating Benjamin Reynolds, who is allegedly responsible for a cryptocurrency Ponzi scheme worth over $140 million. Financial news outlet FinanceFeeds reported on Jan. 6 that the CFTC has filed a motion with the New York Southern District Court. More precisely, the regulator filed for the service of process on Reynolds by publication on The Daily Telegraph and extending for sixty days the time limit by which the service must be effected on him and his firm. A major Bitcoin…

Major Spanish Bank Latest to Bring Blockchain Into European Finance

On Jan. 3 Spain-based CaixaBank added the blockchain-powered finance platform We.trade to its list of services. CaixaBank has now become one of the first banks in Europe to provide its customers access to blockchain technology. Launched in 2017, We.trade is a finance platform powered by IBM’s blockchain technology. It was developed by a consortium of 15 financial institutions from around Europe, like UBS and Societe Generale, and it works to provide businesses with a digital, trustless platform for verifying financial information. We.trade’s open API architecture lets it track and trace goods shipped…

Bitcoin Scam Ads Featuring Martin Lewis Now Spotted on Instagram

Bitcoin (BTC) scam ads featuring the likeness of Martin Lewis have continued to appear on social media despite Lewis’ previous efforts to prevent such illegal practices. After the British financial expert settled a defamation lawsuit against Facebook for showing unendorsed fake Lewis crypto ads in 2019, new scam adverts have now been spotted on Facebook-owned Instagram. Reported by Twitter user @peterfinn5252 on Jan. 7, the scam Instagram ad shows Lewis’ face to promote a fake article pretending to be published by major British national daily tabloid The Mirror.  The fake…

SBI, GMO Reportedly Sign Deal with Operator of World’s Largest Bitcoin Mining Site

The operator of what is set to become the world’s largest Bitcoin (BTC) mining facility has reportedly signed a deal with Japanese financial services giant SBI and internet provider GMO. A Jan. 7 BNN Bloomberg report claims that the two Japanese mega-firms have agreed in principle to process cryptocurrency transactions at a new mining facility — of unprecedented scale — now being developed in Rockdale, Texas. The facility will be operated by Whinstone Inc., a subsidiary of the Frankfurt-based Northern Bitcoin AG. Whinstone — which has been operating since 2014…

Court Denies SEC Request to Make Telegram Reveal ICO Bank Records

The District Court for the Southern District of New York has denied a request by the United States’ securities regulator to make Telegram reveal its bank records. According to a Jan. 6 court order signed by Judge P. Kevin Caste, the court has denied an application by the U.S. Securities and Exchange Commission (SEC) to “compel the production of defendant’s bank records.”  Telegram must prove that its bank records comply with data privacy laws The new court decision refers to a Jan. 2 application by the SEC to compel Telegram…

Litecoin ‘Largest Miner Capitulation’ Great News for Bitcoin — Analyst

Bitcoin (BTC) could have its bull market induced by Litecoin (LTC) as the latter enters a bullish renaissance, noted statistician Willy Woo has forecast. In a series of tweets on Jan. 6, Woo, well known in crypto circles as the creator of data resource Woobull, highlighted an upturn in Litecoin’s fortunes in recent weeks. Woo: Litecoin difficulty “in recovery” Specifically, it is the altcoin’s mining difficulty that has begun rising once more after more than six months of decline. The difficulty is a measure of how much computing effort is…

Messenger Giant Line’s Crypto Exchange to Delist XRP This Month

BitBox, the Singapore-based cryptocurrency exchange operated by internet messaging giant Line, announced that it will delist XRP on Jan. 16. Cointelegraph Japan reported BitBox’s decision earlier today. The announcement published on the exchange’s website on Jan. 6 read: “We keep a constant watch on all coins that are being traded on BITBOX. If a coin does not meet our standards based on its performance, reliability, liquidity, or law and regulatory requirements, it will be delisted from our exchange. To protect your assets and interests, we provide sufficient notice before delisting.”…

Bitcoin Flashes Wyckoff ‘Sign of Strength’ Hinting at New Bull Market

Bitcoin (BTC) may have just signaled its return to a bull market, according to fresh analysis using a century-old price prediction method. In a tweet on Jan. 7, ex-Goldman Sachs analyst Murad Mahmudov channeled the work of Richard Wyckoff to suggest Bitcoin was in the process of a major recovery.  BTC puts in Wyckoff “SOS” BTC/USD cracked resistance at $7,600 on Monday, surprising punters who considered the levels too difficult to pass under current conditions. At press time, the pair traded at $7,875, having reached $7,980 and gaining 5% on…

Major South Korean Crypto Exchange Bithumb Launches R&D Center

South Korean cryptocurrency exchange Bithumb has established its own research and development (R&D) center. According to an announcement on Jan. 6, the initiative makes Bithumb the first company with a blockchain and cryptocurrency research center in South Korea. Bithumb expressed high hopes for the research center’s impact on the company: “Bithumb will become a leading company in the blockchain and cryptocurrency ecosystem by strengthening its own R&D capabilities.” The center’s purpose The new R&D center is going to employ around 30 people and will start its activities this month. Bithumb’s…

Law Enforcement Requests to Kraken Hit All-Time-High, Up 49% in 2019

Law enforcement requests to cryptocurrency exchange Kraken hit their highest ever volume in 2019, rising 49% to 710 as compared with 475 the previous year. The data was revealed in a tweet from the exchange on Jan. 6, which included a snapshot taken from the new 2019 Transparency Report from Kraken’s compliance team. Screenshot, 2019 Global Law Enforcement Requests. Source: @krakenfx American, British and Danish agencies the most proactive As the snapshot reveals, Kraken received a total of 710 information requests from global law enforcement agencies in 2019, marking a…