BitClave Seems Unlikely to Ever Pay $29 Million Settlement

A company once heralded as a “decentralized alternative” to Google recently settled with the SEC. BitClave suffered a near-immediate collapse in price The project’s token price collapsed almost immediately upon change listing and never recovered. Seemingly the dream of a “decentralized” Google never materialized. The company’s website does not have a link to a GitHub repository. CAT Token Price, Volume & Market Capitalization. Source. Coin360. The company was headquartered in San Jose, California, which may have increased its vulnerability to regulator enforcement. Considering that its market capitalization has collapsed and…

SEC Orders BitClave to Pay Its ICO Investors $25 Million

The blockchain search project has been shut down by the SEC and forced to pay investors $25 million. Key Takeaways BitClave has been designated an unregistered security and fined more than $25 million. Though not officially dead, BitClave has been inactive for months. Several other crypto projects have also been penalized by the SEC. Share this article BitClave, a 2017 ICO, has been ordered to pay back the proceeds from its token sale by the Securities and Exchange Commission. The project will pay back more than $25 million to 95,000…

NYC Hacker Charged Over $94 Million Bitcoin-for-Cards Scheme

New York City resident Vitalii Antonenko was charged for allegedly participating in a $94 million Bitcoins-for-cards scheme, according to a May 27 statement from the United States Attorney’s Office for the District of Massachusetts. He is now facing up to 20 years in jail and $500,000 in fines. Antonenko was arrested in March 2019 at New York’s John F. Kennedy International Airport after he arrived there from Ukraine carrying devices “that held hundreds of thousands of stolen payment card numbers”.  According to the prosecution, the suspect and his co-conspirators used…

CoinDCX Raises $2.5 Million, Furthering Bitcoin Growth in India

Indian cryptocurrency exchange, CoinDCX, has locked in another $2.5 million investment from premier venture capital funds. The exchange sees this as a vital step in bolstering Bitcoin penetration to the untapped market in India. Bitcoin Penetration in India A recent Supreme Court verdict quashed the Indian central bank’s ban on firms and individuals dealing with cryptocurrency. This change in law has revived the Indian crypto landscape, which previously used peer-to-peer transfers to bypass the restrictions. WazirX, a competing Indian exchange, was acquired by Binance in December 2019 as the latter…

Switzerland Denies $103 Million of COVID-19 Relief for Crypto Valley

The Swiss government has denied a 100 million franc request by the Canton of Zug for use in keeping local crypto companies afloat, according to local newspaper Tages-Anzeiger. Zug’s finance director Heinz Taennler initiated support for the financial package earlier in April to support local blockchain companies affected by the COVID-19 pandemic, but the answer he’s getting isn’t the one he wanted. The Crypto Valley bailout was reportedly the only one out of “around two dozen” COVID-related applications to be rejected by the federal government. Local crypto firms will have…

Nearly $20 Million of BitMEX Longs Liquidated As Bitcoin Tumbles Below $8,800

Since NewsBTC’s last market update, the Bitcoin market has continued to flash signs of weakness. After managing to temporarily reclaim $9,000, the cryptocurrency started to plunge just minutes ago, falling as low as $8,675 — 4% lower than where BTC started the day and about 15% below the May highs. Bitcoin price chart from TradingView.com This latest leg lower has resulted in a liquidation event on margin-enabled exchanges, with this rapid drop catching most traders off guard. According to Skew.com — a website tracking crypto derivatives — just shy of…

Grayscale Accumulates 34% of New BTC as Weekly Investments Tag $30 Million

Grayscale Investments, a crypto investment fund manager and subsidiary of Barry Silbert’s Digital Currency Group, is estimated to have purchased up to one-third of all newly minted Bitcoin during the past three months amid the run-up to the block reward halving. The announcement comes as average weekly investments into Grayscale’s Bitcoin Investment Trust, or BIT, reached $29.9 million over the first quarter of 2020. In response to a tweet publicizing the figures, Grayscale founder Barry Silbert stated: “just wait until you see Q2.” The average weekly investment into the trust…

Got 10 BTC? You’re Now in the Top 0.5% of 30 Million Bitcoin Addresses

Bitcoin (BTC) wallets with a positive address have crossed 30 million for the first time — but less than 1% contain even 10 BTC. According to the latest data from monitoring resource Bitinfocharts, a wallet balance of 10 BTC — or around $91,000 at today’s prices —  is enough to place the holder in the top 0.51% of addresses. 97.3% of Bitcoin wallets hold under 1 BTC Balances of 10-100 BTC make up 0.45% of the total, while even wallets between 1-10 BTC contribute just 2.17%. While it should be…

Bitcoin Pizza Day’s 10th Year, Celebrating the $90 Million Lunch

Today marks the advent of the world’s first Bitcoin purchase: two Papa John’s pizzas. Key Takeaways Laszlo Hanyecz purchased two pizzas with Bitcoin in May 2010 for 10,000 BTC, worth over $90 million today. The event commemorates Bitcoin’s growing utility and past price surges. Ten years later, Bitcoiners still participate in the tradition by following in Hanyecz’s footsteps and ordering their own pizzas. Share this article On May 22, 2010, Laszlo Hanyecz made the world’s first Bitcoin purchase: two pizzas from Papa John’s. Today, the Bitcoins from that order are…

$40 Million in BitMEX Longs Wiped Out as Bitcoin Plunges on “Satoshi Dumping” Fears

It’s been a brutal past 120 minutes for the Bitcoin market. After holding the $9,800 support for 48 hours, the cryptocurrency began to dive lower approximately two hours ago. From its $9,800 perch, the flagship crypto-asset fell as low as $9,100 on leading Bitcoin exchange Bitstamp — a drop of over 7%. The price has since stabilized around $9,400. Chart from TradingView.com This was a crash that few traders anticipated. According to data shared by crypto derivatives tracker Skew.com, over $40 million worth of BitMEX long positions were liquidated during…