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Money is one of the most important but least understood manmade tools in existence. For more than 5,000 years humans have used a tool of exchange called money to facilitate trade. During this timespan, the evolution of money has evolved into a system of information, a social contract, and a ranking system.
Also Read: IRS Agents Propose Draconian Tactics to Investigate Bitcoin Users
Libra isn’t the only payment system that stands to threaten the banks. Popular stock market and crypto trading app Robinhood is going after legacy banks with the relaunch of a cash management feature. Robinhood COO Gretchen Howard is cited in Fortune as saying: “We’re going to come out with a cash management account soon.” The […]
The post Robinhood App Encroaches on Banking Turf with High-Yield Money Tool appeared first on CCN Markets
Recent research published by Messari revealed that bitcoin (BTC) is not at all the financial threat that some critics claim. Messari said that they performed the research in response to recent remarks by U.S. Treasury Secretary Steven Mnuchin. Data from Chainalysis and the United Nations Office on Drugs and Crime revealed that traditional fiat money […]
The post Fiat Money Outpaces Bitcoin 800:1 for Money Laundering: Report appeared first on CCN Markets
In a new article called “Facebook’s Fake Money,” economist Thorsten Polleit bashes Facebook’s foray into cryptocurrency through its Libra token. Facebook Libra Isn’t Sound Money Far from alone in his criticism of Facebook’s fintech ambitions, Polleit bases his doubts on an entirely different set of metrics than do legislators and regulators. Pointing out that consumers […]
The post Economist Bashes Libra, Mocks Facebook Crypto as ‘Fake Money’ appeared first on CCN Markets
The recent seizure of a cargo ship owned by JP Morgan, a vessel loaded with 20 tons of cocaine according to latest accounts, highlighted the risks of banks’ involvement in illicit activities, inadvertent or otherwise. And although U.S. authorities released the MSC Gayane after the owner, JP Morgan’s asset management arm, and the operator, Mediterranean Shipping Company, paid a $ 50M in cash and surety bond, the stain remains and this is not the only stain. Money laundering for drug cartels and moving funds for terrorists, arms dealers and dictatorial regimes are among the sins banks have accumulated through the years. However, court settlements and billions of dollars in fines often help major financial institutions avoid prosecution, conviction, and labels like ‘Drugbanks.’
In today’s busy world, all of us have some kind of important information that even in this digital era, we keep them on a piece of paper, in a book or sometimes in a safe. This information may include personal, financial, documents, our family and friend’s birthday, important dates in our lives and most importantly […]
The post Put an End to Concerns About Traders’ Money After Their Death appeared first on CCN Markets
Spain’s Guardia Civil (Civil Guard) police unit has indicated that current rules in Europe are inadequate with regards to discouraging the use of Bitcoin ATMs to launder money. According to Bloomberg, this deficiency results from the fact that the owners of the Bitcoin ATMs are not required by the strict AML regulations to vet users […]
The post Multi-Million Bitcoin ATM Scheme Exposes Holes in EU's Money Laundering Net appeared first on CCN Markets
Donald Trump has taken to Twitter yet again, and this time he’s talking about bitcoin and the superiority of the United States dollar. Bashing lack of regulation and potential for criminal activity inherent to crypto, Trump claims the U.S. fiat will always be the strongest currency in the world. As empirical evidence goes, however, it’s USD that’s really in need of moral and economic scrutiny.
Also read: How 10 Countries Respond to Facebook’s Libra Cryptocurrency
At a press conference on Wednesday, the head of the Swedish Central Bank admitted that interest rates could potentially go as low as -1.5%, and quipped that Swedes likely wouldn’t even protest. Other countries implementing negative interest rate policies are producing lukewarm results that don’t address the root causes of currency devaluation. Nor do they change the bleak overall trajectory of fiat financial systems across the globe.
Also read: Bitcoin’s Survival Depends on an Uncensorable Internet
Authorities at the Pasco County jail in Florida recently caught inmates in an elaborate money laundering scheme involving Bitcoin and the dark web. Florida Inmates Find The Best Money Laundering Counterparty: The Government The scheme reportedly involved buying stolen credit card information on the dark web with Bitcoin. Then, using the stolen cards to fund […]
The post Florida Inmates Used Bitcoin to Bankroll Crazy Money Laundering Scheme appeared first on CCN Markets
In this day and age, carrying your wallet, passport and mobile phone inside the inner pocket of your jacket is simply not enough to protect your assets. Thankfully, there’s a company called Tarriss which offers products designed to secure both your digital cash and personal data. It sells them for cryptocurrency and it takes bitcoin cash.
Also read: Namecheap Lets You Buy a Domain and Host Your Website With Bitcoin Cash
Nowadays your electronic money and your digital identity are exposed to various invisible risks. You can be robbed, tracked and hacked remotely. Wireless technologies can provide third parties with unwarranted access to your most precious data.
SpaceX founder Elon Musk loves to talk about going to space. Fellow starstruck billionaire Sir Richard Branson plans to actually travel there. Next month. He’ll ride aboard one of his own Virgin Galactic rocket ships. The Daily Beast reports Branson’s virgin space flight will coincide with the 50th anniversary of the Apollo 11 Moon landing. […]
The post Billionaire Richard Branson Puts His Money Where Elon Musk's Mouth Is appeared first on CCN Markets
The bitcoin price roared to a new 2019 high in the early hours of Wednesday, briefly touching $ 13,000 on the Huobi exchange. Bitcoin is now at levels not seen since January 2018 with a market capitalization of $ 224.7 billion. But where is the money coming from? Data from CoinLib reveals that BTC’s latest rally is […]
The post Parabolic Bitcoin Price Smashes $ 13,000: The Money Behind Bitcoin's 'Explosive' Run appeared first on CCN Markets
By CCN Markets: International man of mystery, wanted fugitive, 2020 presidential candidate. What do all of these have in common? John McAfee. In an exclusive interview, CCN talked to McAfee about his new trading portal ‘McAfee Magic,’ his views on money, and his troubles with the government. Here’s everything he had to say: Magic Arbitrage Trading Platform As CCN reported previously, McAfee’s new magic trading platform went live earlier this month. But we haven’t talked much about the debit cards associated with it yet. We know that the cards will require very little KYC, they’ll have a QR code on
Staking is getting attention for all the wrong reasons, and it’s time to re-examine its role, argues Decred’s Jake Yocom-Piatt.
CoinDesk
By CCN Markets: Shaquille O’Neal has proven himself to be a savvy businessman following his retirement from the NBA. Having already made a bundle in restaurants, gyms, his own branded products, and licensing deals, now he’s reportedly looking to make a big splash in a dead name – Reebok. The former NBA superstar O’Neal has a soft spot for the old shoemaker, having made a licensing deal with Reebok more than 25 years ago. Now, he says, Adidas has abandoned the brand and he wants to rescue it. It’s a terrible idea for three primary reasons. Reason No. 1: Competition
By CCN Markets: Dow Jones futures rose on Tuesday, but money managers on Wall Street aren’t convinced the stock market rally has longevity. Billion-dollar investors are pulling money out of stocks and piling into cash, according to a survey by Bank of America Merrill Lynch. The investors, who manage $ 528 billion between them, are also cycling into defensive investments and treasury bonds. It’s a sure sign that investors are building defensive portfolios in the face of trade war fears and weak economic data. Dow creeps higher on hopes of Federal Reserve rate cut As of 6.44 am ET Tuesday, Dow
By CCN Markets: Houston Texans star defensive end JJ Watt had an interesting proposition for fans of the fast-food chain Whataburger: chip in and buy it back. The three-time NFL Defensive Player of the Year took to Twitter following the majority stake sale of Whataburger to a Chicago investment firm, calling upon fans to do their part in purchasing the company back. Fans Upset After Whataburger Purchased by Chicago Firm Whataburger is based out of San Antonio but operates more than 800 restaurants across the Southeastern and Southwestern U.S. The restaurant has developed a cult following and fanatic fanbase for
By CCN Markets: Every skeptic says the same thing: the bitcoin price is too volatile to be a real currency. And they’ve got a point. Bitcoin’s huge swings make it risky as an investment and difficult as a day-to-day payment method. But it’s slowly changing. As more money flows into bitcoin, it’s becoming less volatile. And that means it’s becoming better money. As you can see, the graph shows extreme daily price movements are much less common in 2018 and 2019. BTC is growing more stable. Bitcoin price swings are “less extreme” As developer Fernando Nieto, who created the graph,
U.S. citizen Morgan Rockcoons has been sentenced to fines and prison time for running unlicensed money exchange services on LocalBitcoins.
Advertising himself on the peer-to-peer bitcoin trading network, Rockcoons made more than 1,000 transactions with hundreds of different users. The U.S. Department of Justice (DoJ) pursued him on charges of not registering his business with the Financial Crimes Enforcement Network (FinCEN).
Rockcoons’ sentencing marks the end of a somewhat protracted legal battle, following his arrest in February 2018. Rockcoons attempted to sell 10 BTC to an undercover law enforcement officer for $ 14,500 in cash after the officer explicitly told him that the money was acquired through the production and sale of controlled substances.
