It’s a case of police entrapment that goes beyond the pale. After a ruling Wednesday by the U.S. Third District Court of appeals, a Florida man will have to face a trial by jury over felony charges in Miami for selling bitcoin to undercover police. Felony Charges for a Victimless Crime? “Espinoza’s bitcoins-for-cash business requires him to register as a payment instrument seller and money transmitter” under Florida financial statutes, the court ruled Wednesday, adding that he was “not merely selling his own personal bitcoins, he was marketing a business.” Now he’ll face serious felony charges for money laundering as
By CCN.com: In the last 24 hours, seemingly unaffected by the withdrawal of the Chicago Board Options Exchange (CBOE) and VanEck Bitcoin exchange-traded fund (ETF), the Bitcoin price has remained stable at $ 3,500. Based on the relatively strong performance of major crypto assets, it is likely that many investors generally considered the probability of a
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Was the anonymous trader who “caused a stir” in the U.S. equity options market on Monday with a massive bet–– Doing a Buffett?” Saqib Iqbal Ahmed asks at Reuters Business News, pointing out: ‘The trader sold 19,000 put options on the S&P 500 Index. SPX obligating him or her to buy the market benchmark at
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The bitcoin price will crater below $ 3,000 amid a mass sell-off. That’s what futures trader Anthony Grisanti predicts about the ongoing Crypto Winter. “I’m looking for a move down to $ 3,000, which would represent a real weakness in this market,” Grisanti told CNBC. “It could be the driver that gets people to bail out of this and
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Over the past 24 hours, the cryptocurrency market has seen its valuation drop from $ 135 billion to $ 130 billion, as the Bitcoin price dropped below the $ 3,800 mark. On January 2, the dominant cryptocurrency eyed a breakout above the $ 4,000 resistance level, but it struggled to increase further from $ 3,912, retracing to $ 3,780. Boring Year
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An American bitcoin trader has been arrested in the Philippines for allegedly killing his girlfriend and dumping her body in a river. Well-known bitcoin trader and Californian native Troy Woody Jr. was arrested together with Brooklyn native Mir Islam over the murder of Tomi Michelle Masters, according to the Daily Mail. The two are accused
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Mark Dow, a trader who shorted Bitcoin (BTC) from its all-time high at $ 19,500 to $ 3,500, said that the dominant cryptocurrency could be in trouble if it does not escape the $ 5,000 to $ 6,000 range in the short-term. Dow, who made headlines earlier this month for exiting his short position on Bitcoin, said that the
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A Bitcoin trader from Lanseria in South Africa narrowly escaped death after being drugged, beaten, and tortured by suspected kidnappers. Narrating his near-death experience in a report in local news outlet Soweto Urban, the man, who is known only as Andrew, was invited for a presentation on cryptocurrency through a new contact on Facebook. The
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The U.S. Commodity Futures Trading Commission (CFTC) issued a press release on Friday, November 9, 2018, stating that it had fined Arizona resident Joseph Kim for perpetrating a fraudulent cryptocurrency trading scheme against his former employer and other investors. The same day, a District Court in the Northern District of Illinois sentenced Kim to 15 months on wire fraud charges.
Misappropriating Employer’s Funds
According to the release, Kim had misappropriated his employer’s funds between September and November 2017. Kim, who was employed by a Chicago-based trading firm at the time, had transferred the company’s tokens from the cryptocurrency exchange where they were kept into his wallet address.
During an interview with Ran Neuner on CNBC’s Crypto Trader, Coinbase alum and crypto investment firm 1Confirmation founder Nick Tomaino stated that the valuation of the crypto market can reach a trillion dollars off of speculation alone. He said: “I see investing and speculating as adoption. I think it is possible that crypto gets from … Continued
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On October 3, the price of Tether fell by more than 1 percent, creating a premium on crypto exchanges for traders purchasing major digital assets like Bitcoin with the stablecoin. In an exclusive interview with CCN, respected cryptocurrency trader and analyst Alex Krüger stated that Tether will likely not crash in the short-term, but the … Continued
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Scott Nations, the president and chief investment officer of NationsShares, a division of Fortress Trading, shorted Bitcoin through the Cboe futures market live on CNBC on September 26. Since then, the price of Bitcoin has slightly increased to $ 6,500. “I want to be a seller of the October contract. The Cboe Bitcoin futures, that is
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Jim Iuorio, a veteran futures and options trader who commonly contributes to CNBC’s Futures Now, has recently stated that $ 6,000 is increasingly looking like a pivotal support level for Bitcoin (BTC) moving forward. While speaking with CNBC last Thursday on the floor of the Chicago Mercantile Exchange leading up to the recent close of the CBOE bitcoin […]
In November 2016, a Dutch cryptotrader tried to buy his first 10 bitcoin, first using funds from his ING bank and later from ABN Amro. Both banks denied the transactions. He subsequently filed a complaint with Kifid (Financial Services Complaints Institute), a resource that mediates between consumers and small businesses when there are complaints about financial products or services.
According to the complaint, the banks claimed the man’s transactions were denied due to fraud prevention measures. It argued, however, that fraud prevention isn’t the reason why ING and ABN denied the transactions. Instead, the complainant accused both banks of blocking his accounts for commercial reasons that were concealed as fraud prevention measures. ING and ABN Amro denied the accusation.
Russian intelligence officers accused of meddling in the 2016 presidential elections in the US have used bitcoin to finance their campaign, cover the tracks and obscure their identities, a new federal indictment suggests. You can check the details in today’s edition of Bitcoin in Brief. Also in the daily, billionaire Steven Cohen invests in crypto hedge fund, mysterious expert bets that 1 BTC will cost more than the Berkshire Hathaway’s share in five years, and a leading horse-betting platform now accepts BTC and BCH.
Jim Iuorio, the managing director of TJM Institutional Services believes tougher times await Bitcoin. Speaking to CNBC, Iuorio said Bitcoin was never worth $ 20,000, and the top-ranked cryptocurrency is headed down a slippery slope. Bitcoin is down almost 70 percent from its all-time high of $ 19,500 in mid-December 2017.
Bitcoin was Never Worth $ 20,000
According to Iuorio, Bitcoin was never worth $ 20,000:
There’s no question that it [Bitcoin] was a bubble at [sic] 20 grand.
There is only one question on the mind of cryptocurrency enthusiasts at the moment: Where will Bitcoin go from here? According to one expert trader, the outlook does not look promising this summer.
Cryptocurrency is ‘Vulnerable’
Bitcoin dropped to a new yearly low of roughly $ 5750 before experiencing a rescue bounce of sorts back up to roughly $ 6200. At the time of this writing, Bitcoin is trading at $ 6156 — but Jordan Hiscott, Chief Trader at Ayondo Markets, thinks the worst has yet to come.
Hiscott told Express.co.uk that he expects prices to decline further as the dog days of summer progress, noting:
Goldman Sachs has had its feelers in the cryptocurrency waters for a while. Now, the Wall Street giant looks set to take the plunge, having just hired a cryptocurrency trader to help the company expand into digital asset markets.
High Profile Hire
With Bitcoin looking rather bullish once more, Goldman Sachs is getting serious about cryptocurrency.
Goldman Sachs has hired former trader Justin Schmidt to head the multinational investment bank’s and financial services company’s digital asset markets in Goldman’s securities division, as reported by Tearsheet.
The U.S. government has been cracking down on individuals utilizing the peer-to-peer platform Localbitcoins. This week an Arizona resident named Thomas Costanzo was convicted for money laundering tied to over $ 164,000 worth of cryptocurrency trades.
Two Years Worth of BTC Trades Investigated
The U.S. Attorneys Office from the District of Arizona and the Justice Department has convicted a trader named Thomas Costanzo (AKA Morpheus) who exchanged over $ 164,000 worth of BTC on the Localbitcoins platform. The officials claim the investigation stemmed from over two years of transactions. Last year in April news.Bitcoin.com reported on Costanzo’s home being raided and when he was detained by Homeland Security on April 20, 2017. At the time local media outlets suggested that the charges against Costanzo stemmed from a nationwide cryptocurrency anti-money laundering crackdown by U.S. federal agencies.
A former high-flying JPMorgan trader turned cryptocurrency fund manager says banks “have absolutely failed to innovate in any way, shape, or form and now they’re paying the price” in the cryptocurrency market.
Daniel Masters ran JPMorgan’s energy trading business in the 1990s and now oversees cryptocurrency investment at the firm Global Advisors. In an interview with Business Insider, he called cryptocurrency a “true revolution” that traditional financial institutions are dismissing as a “criminal enterprise, Ponzi scheme and a scam.”
Masters, who started out as an oil trader for Shell in the 1980s, said he became interested in cryptocurrency around five years ago and refocused his firm on digital currencies two years later in 2014.