Bitcoin 

U.S. Federal Judge Rules in Favor Bitcoin IRA in Case Against Kingdom Trust

A United States federal judge has ordered asset custodian Kingdom Trust to fully restore data access to all affected clients following the unilateral termination of customers’ access to their own account information on Bitcoin IRA’s website. Filed on Nov. 12, a court document reveals that South Dakota District Court Federal Judge Karen E. Schreier ruled in favor of Bitcoin IRA in the case against Kingdom Trust, where the latter allegedly breached a referral agreement by terminating customers’ access to their account data on Bitcoin IRA’s platform without providing prior notice.…

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Bitcoin 

Craig Wright Says He Has No Funds for Settlement in Kleiman Case

The latest court documents in the David Kleinman versus Craig Wright case filed on Nov. 1 reveal that Wright — the self-proclaimed Bitcoin (BTC) creator Satoshi Nakamoto — informed the plaintiff that he could not finance a 500,000 BTC ($4.5 billion) settlement. Given that the case was apparently reaching a resolution with the agreement, the plaintiff stopped active litigation and focused on settlement, joining Wright’s requests to extend the deadline into late October. Then Wright allegedly broke the settlement agreement: “On October 30, without any advance notice, Plaintiffs were informed…

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Bitcoin 

Proof-of-Work Doesn’t Solve Every Blockchain Use Case

The Bitcoin white paper was published 11 years ago today, on Oct. 31, 2008, meaning that Bitcoin (BTC) is celebrating its 11th year of existence. From its humble beginnings to over a $300 billion market capitalization in 2017, the success of Bitcoin is truly a remarkable accomplishment.  What is Bitcoin? A question with many answers. Digital gold, magic internet money, a hedge against macro risk, tulip mania? One thing is for certain, Bitcoin found a product–market fit as a new form of money owned by the people. The Bitcoin brand…

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Ethereum 

The Curious Case of AT&T, Seth Shapiro’s SIM Card and a Stolen $1.8M

Over the past week, the global crypto community bore witness to a unique case wherein California resident and blockchain entrepreneur Seth Shapiro filed a lawsuit against American telecom giant AT&T — alleging that a couple of the firm’s employees had perpetrated a nefarious SIM-swap scheme that resulted in the former losing $1.8 million in various crypto assets. Shapiro, who is a two-time Emmy Award-winner, as well as an author and adjunct professor at the University of Southern California School of Cinematic Arts, filed the aforementioned lawsuit against AT&T on Oct.…

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Bitcoin 

Lebanon Banks’ Shutdown Is ‘Most Potent Case’ for Crypto: Nassim Taleb

Bitcoin (BTC) proponents are encouraging Lebanese citizens to swap fiat for crypto after it emerged the country’s banks would stay closed. Banks to open “once normalcy restored” In an ongoing Twitter debate which began on Oct. 24, commentators vented anger on behalf of Lebanon’s population, which has been without banking services for more than a week.  Following civil unrest, banks everywhere closed their doors. Six working days later, a senior banking executive said the status quo would continue until conditions improved. “Once normalcy is restored, we are very confident that…

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Bitcoin 

Craig Wright Must Forfeit 50% of Bitcoin in Court Case

The protracted legal battle involving self-proclaimed Bitcoin (BTC) inventor Craig Wright and the estate of computer scientist David Kleiman could go in Keiman’s favor. According to a court audience member on Aug. 26, Judge Bruce Reinhart rejected Wright’s testimony, stating that he had perjured himself by providing the court with falsified documents and recommended that he hand over 50% of the over 1 million bitcoins Kleiman mined with Wright as well as intellectual property rights associated with Bitcoin’s software. The case began in February 2018 when lawyers filed the case…

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Cryptocurrency 

BTC-e’s Vinnik Case Drags on as New Accusations Continue Emerging

On July 25, 2019, United States prosecutors filed a complaint against the defunct cryptocurrency exchange BTC-e and its alleged former operator, Alexander Vinnik. The indictment was filed nearly 24 months after Vinnik was arrested in Greece while on holiday with his family and has followed numerous extradition requests from the U.S., France and Russia that have seen Vinnik’s case appear to morph from an investigation into alleged money laundering to a tug-of-war over a strategic intelligence asset between the U.S. and Russia. Vinnik’s arrest in July 2017 On July 26,…

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Bitcoin 

Grayscale Argues BTC Hedges, With US-China Trade War As Case Study

Grayscale Investments, a digital assets investment firm that offers Bitcoin (BTC) trust shares, has published a case study on how BTC could be used as a hedge against financial instability. The firm used the case of trade tensions between the United States and China to make their point. Grayscale Investments linked to its study in an official blog post on Aug. 8. According to Grayscale’s analysis, they believe that BTC’s store of value potential, its spending characteristics and its potential for growth with new technology poise the original cryptocurrency as…

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