Bitcoin 

CabbageTech Crypto Scheme Operator Pleads Guilty to Wire Fraud

46-year-old New York resident Patrick McDonnell admitted to stealing funds obtained from his clients instead of investing them in cryptocurrency, Bloomberg reports on June 21. Per the report, McDonnell — who calls himself the “coyote of Wall Street” — pleaded guilty to wire fraud on Friday in federal court in Brooklyn. He allegedly declared: “I claimed to invest it in virtual currency and spent it on personal expenses.” McDonnell attracted investors to his firm CabbageTech by claiming on social media to have traded over $50 million worth of bitcoin (BTC)…

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Bitcoin 

BitMEX Operator Firm Donates to MIT to Conduct Crypto, Bitcoin-Related Research

The owner and operator of cryptocurrency exchange BitMEX has donated to the Massachusetts Institute of Technology (MIT) to conduct cryptocurrency-related research, according to an announcement published on May 28. HDR Global Trading Limited has made a donation to the MIT Digital Currency Initiative (DCI), the objective of which is to conduct the research necessary to support the development of digital currency and blockchain technology. Specifically, the funds will be allocated to support Bitcoin Core developers Wladimir van der Laan and Cory Fields. Commenting on the sponsorship, Sam Reed, CTO of…

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Bitcoin 

Bithumb Exchange Operator Reveals Plans for US, Japanese Markets

The CEO of Singapore-based Blockchain Exchange Alliance (BXA) — which has a controlling stake in major South Korean crypto exchange Bithumb — has revealed plans to expand to the American and Japanese markets. The news was reported by Cointelegraph Japan on April 18. BXA CEO BK Kim told Cointelegraph Japan in an interview that BXA’s strategy is to pursue a so-called reverse merger route by acquiring a publicly-traded company that is already listed on either Nasdaq or the New York Stock Exchange (NYSE). The route can be a faster way…

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Bitcoin 

Bithumb Exchange Operator Gains $200 Million From Japanese Investment Fund

The parent company of major South Korean cryptocurrency exchange Bithumb has received $200 million in funding from Japan’s ST Blockchain Fund, the latter confirmed in a press release shared with Cointelegraph Japan on April 15. The cash, which forms part of a Series A funding round, will allow Blockchain Exchange Alliance (BXA) to expand the international side of Bithumb, which is already one of South Korea’s largest exchanges. New trading pairs will also appear, the press release notes. ST Blockchain Fund is based in Japan, but features participation from investors…

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