BitClub Programmer Confesses Role in Mining Pool Ponzi Scheme; Pleads Guilty

BitClub Network's prosecution takes turn as employee pleads guilty

Federal trials have resulted in a programmer of BitClub Network, BCN, pleading guilty to have played a role in building up a multi-million-dollar scam. BCN was in the news during December last year when charged by federal prosecutors for having duped customers to the tune of $722 Million. Silviu Catalin Balaci, a 35-year old employee

Cryptocurrency Firm’s CEO Declared Bankrupt After $13M Bitcoin Scam

Bankrupt After $13M Bitcoin Scam

The Gauteng Division of the High Court of South Africa has declared Willie Breedt, CEO of VaultAge Solutions, bankrupt. Breedt, who traded Bitcoin and cryptocurrencies, allegedly defrauded an estimated 2,000 investors of $13.35 million (227 million South African rands). Now, with the court’s decision, these investors are set to lose their stakes in the company.

P2P Exchanges Becoming Cautious Amid Economic Crises in South America

P2P Exchanges Becoming Cautious Amid Economic Crises

South America is in the news again; this time not due to a virally spreading pandemic, the inflation rates going out of control, the continent’s crime reports, or illegal businesses such as the drug mafia. An entirely new chain of events getting triggered by its hyper-adoption of cryptocurrency is creating new ripples of worries for

Russian Court: The legal status of virtual currency is nil

Russian court turns down the request for Bitcoin theft

An Overview Russian Court is in the news for a recent individual theft, which occurred over 100 Bitcoin. The victim surrendered to the Russian court for assistance. Unfortunately, the court turned the individual down. The reason behind the court’s turning the individual down is his request for a replacement. The court completely blew away the

Binance Charity Contributed Thousands of PPE Kits in COVID-19 Pandemic

Binance Charity Donates Thousands of PPE Kits in COVID-19 Pandemic

As the coronavirus pandemic is still wracking the havoc in the world, the largest Bitcoin and cryptocurrency exchange has decided to support hospitals that are dedicatedly working to help infected patients. Nowadays, most people hesitate to make donations as they cannot track their contributions to know if the help is reaching those in need. Therefore,

Things Looking Less Gloomy for the Facebook CEO With the Newly Gained Support of the U.S Senator

Facebook CEO

Facebook’s Libra Association, with plans to launch the Libra cryptocurrency by the end of 2020, has been under rigorous analysis and extreme skepticism, from the governments and regulatory authorities of various countries around the globe. Regulating authorities of some countries like Germany and France, and the European Nation communicated the desire to block the cryptocurrency

NBA Basketball Team, Sacramento Kings Will Give Rewards in Crypto Tokens

NBA Basketball Team

The famous basketball team Sacramento Kings is involved deeply in the world of blockchain and will provide rewards to their fans in crypto tokens. The team has been working with the cryptocurrency payment processor, BitPay, since 2014. In that year, this basketball team was the first team that started accepting BTC (Bitcoin). Now, the team

ESB’s Director Benoit Coeure: There Are No Plans to Ban Facebook’s Libra

Benoit Coeure

Financial Regulators all over the world have expressed their intentions of not putting an immediate ban on Facebook’s own cryptocurrency, “Libra” and other stablecoins. However, such tokens that are backed by official currencies need to meet certain standards and regulations before they become operative. The director of the European Central Bank, Benoit Coeure said in

Stryking Entertainment and FC Bayern Munich Ink Partnership Pact for Digital Collectibles

Stryking

Stryking Entertainment and popular Germany-based football club FC Bayern Munich have entered into a licensing partnership that will aim to produce and distribute digital collectibles. The digital collectibles will be based on FC Bayern players. The main goal of Stryking is to create a popular platform for blockchain-based digital collectibles that will focus on famous

Russia-based Metal Company Norilsk Nickel Launches Palladium-backed Stablecoin

Norilsk Nickel

A Russia-based metal company is launching a metal-backed token and a clearinghouse for tokenized products. The Russian metals magnate, Norilsk Nickel, or Vladimir Potanin’s Nornickel is launching a palladium-backed stablecoin based on Hyperledger Fabric. They joined Hyperledger (a blockchain consortium led by the Linux Foundation) this summer. And reportedly, the Hyperledger Fabric token was developed