OneCoin Scam Update: Bank of Ireland Officials Set to Appear in US Court

Officials of the Bank of Ireland (BOI) are set to testify against a principal actor in the alleged OneCoin crypto Ponzi scam before a U.S. court. BOI Employees to Point the Finger at OneCoin Principal Actor According to FinanceFeeds, four past and present employees of the BOI will serve as witnesses for the U.S. government in its case against Mark Scott. Together with Konstantin Ignatov and Ruja Ignatov, Scott stands accused of money laundering in the OneCoin Ponzi scheme. Diane Sands — one of the four witnesses, is the anti-money…

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Revolut Seeks 3,500 Staff in Push for VISA Partnership Expansion

The Revolut fintech app is on an expansion drive, adding 3,500 people to its staff in a bid to outcompete VISA. The challenger bank is also a crypto-friendly app allowing exchanges to a wider audience. Revolut Expands to US, Brazil, Japan in 2020 Revolut expands to both developed and developing markets, recently upping its social media campaign efforts to add new customers. “We are around 1500 people now and by summer next year we plan to be around 5000,” said Nikolay Storonsky, co-founder of Revolut. The payment app plans to…

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If You’d Bought $10k of Bitcoin 10 Years Ago It Would Be Worth $26Bn

Ben Askren is an American Olympic wrestler who’s also a professional martial artist. Rather more interestingly, he’s a well-known Bitcoin bull. And on Sep 28, he ran a poll on Twitter posing an interesting question. The Ben Askren Twitter Poll Askren asked his followers if they were given $10,000 that they weren’t allowed to touch for 10 years, what form would they rather receive it in? Bitcoin, gold, or U.S. Treasury bond? Someone gives you a $10,000 that you can’t touch for 10 years, would you rather have the 10k…

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Massive Layoffs: Banks Cutting Nearly 60,000 Jobs Worldwide

Banks are laying off workers across the globe as revenue declines throughout the sector. According to reports, banks have announced nearly 60,000 job cuts so far this year, with most of the layoffs happening in Europe, especially in Germany. Also read: Panic at 137 Bank Branches as RBI Limits Withdrawals to ₹1,000 Almost 60,000 Job Cuts Bank employees are being laid off worldwide. Negative interest rates, political uncertainty and threats of trade wars on a global level have all played their part in eroding banks’ balance sheets, along with interest…

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$350 Million Bithumb Acquisition Deal Not Happening

The acquisition of South Korean bitcoin exchange Bithumb by BK Consortium has been scrapped. Bithumb Sale Hits Rocks Over Missed Payment Deadlines South Korean media outlet Hanguk Kyungjae says the proposed acquisition of Bithumb by BK Consortium may no longer go through. Reports indicate that the Singaporean entity led by a plastic surgeon and crypto investor Kim Byung-gun failed to honor agreed-upon payment schedules. Back in October 2018, Bitcoinist reported that BK Consortium was looking to acquire a controlling stake in the bitcoin exchange. At the time, BK planned to…

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IRS Releases ‘Tax Cheat’ Info Raising Concerns About Crypto Theft

The U.S. Internal Revenue Service (IRS) released a new report and infographic on Thursday illustrating unpaid or underpaid taxes for the years 2011 – 2013. The numbers reflect estimates based on the last such findings, for the years 2008 – 2010. With commissioner Chuck Rettig citing the importance of voluntary compliance, and crypto’s popularity on the rise, the IRS is growing increasingly concerned with opportunities for tax evasion afforded by the new digital money. Also Read: Bitcoin Is a Viable Way to Remove the State From Your Life Voluntary Compliance…

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Bakkt Raked in Only $5.8 Million BTC Trading Volume in First Week

The highly anticipated launch of Bakkt’s physically-backed bitcoin futures has been disappointing, to say the least, posting only $5.8M of BTC trading volume in the first week. Many people in the community saw Bakkt as the catalyst to get institutional investors to enter the market. But so far, it doesn’t seem like institutions are interested. Low Trading Volume in the First Week Bakkt has been one of the most hyped projects in the bitcoin community. It has one major difference versus the other futures offerings that are already live; the…

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Bugs Discovered in Bitcoin Lightning Network Implementations, Fixed

Blockstream core engineer Rusty Russell discovered critical Bitcoin Lightning Network bugs that were affecting C-Lightning, Éclair, and Lightning Network Daemon (lnd) implementations. Early LN Versions Failed to Check Funding Transaction Amounts Presently, three autonomous teams are working on the Lightning Network implementations: Blockstream, ACINQ, and Lightning Labs. The main objective of these teams, among other things, is to reduce transaction costs while enhancing the scalability and security of the Bitcoin network. ICYMI: Here are all the details of the recent Lightning bug. https://t.co/NVzKmGW5I6 — TheRustyTwit (@rusty_twit) September 27, 2019 The…

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Catching Up With The Bitcoin Family’s ‘Sharing Is Caring’ Tour

Do you ever wonder what happened to that Dutch family who sold all its possessions for bitcoin two years ago? Spanish language website, DiarioBitcoin recently caught up with the ‘Bitcoin Family’ for an interview. And the first big change would seem to be the family’s nationality… to German. You Say Potato, We Say Bitcoin Easy mistake-a to make-a, you might say; after all, Dutch sounds very like Deutsch. Although, not in Spanish, where it is Holandesa and Alemana… But never mind that. In September 2017 Didi Taihuttu and his (Dutch) family…

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Bitcoin Is a Viable Way to Remove the State From Your Life

The last decade has seen central banks print trillions of dollars, governments grown much larger, wars continue with no end, and ordinary citizens taxed even more. Thankfully there are individuals and small pockets of people all around the world who believe something is wrong. Many of these people have a plan to help end the illegitimacy of the nation states. Whether it be through protests, unschooling, and spreading stateless education, there are various methods available in this day and age. Bitcoin and the cryptoconomy are also great forms of protest,…

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