Japanese Broker Monex Launches Crypto-Based CFDs With 2x Leverage

The Japanese online securities company Monex has revealed the launch of cryptocurrency-based contract-for-difference (CFD) services that went live on Wednesday. The new derivatives products offered by Monex will include bitcoin, XRP, ether, and bitcoin cash pairs with 2x leverage. Japanese digital currency exchanges are getting into leverage products as the firm Monex has revealed a derivatives product otherwise known as a contract-for-difference (CFD) service. Basically a CFD acts as the net difference depiction of either losses or gains that stem from the trading of specific assets. CFDs are popular investment…

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Bitfinex Must Face New York’s Accusations Over the Loss of $850M in Co-Mingled Funds

The popular digital currency trading platform, Bitfinex must deal with the New York Office of the Attorney General (NYAG) over the alleged hiding of over $800 million in client and corporate funds. The NY state Supreme Court’s Appellate Division overruled an appeal on Thursday, after the company put forth the argument that tether (USDT) was not a security or traditional commodity. Last year in April, New York prosecutors alleged that Bitfinex lost $850 million of co-mingled customer and corporate funds. The charges stemmed from accusations coming from the NYAG and…

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Bitcoin Bull Mike Novogratz Says to Hold More Gold Than Bitcoin

The billionaire investor Michael Novogratz recently detailed in an interview that he thinks global investors should hold more gold in their portfolios and own less bitcoin. Novogratz’s statements follow his recent advice last month when he said investors should “watch gold and bitcoin.” Michael Novogratz is a well known investor and was a hedge fund manager at the investment firm Fortress Investment Group for years. Now Novogratz is a big believer in digital currencies and in 2017 he told the press that 20% of his net worth was in bitcoin…

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Romanian Programmer Admits Conspiring to Create $722M Bitclub Ponzi Scheme

A Romanian man admitted Thursday to conspiring to engage in wire fraud and selling unregistered securities linked to Bitclub Network, a cryptocurrency mining Ponzi scheme worth at least $722 million. Silviu Catalin Balaci, 35, a Romanian citizen appeared before U.S. District Judge Claire C. Cecchi. Balaci pleaded guilty to a superseding information charging him with one count of a dual-object conspiracy to commit wire fraud and to offer and sell unregistered securities. The Romanian was arrested in Germany and the court proceedings against him were conducted via video conferencing. He…

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Malaysian Shariah Council Permits Cryptocurrency Investing and Trading

The Shariah Advisory Council of Malaysia’s securities commission has advised that it is permissible to invest and trade cryptocurrencies on registered crypto exchanges. About 60% of the country’s population are Muslims who have been reluctant to trade crypto in fear that it might not be Sharia-compliant. Shariah-Compliant Crypto Trading The Shariah Advisory Council of the Securities Commission Malaysia (SC) reportedly revealed its position on cryptocurrency trading in the country at the Invest Malaysia 2020 event this week. SC chairman Datuk Syed Zaid Albar was quoted by the Edge Markets as…

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Fueling the Cannabis Industry: US Crypto Lending Service Files for Regulated Token Sale

Chicago-based lending firm Ceres recently filed for a request to conduct a Reg. A sale in order to get approval from the U.S. Securities and Exchange Commission (SEC). Ceres wants to launch a token that will be used for garnering equity, while the company also wants to launch a coin that can be used to lend to cannabis startups in need of funding. Cryptocurrencies and cannabis culture go hand in hand in the eyes of many, and the company Ceres seems to be a firm believer of this theory. On…

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