US Court Sentences ICO Fraudster to 6 Months in Jail: Orders the Accused to Pay Over $4 Million in Restitution

A U.S. court has sentenced Jerry Ji Guo, a resident of San Francisco, to an effective six months in prison for his role in a fraudulent initial coin offering (ICO). In addition to the prison term, the court ordered Guo to pay over $4 million in restitution. Further, Guo will also cooperate with the government in the identification and return of the stolen property. Embezzlement of Client Funds In a statement, the United States Department of Justice (DOJ) says Guo, who pleaded guilty on August 26, 2019, had presented himself…

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Blockchain Platform to Set up a Tokenization Solution for Argentinean Farmers as Peso Keeps Plummeting

With Argentineans facing rising inflation to near 40%, solutions appear to contain the impact on national farmers. A business blockchain platform is partnering with a peer-to-peer (P2P) marketplace to launch a program to tokenize Argentina’s agriculture. More Than 40% of the World’s Soybean Oil and Soy-Meal Production Comes From Argentina According to an announcement shared with news.Bitcoin.com, Coreledger will work with Abakus to set up a “digital barter economy” in Argentina. The project consists of enabling farmers to tokenize their agricultural assets to seek a hedge against rising inflation. It…

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Report: Bitcoin Bull Run and Rising Awareness of Digital Currencies Led to a 20% Increase in Crypto Related Lawsuits in China

A report from China says as many as 872 lawsuits relating to cryptocurrencies were filed in the past year, a figure which is approximately 20% more than that of 2019. Using data obtained from the China Judgment Document Network (CJDN), the report shows that the province of Guangdong had the highest number with 106. Completing the top three provinces with the highest number of lawsuits is Zhejiang with 103 and Sichuan with 54. The Case of a Bitcoin Bull Market and Rising Lawsuits In terms of the nature of the…

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Skybridge Capital Cofounder Says Gamestop Activity Is ‘More Proof That Bitcoin Will Work’

The New York-based Skybridge Capital cofounder, Anthony Scaramucci, recently explained that this week’s Gamestop fiasco is positive for the global cryptocurrency bitcoin. Scaramucci’s statements follow the global investment manager’s recent dive into the crypto economy by gathering exposure to over $300 million worth of the cryptocurrency. Skybridge Capital Cofounder Says Gamestop Stock Activity Bolsters the Concept of Bitcoin The recent Gamestop stock saga has shown the world the power of social media and financial technology combined. Meme lords, Redditors, Discord users, Twitter heads, 4chan trolls, and a number of other…

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Bitcoin Inflows in Past 30 Days Exceed BTC’s Total Market Cap in 2017 and 2019, Says Report

The total amount of capital inflows into bitcoin during the 30 days to Jan. 25 are as high as the entire bitcoin market capitalization in September 2017 and early 2019, according to new data from Glassnode. Glassnode co-founder and CTO Rafael Schultze-Kraft tweeted that cash inflows into bitcoin (BTC), as estimated by the realized cap, reached $70 billion during the calendar month in review, equalling the whole BTC market cap value for September four years ago and early 2019. In 2017, bitcoin prices rose sharply within a space of just…

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Network-Attached Storage (NAS) Devices Infected by Bitcoin-Mining Malware

A Taiwanese hardware company has warned its clients about a targeted crypto mining attack against their storage devices. The malware infects NAS devices connected to the internet by installing a crypto-miner named Dovecat. Threat Actors Install Malware That Illicitly Mines Bitcoin According to the advisory revealed by Bleeping Computer, the malware mines bitcoin (BTC) on NAS devices without alerting its operators. The company elaborates on the findings: QNAP NAS can become infected when they are connected to the Internet with weak user passwords. The malware campaign launched by unknown threat…

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Crypto User Builds a Mining Rig in the Back of His BMW Hybrid Car With Six Graphic Cards

A U.S. cryptocurrency miner installed a mining rig in a particular place with the motivation to “annoy gamers.” Simon Byrne installed the full infrastructure in the back of his BMW i8 hybrid car. Miner Is Trying to Create a ‘Crypto Utopia’ According to PC Gamer, Byrne fit six Nvidia RTX 3080s graphic cards into the trunk of his car. The hybrid car’s internal battery provides the hardware power. However, the car’s boot should remain open, or the whole mining rig setup will overheat, said the cryptocurrency miner. Hardware Times first…

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Gaming Platform Enjin and Metaverseme Merge NFTs With Augmented Reality to Enhance Gaming Experience

The blockchain gaming platform, Enjin and Metaverseme, an augmented reality (AR) platform are set to introduce tradeable AR fashion assets to the Ethereum blockchain. The Enjin-powered non-fungible token (NFT), which can be worn by users’ avatars in the Metaverseme app, will launch on February 23. Revolutionary Apps and Games According to a statement, the Metaverseme app will allow users to quickly snap selfies in the real world and generate hyper-realistic avatars. The AR mode maps users’ real-world environment, where their digital avatars can be brought to life as they wear…

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Privacy-Centric Messaging App Signal Experiments With Stellar-Based Mobilecoin Project

One of the most popular privacy-centric messaging applications Signal has seen explosive growth during the last two months over things like the Whatsapp acquisition and the recent Big Tech censorship. According to a number of reports, the company has been experimenting with monetization and more recently Signal has been reportedly testing the crypto network Stellar. The mobile company called App Annie detailed at the end of 2020, Signal had around 20 million active users a month. Following the announcement that Facebook was acquiring Whatsapp and changing its privacy terms, there’s…

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American Cancer Society Creates Its First Crypto Only Donation Fund

The American Cancer Society has set up a fund for crypto donations so the nonprofit can raise at least $1 million by early 2021. Together with The Giving Block, the U.S.-based voluntary health organization expects to collect funds via several cryptocurrencies. Donations to Fund Cancer-Related Research Plummeted 50% in 2020 According to the announcement, the cancer crypto fund seeks to provide funding to ongoing research initiatives. The move happens within the context of a strong decrease in donations over 2020 amid the COVID-19 pandemic. The American Cancer Society says the…

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