Following the resolution of the Bitfinex/Tether case last week, the cryptocurrency world breathed a collective sigh of relief now that the ‘Tether FUD’ was over (despite it not being FUD at all). As part of the settlement, which saw Tether’s parent company iFinex agreeing to pay an $18.5 million penalty in return for concluding the case, Tether must submit quarterly filings to the Office of the Attorney General (OAG) to show that every one of its USDT tokens is backed. However, the fact that they have been either unable or unwilling to provide such information at any point since the first USDT token was minted in 2014 suggests that this process may not be as easy as the community thinks, and that the threat of a Tether collapse may not be over after all.
The times when we had to dig deep and be imaginative in order to find a way to exchange our bitcoin for real life goods is long behind us. Nowadays, not only are we able to buy whatever we want on numerous e-commerce sites but also more and more land-based merchants are deciding to accept bitcoin. Whether it is goods or services you can easily get whatever you need in exchange for bitcoin. We here at FullyCrypto are always on the lookout for new nifty things to spend our bitcoin on. So, we’ve gone on and made a list of our favorites. Take a look and you might get some new ideas.
Read the full article at FullyCrypto: https://fullycrypto.com/5-awesome-things-you-can-buy-with-bitcoins
The news that Bittrex will be delising three privacy coins in two weeks’ time has led to confusion among the cryptocurrency community, who have been left wondering whether Bittrex knows something they don’t or if they’re just being super cautious. While some countries have made concrete plans to ban privacy coins, the U.S. has made no such moves, and with Bittrex offering no information as to why they have chosen to delist the situation remains confused.
Read the full article at FullyCrypto: https://fullycrypto.com/bittrex-privacy-coins-delistings-a-sign-of-things-to-come
Bitcoin dominance has broken above an almost four-year resistance level, suggesting that it may be about to run riot against alt coins. Bitcoin dominance fell dramatically during the 2017 bull run and only started to recover in 2018, with that recovery leading to the breakout, aided by institutional investors ramping up the Bitcoin hype this year. But what does this mean for BTC, and more importantly alts in 2021?
Read the full article at FullyCrypto: https://fullycrypto.com/bitcoin-dominance-overcomes-four-year-resistance-level
A Bitcoin fund manager who operated a Ponzi scheme and lost $5 million of his clients’ money has been arrested by the FBI more than two years after victims pressed charges. Jeremy Spence, who went by the name CoinSignals, convinced 174 individuals to hand over the contributions, saying he could return three figure profits when in fact he was using new money to pay back older investors. It is suspected that Spence lost a huge chunk of the money when Bitcoin crashed from $6,480 to $3,660 in November 2018.
Read the full article at FullyCrypto: https://fullycrypto.com/coinsignals-operator-jeremy-spence-arrested-by-fbi
Altcoins have suffered double digit selloffs across the board in the past 48 hours as Bitcoin dominance has risen dramatically in line with a $700 move since Sunday. This has left Bitcoin dominance threatening to break out of its five-week channel which would cause more misery for altcoin holders, although they may get a reprieve if Bitcoin dominance gets rejected at resistance and continues to range.
Read the full article at FullyCrypto: https://fullycrypto.com/bitcoin-dominance-rebound-threatens-alt-season
A court in China has sentenced some of the ringleaders of the now notorious PlusToken crypto scam to up to 11 years in prison. The sentencing marks the conclusion of Asia’s biggest ever cryptocurrency scam, which some sources estimate to be worth around $10 billion at today’s prices. The South China Morning Post reported yesterday that the 11 ringleaders were sentenced for $2.25 billion worth of fraud, bringing to an ignominious end the Ponzi scheme that claimed to offer guaranteed returns on investments and arbitrage among other methods of money generation.
Read the full article at FullyCrypto: https://fullycrypto.com/plustoken-scammers-sentenced-to-up-to-11-years-in-prison
Virgil Griffith, the programmer and Ethereum advocate indicted for advocating cryptocurrency as a sanction evasion strategy in North Korea, has filed a motion to have his case dismissed. Griffith was arrested in November on the assertion that he violated the International Emergency Economic Powers Act (IEEPA) by traveling to North Korea and speaking on the subject during a crypto conference, although Griffith’s lawyer has claimed that the ruling impinges Griffith’s first and fifth amendment rights.
Read the full article at FullyCrypto: https://fullycrypto.com/virgil-griffith-files-motion-to-dismiss-in-north-korea-case
In today’s episode, Mark and Alex discuss who was at fault in last week’s Eminence farce and look forward to ‘Fake!’, the recently announced film about the OneCoin scam starring Kate Winslet.
A leak of thousands of documents has detailed $2 trillion of potentially corrupt transactions that have been washed through the US financial system between 1999 and 2017, reinforcing the notion that traditional finance, not cryptocurrency, is still the favored vehicle for money launderers. The files, which take the form of suspicious activity reports (SARs) filed with the US government’s Financial Crimes Enforcement Network (FinCEN), involve, among others, JPMorgan, whose CEO Jamie Dimon has famously labelled Bitcoin a scam.
Read the full article at FullyCrypto: https://fullycrypto.com/fincen-files-leak-shows-mass-bank-money-laundering