The top news in the last 24 hours are shown below:
Cybercriminals use Uber, Airbnb, bitcoin with ‘mixers’ and other techniques to launder money stolen from your credit card
Cybercriminals are turning to new technologies to launder their ill-gotten gains, including recruiting fake Uber drivers, shady Airbnb hosts and crypto conversion specialists via the underground dark web, experts say. One of them involves using “mixers,” which “divide currency among multiple accounts, transfer bitcoin through several other accounts, and eventually send them to one, external and clean account,” Mador said.
In court, blockchain entrepreneur says investors have no ownership rights
Israeli cryptocurrency entrepreneur Moshe Hogeg has defended himself against an unhappy investor’s lawsuit by saying his company is under no obligation to use investor’s funds as set out in the company’s “white paper” and that investors have no ownership rights in the cryptocurrency company they invest in.
Though SEC Commissioner is ‘Optimistic’ for BTC ETF Approval, We Never Know
Lost of crypto news feeds are inundated with different headlines: from ‘ETFs will be approved in no time’ to ‘ETFs will be approved soon.’ However, there are no official statements made by the participating regulatory agency. The latest report grabbing the ETF headline, via Twitter, is apropos a leaked document of an interview with the SEC Commissioner prognosticating a BTC ETF ‘might eventually be approved’; but, again, it’s not an official statement
GoxRising Proposes Revival of Mt. Gox; Will Japan Grant the Proposal?
Mt. Gox, Japan-based and the biggest bitcoin exchange in yesteryears, was once administering 70% of the world’s BTC transactions. Enter February 2014; Mt. Gox was bankrupt after facing a sequence of hacking attacks, where billions of user funds (roughly 850,000 bitcoins) were stolen. Also in that year, a $16 bln breach of contract lawsuit was filed against creditors of the exchange by CoinLab. Today, the co-founder of Blockchain Capital, Brock Pierce, wants to resurrect Mt. Gox through a coalition called GoxRising.
Bitcoin Revolution ‘Still at the Beginning of the Beginning’ according to Binance CEO
If you’re worried that you missed your spot on the cryptocurrency wagon, have no fear. According to Bitcoin billionaire and Binance founder Changpeng Zhao, we’re still “at the beginning of the beginning.” It’s an encouraging message and one that suggests that there’s still plenty of time to hop on board. Zhao’s message is in response to a Twitter user who suggested that he’d missed out on Bitcoin in its obscurity in 2013. At the time, the technology was still widely unknown and still in its infancy. At the time, Bitcoin moved from $13 to $947. Currently, the first digital currency floats around $3,600 – and this is a price at which Bitcoin has taken a massive beating.
Cryptocurrency Prices to ”Stage Visible Recovery” in 2019, According to Fundstrat
The New York-based equity research outfit Fundstrat Global Advisors has recently published its 2019 cryptocurrency outlook. Moreover, cryptocurrency supporters suffering from bear market fatigue will be pleased to hear that the report describes several improvements that could support higher prices. Specifically, the study was published on February 8th. Furthermore, Fundstrat’s co-founder Tom Lee – who is notoriously pro-cryptocurrency – commented on the report through the use of his personal Twitter account. ”We see 9 incremental improvements in the landscape that ultimately support higher prices,” Lee noted in his tweet. Nevertheless, the report starts with a summary of 2018, which Fundstrat notes brought several market disappointments.
One of the Largest Banks in the Philippines Launches Cryptocurrency ATM
Local Philippine news outlets are reporting that the Philippine UnionBank, one of the country’s largest commercial banks, has launched a cryptocurrency ATM. Furthermore, such an ATM would represent the first cryptocurrency ATM in the country. Specifically, this news comes from Philstar, a local news platform. According to the publication, this particular machine is described as being a “two-way virtual currency automated teller machine (ATM), allowing customers to purchase and sell virtual currencies for cash via an ATM machine as part of its sandbox.” Moreover, UnionBank has reportedly clarified that this ATM comes as part of a wider push towards supplying Filipinos with ”innovative solutions” that adhere to local regulations.
BTC Transactions Hit 1-Year High But Volume Remains Sluggish
There’s good news and bad news for traders monitoring onchain data for signs of a market revival. The number of daily transactions has been rising for months, suggesting that BTC is being used for more than merely speculative purposes. Daily trade volume remains sluggish, however, suggesting another bull cycle is still some way off.
Rio Carnival to Feature Bitcoin This Year
Imperatriz Leopoldinense, a prominent Brazilian samba school, has chosen money as the theme of its performance during the 2019 Carnaval do Rio de Janeiro, which will be held in the week of March 2 – 9. Its dancers will tell the history of money, from the first metal coins and paper bills to modern day cryptocurrencies.
BTC Futures Volume Plummets Heading Into 2019
Research carried out by Tradeblock has found the combined trade volume across the futures contracts offered by Chicago Mercantile Exchange (CME) and Chicago Board Options Exchange (CBOE) plummet relative to spot market volume during the second half of 2018.
Venezuela Starts Regulating and Taxing Crypto Remittances
The Venezuelan government has begun regulating cryptocurrency remittances. The regulator has set a monthly limit and will be collecting commissions of up to 15 per cent of the transaction amount. Additionally, new details of its comprehensive registry of crypto service providers have been announced.
Localbitcoins to Introduce New User Verification Rules
Peer-to-peer crypto exchange Localbitcoins is preparing to implement updated requirements for the identity verification of its users. The company recently revealed it’s cooperating with regulatory agencies in Finland on the implementation of the latest EU anti-money laundering rules.