Third Crypto Co-Founder Behind $25 Million ICO Scam to Plead Guilty

Sohrab Sharma would be the 2nd co-founder behind the Centra Tech ICO scam to face prison following the conviction of Robert Farkas in June. Sohrab Sharma, one of the co-founders of cryptocurrency firm Centra Tech facing charges related to a $25 million initial coin offering scam, is reportedly planning to plead guilty.  According to a July 13 report from Bloomberg, Sharma may avoid a November trial date as his lawyers told a federal judge he would be interested in changing his plea.  The announcement comes after Sharma’s associate Robert Farkas…

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Fidelity Acquires 10% Stake in Bitcoin Mining Firm Hut 8

The giant fund manager Fidelity International holds roughly 10.6% stake in the bitcoin mining company Hut 8. For six years now, Fidelity, the firm that currently manages $300 billion on behalf of its customers, has been mining the cryptocurrency bitcoin. In May 2017, news.Bitcoin.com reported on Fidelity integrating with Coinbase, mining bitcoin, and even accepting the digital asset at the firm’s cafeteria at its headquarters. Fidelity has been mining bitcoin since 2014, and over the years the firm has increased its stake in this growing industry. On June 10, a…

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Bitcoin’s Hash Rate Just Hit a High — Max Keiser Thinks Price Will Follow

Despite stagnation in the Bitcoin market, the hash rate of the leading cryptocurrency has grown stronger and stronger. The hash rate is the measure of the computational power being allocated to mine BTC blocks. As noted by CoinCorner’s Matt Ward, data shows that the hash rate just hit a new all-time high on July 13th. The measure hit 147.88 exahashes per second, which is double that seen a year ago and over 10 times higher than that of 2017’s $20,000 high. #bitcoin hashrate just reached an 𝗮𝗹𝗹 𝘁𝗶𝗺𝗲 𝗵𝗶𝗴𝗵. The…

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Crypto Exchange Coincheck Supports Trading for BAT Tokens

Coincheck joins Japan-based exchanges GMO Coin and BitFlyer in supporting trading for Brave’s Basic Attention Token starting on July 21. Japan-based cryptocurrency exchange Coincheck will soon offer support for BAT token holders. According to a July 13 announcement from the Monex Group — the owner of Coincheck since its acquisition in 2018 — the virtual currency exchange will make Brave’s Basic Attention Token (BAT) available for trading starting on July 21.  BAT will be the 13th token investors can buy, sell, or trade on the platform following the introduction of…

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Chainlink Token Price Surges, Briefly Breaks Into the Top Ten by Market Cap

The price of Link, the native token of the Chainlink network, soared in 48 hours gaining some 40% in that period. This rally saw the token briefly breaking into the crypto market capitalization top ten. At the time of writing, the token LINK had a market capitalization of nearly $2.6 billion easily beating EOS whose capitalization stood at $2.4 billion. The token, which had its listing in September 2017, started trading at just under $0.20. It currently trades at just above $7.3 and this represents a more than 4700% return…

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Bitcoin May Confirm a Massive H&S Pattern, Marking a Long-Term Top

Bitcoin is currently in the process of breaking out of its trading range between $9,000 and $9,300 The crypto is now showing some signs of strength following yesterday’s harsh rejection at $9,350 that sent it reeling to $9,100 If BTC buyers can perpetuate this upwards momentum, one analyst is now noting that $9,850 is in the cards He also believes that it will face a rejection at this price level, which could confirm a massive head and shoulders (H&S) pattern If confirmed, this pattern alone could spark the next Bitcoin…

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Abra Crypto App Charged by SEC for Transactions Affecting Thousands of US Stock and ETF Purchases

Abra cryptocurrency app has been charged by two U.S. regulators: the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The company has agreed to cease-and-desist orders as well as fines. The SEC says Abra’s employees “effected thousands of stock and ETF purchases in the U.S. to hedge the contracts.” Abra Crypto App Sanctioned in the US The SEC and CFTC independently announced on Monday that they have sanctioned California-based crypto app Abra and its related firm, Plutus Technologies Philippines Corp. d/b/a Abra International of the Philippines.…

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Data Shows the ‘Cheaper Altcoins Make Higher Returns’ Myth Is Flawed

Many investors believe that buying the cheapest altcoins produces greater returns during rallies but is this true? For many investors crypto trading remains a rags-to-riches affair where inexperienced investors hope to strike it rich by buying the cheapest priced altcoins like many novice traders did in 2017. Currently, the majority of traders do not expect Bitcoin (BTC) to pump 50% or more in a single week as $18,400 seems rather infeasible. On the other hand, many of these same investors are willing to put their hard-earned funds behind a lower…

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Police Thwart Dark Web Criminals Who Planned to Firebomb a Nebraskan Pharmacy

William Burgamy and Hyrum Wilson pleaded guilty to conspiring to firebomb a pharmacy in Nebraska. A dark web drug lord and a Nebraskan pharmacist pled guilty to federal charges on July 13 after both were accused of conspiring to bomb a competing business. According to the indictment by the U.S. Department of Justice, 32-year-old William Burgamy from Maryland was the alleged owner of an illegal pharmaceutical site called NeverPressedRX. The site sold oxycodone and a number of other drugs. His supplier, Hyrum Wilson, is the owner of a store called…

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South Korea Could Issue a Crypto Capital Gains Tax as High as 20%

Crypto taxation in South Korea could increase to 20% for capital gains. South Korean private sector members recently discussed a crypto-related taxation bill meant to establish capital gains tax for cryptocurrencies. During these discussions on July 13, members indicated crypto gains taxes could rise as high as 20%. Cryptocurrencies could be considered as “goods” Proposed amendments to existing laws also plan to classify cryptocurrencies as “goods,” rather than currencies.  Lawmakers have established that virtual assets can be considered as electronic certificates of economic value that can be traded electronically. However,…

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