If You Held Crypto on CoinGather in 2017 the US Government Wants to Give it Back

The United States Department of Justice is seeking the owners of crypto funds that were held by CoinGather — a small crypto exchange that was seized by the Federal Bureau of Investigations, or FBI, in March 2018. The seizure came months after the exchange had abruptly ceased operating during November 2017, prompting rumors to circulate that the platform had conducted an exit scam.  US Gov seeks victims of CoinGather scam The U.S. government is looking for individuals who may have a claim to the crypto holdings of the defunct CoinGather…

Pump and Dump Complaints Dismissed Against Crypto Mining Firm

New Jersey District Judge, Freda Wolfson, granted seven motions of dismissal that ended a lawsuit targeting crypto mining firm, Riot Blockchain, on April 30. The plaintiffs claimed that Riot had made false and misleading statements to its shareholders concerning its investments in crypto assets and blockchain technologies. The lawsuit accused Riot of issuing misleading materials concerning shareholders who were selling their shares in the company, alleging that “related-party transactions” had not been adequately disclosed by Riot. Riot Blockchain escapes class-action suit Judge Wolfson found that the plaintiffs provided insufficient evidence…

Cryptocurrency News From Japan: April 26

This week’s headlines from Japan included Rakuten Wallet, GMO Coin and DMM crypto exchanges achieving regulatory registration, SBI Holdings’ VC Trade exchange announcing a 1,700% increase in fiscal year pre-tax profit, and SBI Holdings’ CEO calling out the supply chain amid the coronavirus pandemic.  Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Japanese exchange gains financial instruments license Crypto exchange, Rakuten Wallet, now holds status as a Kanto Finance Bureau-registered operation, “as a first-class financial instruments business operator based on the Financial Instruments and…

“Bitcoin is not a F*cking Systemic Hedge If You Hold Your Bitcoin at a Financial Institution”

CoinShares’ chief strategy officer Meltem Demirors shared her view on how the latest crisis in the oil market will impact the ever-changing narratives around Bitcoin.  Changing narratives  According to Demirors, the recent crash in oil prices is a watershed moment which will change forever the narratives in the investment world. As she points out, the COVID-19-induced crisis “has defied all our expectations on what normal is” which is why expecting to go back to the status quo is “preposterous.” “We’re not just seeing a repricing of oil. We are seeing…

Mining Sector Sees Extreme Volatility Amid Coronavirus and Crash During Q1

Crypto research firm, TokenInsight, has published a report covering the crypto mining industry during the first quarter of 2020. The report emphasized swings in Bitcoin (BTC)’s hash rate and the phasing out of older ASIC models. However, volatility has had a greater impact on Chinese miners — with Antminer S9s becoming unprofitable during March. Miners using old ASICs are impacted by price crash The report describes BTC hash rate as having been “extremely volatile” during the early months of 2020 — ranging from between roughly 70 exahashes per second (EH/s)…

BitInstant Was the Netscape of Crypto

In an exclusive interview with Cointelegraph, crypto pioneer and BitInstant co-founder, Charlie Shrem, offered his perspective on the early days of crypto. Despite missing some of the comradery from Bitcoin’s (BTC) infancy, Shrem stated that Bitcoin’s early adopters could have better recognized that crypto was much bigger than a new technology to “have fun and experiment with.” Charlie Shrem on the early days of crypto When asked what lessons the contemporary digital asset landscape can learn from the early days of crypto, Shrem stated: “I think the early days could…

Bitcoin Rally Above $9K Stalls as Sellers Push BTC Back to Key Support

Bitcoin (BTC) price briefly broke above $9,000 as bulls appear to be in the process of trying to quietly move the price above the resistance level. Since Friday trading volume for the top-ranked cryptocurrency on CoinMarketCap had been virtually non-existent as the price traded sideways between $8,750-$8,850 for the majority of the day but the weekend is bound to bring about a stronger directional move. Crypto market daily price chart. Source: Coin360 Will the TD9 ring true again? As reported by Cointelegraph, the presence of a TD9 on the daily…

COVID-19, Gold Demand and the Gold-Backed Stablecoin Opportunity

When markets are bleeding, investors turn to gold.  The celebrated precious metal and former reserve standard of the world’s monetary system is valuable for several reasons, but primarily because it is scarce. So scarce, that supply-chain problems with physical gold delivery are manifesting as demand surges amid the COVID-19 financial chaos. Why is gold so popular amid market turmoil? It’s the classic safe-haven asset — one that fares well when inflationary-prone fiat currencies are subject to $6-trillion stimulus packages and equity markets stray violently up and down. In some cases,…

Bitcoin Is Superior to Gold

A report published by leading U.S.-based crypto exchange, Coinbase, has argued that Bitcoin (BTC) offers a distinct advantage over gold. They state that Bitcoin is afforded these advantages by its lack of dependence on physical supply chains. While the report’s authors assert that “Bitcoin and gold are fundamentally similar as scarce and globally accessible units of value,” Coinbase advances that gold’s recent supply squeeze, resulting from the impacts of the coronavirus pandemic, has highlighted Bitcoin’s superior global accessibility. Bitcoin offers advantages over gold In a report published on May 2,…

OmiseGO’s Parent Company Changes Name to SYNQA

Asian fintech company Omise Holdings, now goes by the name SYNQA.  “Forging into 2020, this new corporate identity reinforces their position as a holding company with a portfolio of companies and as the go-to partner in Asia for all fintech and innovation matters,” an April 30 statement from SYNQA said.  OmiseGo conducted its ICO in 2017 Omise, under Omise Holdings, garnered significant funds for its OmiseGo payment solution during the great crypto boom several years back. The company’s ICO ran during the summer of 2017, raising roughly $25 million from selling Ethereum-based…