Tag Archives: crypto

Crypto Platform Robinhood Confirms Plans To Go Public Via IPO

Crypto Platform Robinhood Confirms Plans To Go Public Via IPO

By RTTNews Staff Writer | Published: 3/24/2021 10:55 AM ET

U.S.-based crypto trading platform Robinhood Markets, Inc. has confirmed plans to become a publicly-traded company later this year by pursuing a proposed initial public offering of its common stock.

Robinhood CEO Vlad Tenev confirmed in a blog post that the company has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the proposed IPO. The number of shares to be offered and the price range for the proposed offering have not yet been determined, he added.

The company said the Form S-1 is expected to become effective to launch an IPO after the SEC completes its review process, subject to market and other conditions. It has reportedly selected Nasdaq for the listing.

Robinhood said this announcement is being issued in accordance with Rule 135 under the Securities Act of 1933, as amended. It also added that this announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities.

The market has been rife with speculation about the IPO for the past few months after the company reportedly lined up a team of advisers to guide it through the listing process, including Goldman Sachs. Robinhood has been eying an IPO since 2018.

In January 2019, Robinhood Crypto was granted BitLicense, the license of virtual currency activities, by the New York Department of Financial Services (NYDFS) to offer services for buying, selling, and storing the seven virtual currencies in the state of New York.

For comments and feedback contact: editorial@rttnews.com

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Jack Dorsey Sells Famous First Tweet’ as an NFT for 29 Million

Jack Dorsey Sells Famous ‘First Tweet’ as an NFT for $2.9 Million

By Adrian Klent – March 23, 2021

Twitter CEO and tech entrepreneur, Jack Dorsey has sold his first-ever tweet for $2.9 million after putting up an NFT of it for auction a few weeks ago.

Dorsey shared a link to a platform called “Valuables” two weeks ago via a tweet. Bidding was to be made on the platform, and in just about 24 hours, the highest offer was $2.5 million—an offer from Malaysian businessman and CEO of Bridge Oracle, Sina Estavi overtaking tech entrepreneur Justin Sun’s $2 million bid.

The tweet which says, “just setting up my twttr” was posted on March 21, 2006, and was the first tweet on the social media platform following its inception on the same day.

The tweet was later sold to previously mentioned Malaysian businessman Sina Estavi for $2.9 million; afterward, the funds were converted to 50.875 Bitcoins and donated to charity.

Dorsey whose bio on his Twitter profile reads, “#bitcoin” has been an ardent supporter of Crypto Assets himself.

As a consequence, it wasn’t a surprising revelation to learn he aims to sell an NFT of his first tweet when he made the announcement. He noted that bidding would end on the 21st of March, the proceeds would be converted to Bitcoin and donated to GiveDirectly—a Nonprofit Organization in East Africa focused on helping families in penury.

An NFT [or Non-fungible Token] is a virtual asset that registers the ownership of a digital file (a GIF, a video, or in this case, a tweet) on a Blockchain ledger. It is called “Non-fungible” because the asset is unique and cannot be replaced or duplicated as much as the file itself can. 

NFTs work with the Ethereum blockchain and have been gaining recognition in recent times with American digital artist, Mike Winkelmann, otherwise called “Beeple”, selling an NFT of his JPEG “Everydays: the First 5000 Days” for $69 million on Christie’s; a TikToker Nathan Apodaca auctioning off his viral “skating” video as NFT for $500,000; and digital artist Pak selling an NFT called “Metarift” for $904,413.

The NFT craze has recently escalated with several billionaires and celebrities like Lindsay Lohan, American rapper Ja Rule, Mark Cuban among others joining in the bandwagon.

Just recently, billionaire and CEO of Tesla, Elon Musk, revealed he would be selling a tweet of his as an NFT. Taking to the social media platform, he said, “I’m selling this song about NFTs as an NFT”. Additionally, American rock band Kings of Leon has raised about $2 million with their “NFT Yourself”—a collection of different NFTs it put up on YellowHeart.

Nonetheless, not everyone is excited about the mania as NFT criticisms have heightened alongside the hype it’s getting with some Twitter users criticizing the security of NFTs, noting how the digital files associated with them can be erased or replaced, making them worthless.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Adrian Klent and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

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US Presidential candidate served for alleged securities fraud at rally in NYC

U.S. Presidential candidate served for alleged securities fraud at rally in NYC

This campaign rally probably did not turn out quite as the candidate had envisioned it.


Image courtesy of CoinTelegraph

            SEPT 14, 2020

Presidential candidate Brock Pierce was served for his connection to alleged securities fraud during his campaign rally in New York City earlier today.


Source: Twitter.

James Koutoulas, the lawyer leading this case, told Cointelegraph that Pierce was served legal documents in connection with a class action case against Block.One — a company that Pierce co-founded. Block.One was the company behind EOS' $4 billion initial coin offering. The project's ICO was the largest such offering to date.

Brock Pierce has co-founded a number of crypto projects including Block.one, Tether, and Blockchain Capital. The first two have been subject to ongoing legal actions for a number of years.

Pierce announced his long-shot candidacy for U.S. President in July, hot on the heels of Kanye West. His campaign site states that he is a pioneer digital currency and has raised more than $5 billion for the companies he has founded.

This story is developing and will be updated.

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Original article posted on the CoinTelegraph.com site, by Michael Kapolkov.

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California Man Charged With Stealing Cryptos Through SIM Swapping

California Man Charged With Stealing Cryptos Through SIM Swapping

By RTTNews Staff Writer | Published: 6/11/2020 10:19 AM ET

A California man was charged in the Eastern District of Louisiana for his role in SIM-Swap scam that targeted at least 20 people, including a New Orleans physician, according to a statement by the U.S. Department of Justice (DoJ).

20-year-old Richard Yuan Li was indicted with one count Bill of Information with conspiracy to commit wire fraud. U. S. Attorney Peter Strasser reiterated that a Bill of Information is merely a charge and that the guilt of the defendant must be proven beyond a reasonable doubt.

Bill of Information details a SIM Swap scam as a cellular phone account takeover fraud that results in the routing of a victim's incoming calls and text messages to a different phone to obtain access to a victim's various personal accounts, including email accounts, bank accounts, and cryptocurrency accounts, as well as any other accounts that use two-factor authentication..

According to the charges, Li and his co-conspirators is charged of arranging for victims' telephone numbers to be swapped to SIM cards contained in cellular phones in their possession.

Later, LI and his co-conspirators gained access to victim's email accounts and cryptocurrency accounts with several crypto-exchanges as a result of the SIM Swap and stole a significant portion of the victim's cryptocurrency.

LI and his co-conspirators also contacted the victims and demanded victims to pay a ransom in exchange for releasing some or all of the personal information and cryptocurrency back to victims. In the case of the physician, they asked him to pay 100 Bitcoin to prevent the pictures stored in his Gmail account from being released and the contents from his various cryptocurrency accounts from being taken.

In total, LI is charged of participating in unauthorized SIM Swaps with his co-conspirators that targeted at least twenty victims between October 11, 2018 and December 6, 2018.

"SIM swapping" or "SIM hijacking" can be done with little more than a persuasive plea for assistance, a willing telecommunications carrier representative, and an electronic impersonation of the victim.

If convicted, Li faces a maximum sentence of five years in prison, a fine of up to $250,000, up to three years of supervised release after imprisonment, and a mandatory $100 special assessment per count.

According to a report on krebsonsecurity.com, the U.S. State of California is said to be the hub of unauthorized "SIM swaps." The report says kids aged particularly between 19 and 22 are found to be stealing millions of dollars in cryptocurrencies.

SIM swapping attacks primarily target individuals who are visibly active in the cryptocurrency space, such as people working at cryptocurrency-focused companies, speakers at public conferences on blockchain and cryptocurrency technologies, and those openly talk on their crypto investments on social media.

For comments and feedback contact: editorial@rttnews.com

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Crypto-exchange Gemini Integrates With Samsung Blockchain Wallet

Crypto-exchange Gemini Integrates With Samsung Blockchain Wallet

By RTTNews Staff Writer | Published: 5/29/2020 10:26 AM ET

Gemini, a crypto-exchange and custodian owned by Internet entrepreneur twins Cameron and Tyler Winklevoss, has teamed up with Samsung Blockchain to integrate the Samsung Blockchain Wallet. Gemini claims to be the first U.S. crypto exchange and custodian to integrate the wallet.

The integration of the Samsung Blockchain Wallet will enable its users in the United States and Canada to connect to the Gemini mobile app to buy, sell, and trade crypto.

The Samsung Blockchain Wallet is a convenient and secure crypto-wallet that allows users to self custody their crypto directly on their Samsung Galaxy phone supporting the Samsung Blockchain.

By connecting their Samsung Blockchain Wallet to Gemini, users can buy and sell cryptos, view their Gemini account balances, and also transfer their crypto into cold storage with Gemini Custody for the highest level of security.

Samsung Blockchain Wallet users will also be able to take advantage of the recently provided insurance coverage of up to $200 million for digital assets held on behalf of clients in Gemini Custody. This coverage is provided by a "Captive Insurance Company" or self-insurance company, which was launched by Gemini in January.

The captive insurance company called Nakamoto, Ltd. is licensed by the Bermuda Monetary Authority (BMA) to insure Gemini Custody. It is also claimed as the world's first captive to insure crypto custody.

In October last year, Gemini had secured insurance coverage for digital assets held on behalf of its clients in their online hot wallet. The insurance coverage was provided by a global consortium of industry-leading insurers and arranged by professional services firm Aon, which provides risk, retirement and health solutions.

Apart from this Hot Wallet insurance coverage, U.S. dollar deposits held at Gemini are eligible for "pass through" deposit insurance provided by the Federal Deposit Insurance Corporation (FDIC).

Gemini Custody is regulated by the New York State Department of Financial Services (NYDFS) and is SOC 2 Type 1 compliant.

For comments and feedback contact: editorial@rttnews.com

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Bitcoin amp Crypto’s Dr Doom Had Warned About Riots back in March

Bitcoin & Crypto’s Dr. Doom Had Warned About Riots back in March

Professor Nouriel Roubini had foreseen the possibility of riots as a result of the economic downturn due to COVID19.

John P. Njui   •   BITCOIN (BTC) NEWS – CRYPTOCURRENCY   •   JUNE 1, 2020  

In brief:

  • In early March, Professor Nouriel Roubini had warned of the looming US and Global economic crisis due to the spread of the Coronavirus.
  • He had predicted that there would be a ripple effect of unemployment and a disruption in the global food supply chain that would lead to riots.
  • The unfortunate death of George Floyd and the resulting protests were further amplified by the anger brought about by lockdowns and unemployment.

On May 25th 2020, George Floyd passed away in Powderhorn, Minneapolis. His death was as a result of a police officer (and three more) kneeling on his neck and body as he lay face down and handcuffed on the street. Mr. Floyd’s arrest and subsequent death, has angered many across the United States and the World as it further demonstrates the underlying issues in America with respect to racism and injustices that continue to haunt the Western nation since its independence from Britain in 1776.

Bitcoin & Crypto’s Dr. Doom Had Warned About Riots in Early March

As several American cities continue to experience social unrest, Professor Nouriel Roubini, also known as Bitcoin’s Dr. Doom, had warned about riots from as far back as early March. His warnings had stemmed from his observation and analysis of the global economic impact brought about by the Coronavirus.

One of his tweets from March 28th in which he warns about pending riots can be found below.

The next wave of the negative supply shock: disruption in US and global food supply chains and risks of food riots. The Arab Spring started with food riots. "A food crisis looms as coronavirus forces farms to stay idle and countries hoard supplies"

Professor Roubini’s Analysis of the Current Riots Rocking the United States

Furthermore, and in the following two tweets, Professor Roubini has explained that the riots go beyond the anger brought about by the unnecessary death of George Floyd. According to him, the unemployment of over 40 million Americans and their simmering anger is another reason why America is burning.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

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Cryptocom To Expand Visa Card Program To Canada

Crypto.com To Expand Visa Card Program To Canada

By RTTNews Staff Writer | Published: 5/22/2020 10:42 AM ET

Payments startup Crypto.com is set to expand its MCO Visa Card program in Canada.

The program was launched in Singapore in October 2018, in the United States in July 2019, and in Europe in April 2020.

Hong Kong-based Crypto.com's MCO Visa card was one of the first on the market when it launched in Singapore, and is now the most widely available card in the world. The card is issued by Wirecard Card Solutions Ltd., pursuant to a license from Visa.

The Crypto.com app acts as a single hub. Customers will be able to manage their card usage, move funds between crypto and fiat, and freeze or unfreeze their card with a single tap.

Once the card is paired with the app, users can securely buy, sell, store, send, and track cryptocurrencies, allowing them to use fiat currency converted from cryptocurrency without currency exchange fees. It also allows them to earn crypto and get an instant loan.

All MCO Visa Card transactions are denominated in fiat currency. All cryptocurrency exchanges to fiat currency take place before users may load their MCO Visa Card for use on the Visa network.

The MCO Visa card is a metal card with no annual fees and the Crypto.com Chain enables users to pay and be paid in any crypto, anywhere, for free.

There are seven card types, differentiated by increasing limits for free ATM withdrawals and extend of crypto cash-backs on usage.

The features offered on various cards are no annual or monthly fees, 100 percent rebate on Spotify, Netflix and Amazon Prime, airport lounge access for select cards, no fee ATM withdrawals, tap-and-pay functionality, and competitive interbank rates.

Earlier this month, the company had announced a new $100 million insurance policy that brings Crypto.com's total crypto insurance to $360 million, providing an additional layer of protection for its over 2 million user base against physical damage or destruction, and third-party theft.

In the U.S., the card supports both crypto and fiat top-ups and is now compatible with Apple and Google Pay. The U.S. card launch was in partnership with the Metropolitan Commercial Bank.

For comments and feedback contact: editorial@rttnews.com

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Gambling for a good cause CryptoSlots donates all proceeds from new slot to the fight against coronavirus

Gambling for a good cause – CryptoSlots donates all proceeds from new slot to the fight against coronavirus

    May 1, 2020   •   in Press Releases

CryptoSlots released their newest slot, Micro Monsters, a game filled with bonus extras to beat the reels’ viral critters. The biggest bonus, though, is that every bet made on the slot will be donated by the crypto casino to Direct Relief, a charity supporting health workers and patients during this pandemic.

Take part now and spin with a 100% match bonus on your deposit: bonus code FIGHTCOVID100, valid until May 15, 2020. *

Direct Relief focuses on providing personal protective equipment to those most at risk around the world. In the U.S., they are coordinating with health organizations and businesses to deliver essential medical items and critical care medications. Follow CryptoSlots on Facebook to track the amount raised by players.

Micro Monsters is one of the Mega Matrix slots, a group of games made notable by being wackier and more unusual than conventional slots games. Wins can start anywhere on a payline in this circular game. There is also an expanded Double Wild on the middle reel and Mystery Multipliers. Bet from $0.60 – $4.80 to spin and your bets (minus wins) will be donated to charity.

‘Hopefully this contribution will make a difference to those on the front line,’ said casino manager Michael Hilary, ‘as well as providing entertainment to those doing their part by staying at home.’

Launched in 2018, CryptoSlots quickly found success as a prime destination for online crypto players. Slots make up the majority of the games at this bitcoin casino, along with video poker and keno. All games are provably fair and mobile friendly. Bitcoin, Litecoin, Bitcoin Cash & Monero are all accepted payment methods.

*Valid for deposits of $25 – $250. General terms & conditions apply.

EWN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. EWN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

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Original article posted on the EthereumWorldNews.com site, by Adrian S. Mathieu.

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CoinMarketCap Partners Gilded To Autopilot Crypto Invoicing And Payments

CoinMarketCap Partners Gilded To Autopilot Crypto Invoicing And Payments

By RTTNews Staff Writer | Published: 4/24/2020 10:50 AM ET

Cryptoasset data provider CoinMarketCap, recently acquired by Binance, partnered Gilded to automate their digital currency invoicing and payments as well as to offer its global customers faster payment options with cryptocurrencies such as Bitcoin.

Gilded's seamless blockchain-powered invoicing, payment and accounting solution will enable CoinMarketCap to get paid faster and more transparently, with lower fees to customers. The end-to-end solution includes invoicing to payments, bookkeeping, accounting, and tax reporting.

Gilded also integrates with popular CRMs and bookkeeping systems to create a seamless workflow from payments to accounting.

The deployment of Gilded's digital currency payment solution will help CoinMarketCap in integrating the sales process with receipt of payment easier, eliminating the need to manage the payment process manually.

Under autopilot mode, invoices are created automatically, and payments are automatically detected and reconciled on blockchain. The auto-managing of the payment process enables CoinMarketCap to focus on delivering value to customers, innovation and growth.

The Gilded-generated invoice offers international wire transfer, credit card and crypto payment options through Bitcoin or Ethereum wallet. Customers can take advantage of the benefits of crypto payments with easier global access, fast settlement, lower fees, etc.

Until now, most companies have had to use banks or money transfer services to make international payments. Compared to international wire transfers, crypto payments are ten times cheaper, faster, and more transparent.

Traditional payment solutions include multiple intermediaries, each introducing additional friction, delays and transaction fees. International payments made with wire transfers can take as long as five days to clear, with no transparency in between.

In early 2020, Gilded announced partnerships with TrustToken, Paxos and Stablecorp to offer B2B payment solution powered by stablecoins.

For comments and feedback contact: editorial@rttnews.com

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Opera Web Browser Adds Crypto Domain Extension for Its Users

Opera Web Browser Adds Crypto Domain Extension for Its Users

By Muskan Bagrecha   Posted on 30/03/2020   3 Min read

  • Opera has collaborated with cryptocurrency payments platform Unstoppable Domains to allow usage of decentralized websites.

Opera is now allowing users to access decentralized web pages in a partnership with Unstoppable Domains, a tech firm backed by bitcoin advocate Tim draper, in an announcement shared with Cointelegraph. The collaboration between the two involves the integration of Unstoppable Domains' .crypto domain extension to such web pages which will allow users to access decentralized websites. In addition, the users will also be allowed to execute cryptocurrency payments.

The announcement further states that the decentralized websites would be stored in a peer to peer network rather than cloud services, thereby allowing transaction to be executed without the need of a middleman and that the websites cannot be censored. Moreover, due to the strong and robust distributed network, the speed of the internet connection is also enhanced. Unstoppable Domains stated:

"Decentralized websites solve a user's ability to publish — it's on the publishing side rather than on the viewing side. Right now, you can't publish using a traditional domain registrar if you're in a place that is limiting free speech. Whereas, with decentralized website tools, you could. So it's about the publishing and not the viewing.”

There is however one disadvantage in the fact that people who reside in countries with internet censorship and other surveillance issues cannot reap the benefits of a decentralized web sit without using a VPN or any other tool.

BitcoinNews.com is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Image Courtesy: Pixabay

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