Bitcoin Hedge Fund and CEO Slapped With $2.5 Million Penalty for Ponzi Scheme

A New York federal court has ordered cryptocurrency hedge fund Gelfman Blueprint, Inc. (GBI) and its CEO Nicholas Gelfman to pay over $2.5 million for operating a fraudulent Ponzi scheme, according to an official announcement published Oct. 18. GBI is a New York-based corporation and denominated Bitcoin (BTC) hedge fund incorporated in 2014. As stated …

‘Cryptocurrency Fever’ Has Begun to Diminish, Russian Central Bank Head Says

The head of Russia’s central bank, Elvira Nabiullina, believes that “crypto fever” is beginning to diminish, major Russian news agency RIA Novosti reports Thursday, Oct. 18. Nabiullina, while speaking at finance innovation forum Finnopolis held in the South Russian city of Sochi, said that she believes cryptocurrencies and blockchain are now being treated more rationally: …

Two-Thirds Fail Crypto Agent Exam Despite Authorities’ Attempts to Ease Process

Almost two-thirds of those taking Malta’s cryptocurrency agent certification have failed, despite examiners’ last-minute changes to ease the marking scheme, English-language daily Times of Malta reports Oct. 18. Since the Virtual Financial Assets Act (VFA) came into effect last November, the exam, as well as a training course, has been mandatory for all those looking …

DLT Falls Short of Meeting Financial Market Demands

The World Payments Report 2018 published Oct. 16 has found that distributed ledger technology (DLT) is not currently capable of meeting financial market demands. The annual report was jointly compiled by consulting and technology services firm Capgemini and leading European bank BNP Paribas. To prepare the report, researchers conducted an assessment based on multiple criteria, …

Redditors Accuse Amex of Sponsoring Anti-Crypto Tweets, But Proof Inconclusive

Reddit users have alleged that American Express (Amex) has sponsored crypto-skeptical content on Twitter, according to a popular forum thread opened Tuesday, Oct. 16. The tweet in question was allegedly circulated through Bloomberg’s Twitter network “TicToc” on Oct. 11, and was reposted as a screenshot to Redditor u/Alexsayzz’s thread titled “Anti-crypto propaganda… promoted by American …

Cryptocurrency Market Prices Could Increase Tenfold by 2020

Cryptocurrency markets could increase ten times over from 2020, blockchain investment firm and hedge fund Pantera Capital’s co-CIO told Bloomberg Tuesday, Oct. 16. Speaking in an interview, co-CIO Joey Krug said that scalability improvements for Bitcoin (BTC) were essential to spark a shift in the deflated prices seen throughout this year. He told the network: …

Coinbase Launches Trading for First ERC-20 Token on Platform

San Francisco-based cryptocurrency exchange Coinbase has announced trading is now open for 0x (ZRX), making it the first ERC-20 token available for trade on the platform, according to a blog post published Oct. 16. On Oct. 11, Coinbase launched support for ZRX on its professional platform, Coinbase Pro, although it stated that trading will only …

Fifth Largest Crypto Exchange Huobi Lists Four USD-Backed Stablecoins, Following OKEx

Another major crypto exchange Huobi has announced the listing of four stablecoins at once, according to an official statement Tuesday, October 16. Starting Friday, Oct. 19, the fifth largest crypto exchange by trading volume will start accepting deposits of four USD-backed stablecoins – Paxos Standard (PAX), TrueUSD (TUSD), USDCoin (USDC), and Gemini Dollar (GUSD). The …

Crypto Payment Platform BitPay Introduces Settlement in Stablecoins

U.S.-based cryptocurrency payment processor BitPay has started accepting stablecoins, according to an announcement published Oct. 15. The company now allows its merchants to receive settlements in Gemini Dollars (GUSD) and Circle USD Coin (USDC). Founded in 2011 in Atlanta, Georgia, BitPay provides payment services with Bitcoin (BTC) and Bitcoin Cash (BCH) with a customer base …