Celsius Network founder gifts wife 15 million CEL tokens

The founder of the crypto payments network Celsius has gifted his wife a large portion of the token supply, reducing his own enormous stake in the process. Celsius CEO Alex Mashinsky gifted wife Krissy 15 million CEL tokens as a birthday present, worth an estimated $20 million at today’s prices. I gave my wife @KrissyMashinsky a very special present of 15,000,000 CEL tokens for her very special birthday. She has been with me through it all and ALWAYS supported me even when I made silly mistakes. I love you Krissy…

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MicroStrategy’s crypto holdings may be paying off more than its business

Business intelligence firm MicroStrategy’s Bitcoin investment is paying off in a big way, with an estimated $100 million in profit.  According to data published Oct. 27 by independent crypto researcher Kevin Rooke, MicroStrategy has earned more from its Bitcoin (BTC) investment than it did through its actual business for the last three years, from Q1 2017 to Q2 2020. Rooke’s data shows that the business intelligence firm’s 38,250 BTC holdings — worth roughly $425 million at the time of purchase in August and September — were valued at more than…

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Researchers question what ‘trustless’ actually means for blockchain

Crypto community members will likely be familiar with mantras such as “Don’t trust, verify!” or the “law of code.” Both refer to the promises of greater transparency and audibility and to a technology that offers to replace fallible, corruptible powerful actors with an actually functional rules-based order, secured through deterministic computation. The desire to dispense with the need to trust third-party actors is a mainstay with many cryptocurrency creators and users. Bitcoin (BTC), after all, was invented in the immediate aftermath of the 2008 financial crisis, and the abuse of authority…

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Exit scams and regulations disrupt global darknet markets

A report published by blockchain forensics firm CipherTrace has detailed significant disruptions to the clandestine darknet marketplace sector following a spate of exit scams during recent months.  Despite opportunities for new marketplaces to capture the users of the now-defunct platforms, CipherTrace notes the absence of a single platform dominating Western volume. It estimates that the Russian-focussed Hydra market is now the largest worldwide. Hydra is estimated to have generated more than $1.2 billion in revenue between June 2019 and July 2020 despite exclusively servicing the Eastern European region. While darknet…

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Market is proving Bitcoin is ‘ultimate safe haven’ — Anthony Pompliano

Bitcoin (BTC) “could not be more uncorrelated” with the stock market, Anthony Pompliano says as data shows that BTC is leaving macro assets behind. In a series of tweets on Oct. 26, the Morgan Creek Digital co-founder, also known as “Pomp,” took critics to task over their accusations that Bitcoin was a poor store of value. Pomp on safe haven Bitcoin: “The market is proving it” Pompliano uploaded a chart from behavior analysis platform Santiment, which showed Bitcoin hitting 0 for 30-day correlation with the S&P 500. “It could not…

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A conversation with Aavegotchi’s Jesse Johnson

Non-Fungible Tokens (NFTs), once the red-headed stepchild to more popular smart contract implementations, are finally beginning to have their day in the sun.  Average purchase prices of NFTs on peer-to-peer exchanges are rising sky-high. Six-figure sales are no longer uncommon. Dapper Labs, the minds behind the great-granddaddy of NFT collectible projects, CryptoKitties, have attracted significant investment for their native blockchain Flow — including investment from NBA stars.  All this progress leads some to wonder, however: where are NFTs going next? One person who might be able to glean some insight is…

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Big Bitcoin prediction, OKEx spooks markets, Ripple exec’s big mistake

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.   Top Stories This Week   PayPal to offer crypto payments starting in 2021 When rumors started circulating in June that PayPal was planning to launch a crypto service, the fintech giant was tight-lipped. But this week, PayPal was ready to show its hand, confirming that it will allow…

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Corporate disclosure is the only way to get crypto institutionalized

Some people predicted that crypto assets were going to be a fad that would quickly come and go. But in just a short time, we’ve seen crypto assets become the focus of new innovation. Cryptocurrencies have offered value exchange, the ability to generate income, and a viable investment option. Young companies are turning away from traditional VC to offer token options to investors. And blockchain technology is offering new value in the form of frictionless data exchange. As a result, crypto is making an ever-expanding effect on global economies, technology…

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China’s central bank lays regulatory foundation for CBDC

China’s central bank, the People’s Bank of China (PBOC), published a draft law this Friday that aims to provide regulatory framework and legitimacy for a forthcoming central bank digital currency (CBDC), the digital yuan.  The draft law states that the yuan is the official currency of the People’s Republic of China whether in physical or digital form. The draft law also appears to take aim at third-party efforts at yuan-backed digital currencies, stating that individuals and institutions are prohibited from making and issuing a currency designed to “replace” digital yuan…

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Cybercrime task force monitoring the global digital financial system

The United States faces a growing threat of transnational cybercrime, particularly against its financial system. In what may be the largest prosecution of its kind in U.S. history, the U.S. Department of Justice has charged Texas tech billionaire Bob Brockman in a 39-count indictment with evading $2 billion in taxes. The businessman used encrypted devices and code words to conceal his wire fraud, tax fraud and money laundering within a network of offshore entities and bank accounts.  As the CEO of Reynolds and Reynolds Co., Brockman contributed 6.4% to the…

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