Implosion: MATIC Erases Four-Week Rally in Just Two Days

Implosion: MATIC Erases Four-Week Rally in Just Two Days

Sandeep Nailwal, chief operating officer and co-founder of MATIC Network, trashed allegations of manipulation and assured investors that his team had nothing to do with the price drop. He backed up his claim in a tweet noting that a majority of tokens are still in MATIC’s foundation address and that the unlocking of the 248 million tokens in question was done in a staggered manner “so there is no large sell pressure on [the] community.”  The unlocked tokens amounted to just 0.25 percent of the total supply, MATIC’s official twitter account claimed.

US Arrests 3 in Alleged Crypto Mining Pool Fraud Scheme

US Arrests 3 in Alleged Crypto Mining Pool Fraud Scheme

According to a press release, Matthew Brent Goettsche, 37, of Lafayette, Colorado; Jobadiah Sinclair Weeks, 38, of Arvada, Colorado; and Joseph Frank Abel, 49, of Camarillo, California were indicted on charges of conspiracy to commit wire fraud (Goettsche and Weeks) and conspiracy to offer unregistered securities through their participation in BitClub Network, a mining pool 

UK Court Orders US Judge to Depose Telegram’s Advisor About Token Sale

UK Court Orders US Judge to Depose Telegram’s Advisor About Token Sale

“It has been demonstrated to this Court that justice cannot be done amongst the parties to the Action without the testimony of Mr. Hyman… This Court requests the assistance of an appropriate English judicial officer to compel the appearance of Mr. Hyman to give oral sworn testimony and to produce documents on the subject matters and for the date ranges as described in this Request,” the order says.

Cryptocurrency Is Most Useful for Breaking Laws and Social Constructs

Cryptocurrency Is Most Useful for Breaking Laws and Social Constructs

There exists a long history of censorship resistant and privacy preserving technologies: Signal for messaging, Bittorrent for file-sharing, Tor for web browsing. Like bitcoin, these tools are not built for the mainstream. Most people would rather use faster, slicker, glossier centralized alternatives like Facebook Message, Dropbox, and Google Chrome. But for censored people and organizations, decentralized technologies have always provided an escape hatch. For as long as they have existed, these tools have brought with them a certain level of societal discomfort. This discomfort stems not from these platforms being lawless domains — regulations exist on the dark web as much as they do in any jurisdiction – but rather from the difficulty these platforms present in enforcing these government policies and social norms. These technologies render censored activities more difficult to stop.

Accused Onecoin Co-Conspirators Fight Criminal Charges in the US

Accused Onecoin Co-Conspirators Fight Criminal Charges in the US

The Onecoin scam, a multi-level Ponzi scheme that acquired $4 billion from investors has been falling apart at the seams. Criminal proceedings have started against Onecoin leaders and one alleged associate who was found guilty of laundering $400 million has asked a New York judge for more time to process an acquittal motion. Additionally, according to testimony from Onecoin cofounder Konstantin Ignatov, the owner of the Phoenix Thoroughbreds was accused of stealing €100 million from the Onecoin Ponzi. Also read: Onecoin Websites Suspended as the $4 Billion Ponzi Crumbles Accused Onecoin Co-Conspirator Asks for Extension to Prepare Acquittal and Retrial Motions Onecoin is a Ponzi scheme founded in 2014 by Ruja Ignatova, Sebastian Greenwood, and Konstantin Ignatov. For years the leaders, alongside a large group of associates, claimed Onecoin was a real blockchain and a legitimate cryptocurrency. However, many individuals, groups, and insiders revealed the true nature of the Onecoin beast, but it still managed to siphon $4 billion from unknowing investors. Last week, news.Bitcoin.com reported on how Onecoin operations have been falling apart and a slew of Onecoin domains were seized by law enforcement. Both Konstantin Ignatov and Sebastian Greenwood were arrested by U.S. authorities last year, but Ruja Ignatova, otherwise known as the ‘Crypto Queen,’ has been on the lam. According to her brother Konstantin, Ruja allegedly acquired a “big passport” and met up with Russian friends in Athens. No one has been able to locate Ruja, and just before she left, the Crypto Queen purchased a multi-million dollar home and yacht. From left to right: Ruja Ignatova, Konstantin Ignatov and Sebastian Greenwood are the three accused creators of the Onecoin Ponzi scam.While Ruja remains at large, one of her alleged associates from the U.S., Mark S. Scott, has been dealing with a trial of his own. Scott was convicted by the New York Southern District Court (NYSD) in November for bank fraud and conspiracy to commit money laundering. On December 4, Scott was given more time to have his legal team prepare motions for an acquittal and possibly a new trial. Scott is accused by U.S. prosecutors of laundering $400 million worth of Onecoin’s proceeds. Prosecutors claim Scott created fraudulent investment funds he curated and Onecoin paid him $50 million for his…

Tezos Rally Fizzles After 100% Gain — Likely Top for XTZ/BTC Appears

Tezos Rally Fizzles After 100% Gain — Likely Top for XTZ/BTC Appears

Lately, Bitcoin (BTC) price has been trading in a range that favors bears and this has led traders to shift their focus to altcoins. Interestingly, there has also been some very volatile price action taking place over the past 24-hours, especially with Binance Initial Exchange Offerings (IEOs) like Matic Network (MATIC) which dropped 60% on Dec. 9. This drop led several other Binance IEO’s to dump and a handful of non-IEO altcoins also followed. However, one of the most active coins lately is Tezos (XTZ), and its recent 100% rally validates the need for a deeper analysis of the asset’s price action. Crypto market daily performance. Source: Coin360 Tezos rallies 100% over the past six weeks Tezos was one of the most energetic performers throughout November and the price rallied from $0.735 to a high of $1.64 a few days ago. XTZ USD daily chart. Source: TradingView The daily timeframe of the XTZ/USD pair shows a nice breakout from a falling wedge pattern that occurred at the end of October. The price immediately flipped the $0.85 level as support, which created space for continued upwards movements towards $1.65. The current level is the resistance level where the price was rejected. This rejection also shows that the chart has potential bearish divergences, which can imply that the price is temporarily reversing here. Exciting levels for support are seen through the $1.20 area and the $1.30 horizontal level. Bearish divergences spotted on the 4-hour chart XTZ USD 4-hour chart. Source: TradingView The 4-hour chart of Tezos is showing a continuation pattern at $1.30. The price continued to make higher lows, which usually marks an uptrend and broke out of the triangle structure at the beginning of December. This breakout caused the price to push towards the next resistance zone, the red area around $1.65. As is seen in the chart, the RSI indicator started to show a bearish divergence, which generally marks a potential trend reversal. In this case, the price started to reverse and dropped towards the $1.46 level. XTZ/BTC pair shows a possible top formation XTZ BTC daily chart. Source: TradingView The XTZ/BTC pair is showing a healthy chart in which many technical aspects are shown. First of all, the price pushed through the resistance…

2019: The Year Washington, Silicon Valley and Beijing Faced Off Over Crypto

2019: The Year Washington, Silicon Valley and Beijing Faced Off Over Crypto

After multiple failed attempts, the second largest blockchain in the world by market capitalization executed its sixth system-wide upgrade, also called a hard fork. Dubbed Constantinople, the hard fork was executed as two upgrades, one after the other, in order to patch a critical vulnerability discovered mere hours before the upgrade was scheduled for activation. 

Nic Carter on Quadriga, Libra and Other Suspect Projects

Nic Carter on Quadriga, Libra and Other Suspect Projects

Yeah, it seems that is the number one story of the year. What’s really interesting to me is that, Congress got so upset about it, I think mostly to score political points. But I think Facebook miscalculated, because they thought their messaging was about creating a global currency. We’re gonna have this reserve, and we’re gonna fill it with all these foreign currencies, and a little bit of dollars. Obviously, that’s going to offend Congress. Because the dollar is like 70 percent of all international trade. So they’re going to want the reserve full of dollars. Facebook could have gone the patriotic route, and said the Libra Reserve will be full of dollars and maybe 10 percent Swiss francs. So we’d basically export dollars abroad, which helps finance the government. It’d be good for the U.S., good for the treasury. It’d be a new vector for the dollar’s rise around the world. You could keep selling cheap Treasury bills and so on. 

JPMorgan Blockchain Payments Network Eyes January Japan Launch

JPMorgan Blockchain Payments Network Eyes January Japan Launch

Built on Quorum, a permissioned blockchain based on ethereum and developed by JPMorgan, IIN is designed to enable member banks to exchange information in real time, allowing them to verify a payment has been approved. This, the bank says, helps reduce friction in international payments and ultimately leads to faster processing times.