BitMEX announced a $100,000 grant for the Korean-based Bitcoin scaling researcher – Calvin Kim. Furthermore, the crypto derivatives exchange informed about an additional $50,000 donation from its partner – the Human Rights Foundation.
BitMEX’s $150K Renewal
In a recent statement, the popular Bitcoin derivatives trading venue BitMEX announced it had renewed Calvin Kim’s developer grant until June 2022, supporting him with an additional $100,000. In August 2020, the exchange provided the Korean with $30,000. Moreover, the Human Rights Foundation – a partner of BitMEX – will join along this time with a donation of $50,000 to Kim.
Alex Höptner – CEO of BitMEX – touched upon the collaboration with the Human Rights Foundation and highlighted the significance of Calvin Kim’s job:
”We are delighted to extend our financial support for Calvin for another year. In particular, we are pleased to support a Korean developer such as Calvin, as ensuring the geographic diversity of Bitcoin development is an important factor to consider. Working with an organization such as the Human Rights Foundation is also something we are proud of.”
In his turn, the Korean developer asserted that these funds would provide him with financial stability and allow him to focus on his main goal:
”My sincere thanks to both BitMEX and the Human Rights Foundation for allowing me to continue working on the Utreexo Project without having to worry about finances.”
Kim has been working on Utreexo – a Bitcoin scaling solution and hash accumulator – since mid-2019. He plans to put it into action to improve the initial block download time in the primary cryptocurrency network for his future endeavors.
Former BitMEX Executives to Face Trials
Last year, US officials accused the former CEO of the company Arthur Hayes, the co-founder Benjamin Delo, and the chief technology officer Samuel Reed of violating the Bank Secrecy Act and served them with money-laundering charges.
Even though the company’s headquarters are in the Seychelles, the US Department of Justice accused BitMEX of failing to apply anti-money laundering procedures while doing business with US-based customers.
Interestingly, Hayes said that the exotic island was a more convenient place for business as it was much easier to bribe Seychelles’ authorities than those in the US.
On May 11th, 2021 – months after the first accusations – New York District Judge John Koeltl set the trial date for March 28th, 2022. The former executives could face a maximum of five years in prison and a $250,000 fine.
Bank for International Settlements backs Central Bank Digital Currencies
The BIS, which is often called the central bank to the world’s central banks, set out recommendations on June 23 as to how a CBDC should be.
It estimated that around 56 central banks and monetary authorities around the world are now looking at digitizing their currencies as commerce shifts online, as reported by Reuters.
The momentum comes as usage of physical cash has fallen in the wake of online e-commerce portals and pandemic-induced lockdowns.
The big bankers also see decentralized currencies such as Bitcoin and “Big Tech” as a threat, especially the likes of Facebook and its plans for its own cryptocurrency Diem, formerly known as Libra.
Head of the Innovation Hub at BIS, Benoît Cœuré, warned that without CBDCs, digital money would become increasingly dominated by big tech firms. Describing the scenario as a loss of control of sovereign money, he added:
“That is a place where you don’t want to be, where governments don’t want to be,”
China Leading CBDC Race
According to the report, The Bahamas became the first country to officially launch a general purpose CBDC, known as the Sand Dollar, in October.
China is well on the way to becoming the second.
Earlier this month, Chinese authorities hand out $6.2 million in digital currency to citizens of Beijing for a trial of its digital currency/electronic payments (DCEP) platform.
The Beijing Local Financial Supervision and Administration Bureau allowed citizens to apply for the handout by using two banking applications. The giveaway was part of a lottery system using “red packets” valued at 200 Yuan a piece (around $30).
The southwestern city of Chengdu handed out around 40 million Yuan in digital currency in February this year. Shenzhen also completed a digital currency trial in October 2020.
China also has plans to expand the trials with foreign visitors at the 2022 Beijing Winter Olympics.
More Study, More Regulation
While China forges on, governments in the West are dragging their feet over regulatory woes.
Earlier this month, Republican Maxine Waters announced a task force on Financial Technology that will study cryptocurrencies and CDBCs and their impact on the U.S. economy.
In April, CryptoPotato cited a PwC report that revealed 70% of the world’s central banks are “nowhere near” launching their own CBDCs.
John McAfee’s Strange Suicide Leads To Even Stranger Conspiracy Theories
Today is a sad day for the crypto-verse. For good or bad, John McAfee, one of the most eccentric, bizarre, and influential personalities of the ecosystem, said his goodbyes to the physical world in a no less eccentric, bizarre, and controversial way: He committed suicide by hanging himself from a rope in his prison hours after learning that the Spanish justice system had approved his extradition to the United States.
The news was first announced by his lawyer and later confirmed by the government of Catalonia, the region of Spain where McAfee was imprisoned.
“Everything indicates that it could be a death by suicide.”
Immediately after the news broke, the Crypto Twitter community quickly shared their shock. Some paid respect, others criticized… and others questioned everything that happened.
The conspiracy was easy to imagine, given McAfee’s background. Several cryptocurrency influencers began trying to tie up loose ends to understad what happened. They relied on several tweets from McAfee claiming that he would never commit suicide, that he was being threatened, and that he knew some secrets that the elites needed to silence.
But something that blew everyone’s minds was a picture uploaded post-mortem to his official Instagram account. A black letter Q, presumably pointing to the QAnon movement, though without explanation.
QAnon, or simply Q, is a conspiracy movement that claims that a group of satanic pedophiles dominate government and media elites. Its followers claimed that former President Donald Trump was waging a battle to destroy this group.
The movement gained momentum with the arrest of Harvey Epstein on sex charges. The suspicious causes of his controversial suicide prior to his testimony further heightened suspicions that he had in fact been murdered in order to be silenced.
The slogan “Epstein didn’t kill himself” went viral and is still observed when references are made to corrupt government practices in the United States.
And, of course, McAfee had a thing or two to say about this. He pointed out to similarities between his case and Harvey Epstein’s in many times, and assured he had many secrets that the government wanted to hide. If his allegations are true, and the QAnon post means anything, we could soon find out what he knew.
For you panicked people involved, even peripherally in Epstein’s murder:
I do, absolutely, 1,000% have, not just a dead man switch, but a twice daily check in switch.
If you think you are fast enough to grab me, torture me and get what you need before it activates,
— John McAfee (@officialmcafee) January 16, 2020
“McAfee Didn’t Kill Himself”
A Twitter user attempted to contact the administrator of the controversial right-wing news site Zero Hedge and introduce him to a Spanish journalist who claims to have video recordings and reports that Joe Biden allegedly teamed up with the Prime Minister of Spain, Pedro Sanchez, to fake McAfee’s suicide.
— ブランスさん (@brunsjpnrmu) June 23, 2021
MMCrypto, a cryptocurrency trader, also questioned McAfee’s suicide. He shared a tweet from McAfee in which he assured that if he were to appear dead, it would not be by his own decision, and everything could be a set-up “a la Epstein.”
Podcaster Peter McCormack shared the ticker $WHACKD in reference to another McAfee tweet showing a tattoo as a reminder that he would never commit suicide despite threats from US Officials.
— Peter McCormack (@PeterMcCormack) June 23, 2021
Getting subtle messages from U.S. officials saying, in effect: “We’re coming for you McAfee! We’re going to kill yourself”. I got a tattoo today just in case. If I suicide myself, I didn’t. I was whackd. Check my right arm.$WHACKD available only on https://t.co/HdSEYi9krq🙂 pic.twitter.com/rJ0Vi2Hpjj
— John McAfee (@officialmcafee) November 30, 2019
Also, Kim Dotcom, the man behind Mega.nz and active Bitcoin Cash advocate, claimed to be working with McAfee on an initiative to fight government surveillance shortly before the tragic news.
John was a colorful guy. A pioneer in data security. I always thought he partied too hard, should have avoided the drugs and focus on using his brillant mind for good. When he had a sober mind it was all about freedom. That’s how I will remember him, a freedom fighter.
— Kim Dotcom (@KimDotcom) June 23, 2021
And finance lecturer Vladislav Ginko also shared several tweets warning about the danger of McAfee and his family suffering from deaths caused by USAMRIID, the Department of Defense’s (DoD) lead laboratory for medical, biological defense research.
So far, no official autopsy has indicated his cause of death. In the meantime, theories will continue to emerge. But if there is one thing that everyone – conspiracy theorists or not – can agree on, it is that John McAfee lived his own way until the end.
Owners Of South African Investment Platform Vanish, Alongside 3.6 Billion USD Worth Of Bitcoin
The owners of the South African crypto company AfriCrypt have reportedly vanished and took off with 69,000 BTC. Largest Exit Scam ever? In April 2021, the two brothers who co-own the investment firm AfriCrypt, turned to their users, stating that the platform has been hacked, leading to a damage of 69,000 BTC, which were worth […]
The post Owners Of South African Investment Platform Vanish, Alongside 3.6 Billion USD Worth Of Bitcoin appeared first on CryptoCoin.News.
The owners of the South African crypto company AfriCrypt have reportedly vanished and took off with 69,000 BTC.
Largest Exit Scam ever?
In April 2021, the two brothers who co-own the investment firm AfriCrypt, turned to their users, stating that the platform has been hacked, leading to a damage of 69,000 BTC, which were worth 3.6 billions USD at that time. This claim has since then lost most of its credibility, since the brothers cannot be reached anymore.
The South African law firm Hanekom Attorneys, who handle the case on behalf of the victims, believe the incident to be an exit scam, rather than a hack. By their account, employees of AfriCrypt had already lost access to the platform’s backend seven days before the alleged hack. The fact that the owners of AfriCrypt urged investors not to take legal action made the law firm even more suspicious. If proven true, this would make AfriCrypt the largest exit scam in history.
10% Daily Return too good to be true
Reportedly, AfriCrypt attracted new investors by promising them a whopping return of 10% on a daily basis. Additionally, the investment firm promised referral rewards for bringing in more customers. Unrealistically high returns like this should automatically make anyone suspicious, but greed and FOMO drive investors into the arms of fraudulent investment companies and crypto projects.
For the scammers, this is a highly profitable business model, as can be seen by the example of the TRON blockchain. Besides gambling, TRON is notorious for “high risk” investment platforms that typically promise daily returns on the same scale as AfriCrypt, but pull an exit scam shortly after their scheme has gained enough traction.
The success of these fraudulent schemes is a result of the huge influx of new and inexperienced investors over the last months. Just recently, the UK-based Financial Conduct Authority warned against unregulated crypto companies, which operate in a legal grey market.
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