These Websites Help You Shop With Major Retailers Using Cryptocurrency

Cryptocurrency users are often forced to convert their coins to fiat in order to purchase items from leading retailers and ecommerce platforms such as Walmart and Home Depot, Amazon, Aliexpress, and Ebay. The hesitation of merchants to embrace crypt
Source: devcoins
These Websites Help You Shop With Major Retailers Using Cryptocurrency

Related posts

QuadrigaCX Update: ‘Dead’ CEO Cotten Embezzled Funds For Years

QuadrigaCX

 The latest court-ordered report into the scandal arrived yesterday with some pretty damning claims of fraudulent activity. include founder and , Gerald Cotten, embezzling customer funds to margin trade (badly) on other exchanges for years.


Another Fine Mess

The cryptocurrency landscape is no stranger to misdeeds, transgressions, and scandal. But even amongst this backdrop, the QuadrigaCX story stands out as something exceptional.

What looked to be building towards a standard exit scam, got flipped upside down in mid-January this year. QuadrigaCX announced the ‘sudden passing’ of founder, CEO, and ‘visionary leader’, Gerald Cotten in India… over a month previously.

Oh, and by the way, he was the only one with access to the private keys of the cold wallets.

Even as the company received a temporary reprieve from creditors, many were questioning the legitimacy of the story.

Their First Mistake

Court-appointed monitor, Ernst and Young, published its fifth report yesterday, revealing some disturbing truths about the running of the business.

In terms of company infrastructure, there was virtually none, with activity largely directed solely by Cotten. Separation of duties and basic internal controls was non-existent, as was segregation of QuadrigaCX funds and Client funds.

There were no accounting records, and Cotten himself decreed that administrator activities would not be logged.

Come Clean

This allowed Cotten to create fake accounts, and credit them with hundreds of millions of dollars of fiat and crypto. He then traded this with real crypto from other users and transferred it off the QuadrigaCX exchange.

The majority of this went to accounts in Cotten’s name on other exchanges. Between 2016 and 2019, Cotten transferred almost 10,000 , 390,000 ETH, and 240,000 LTC out of QuadrigaCX. So what did he do with this money?

Much was margin traded, with all the due care and attention that one might expect from someone gambling with other people’s money. He ran substantial losses and his margin was liquidated.

Another (unnamed) exchange received 21,501 BTC in an account under Cotten’s name. All but 8 BTC of this was liquidated for the equivalent of around $80 million over three years. The whereabouts of this $80 million is unknown.

The Finishing Touch

Cotten and his ‘widow’, Jennifer Robertson, also received significant fiat transfers from Quadriga over the years. Obviously, also unaccounted for.

Their assets, including real estate, private aircraft and yachts, luxury cars and precious metals, are subject to a preservation order. The monitor intends to recover and liquidate these assets for the benefit of creditors.

This however, when added to the assets already recovered, still leaves a shortfall of around CAD$170 million.

The final act of this saga (which would come as no surprise to anyone at this stage), must surely be Cotten turning up alive and well (or just as possibly ) on a tropical beach somewhere.

Okay, so maybe our collective imagination is getting away from us, but it seems like a better bet than leaving your money on an exchange like QuadrigaCX.

What do you make of these recent findings? us know in the comment section below!


Images courtesy of Shutterstock, Reddit.

The post QuadrigaCX Update: ‘Dead’ CEO Cotten Embezzled Funds For Years appeared first on Bitcoinist.com.


Source: bitcoinist
QuadrigaCX Update: ‘Dead’ CEO Cotten Embezzled Funds For Years

Related posts

Toy Story: How Buzz Lightyear keeps making millions

When the new Toy Story film opens on Friday, it is not just cinemas that be hoping for a boost from sales.
Source: BBC – Business
Toy Story: How Buzz Lightyear keeps making millions

Related posts

Dixons Carphone shares plunge on mobile phone woes

The retailer says its UK mobile business be “significantly loss-making” this year.
Source: BBC – Business
Dixons Carphone shares plunge on mobile phone woes

Related posts

Bitcoin YTD Gains At 151% So Far, New Increases Are Likely

bitcoin ytd gains


(function ($) {
var bsaProContainer = $(‘.bsaProContainer-6’);
var number_show_ads = “0”;
var number_hide_ads = “0”;
if ( number_show_ads > 0 ) {
setTimeout(function () { bsaProContainer.fadeIn(); }, number_show_ads * 1000);
}
if ( number_hide_ads > 0 ) {
setTimeout(function () { bsaProContainer.fadeOut(); }, number_hide_ads * 1000);
}
})(jQuery);

The year-to-date for () as the most dominant cryptocurrency out there are on the rise, the latest cryptocurrency news show. In fact, the Bitcoin gains are now at more than 151% against the US dollar at $9,300, surpassing a lot of assets and stock indices such as Nasdaq 100 and S&P 500 with ease in its six-month performance.

With the block reward halving of Bitcoin which is on the horizon soon – as well as the inflow of institutional capital that is still on the rise – the sentiment around the Bitcoin YTD gains and the overall crypto market remains positive.

Libra, which is the cryptocurrency asset developed by the Libra Association (a consortium based in Switzerland) founded by major conglomerates such as Facebook, Visa, Mastercard, Lyft, Uber, Booking Holdings and more, all dominating the headlines in the financial sector over the past two days.

A lot of analysts are in the altcoin news for suggesting that the release of Libra, which is planned for 2020, may lead to a decline in demand for existing crypto assets such as Bitcoin and Ether, which is the native cryptocurrency of Ethereum. Still, industry executives and traders believe that the Bitcoin YTD gains could extend mainly because of Libra and its catalyst to boost mainstream interest towards the asset class.

The of DCG, Barry Silbert, recently noted:

“The launch of Facebook’s cryptocurrency go down in history as the catalyst that propelled digital assets (including bitcoin) to mass global consumer adoption. be remembered as just as important — and transformative — as the launch of the Netscape browser. Buckle .”

Another crypto trader and real estate developer known as Satoshi Flipper noted that Libra will not replace Bitcoin nor compete against it in the same market.

“Once Libra goes live, nobody outside of the Facebook platform will care much for it. It’s another stable coin and it’s not replacing BTC. It will work in a centralized ecosystem. But it will bring awareness to BTC and altcoins. And I’m excited about the network effect it will have,” he said.

One of the Winklevoss twins, Tyler Winklevoss, has also predicted a Bitcoin YTD gains, stating the possibility for Bitcoin to break through even more in the near future.

His statement went viral on many best cryptocurrency news sites.

The post Bitcoin YTD Gains At 151% So Far, New Increases Are Likely appeared first on DC Forecasts – Leading Digital Currencies.


Source: dcforecasts
Bitcoin YTD Gains At 151% So Far, New Increases Are Likely

Related posts

Will BitMEX CEO Arthur Hayes debate Bitcoin skeptic Nouriel Roubini?

The 2019 Asia Blockchain Summit could be preparing to host a debate between BitMEX Arthur Hayes and crypto-skeptic Nouriel Roubini.

Hayes vs. Nouriel

The Asia Blockchain Summit is considered the biggest blockchain event in Asia, and this year it take place in Taipei, Taiwan, from July 2nd to 3rd. The event awaits to bring more than 5,000 blockchain industry elites and over 300 top global companies.

In a recent tweet that was later deleted, the Asia Blockchain Summit announced that during the event it will host a debate, named the “Cryptocurrency Duel,” between Arthur Hayes, the CEO of BitMEX, and Nouriel Roubini, an economist who is considered one of the biggest crypto critics.

In a response tweet that was since deleted, Hayes expressed that he is ready to “wipe the floor” with the American economist.

Although Nouriel Roubini did not respond to Hayes’ claims, he is well known for discrediting cryptocurrencies, previously calling them the “mother or father of all scams and bubbles.”

Roubini was able to win a similar debate that happened last year against Bitcoin advocate and former VP at JPMorgan Chase Tone Vays.

During the debate hosted by the Block Show, Nouriel Roubini said:

“The data suggests that 81 percent [of all cryptocurrencies] are a scam, another 11 percent have essentially failed, and the remaining 8 percent have lost 90 percent of their value. I believe that 99.99 percent of all cryptocurrencies are going to fail, and may be a few years from now there will only be .”

It is unknown why the Asia Blockchain Summit deleted the tweet about the debate, but if confirmed it will certainly be worth watching.

CryptoSlate reached out to the organizers of the Asia Blockchain Summit, Arthur Hayes, and Nouriel Roubini to confirm the validity of the debate and has yet to receive an answer.

The post Will BitMEX CEO Arthur Hayes debate Bitcoin skeptic Nouriel Roubini? appeared first on CryptoSlate.


Source: cryptoslate
Will BitMEX CEO Arthur Hayes debate Bitcoin skeptic Nouriel Roubini?

Related posts

Time to Chain Up: Is Blockchain About to Change the Gaming Industry?

More gaming companies like Ubisoft are beginning to utilize blockchain. Do industries have a shared future?


Source: cointelegraph
Time to Chain Up: Is Blockchain About to Change the Gaming Industry?

Related posts

Peaceful Warrior Lets You Buy Jewelry With Bitcoin Cash

Do you want to show off your support for cryptocurrency and look good doing it? you buy jewelry that do just that, and you can also pay for all items in the store with cash, of course.

 

Crypto Lifestyle Brand

Crypto-friendly e-commerce platform Peaceful Warrior was launched in March 2019 with the aim of inspiring people to use digital coins for shopping and in order to “ achieve global adoption of cryptocurrencies, used as a mean of exchange.” It is designed to be a lifestyle brand that shows you are dedicated to promoting freedom.

The store features jewelry items such as unique necklaces and bracelets, specialty beauty and care products as well as art celebrating women and crypto. It is integrated with Coinbase Commerce, so you will be able to pay with your bitcoin cash (BCH) and a number of other cryptocurrencies as well as Paypal.

Peaceful Warrior Lets You Buy Jewelry With Bitcoin Cash
Earrings sold on Peaceful Warrior

The platform was established by “three passionate women who care about free economy, crypto and living beautiful and balanced lifestyles.” The founders explain they wanted to not only create a place for people to enjoy shopping but also help entrepreneurs interested in accepting cryptocurrency sell their products around the world.


Source: cryptoassethome
Peaceful Warrior Lets You Buy Jewelry With Bitcoin Cash

Related posts

Music producer dies in fall from building

French electronic music pioneer Philippe “Zdar” Cerboneschi died Wednesday in an accidental fall from a building in Paris.
Source: CNN – Top Stories
Music producer dies in fall from building

Related posts

Bitcoin (BTC) Above $9,000 And It’s All Institutions Now

Bitcoin BTC Institutional

The value of the has surged forward once more establishing a new year high the $9,000 mark at the back of increasing institutional interest. With it, the market cap has enlarged to highs of $165 billion at the of writing. In comparison, at its 2017 peak, the market cap was above $327 billion.

Traders are also having a field day
since its volatility has quadrupled giving those out for a highly volatile
asset some reprieve. With all vibes, Bitcoin is one of the best performers
of all major asset classes in 2019.

Accompanying this, Nikolaos
Panigirtzoglou from J.P Morgan notes that the trading volumes have seen a sharp
increase over the last few months. The figures have risen from April’s $445
billion to $775 billion in May.

In contrast, the BTC December 2017
peak volumes were $420 billion. Right now, the big three cryptos BTC, XRP and
ETH have a combined $1 trillion volume signaling to the growing increase of
interest in crypto trading.

Bitcoin (BTC) Reality According to Real Market Data

Bitwise Asset Management has in the past has released a report that suggests that most crypto trading volumes data are faked. In their Bitcoin ETF application to the SEC, the crypto asset manager showed that genuine trading volumes were just around 5 percent of the reported data. The Blockchain Transparency Institute has also done market surveillance that shows that in April 2019, for instance, only 1 percent of the published volume from some exchanges could be regarded as factual.

Going by these estimates, therefore, as per data availed, actual trading volumes of BTC in May 2019, was around the $36 billion mark. Besides this, data also shows that the amounts of spot BTC futures share are on the rise too. The CME futures contracts averaged around the $12 billion volume mark.

Factors Behind the Recent Bitcoin (BTC) Price Surge

Pundits believe that part of the current Bitcoin surge has been fueled by first of all an enhanced view of crypto. The sentiment so far has been positive, especially since the age of scam ICOs and massive exchange hacks has all but passed by. There are also increasing trade wars escalated by geopolitical risks, the major one being between the US and China. Consequently, most investors are moving their assets to BTC, a borderless decentralized store of value.

Besides, Facebook’s Libra has been
unveiled and be launched in 2020. 
The social media giant’s token is backed by a multitude of companies,
and its enthusiasts predict that it will enhance crypto mass adoption.

Spencer Bogart, for instance of
Blockchain Capital, says that the stablecoin is the one of the most “bullish
external tailwinds” of the year for BTC. He reasons that the token will
make it much easier for larger populations to procure crypto through the
creation of a circular economy. The upcoming 2020 bitcoin halving is another
positive influence.

JP Morgan Chase & Co, however, says that the Bitcoin futures data is very critical for the crypto market.  Their aggregate volume now rests at $12 billion from April’s $5.5 billion and a $1.8 billion in the first quarter of 2019.

Panigirtzoglou aptly says:

 “The overstatement of trading volumes by cryptocurrency exchanges, and by implication, the understatement of the importance of listed futures, suggests that market structure has likely changed considerably since the previous spike in Bitcoin prices in end-2017 with a greater influence from institutional investors.”

The BTC market has now, accordingly,
moved from the retail-driven market of 2017. It is now rising due to
institutional buying, which in the end will give the token more stability.