Harry Markopolos: General Electric Is Heading For Bankruptcy

Bernie Madoff whistleblower Harry discusses his fraud allegations against Electric Company (NYSE:GE) with CNBC’s “Squawk on the Street”. He says the company’s finances are ‘unsustainable.’ Image source: YouTube Video Screenshot Madoff whistleblower Harry Markopolos: GE is heading for bankruptcy   Q2 hedge fund letters, conference, scoops etc Transcript You say in report […]
Source: bitcoinwarrior
Harry Markopolos: General Electric Is Heading For Bankruptcy

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NY Attorney General Argues Against Court’s Stay on iFinex Case

The defense layers earlier stated that they spent $500,000 looking for the documents asked by the prosecutor.
: financemagnates
NY Attorney General Argues Against Court’s Stay on iFinex Case

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Japanese General Trading Company Backs Blockchain Platform for Wind, Solar

Major trading Marubeni Corp. has backed WePower, a blockchain-based energy project


: cointelegraph
Japanese General Trading Company Backs Blockchain Platform for Wind, Solar

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NY attorney general reaffirms jurisdiction over iFinex, Bitfinex and Tether continued operations in New York until 2019

Recently released court filings from the New York General’s Office (NYAG) showed that Bitfinex and Tether both operated in New York from 2017 to early 2019, despite claiming had ceased all operations in the . As such, the NYAG likely has jurisdiction over iFinex allowing proceedings to continue.

Latest court filings accuse iFinex of lying

The case against iFinex, the parent company of Tether and Bitfinex, shows no signs of stopping. The company was accused by the New York Attorney General’s Office (NYAG) of conducting illegal operations in New York and having an unlawful relationship between its two legally distinct entities.

Originating back in April, when the NYAG filed an injunction against Bitfinex for using Tether’s reserves to cover its own $850 million loss, the case has now moved forward with new allegations. According to recently released filings from New York’s Supreme Court, iFinex allowed New York-based users to access its and utilize its services despite an explicit ban introduced back in 2015.

Bitfinex representatives argued that the exchange has no dealings whatsoever with customers based in New York and therefore shouldn’t comply with the city’s Martin Act, effectively hindering the Tether investigation on jurisdictional grounds. The act, introduced in 1922, allows the New York Attorney General expansive power in securities fraud investigations.

If iFinex was subject to the act, it would have to provide extensive documentation and could face steep fines for its unauthorized financial dealings between Bitfinex and Tether.

New evidence shows Bitfinex served New York customers

However, it looks like Bitfinex have a hard time refuting these allegations. The NYAG submitted a total of 28 pieces of evidence alongside its Memorandum of Law in Opposition, with each piece meant to paint a picture of a company heavily involved with New York-based entities.

“Even a cursory examination of the facts gathered to date in the OAG’ s investigation shows that Respondents have extensive and consistent contacts to New York concerning the matters under investigation,” the filing said.

The NYAG also said that it obtained additional evidence showing that Bitfinex has been available to traders based in New York as late as 2019.

Both Bitfinex and Tether also reportedly engaged with various other New York-based companies and opened a trading account with at least one New York-based “virtual currency firm.” Another piece of evidence also showed that the exchange was trying to onboard Mike Novogratz’s Digital as a customer.

Apart from that, the court filings also called out the company’s initial exchange offering (IEO) held in April, in which Bitfinex sold $1 billion worth of LEO tokens. The NYAG said that the IEO had every marking of a securities issuance, which makes it subject to the previously mentioned Martin Act.

The NY attorney general reaffirms jurisdiction over iFinex, Bitfinex and Tether continued operations in New York until 2019 appeared first on CryptoSlate.


Source: cryptoslate
NY attorney general reaffirms jurisdiction over iFinex, Bitfinex and Tether continued operations in New York until 2019

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Belarus General Prosecutor Warns About Cryptocurrency’s Use in Tax Evasion – Cointelegraph

Warns About Cryptocurrency’ Use in Tax Evasion&;nbsp;&;nbsp;CointelegraphBelarus’ general has raised concerns about the role cryptocurrency could be playing in tax evasion, local daily news outlet TUT.by reported on June …
: worldnewsoffice
Belarus General Prosecutor Warns About Cryptocurrency’s Use in Tax Evasion – Cointelegraph

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Introducing our General Crypto Investment Thesis

Introducing our General Crypto Investment Thesis

As the trusted cryptocurrency company, we are passionate about helping people navigate the seemingly complex world of digital assets. Today, we’re pleased to release our “Crypto Investment Thesis”, which outlines our view on why an ever growing number of people are choosing to use and own digital assets.

Why are we publishing an investment thesis?

Since Blockchain was founded in 2011,  bitcoin and other digital asset ownership has grown from thousands of pioneers to over 30 million people today. This phenomenal growth has significantly outpaced the internet’s growth rate (approximately 2x faster) and characterized by some regulators as a “miracle”.

While the rapidly expanding use of digital assets is undeniable, the reasons behind this growth are not necessarily widely understood or agreed on.

According to recent survey data from the Federal Reserve Bank of New York, the reason why more than ten million Americans own cryptoassets is because they are viewed as a “good investment”. However, the exact opposite reason was given by survey respondents on why the vast majority of Americans do not yet own cryptoassets (who view them as a “bad investment”).

But how can both of these views be correct?

The purpose of our investment thesis is to address these and other seemingly paradoxical questions we often hear about the ownership and use of cryptoassets. Addressing such questions is particularly important given the recent dramatic cryptoasset price action, which has once again brought the world’s attention back to bitcoin and cryptocurrencies.

What you will (and won’t) find in our investment thesis

We already cover the basics on what crypto is and how it works (e.., you can purchase less than a whole bitcoin; a bitcoin has eight decimal places) on Blockchain’s learning portal.

This thesis instead focuses on why you should consider owning cryptoassets.

While a number of excellent essays have previously been written making the case for crypto, to our knowledge this thesis represents the first comprehensive visualized thesis on the reasons why so many people are passionate (in both a positive and sense) about digital assets. We’ve worked hard to make our crypto investment thesis as accessible as possible without compromising on rigor, and sources are provided on each slide.

Introducing our General Crypto Investment Thesis

In this thesis we outline the wide range of ‘pull’ and ‘push’ factors driving growing use of cryptoassets, such as:

  • how cryptocurrency can be lower cost and more efficient in certain financial uses cases and contexts
  • the ‘digital gold’ thesis for bitcoin
  • why more and more people are being drawn towards trust-minimized financial assets and (what is often referred to as open/decentralized finance, or ‘DeFi’)

Introducing our General Crypto Investment Thesis

We also critically examine some of the frequent criticisms we hear about cryptoassets, such as:

  • in contrast with the internet, email, smartphones, social media, and other digital technologies, billions of people have yet to use or own cryptoassets. Are there compelling reasons to believe more and more people will soon own cryptoassets, and if yes, what obstacles still exist?
  • the subject of energy consumption estimates for the bitcoin network, which has received frequent coverage in the media. Where should those interested in this topic turn for the most reliable data and useful perspectives?
  • are cryptoassets indelibly tainted given their use by criminals?

From tens of millions of people to billions

Today, the vast majority of people are still unclear on why there is so much excitement over bitcoin and other cryptoassets.

Our investment thesis provides a comprehensive view on the reasons why tens of millions of people currently own cryptoassets. It also examines some of the remaining challenges to further expansion in the use and ownership of digital assets. All of the data and sources presented in the thesis are referenced so that readers can perform their own checks and follow-up for additional information.

Like all of our research, this publication is freely available to view or download on our Research page here.


Source: blockchain.
Introducing our General Crypto Investment Thesis

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Insurer L&G Uses Amazon Blockchain Service for Pension Deals

Legal &038 has turned to ’s services to launch what it claims is the blockchain system for bulk pension deals.
Source: cryptscout
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General Motors Leads $23M Funding Round for Spring Labs Blockchain Firm

n General Motors and Galaxy Digital a $23 funding for to improve its blockchain platformn
: cryptscout
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General Motors Leads $23M Funding Round for Spring Labs Blockchain Firm

and a $23 funding for Spring Labs to its blockchain platform


Source: cointelegraph
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