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Author: StanNordFX   |   Latest post: Wed, 24 Feb 2021, 9:28 AM

 

CryptoNews of the Week

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- Forbes compiled a list of the wealthiest representatives of business in the field of cryptocurrency, following the results of 2020. It is headed by the CEO of the Coinbase crypto-exchange Brian Armstrong with $6.5 billion, followed by the head of the FTX cryptocurrency exchange Sam Bankman-Freed with $4.5 billion and the co-founder of Ripple Chris Larsen - $2.9 billion.
The ranking also includes: the head of MicroStrategy Michael Saylor - $ 2 billion, CEO of the Binance exchange Changpeng "CZ" Zhao - $1.9 billion, the founders of the Gemini exchange, the Winklevoss brothers - $1.6 billion each, founder of the venture capital company Digital Currency Group Barry Silbert - $1.5 billion , co-founder and former CTO of Ripple Jed McCaleb - $1.4 billion, venture capitalist Tim Draper - $1.1 billion and co-founder of blockchain startup Bloq Matthew Roszak - $1 billion.
When preparing the rating, the Forbes magazine took into account not only the value of the digital assets of the persons involved, but also their traditional assets, including the shares of various companies.

- According to Reuters, the German prosecutor's office is unable to access a wallet with more than 1,700 bitcoins with a total value of about $75 million. The account holder, who was found to be a fraud, refuses to testify against himself and provide access keys. Currently, law enforcement officers are looking for ways to "get close" to these assets through exchanges and wallet operators in order to return them to the victims of the criminal.
The fraudster was sentenced to two years in prison for installing phishing software on third-party computers, with which he deducted funds from the victims' accounts and transferred them to his own wallet. The prosecutor explained that the offender was offered mitigation of punishment if he provided data on the whereabouts of the coins, but he refused. The size of the criminal's assets has significantly increased against the background of the latest bitcoin rally, and it is possible that he is going to use them after his release.

- American children's charity Songs of Love created Superhero Billy Bitcoin to boost interest in their work. Crypto donations to such non-profit organizations in the United States are tax-free. “Donating in a cryptocurrency like bitcoin is even more efficient than cash. You don't have to pay capital gains tax and can deduct that amount from your taxes,” said Songs of Love. The fund accepts donations in 22 digital assets, and the Superhero Billy Bitcoin is dedicated to supporting children with serious illnesses.

- The price of bitcoin could rise to $100,000 as early as the end of 2021 if other companies follow Tesla's lead, the founder of cryptobank Galaxy Digital Mike Novogratz said in an interview to Bloomberg . Elon Musk's company announced the investment of $1.5 billion in Bitcoin on Monday, February 8. Tesla admitted that in the future they will integrate the first cryptocurrency as a means of payment for their products.
Novogratz called Elon Musk a genius in his decision to listen to people and evaluate the interests of young people. According to the billionaire, other companies will invest in the first cryptocurrency to hedge inflation risks. “You'll see that every company in America will soon start doing the same,” stated Mike Novogratz.

- Due to the shortage of discrete graphics cards in the market, gaming laptops have become popular among Chinese Ethereum miners. As calculated by the Techarp portal, the payback period for such a computer costing from $1000 is approximately three and a half months.
One laptop with a RTX 3060 video card is able to get 0.00053 ETH ($0.92 at the moment) within two hours. That is, the mining will amount to 2.3 ETH (over $4000) for the year, and a farm of 20 laptops at current prices and taking into account the cost of electricity in China will bring more than $76,800 in profit.

- North Korea has been able to upgrade its nuclear weapons and ballistic missiles by using funds stolen in cyberattacks, to finance. According to the Associated Press citing UN experts, these attacks mainly targeted financial institutions and cryptocurrency platforms, and the total amount of the digital assets stolen in the period from 2019 to November 2020 is more than $316 million. Experts say North Korea continues to launder cryptocurrencies stolen by its hackers mostly through Chinese over-the-counter platforms.

- The authorities arrested a 37-year-old Wisconsin resident on charges of attempting to arrange a bespoke homicide. This is stated in the message of the US Department of Justice. The woman found the killer on the darknet, offering to pay for his "work" in cryptocurrency, and provided him with a phone number, place of work and a description of the alleged victim.
Journalists of one of the media learned about the upcoming crime while working on material about transactions in the darknet. They found evidence of a Bitcoin transaction, as well as a screenshot of a wallet with $5,633 in cryptocurrency, after which the reporters contacted the law enforcement. Now the alleged customer faces up to 10 years in prison.

- One of Mexico's richest people (the fortune of $11.7 billion) and founder of Grupo Salinas group of companies Ricardo Salinas Pliego added a Bitcoin hashtag to his Twitter account description. Recall that the founder of Tesla and SpaceX Elon Musk did the same in January, after which the asset rose to $38,000.
Earlier Pliego admitted in a Cointelegraph commentary that he first bought digital gold in 2013. He sold the asset at $17,000 during a bull rally in 2017 and called the bitcoin “the best investment of all time.”

- Specialists of financial and investment company Guggenheim Partners said that the value of bitcoin could reach $600,000. According to the company's investment director, Scott Minerd, everything will depend on the number of coins in the public domain. “Cryptocurrency can rise to very high values. It is possible that we are talking about 400 or even $600,000 per coin. We have been studying the asset for almost ten years, so we understand how it will behave. Bitcoin used to be unjustified for institutional investors, but now everything has changed,” Minerd said.
According to the specialist, the concern is caused by the rapid growth of the asset in the past few weeks. It is possible that we are talking about speculation, in which institutional investors capable of large investments to manage the value of the coin are involved. At present, bitcoin is in a difficult situation, as the departure of large investors will lead to a return of the negative trend. According to Minerd, such a development is unlikely, but it should definitely be taken into account.


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