A Nigerian court has convicted and sentenced a man to one year in prison who is accused of duping an unsuspecting cryptocurrency investor. On its charge sheet, the prosecution said that the man had contravened Nigeria’s anti-fraud laws and hence should be punished accordingly. Fake Cryptocurrency Investment Scheme A court in Nigeria has convicted a
Bitcoin News
The blockchain industry’s impact on the energy sector has been a major source of controversy over the past five years. Governments and environmental protection advocates have routinely expressed concerns about the amount of energy required to keep the Bitcoin network secure. Data shows the network’s energy consumption now rivals the yearly energy consumed by some
Another day, another environmental attack on proof-of-work (PoW) mining. A report shared by the Swedish central bank argued that energy-intensive Bitcoin (BTC) and cryptocurrency mining should be banned. The Swedish central bank, known as the Riksbank, is the oldest central bank in the world. In a damning report entitled, “Cryptocurrencies and their impact on financial stability,” the
Ten days into June, bitcoin continues to trade lower, with prices hovering close to a twelve-month low. Despite this, there continues to be optimism around potential rallies in price over the next few weeks. Overall, there is still a lot of uncertainty in the market, with the potential for either bullish or bearish runs in
The ever-raging debate around Bitcoin’s energy consumption has been re-ignited, with founding member of Ethereum Anthony Donofrio claiming that Bitcoin is using “way too much” energy. According to figures from Digiconomist, Bitcoin (BTC) currently uses 0.82% of the world’s power while Ethereum (ETH) uses 0.34%. Ethereum researcher Justin Drake posted the figures to his 56,000
The San Diego-based cryptocurrency firm Edge has announced the launch of a confidential crypto Mastercard that doesn’t collect KYC data and doesn’t charge transaction fees. Edge’s website notes that there’s “no name or address associated with [the] Edge Mastercard” giving privacy advocates peace of mind. Edge Reveals Privacy-Centric Crypto Mastercard The digital currency firm Edge
On a sun-splashed day in the Swiss Alps, the chief technology officer of Bitfinex and Tether, Paolo Ardoino, shed light on the Plan B Lugano strategy, Tether as an onramp into Bitcoin (BTC) and —crucially — his favorite pizza toppings. Fresh off the plane from Norway, where Ardoino attended an increasingly Bitcoiner-friendly event, the Oslo
Bitcoin (BTC) briefly broke above $32,000 on May 31, but the excitement lasted less than four hours after the resistance level proved to be tougher than expected. The $32,300 level represented a 20% increase from the May 12 swing low at $27,000 and it provided the necessary hope for bulls to buy some $34,000 and
Since May 10, the Bitcoin (BTC) chart shows a relatively tight range of price movement and the cryptocurrency has failed to break the $32,000 resistance on multiple occasions. BTC-USD 12-hour price at Coinbase. Source: TradingView The choppy trading partially reflects the uncertainty of the stock market as the S&P 500 Index ranged from 3,900 to
A Brazilian judge has ruled that the CEO of Mirror Trading International should remain in precautionary detention as authorities in South Africa have already furnished their Brazilian counterparts with the documentation that is required for extradition purposes. The judge also rejected Johann Steynberg’s attempts to use his Brazilian family as the basis for seeking an
Co-founder and chief evangelist officer for Codex, Alex Gordon-Brander, spoke to Cointelegraph about his Bitcoin story, the real-world use cases for crypto, and the economic downturn during a World Economic Forum interview in Davos, Switzerland. Standing curbside in front of Davos’ “Crypto House” at dusk, where Gordon-Brander had just finished demonstrating Codex’s capabilities during a
Bitcoin moved away from Tuesday’s lows during the hump-day session, as prices were once again above $30,000. Prices have been hovering above and below this level over the last few weeks, with no significant gains in the period. ETH was also marginally higher. Bitcoin The volatility in crypto markets was once again present during Wednesday’s
Bitcoin (BTC) showed strength at the June 8 Wall Street open as impatient traders waited for a trend to emerge. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin still in “no trade zone” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD jumping to near $30,850 after the opening bell, helping claw back some of the
Grayscale Investments has hired a former U.S. Solicitor General in preparation for a potential legal spat with the U.S. Securities and Exchange Commission (SEC), should the regulator reject its application for a spot Bitcoin (BTC) exchange-traded fund (ETF) on July 6. The company has been waiting on a decision from the SEC to convert its
Bitcoin’s (BTC) short-term price action has been dominated by whipsaws that trigger around the $31,000 to $32,000 level and the June 6 reversal at this point triggered a quick sell-off that pushed the price down to $29,200. Surprisingly, on June 7, the price rapidly reversed course as Bitcoin rallied back to $31,500, but given the
The Brazilian central bank digital currency (CBDC), the digital real, will be more of a wholesale asset instead of a public retail-focused token, according to statements from the president of the Central Bank of Brazil, Roberto Campos Neto. Campos Neto indicated that private banks in the country will be able to issue their own stablecoins