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ED’s Questioning to Raj Kundra for Bitcoin Scam Brings Out Other Celebrity Names

8Jun By Gauri SinghNo Comments

News

ED’s Questioning to Raj Kundra for Bitcoin Scam Brings Out Other Celebrity Names

Popular Bollywood actress Shilpa Shetty’s husband and businessman Raj Kundra was questioned by the Enforcement Directorate (ED) for eight hours Tuesday against being a witness in the act of concealing the origin of illegally obtained money related to the Rs 2,000 crore bitcoin scam in Maharashtra. Kundra was cited at the ED office in Mumbai in the morning and asked questions in this regard. The founder of GainBitcon, Amit Bhardwaj, who was the mastermind behind this fraud had earlier been arrested along with his brother Vivek in April for a criminal case under the Prevention of Money Laundering Act (PMLA) against cheating more than 8,000 people for Rs 2,000 crore. Kundra's name turned up in the report following alleged links with Bhardwaj. This isn’t the first time that Kundra has faced...

California Based Prominent Cryptocurrency Exchange Acquires Earn.com

17Apr By AnkitaNo Comments

ACQUISITION

California Based Prominent Cryptocurrency Exchange Acquires Earn.com

Prominent cryptocurrency exchange, Coinbase, in a deal worth more than USD 120 million, announced its significant plan to buy the United States startup that uses blockchain for its paid-email service, Earn.com. Coinbase also appointed Indian-American, Balaji Srinivasan, co-founder and CEO, Earn.com as its first CTO, TechCrunch reported. The rest of the team from Earn.com will also transition over. "With Coinbase's user base and distribution muscle, I think it could hit USD 100 million in accounting rate of return (ARR) in a few months. I'm proud of the fact that we turned what could have been a disaster into a successful product and I'm excited about the road ahead," TechCrunch quoted Balaji Srinivasan as saying. A Stanford graduate, who holds a BS, MS and Ph.D. in Electrical Engin...

Playboy Introduces Cryptocurrency Wallet For its Online Platforms

15Mar By PriyankaNo Comments

USA

Playboy Introduces Cryptocurrency Wallet For its Online Platforms

LOS ANGELES- The Playboy Enterprises Inc, popular as a Playboy magazine announced that the company added an additional service Vice Industry Token (VIT) for online payment. The service will support a number of cryptocurrencies payment across the company's online media, digital and casual gaming businesses. Playboy.TV will be the first of the company's media platforms to feature the new digital wallet which will enable the online platform to accept Vice Industry Token (VIT), among other leading cryptocurrency tokens, for access to the brand's exclusive content. By integrating with VIT, visitors will be able to pay and earn tokens to view Playboy.TV's original content, as well as comment on and vote for content. Reacting to the news, the Head of Operations for Playboy Enterprises, Inc,...

Know What is a ‘Ponzi Scheme’ and Who was the Man behind it?

12Feb By RishabhNo Comments

BLOGS

Know What is a ‘Ponzi Scheme’ and Who was the Man behind it?

In a recent interview, the World Bank Group President Jim Yong Kim compared Bitcoins to a "Ponzi Scheme" that once again triggered questions on the legitimacy of the world's most popular cryptocurrency. “In terms of using Bitcoin or some of the cryptocurrencies, we are also looking at it, but I’m told the vast majority of cryptocurrencies are basically Ponzi schemes. It's still not really clear how it's going to work,” he said in an interview. The cryptocurrency, that has been soaring since 2017, has seen not so great start in this year and had reduced to one-third of its peak value nearly in just two months. The World Bank is looking closely at the blockchain technology and hopes that it could be used by developing countries to "follow the money more effectively" and regulate co...

Are The Days of Bitcoin Over? Becomes One-Third In Less Than 2 Months

6Feb By RishabhNo Comments

ANALYSIS

Are The Days of Bitcoin Over? Becomes One-Third In Less Than 2 Months

Bitcoin has been tumbling since the past few, and it's been over 1.5 months that it last it's all time high. Bitcoin hit an all time high $19,343 in December 16, 2017 after which it fell and topped at $17,135 on January 6, 2018. Ever since then its has been falling and hit $6,083 by IST 10:36 am February 6, 2018. Investor firms think that it is the time that Bitcoin will have to settle after being too dynamic with its price. The downfall is amidst the raising worries about regulation on the ungoverned cryptocurrency. Even on Friday, Citigroup, JP Morgan Chase and Bank of America said that they will ban cryptocurrency purchase by their credit card customers. In India, at the time of Union Budget 2018 pre-poll the Finance Minister of India, Arun Jaitley said,"Cryptocurren...

Jaitley On Digital Currency, ‘Cryptocurrency Not A Legal Tender, Govt. will Discourage Its Use’

1Feb By RishabhNo Comments

News

Jaitley On Digital Currency, ‘Cryptocurrency Not A Legal Tender, Govt. will Discourage Its Use’

Government has considered regulation of cryptocurrency in budget 2018. In order to regulate cryptocurrencies like Bitcoin, Finance Minister of India, Arun Jaitley said that cryptocurrency is not a legal tender and Indian government will discourage its use. However, the government is open to the 'blockchain technology' on which these cryptocurrencies work. The government will also be planning a roadmap to put some regulation on the cryptocurrency market. The digital currency world is currently not monitored by any regulating authority. Since the past year, cryptocurrency market has gained huge numbers of investors who are willing to put some considerable amount in the sector. Although even before the budget release, Arun Jaitley said that cryptocurrency is not a legal tender, but ...

Apple Co-founder Steve Wozniak Sold All His Bitcoins

27Jan By RishabhNo Comments

News

Apple Co-founder Steve Wozniak Sold All His Bitcoins

In his recent conference at the Nordic Business Forum in Stockholm, the Apple Computer co-founder Steve Wozniak said that he has sold all his Bitcoins, that he once bought for $700. As per the price, he must have carried out the purchase either in June, or late October-early November of the year 2017. Although, he never revealed the quantity he purchased but he did say, "I remember getting interested in bitcoin some time ago. It was $70 for a bitcoin, man and I went online and you had to have a special bank account at a special bank and I couldn't buy any bitcoin so I gave up. Eventually I got some of them at the $700 stage and it went down to $350. I didn't invest, I did it so I could play with bitcoin," in an interview in June, 2017. He also said that he just wanted to experime...

India’s Top Banks Suspended All Leading Bitcoin Exchanges Bank Account

21Jan By AdityaNo Comments

News

India’s Top Banks Suspended All Leading Bitcoin Exchanges Bank Account

India's leading banks suspended some accounts of major Bitcoin exchanges in India. According to the sources, the reason of this move is suspicious transactions from exchanges side. Banks who suspend bitcoin transaction accounts are State Bank of India, Axis Bank, ICICI Bank, HDFC Bank and Yes Bank. The accounts of cryptocurrency exchanges/platforms in the country such as Zebpay, Unocoin, CoinSecure, BtcxIndia, among others are cancelled. These banks have also capped cash withdrawals for the few accounts which are operational, , the Economic Times reported citing multiple sources. Also no bitcoin exchanges reply on Pixr8's mail during the time of publishing the news. Queries sent to the banks taking the action also did not elicit any response. Eight accounts have likely been su...

2Jan By RishabhNo Comments

Tech

Not So Happy New Year For Bitcoin

The year 2018 seems "not" to be cryptocurrency friendly! Ever since the year 2015, it started the year by declining from its value, sliding from an all time high of $19,511, which it reached on December 18. The virtual coin fell to $13,624.56 as of 5 p.m. in New York on Monday, down 4.8 percent from Friday, according to data compiled by Bloomberg. That’s also a drop from the $14,156 it hit Sunday, according to coinmarketcap.com, which tracks daily prices. The cryptocurrency fluctuated in Asian trading on Tuesday, trading 1.9 percent lower as of 3:22 p.m. in Hong Kong. Compared to this, in 2017, Bitcoin started off around $1000 and gave returns of more than 1,300 percent. Ever since then it has ignited discussions among the economists and investor firms on Wall Street. The rally...

Ukraine Kidnappers Free Bitcoin Analyst After $1M Ransom Paid

30Dec By reutersNo Comments

News

Ukraine Kidnappers Free Bitcoin Analyst After $1M Ransom Paid

Kidnappers in Ukraine have released an employee at a United Kingdom-registered cryptocurrency exchange after getting more than $1 million in bitcoins as ransom, an adviser to the Ukrainian interior minister told Reuters on Friday. Pavel Lerner, a leading analyst and blockchain expert, was abducted by unknown masked people on Dec. 26, according to a statement by his company, EXMO Finance, on its website. “This is the first such case in Ukraine linked to bitcoins,” Anton Gerashchenko, an adviser to Interior Minister Arsen Avakov, said in a phone text message. It was unclear who paid the ransom. Lerner’s work at EXMO did not involve access to the financial assets of its users, the company said, adding that the platform was operating normally. “At the moment, he is safe, and ther...

Bitcoin Further Falls Below $13,000 Investors Sweat

22Dec By PriyankaNo Comments

News

Bitcoin Further Falls Below $13,000 Investors Sweat

Bitcoin dipped further 21 percent on Friday, adding up to its loss towards 40 percent, the investors look worried. The world's most popular cryptocurrency dropped to $12,191.80 before trading at $12,975.50 as of 3:47 p.m. in Hong Kong. The Bitcoin has been tumbling from its peak of $19,511, but still 1100% of what it started at the year start. Other cryptocurrencies also plunged, with bitcoin cash crashing 38 percent and ethereum losing 26 percent over the past 24 hours, according to coinmarketcap.com. Investors are having a "reality check," said Stephen Innes, head of trading for Asia Pacific at Oanda Corp. "At the heart of the matter was a frenzied demand for coins with limited supply has now led to unsophisticated investors holding the bag at the top." The plunge comes amid gro...

Bitcoin Extends Losses, Slips Below $14,000 On Bitstamp Exchange

22Dec By reutersNo Comments

News

Bitcoin Extends Losses, Slips Below $14,000 On Bitstamp Exchange

Bitcoin fell more than 10 percent to below $14,000 on the Bitstamp exchange on Friday, extending overnight losses. It was last down 11 percent at $13,872. The cryptocurrency, which was at about $1,000 at the year’s start, had climbed to a record high of $19,666 on Sunday in lead up to exchange giant CME Group’s launch of bitcoin futures before losing steam. Bitcoin is known to go through wild swings. In November, it tumbled almost 30 percent in four days from $7,888 to $5,555. In September, it fell 40 percent from $4,979 to $2,972.