Connect with us

Blockchain

Bitcoin News Roundup for Jan. 12, 2021

Avatar

Published

on

With BTC regaining lost ground and a special feature on what long-timers in the crypto industry think about this year’s rally, CoinDesk’s Market’s Daily is back with the latest crypto news roundup.

Add Markets Daily to your Alexa Flash Briefing here.

This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.

Some bitcoin traders are buying bullish call options at $52,000 and higher strike prices.

Trump, COVID-19, massive money printing. Voorhees, Shrem, Wan, Carlson and others on bitcoin’s big boom, and what changed from 2017.

Source: https://www.coindesk.com/podcasts/markets-daily/bitcoin-news-roundup-jan-12-2021

Blockchain

Coinsbit Has Launched A Unique Bitcoin Staking Pool With A Super High Rate As It Marks Its 3rd Anniversary

Avatar

Published

on

Advertisement

To celebrate the exchange’s 3rd anniversary, the Coinsbit team has announced a range of exclusive promotions to thank users for their loyalty and trust. As one of the key activities scheduled for the celebration, the team plans to award 30 bitcoins to lucky participants. Nothing like this has ever been done in the history of cryptocurrency, so this is a once-in-a-lifetime opportunity.

The promotion kicked off on March 1 and will continue for the next three months. The team has particularly opened a Bitcoin Staking pool at 3% per month. It is a safe and proven means that will allow bitcoin holders to increase their balance without the volatility of the market.

Additionally, users will have the opportunity to earn more during the 15 mini-IEOs that are scheduled. Given that participants in previous IEOs held on the exchange saw considerable gains on their investment, it is a real opportunity for everyone to grow their capital. Prospective participants should follow the official social media accounts of the exchange to get all the latest information regarding this exclusive offer.

But that’s not all. As you are well informed, the exchange has its marketplace named Coinsbit Store. In this marketplace, you can purchase different devices, like smartphones, headphones, tablets, laptops and more using cryptocurrencies. You can also transact with just a click from any part of the world on suitable terms. So, as part of the commemoration of the 3rd anniversary, the exchange team promises explicit bonuses to whosoever participates and buys the most on the Store. For example, you can win holiday vacation to the Maldives, an iPhone 12 Max Pro and MacBook Pro.

Also, the representatives of the exchange were happy to announce the opening of BTCU trading. Trading will start at the beginning of May. Other popular cryptocurrency exchanges like Liquid, Probit, Yobit, Biki, P2Pb2b, LocalTrade, Folgory, Bitforex, BiOne and LBank have also listed the coin.

That’s not the end, the decentralized cryptocurrency trading platform (DEX) Coinsbit will be initiated soon. On this new platform, you can make transactions without you becoming a member. Users simply need to synchronize their crypto wallet and start trading.

#bitcoin #exchange

Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://bitcoinist.com/coinsbit-has-launched-a-unique-bitcoin-staking-pool/?utm_source=rss&utm_medium=rss&utm_campaign=coinsbit-has-launched-a-unique-bitcoin-staking-pool

Continue Reading

Blockchain

Centra Tech Founder Sentenced to 8-years in Prison For $36M Crypto ICO Fraud

Avatar

Published

on

advertisement

FBC13


Sohrab “Sam” Sharma, the founder of defunct cryptocurrency firm Centra Tech was sentenced to 8-years in prison for duping investors out of $36 million. The firm had hired high-profile celebrities including Floyd Mayweather and DJ Khaled whom the firm paid for promotions to lure more investors. Sharma pled guilty to conspiring to commit securities fraud, wire fraud, and mail fraud as part of an initial coin offering.

Advertisement

Nexo

Centra Tech was one of the many crypto companies to lure heavy investment during the 2017-18 ICO frenzy on the pretext of launching a cryptocurrency in the near future. Sharma along with two of his recruits managed to raise nearly $25 million through social media promotions and mentions from high-profile celebrities. Both Khaled and Mayweather later settled with the SEC for failing to disclose they have been paid to promote the project.

While prosecutors sought 14-15 years jail term for the founder, Sharma’s counsel pleaded for a two and a half year term claiming the defendant was not the evil behind the fraud.

Sharma said,

“I am deeply sorry and devastated for what my actions have done to those who believed in me and my vision. I wanted to fake it till I made it, and I was hoping that the ends justified the means.”

As per the plea deal, Sharma forfeited 100,000 ETH raised from the sale of the digital token of his company.

Advertisement

Cryptocoincoach

Centra Tech Reflects Everything Wrong With ICO Era

The hype around cryptocurrencies in 2017 gave rise to Initial Coin Offering (ICOs) and an easy way of raising funds to develop and launch new crypto tokens. In what many called a revolution in fundraising soon turned into a playground for fraudsters and scams. It was estimated more than 90% of the projects were either scams or never made it to any exchange for one reason or the other.

Centra Tech was no different, where the project was misleading investors on nearly every aspect right from claiming that it is being headed by a Harvard-educated chief executive officer with decades of business experience. Sharma also lied about having operational licenses in more than three dozens states and partnerships with payment processing giants such as Visa and Mastercard.

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

PrimeXBT

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://coingape.com/centra-tech-founder-sentenced-to-8-years-in-prison-for-36m-crypto-ico-fraud/

Continue Reading

Blockchain

Coinbase Registers Second 12K Bitcoin (BTC) Outflow In A Week, U.S. Institutional Buyers Holding Strongly

Avatar

Published

on

advertisement

FBC13


In a broader cryptocurrency market correction, the Bitcoin (BTC) price has tanked 6% today slipping below $47,000. As of press time, BTC is trading at a rate of $46,784 with a market cap of $875 billion. The latest Bitcoin price correction comes amid the drying up of trading volumes.

Advertisement

Nexo

However, it turns out that institutional players, especially from the U.S, have been scooping a huge amount of Bitcoins at every correction. As per the latest update from CryptoQuant CEO Ki-Young Ju, a second major Bitcoin-outflow of 12K Bitcoins recently took place at the Coinbase exchange. The first one happened earlier this week three days back on March 3.

As Coingape reported, the Bitcoin whales have been accumulating BTC even when the price dropped $44,000 levels ahead this week. But it seems that the whales are majorly coming this time from the U.S. Over the last year, it seems that Asian whales have been losing all their supplies to the U.S. institutions and corporates who have gone currently on an accumulation spree.

As reported by Chinese reporter Wu Blockchain:

“In the past year, the BTC holdings in Asia have fallen more than 400,000, and the BTC holdings in North America (represented by US) have increased by more than 600,000. This prove again that Chinese holds are selling and American institutions are buying”.

Courtesy: Grayscale, Chainalysis

U.S. Institutions Haven’t Sold Any Bitcoin

The U.S. institutions have been buying Bitcoins heavily since the beginning of 2021. While Bitcoin has gone through several cycles of surge and drop, over the last two months. However, Ki-Young Ju presents another interesting piece of data showing that U.S. institutions haven’t sold a dime since December 23. He writes:

“It seems most US institutions haven’t sold any Bitcoin since their OTC deals. For example, here are custody wallets from Coinbase outflows on Dec 23, 2020. No $BTC moved since then. Remember, institutions like @tesla are with us”.

U.S. bulls are buying aggressively in this market and continue with their purchases ahead. Grayscale has added over 50,000 Bitcoins this year for its Bitcoin Trust (GBTC). Another bullish indicator is that the Network Realized Profit or Loss (NPL) for Bitcoin is at its lowest point.

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

PrimeXBT

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Source: https://coingape.com/coinbase-registers-second-12k-bitcoin-btc-outflow-in-a-week-u-s-institutional-buyers-holding-strongly/

Continue Reading
Blockchain2 days ago

Ethereum’s Top 10 Whale Addresses Add 1 Million ETH In A Day, Evolve Files for Ether ETF

Blockchain3 days ago

Alt Season 2.0: Analyst Claims It’s “Showtime” For Ethereum

Blockchain3 days ago

OCEAN and EWT trading starts March 3 – Deposit Now

Blockchain3 days ago

Multiple assets can ‘behave like ADA’ through Cardano’s Mary upgrade

Blockchain3 days ago

Chainlink may surpass Bitcoin, reports

Blockchain2 days ago

SEC Chair Nominee Gary Gensler Calls Bitcoin (BTC) “A Catalyst for Change”, Is Bitcoin ETF Coming Soon?

Blockchain3 days ago

VeChain Price Prediction 2021 – 2027

Blockchain2 days ago

NFTs are changing the world of art and it is just getting started

Blockchain2 days ago

Rarest Pepe — ‘most important NFT in art history’ — sells for 205 ETH

Blockchain2 days ago

Bitcoin Price Forecast: BTC elevation to $52,000 catches momentum

Blockchain2 days ago

Santiment Reveals Top 10 Ethereum Projects by Developer Activity

Blockchain3 days ago

Grayscale Accelerates Ethereum Accumulation

Blockchain2 days ago

Mainnet launch and NFT sale lift Aavegotchi (GHST) to a new all-time high

Blockchain3 days ago

Crypto Projects Continue to Partner With Sports Teams

Blockchain2 days ago

A deep dive into Eth 2.0, scaling and a project that lets users buy the entire crypto market

Blockchain2 days ago

Someone Sent $243K in Bitcoin to an ‘Elon Musk’ Scam Wallet Address

Blockchain2 days ago

Exploring Polkadot’s blockchain of blockchains

Blockchain3 days ago

Bitcoin (BTC) Price Prediction: BTC/USD Hits $50,000 High and Retraces, May Find Support above $47,000 High

Blockchain2 days ago

ChiliZ To Expand Operations, Will Invest $50 Million in the US

Blockchain3 days ago

Why March 2021 may see Bitcoin register yet another pullback

Blockchain2 days ago

DeFi token CRV spikes after reports PayPal acquired unrelated custody firm Curv

Blockchain3 days ago

QuickSwap DEX Offers Credit and Debit Card Support

Blockchain2 days ago

Bitcoin price prediction: Bulls buy the dip to push BTC/USD past $50k

Blockchain3 days ago

Bitcoin Analyst Sees “Aggressive” Bull Run Towards $64,000; Here’s Why

Blockchain3 days ago

Thai SEC Backpedals on Crypto Trading Requirements

Blockchain3 days ago

Crypto tax startup TaxBit raises $100 million in round backed by PayPal, Bill Ackman and more

Blockchain2 days ago

Bitcoin’s Compound Annual Growth Rate Is ‘Unmatched in Financial History’, Analysis Shows

Blockchain2 days ago

Bitcoin’s Recent 25% Drop ‘Positive’ as It Tested Holder Conviction: Report

Blockchain2 days ago

A Beginner’s Guide on How to Play in Casinos

Blockchain3 days ago

Bitcoin price could rally up to $50,000

Blockchain2 days ago

Thailand SEC Allays Fears Over Controversial Crypto Proposal

Blockchain2 days ago

Kraken Daily Market Report for March 02 2021

Blockchain2 days ago

TA: Ethereum Lacks Momentum Above $1,550, Why Dips Likely To Be Limited

Blockchain3 days ago

Cardano Multi-Asset ‘Mary’ Update Launches to Mainnet

Blockchain3 days ago

Billionaire Mark Cuban Explains to Peter Schiff Why Gold ‘Will Die’ As a Store of Value

Blockchain3 days ago

Full Cardano decentralization expected in March

Blockchain2 days ago

Did Paris Hilton Forget She’s Already Released an NFT?

Blockchain2 days ago

Marc Lasry and former CFTC chair Giancarlo invest in BlockTower Capital

Blockchain2 days ago

Amplifying Her Voice

Trending