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Farmer demanded £1.4 million of Bitcoin in Tesco blackmail plot

Nigel Wright, Lincolnshire, tried to extort £1.4 million ($1.8 million) of Bitcoin after adding metal shards to baby food

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In brief

  • Nigel Wright has been found guilty of three counts of blackmail and two counts of contaminating goods.
  • The farmer attempted to extort Bitcoin out of Tesco after inserting metal in baby food products.
  • The investigation lasted two years and became the largest blackmail investigation in UK history.

Farmer Nigel Wright has been convicted of three counts of blackmail and two charges of contaminating goods after he was found guilty of adding metal shards to baby food, according to the BBC. This ends a two-year-long investigation—the largest blackmail investigation in UK history. 

“Today’s conviction is the result of decisive and collaborative actions which we took alongside law enforcement agencies,” said a Tesco spokesperson.

It started when Wright placed jars of contaminated baby food on the shelves in Tesco—as seen by CCTV footage. Mothers who bought the food saw the shards only moments before they were about to feed it to their babies.

“It was horrendous. I felt sick, I was so shocked,” said one mother, Morven Smith. 

Between May 2018 and February 2020, Tesco received anonymous letters demanding payment in Bitcoin. One particular letter read, “Imagine a baby’s mouth cut open and blood pouring out, or the inside of their bellies cut and bleeding. You pay, you save them.” 

When Wright was arrested on February 25, 2020, authorities recovered approximately £100,000 ($131,000) in Bitcoin, all of which had been sent by undercover police officers during the manhunt. 

Mr Justice Warby, who heard the case, recommended a psychiatric report for Wright who “has or appears to be mentally disordered,” the judge said

Wright was also convicted of blackmailing a driver for £150,000 ($197,000) of Bitcoin over a road rage altercation.

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Over 1,000 New Bitcoin ATMs Opened Worldwide in November

A crypto automated teller machine (ATM) is similar to a traditional ATM in that it allows users to directly transact with cryptocurrencies (usually bitcoin) for fiat currency. Instead of using an online exchange, you can transact with the machine and buy or sell directly for cash, depending on your needs.   Current Bitcoin Price Is … Continued

The post Over 1,000 New Bitcoin ATMs Opened Worldwide in November appeared first on BeInCrypto.

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As the price of bitcoin and other cryptocurrencies continues to rise, there have been other corresponding factors pointing to greater worldwide adoption, such as the notable increase in the number of available Bitcoin ATMs.

A crypto automated teller machine (ATM) is similar to a traditional ATM in that it allows users to directly transact with cryptocurrencies (usually bitcoin) for fiat currency.

Instead of using an online exchange, you can transact with the machine and buy or sell directly for cash, depending on your needs.  

Current Bitcoin Price Is Outpacing ATM Growth

According to data from Coin ATM Radar, 1,118 new ATMs were opened in November while 100 were closed. This led to a net growth of 1018 ATMs, an 8.9% month-on-month increase.

When compared with bitcoin’s price growth in November, the ATM market lags behind the price. Bitcoin rose approximately 43% in November.

This is not a surprising statistic, as generally an influx of Bitcoin ATMs will follow a price increase, not lead to a price increase. It’s possible that December will see a rise in ATM growth that outpaces the price growth.

The Crypto ATM Industry

The top five ATM manufacturers were largely responsible for this growth, after installing an additional 929 ATMs last month, over 80% of the total amount that were opened.

Out of all the countries globally that operate Bitcoin ATMs, almost 1,000 of the new ATMs were opened in the United States. The US added 925 new ATMs in the month of November, crossing the 10,000 Bitcoin ATM mark nationwide.

One perhaps surprising statistic was the adoption of Litecoin at a higher rate than Ethereum for the month. The number of users transacting on the Ethereum network, the launch of ETH 2.0, and Ether’s dominance in the market cap department do not seem to have swayed Litecoin investors.

Elsewhere, Norway closed down its only functioning Bitcoin ATM whereas Brazil added the country’s first one in the city of Sao Paolo.

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Harrison is a reporter and lead specialist at BeInCrypto based out of Tel Aviv, Israel. Harrison has been involved in the cryptocurrency space since late 2016 and is passionate about decentralized ledger technology and its potential.

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Source: https://beincrypto.com/over-1000-new-bitcoin-atms-opened-worldwide-in-november/

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Tezos, IOTA, Crypto.com Coin Price Analysis: 04 December

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Bitcoin’s recent surge that saw it climb to a new ATH on a few exchanges had a profound effect on the rest of the crypto-market. At press time BTC was being traded at $19,403 with a trading volume of $17.5 billion.

Source: CoinStats

Thanks to BTC’s high correlation with the rest of the market, many altcoins surged, including the likes of IOTA and Tezos. Crypto.com Coin, on the contrary, seemed to follow its own bearish trajectory on the charts.

Tezos [XTZ]

Source: XTZ/USD on TradingView

Tezos, once one of the market’s top-12 cryptocurrencies, has fallen a long way on the charts since mid-August. In fact, at the time of writing, Tezos was ranked 19th on CoinMarketCap’s ladder. However, despite its bearishness over the last few months, the last few weeks have seen signs of bullish revival. The same was true over the previous week as XTZ surged by almost 8% on the charts after Bitcoin’s latest ATH.

It should be noted, however, that this hike paled in comparison to the one it noted the week before that. At the time, Tezos was observed to have climbed by almost 30%.

While there were some bullish signs, the larger trend remained bearish, something suggested by XTZ’s technical indicators too. While the Parabolic SAR’s dotted markers were well above the price candles, the Relative Strength Index was mediating between the oversold and overbought zones.

Tezos was in the news recently after it announced the Edo upgrade, swiftly on the heels of the Delphi upgrade.

IOTA

Source: IOTA/USD on TradingView

IOTA was one of the altcoins to register the sharpest of movements after Bitcoin started breaching resistance levels in late-November. In fact, thanks to the same, IOTA’s value shot up the charts, even briefly overtaking the highs last set in August 2020. While corrections had ensued at press time, IOTA’s price charts still recorded a hike of over 14% over the last 7 days.

The scale of the movement was evidenced by IOTA’s technical indicators as while the Bollinger Bands were expanding to make room for incoming price volatility, the Awesome Oscillator highlighted mostly bullish momentum in the market.

IOTA recently teamed up with Austra’s Christina Doppler Laboratory to foster research in distributed ledger technologies.

Crypto.com Coin [CRO]

Source: CRO/USD on TradingView

Crypto.com’s CRO has had quite a dramatic year. Having climbed and consolidated on the charts until the end of September, October saw CRO fall steeply down a cliff with the scale of its depreciation taking many by surprise. Oddly enough, CRO’s fall also coincided with the rest of the market’s cryptocurrencies strengthening their positions. What is even more interesting is that Bitcoin’s bearish run as over the past week or so, CRO was still down by almost 20%.

On the contrary, CRO’s indicators still flashed green. While the MACD line was hovering over the Signal line under the histogram, the Chaikin Money Flow was well above zero and near 0.20, a sign of growing capital inflows. At the time of writing, it was difficult to predict whether these indicators’ signals would amount to a trend reversal or not.

Source: https://eng.ambcrypto.com/tezos-iota-crypto-com-coin-price-analysis-04-december

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Audio Streaming Mogul Spotify Considering Cryptocurrency Payments

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Joining the tech and financial services bigwigs in the payments revolution, Spotify too is going the crypto way. The Swedish audio streaming and music services giant just put up a job offer for an Associate Director, Payments Strategy & Innovation. The desired candidate will play a key role in ‘navigating the company’s payments rudder’ through the cryptocurrency ecosystem.

Spotify Looking To Be A ‘Leading Player In The Cryptocurrency Space’

As per an official job opening that Spotify just posted, the company is looking for an Associate Director for their Payments Strategy & Innovation Team. The said individual would report to the Director of the same team. And will be instrumental in Spotify gaining a considerable foothold wrt integration of cryptocurrency payments. According to the description:

We are now looking for an outstanding Associate Director to join our Payments Strategy & Innovation team. This role will report to the Director, Payments Strategy & Innovation and will play a key part in defining and implementing Spotify’s payments strategy as well as leading Spotify’s activity within the Libra stablecoin project and wider digital asset & cryptocurrency space.

The objective is to address the company’s plan of ‘enabling new monetization opportunities’ for music creators. Also, Spotify wants its platform to become accessible to a larger section of potential users.

Spotify intends to inculcate all the latest fintech trends in their payments strategy, including cryptocurrencies. So that users from all sections of the society can access the music streaming platform.

Crypto Agenda Involves Libra As Well

One of the designated roles of the incoming Associate Payments Strategy Director would be to lead ‘Spotify’s day-to-day engagement with the Libra Association.’ This is due to the ongoing alliance of the company with Facebook’s digital currency project.

Along with this, the company is looking to leverage all the blue-chip aspects of the blockchain and cryptocurrency space. This includes stablecoins and Central Bank Digital Currencies (CBDCs). It is to streamline its transition to the most advanced payment methods available in finance at the moment.

The Associate Payments Strategy Director would be required to fulfill the above roadmap by making use of

Spotify’s global footprint to seek out innovation in the payments domain globally as well as emerging regulatory & market trends that could influence Spotify’s approach to payments.

Through all the above, the company actually intends to elevate its ‘reputation as a market leader in payments’, the website said. And give giant payments players like PayPal a run for their money.

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Source: https://cryptopotato.com/audio-streaming-mogul-spotify-considering-cryptocurrency-payments/

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