Cryptocurrency

Man Offers City $70 Million to Help Him Recover Bitcoin Treasure Trove from Landfill

A British IT worker named James Howells is reportedly offering a 25 percent cut of his lost 7,500 Bitcoin fortune to the Welsh city of Newport if it allows him to excavate a landfill where he dumped the hard drive containing the Bitcoin treasure trove in 2013. The 7,500 Bitcoins are worth about $275 million at current prices, meaning the city stands to gain more than $70 million if the hard drive is found.

The price of bitcoin has plunged since highs of nearly $20,000 in 2017

CEO of Cryptocurrency Exchange Coinbase Confronts Woke Capitalism

Wired magazine recently outlined the internal turmoil at cryptocurrency exchange Coinbase following CEO Brian Armstrong’s declaration that political discussions were to be kept outside of the office, giving employees a week to agree or leave. His direct refutation of the tech industry’s woke capitalism left his employees in an uproar.

Coinbase CEO Brian Armstrong

Feds: Major Cryptocurrency Exchange Acted as ‘Vehicle for Money Laundering’

The  New York Times reports that federal authorities have brought criminal charges against the owners of one of the world’s biggest cryptocurrency trading exchanges, BitMEX, alleging that the Hong Kong-based company was used to launder money and engage in illegal transactions. BitMEX handles a volume of $1.5 billion in crypto trades each day, making it one of the top five cryptocurrency exchanges.

Nordea, the Nordic region's biggest bank, said it would bar employees from trading in bitcoin and other cryptocurrencies as of February 28.

DOJ: Ohio Man Ran $300 Million Bitcoin Money Laundering Scheme

An Ohio man has been arrested by federal authorities for running a “Bitcoin mixer” service on the dark web that helped to launder as much as $300 million in Bitcoin. The bitcoin allegedly laundered by the service are now worth $3.5 billion at the current valuation.

A picture taken on February 6, 2018 shows a visual representation of the digital crypto-currency Bitcoin, at the "Bitcoin Change" shop in the Israeli city of Tel Aviv. / AFP PHOTO / JACK GUEZ (Photo credit should read JACK GUEZ/AFP/Getty Images)

Federal Reserve Governor Blasts Facebook’s Libra Currency

U.S. Federal Reserve Governor Lael Brainard strongly criticized Facebook’s digital currency, Libra, on Wednesday. Brainard argued that Facebook’s digital currency project will face numerous regulatory challenges before it could be considered viable for public use.

Prime Minister Malcolm Turnbull would "love" Facebook boss Mark Zuckerberg -- seen here at the US Congress -- to be grilled by Australian lawmakers