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4-Year Prison Sentence For Stealing Bitcoin Mining Equipment: Iceland

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BTC mining

A man from Iceland was sentenced to four years and six months prison sentence after he was arrested for stealing Bitcoin mining equipment according to crypto news media outlet Iceland Monitor reported on January 17.

Sindri Þór Stefánsson boarded a ticket in April 2018 to Stockholm from Reykjavik allegedly with a stolen passport and was later arrested in Amsterdam and was brought back home. He claimed that he fled legally custody to Sweden.

Stefánson told the court that he had six other accomplices and was sentenced the lengthy jail term. The stolen equipment was reportedly worth about $2 million and was related to two other attempted heists back in December 2017 and January 2018.

The target of the heist was Nordic IT Company Advania and the now seven defendants will have to pay a compensation of about $273,000.

The criminal was served with the longest prison sentence out of all the other accomplices which came after the claimed to have been legally allowed to board the Sweden Flight at the time when he fled the Sogni prison.

When the custody warrant ran out, the judge renewed it in the 24-hour window he had but the in the interim there was a statement where it showed that Stefánsson was free to travel. He added in a statement:

 “I was forced to sign a paper stating that I was free travel, but if I could, I would stay in a prison room until the extension of custody was approved.’’

In September  2018, many businesses in Iceland planned to get out of the Bitcoin mining industry and focus solely on the ‘’pure blockchain businesses.’’

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Analysis

Bitcoin To $6k: BTC Looks Good Despite Recent Reversal

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Bitcoin is in the latest cryptocurrency news for incurring a significant amount of buying pressure which in turn led the cryptocurrency to surge past the $5,600 levels. However, despite the recent correction to $5,400, analysts say that Bitcoin to $6k is still a reality that is possible. The recent inability to hold support at the price level has allowed Bitcoin to fall in the $5,400 region. According to one analyst, Bitcoin could be close to form another leg up on the condition that it is able to reach a strong buying action if it is to dip in the $5,300 region. Other analysts don't think that Bitcoin to $6k is a possible scenario that we could see in the near future mainly because of the instability and the buying pressure which is lacking - and predict that a boom is only possible in the altcoin news sphere. However, it is important to note that BTC is still trading up from its weekly lows at $5,200 and is below its one-month highs of $5,650 which were set yesterday. According to a popular cryptocurrency analyst named UB on Twitter, the Bitcoin price action could be initiated as BTC responds to the $5,300 - forming a reaction to this price level and going with another leg up.
“$BTC – I’m leaning towards another leg up if there’s a strong reaction from the ~$5300 area. If there’s a bounce before then, I may be interested in taking a short position from ~$5530 for a day trade. Whichever scenario happens, the end goal is the same ($5300),” @CryptoUB tweeted.
Another great pattern to note, in comparison with the Bitcoin to $6k trend is the ascending trendline of BTC which may lead it to climb higher in the near future. As another analyst named Alex Kruger tweeted:
“$BTC hugging this trendline, in play since the April breakout."
Kruger's comment was featured on many best cryptocurrency news sites. All of this shows that Bitcoin to $6k is a reality and that BTC may be on track for a new move into the $6,000 region. Despite the reversal and the crypto currency news showing that a boom on the altcoin market is possible, BTC may clmb in as high as $6,400 according to Josh Rager, another popular analyst on Twitter.
“$BTC – possible scenario: Bitcoin continues to make its way up to the peak interest area at $6400+. Lots of historical volume at this level and would create peak fomo. This is where people who bought previously at $6k have the opportunity sell to fomo buyers before a retrace,” Rager tweeted.
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Altcoin News

Samsung Invests In Ledger: $2.9 Million Confirmed

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The major hardware cryptocurrency wallet manufacturer Ledger is in the focus of the latest cryptocurrency news for receiving a $2.9 million investment from the electronics giant Samsung, according to official news coming from a company spokesperson. The news that Samsung invests in Ledger went viral on many cryptocurrency sites even though no further details beyond the initial investment amount were provided. To be precise, the investment that Ledger has secured from Samsung was 2.6 million Euros ($2.9 million) - something that follows the appointment of Pascal Gauthier which is the firm's former president as its new CEO. Right now, the former CEO Eric Larcheveque will be redirected to the Executive Chairman of the Ledger's Board position. As Larcheveque said in a letter (before the news that Samsung invests in Ledger):

“In this role I will be able to properly focus on strategy and vision, while also overseeing regulator and government outreach, partnerships, customers, broader business relationships and technology thought leadership.”

What's interesting is that today, an anonymous source told the cryptocurrency industry news outlet CoinDesk Korea that Samsung may also end up developing a public-private blockchain along with its own cryptocurrency token. This project, in addition to the news that Samsung invests in Ledger, will be a major undertaking by the company's blockchain division. In the long run, however, it may help Samsung along with a new asset that is now dubbed Samsung Coin.

The website also quoted the source saying “we expect Samsung Coin to come out in the market, but the direction has not yet been decided," and quickly entering the altcoin news section with this viral news.

As other sources reported on April 22, Samsung has apparently delayed the launch of its $2,000 folding phone dubbed Galaxy Fold due to series of breakage issues as reported on the best cryptocurrency news sites. Even though fans were expecting another phone packing a crypto wallet, several reviewers have reported the inside of the screen flickering, freezing and dying on the test phones in the very first days.

Now that Samsung invests in Ledger, the company's focus could shift and we could definitely see an electronics giant in the crypto news sections in the near future.

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Altcoin News

Binance Singapore Launches With Just One Crypto Trading Pair

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The Binance Singapore launch was long expected by many, mostly because of Binance's vast presence and popularity around the world. In the latest cryptocurrency news, we are citing a report from TechCrunch which shows that Binance officially launched its Singapore branch - but only with some limited features. In more detail, users of the Binance Singapore platform will only be able to purchase Bitcoin (BTC) using Singapore dollars (SGD) which means that there will be far fewer trading pairs available for consumers compared with the company's main exchange. According to the official website, the service is being offered in a close partnership with Xfers which is a local payment service that offers crypto wallet features that are apparently approved by Singaporean regulators. Every user who wants to use this service would need to create an account with Binance Singapore, link their Xfers account and start buying and selling Bitcoin as they wish. The report also features one spokesperson behind Binance's Singapore branch, stating the following:
“Binance is excited to bring world-class blockchain technology to Singapore and we look forward to showcasing Binance’s tier one safety and security measures to the world. BTC/SGD is the initial pair Binance Singapore is offering with the soft launch and there may be more pairs added as regulations allow.”
As many best cryptocurrency news sites reported earlier in April, the CEO of Binance Changpeng Zhao (known as CZ) said that Binance was planning to open its Singapore branch at some point this month. However, further details about Binance Singapore were not known at the time. Last September, CZ revealed that the beta testing for this service was about to begin. Meanwhile, the coming altcoin news show that Binance is also getting a lot of investments. One of them was made by Vertex Ventures, which is a subsidiary of Temasek Holdings - and the recent investment company that decided to invest in Binance and fuel its expansion to the country. Right now, Binance is the second largest crypto exchange by trading volume according to data from CoinMarketCap. However, the Singapore branch will definitely help and get the exchange closer to the first spot.
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Bitcoin News

The Identity Of Satoshi Won’t Be Revealed Soon By John McAfee

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The identity of Satoshi won’t be revealed by John McAfee as he planned earlier due to the possibilities of a lawsuit. The American entrepreneur as reported in our altcoin news wanted to out the name of the bitcoin creator but now he is holding back on his plans. McAfee fears from further lawsuits and potential extradition to the United States if he announces the identity of Satoshi Nakamoto according to reports. The popular businessman, who founded the popular antivirus company McAfee Associates in 1987, claims that his technology has managed to track and find who the real creator of bitcoin is. According to the reports, McAfee used his technology to find the identity of Satoshi and in one occasion even contacted the Bitcoin creator claiming that the mystery man is actually someone who lives in the United States by saying:
 “My entire life I’ve been tracking people who are the best in the world, and hiding their identity. Finding Satoshi was a piece of cake for me.”
John McAfee also noted that the identity of Satoshi Nakamoto and his tracking down was not a good idea. Although he wanted to publicly announce the name of the BTC creator and all of the best cryptocurrency news sites reported and anticipated, he is now holding back on the information since he fears of multiple lawsuits. It is well known that McAfee is not a stranger to controversy; he has also been indicted by the Internal Revenue Service in the United States over tax-avoidance and could even face extradition from the Bahamas where he is currently staying. Him telling the identity of Satoshi Nakamoto to the public wouldn’t have been the first battle that he would need help from his lawyers. He also pointed out:
 “The US extradition request to the Bahamas  is imminent. I met with Mario Gray, my extradition lawyer, and it is now clear [...] that releasing the identity of Satoshi at this time could influence the trial and risk my extradition. I cannot risk that. I'll wait.”
As is it widely known, the real identity of Satoshi has always been a mystery, especially since the 2010s when the bitcoin white paper was initially published.
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