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[UPDATED] Crypto Pioneer Charlie Shrem Fights Back The Accusations Of Stealing 5,000 Bitcoins

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A few days ago in our crypto news, we posted the story of Charlie Shrem who is accused of stealing 5,000 bitcoins from the first bitcoin billionaires Cameron and Tyler Winklevoss.

At that time, Shrem’s lawyer Brian Klein did not provide the public with an answer or a statement but just two days ago he responded that the 5,000 Bitcoins in question belong to a certain ‘’Mr.X’’ and therefore the lawsuit is nonsense.

According to Klein, Shrem made no wrongdoing whatsoever and that this lawsuit is only an ‘’ambush money-grab’’ in order to damage Shrem financially.

As DC Forecasts crypto news site reported, the Gemini founders had given Shrem more than $200,000 to help them invest in Bitcoin. They say that approximately $60,000 of those funds Shrem used to purchase BTC for himself that are now worth about $30 million.

The twins pointed out the lavish lifestyle Shrem was living and noted that he had no money when he went to prison three years ago. Shrem was accused of selling cryptocurrency to people who intended to purchase drugs on the dark web marketplace.

For this reason, the twins hired a private investigator that then discovered that a bitcoin wallet that received 5,000 BTC from an address associated with Shrem.

Klein on the other hand, claims that these funds belong to Mr. X who asked help from Shrem in order to move his coins into cold storage. He then sent the funds to Shrem’s bitcoin address.

 “Nor can WCF prove Shrem engaged in any misconduct. He did not. Shrem can show by verifiable evidence that he did not take the 5,000 bitcoins WCF accuses him of taking and that they belonged to Mr. X. Shrem, therefore, did not breach any duty to WCF, even if one were found to exist.”

Both sides are going to meet in court tomorrow Nov. 8.

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Russia Is Not Planning To Buy $10 Billion In Bitcoin

According to an official with the Russian State Duma Elina Sidorenko, Russia is not planning to buy $10 billion in Bitcoin after the rumors reached all crypto news media outlets. Sidorenko said:
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Sidorenko reacted to the fake news reports from Telegraph where it was noted that Russia wants to invest $10 billion in bitcoin in order to mitigate the economic impact that is brought up from the US sanctions. The rumors emerged on Twitter where a particular user wrote that Kremlin has no choice but to invest in bitcoin and that it is the only way to avoid the harsh sanctions by President Trump. Ginko posted on Twitter and his post went viral after Telegraph wrote a story about it and lots of other websites just added their own touch to it. Ginko is known to the public for making such shocking tweets and comments after once saying that sham investment adviser Bernie Madoff is the real Satoshi Nakamoto. However, Sidorenko said that Ginko’s comments are absurd:
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However, according to Tota Kaliaskarova, the director of macroeconomic policy with the Eurasian Economic Union says that crypto could have a huge impact on the Eurasian economy.
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Altcoin News

Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600

The latest Bitcoin news show that the most dominant cryptocurrency is kind of idle when it comes to fast growth. Over the past few days, it managed to go in the green and in the red with less than 1% movements, holding firmly above the $3,600 mark. Bitcoin has stayed above the $3,600 threshold for some time now, while its highest price point over the past 24 hours was $3,707. Currently, BTC is at $3,637 with a loss of 0.32% overnight. The total market capitalization is down from $122 billion yesterday to $121 billion today - and down by more than $2 billion from the intraweekly high of $123..2 billion. Ripple (XRP) is slightly down as well, trading at $0.32 and falling by one cent compared to yesterday's numbers. Ethereum (ETH) also declined by 0.64% and is still at $122. EOS managed to surge by 0.68% overnight and is now trading at $2.44. While most of the top 10 is green, only EOS (EOS) and Tron (TRX) managed to rise. TRX rose to $0.024 with a 0.94% growth just like EOS and its sub-1% movements. The biggest growth overnight was initiated by Cardano (ADA) and Binance Coin (BNB). While ADA surged by 2.71% to a new price of $0.045, BNB managed to climb to $6.20 rising by 2% overnight. As it is right now, the cryptocurrency market definitely needs some movement on the green side. However, the idle movements can continue as well, proving that another bear market is here.
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Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation

Over the past day, the crypto market recovered from its previous position and reached $123 billion as Bitcoin also managed to avoid another drop below the $3,600 mark. In the latest crypto news, we take a look at some analysis from multiple crypto technical analysts. Some analysts think that because of the high sell-off intensity in the previous period, there is a strong chance for the price of BTC and other altcoins to drop even further below their support levels in the short-term. Also, they believe that Bitcoin will even decline as low as $3,100 by the end of the bear market before recovering by the end of 2019. Crypto technical analyst Eric Thies said that Bitcoin might start a strong movement upwards by the end of 2019:
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Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
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Scott Galloway Of UCLA Believes Crypto Will Get Worse In 2019

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‘’VR and crypto go from bad to worse. AI fails to live up to the hype. 3D printing rises from the ashes. Smart cameras become a hot category.’’
His assessment seems to be accurate but can the crypto market prove to be the odd one out? This can be so since many industries are really committed to the crypto sector. Companies such as Fidelity, ICE, and Nasdaq have funded at least five projects in the crypto space over the past year. Venture capitalist Jim Breyer even said:
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