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.
Russia Is Not Planning To Buy $10 Billion In Bitcoin
“This statement has no common sense. The Russian Federation — like any other country in the world — is simply not ready to combine its traditional financial system with cryptocurrencies.”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:
“Even if Russia wants to place its cryptocurrency assets now, it simply cannot do this. We do not have any mechanisms that would allow us to introduce a system: where these assets would be stored, which authorities would be responsible for it, which would be responsible for abuses and stuff.”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.
Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
“Similar to 2015, 2019 may be the year of accumulation.’’Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
Scott Galloway Of UCLA Believes Crypto Will Get Worse In 2019
‘’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:
“So many of the very best computer scientists and deep learning Ph.D. students and postdocs are working on blockchain because they have so much fundamental interest in what blockchain can mean. You don’t want to bet against the best and brightest in the world.’’
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