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Italy, EU Spar Over Bridge Collapse in Genoa

August 17, 2018 |

Finger pointing over the deadly collapse of a highway bridge in Italy intensified Thursday as Italian and European authorities sought to assign blame for the disaster, which cost at least 38 lives.
WSJ.com: What’s News Europe

Trump: I Axed Parade Over Local Politicians’ Greed

August 17, 2018 |

President Trump says there’s someone to blame for his military parade being canceled , and he knows exactly who it is: “local politicians,” per a Friday morning tweet. “The local politicians who run Washington, D.C. (poorly) know a windfall when they see it. When asked to give us a price…
Newser

Pantera Capital Already Raises Over $70 Million for Its Third Crypto Fund

August 16, 2018 |

Pantera Capital Already Raises Over $  70 Million for Its Third Crypto Fund

Pantera Capital, one of the largest US-based institutional holders of cryptocurrencies, has already raised more than $ 70 million for its third crypto fund. And the first investment by Pantera Venture Fund III went to Intercontinental Exchange’s Bakkt.

Also Read: The Daily: McAfee’s “Unhackable” Wallet Is Doomed, Coinbase Wants to Be Your ID

$ 175 Million Crypto Venture Fund

Pantera Capital Already Raises Over $  70 Million for Its Third Crypto FundPantera Capital, a Menlo Park, California based cryptocurrency investment fund, is reportedly looking to raise up to $ 175 million for its third venture fund. This will make Pantera Venture Fund III much bigger than its predecessors, which were closed at just $ 25 million and $ 13 million respectively.

And SEC filings show the firm already got $ 71,445,000 in capital commitments from ninety investors. Pantera partner Paul Veradittakit told Techcrunch that this figure is just a “first close,” and explained that the much larger target amount is a “function of how fast the space is moving, the talent coming in, the opportunities, and the sizing of rounds. With more interesting later-stage investments [on our radar], too, we want to be flexible and able to move with the market.”

Bullish on Bakkt

The company also revealed that on its blog that, Pantera Venture Fund III’s first investment “could result in one of the most important developments in blockchain history.” The fund is one of the founding investors in Bakkt,Pantera Capital Already Raises Over $  70 Million for Its Third Crypto Fund the recently-announced subsidiary of the parent of the New York Stock Exchange — Intercontinental Exchange (NYSE: ICE).

Pantera Capital wrote: “The potential ripple effect of Bakkt’s success could reverberate across the Blockchain ecosystem by expediting commercial use and widespread institutional adoption. This is the first of several exciting projects the Pantera investment team has identified for Venture Fund III. In alignment with our Venture Funds I and II investment strategies, Bakkt, as well as the two other projects in our pipeline, reflect a continued focus on infrastructure.”

Last month it was reported that Pantera Capital has generated a more than 10,000% lifetime return since launching in 2013. Its past portfolio includes many exchanges such as Bitstamp, Bitoasis, Bitpagos, Bitpesa, Coins.ph, Coinsuper, Koinex, Korbit, Paradex, and Ripio.

Is this a sign that investors are expecting a strong market recovery? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Pantera Capital Already Raises Over $ 70 Million for Its Third Crypto Fund appeared first on Bitcoin News.

Bitcoin News

Tencent’s Rout This Year Has Wiped Out Over $175 Billion in Market Value

August 16, 2018 |

Tencent’s selloff has sparked fears of a broader contagion for tech stocks around the world.
WSJ.com: US Business

Bitangels Co-Founder Sues AT&T for $224 Million Over Cryptocurrency Hack

August 16, 2018 |

Bitangels Co-Founder Sues AT&T for $  224 Million Over Cryptocurrency Hack

The cryptocurrency investor Michael Terpin is suing the large telecom firm AT&T because his mobile phone was compromised by hackers who stole $ 24M USD worth of digital assets. Terpin says he was hacked twice in less than a year and employees at AT&T participated in a SIM swap fraud.

Also read: Fivebucks.com: Meet the Freelancer’s Marketplace Powered by Bitcoin Cash

$ 24 Million in Digital Assets Stolen: Michael Terpin Blames AT&T

Bitangels Co-Founder Sues AT&T for $  224 Million Over Cryptocurrency Hack
Michael Terpin

Michael Terpin the co-founder of Bitangels says he lost close to $ 24 million in cryptocurrencies, and he’s blaming the giant communications company AT&T. The 69-page lawsuit filed by the LA-based law firm Greenberg Glusker details that Terpin believes AT&T employees were involved in a SIM swap fraud which cost him the loss of a large number of digital assets. Major telecom services like AT&T, Verizon, and T-Mobile have all been accused of PIN and SIM swap fraud alongside alleged data breaches. According to Terpin an “insider” from AT&T cooperated with a malicious hacker.

“What AT&T did was like a hotel giving a thief with a fake ID a room key and a key to the room safe to steal jewelry in the safe from the rightful owner,” the complaint reads.

According to an email statement,  AT&T says they “dispute the allegations” and they “look forward to presenting their case in court.”

Bitangels Co-Founder Sues AT&T for $  224 Million Over Cryptocurrency Hack

Failure to Adhere to Privacy Commitments

Bitangels Co-Founder Sues AT&T for $  224 Million Over Cryptocurrency HackNot only does Terpin want his $ 24 million back but the investor also wants $ 200M in punitive damages. Terpin says within pages of the lawsuit that AT&T’s personnel have been accused of SIM swapping fraud in “numerous incidents.” Even though AT&T denies any wrongdoing in this specific case the telecom firm has had a lot of complaints about SIM swap transgressions in the past.

For instance, the New York State Division of Consumer Protection has issued a warning specifically about an “AT&T SIM-card switch scam.” On July 18, 2018, authorities arrested a man from Florida who was allegedly in charge of a giant “multi-state cyber fraud ring” that stole hundreds of thousands of dollars worth of cryptocurrencies. Police say they first heard about the SIM-card gang when a Mom from Michigan caught her son on the phone pretending to be an AT&T employee.

Terpin emphasizes in the complaint that he lost millions because, “AT&T’s willing cooperation with the hacker, gross negligence, violation of its statutory duties, and failure to adhere to its commitments in its Privacy Policy.”

What do you think about Michael Terpin suing AT&T for $ 224M? Let us know your thoughts on this subject in the comment section below.


Images via Pixabay, Shutterstock, and Twitter. 


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The post Bitangels Co-Founder Sues AT&T for $ 224 Million Over Cryptocurrency Hack appeared first on Bitcoin News.

Bitcoin News

Disney puts luxury hotel plan on hold in feud with Anaheim over $267 million in subsidies

August 16, 2018 |

Walt Disney Co. has put a hold on plans to build a luxury hotel in the Disneyland Resort’s shopping district, citing a feud with Anaheim officials over tax subsidies that the Burbank media giant was expecting to get from operating the hotel.

The dispute centers on a $ 267-million tax break that…


L.A. Times – Business

Stocks sink on growth concerns and jitters over Turkey

August 15, 2018 |

Global stocks are sinking Wednesday as an unexpected drop in profits for Chinese tech giant Tencent has investors worrying about economic growth. Oil and copper prices are falling.

Technology and energy companies are taking some of the worst losses in the United States. Retailers are falling despite…


L.A. Times – Business

High-Profile Thai Crypto Case: Bitcoiner Lost Over 5,500 BTC – Ringleader Fled to US

August 15, 2018 |

High-Profile Thai Crypto Case: Bitcoiner Lost 5,500+ BTC - Ringleader Fled to US

A high-profile crypto case involving a well-known actor and model has come to public attention in Thailand following the enforcement of the country’s crypto regulations. Over 5,564 BTC were reportedly stolen from a bitcoin millionaire. The alleged ringleader has fled to the U.S. Thailand’s main crypto regulator is cooperating with the police on the case.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

High-Profile Crypto Case

High-Profile Thai Crypto Case: Bitcoiner Lost 5,500+ BTC - Ringleader Fled to US
Actor Jiratpisit Jaravijit a.k.a. “Boom”.

A high-profile crypto fraud case has recently gained public attention in Thailand following the implementation of the country’s cryptocurrency regulations. The case involves a well-known, 27-year-old soap actor and model, Jiratpisit Jaravijit, also known as “Boom”.

The actor, his sister, brother, and six others allegedly defrauded a 22-year-old Finnish bitcoin millionaire out of 5,564.4 BTC, the Bangkok Post reported.

According to police, Aarni Otava Saarimaa and his business partner were “lured into buying shares in three companies and investing in a casino and new cryptocurrency known as Dragon Coins but had seen no returns at all on the money they put in,” the publication elaborated, adding:

They also talked the victims into believing the Dragon Coins would be used at a casino in Macao, which they took them to visit to add weight to their claim. After receiving the bitcoins from the victims, the gang sold the cryptocurrency and transferred the money into various bank accounts.

Arresting the Gang

Boom was arrested last week at a filming location in Bangkok’s Chatuchak district after police found that he received part of the swindled money; he was later released on bail, the news outlet detailed.

High-Profile Thai Crypto Case: Bitcoiner Lost 5,500+ BTC - Ringleader Fled to US
Prinya Jaravijit, Boom’s brother.

His brother and the alleged ringleader, Prinya Jaravijit, already fled the country to the U.S. via South Korea. The Thai police’s Crime Suppression Division (CSD) which is investigating the case is asking U.S. authorities to help track him down. Boom’s sister will be turning herself in on Wednesday, according to INN News.

The CSD learned of this case in January when Saarimaa’s Thai business partner, Chonnikan Kaeosali, filed a complaint, the Bangkok Post conveyed. The Finnish bitcoiner was approached by the fraudsters in June last year.

High-Profile Thai Crypto Case: Bitcoiner Lost 5,500+ BTC - Ringleader Fled to USLed by deputy commander Pol Col Chakrit Sawasdee, the CSD began gathering evidence to request arrest warrants for Boom, his siblings and six other suspects. “The Jaravijit siblings face charges of money laundering after investigators found they had purchased a number of plots of land recently,” the publication described, adding that they are likely to face fraud charges too.

“This case is complicated. We had to carefully examine documents and trace the money trail. We collaborated with Amlo [the Thai Anti-Money Laundering Office] and it took us almost seven months to get approval for the arrest warrants for the first group,” Pol Col Chakrit was quoted by the news outlet. He elaborated:

A total of 51 bank accounts have been frozen and 14 plots of land worth 176 million baht [~US$ 5,291,403] have been frozen as the investigation into the scheme proceeds…The money needs to be frozen and brought back to the victims.

Thai SEC’s Warning

High-Profile Thai Crypto Case: Bitcoiner Lost 5,500+ BTC - Ringleader Fled to USAs the case unfolds, the Thai Securities and Exchange Commission (SEC), the main regulator of cryptocurrencies in the country, issued a statement warning the public of crypto-related frauds.

On August 9, Voice TV reported that Mr. Rapee Sucharitakul, Secretary-General of the Thai SEC, commented that Boom’s case may be a violation of the country’s new crypto regulations or a criminal act. Nonetheless, the SEC will collaborate with the police on the case, he confirmed.

High-Profile Thai Crypto Case: Bitcoiner Lost 5,500+ BTC - Ringleader Fled to US
Rapee Sucharitakul.

The SEC also urged the public to be cautious when approached to invest in cryptocurrencies or crypto-related projects, emphasizing that some schemes do not involve real investments.

For initial coin offering (ICO) tokens, the regulator revealed that currently no permit has been granted to any token issuers or ICO portals.

Companies already operating crypto businesses prior to May 14 that have applied for a temporary license by August 14 are allowed to keep operating temporarily until further notice. New businesses must obtain approval prior to starting crypto operations, the regulator clarified.

What do you think of this Thai crypto fraud case? Let us know in the comments section below.


Images courtesy of Shutterstock, Thai SEC, Instagram, and Mgr Online.


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The post High-Profile Thai Crypto Case: Bitcoiner Lost Over 5,500 BTC – Ringleader Fled to US appeared first on Bitcoin News.

Bitcoin News

An ICO Venture Is Trying to Take Over a Tokyo Stock Exchange Listed Company

August 15, 2018 |

An ICO Venture Is Trying to Take Over a Tokyo Stock Exchange Listed Company

Could we soon see a token-backed project listed on one of the biggest equity venues in the world? An Asian ICO venture is reportedly trying to take over a Tokyo Stock Exchange listed firm, which would effectively make it a public company.

Also Read: Crypto Cafe and Coworking Space ‘Hash House’ Established in Xi’an, China

Noah Coin Coming to the Tokyo Stock Exchange?

An ICO Venture Is Trying to Take Over a Tokyo Stock Exchange Listed CompanyNoah Ark Technologies is a Hong Kong based company which developed its own crypto token, called Noah Coin. According to its website, the company has several varied plans for the use of its token, including enabling remittances for Filipino workers employed abroad in Japan, serving the tourism industry and even powering a whole new city by 2023 (called Noah City of course).

The company is apparently not content with just raising funds from cryptocurrency investors via the ICO market, as it is reportedly trying to get its foot inside on a traditional stock exchange which will allow it greater access to old ways of raising capital. Noah is a shareholder of Beat Holdings, which is listed on the Tokyo Stock Exchange, and wants the public company to issue new shares and share acquisition rights so that Noah will obtain about half the voting rights.

Not So Fast

An ICO Venture Is Trying to Take Over a Tokyo Stock Exchange Listed CompanyAn ICO company trying to sneak in through the back door into the Tokyo Stock Exchange, has raised the alarm bells at the still crypto-cautious venue. In fact, a Tokyo Stock Exchange official reportedly told the Japanese Nikkei news agency that the operators felt “troubled, to be honest” by the proceedings between Noah and Beat.

In addition to the exchange, that might not be legally able to block a takeover of a listed firm, Noah also needs to get Beat to cooperate but the current management is said to be resisting the move. A shareholders meeting is expected next month and the matter might come to a head at that point. If the takeover indeed takes place, Noah might leverage its new status as a listed company to try and get an approval from regulators for a Japanese crypto exchange of its own.

Should Japanese financial authorities block this move or welcome the company to the Tokyo Stock Exchange? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post An ICO Venture Is Trying to Take Over a Tokyo Stock Exchange Listed Company appeared first on Bitcoin News.

Bitcoin News

Son of Bob Goodlatte Blasts Father Over Strzok Firing

August 14, 2018 |

The son of a high-ranking House Republican has prominently come out in support of a Democrat for his father’s seat. Bobby Goodlatte, son of House Judiciary Committee Chairman Bob Goodlatte, tweeted Sunday that he’d given the “maximum allowed donation to Jennifer Lewis,” who he notes is the Democrat running for…
Newser