Financial System Has Come to an End – Martin Armstrong
Greg Hunter, 24 July 2021
Legendary financial and geopolitical cycle analyst Martin Armstrong thinks we have come to the end of the line for the financial system, and this is why globalists are on a power grab of epic proportions. Armstrong explains, “The system has come to an end. They know they can no longer borrow indefinitely. So, what is this “Great Reset’?
It is basically a move to redesign the world monetary system. They are going to stop the borrowing that they are doing, and they are just going to print. You also have this move for a digital currency. Once they move to a digital currency, they can impose negative interest rates and just take money out of your account at will. People don’t realize what this really is. . . . I believe Bitcoin was started by the government to get this whole ball going. If I gave you a $100 bill, they don’t know where I got the $100 bill from. However, if I give you that in Bitcoin, not only do they know I gave it to you, but they know where I got it from. It can be completely traced all the way down. That is a tax authority’s dream. You have to understand what they are selling is really a totalitarian regime.”
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$13.7 million: Atlas VPN adds up the impact of the top 10 most successful blockchain scams
Veronica Combs, 07 July 2021
If you have been swindled by a blockchain con, the most likely culprit is a fake investment scam, according to an analysis by Atlas VPN. The top 10 most successful currently active blockchain scams have collected $13.7 million so far, the report found.
CryptoMixer.com, a fake Bitcoin tumbler, is the biggest known active blockchain scam in terms of funds collected. This scam has collected 167 payments adding up to $2.5 million. Continue reading “Article: $13.7 million: Atlas VPN adds up the impact of the top 10 most successful blockchain scams”
China to shut down over 90% of its Bitcoin mining capacity after local bans
GT staff reporters, 20 June 2021
Many Bitcoin mines in Southwest China’s Sichuan Province – one of China’s largest cryptocurrency mining bases – were closed as of Sunday, according to after local authorities ordered a halt to mining in the region on Friday amid an intensified nationwide crackdown against cryptocurrency mining.
The ban also means that more than 90 percent of China’s Bitcoin mining capacity is estimated to be shut down, at least for the short term, as regulators in other key mining hubs in China’s north and southwest regions have taken similar harsh steps. Continue reading “Article: China to shut down over 90% of its Bitcoin mining capacity after local bans”
Bitcoin Ban Upheld at Danske Bank Amid Growing Client Demand
Christian Wienberg and Niclas Rolander, 18 June 2021
Danske Bank A/S says it won’t lift a ban on trading Bitcoin and other cryptocurrencies on its platforms, despite growing interest from clients.
Denmark’s biggest bank pointed to a lack of transparency and regulation in crypto trading, in a statement on its website. It also warned of volatile and “opaque” pricing, and noted that the carbon footprint of mining cryptocurrencies is at odds with Danske’s goal of doing sustainable banking. Continue reading “Article: Bitcoin Ban Upheld at Danske Bank Amid Growing Client Demand”
Sygnia CEO criticizes Elon Musk for alleged Bitcoin pump and dump
SoTURNER WRIGHT, 11 June 2021
Magda Wierzycka, one of the richest women in South Africa and CEO of financial services company Sygnia, said Tesla CEO Elon Musk would likely have been investigated by authorities regarding recent allegations over his manipulation of crypto prices — if his target had been almost anything other than Bitcoin.
In an interview with Bruce Whitfield at the Money Show this week, Wierzycka said Musk’s recent social media activity on the price of Bitcoin (BTC) should have made him the subject of investigation by the U.S. Securities and Exchange Commission, or SEC, if Bitcoin were more of a traditional company. The SEC previously accused the Tesla CEO of fraud for issuing false and misleading tweets in 2018, and was rumored to be investigating him for his pro-Dogecoin (DOGE) tweets earlier this year. Continue reading “Article: Sygnia CEO criticizes Elon Musk for alleged Bitcoin pump and dump”
As Ransomware Hackers Sit On Millions In Extorted Money, America’s Military Is Urged To Hack Back
Thomas Brewster, 05 June 2021
In just two months last year, the FBI watched three companies pay hackers wielding ransomware called NetWalker millions in Bitcoin to get their hacked data back. While that seems like a big win for the cybercriminals, it also gave investigators in the U.S. and elsewhere a new roadmap for tracking and prosecuting them.
Netwalker was a ransomware-as-a-service crew, similar to DarkSide and REvil, whose tools were used in the attacks on Colonial Pipeline and JBS, which led to gas and food shortages across America in the last month. The creators of NetWalker rented it out to other cybercriminals, who would find a way to break into a company and then deploy Netwalker to lock up the victims’ files. Only the key the Netwalker crew controlled could unlock that data. Since it emerged in 2019, its myriad victims included universities, healthcare bodies and government departments, making close to $50 million in that time. Continue reading “Article: As Ransomware Hackers Sit On Millions In Extorted Money, America’s Military Is Urged To Hack Back”
The Wheels Are Coming Off Tesla
JIM COLLINS, 04 June 2021
After today’s brutal miss on the jobs number — 559,000 actual vs. a 671,000 estimate was a 16.7% miss — the normal feedback loop commenced. Economy not that hot = interest rates down (the yield on the 10-year UST has ticked down today to 1.58%) = Nasdaq up. This has been the state of affairs in 2021. Is what it is. I don’t fight it, I just use these mindless bounces to reset my short positions.
Without entering into a long-winded diatribe about Elon Musk, Bitcoin, self-driving, etc., let me just note one key point that has become increasingly apparent to those of us who actually analyze fundamentals this week: the wheels are coming off Tesla (TSLA) . That is true both literally – Tesla has announced two separate recalls this week, the first covering 5,974 Models 3/Y in the U.S. and 734 in China over potentially loose brake caliper bolts and the second covering 7,696 3/Ys in the U.S. owing to potentially loose seatbelt fastener connections – and figuratively. Continue reading “Article: The Wheels Are Coming Off Tesla”
Investors accuse Elon Musk of market manipulation, launches a new meme cryptocurrency – $STOPELON
Afroz Ahmad, 25 May 2021
On his social media pages, billionaire Elon Musk has repeatedly endorsed cryptocurrencies. However, he seems divided regarding whether he is actually a supporter, especially after the recent market crash.
Many have appreciated his support for digital assets like Dogecoin and bitcoin. On the other hand, many people have accused him of manipulating the crypto market using his position and his huge following. Some crypto enthusiasts want Elon to stop tweeting about the subject, and focus more on building cars instead. As they are running a somewhat campaign against the CEO of Tesla. Continue reading “Article: Investors accuse Elon Musk of market manipulation, launches a new meme cryptocurrency – $STOPELON”
The SEC Has Hit Crypto Companies With Almost $2 Billion in Penalties
Emma Newbery , 15 May 2021
It’s hardly surprising that the recent boom in cryptocurrencies has spurred an increase in crypto crime. The Securities and Exchange Commission (SEC), one of the bodies that regulates cryptocurrencies, pursued more crypto cases than ever last year.
As of March, the SEC’s actions had brought in over $1.7 billion in penalties, according to a report from Cornerstone Research. That’s from a total of 94 enforcement actions and trading suspensions it pursued between 2013 and 2020. More than half of those cases were in 2019 and 2020. Continue reading “Article: The SEC Has Hit Crypto Companies With Almost $2 Billion in Penalties”
Binance Faces Probe by U.S. Money-Laundering and Tax Sleuths
Tom Schoenberg, 13 May 2021
Binance Holdings Ltd. is under investigation by the Justice Department and Internal Revenue Service, ensnaring the world’s biggest cryptocurrency exchange in U.S. efforts to root out illicit activity that’s thrived in the red-hot but mostly unregulated market.
As part of the inquiry, officials who probe money laundering and tax offenses have sought information from individuals with insight into Binance’s business, according to people with knowledge of the matter who asked not to be named because the probe is confidential. Led by Changpeng Zhao, a charismatic tech executive who relishes promoting tokens on Twitter and in media interviews, Binance has leap-frogged rivals since he co-founded it in 2017. Continue reading “Article: Binance Faces Probe by U.S. Money-Laundering and Tax Sleuths”
SEC Calls Bitcoin “Highly Speculative” With “Potential For Fraud”
DAVID DIERKING, 12 May 2021
It was thought that with the installation of the Biden administration we’d be looking at a more regulatory-friendly environment for cryptocurrencies. Multiple appointees to his staff have openly expressed at least a willingness to allow for greater acceptance of cryptocurrencies.
It looks like we may not be any closer after all. On Tuesday, the SEC’s Division of Investment Management issued a statement regarding mutual funds taking positions in bitcoin futures. Keep in mind that this is the same bitcoin futures market that many thought was going to clear the path for an eventual bitcoin ETF approval since dozens of ETFs already invest in futures contracts. Continue reading “Article: SEC Calls Bitcoin “Highly Speculative” With “Potential For Fraud””
SOS Stock May Boom and Bust in the Meme Stock Space Indefinitely
Chris MacDonald, 04 May 2021
Cryptocurrency miners have increasingly come into focus of late. Miners such as SOS Limited (NYSE:SOS) with extensive Bitcoin (CCC:BTC-USD) mining operations are becoming ever-more lucrative as Bitcoin prices remain elevated. That said, SOS stock has languished somewhat in recent weeks, to a greater degree than Bitcoin prices.
Investors in SOS stock have seen shares spike repeatedly in double-digit moves to the upside and downside in recent months. Continue reading “Article: SOS Stock May Boom and Bust in the Meme Stock Space Indefinitely”
Bitcoin Mixing Tycoon Arrested for Alleged $336M Laundering
Bilal Waqar, 02 May 2021
Another bitcoin mixing service fraud gets caught with the help of the International Revenue Service, this time catching a suspect of 336 million dollars.
A Bitcoin tycoon got arrested when he got into the net of the IRS. An agent from the department for enforcing tax laws played an undercover role acting as a narcotics dealer, catching the suspect of huge digital currency fraud. The guy had been in the business for the course of over a decade.
Roman Sterlingov, a Swedish and Russian citizen was involved in money laundering and money transmission without having a license. The revealed public court documents broke the news of his arrest, which in itself is an interesting story. Continue reading “Article: Bitcoin Mixing Tycoon Arrested for Alleged $336M Laundering”
Crime goes cashless as Covid crisis drives underworld online
Charlie Parker, 27 April 2021
Fraudsters, drug dealers and money mules have revealed how crime has gone cashless during the pandemic.
Coronavirus lockdowns have prompted criminals to abandon face-to-face cash transactions and to accept payments via bank transfers and sometimes bitcoin, PayPal or premium-rate telephone numbers. Continue reading “Article: Crime goes cashless as Covid crisis drives underworld online”
Gary Gensler is now head of the SEC. What comes next?
Kollen Post, 19 April 2021
As The Block reported last week, Gary Gensler is now chairman of the U.S. Securities and Exchange Commission after being sworn into office.
Now at the helm of the agency that governs trading at the largest stock markets in the world, Gensler will obviously play a key role in the Biden administration’s oversight of the U.S. financial services sector. His ascent to office comes during what might be called a period of heightened scrutiny, a state of affairs that came in the wake of controversy over the GameStop stock craze and the role of platforms like Robinhood and firms such as Citadel Securities, which play significant yet publicly invisible roles in the proverbial engine room of Wall Street. As Congress scrutinizing activities like naked short selling and payment for order flow, Gensler’s agency comes into view — particularly as the Biden administration seeks to take a potentially different tack compared to the Trump years. Continue reading “Article: Gary Gensler is now head of the SEC. What comes next?”