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Nick Marinoff



Articles by Nick Marinoff

Mark Cuban: A New Form of Crypto Crime Will Emerge This Year

1 day ago

Throughout 2022, there were many trends surrounding crypto crime. Many romance scams popped up, clearly proving it was a popular method amongst cyberthieves of getting money that wasn’t theirs. We also saw examples of exchange fraud like with FTX. Now, billionaire investor and crypto bull Mark Cuban says a new crime trend will occur in 2023, though he freely admits he’s suggesting this based purely on his own thoughts, and he has no evidence to suggest it will truly occur.
Mark Cuban: A New Danger Is Coming
In a recent interview, Cuban says that wash trades are likely to become very prominent in the year 2023, though he says this idea stems from instinct, not from fact-based data. He stated that the problem will occur mostly on centralized exchanges, such as what

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New York Sues Crypto Lending Network Celsius and Its Former CEO

1 day ago

The state of New York and its attorney general Leticia James are suing former crypto lending network Celsius for allegedly engaging in fraud and misusing customer funds.
New York Comes Down Hard on Celsius
The sentiment is that FTX wasn’t the only company to use traders’ money for personal gains this year. Celsius really rang a lot of negative bells last summer when it first announced it was going to be halting all withdrawals given that speculation and the volatility of the market had become way too big for its executives to handle. The halts would be put in place indefinitely and customers had no idea regarding when they would be able to get their money back.
Things didn’t quite stop there, however. It was just a few weeks later when the company announced that it

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Bitcoin Is Now 14 Years of Age!

1 day ago

Crypto fans everywhere are wishing bitcoin – the world’s number one digital currency by market cap – a happy birthday, as just a few weeks ago, the beloved asset turned 14.
Bitcoin Is 14 Years Old
Bitcoin’s whitepaper was officially introduced on Halloween of 2008, but it wasn’t until January of 2009 that the currency began getting mined and added to blockchain circulation. While the whitepaper may have been the asset’s first real introduction to the world, many see that first instance of mining as bitcoin’s true birthing moment, which is why so many choose to celebrate in January rather than in October.
Bitcoin has been declared dead hundreds of times since it first came to fruition. Its rise to the top has been long, hard, and tumultuous as we’re still seeing today.

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Solana Praised Again By Buterin, Price Surges 10%

2 days ago

Not long ago, Live Bitcoin News published an article talking about how poorly the Solana cryptocurrency was doing. The asset was crashing and burning likely due to its ties to the now fallen crypto exchange FTX and its disgraced head executive Sam Bankman-Fried, and while things aren’t fully looking up for the currency just yet, it’s garnering a heavy load of support from crypto developers such as Vitalik Buterin, the co-creator of popular crypto network Ethereum.
Solana Has Recorded a Price Jump
In the previous article, it was discussed that Solana has deep ties to the fallen exchange and has since crashed by more than 96 percent since reaching an all-time high during the month of November 2021. During that time, it was trading for just shy of $260 per unit. At the

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Connecticut Police Get $23K in Stolen Crypto Funds Back

2 days ago

Members of a local police force in the state of Connecticut have helped a theft victim recover roughly $23,000 in stolen crypto funds.
Police Are on the Case!
The money was deposited under false pretenses to several nearby bitcoin ATMs after a complaint was filed in September of last year. The victim had allegedly been scammed into depositing the money into various machines around the state, and the case was noted by the Milford Police Department. It was stated that more than $41,000 had been taken from the victim.
In a statement, the police agency explained:
The funds were traced to two major cryptocurrency exchanges located in both the United States and the Cayman Islands. During the month of September, SOCITF investigators were able to recover a portion of the

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Coinbase to Pay Hefty Penalty Fees to New York Lawmakers

2 days ago

Coinbase – one of the largest and most popular digital currency exchanges in the world – has announced it will pay roughly $50 million in settlement fees to New York regulators for allegedly failing to comply with the Empire State’s anti-money laundering laws.
Coinbase Allegedly Did Not Comply with Anti-Money Laundering Laws
Regulators say that Coinbase has several older accounts that it hasn’t bothered to apply anti-money laundering laws to. There have been several thousand transactions with these accounts over the past four years that raised several red flags that Coinbase has allegedly done nothing about. The company must provide $50 million in penalties to New York as well as an additional $50 million to boost its compliance efforts.
The chief legal officer of the

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The Federal Reserve and Other Agencies Are Warning Banks About Crypto

3 days ago

U.S. regulators like the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency have established a joint statement warning banks all over the world about the alleged risks and problems that come with crypto trading.
The Federal Reserve Feels Crypto Is Problematic
These agencies say that banks need to take these risks seriously and implement the necessary security measures to keep themselves and their customers safe. The statement read:
The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto asset sector… It is important that risks related to the crypto asset sector that cannot be mitigated or controlled do not migrate to the banking system.
The

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Some Want the Crypto Moratorium in New York to Last Longer

3 days ago

Not long ago, the state of New York imposed a moratorium on crypto mining, thus barring any firms that did not fully rely on clean energy from entering its borders and setting up shop. Initially, the ban was set to last a total of two years, though now, local legislators are considering extending the ban.
The New York Crypto Moratorium Could Be Extended
A town board meeting has been put on the calendar regarding the moratorium in the region of Massena. Town supervisor Susan J. Bellor explained in an interview:
We have a public hearing scheduled for next Tuesday when we have our organizational meeting. After our installation of both Francis and Debra, we’ll get right to the public hearing on that.
The goal is to keep the moratorium in place until official crypto

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Former FTX Exec Sam Bankman-Fried Enters Not Guilty Plea

3 days ago

Sam Bankman-Fried – the former head executive of the now fallen crypto exchange FTX – has pleaded not guilty to all counts of fraud. This means his case will potentially be heard by a jury.
Sam Bankman-Fried Says He’s Not Guilty
During a recent testimony, Bankman-Fried refused to speak for himself. Instead, it was his lawyer Mark Cohen who entered the not guilty plea on his behalf. Bankman-Fried’s mother was in attendance and sitting behind her son as the judge who will preside over the former crypto head’s case – Lewis Kaplan – monitored the courtroom.
Sam Bankman-Fried currently faces eight separate charges of fraud and conspiracy. Federal prosecutors say the crypto executive engaged in one of the biggest digital currency fraud schemes in the history of the space.

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Erik Voorhees Sees a $40K Price for BTC in 5-6 Months

4 days ago

Erik Voorhees, the CEO and founder of crypto exchange Shape Shift, sees bitcoin – the world’s number one digital currency by market cap – reaching a relatively modest price of about $40,000 at some point this year.
Erik Voorhees: BTC Will Be at $40K
2022 was a rough period for bitcoin. The asset fell by more than 70 percent from its all-time high of $68,000 per unit and dropped into the mid-$16,000 range. Things have been bad for the currency and its altcoin cousins for some time, though there is good news in that we are seeing similar patterns to what was witnessed in the crypto arena around four years ago. If these patterns continue, 2023 could be the year in which a dose of healing is delivered.
As we all remember, for example, 2018 saw the currency fall from a

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Crypto Bankruptcy was Big Last Year, but was There a Positive Note to It All?

4 days ago

2022 was a year wrought with bankruptcy and the exiting of several crypto companies, but many analysts do not feel this was necessarily a bad thing.
Bankruptcy was Big in 2022, but Things Might’ve Been Better Than We Thought
On the surface, one could argue that 2022 was the worst year for crypto since 2018. The price of bitcoin, for example, fell by more than 70 percent after the world’s number one digital currency by market cap hit a new all-time high in the final months of 2021. During that time, BTC rose to a whopping $68,000 per unit, though after that, it endured a series of losses that brought it down into the mid-$16K range.
The whole crypto space followed suit and wound up losing about $2 trillion in valuation. On top of that, many high-ranking crypto firms –

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Valkyrie Investments Seeks More Control of the Grayscale Bitcoin Trust

4 days ago

Valkyrie Investments is working to become the new sponsor and manager of the Grayscale Bitcoin Trust, arguably the largest digital currency fund in existence.
Valkyrie Investments Wants a Bigger Role in Grayscale’s Environment
Based in Nashville, Tennessee, Valkyrie is tasked with managing $180 million in assets. In late December, the firm announced what’s to be called the Valkyrie Opportunistic Fund, which will take advantage of discounts being offered through Grayscale Investments. Valkyrie will thus increase its bitcoin holdings in the fund so it can realize the full value of bitcoin. It will also pursue additional bitcoin and digital currency opportunities for the sake of its customers.
In a statement, Steven McClurg – the co-founder and CIO of Valkyrie

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Crypto Asset Recovery Can Reopen the Door to Your Digital Stash

5 days ago

Have you lost your crypto password and can’t gain access to your funds? Crypto Asset Recovery can help you with that.
Crypto Asset Recovery Helps with Lost Passwords
Crypto Asset Recovery is a father and son team that works to help people that have lost access to their digital asset portfolios. Usually, the money is locked up in a secure crypto wallet or encrypted somewhere. The people in question cannot engage in a lost-their-password process to set up a new access point.
Last year, Chainalysis – a blockchain analysis firm – released a report claiming that as much as 23 percent of the world’s total bitcoin units have been lost to time simply because people can no longer access them due to lost passwords. Today, this would be worth about $62 billion.
Crypto Asset

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Millennials Are Throwing More Money Into Crypto

5 days ago

Despite all that’s happened over the past 12 months, millennials see value in crypto. In fact, they’re betting big on digital assets and relying on them to comprise their retirement portfolios.
Millennials Are Still Big Crypto Fans
This is good in that millennials clearly understand the value of the crypto space. They see the arena as something big that could potentially bring them many rewards in the future, but several financial analysts are telling said millennials not to go crazy. They say crypto is still a largely unregulated industry, and that betting too big on it could result in heavy losses and similar problems.
Clark Hodges – co-owner of Hodges Capital Management – said in an interview:
No, no, no. As I sit here and contemplate millennials considering

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When Will Bitcoin Bottom Out? Analysts Weigh In

5 days ago

We’re early into 2023, and with 2022 being such a crazy year for bitcoin fans, it appears many analysts are warning about what we should be aware of in these next 12 months so traders can make appropriate investing decisions and keep themselves safe.
Bitcoin May Bottom Out Soon
One of the people to talk about what we should expect is Tim Enneking, the managing director of Digital Capital Management. He says one of the big things that’s happened is crypto is beginning to mirror more traditional assets like stocks. This has ultimately made it vulnerable to economic issues like inflation.
In an interview, he stated:
The biggest variable affecting BTC at present is, unfortunately, correlation. Assuming correlation remains high (and there is no reason to assume otherwise),

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Customers Are Suing Coinbase, Claim the Exchange Had Weak Security Practices

6 days ago

A group of investors that filed a class-action lawsuit against popular digital currency exchange Coinbase are now withholding their account information as a means of preventing their case from moving into arbitration territory. They want to see their situation escalate to the American court system and placed before a judge.
Could Coinbase Find Itself in Court?
The customers allege that the security measures initiated by Coinbase against hackers and cyberthieves were weak and resulted in the loss of funds. In addition, they say Coinbase has worked hard not to compensate those who have fallen victim to criminal activity.
One plaintiff mentioned in the lawsuit says that he had $6,000 in crypto funds illegally taken from his wallet and moved to an address that wasn’t his.

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Investors Are Suing the Gemini Exchange Over Alleged Fraud

6 days ago

Investors in the Gemini exchange in New York are suing the company and its founders – Cameron and Tyler Winklevoss – for fraud.
Gemini Is Being Sued
It is alleged in a class-action lawsuit that the company is in violation of the Exchange Act. A complaint was filed against Gemini and its creators in the US Southern District of New York, and it centers around the firm’s Earn Program, which offers as much as 7.4 percent interest to traders who take part in it. The program halted all offerings in the month of December in 2022, meaning all investors that still had money within its confines suddenly couldn’t get ahold of their funds.
The Earn Program was allegedly shut down due to the company’s ties to the now fallen FTX exchange, which filed bankruptcy in late November

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Solana Keeps on Crumbling Due to FTX Ties

6 days ago

Solana – a crypto that’s otherwise known as SOL to its personal holders – continues to shed value given it’s so tied to the fallen crypto exchange FTX and its disgraced head executive Sam Bankman-Fried.
Solana Isn’t Doing Too Well
FTX is currently in the process of filing bankruptcy. Sam Bankman-Fried is accused of lending out approximately $10 billion in user funds to his other company Alameda Research, which was supposed to be a separate and independent entity from FTX. By conjoining them through loan activity, he broke several agreement terms and is now awaiting trial for fraud and other charges.
He is in California at his parents’ home. The pair have signed a $250 million bond pledging their home and other personal assets as collateral should SBF choose to flee

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Top Celebs and Investors Still Stand with Bitcoin

7 days ago

Bitcoin had a rough 2022, but that hasn’t stopped high-ranking celebrities and investors from praising it. They feel that while bitcoin may have had a rough 12 months, things can always return to form, and they’re not turning their backs on the world’s number one digital currency by market cap yet.
Bitcoin Is Still the Apple of Many Celebrities’ Eyes
Bitcoin hit a new all-time high of about $68,000 per unit in November of 2021. Just a year later, the currency was trading in the high $16,000 range. That’s a valuation dip of more than 70 percent. It’s a sad and ugly sight to see, yet there are still so many individuals out there that have hope that the currency is not dead yet.
One of those people is NSA whistleblower Edward Snowden, who now calls Russia home after

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Report: North Korea Has Made Off with More Than $1 Billion in Crypto

7 days ago

The top spy agency of South Korea stated its neighbor North Korea has stolen an estimated $1.5 trillion won worth of cryptocurrency funds over the past five years. This is equivalent to about $1.2 billion in USD. More than half of that money was stolen in the year 2022 alone.
North Korea Is Still Stealing Crypto
North Korea has long been in the habit of stealing digital currency and engaging in crypto hacks and related activities to garner the funds it needs to continue building its nuclear arsenal. The country also experienced a weakening economy during the days of the COVID pandemic and has also suffered at the hands of the U.S., which has regularly imposed sanctions against the nation. Thus, the country has long been in desperate need of fast cash, and it’s often

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Calgary, Canada Refuses to Give Up on Crypto

7 days ago

2022 was a bad year for crypto. Bitcoin and many leading forms of digital currency have crashed, but that doesn’t mean all the crypto companies out there are turning their backs on their respective industries. Several companies in Calgary, Canada – like Bitvo Inc. – still believe crypto has a fighting chance, and they’re refusing to give up on this growing financial arena.
Calgary Has Tried Hard to Incorporate Crypto
Bitvo is a unique firm in that FTX – the now failed crypto exchange run by Sam Bankman-Fried – was all set to acquire the Calgary-based trading platform in June. Given that FTX has completely crashed and burned, Bitvo has said the entire deal will not go through, now. It has also said it had no direct links to FTX, nor is it part of the company’s ongoing

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Kabosu, the Dogecoin Shiba Inu Dog, Diagnosed with Serious Illness

8 days ago

Kabosu – the cute little Shiba Inu dog that inspired the memes of such famous digital currencies as Dogecoin – has been diagnosed with liver disease and leukemia according to her owner Atsuko Sato.
Kabosu Is Very Ill
The news is indeed sad for both animal lovers and crypto fans alike. Kabosu will likely never know how many people she has inspired with her cute little face, nor will she ever realize that her complexion and furry countenance arguably gave birth to one of the biggest bitcoin rivals to ever exist in Dogecoin.
Her owner made the following announcement on Twitter:
Right now, the liver is very bad, and jaundice appears, but antibiotics will definitely improve.
Originally a rescue pup, Kabosu voluntarily stopped eating and drinking on or around Christmas time

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Argo Blockchain Sells Mining Facility to Galaxy Digital to Stay Afloat

8 days ago

Argo Blockchain – one of the largest and most powerful digital currency mining enterprises in the world – has announced a new plan that will allow it to avoid bankruptcy and become another company that falls victim to the ongoing bear conditions of the crypto arena.
Argo Blockchain Won’t Have to File Bankruptcy
Argo has agreed to sell its bitcoin mining facility (called Helios) for $65 million to Galaxy Digital, the hedge fund managed by Mike Novogratz, a billionaire investor and big-time fan of bitcoin and other forms of crypto. The wealth management firm will also provide Argo with a $35 million loan to help it restructure its operations. The loan was secured through a collateral package that came in the form of Argo mining equipment.
In a statement, Galaxy Digital

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Kraken Is Leaving Japan, Laying Off Several Employees

8 days ago

Popular digital currency exchange Kraken has announced it is closing its Japan branch this month and laying off all its employees in the Land of the Rising Sun.
Kraken Is Stepping Away from Japan
The Japanese division of Kraken is called Payward Asia. In a recent blog post, the company mentioned that it’s going to be ceasing all its crypto trading services as of January 31, 2023. This will mark the second time Kraken has left the Japanese market, the first taking place in 2018. Up to that point, the company had been desperately trying to set up operations there for the past four years to no avail.
However, two years later in 2020, it made a successful attempt to establish a presence in the region after it was able to complete the necessary registration process with

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Paul Krugman Isn’t a Fan of Either BTC or Elon Musk

9 days ago

Paul Krugman – a Nobel Prize-winning economist – recently published a piece saying that Tesla stock is a lot like bitcoin. He also commented that the CEO of Tesla – Elon Musk, who is a big crypto fan and has since gone on to purchase Twitter – couldn’t be trusted to “feed his cat.”
Paul Krugman Isn’t Crazy About Either Musk or BTC
The bitcoin-Tesla comparisons came given that both assets have plunged heavily following solid jumps in late 2021. Bitcoin, during that time, rose to a whopping $68,000 per unit, and Tesla stock also hit a new all-time high. However, since then, Tesla has fallen by more than 73 percent, and bitcoin’s dips have also seen it lose about 70 percent of its value. In that sense, they appear to be one and the same.
In his piece, Krugman said that

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MicroStrategy Sells Some BTC… Then Turns Around and Buys More

9 days ago

MicroStrategy – the famed software giant turned institutional bitcoin bull – has done something many of us thought it incapable of doing: it’s selling some of its bitcoin.
MicroStrategy Sells, Then Buys, BTC
MicroStrategy announced it had sold some of its BTC reserves on December 22, 2022. The company says it did so for tax purposes, but that it’s also going to use some of the proceeds to purchase additional bitcoin, suggesting that while executives are arguably trying to play everything a little straighter, they still haven’t fully grasped the lessons of the past.
MicroStrategy sold about 704 bitcoin units, which at the time, went for about $11.8 million. This is a huge dip in profit for the firm considering how much those units were likely purchased for. The company

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The DOJ Is Investigating the Theft of FTX Crypto Funds

9 days ago

The drama surrounding the fall of famed crypto exchange FTX just keeps getting bigger and bigger.
FTX Will Be With Us a Long Time
It has been announced that several prosecutors are looking into the disappearance of approximately $370 million in crypto funds that vanished from the exchange just hours after its head executive, Sam Bankman-Fried, filed for bankruptcy.
The prosecutors investigating have been hired by the Department of Justice (DOJ), which has frozen several remaining account funds to ensure they are not taken or dabbled with while the bankruptcy case proceeds or while SBF awaits his upcoming trial in California.
Blockchain analysis firm Elliptic announced two months ago that the funds stolen off FTX were later exchanged for ether on decentralized

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Andy Yen Is in Favor of Crypto Regulation

10 days ago

Andy Yen is the CEO and co-founder of Proton, a privacy-centered organization that seeks to provide a whole new (autonomous) version of the Internet.
Yen Wants to See Change in the Crypto Space
In a recent interview, he gave his thoughts on bitcoin, crypto, and what traders can expect in terms of legislation and what the space will hold.
In the past, Yen has gone on record about being a bitcoin and crypto supporter. Right now, bitcoin is only accepted as a form of payment amongst limited agencies and enterprises, and given the circumstances surrounding bitcoin, Yen himself is not entirely sure about what will happen. He’s not sure if he’ll continue to hold it or not, nor is he sure if Proton will accept payments via the Bitcoin Lightning Network. In the interview, he

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Gold Is Making Bitcoin Look Pretty Bad

10 days ago

It appears bitcoin is taking another beating, only this time, it’s from its rival gold. The precious metal has long been considered a solid commodity and a hedge against a wide array of economic problems and similar troubles, but it looks like the asset has recently hit a new six-month high and is now trading for more than $1,800.
Bitcoin Keeps Suffering While Gold Is Jumping
This is not necessarily good for bitcoin because it’s done nothing but taken serious plummets over the time that it’s taken for gold to surge. The world’s number one digital currency has fallen by about 70 percent since hitting its all-time high of about $68,000 in November of 2021. Since then, it’s fallen into the high $16,000 range, and many people who were once believers are turning their

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Two Men in Nigeria Arrested for Crypto Fraud

10 days ago

Two men in Nigeria have been arrested for allegedly taking part in crypto fraud. The pair obtained quite a bit of money by cheating investors and lying to them about their potential returns.
Two Arrests for Crypto Fraud in Nigeria
Force PRO – which is the national cybercrime force in Nigeria – said that the duo admitted to being part of a larger syndicate that specialized in defrauding people of their hard-earned funds. The syndicate is reported to attack investors in foreign countries by assuming false identities and making romantic promises to those they seek to victimize.
In a statement, the police force stated:
In the extant case, a report on their activities was received from Incheon Metropolitan Police Agency in Korea through the Interpol National Central Bureau

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