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Sam Spencer

Articles by Sam Spencer

Michael Novogratz Warns China’s Digital Currency Revolution Might Undermine U.S. Reserve Status

November 11, 2019

China is on a fast track to becoming a global digital currency power. Billionaire Michael Novogratz warns that the country might undermine the United States’ reserve status. Some politicians are wary about embracing cryptocurrency networks. Billionaire Michael Novogratz has warned that the United States’ reserve status is likely to be undermined by China’s blockchain and cryptocurrency revolution. In the forewarning, he underscores that China is already ahead in some areas such as fintech, and the United States is merely playing catch-up. Novogratz Warns on China His remarks came in the wake of a renaissance in China to further blockchain development and boost the yuan into becoming a globalized currency. Recent statements by Chinese President Xi Jinping pledging support for the industry

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China’s Central Bank Supports Blockchain, but Here’s Why It Won’t Impact Crypto Prices

November 7, 2019

The People’s Bank of China (PBOC) and the Shanghai commerce commission have issued a joint statement signaling their support for blockchain use in commerce. China Goes All-In on Blockchain According to the agencies, decentralized technology can be used in trade finance to resolve asymmetries and validate transactions. In the published document, the two government institutions underscore the cost-effectiveness of blockchain systems, while affirming their appropriateness in international trade. Just two weeks ago, Chinese President Xi Jinping proclaimed the need to develop blockchain technology. Speaking at a gathering of the Political Bureau of the Central Committee officials, Xi said that blockchain applications could be used in a myriad of sectors. He listed digital finance,

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What Craig Wright’s Non-Payment Saga Means for Bitcoin Markets

November 4, 2019

Craig Wright has declined to pay Dave Kleiman’s estate a $4.5 billion settlement.
The plaintiff and defendant had agreed to enter into a non-binding agreement with the promise that Wright would pay.
The U-turn has reset litigation proceedings.
It looks like the Satoshi Nakamoto saga will continue into the next year. According to the latest news, Bitcoin SV founder Craig Wright has declined to pay the Kleiman Estate a 500,000 Bitcoin ($4.5 billion) settlement.
The estate, which is represented by Ira Kleiman on behalf of Dave Kleiman, is reported to have entered into a non-binding agreement with the blockchain scientist in September to settle the case away from the courts. Wright is alleged to have implied that he had the means to pay the sum, but on Oct. 30, he broke the

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Crypto Pioneer Gifts Bruce Willis with Bitcoin in Gold-Plated Wallets

November 3, 2019

Crypto entrepreneur Bobby Lee has gifted Bruce Willis some bitcoin in Ballet wallets.
The digital coins were handed to him as Christmas gifts for his daughters.
Crypto investors and celebrities invested in digital currencies are increasing awareness efforts.
Action movie star Bruce Willis has received a surprise gift after bumping into bitcoin crusader, Bobby Lee. Lee is the CEO and co-founder of BTC China. His company, BTCC, was founded in 2011 and is credited as the first bitcoin exchange in the country. Most recently Lee launched the Ballet cryptocurrency wallet.
Narrating the encounter on Twitter, Lee said that he was lucky to have sat next to the veteran actor while on a plane to China. He seized the moment to introduce bitcoin and his company’s Ballet crypto wallets to the

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Bitmain’s US IPO Plans Could Go Up in Smoke

November 2, 2019

Bitmain, a leading bitcoin miner, has secretly filed for an IPO that is sponsored by Deutsche Bank, a German multinational company, as reported by Tencent News. The company has been struggling to bounce back since crypto winter. The black swan event dampened demand for cryptocurrency mining machines, causing profitability to plummet. The reported secret filing with the U.S. Securities and Exchange Commission (SEC) will help raise badly needed capital. Bitmain is reportedly looking to raise between $300 million and $500 million through the fundraiser.
The company had initially sought to raise about $3 billion via the Hong Kong Stock Exchange (HKEX) but faced pushback from regulators. It has hired Zheng Hua, a former NASDAQ China representative, as a project consultant to increase

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Was Hack on Indian Nuclear Plant Used to Test Cyber Intrusion Abilities?

October 31, 2019

The Nuclear Power Corporation of India has confirmed the discovery of malware on its network. According to a statement, the infection was found on a central computer that was not connected to the more sensitive internal systems.
Cybersecurity experts have linked the harmful code to North Korea’s Lazarus Group. The hacker unit uses a spectrum of vector attacks to steal funds for the administration. Pukhraj Singh, a former researcher at India’s National Technical Research Organization (NTRO), indicated via social media that the malware could be traced back to a recent VirusTotal finding.

Dubbed Dtrack, the version uploaded to the platform was specifically coded to target the institution’s IT infrastructure. An analysis of the virus reveals that it was set up to collect data on the

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