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Bitcoin Fell After the Resignation of Liz Truss

Despite all the economic and financial turmoil in the United Kingdom, bitcoin has not taken advantage of the situation and dropped even further in October, even though that period has historically been bullish for the world’s number one digital currency by market cap. Bitcoin Should Have Risen, but the Opposite Happened October saw the resignation of UK prime minister Liz Truss, who set a record after serving only 44 days in her post. The news brought an onslaught of new...

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Study: The United Kingdom Dominates Europe’s Crypto Arena

In a surprising twist, a new study suggests that the United Kingdom is at the head of the crypto scene in Europe. The study – conducted by blockchain analysis firm Chainalysis – says that the land of tea, crumpets, and top hats is number one when it comes to digital currency activity across the continent. The United Kingdom Is, Well, King! This is an odd situation given that the United Kingdom has not been the most crypto-friendly country. In fact, regulators have sought...

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UK Closes Crypto Platform PGI Global for Defrauding Investors With Over $700,000

The United Kingdom High Court shut down the cryptocurrency firm PGI Global for allegedly running a fraudulent scheme. The company promised investors returns of up to 200% if they purchased digital assets through its platform, but consumers never received such profits. The Latest Crypto Scam in the UK? According to an official press release, the British authorities detected PGI Global’s suspicious activities last month and closed it after determining that the firm stole more...

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New UK Prime Minister Rishi Sunak: Crypto Believer or CBDC Backer?

Rishi Sunak is all set to take over the role of the prime minister of the United Kingdom in a few days. Amidst dire economic headwinds, Sunak was voted into office after Liz Truss, who only served a record-breaking 45 days, announced her resignation as a result of a maelstrom of criticism over her failed fiscal policies. Sunak, for one, is a proponent of the crypto industry and had previously championed regulation. UK Crypto Regulation During his stint as the Finance...

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18 Months Jail Time for Hacker Who Sold Stolen Ed Sheeran Songs for Bitcoin

The person who stole unreleased songs by Ed Sheeran and other musicians has been sent to prison for a year and a half. He sold at least two of Sheeran’s songs on the dark web in exchange for bitcoin. Jailed After Selling Unreleased Songs The investigation began in 2019 when several musical agents complained to the New York District Attorney that someone had exploited the online accounts of some of their clients. The unknown hacker, called Spirdark, began stealing unreleased...

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UK Inflation Surges to 40-Year Highs, What Does it Mean for Bitcoin?

The inflation rate in the United Kingdom surpassed 10% for the first time in the past 40 years. Local economists warn that the figures could rise to 11% in the following months, driven by soaring food and fuel prices. What does it mean for Bitcoin, though? Unseen Inflation in the Last 40 Years The past few years have been rather problematic for the UK and its economy. At the beginning of 2020, the country left the European Union after 52% of the locals voted in favor of...

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Britain’s Pablo Escobar to Be Released From Prison but ‘Banned’ From Using Bitcoin (Report)

Curtis Warren – a British drug lord who was found guilty of smuggling cannabis – is due to be released from prison next month. The authorities, though, will supposedly put him back behind bars for five years if he uses WhatsApp, Facebook Messenger, or interacts with cryptocurrencies, including bitcoin. Strict Measures to Stay on the Loose Warren (also known as “Britain’s Pablo Escobar”) has been a problematic figure for the European authorities for the past decades. In 1996,...

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How Drake Lost $600K Worth of BTC Betting on Football

The Canadian rapper, singer, and actor Aubrey Drake Graham (better known as Drake) bet a little over $600,000 worth of bitcoin on the English soccer team Arsenal to beat Leeds United and on FC Barcelona to win “El Clasico” against Real Madrid.  Unfortunately for him, the club from the Spanish capital defeated its biggest rival 3-1 at its home stadium Santiago Bernabeu.  Drake Keeps Betting BTC A few days ago, the renowned musician inked a deal with one of the most successful...

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Multiple Queen Elizabeth Memecoins Popped Hours After Her Passing

Queen Elizabeth II passed away yesterday (September 8) at the age of 96, after wearing the British crown for 70 years and 214 days. The death of the longest reigning monarch in the UK’s history was met with sorrow all over the globe, but it also attracted the crypto community. Hours after the news, memecoins like “Queen Elizabeth Inu,” “Queen Doge,” “God Save The Queen,” “London Bridge Is Down,” “Queen Grow,” “Rip Queen Elizabeth,” “Elizabeth II,” and “Queen Inu II” appeared...

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UK Regulators Slam Crypto-Friendly Revolut Over Flawed Audits: Report

UK digital bank Revolut has come under the regulator’s scrutiny for inconsistencies in its auditing process. Citing sources familiar with the matter, FT reported that the Financial Reporting Council (FRC) criticized an audit by accountancy firm BDO of an unidentified “financial services provider” as “inadequate.” The FRC further revealed that the “risk of an undetected material misstatement” was unacceptably high. It was later identified by FT that Revolut was, in fact, the...

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