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Trump Bans US Purchases of Venezuelan Cryptocurrency

Venezuela created an oil-backed currency in a bid to salvage its economy

(Newser) - The Venezuelan government hopes its oil-backed cryptocurrency will help right the nation's flailing economy, but a move by President Trump may complicate the bid to outmaneuver US sanctions. Trump on Monday issued an executive order immediately banning all use by Americans of Venezuela's "petro" currency. Per the... More »

Bitcoin Plummets After Google Ad Ban

Google is doing away with cryptocurrency-related ads

(Newser) - Google says it is going to ban advertisements for cryptocurrencies such as bitcoin, as well as related content like trading advice and cryptocurrency wallets. The new policies, which also ban other complex financial products, were announced Wednesday and will go into effect in June. The move follows a similar step... More »

In Pacific NW, an 'Intensifying Guerilla Warfare' Over Bitcoin

Mid-Columbia Basin's space, hydroelectric power has made it top site for bitcoin mining in US

(Newser) - You'd think any old region would do for a bitcoin mining business : Just set up a computer, solve a bunch of sophisticated math puzzles, and start raking in that sweet virtual currency. But as Paul Roberts' deep dive on Politico notes, that kind of computer power can require "... More »

Guy Who Says He Invented Bitcoin Sued for Billions

Craig Wright accused of stealing up to $10B from deceased partner's estate

(Newser) - Whether or not Craig Wright invented bitcoin , his early involvement in the cryptocurrency is clear. According to the family of Wright's former business partner, Dave Kleiman, the pair founded a bitcoin mining and research firm that controlled between 550,000 and 1.1 million bitcoins by the time of... More »

Venezuela Says It Has Found 'Kryptonite' Against US

Country introduces own version of bitcoin

(Newser) - Cash-strapped Venezuela on Tuesday became the first country to launch its own version of bitcoin, a move President Nicolas Maduro celebrated as putting his country on the world's technological forefront. In its first hours on the market, the so-called petro racked in $735 million worth in purchases, Maduro said,... More »

Top Banker Calls Bitcoin a 'Ponzi Scheme'

Cryptocurrency sinks below $6K mark

(Newser) - Bitcoin has been taking a beating in recent days along with more traditional investments. The cryptocurrency, which has been sliding downhill since peaking above $19,000 in December, dipped below $6,000 early Tuesday for the first time since October, though it later recovered to around $6,500, Bloomberg reports.... More »

50 Cent Forgot He Has Bitcoin. It's Now Worth Over $7.5M

Best accidental businessman in the game

(Newser) - 50 Cent just might be the world's greatest businessman (that bit of bankruptcy notwithstanding). Not only did the rapper make a reported $100 million from his investment in Vitamin Water when it sold to Coca-Cola, but the Guardian reports he recently became a bitcoin millionaire—apparently without realizing it.... More »

Bitcoin Price Tumbles as S. Korea Discusses Ban

Other digital currencies also dropped

(Newser) - Prices of bitcoin and other digital currencies skidded Tuesday after South Korea's top financial policymaker said a crackdown on trading of cryptocurrencies was still possible, the AP reports. Finance Minister Kim Dong-yeon said in an interview with local radio station TBS that banning trading in digital currencies was "... More »

Warren Buffett Thinks Bitcoin Will End Badly

Cryptocurrency falls on talk of South Korea ban

(Newser) - Warren Buffett's advice on bitcoin and other cryptocurrencies can be summed up in two words: Stay away. In an interview with CNBC on Wednesday, the billionaire Berkshire Hathaway investor said that "in terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a... More »

Kodak Got Its Stock to Triple by Using Some 'Hot Buzzwords'

The one-time film company is creating its own cryptocurrency 'because 2018'

(Newser) - Time was, when flagging companies wanted to appear hip they would give a mascot sunglasses and a skateboard. Well, it appears blockchain and cryptocurrency are the new sunglasses and skateboard. Following on the heels of Long Island Ice Tea Corp., which changed its name to Long Blockchain Corp. in December,... More »

Why a Tech Pioneer's $59B Fortune May Be Fleeting

Ripple CEO Chris Larsen's riches may just be part of cryptocurrency 'hysteria,' analyst says

(Newser) - Chris Larsen may not be the household name that Mark Zuckerberg is, but with the amount of wealth he has (at least on paper), he may not care. Forbes notes Larsen has in his personal holdings 5.19 billion XRP tokens from his virtual-currency company, Ripple, in addition to a... More »

Bitcoin's Crazy Increases Now Mirrored by Crazy Drops

Crytopcurrency is having a very bad Friday

(Newser) - All the frenzied headlines about Bitcoin's crazy rise are starting to reverse themselves. "Plunges" and "plummets" are the common verbs Friday morning, with the price of the cryptocurrency falling more than $3,000 to below $13,000 on some exchanges before rebounding a bit, reports CNBC . That'... More »

Iced Tea Company's Stock Soars 500% After Name Change

Long Island Iced Tea Corp is no more

(Newser) - A New York-based company saw its shares spike nearly 500% in pre-market trading Thursday after announcing its new focus would be exploring and investing in the technology that underpins cryptocurrencies like bitcoin—which wouldn't be so remarkable but for the fact that it previously made a name for itself... More »

What Stands Between Guy and $127M Bitcoin Fortune: Garbage

James Howells' situation has gotten worse as bitcoin's has improved

(Newser) - When covering the story four years ago, Newser's headline read, "$7.5M Bitcoin Fortune Buried in Landfill." That fortune ended up in a Welsh landfill after James Howells threw out a hard drive over that summer while cleaning up his workspace. On it was the cryptographic "... More »

Prosecutors Scramble to Sell Seized Bitcoin

Utah suspect's cache has exploded in value

(Newser) - US attorneys in Utah prosecuting a multimillion-dollar opioid drug ring are moving quickly to sell seized bitcoin that has exploded in value to about $8.5 million since the alleged ringleader's arrest a year ago. The US Attorney's Office for Utah cites the digital currency's volatility in... More »

Cops: At Gunpoint, Man Forced to Give Cryptocurrency Info

Authorities say $1.8M in cryptocurrency was then stolen

(Newser) - With the value of cryptocurrencies soaring, authorities warn that people could be ripped off by sophisticated hackers—or by crooks using more old-fashioned methods. New Jersey authorities say Louis Meza, a 35-year-old cryptocurrency investor, lured a friend into a minivan, where a gunman demanded his keys, his phone, and the... More »

Bitcoin Futures Surge After Debut on Major Exchange

Trading began in Chicago on Sunday night

(Newser) - The first-ever bitcoin future jumped after it began trading Sunday as the increasingly popular virtual currency made its debut on a major US exchange. The futures contract that expires in January surged more than $3,000 to $18,010 four hours after trading launched on the Chicago Board Options Exchange,... More »

This Might Be the Biggest Reward Ever for Missing Pets

Michigan owners offer $100K in bitcoin after 4 felines go missing after fire

(Newser) - The owners of four cats that went missing after a house fire last month are getting reports of sightings in their Detroit-area neighborhood—and they're offering a lucrative reward to anyone who can help get one or all safely home. One odd twist: two of the cats are in... More »

As Bitcoin Hits $15K, a Warning From Dante's Inferno

It comes 12 hours after it hit $14K

(Newser) - To say it's a meteoric rise isn't too hyperbolic. Bitcoin hit $15,000 early Thursday, just 12 hours after it passed the $14,000 mark, reports Business Insider , which puts the digital currency's 36-hour increase at more than $3,000. To illustrate the massive growth another... More »

As Bitcoin Sets Record After Record, Warnings Grow Louder

The cryptocurrency hit $11K for first time Wednesday

(Newser) - What goes up must come down. CNBC reports that bitcoin passed the $11,000 mark for the first time Wednesday just hours after surpassing $10,000 for the first time. Wednesday was the sixth day in a row the cryptocurrency hit a record high, increasing its value 15%, according to... More »

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