The Chinese Police Have Shut Down an Illegal World Cup Gambling Platform 954

scam illegal

According to the Chinese main news portal Xinhua, the law enforcement bodies have confiscated around $1.5 million in digital currencies and arrested 6 people due to the illegal gambling activities.

The abovementioned platform first caught attention of the police back in May. It was loudly advertising its services, claiming that its list of payment options included BTC, ETH and LTC besides regular fiat currencies.

Although it was done to attract users. but it actually attracted the police, and they began investigating the case. A month later, the results of the investigation were made public.

The platform turned out to be a regular gambling outlet, which specialized in bets on football matches. However, its developers somehow managed to incorporate cryptocurrency payments into it.

According to the police, the platform was used by a little less than 500 thousand people with a total flow of money exceeding $1.5 million. Such an increased number of users was most likely due to the 2018 World Cup in Russia.

Nevertheless, the people running the platform could not get away with it. They were arrested and are now waiting for the trial. Given the fact that cryptocurrency operations are officially banned in China, their punishment might be quite strict.

We would like to remind you that a couple of establishments in Moscow started accepting BTC as a means of payment during the World Cup.

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Vitalik Buterin and Pavel Durov Entered the Rating of the Most Influential Young Entrepreneurs According to Fortune 311

crypto ranking

The famous American business magazine Fortune published a list of 40 Under 40, which gathered the most influential young people in business under the age of 40 years.

The founder of Ethereum Vitalik Buterin holds an honorable 22th line, American R&B- and pop singer Rihanna is ranked next to him, and the CEO of the well-known online cash platform Coinbase, Brian Armstrong.

Exactly one year ago, Buterin and Armstrong shared the 10th place in the list.

The publication noted that there are still rumours about Google trying to hire Buterin. He was supposed to help the corporation develop blockbuster projects, but he refused.

This year, the founder of Telegram Pavel Durov appeared on the Fortune list for the first time and took the 25th line. We would like to remind you that from January to March this year,  about 200 investors invested in ICO Telegram in the total amount of 1.7 billion dollars.

First place 40 Under 40 was shared by the head of Facebook Inc. Mark Zuckerberg and CEO of the social network Instagram Kevin Systrom.

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Did the Winklevoss Brothers Buy the Approval of Gemini Exchange? 575

Winklevoss Brothers

The cryptocurrency experts have recently noticed an interesting coincidence between the fact that the Winklevoss brothers sponsored the political campaign of a government official and the approval that was received by their cryptocurrency exchange Gemini immediately afterwards. Or is it not a coincidence?

As the New York Post reports, Cameron and Tyler Winklevoss have both recently sent $50k each in support of the campaign of Andrew Cuomo, an American politician.

This happened in late April. About 3 weeks later, the digital currency exchange Gemini got an official permission from the administration of New York to conduct cryptocurrency trading operations.

Moreover, after another month passed the brothers sent another $15k checks each to Cuomo, even though they have never supported this politician prior to April. Nobody can deny the fact that the situation is pretty strange.

Despite all the suspicions, the members of Cuomo’s campaign claim that the Winklevoss twins just see Andrew Cuomo as an effective politician with good potential.

According to the representative of Cuomo:

No contribution of any size influences any government action.”

We remind you that this spring the twins Winklewoss have launched Gemini Block Trading for large transactions.

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Coinbase Admits Being Wrong After Claiming that It Got an Approval from the SEC 707

coinbase lied about sec

The cryptocurrency giant Coinbase has recently bought the platform Earn.com, and it is not going to stop there. This time the exchange is planning to purchase three smaller companies to expand even further.

The businesses that will soon belong to the exchange are:

  • Digital Wealth LLC;
  • Keystone Capital Corp;
  • Venovate Marketplace Inc.

However, for some reason, the representatives of Coinbase decided that they need the consent of the Securities and Exchange Commission for such an action. They even did an interview with Bloomberg where it was mentioned that the SEC gave Coinbase “the green light”.

In reality it turned out that not only the Commission did not provide any approvals, the approval wasn’t needed at all. The representatives of the company hurried to address the issue:

It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because SEC was not involved in the approval process.

Although, the SEC is strictly watching over the cryptocurrency industry, in this case their services were not necessary. The spokesperson of the SEC stated that the plans for purchasing were discussed with Coinbase informally.

We would like to remind you that Coinbase has recently added new services to its growing list.

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Stellar Became the First Blockchain that Complied With the “Sharia Law” 1445

stellar received sharia license

As we mentioned in our article about the first authentic Arabic cryptocurrency (Dubaicoin), the countries of the Middle East were one of the last ones to consider such innovative technologies as blockchain and digital coins.

The thing is, that the citizens of these countries are muslim, which means that all spheres of their life are controlled by religion. All inventions are carefully examined and approved only if they comply with the so-called “Sharia law”.

Stellar which is a blockchain-based network payment platform was inspected by an agency specializing in providing official certificates for companies and projects that meet the “Sharia law” requirements. The agency found Stellar applicable for the certificate. The post about this appeared on the Twitter account of the platform.

According to the post on the official site of Stellar:

The Shariyah Review Bureau (SRB), a leading international Sharia advisory agency licensed by the Central Bank of Bahrain, has reviewed the properties and applications of Stellar and has promulgated guidance and guidelines that enable Sharia compliant applications of Stellar technology in Islamic financial institutions.

Stellar’s representatives view the certificate as an important step in the development and expansion of their platform, since now it is available for thousands of new customers from Islamic countries.

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A Chinese Mining Giant Bitmain Invests $12 Billion Into EOS 676

bitmain invested in eos

As we reported earlier, one of the major cryptocurrency companies Bitmain was included in the list of official EOS block producers. These producers are required to let the main network of EOS operate without interruptions. However, Bitmain’s leader, Jihan Wu, decided to go beyond the status of a block producer and became an investor of the platform.

Block.one, a software developer company working on the EOS protocol, will receive an impressive investment worth $12 billion from Bitmain and an American businessman Peter Thiel.

According to Jihan Wu, he sees EOS as a quite potential platform which will be very beneficial for lots of other startups and products in future.

He stated:

The EOSIO protocol is a great example of blockchain innovation. Its performance and scalability can meet the needs of demanding consumer applications and will pave the way for mainstream blockchain adoption.”

Meanwhile, the representative of Block.one are also pretty enthusiastic about the cooperation. They are interested in finding strong partners to advance and improve their project.

Actually, it is not the first large investment of Bitmain in the recent months. The cryptocurrency mining company has also contributed $50 billion to the web browser Opera.

We would like to remind you that Opera became the first among the top web browsers to implement its own cryptocurrency wallet.

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A Chinese Crime Lord Conducts a Successful ICO and Sponsors a Poker Tournament 725

chinese gangster will sponsor poker tournament with his tokens

A popular personality in the Asian criminal circles, Wan Kuok-koi, has released his own digital currency, called HB cryptocurrency. The token sale has raised an unbelievable sum of $750 million in a matter of minutes.

Since ICOs are officially forbidden on the territory of mainland China, the event took place in Cambodia and was attended by the most prominent representatives of the industry from Asian countries. The next two stops of the ICO were Philippines and Thailand.

However, only 50% went for public sale out of the total token issue (1 billion). The other half was allocated for other purposes.

It became known that “Broken Tooth” (nickname of Wan Kuok-koi) cooperated with a Chinese company Zhonggongxin Cosmos in order to finance poker and chess competitions.

The winners of the tournament that will be held in Hainan this October will receive prizes in HB coins.

According to Wan:

We may pay the prize in half cash, half HB, the big bosses from both sides would release details later.

Neither Wan’s company, nor their Beijing partners have disclosed anything yet. Even though the representatives claim that all their intentions comply with the Chinese law, it still raises suspicions among the community due to the fact that cryptocurrency in China currently has a very shady status.

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