Associated Press Mocked Relentlessly Over Ridiculous Bitcoin ‘Style’ Rules

By CCN: The Associated Press got dragged on Twitter after issuing its ridiculous style rules for bitcoin and cryptocurrencies. In short, the AP guidelines underscored that the self-proclaimed editorial style gurus don’t understand crypto at all. AP: ‘He Bought a Vacuum Cleaner Using Bitcoins’ The brouhaha erupted after the AP Stylebook tweeted: “We have a new entry on cryptocurrency, including Bitcoin, Litecoin, Dogecoin and Ethereum. It contains explanations as well as style points.” “Capitalize when referring to Bitcoin and other currencies as a system, but lowercase when referring to their use as payment: ‘The government wants to regulate Bitcoin, Ethereum

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Kik Fortifies War Chest to Battle SEC Lawsuit Over $100 Million ICO

By CCN: Canadian mobile-messaging company Kik is preparing to fight the SEC tooth-and-nail when the agency sues the firm over its $100 million ICO. Many companies settle to avoid a protracted and expensive legal war. However, Kik says the best way to force the Securities and Exchange Commission to issue regulatory clarity is through a full-scale court battle. So that’s what it’s doing. Watch: Why This Video Could Doom Kik’s SEC Fight https://t.co/ZAO2CmGGVf — CCN.com (@CCNMarkets) February 1, 2019 Facebook Also Launches Preemptive Strikes Kik’s proactive defensive maneuver mirrors the tactic that Facebook is employing. The social media monopoly is

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50% Stock Surge Will Launch Amazon to a $1.3 Trillion Valuation: Analyst

By CCN: Billionaire Jeff Bezos should buckle up because Amazon stock will surge 50% over the next year to top $2,750 a share. That’s the bold prediction of Michael Levine, a senior analyst with New York equity-research firm Pivotal Research Group. Analyst: Amazon’s Valuation Will Soar to $1.35 Trillion Levine’s bullish Amazon price target is well above the second-highest forecast of $2,500 by Cowen, according to Tip Ranks. Using Levine’s projection, that means Amazon — which is currently valued at about $893 billion — could rocket to $1.35 trillion by 2020. ‘A Must-Own Name With Huge Upside Potential’ Amazon stock

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Bitcoin Skeptic Mark Cuban Torches ‘Useless’ SEC in Withering Takedown

By CCN: Billionaire bitcoin skeptic Mark Cuban torched the Securities and Exchange Commission as “useless” bureaucrats who bring “ridiculous” lawsuits against investors to justify their worthless existence. “I’m obviously not a fan of the SEC,” Cuban told CCN. “I think they prefer regulation through litigation and that creates problems for everyday investors.” Cuban — whose net worth tops $4.1 billion — is a tech entrepreneur who owns the Dallas Mavericks NBA team. Cuban: SEC Puts Investors on Double-Secret Probation Cuban’s anti-SEC comments to CCN mirror the blistering remarks he made to Yahoo Finance last week (video below). Cuban says the

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‘Bitcoin Will Disappear,’ Craig Wright Rants in Blistering ‘Satoshi’ Manifesto

By CCN: Australian entrepreneur Craig Wright published a blistering manifesto that argues bitcoin (BTC) will eventually disappear because it’s being used to facilitate criminal activity. And that perverts his original vision for the cryptocurrency. For reference, Wright has repeatedly claimed that he is Satoshi Nakamoto, the mysterious creator of bitcoin. He has yet to offer definitive proof. Civil War Erupts Between Warring Crypto Factions Wright is a proponent of Bitcoin SV (Satoshi’s Vision), which he insists is the “true bitcoin.” Wright and his ally Calvin Ayre claim BSV will supplant all other fake pretenders to the bitcoin throne and will

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Bitcoin Data Giant CoinMarketCap Sponsors Major Israeli Football Club

By CCN: Crypto price-tracking website CoinMarketCap is sponsoring the Beitar Jerusalem Football Club, an Israeli soccer team. And Israel’s most famous footballer, Yossi Benayoun, is a bitcoin investor. Benayoun retired from Beitar Jerusalem last month. Beitar Jerusalem Scores CoinMarketCap Sponsorship Luke Wagman, the CEO of CoinMarketCap, proudly touted the news on Twitter. A giddy Wagman even suggested that CoinMarketCap’s sporty new uniforms brought Beitar Jerusalem some good luck in a friendly match against Madrid. “Thrilled to be featured on the Beitar Jerusalem Football Club’s uniforms yesterday in their match versus Atlético Madrid. They won 2-1! It is exciting to see

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Elon Musk Had to Snub Apple’s Buyout Bid Even if Tesla Is in Code Red

By CCN: When Tesla’s stock crashed below $200 this week after the company tumbled into a “code red,” many on Wall Street wondered if Elon Musk should’ve accepted Apple’s $240-a-share buyout offer from 2013. However, despite the horrendous week Tesla is having, Musk was right to stick by his guns. Elon Musk Institutes Emergency Cost-Cutting Last week, Musk admitted in a frantic internal email that Tesla is in dire financial straits. Tesla only has $2.2 billion in cash on hand, which is just enough money to last another 10 months. “This is a lot of money, but actually only gives

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Bitcoin Searches Rocket to 13-Month High Amid ’60 Minutes’ Hype

By CCN: Google searches for bitcoin have climbed to a 13-month high, in tandem with its price spikes following the brutal 2018 crypto bear market. Google Trends tracks search interest for certain terms. Interestingly, the countries that are leading the Google searches are not cryptocurrency powerhouses: South Africa. Netherlands. Slovenia. Austria. Nigeria. Rising public curiosity over bitcoin isn’t surprising, given how volatile the market has been. An erratic market sparks intense controversy, with proponents and opponents rabidly debating whether the downturn is temporary or is definitive “proof” that bitcoin is a scam. Bitcoin price spiked in lead-up to crypto conferences

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Elon Musk Blushes After PornHub Publishes Steamy Tesla Autopilot Sex Video

    By CCN: Billionaire Elon Musk was amused when a porn star revealed that the Tesla on Autopilot mode can be used to enjoy “hands-free” car sex. And she has the video to prove it. Elon Musk: ‘I shoulda seen it coming’ The Tesla CEO wryly tweeted that he “shoulda seen it coming.” The revelation has likely opened up a whole new market for his Tesla electric vehicles. “Turns out there’s more ways to use Autopilot than we imagined,” Musk tweeted. Adult film star filmed porno using Tesla Autopilot Musk was reacting to porn star Taylor Jackson, who bragged

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Bitcoin-Bashing Democrat Calls for Blanket Ban on Cryptocurrencies

  By CCN: Bitcoin-bashing Democrat Congressman Brad Sherman is urging his colleagues to pass a law that would ban cryptocurrencies in the United States. “I look for colleagues to join with me in introducing a bill to outlaw cryptocurrency purchases by Americans, so that we nip this in the bud.” Congressman Sherman, who’s from California, made the remarks May 9 at a meeting of the House Financial Services Committee. Sherman says the ban is necessary because crypto threatens to undermine the U.S. dollar and is only useful for criminal activities like money-laundering, drug-dealing, and tax evasion. Sherman: Crypto fans want

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Bitcoin Basher Nouriel Roubini Cowers from Novogratz’s Crypto Wager

Bitcoin perma-bull Mike Novogratz clashed with avowed crypto-hater Nouriel Roubini at the 2019 SALT tech conference in Las Vegas on May 8. During a panel discussion about digital currencies, Roubini once again trashed crypto as a massive “bubble.” Meanwhile, Novogratz cooed that bitcoin is a “miracle.” ‘Crypto is the mother and father of all bubbles’ Nouriel Roubini is an economics professor at New York University. His latest claim to fame is opposing bitcoin. Despite the fact that Roubini has little real-world (i.e., non-academic) experience managing large sums of money, he has repeatedly dismissed bitcoin as worthless and a giant scam.

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Buffett Bro: Bitcoin ‘Dementia’ Patients Worship Judas Iscariot

By CCN: Billionaire pals and colleagues Warren Buffett and Charlie Munger doubled-down on their bitcoin haterade at the 2019 Berkshire Hathaway annual shareholders meeting. Munger said bitcoin fans had invited him out for a drink this weekend, but he didn’t even consider it because he thinks they’re all traitors. “I’ve been invited during this gathering to go to a happy hour put on by the bitcoin people. And I tried to figure out what the bitcoin people do in their happy hour and I finally figured it out: They celebrate the life and work of Judas Iscariot.” The audience erupted

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Elon Musk, Warren Buffett Spar After Berkshire Billionaire Disses Tesla

By CCN: Billionaire Elon Musk joked about Warren Buffett after the Berkshire Hathaway chairman dissed his plans to launch Tesla insurance and said he’d bet against it. At the Berkshire Hathaway annual shareholders meeting this weekend, Buffett questioned the wisdom of a Tesla insurance product, which Musk plans to launch soon. Warren Buffett: I’d Bet Against Tesla Insurance Buffett — whose net worth tops $89 billion — says insurance is a tough racket to break into. Accordingly, he expressed skepticism that Tesla could gain traction in the competitive industry. “It’s not an easy business,” Buffett told shareholders (via CNBC). “The

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Amazon Stock Jumps After ‘Idiot’ Warren Buffett Reveals Berkshire Stake

By CCN: Billionaire Warren Buffett gave Amazon stock a jolt today after revealing that he owns AMZN shares and was “an idiot” for not investing in the e-commerce giant sooner. On May 3, Amazon closed at $1,962.46 a share, up 3.24%, on heavy volume of 6.2 million shares. Average daily trading volume is 4.17 million shares. Buffett: ‘I’ve Been an Idiot for Not Buying Sooner’ On Friday morning, Amazon stock climbed 2.5% in pre-market trading after Buffett admitted that he had underestimated billionaire Jeff Bezos and his relentless will to dominate the market. “I’ve been a fan, and I’ve been

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Bitcoin Hero and CFTC Chair Giancarlo Expects ‘Explosive’ Spike in Crypto Interest

By CCN.com: J. Christopher Giancarlo, the retiring chairman of the CFTC, expects a massive spike in interest in cryptocurrencies with the launch of bitcoin futures products. Giancarlo made the remarks in a May 1 speech before a Congressional committee. During his testimony, he recounted the highlights of his tenure at the Commodity Futures Trading Commission (CFTC) and its response to today’s increasingly digital and algorithmic financial markets. Giancarlo says the CFTC expects to see a barrage of new applications for clearinghouse registrations resulting from what he believes will be an “explosion of interest in cryptocurrencies.” giancarlo: CFTC must keep up

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NYSE Owner is Buying Bitcoin at Cheap Prices Ahead of Bakkt Launch

By CCN.com: The bitcoin bear market of 2018 was a disaster for most crypto fans, but it was a boon for the highly-anticipated cryptocurrency trading platform Bakkt. That’s the opinion of NYSE chairman Jeffrey Sprecher, the CEO of Bakkt’s parent company, Intercontinental Exchange (ICE). Sprecher’s ICE — along with Microsoft, Starbucks, and BCG — is bankrolling Bakkt, whose CEO is Sprecher’s wife, Kelly Loeffler. sprecher: bitcoin winter was good for bakkt Sprecher tried to put a positive spin on the Crypto Winter by saying it gave Bakkt time to build out the platform and buy up bitcoin at relatively cheap

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Bitmain-Backed Japanese Crypto Exchange Liquid Readies US Launch

By CCN: Liquid, a Bitmain-backed Japanese cryptocurrency platform operated by Singaporean crypto exchange Quoine, plans to expand into the United States. Liquid hopes to on-board U.S. clients by January 2020. In an April 29 statement, Liquid said it partnered with a consortium of crypto and fintech investors called Virtual Currency Partners (VCP). The two entities then launched a joint venture called Liquid Financial USA, which will manage the U.S. expansion. Liquid Co-Founder and CEO Mike Kayamori says he’s making the move into the United States in response to “widespread expressions of interest” from Liquid’s corporate and institutional customers. Liquid USA,

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Microsoft Under Fire After Hackers Access Outlook Emails to Steal Bitcoin

By CCN: Hackers infiltrated Microsoft Outlook email users’ accounts in order to steal crypto, including bitcoin. The scope of the cyber-theft is still as-yet undetermined, but it appears to be more expansive than first thought. One victim is Dutch engineer Jevon Ritmeester, who says a hacker gained access to Microsoft customer support workers’ login credentials. The hacker used this information to pore through Ritmeester’s Outlook emails to reset passwords and withdraw bitcoin from his accounts on cryptocurrency exchanges. Ritmeester is furious at Microsoft’s casual reaction to this egregious negligence. Crypto theft was apparent motive for hacks So far, Ritmeester says

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Pro-Bitcoin Ohio Bill Promotes Government Adoption of Blockchain

By CCN.com: A bill introduced this week in the Ohio House of Representatives urges government entities to adopt blockchain, the technology underpinning bitcoin. Republican state representative Rick Carfagna sponsored the bill. The legislation, called House Bill 220, is part of Ohio’s plan to provide a legal framework for distributed ledger technology such as blockchain (see text below). Rep. Carfagna did not return CCN’s calls for comment. The legislation would enable the establishment of a decentralized online record for transactions such as car titles or hunting licenses, according to Cleveland.com. Ohio has been making strides to become more crypto-friendly as part

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Groundbreaking Chase Bank Lawsuit Verdict Could See NY Federal Judge Rule ‘Crypto is Cash’

By CCN.com: A Manhattan federal judge will have to decide whether crypto is cash in what would be a landmark decision for the budding industry. The ruling would have major implications for what laws and regulations cryptocurrencies are subject to. Chase Bank — the consumer and commercial banking subsidiary of JP Morgan Chase — says crypto is just like cash because it’s a medium of exchange. The only difference is that cryptocurrencies like bitcoin are digital, Chase says. Meanwhile, a group of customers that are suing Chase over fees it charged on crypto purchases contend that cryptocurrencies are goods —

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Merciful Florida Judge Refuses to Unseal Robert Kraft Sex Video

Thanks to a Florida judge, the lurid sex tape of Robert Kraft — the billionaire owner of the New England Patriots — will remain sealed. At least for now. Many people breathed a collective sigh of relief at the judicial act of mercy on the public. Because we don’t want to see it. On April 23, Palm Beach County Judge Leonard Hanser sided with Kraft’s attorneys, who have filed motions to keep the evidence under seal and away from the public’s prying eyes. This week, Kraft’s lawyers argued that releasing the X-rated video of the 77-year-old widower receiving oral sex

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World’s Largest Bitcoin Exchange Wants to Help Rebuild Notre Dame

By CCN: Binance, the world’s largest bitcoin exchange, is stepping up efforts in the crypto community to help rebuild Notre Dame Cathedral in Paris, France. The iconic 900-year-old Catholic church literally went up in flames after being destroyed by a massive fire. Authorities are still investigating the suspicious cause of the raging blaze. ‘Bring Crypto to Religion!’ Binance CEO Changpeng Zhao threw down the gauntlet to the crypto industry, urging them to help restore the historic landmark and show the world that bitcoin can be a force for good. “If we can push crypto to the last mile of the

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Bitcoin Faithful Ignore Crypto Donation Drive to Rebuild Notre Dame

By CCN: The crypto community has remained curiously silent in response to a bitcoin donation drive that was launched to raise money for rebuilding the Notre Dame Cathedral in Paris, France. 900-Year-Old Catholic Church Ravaged by Fire The iconic 900-year-old Catholic church was destroyed by a massive blaze on April 15. The cause of the fire is still being investigated. The tragedy devastated millions of French citizens, as well as the estimated 1.2 billion Catholics around the world. This is the moment the iconic spire of the Notre-Dame cathedral collapsed, as a fire engulfed the 12th century building in Paris.

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Dow Will Surge on 2020 Trump Victory: Nobel Laureate

By CCN: The Dow Jones will soar and delay a recession if President Donald Trump wins re-election in 2020. That’s the prediction of Nobel laureate Robert Shiller, an economics professor at Yale University. This uncharacteristically bullish outlook is surprising because Shiller is a longtime perma-bear who has been predicting a recession for decades. In fact, Shiller’s specialty is spotting financial bubbles, so he’s constantly looking for signs of an impending recession (even when there are none). Robert Shiller: ‘Trump Is a Pro-Business Candidate’ However, Shiller says Trump’s pro-business policies could buoy the Dow and offset an economic downturn for several

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Struggling Ethereum Giant ConsenSys Seeks $200 Million Raise at Billion-Dollar Valuation

By CCN.com: Ethereum development studio ConsenSys is struggling financially and is now trying to raise $200 million from outside investors to stay afloat. The fundraising drive comes just four months after the Brooklyn-based blockchain startup laid off 13% of its workforce. ConsenSys has not yet commented on the rumors, which were reported by The Information. Sources say the crypto company wants its valuation to top $1 billion, but prospective investors believe that’s unrealistic given its current financial woes. The Brooklyn-based firm — which employs 900 people — posted revenue of just $28 million in 2018. Ethereum Giant ConsenSys Tightens Belt,

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Shareholders Want ‘Dictator’ Zuck Out as Chair, Facebook Defends Him

By CCN: Facebook shareholders want Mark Zuckerberg to step down as chairman, saying he runs the social media monopoly “essentially as a dictatorship.” Investors also slammed the tech juggernaut for its barrage of data-breach scandals, which they say has eroded public trust in the social network. A group of shareholders made the bombshell revelations in an April 12 SEC filing. The proposals were made in preparation for Facebook’s annual shareholders meeting, which is scheduled for May 30. Board Shot Down All 8 Shareholder Proposals Facebook unwittingly confirmed that it does indeed “operate essentially as a dictatorship” when it flatly rejected

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Bitcoin Transaction Costs are ‘So Much Cheaper’ than Credit Cards, Says Canadian Mayor

A Canadian town mayor says using bitcoin to pay for property taxes has made transaction costs much cheaper. “The advantage of doing it as opposed to a credit card is the transaction costs are so much cheaper,” Mayor Lynn Dollin of Innisfil, Ontario told Day 6. Innisfil is the first town in Canada to allow residents to use bitcoin to pay their property taxes. It’s part of a one-year pilot program the town entered into with Coinberry Pay, a Toronto-based cryptocurrency company. Mayor Wants Ontario Town To Be a Tech Hub The program officially launches this week. Mayor Dollin

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Billionaire’s Savage Tesla Takedown Ends with Surprise Muppets Quote

Hedge fund billionaire David Einhorn dissed Elon Musk over his recent troubles and gloated that the “the wheels are coming off — literally” at his electric-car company Tesla. Einhorn’s investment firm, Greenlight Capital, has been shorting Tesla stock for a couple of years. Accordingly, he has a vested interest in seeing TSLA shares crater. Einhorn: Elon Musk Is ‘Erratic and Desperate’ Einhorn — who trashed Elon Musk as “erratic and desperate” in September 2018 — says it’s obvious to him that Tesla is “on the brink of failure.” He made the remarks in a blistering six-page investor letter. “If Q1

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Bitcoin Donations Pour in for Wikileaks After Disturbing Assange Arrest

Bitcoin donations are pouring in for Wikileaks founder Julian Assange, who was arrested April 11 in London pursuant to an extradition agreement with the United States. Donations started to spike after the official Wikileaks account posted a tweet yesterday, soliciting contributions to Assange’s legal defense fund. That tweet has since been deleted. Bitcoin Donations Top $34,000 In the past 24 hours, the Wikileaks bitcoin wallet address has logged 314 transactions. Contributions now top 6.7 BTC, or roughly $34,000. Objectively, that’s not a huge amount of money, but other contributions are being made via fiat currency. Julian Assange Is a Longtime

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5th-Largest Japanese Bank Abruptly Ditches Ripple Trial

Ripple, the blockchain-based payment network, suffered a setback after Japan’s Resona Bank said it would no longer use MoneyTap, a consumer-centric retail payments app that uses Ripple’s enterprise blockchain technology. Resona – Japan’s fifth-largest financial institution – did not provide a reason for the abrupt cancellation, which makes it the first Japanese bank to quit the MoneyTap project. It’s unclear if others will follow. Withdrawal Comes 6 Months After Agreement The cancellation takes effect on May 13. Resona made the surprising announcement April 11 on its website, where it said: “Resona Bank will cancel the cooperation with the money transfer

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