cryptocurrency

13 Stories

Shipwreck Packed With Gold May Be a Convoluted Scam

So much for the $132B slumbering on the ocean floor

(Newser) - It sounded too good to be true. Now, officials say it really might have been. In mid-July, the South Korea-based Shinil Group announced that it had discovered the wreck of the Russian Imperial Navy cruiser Dmitrii Donskoi and that the 200 tons of gold it was carrying when it sank... More »

'A Sinking Feeling': Men Get Letters About Their 'Secrets'

The FBI says it's a new breed of scam

(Newser) - "I know about the secret you are keeping from your wife and everyone else," the letter read. "More importantly, I have evidence of what you've been hiding." Jeff Strohl, resident of a wealthy Washington suburb, admits he wasn't too thrilled to read the July... More »

Bitcoin Used in 2010 to Buy 2 Pizzas Now Worth $82M

The cryptocurrency has gone up in price just a bit since then

(Newser) - Hallmark may need to update its official list of holidays . Tuesday was Bitcoin Pizza Day, or what Business Insider calls "the most celebrated day in crypto," marking the eighth anniversary of when programmer Laszlo Hanyecz made what's thought to be the very first purchase with bitcoin. That... More »

He Became a Billionaire, Dies on Way to Rehab at 54

Matthew Mellon bet big on cryptocurrencies, but battled an OxyContin addiction

(Newser) - Matthew Mellon, the banking heir whose cryptocurrency investment paid off big-time, has died in Cancun, Mexico. He was 54. A family rep issued the following statement to Page Six : "Mellon made his fortune in cryptocurrency, turning a $2 million investment into $1 billion. He is survived by his three... More »

Single Donation Fulfills Every Request on DonorsChoose

'We never had this dream because it would have been too crazy to even say'

(Newser) - The scope of the donation—and the effects it will have on US students—is almost hard to fathom. "I kind of dared myself to send an email pitching an idea 10 times bigger than I've ever pitched before," Charles Best, founder of DonorsChoose.org, tells the... More »

Trump Throws Cold Water on Venezuelan Cryptocurrency

The president has banned all Americans from using the so-called 'petro' coins

(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 »

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 »

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