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Coinbase to Users: You Could Lose It All if We Go Bankrupt

But the company's CEO says there's 'no risk' of crypto exchange going bankrupt

(Newser) - Coinbase, America's largest cryptocurrency exchange, holds around $256 billion in cryptocurrencies and traditional currencies—and it alarmed some users this week when it warned that those holdings could be lost if the company files for bankruptcy. The company said "the crypto assets we hold in custody on behalf...

Bitcoin Sinks, and One Nation Happily 'Buys the Dip!'

El Salvador, where the cryptocurrency is legal tender, has so far lost a lot of money on its bet

(Newser) - By Bloomberg's count, the government of El Salvador has shelled out $103 million since last year to buy 2,301 Bitcoins. As of Tuesday morning, those crypto coins were worth about ... $74 million. That is a sub-optimal return on investment. But President Nayib Bukele, who led the successful push...

Biden Cryptocurrency Order Seen as 'Watershed Moment'

It's 'as close to an embrace of crypto as you could have hoped for,' analyst says

(Newser) - The price of bitcoin surged Wednesday as President Biden signed an executive order on cryptocurrencies that the White House described as the first "whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets." In a statement , the White House, noting that an estimated 40...

Widow of Cryptocurrency CEO Saw Her Own Riches Vanish

Jennifer Robertson details the aftermath of Quadriga CEO Gerald Cotten's death

(Newser) - Some of her late husband's friends messaged Jennifer Robertson on WhatsApp to ask why she hadn't told them he died, and to get details on where the funeral was. Except they weren't Gerald Cotten's friends. In a piece adapted for the Walrus from her book Bitcoin ...

Feds Seize Mind-Boggling Sum After Crypto Hack

It's the largest seizure of funds in DOJ history

(Newser) - In 2016 around $71 million in bitcoin was stolen when the Bitfinex cryptocurrency exchange was hacked—and its value today is now around $4.5 billion. Federal investigators say they have now recovered $3.6 billion of that current value, the largest seizure of funds in Justice Department history, and...

Melania Trump's Hat 'Collateral Damage' of Crypto Crash

Former first lady didn't scoop up as many tokens as hoped in auction of hat worn to greet Macron

(Newser) - The crisp white Herve Pierre hat that Melania Trump wore to greet French President Emmanuel Macron and his wife at the White House in April 2018 went up on the auction block this month—along with a watercolor and NFT showing her wearing it—in the hopes that the entire...

Their Miscom Over Trash Bag Cost a Fortune

Their Miscom
Over Trash Bag
Cost a Fortune

Their Miscom Over Trash Bag Cost a Fortune

James Howells is still trying to retrieve tossed hard drive with $500M in bitcoin

(Newser) - James Howells' bitcoin plight has been in the news awhile, but the story grows harder to fathom as the value of the cryptocurrency rises. In 2013, Howells says he accidentally threw out a hard drive with the "key" to his stash of 7,500 bitcoins. By the time DT...

'Tremendous Victory' for Man Who Says He Invented Bitcoin

Business partner's family said Craig Wright owed them half of $50B fortune

(Newser) - Craig Wright, a computer scientist who claims to be the inventor of Bitcoin, prevailed in a civil trial verdict Monday against the family of a deceased business partner that claimed it was owed half of a cryptocurrency fortune worth tens of billions. A Florida jury found that Wright did not...

2 Politicians Ask to Get Their Paychecks in Bitcoin

At least a payment or three, for Eric Adams and Francis Suarez

(Newser) - Update: The mayor-elect for New York City wants to be paid in Bitcoin. Democrat Eric Adams has requested his first three checks be paid in the world's largest cryptocurrency once he takes over the mayoral post in January, the BBC reports. Adams' request was a move to outdo that...

Aaron Rodgers Giving Away $1M in Bitcoin

The Green Bay Packers quarterback announces partnership with CashApp

(Newser) - Green Bay Packers quarterback Aaron Rodgers is investing in cryptocurrency in a big way. "I’m pumped to share that I’ve recently teamed with CashApp," he said in a video shared on Twitter on Monday, per Yahoo Sports . "They’ve enabled me to take part of...

ETF Launch Helps Push Bitcoin to a New High

Cryptocurrency tops $66K

(Newser) - Bitcoin jumped to a record Wednesday, topping $66,000 for the first time, as it rides a wave of excitement about getting further accepted by the financial establishment. Bitcoin was trading at $66,901.30, up 7.6%, as of 10:52am ET. It's roared back after sinking below...

He Allegedly Hid Devices Under Floor at Work to Mine Bitcoin

Christopher Naples accused of running up more than $6K in electric bills for Suffolk County

(Newser) - A county employee in New York state is accused of stealing from the job, but with an oh-so-modern twist. Authorities in Suffolk County say IT supervisor Christopher Naples mined cryptocurrency on the job and ran up at least $6,000 in electric bills in the process, reports the New York ...

Happy 'B-Day,' El Salvador
Happy 'B-Day,' El Salvador

Happy 'B-Day,' El Salvador

Starting Tuesday, bitcoin can be used as legal tender nationwide

(Newser) - Earlier this year, El Salvador became the first country to give bitcoin the green light as legal tender. And Tuesday is "B-day," the day that legislation goes into effect, with Salvadorans now able to use the cryptocurrency in any transaction. Residents in the country—which has had the...

Cops Use Steamroller to Crush Bitcoin Mining Rigs

Authorities in Malaysia say miners stole $2M in electricity from power lines

(Newser) - A crushing defeat for Bitcoin miners in Malaysia: Authorities in the city of Miri used a steamroller to flatten 1,069 Bitcoin mining rigs in the police station's parking lot, CNBC reports. The machines, which solve complex equations to unlock blocks of the cryptocurrency, were used in illegal operations...

World Bank Rejects a Nation's Plea for Bitcoin Help

Institution says it won't help El Salvador due to 'environmental and transparency shortcomings'

(Newser) - The first country in the world to adopt bitcoin as legal tender recently made a big ask of the World Bank, requesting that the international financial institution help it implement its plans—but it's a no from the group to El Salvador. "This is not something the World...

Bitcoin Conference May Have Been 'Superspreader' Event

Dozens reportedly test positive after Miami event

(Newser) - A Bitcoin conference in Miami last week was one of the biggest events in the US since the pandemic began—and it may end up serving as a reminder that the pandemic isn't over. There have been reports of dozens of attendees testing positive, with one attendee warning that...

First Country Makes Bitcoin Legal Tender

'Nobody can refuse payment,' says El Salvador President Nayib Bukele

(Newser) - El Salvador’s Legislative Assembly has approved legislation making the cryptocurrency Bitcoin legal tender in the country, the first country to do so, just days after President Nayib Bukele made the proposal at a Bitcoin conference. The digital currency can be used in any transaction and any business will have...

Cops Expecting Pot Farm Uncover Illegal Bitcoin Mine

Operation in UK was stealing electricity from the grid to power 100 computers

(Newser) - Police in Britain say a building they were watching had people coming and going at all hours, numerous wiring and ventilation ducts visible, and was emitting a lot of heat—all "classic cannabis factory signs." But when West Midlands police raided the factory in an industrial area last...

Bitcoin Plunges After China Announces Crackdown

Beijing bans financial services from taking part in cryptocurrency transactions

(Newser) - A bad month for cryptocurrency investors got worse this week following a big move from China. Regulators in Beijing banned financial services companies Tuesday from taking part in cryptocurrency transactions or providing crypto services to clients, the BBC reports. "Prices of cryptocurrency have skyrocketed and plummeted recently, and speculative...

Fake Elon Musks Make Millions in Bitcoin Scams
FTC: Beware Fake Elon Musks

FTC: Beware Fake Elon Musks

Bitcoin scammers have stolen millions by impersonating Tesla CEO

(Newser) - Cryptocurrency scams involving fake Elon Musks have cost people a lot of real money. The Federal Trade Commission says crypto scams have surged along with the value of the digital currencies. The FTC says that between October and March, it received more than 7,000 complaints about scams involving Bitcoin...

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