crypto news

John McAfee arrested, indicted on tax evasion

According to charges filed by the Department of Justice and SEC, McAfee made more than $23 million dollars in undisclosed compensation by "leveraging his fame" recommending ICOs to his Twitter followers, not disclosing that he was being paid to promote the tokens.

McAfee could face up to 30 years in prison if convicted.
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In the news

UK bans sale of crypto derivatives to retail investors

The U.K.'s Financial Conduct Authority has banned the sale of cryptocurrency derivative products to investors in a move that is meant to save average investors $69 million in losses each year.

The ban prohibits the trading of derivatives based on digital assets like Bitcoin and Ethereum, but does not ban trading the digital assets themselves.

Fed’s $9 Trillion pump eclipses two centuries of USD creation

Estimates say, in 2020 alone, the U.S. has created 22% of all the USD in existence - with the U.S. Federal Reserve having printed more than $9 Trillion USD since September of 2019.

September 2020’s single month budget deficit was a whopping $864 Billion, which is equal to the total amount of national debt that the country incurred in its first 200 years of existence.

Japan's messaging giant Line introduces crypto lending services

With both a cryptocurrency wallet and exchange launched earlier this year, LINE users will now be able to earn a yield off of a variety of cryptocurrencies including Bitcoin and Bitcoin Cash, by lending cryptocurrencies to the company’s new platform.

LINE also unveiled a number of blockchain-based apps from RPG games to social karaoke, showing that they are going all in on blockchain technology.

China's digital currency has been used in 3 Million transactions

The People’s Bank of China’s pilot program for a digital currency is now being adopted by everyday citizens and corporations, worth over a Billion Yuan so far.

The digital yuan is currently being tested in major cities including Beijing, Hong Kong, and Macau, and has been adopted by four of the country’s major state-run banks.