CoinFlash

Mexico’s Second Richest Man Reveals 10% of His Liquid Assets Are in Bitcoin

Mexican billionaire Ricardo Salinas Pliego just declared 10% of his portfolio is now tied up in bitcoin. Announced in a tweet on Wednesday, Mexico’s second-wealthiest man responded to questions that “many people” ask him about bitcoin, saying: “YES. I have 10% of my liquid portfolio invested.” “Bitcoin protects the citizen from government expropriation,” Pliego added …

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Overstock’s Medici Ventures Invests $8M in Blockchain Firm Bitt

Medici Ventures has completed an $8 million equity purchase in Barbados-based Bitt, bringing it a controlling interest in the blockchain firm. Medici’s latest investment will help it chase market opportunities around the adoption of digital currencies in developing countries, the Overstock subsidiary said in an announcement Wednesday. “Bitt’s pioneering work in the central bank digital …

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Kraken CEO Jesse Powell Issues Tough Critique of ‘Reckless’ DeFi Launches

Jesse Powell, chief executive of the U.S.-based cryptocurrency exchange Kraken, has lashed out at the decentralized finance (DeFi) sector in the aftermath of Monday’s $24 million arbitrage exploit of Harvest Finance. In a tweet on Tuesday, Powell said he would “not accept” DeFi projects’ attempts at “externalizing the cost” of “hasty reckless” rollouts. “Stop f**king …

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Spanish Police Arrest Head of Billion-Dollar Crypto Arbitrage Platform on Fraud Allegations

Spanish National Police have arrested the operator of cryptocurrency arbitrage firm Arbistar 2.0 in a crackdown on the platform that researchers and investors allege to be a massive bitcoin Ponzi scheme. The arrest should serve as a reminder to crypto investors of the value bitcoin’s traceable blockchain provides to investigators. While scammers can easily dupe …

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