Millionaire friend of Craig Wright’s Sues Binance for a Fake Bitcoin

Audy Castañeda
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A British court will have to decide on a complaint, with a stake of almost 10 billion pounds.

The Bloomberg article from January 13 reviews the alliance between two personalities, with a rather sulphurous past, who attack each other on the main cryptocurrency exchanges.

If there were a significant event to start the story, then the latter would begin in May 2022, when the company BSV Claims Ltd. was incorporated to an address in the East End of London.

Although Calvin Ayre’s name does not appear in official company documents, the Canadian finances the company. This Canadian businessman wants to tackle the major cryptocurrency exchanges, which have dared to remove Bitcoin Satoshi Vision (BSV) from Craig Wright’s list.

Calvin Ayre and Craig Wright: A Winding Road

Calvin Ayre is an online gambling mogul, considered a crypto evangelist by some observers. The course of the entrepreneur is marked, among other things, by fights with regulators and justice.

For two decades, Ayre was banned from the Vancouver Stock Exchange, for alleged insider trading. Subsequently, he founded the online gambling platform Bodog, which would have made him a billionaire. At the time when the company was booming, Calvin Ayre got into trouble with the American courts, because online gambling was then still illegal.

The US government charged him with running an illegal sports betting business and conspiring to launder money. Ayre pleaded guilty and was sentenced to one year of unsupervised probation. He also had to pay a $500,000 fine.

In the cryptosphere, Calvin Ayre worked with Craig Wright for years. The Australian computer scientist has repeatedly claimed that he is Satoshi Nakamoto, without being able to provide evidence for his claims.

Almost £10 Billion Lawsuit Against Binance and other Crypto Exchanges

BSV Claims Limited was founded to bring a £9.9 billion Class Action Lawsuit, on behalf of 243,000 people, against four of the largest cryptocurrency exchanges, including Binance. The plaintiffs accuse them of being responsible for the losses suffered by Bitcoin Satoshi Vision (BSV) investors.

Three other cryptocurrency exchanges, including Kraken, removed BSV from their platform, shortly after Changpeng Zhao’s post claiming that “Craig Wright is not Satoshi”. Most recently, in December, Bitfinex delisted BSV, after a token listing ratings review.

Anti-Competitive Practices and Cryptocurrencies: A First in the UK

Calvin Ayre wants to attack the wallets of the major crypto exchanges. A spokesperson for the contractor called these BSV withdrawals “anti-competitive practices in violation of competition law.”

Law firm Crowell & Moring said it would be the first time a UK court would take up a charge of anti-competitive practices relating to digital assets if the Competition Appeal Tribunal – the Competition Appeal Tribunal – found this claim admissible.

Craig Wright is used to rather mocking complaints, sometimes dreaming of billions of dollars obtained thanks to a court decision. Calvin Ayre seems to have followed suit, attacking Binance and other crypto exchanges that took BSV down.

By Audy Castaneda

Will Orbeon (ORBN) Protocol Be a Great Alternative to Cosmos (ATOM) and XRP (XRP)?

Audy Castañeda
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<strong>Will Orbeon (ORBN) Protocol Be a Great Alternative to Cosmos (ATOM) and XRP (XRP)?</strong>

ORBN is being promoted as a good addition to any investment portfolio, but what the future holds remains to be seen.

Many cryptocurrency investors are incurring losses, as the volatile year 2022 ends, and their assets like XRP (XRP) lose value. Not everything, though, is as disastrous as it seems. A cryptocurrency project, which is in stage 1 of its public pre-sale, has been considered to be the savior of cryptocurrencies. That project is the Orbeon Protocol.

Orbeon Protocol (ORBN)

Using the Orbeon Protocol (ORBN) platform, established companies and startups can acquire capital more quickly, by producing fractional NFTs with real capital or rewards backing and offering them for as low as $1 to buyers. This innovation will disrupt the crowdfunding industry and put Orbeon Protocol on top.

This method allows companies to enter the Web3 space more easily while their community grows faster. Orbeon Protocol will also have the multi-chain capability, meaning investors can trade on multiple Blockchains with reduced costs.

Orbeon Protocol’s will also establish a presence in the Metaverse, with plans to host virtual networking events. The ORBN token is at the center of this system. By holding this token, customers can earn participation rewards, and cast votes on the future of the network, among other actions.

These benefits are accessible for just $0.0435, although the token (ORBN) will not remain at this price. As the pre-sale progresses, so will its price, with a point of $0.24 very closely, as it is expected to rise 6000% in the coming weeks.

Cosmos (ATOM)

Cosmos (ATOM) is a proof-of-stake network that enables decentralized communication across various Blockchains without destroying independence. Last year saw a respectable rise for Cosmos (ATOM), which peaked in price.

In recent news, e-Money, the ecosystem stablecoin company Cosmos (ATOM), announced that it would soon stop issuing its euro stablecoin EURR. However, this did not affect the price of Cosmos (ATOM) at the moment, as the coin is showing a bullish trend.

Cosmos (ATOM) is trading at $11.29, a jump of 3% in the last 24 hours. Unfortunately, the trading volume of Cosmos (ATOM) is down 16% in the same time period. Experts believe that Cosmos will not be able to keep up this momentum, as the potential growth of Cosmos (ATOM) has already stagnated.

XRP (XRP)

XRP (XRP) is the native currency of the XRP Ledger (XRPL), a decentralized, public Blockchain developed by Ripple Labs Inc. The hype behind XRP (XRP) helped it reach its all-time high of $3.84 in 2018.

Like every other coin, XRP (XRP) has since lost most of that value after the bear market in 2022. On a positive note, Binance recently announced that it would provide a new dual investment way to buy XRP (XRP) and Cardano. (ADA).

This was evident in the price of the XRP coin (XRP), as it rose 5% over the past day. One XRP token (XRP) is currently worth $0.365, which could be a good entry point for those interested in the coin. However, investing in XRP (XRP) is currently not recommended, as new projects with more advantages emerge daily.

By Audy Castaneda

Bill Gates on Cryptographic Data Verification

Audy Castañeda
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<strong>Bill Gates on Cryptographic Data Verification</strong>

The founder of Microsoft is considered one of the most vocal skeptics of technology.

Bill Gates has shaped modern life through his innovations like no one else has. Yet he doesn’t think much about cryptocurrencies. In addition to investor legend Warren Buffett, the founder of Microsoft is considered one of the most vocal skeptics of technology, having expressed his concerns in numerous interviews over the years. Notably, Gates does not have cryptocurrencies.

Crypto’s main banefit? According to the founder of Microsoft, drug trafficking and tax evasion. Gates sees a climate killer in Bitcoin, claiming that “it uses more energy per transaction than any other method we know of.” How justified are his criticisms?

Bill Gates, as quoted at Reddit AMA in 2022, said he invests “in things that have a valuable result. The value of companies is based on making great products. The value of cryptocurrencies lies solely in speculating what someone else will pay for them in the future. They have no added value for society.”

Money Laundering with Cryptocurrencies

“The anonymity of cryptocurrencies makes them particularly problematic when it comes to money laundering and illegal activities,” Gates said to Forbes in 2018.

Eldorado’s reputation for money laundering has accompanied cryptocurrencies like Bitcoin for a long time. The fact is that in the last five years, 33 billion US dollars have been laundered around the world with the help of cryptocurrencies. There was a 30 percent increase in 2021 alone, according to US data service provider Chainalysis, which has been investigating crypto-financial crime since 2014. For comparison: In Europe alone, between 715 billion and 1.87 trillion euros are laundered with the euro each year, according to the United Nations Office on Drugs and Crime (UNODC).

Cryptocurrency transactions are stored on Blockchains for all to see. So they are not really anonymous. This transparency makes it easier to prosecute financial crimes, as experts like Chainalysis repeatedly highlight. In fact, data service providers and authorities have been able to clear up many frauds, hacks, as well as money laundering activities, in the cryptocurrency sector in recent years, and they have convicted the people behind them.

Bitcoin Harmful to Climate

A single bitcoin transaction consumes approximately 700-kilowatt hours of electricity, as much as an American household consumes in 24 days. In general, the Bitcoin network consumes as much energy as in countries like Finland or Austria. Therefore, Bitcoin is without a doubt a huge energy consumer.

Most of the energy is used for what is known as mining. New bitcoins are “mined” and distributed as a reward for maintaining the network. The high power consumption thus contributes directly to the security and decentralization of Bitcoin.

High energy consumption is not automatically bad for the climate. It is more important where the energy emerges: from renewable sources or from fossil fuels? Unfortunately, there are no reliable figures for this, as empirical evidence is scant, thus, scientists use estimates.

By Audy Castaneda

What Does the Arrest of Europe’s “Cryptocurrency Queen” Represent?

Audy Castañeda
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<strong>What Does the Arrest of Europe’s “Cryptocurrency Queen” Represent?</strong>

Last December, Eva Kaili, who was one of the vice presidents of the EU Parliament, was arrested and charged with corruption related to illicit donations from Qatar.

On December 9, Eva Kaili, the so-called “Crypto Queen” of the EU Parliament, was arrested on corruption charges that have rocked the 27-member bloc.

Police raids seized phones, computers, and cash worth 600,000 euros from Kaili and three others, who have since been accused of corruption. Prosecutors suspect that Kaili took illicit funds to lobby on behalf of Qatar, the recent host of the soccer World Cup.

Kaili has dismissed the corruption allegations, saying she is innocent and “has nothing to do with the Qatari bribery.”

While her arrest has captivated EU politicians and observers, it also presents another uneasy association with the industry. Following the collapse of Terraform Labs and FTX, the average viewer can be forgiven for thinking that the industry is full of crooks.

The arrest of Eva Kaili only adds to that ugly picture. It doesn’t help that she was one of the most trusted advocates in the industry.

2023, a Crucial Year for Cryptocurrencies in the EU

Kaili was also one of the few cryptocurrency advocates on the political left. She was also a ranking member of Parliament, serving as one of the fourteen vice presidents from January 2022 until she was arrested and charged with corruption in December 2022.

The coming year will be crucial for crypto companies, lobbyists, and advocates. The Crypto Asset Market Regulation (MICA) harmonizes the rules for crypto assets across the block, establishing a common standard.

During the adaptation period of 12 to 18 months for MICA, the regulation will take effect by the end of 2024 at the earliest. However, the French financial regulator has already called for stricter rules.

Other MEPs Have a Lot to Say about Crypto

One of the loudest-voiced MPs in the cryptocurrency industry is center-left Dutch MP Paul Tang. He has fiercely advocated for stricter scrutiny of non-hosted (or non-custodial) wallets.

An MP with a possibly more balanced outlook is Lidia Periera, a Portuguese MEP who also hails from the centre-right. Her view is that the EU must balance consumer safeguards and maximize opportunities.

Dr. Stefan Berger is another candidate to be the leading cryptocurrency voice in parliament. Like Pereira, his views are moderate and pro-crypto. The German MP generally favors a balance between clear and fair regulation and the promotion of innovation.

He previously blogged about the need for a Euro CBDC and for the EU to be a crypto-friendly environment.

“A digital euro would complement cash, not replace it,” he said. “Europe must set standards instead of following those of others, and a digital euro would be the proof of progress and integration in Europe. Meanwhile, the monetary authorities are called upon to rebuild confidence in the financial system.”

By Audy Castaneda

The Man Who Wants to Find 8,000 BTC in the Trash

Audy Castañeda
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<strong>The Man Who Wants to Find 8,000 BTC in the Trash</strong>

James Howells of Newport, Wales, involved with Bitcoin since 2009, accidentally trashed a hard drive containing his mining transactions.

The year is 2013. James Howells from Newport, Wales is reading the news when it suddenly clicks. He rushes to a drawer in his apartment, pulls the handle, and finds: nothing. Instead of the 8000 Bitcoin key, he is holding the empty hard drive that he really wanted to get rid of.

He had accidentally thrown it in the trash, instead of the hard drive, which he had found. His fortune is now buried under a pile of trash. He told BTC-ECHO how Howells hopes to find the record again.

“That Thing is Pretty Loud”

The Welsh was one of the first people to come into contact with digital gold.

“When I first got involved with Bitcoin, it was just an experiment,” Howells recalls speaking to BTC-ECHO, describing how easy it was to mine BTC back then.

Most of the time he left his laptop on overnight and mined new coins while he slept, so to speak. “Most nights I received 200 coins, 300 coins, 500 coins for a day,” said the IT engineer. He continues laughing: “One day they gave me 1,200 coins. And it was because I fell asleep.

So Howells kept digging for a few weeks until his partner hints at Howell’s gaming laptop fan as a bit noisy due to mining.

“Bitcoin was nothing important at the time.” And with that, Howells put the metaphorical spike and dirty work clothes on his conscience: he stopped mining bitcoin.

The Moment of Truth

In 2010, Howells bought a new computer, this time a Mac. However, at the time, the Bitcoin protocol still doesn’t work on Apple devices. So, during the data transfer from your old laptop to the new machine, it omits your bitcoin data because it is incompatible. As a techie, it’s easy for him to take apart his old laptop and sell the individual parts except for the RAM and the hard drive with the bitcoin it hides.

The Welshman begins cleaning in 2013. “There were two hard drives in the drawer that looked almost identical,” recalls Howells. One of them contains all your personal data: photos, music, and the private key of your bitcoin. The other hard drive is new, never been used. He is in a hurry and grabs one of the hard drives. “Unfortunately, I threw the wrong one in the trash,” Howells told BTC-ECHO.

About three years later, the mother of all cryptocurrencies experienced a huge boost.

Howells considers driving to the dump in Newport to speak with the operators there. He is worried about being called crazy. However, he dares and asks if it is possible to search through the garbage. The operators explain that you need permission from the actual owner, in this case, the Newport City Council.

By Audy Castaneda

Shiba Inu Now ETH Whales’ Top Coin at 178 Billion Before Shibarium Launch

Audy Castañeda
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<strong>Shiba Inu Now ETH Whales’ Top Coin at 178 Billion Before Shibarium Launch</strong>

While the significant whale activity is a bullish development, is it enough to sustain the memecoin’s rally?

Shibarium is an alternative for users to carry out different transactions quickly and at a very low cost. The arrival of this platform to Shiba Inu would allow investors to start making movements without any problem or, directly, invest in the currency itself.

Shibarium has been making headlines ever since Shytoshi Kusama, the founder of the Shiba Inu ecosystem, teased the project in December. Prior to this, SHIB, the ecosystem’s native token, gained 27% in the last 30 days.

This put the token in the eyes of the whales, which landed it on their list of the top five most held tokens. According to whale tracker Whale Statistics, the average amount held by whales is 178 billion SHIB, valued at $1.8 million.

The Essence of Shibarium Release

There is no absolute date as to when the Shibarium update will be released to the public, but the beta version of the update is said to be close to its release date. This would give SHIB holders an idea of ​​what the Layer 2 network solution for Shiba Inu would do.

Based on the latest ShibaSwap blog post, the beta release will give the community an idea of ​​how the various concepts behind the update will work. From lower gas fees to how validators and delegators contribute to the ecosystem, community members would have insight into how these roles intertwine to keep the ecosystem running at peak performance.

The Shibarium update was already underway when the Shiba Inu development team released Shiba Eternity Back on October 6 last year. The Shiba burn mechanism was also implemented in 2021, making the SHIB token deflationary.

The current Shiba Inu burn rate at the time of writing is 50% according to ShibBurn, a website focused on tracking the consumption rate of the SHIB token. When the Shibarium beta release occurs, there may be a higher-than-expected consumption rate, especially in the actual ecosystem release.

What Does this Mean for SHIB?

The SHIB token is currently trading at $0.00001052 and has been trying to consolidate above the support level of $0.00001038. At the current token price, it may face a stronger correction in the short to medium term. This is especially true as the bears are about to retest the current support level.

If the token continues to maintain its momentum, it could retest the $0.00001192 price resistance which, if broken, could regain ground lost when the market crashed after the FTX fall from grace.

With Bitcoin breaking its $21,000 resistance level, as well as SHIB’s high correlation with BTC, Shiba Inu could continue to follow the coin’s momentum above to higher highs in the coming days or weeks.

By Audy Castaneda

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