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A Russian district court has dismissed bitcoin theft as a crime since cryptocurrency is not regulated in Russia and there is no legal status for bitcoin. The accused were found guilty, sentenced to prison, and ordered to return only the fiat money stolen — not cryptocurrencies. St. Petersburg’s Petrogradsky District Court has announced the verdict in a theft case involving bitcoin filed in December, the joint press service of the judicial system of St. Petersburg announced on Tuesday. The two accused, Peter Piron and Yevgeny Prigozhin, disguised as officers of the Federal Security Service of the Russian Federation (FSB) in 2018, forced the plaintiff to transfer cash and cryptocurrencies to them. Under the threat of torture, the cryptocurrency owner transferred five million rubles and cryptocurrencies, including 99.7035 bitcoins. The  BTC  was worth more than 48 million rubles ($680,640) based on the exchange rate on June 3, 2018, the court announcement details. Current...

United States cryptocurrency exchange Coinbase Pro announced the listing of COMP, the token powering the decentralized lending protocol Compound. According to a Thursday announcement, COMP trading will start on June 23 at 9 a.m. Pacific Time if the liquidity requirements are met. Furthermore, users will be able to deposit their COMP tokens the day hours before the trading activity is scheduled to start. Trading will start progressively After a sufficient — and unspecified — supply of COMP tokens make their way to Coinbase Pro, the exchange will progressively roll out trading functionality for the tokens. There will be two trading pairs including the token in question, namely the COMP/Bitcoin ( BTC ) and COMP/U.S. dollar pairs. Initially, the pairs will be available in post-only modes. Limit orders will be allowed sometime thereafter. Once the firm ’ s expectations for what constitutes a healthy market are met by the pairs, full trading with the market, stop and limit order...

The blockchain-based digital payment project, Electroneum, will be launching an in-app electricity top-up feature across four African countries — Nigeria, Senegal, Mali and The Gambia. The electricity payment platform will allow Electroneum app users to recharge their electricity meters directly from the app installed on their mobile phone by paying in Electroneum tokens. According to data obtained from Coinmarketcap, Electroneum ranks 64th as the most valuable cryptocurrency in the world, with a market capitalization of about $95 million dollars, trading up by 5%, with price at $0.0093 at the time this report was drafted. Currently, there are roughly 1 million active ETN app users. With over 2.4 million downloads of the ETN app, the company is perceived to be proactive in getting in touch with a lot of people in developing countries. Their partnership with NGOs in these nations is a capable method of guaranteeing broader use of cryptos. Furthermore, a...

The world's largest smartphone maker,  Samsung , has integrated the   Gemini   exchange into its Blockchain Wallet on Galaxy smartphones in the US and Canada.   (Updated at 13:36 UTC: a quote by Jeanine Hightower-Sellitto has been added). By connecting their Samsung Blockchain  Wallet  to the Gemini mobile app, users can buy and sell crypto, view their Gemini account balances, and also transfer their crypto into cold storage with Gemini Custody, the exchange  said . They're the first US crypto exchange and custodian to partner with South Korean giant, according to the announcement. The Samsung Blockchain Wallet and the Gemini Mobile App are available in the Samsung Galaxy Store for these devices: Galaxy S20 Series, Galaxy Z Flip, Galaxy Note 10 Series, Galaxy Fold, Galaxy S10 series (Verizon excluded). “It’s a full integration between the two apps that’s very transparent and very easy to use,” Jeanine Hightower-Sellitto, Managing Director of Operations...

Bitcoin  has been experiencing high volatility in recent months. The flagship cryptocurrency is yet to perform as expected, since its third halving event, which occurred on May 11. Many cryptocurrency traders and investors expected that the event (Bitcoin halving) would boost Bitcoin’s bullish run in the short and mid-term. Bitcoin addresses that own at least a hundred Bitcoins have increased their ownership level to another 12,000, according to data obtained from a cryptocurrency analytic firm, Santiment Research Company. The new purchase is worth around $108 million based on the current market prices. The research company stated that,  “Since Bitcoin’s drop below $9,500 on May 20, addresses holding 100 or more Bitcoin have added another 12,000 BTC to their bags – more than $108,000,000 at current prices.”  What are Bitcoin whales?  In the Bitcoin world, investors or traders who own a large number of Bitcoins are typically called Bitcoin whales. This means a Bitcoin...

After a sharp downside correction, bitcoin price found support near the USD 8,650 level. BTC started an upside correction and it is now (08:30 UTC) trading near the USD 9,000 level. To continue higher, it must clear the USD 9,050 and USD 9,200 resistance levels. In the past three sessions, a few smaller altcoins gained more than 5%, including ZIL, ENJ, THETA, HBAR, MATIC, ZRX, MANA, SNT, IOST, NEXO, LUNA, and DX. Out of these, ZIL climbed around 20% and ENJ jumped more than 15%. Overall, bitcoin price is currently correcting higher and reaching the USD 9,000 level. To continue higher, BTC price must surpass the USD 9,200 hurdle. If not, there is a risk of another decline towards the USD 8,550 level. What Are Altcoins? Altcoins are the other  cryptocurrencies  launched after the success of  Bitcoin . Generally, they sell themselves as better alternatives to Bitcoin. The term "altcoins" refers to all cryptocurrencies other than Bitcoin. As of early 2020, there were more tha...

Bitcoin cash price  is currently trading in a range near the USD 230 level. On the upside, BCH is facing a lot of hurdles near the USD 240 level, above which the price might start a steady rise. If not, there is a risk of a bearish extension towards the USD 220 support zone. Litecoin  is currently testing the USD 42.20 and USD 42.00 support levels. LTC could decline further towards the USD 40.00 level, which is a crucial support. To move into a positive zone, the price must break the USD 43.50 level and then gain traction above the USD 45.00 resistance.  XRP price  is consolidating above the USD 0.190 and USD 0.192 support levels. The price is currently trading near USD 0.195 and it might climb towards the USD 0.200 resistance level. If there is a successful close above USD 0.200, the bulls might attempt to gain strength and push the price towards the USD 0.205 and USD 0.208 levels.

Just days after an Ethereum-based decentralized finance (DeFi) token  surged 400 percent earlier this week  because of users of the anonymous messaging board 4chan, it happened again. And this time, the  altcoin  saw gains of more than 400 percent. Much, much more than 400 percent. The issue is: the token that rallied has no intrinsic value, but people bought it anyway. Ethereum token registers 100x in two hours Contrary to what you hear, lightning can strike twice — only in the crypto space anyway. On May 17, the price of Opyn CDAI Insurance (OCDAI) — a token created by a DeFi protocol known as Opyn that allows users of  Compound  to obtain insurance on their deposits — rallied 400 percent in two hours. On May 23, the price of Opyn y.curve Insurance (OCRV) — a token from Opyn that allows users of Curve.fi to obtain insurance on their deposits — rallied by over 10,000 percent in two hours. OCRV, according to the chart below, rallied f...

It’s been a rocky past few days for Bitcoin, Ethereum, and other top cryptocurrencies. From the monthly highs against the dollar, most digital assets are down 10%. But when measuring the performance of some cryptocurrencies against Bitcoin, some investments are outperforming. Ethereum is a perfect case in point, which has rallied 10% against BTC over the past nine days. Chart from TradingView.com of ETHBTC’s price action over the past few weeks. The trading pair is up 10% in the past nine days or so. Analysts say this is a precursor is a performance to even greater gains, though there still exists a risk of a medium to a long-term decline in the broader altcoin market, which would likely threaten ETH. Ethereum Poised to Rally Against Bitcoin, Analysts Say Luke “Venture Coinist” Martin — a prominent cryptocurrency trader and podcaster — suggested this week that ETHBTC is subject to rally even further in the coming days. He shared the chart below,  which indicates that amid the recen...

In 2019 Google Trends, Lagos, Nigeria was the number one city based on online search volumes for Bitcoin worldwide. While recently, in May 2020, Arcade Research ranked Nigeria fifth globally with its 11% of connected Nigerians owning or using cryptocurrencies. In addition, data obtained from Coinmarketcap recently revealed the  largest cryptocurrency users around the world, with Nigeria surging by 46% among its youth users. As a country,  it gains stood Nigeria Up 211% . These trends have shown that Nigerians do have a high passion for digital currencies and are among the greatest users of cryptocurrencies in the world. This is based on a major fact that Nigerians are using cryptos to avoid expensive and heavily bureaucratic money transfer systems currently available. Many Nigerians rely on remittances for their daily activities and any way of making the process effective cheaper would be of great benefit to them, this is where Bitcoin comes in What you need to know:  Cryptocu...

Tether  has surged past XRP in market capitalization for the second time running, in less than 10 days. It has become the third most valuable cryptocurrency based on the rush for digital coins with more stable prices. Tether, trading at $1 at the time this report was drafted, has a market capitalization of $8.803 Billion, according to data obtained from coinmarketcap. It is now bigger than XRP, whose market capitalization is roughly $8.58 billion now. Tether is currently second only to Ethereum (ETH) as the most valuable altcoin in the cryptocurrency market.  What you need to know : Tether is designed as a blockchain-based cryptocurrency whose digital coins in circulation are backed by the same value of traditional fiat currencies, like the U.S dollar, Japanese Yen, or the Euro. It trades under the ticker symbol USDT. The growth of Tether’s mar...