Nimiq Acquires 9.9% Stake in Germany's WEG AG to Become Bank's Third Crypto Firm Owner

Browser-based blockchain payments system Nimiq acquired a 9.9 percent stake in Germany’s WEG Bank AG, joining existing shareholders TokenPay and the Litecoin Foundation

Browser-based blockchain payments system Nimiq acquired a 9.9 percent stake in Germany’s WEG Bank AG, joining existing shareholders TokenPay and the Litecoin Foundation

PayPal Makes Blockchain Investment in Cambridge Blockchain

It’s a bullish day in the cryptosphere. Paypal makes a blockchain investment and Bitcoin jumps above $5,079 USD. Bitcoin Jump: April Fool’s Joke? Bitcoin gained 21% in early trade and has now slightly corrected back down to $4,712 according to CoinMarketCap. However, no one knows why the Bitcoin jump happened in the first place. Now,…

Paypal blockchain

It’s a bullish day in the cryptosphere. Paypal makes a blockchain investment and Bitcoin jumps above $5,079 USD.

Bitcoin Jump: April Fool’s Joke?

Bitcoin gained 21% in early trade and has now slightly corrected back down to $4,712 according to CoinMarketCap. However, no one knows why the Bitcoin jump happened in the first place. Now, some investors wonder if the rally was the result of some sort of April Fool’s joke.

Zhao Changpeng, the chief executive officer of Binance, tweeted earlier today that he was “clueless” about what may have triggered Bitcoin’s jump.

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SEC Charges Former CEO of Silicon Valley Startup With Defrauding Investors

The Securities and Exchange Commission today charged the founder and former chief executive of a Silicon Valley startup with defrauding investors in Jumio Inc., a private mobile payments company. The former CEO, Daniel Mattes, agreed to pay more than $17 million to settle the charges.  According to the SEC’s complaint, filed in federal court in…

The Securities and Exchange Commission today charged the founder and former chief executive of a Silicon Valley startup with defrauding investors in Jumio Inc., a private mobile payments company. The former CEO, Daniel Mattes, agreed to pay more than $17 million to settle the charges. 

According to the SEC’s complaint, filed in federal court in California, Mattes grossly overstated Jumio’s 2013 and 2014 revenues and then sold shares he held personally to investors in the private, secondary market.  The complaint alleges that Mattes made approximately $14 million by selling his Jumio shares and hid these sales from Jumio’s board.  According to the complaint, Mattes also falsely told an investor that he didn’t want to sell any of his shares because there was “lots of great stuff coming up,” and that “he’d be stupid to sell at this point.”  Jumio restated its financial results in 2015, wiping out most of its revenue, and the shares became worthless after it filed for bankruptcy in 2016. 

“Mattes enriched himself at investors’ expense by making false claims about Jumio’s financial results,” said Erin Schneider, Associate Regional Director for the SEC’s San Francisco office.  “Company executives must provide investors with accurate information irrespective of whether their companies are publicly or privately traded.”

The SEC settled a separate proceeding against Jumio’s former CFO Chad Starkey for failing to exercise reasonable care concerning Jumio’s financial statements and signing stock transfer agreements that falsely implied that Jumio’s board of directors had approved Mattes’ sales.  Starkey entered into a cooperation agreement to assist the SEC.  Starkey, who sold some of his own shares in 2014, will pay approximately $420,000 in disgorgement and prejudgment interest.

Without admitting or denying the allegations, Mattes, an Austrian citizen who now heads a private Austria-based company, has agreed to be enjoined from future similar violations and barred from being an officer or director of a publicly traded company in the U.S., and will pay more than $16 million in disgorgement and prejudgment interest plus a $640,000 penalty. The settlement is subject to court approval.

The SEC’s investigation was conducted by Ruth Hawley, Christina Filipp, and Crystal Boodoo, and supervised by Jeremy Pendrey of the San Francisco Regional Office.

BTC Hits $4,800 for the First Time in 2019, Top Crypto Markets See Double Digit Growth

Bitcoin peaked at $4,800 for the first time in 2019 today, while other top coins are all solidly in the green amid significant market growth

Bitcoin peaked at $4,800 for the first time in 2019 today, while other top coins are all solidly in the green amid significant market growth

Bitcoin Price: Crypto Market Top Ten Green – BTC, BNB, XLM

Where Bitcoin (BTC) goes, the rest of the crypto market tends to follow. And with the top ten in green, it stands to reason that Bitcoin price is also faring nicely. In fact, BTC price as of late has been giving investors food for thought. The first three months of 2019 have seen the coin…

Bitcoin Price

Where Bitcoin (BTC) goes, the rest of the crypto market tends to follow. And with the top ten in green, it stands to reason that Bitcoin price is also faring nicely. In fact, BTC price as of late has been giving investors food for thought.

The first three months of 2019 have seen the coin make double-digit gains and this marks its best quarterly performance since Q4 2017.

While 2018 saw the coin hit all-time-lows, 2019 has surprised somewhat.

Bitcoin Price

Today, Bitcoin price is up 1.29% and selling for $4,157.87 USD …

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Are You Prepared for Your Financial Future? Use the SEC’s Investor Preparedness Checklist to Find Out

Are you prepared for your financial future?  That’s the question the Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) is asking investors. To help investors get started with creating their own saving and investing plan, OIEA developed an investor preparedness checklist to empower them. In addition to encouraging investors to start early and…

Are you prepared for your financial future?  That’s the question the Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) is asking investors. To help investors get started with creating their own saving and investing plan, OIEA developed an investor preparedness checklist to empower them.

In addition to encouraging investors to start early and go to Investor.gov before they invest, the checklist reminds investors to:  identify goals and create a financial plan; pay off high-interest debt; participate in company retirement plans and take full advantage of employer matching; do a background check on any investment professional; understand risk tolerance; understand fees; research investments; maintain a diverse portfolio; and avoid investment opportunities that sound too good to be true.   

Also today, SEC Chairman Jay Clayton released the first of several videos in a new series, “Notes from the Chairman.”  These videos are based on SEC investor town halls and feature Jay Clayton’s top tips for Main Street investors. Further videos highlighting additional investing basics will be released soon. The Chairman’s personal notes from the town halls are also available to the public on SEC.gov.

“As we’ve traveled the country, I have met many, many people who wished they had started investing earlier and not a person who wished they had started later,” said SEC Chairman Jay Clayton. “Get started, get any high interest rate debt under control, diversify, take advantage of employer matching, keep fees and costs down and ask questions are my key messages.”

April is National Financial Capability Month, and OIEA and SEC regional office staff across the country are supporting this effort by participating in education programs and activities with military service members, students, seniors and the general public. The SEC staff is committed to empowering Main Street investors and enhancing their understanding of financial principles and practices.

“Getting practical and unbiased saving and investing information into the hands of Main Street investors is our top priority and something we do everyday in the Office of Investor Education and Advocacy,” said Lori J. Schock, Director of the SEC’s Office of Investor Education and Advocacy. “National Financial Capability Month is a perfect time to call attention to the excellent resources we have on Investor.gov to  help investors navigate their way to a successful financial future.”

Among the themes the SEC’s investor education staff will convey to investors this month:

The Benefit of a Cryptocurrency Project Launch, is the Goodwill Project inside

The Benefit of a Cryptocurrency Project Launch, is the Goodwill Project inside

We have seen lots of cryptocurrencies come and go already for various reasons but one similar item that consistently reap rewards from those cryptocurrency projects is the goodwill they do.

Most of the cryptocurrency project founders want to give back as part of their business plan. They might start and partially fund a new foundation or give to an existing organization, giving it funds that never would have appeared without the cryptocurrency launch.

The goodwill projects not only get a financial injection, they also receive free promotion as being the benefactor of a cryptocurrency project. The financial injection could become a steady stream from successful projects like Ethereum. The free press could bring in new donors as well to goodwill projects.

Almost every day a new cryptocurrency project appears and announces a giveback to the community as part of their business plan. This has become a normal part of most cryptocurrency project launches with supporters looking for projects with these characteristics in the business.

The investors want their investment dollars performing two main things, one, growing in value, two, giving back to the community. So, when your investing in a cryptocurrency project remember to look at their goodwill project associated with the launch. You can feel good too, knowing your supporting the goodwill project with your investment.

 

Robert Armstrong

 

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Pakistan Plans New Digital Currency Regulations Following FAFTA’s Urging

After almost a year of cryptocurrency being formally illegal, Pakistan plans to implement a new licensing scheme for electronic money institutions

After almost a year of cryptocurrency being formally illegal, Pakistan plans to implement a new licensing scheme for electronic money institutions