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Billionaire John De Mol Takes Facebook to Court Over Fraudulent Bitcoin Ads

John de Mol, a Dutch billionaire and media magnate, has recently sued Facebook over fraudulent bitcoin ads that showed him next to quotes about how much money he purportedly made investing in BTC with a company that was swindling users.

According to Reuters, De Mol’s lawyer has claimed the businessman, who created the reality show ‘Big Brother’ and is one of brains behind the Endemol entertainment studio, is suing the social media giant over damages to his client’s reputation, and over Facebook’s inability to stop the ads from appearing altogether.

De Mol’s lawyers would, as such, like to see Facebook automatically block ads featuring him and cryptocurrencies. The businessman’s lawyer further claimed consumers sent a total of €1.7 million (around $1.9 million) to the scammers, before Facebook reacted to complaints and removed the ads from its platform.

De Mol is also looking to get the names of those behind the fraudulent bitcoin ads, so he can hand them over to authorities. Jacqueline Schapp, one of his lawyers, argued that Facebook’s system of reacting to users reporting problems isn’t good enough.

I don’t know what reality Facebook lives in, but that doesn’t work.

Facebook’s lawyer, Jens van den Brink, revealed the company couldn’t be forced to monitor every ad that goes through it all the time, and that it’s “technically impossible” to block ads with De Mol’s name on it, as other people have the same name.

Van den Brink also added Facebook has met with Dutch financial market regulator AFM this month to discuss ways to combat scammers on its platform. It’s worth noting that Facebook banned cryptocurrency-related ads last year to stop them, but later on lifted the ban.

A judge at the Amsterdam District Court gave both parties two weeks to come up with a reasonable solution. If they fail to reach an agreement, the judge noted he would rule on the case.

This isn’t the first time celebrities are used to get users to buy into fraudulent cryptocurrency schemes through Facebook’s ads.

Source: CryptoGlobe

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Local Bitcoins Removes Cash-for-Crypto Trading Option

Helsinki-based peer-to-peer exchange LocalBitcoins has reportedly removed the option allowing users to buy or sell cryptocurrencies in person for cash.

In a Reddit post Sunday, a LocalBitcoins user pointed out the option was no longer available on the platform, though commenters some suggested the restriction might be limited to the U.S..

The removal of the option – which basically acts as a matchmaker for users to make trades in person – effectively bars LocalBitcoin users from selling and buying bitcoin for cash. LocalBitcoins has also cancelled pending fiat trades, other comments suggest.

The platform has not yet made an official announcement about the change on its blog or Twitter.

In response to the move, LocalEthereum announced has temporarily removed the trading fee on cash-in-person exchanges – effective June 1 to July 1.

LocalBitcoins’ move comes after the company announced in February that it would comply with the European Union’s (EU) new anti-money laundering directive.

Several other P2P cryptocurrency trading platforms still offer an in-person cash option.

Handing over dollars image via Shutterstock

Source: Pivot – Blockchain Community

Bank Of England Governor Might Open Opportunity For Ripple Tech, Says That Payments Across Borders Should Be Indistinguishable From Those Across The Street

The Governor of the Bank of England, Mark Carney, has vowed to transform the central bank in preparation for the upcoming “fourth industrial revolution.”

Speaking at the Innovate Finance Global Summit, Carney said that he would focus on encouraging innovation among fintech startup, and making climate change and Artificial Intelligence (AI) priorities.

Carney stressed on the emerging digital economy, which many developing nations are preparing for by embracing blockchain technology and decentralized systems.

The Governor of the Bank of England, Mark Carney, has vowed to transform the central bank in preparation for the upcoming “fourth industrial revolution.”

Speaking at the Innovate Finance Global Summit, Carney said that he would focus on encouraging innovation among fintech startup, and making climate change and Artificial Intelligence (AI) priorities.

Carney stressed on the emerging digital economy, which many developing nations are preparing for by embracing blockchain technology and decentralized systems.

The second great wave of globalisation is cresting. The Fourth Industrial Revolution is just beginning. And a new economy is emerging. That new economy requires a new finance. A new finance to serve the digital economy, a new finance to support the major transitions underway across the globe, and a new finance to increase the financial sector’s resilience.

Carney also spoke of the changing nature of the way we exchange value,

Consumers and businesses increasingly expect transactions to be settled in real time, checkout to become an historical anomaly, and payments across borders to be indistinguishable from those across the street.

Though Ripple is not mentioned by name, the kind of solutions that Ripple offers is a partial answer for the kind of upgrade that Carney speaks of. The cross-border solutions that Ripple provides has been warmly welcomed by banks across the world.

Earlier this year, the World Economic Forum released a report that showed over 40 central banks across the world were conducting research and/or implementing blockchain solutions. Certainly there is a lot to be gained by established entities adopting the technology, IMF Managing Director, Christine Lagarde, has also said that “cryptocurrencies clearly shake the world.”

Abhimanyu Krishnan
About Abhimanyu Krishnan

Abhimanyu is an engineer on paper but a writer by living. To him, the most celebratory aspect of blockchain technology is its democratic nature. While he’s hodling, he can be found reading a good book or making the local dogs howl with the sound of his guitar playing.

Source: Bank Of England Governor Might Open Opportunity For Ripple Tech, Says That Payments Across Borders Should Be Indistinguishable From Those Across The Street

Stellar XLM/USD Above $0.1130: Latest Updates Regarding XRP’s Competitor

The 8th largest cryptocoin by market capitalization [current – $2.1 bln] is one of the only in the green as today’s market performance with 3.65% in the green leading the BTC market by 4.00%.

The aforementioned value movement marks out a monthly [30 days of trading] gain of 36.144 percent with the positive April crypto trending tending to go higher. Breaking above the monthly declining trend-line opened gates for further increase at least for the days ahead.

Source: Stellar XLM/USD Above $0.1130: Latest Updates Regarding XRP’s Competitor

CoinMarketCap Introduces New Metrics for Crypto Fundamentals

Cryptocurrency market data platform CoinMarketCap has added a new metric to their site for measuring the fundamentals of cryptocurrency projects.The new rating system dubbed the Fundamental Crypto Asset Score (FCAS) measures cryptocurrency projects “health” by considering user activity, developer behavior, and market maturity. Basically, the service provides insight into the growth and development of a project: “We intake raw blockchain data across relevant projects and parse them internally. Once we clean, analyze, and recreate the raw data elements, we combine them with market data gathered from various sources to inform our models……..

Source: CoinMarketCap Introduces New Metrics for Crypto Fundamentals

ICE, the Parent Company of Bakkt, Announces 58 Crypto They Look to List

The Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE) and upcoming digital asset platform, Bakkt has released a list of crypto projects they are looking to list and track on a Twitter post. Per the tweet, ICE’s Data Services will be researching and tracking a total of 58 cryptocurrency projects as well as 19 fiat currencies. These projects are compiled in their ‘Cryptocurrency Data Feed’, which will provide the research team with both historical and real-time price data of the cryptocurrencies from all over the world. There are over 2000 cryptocurrency projects in the space and ICE has selected just 2.75% of the total number of cryptos to research and track. The entire list of 58 cryptocurrencies can be found in the Twitter thread seen above and the real-time analysis of these cryptos will be available on the data feeds official website………

Source: ICE, the Parent Company of Bakkt, Announces 58 Crypto They Look to List

Enjin Coin Price Gains Another 20% as Bullish Momentum Returns

Due to all of the rather uneasy cryptocurrency market momentum in place right now, it remains to be seen how things will unfold over the next few hours and days. While there is some excitement in certain markets, the top currencies are rather disappointing right now. The Enjin Coin price, which recently saw a major value surge, is still going strong as of right now. Enjin Coin Price Resumes its Uptrend.No one will be too surprised to note some altcoins succeed in noting strong gains whereas the majority of the top coins are struggling. While projects such as Enjin Coinwould certainly benefit from bullish Bitcoin price momentum, it seems they can effectively move on their own as well. That is part of what cryptocurrency so interesting right now, as one never knows where the next batch of profits might come from……

Source: Enjin Coin Price Gains Another 20% as Bullish Momentum Returns

Crypto Prediction: Bitcoin (BTC) If $4,000 Isn’t Inbound, Test Of $3,000 Possible

2019 is finally upon the cryptosphere, which was beaten and bruised to hell and back during 2018. And with this new year, it seems that the powers that be — the whales, Wall Street institutions, industry insiders, and purported manipulators — have collectively decided that to impose a Bitcoin price lull. In fact, a recent report from CoinDesk revealed that BTC’s volatility is down 98% year-on-year, as crypto continues to sip on the proverbial sangria…….

Source: Crypto Prediction: Bitcoin (BTC) If $4,000 Isn’t Inbound, Test Of $3,000 Possible

Crypto Currency Trend Trading Daily Reports By Ed Akehurst

You know how overwhelming the crypto world can be. New coins appear almost every day, volatility can run amok. You know the profits are in the volatility… but that’s also where big losses can occur. It’s tough enough to figure out what you want to invest in, it’s even tougher to figure out WHEN. If you’re like most people, you start diving into all the reports, trends, and charts you can find, if you can even read them They’re a science of their own — you can find.

The problem is, once your head stops spinning and you get past your analysis paralysis, the information is already out of date. So you start trying to read faster and spend more time. Pretty soon, research has consumed your life and you’re ready to pack it in. Or, you just give up looking for opportunities and go with the easy investment in a single cryptocoin, losing the advantages that diversification gives.

Read more: http://bestcryptocurrencies.com/main-subscription-sales/

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