Three men have been charged by US prosecutors with helping run a $722-million cryptocurrency fraud that amounted to a “high-tech Ponzi scheme”.
Blockchains. They’re all the rage. The fervour of blockchain believers has been matched only by the furious scepticism and dismissal of its naysayers. Can we just stop? Please! By Cayle Sharrock.
Bitcoin sank nearly 10% to the lowest level in six months, extending last week’s slide past the weekend on concerns about a crackdown on cryptocurrency operations by China.
Bitcoin’s sell-off deepened on Friday, putting the digital token at the lowest level since May, after it dropped below yet another key support level.
The largest cryptocurrency’s slide snowballed on Monday, with the price dropping as much as 5% to test the key $8 000 level, which it hasn’t breached since the end of October.
A Texas academic created a stir last year by alleging that bitcoin’s astronomical surge in 2017 was probably triggered by manipulation. He’s now doubling down with a striking new claim.