Bitcoin Breaks 3 Years Price Record

Bitcoin price has bounced back from last week price fall to overtake the all-time price record of 2017.

Bitcoin set a new record as it sold above $ 19,800 on Monday, beating the 3 years all-time high of $19700.

European Central Bank President Says Crypto is Risky to Invest in

President of the European Central Bank, Christine Lagarde said that bitcoin and other crypto-assets are risky and could threaten financial stability and monetary sovereignty because of their instability in value.

In an article she penned in L’ENA hors les murs magazine, she said that cryptocurrencies cannot “fulfil all the functions of money” by relying purely on technology and the flawed concept of there being no identifiable issuer or claim.

Raoul Pal to Invest 98% of Net-Worth in Crypto

Raoul Pal, the CEO and co-founder of Real Vision Group and Global Macro Investor, has announced on Monday, November 30, 2020, that he will liquidate all his gold holding and invest heavily in Bitcoin and Ethereum.

Raoul who made this revelation on his Twitter page said that he will be investing a whopping 98% of his total liquid net-worth in cryptocurrency.

U.S Extradites AirBit Club Co-Founder From Panama

The United States Department of Justice has extradited Gutemberg Dos Santos, the co-founder of Ponzi scheme, AirBit Club, which has allegedly defrauded victims of tens of millions of dollars from Panama, where he was arrested to U.S.

Audrey Strauss, the Acting U.S Attorney for Southern District of New York said in a press release that Gutemberg, who has been involved in the Ponzi scheme since September 2015 is faced with charges relating to international fraud and money laundering alongside his co-defendant after promising “extraordinary rates of return on phantom investments in cryptocurrencies, defrauding victims of tens of millions of dollars.”