Bitcoin Plunge to $1000 Not Out of the Question, Exchange Founder Arrested

Written by:
Published on:

Bitcoin Could Plunge to $1000 - A plunge to US$1,000 or lower is not out of the question. Almost every commodity that has seen such sharp climbs has seen equally sharp falls. Eric Reguly reports on the rise and fall of bitcoin so far.

Bitcoin’s post-peak tumble shows unavoidable doom ahead for cryptocurrencies, The Globe and Mail suggests. 

The newsletter requires a registration.

US Government Arrests Bitcoin Stock Exchange Founder - The owner of BitFunder, a long-defunct, bitcoin-denominated stock exchange, has been arrested by the U.S. government.

The charges against Jon Montroll, also known as "Ukyo," were unveiled Thursday by the U.S. Justice Department following an investigation that involved the Federal Bureau of Investigation (FBI) and the Securities and Exchange Commission (SEC). The SEC is pursuing civil charges against Montroll in a separate action, alleging that he operated an unlicensed securities exchange and defrauded investors.

The complaint reveals that Montroll was the target of a hacking effort that enabled those behind the attack to credit themselves funds. This resulted in the withdrawal of roughly 6,000 bitcoins from WeExchange, rendering the services insolvent.

Montroll was arrested Wednesday, according to the U.S. Attorney's Office Southern District of New York.  Source:

Some Cryptocurrency Stability Thursday - While cryptocurrency trading was trending downwards Thursday, Bitcoin had dropped just below the $10,000 mark by evening.  That represented a less than 1% drop.

Bitcoin Cash, Ethereum and Litecoin were all seeing between a half point to one-and-a-half-point 24 hour dropoff.  Not bad!

- Aaron Goldstein,

Business/Financial News

Canada Tech Entrepreneur Bashes Bitcoin Cash Before Committee, Reddit Community Furious

Speaking before Canada’s House of Commons Standard Committee on Finance Tuesday, Canadian entrepreneur Jonathan Hamel warned: “Pay close attention, other cryptocurrencies are downright scams, like BCash [Bitcoin Cash (BCH)].”

Abra Wallet Adds Support for Bitcoin Cash, Other Cryptocurrencies

Abra Wallet Adds Support for Bitcoin Cash, Other Cryptocurrencies

Abra Wallet is the latest platform to incorporate the 4th most popular digital coin Bitcoin Cash.  The Abra app is available for both Android and iOS devices. 

Hardware Cryptocurrency Wallet Demand Grows in South Korea

Hardware Cryptocurrency Wallet Demand Grows in South Korea

According to local reports in South Korea, demand for hardware wallets is increasing exponentially. The demand has stemmed from attempted hacks last year against domestic trading platforms like Upbit and Bithumb.

Alt-Coin Bear Market Largely Over Claims Expert

Alt-Coin Bear Market Largely Over Claims Expert

Speaking to Bloomberg News Tuesday, Fundstrat Global Advisors LLC suggested that the alt-coin bear market is mostly over and this is illustrated with his firm’s measure of alt-coins showing a sharp 75 percent decline in the group over the past 64 days.

eSports Reward Token (ERT) to be Listed on HitBTC Exchange, ambitious project to become the leader in the eSports industry, announces its token issuance on one of the top CryptoCurrency exchanges, HitBTC (