TagNorway

Norway's $1 Trillion Sovereign Wealth Fund Bought the Dow Jones Dip

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dow jones us stock market bull

At the end of December 2018 and throughout the past two months, Norway's Sovereign Wealth Fund has continuously bought the Dow Jones dip, acquiring $22 billion in equities in companies like Apple, Microsoft, and Alphabet as share prices cratered. Although the $1 trillion fund of Norway recorded its first official loss in 8 years, the fund aggressively built up its portfolio dominated by stocks...

$1 Million in Bitcoin Ransom Paid, American in Costa Rica Still Missing

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Twelve people suspected to be involved in the kidnapping of the American businessman William Sean Creighton Kopko in Costa Rica have been arrested. Nine of the suspects were arrested in Costa Rica while three were nabbed in Spain, according to Television New Zealand. It's now three months since the American businessman was kidnapped in the Central American country. Kopko’s family paid a ransom of...

Millionaire Missing Since October 31st, Husband Found Threat Note Demanding 9 Million Euros in Monero

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Norwegian Anne-Elisabeth Falkevik Hagen (68) has been missing since October 31st last year according to the Norwegian Police. Her husband, Tom Hagen, is Norway's 172 richest person according to Kapital. Serious threats have been made by what appears to be the kidnappers, which is why the police has kept a low profile since they started investigating the missing person case in November 2018. The...

Norway’s Massive Pension Fund Loses $3 Billion+ on its Apple Investment

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bitcoin oil

The giant Norwegian “Oil Fund,” or Government Pension Fund Global, has over $1 trillion in assets and one of its largest single investments is in tech-behemoth Apple. The fund is the largest sovereign wealth fund in the world and consists of two wealth funds operated by the Norwegian government, the first was formed in 1967. The part known as the Oil Fund was established nearly three decades ago...

Norway: Tax on Crypto Mining Scares away $116 Million Foreign Investment

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bitcoin mining gmo bitmain

NTC Services AS revealed that a foreign investor had stopped an $116 million investment into a crypto mining facility which was going to be built in Norway's Tydal municipality. The data center consultancy told E24 that the investor went cold feet after hearing about the Norwegian government's decision to exempt crypto mining centers from electricity tax subsidies. He decided to cancel the...

'Fat-Finger' Error Costs Norwegian Bank Storebrand Nearly $500 Million in Value

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fat finger crypto norwegian bank

Editor's note: The article and headline have been updated with the correct figures for Storebrand's market cap. Storebrand, a leading Norwegian financial services group worth more than $3 billion shed 14 percent of its share value on Wednesday morning after falling victim to a phenomenon known as a "fat-finger" error. The term refers to an erroneous keyboard or mouse input that places a buy or...

Norway Bitcoin Miners Eye Exodus to Sweden after Electricity Tax Hike

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bitcoin mining vulnerability

The Norwegian government's decision to scrap tax subsidy on the power conferred to bitcoin miners is prompting them to migrate offshore. According to Erik Svensson, who serves as the director to Boden Business Agency, a Sweden-based data center company, bitcoin miners from neighboring Norway region are interested in moving their data centers to Sweden. He confirmed being contacted by many of...

Norway Removes Tax Breaks for Bitcoin Mining as Crypto Firm Labels it a 'Disaster'

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Norway, a country known for its green crypto mining outfits, has decided to roll back a tax structure which previously allowed cryptocurrency miners to be taxed on power consumption at the same rate as other industries which use a lot of energy, according to a local news outlet. A parliamentary representative named Lars Haltbrekken told Aftenposten.no: Norway can not continue to provide huge tax...

Norway Bitcoin Investor Murder: Suspect Arrested in France

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Makaveli Lindén Bitcoin investor murder Norway

Makaveli Lindén, the primary suspect in the gruesome murder of 24-year-old Norwegian bitcoin investor Heikki Bjørklund Paltto, is in police custody following a successful international manhunt. Swedish news outlet Aftonbladet reports that Oslo police have confirmed that Lindén, 20, has been captured more than a week after he allegedly stabbed Paltto to death in the latter’s apartment in Oslo’s...

Norway Bitcoin Investor Murder: Suspect on the Run, Wanted by Interpol

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Makaveli Lindén Bitcoin investor murder Norway

The Oslo police department has released the name and photograph of the suspect that they believe is behind the grisly murder of Heikki Bjørklund Paltto, the 24-year-old cryptocurrency investor who was murdered last week shortly after completing a sizeable cash-for-bitcoin trade. According to Norwegian news outlet Verdens Gang, police have charged 20-year-old Swedish citizen Makaveli Lindén with...

Slain Bitcoin Investor Was Cashing out to Buy an Apartment

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bitcoin investor murdered in Norway

The Norwegian cryptocurrency investor who earlier this week was brutally murdered following a cash-for-bitcoin exchange was reportedly liquidating his holdings so that he could buy his own apartment. CCN reported yesterday that the 24-year-old investor had been stabbed to death in his apartment on Monday morning, sometime between 7:50 am and 12:10 pm, when one of his roommates returned home to...

Norwegian Man Brutally Murdered Following Bitcoin Trade

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bitcoin crime scene

A Norwegian man was brutally stabbed to death shortly after completing a cash-for-bitcoin exchange, and investigators believe that the two events may be linked. According to Norwegian news organization TV 2, the stabbing occurred on Monday morning at the 24-year-old victim’s apartment in Majorstuen, an affluent neighborhood in Oslo, likely between 7:50 am and 12:10 pm -- when one of his roommates...

Norwegian Bitcoin Mining Firm Hit with Bomb Threat Risks Being Shut Down

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Barely a week after receiving bomb threats, Kryptovault now has to contend with another threat -- forced closure by local authorities. According to the Norwegian edition of The Local, one of the bitcoin mining facilities that Kryptovault runs in Norway is at risk of being shut down by the local municipality following noise pollution complaints from residents. The residents say that the huge fans...

Bitcoin Mining Farm in Norway Receives Bomb Threat as Noise Complaints Mount

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norway bitcoin mining bomb threat

It appears that the cryptocurrency revolution is not all that welcome in Norway, with a bitcoin mining facility in a remote part of the country receiving a bomb threat. According to the Vakdalposten newspaper, the mining company, which is called Kryptovault and operates in the cities of Follum, Honefuss, and Dale, received the bomb threats on Saturday after a report on the company appeared in a...

Norwegian Air CEO Launching Bitcoin Exchange, May Sell Tickets for Crypto

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Billionaire Norwegian Air CEO Bjørn Kjos launched the Norwegian Block Exchange (NBX) in April, a company executives say "will explore and exploit potential opportunities that lie in blockade and ledger technology." The company raised $250,000 in a first capital round and is owned by a company called Observatoriet Invest, although Stig Kjos-Mathisen, Kjos' son-in-law and chairman of NBX, says...

Norway's Largest Bank Partners IOTA for Distributed Ledger Solutions

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IOTA announced a partnership with DNB ASA on May 31. As part of the partnership, DNB and IOTA are exploring ways to implement the new technologies and processes made possible IOTA's "Tangle." DNB is the largest financial service firm in Norway based on market capitalization. The firm specializes in investment banking, global markets, and corporate banking. It is a global leader in banking for the...

Cash-Free Norway Proposes a State-Issued Cryptocurrency

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Preparing for a future that is powered by digital currencies, the Central Bank of Norway released a framework on May 21, 2018, describing a state-issued cryptocurrency. Public Interests at Focal Point of Paper Titled “Central Bank Digital Currencies,” the 55-page report goes on to detail several factors, mechanisms, and considerations involved in creating a “robust and efficient payment system,”...

Norway Government Welcomes Bitfury to Open $35 Million Bitcoin Mining Datacenter

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Bitcoin industry giant Bitfury is opening a new bitcoin mining center in Norway, bringing investments and jobs in a move that has “delighted” the country’s government. In an announcement on Tuesday, the BitFury Group revealed details of its expansion into Norway with - what it deems - a sustainable, energy-efficient ‘datacenter’ in a foray backed by the government. Breaking news - Bitfury has...

Norwegian Prosecutors Demand Silk Road Drug Dealers Repay Bitcoin Profits

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Prosecutors are demanding three men charged with selling drugs online in Norway repay their profits in 120 BTC and millions in Norway kroner, the first time the country has demanded payment in bitcoin, according to RT newswire. The men allegedly sold drugs using Silk Road and other underground websites to sell drugs, according to prosecutor Richard Beck Pederson. The payments were mostly made...

Norway Authorities Nab 15 Drug Dealers In Silk Road '2.0’ Operation

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Silk Road

Norway police made their largest drug bust ever last month when they arrested 15 people selling drugs on what they claim is the second version of the notorious Silk Road online marketplace that the U.S. Federal Bureau of Investigation closed in 2013, according to the The Local Europe AB, a Swedish news source. Investigation Launches Kripos, Norway’s National Criminal Investigation Service...

Justcoin Rights Acquired by ANX Hong Kong Bitcoin Company

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It looks as though Justcoin, a Norwegian-based bitcoin exchange, isn’t leaving after all. ANX, a Bitcoin company based in Hong Kong, announced today that they are the new owners of Justcoin’s domain and brand rights. ANX said they were able to migrate the Justcoin platform in less than a week with the ANX proprietary trading engine and “white-label capabilities.” Hugh Madden, chief technical...

Norwegian Bitcoin Exchange Justcoin Exits Gracefully after Being Dropped By their Bank

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Justcoin's founders have reported to CCN that over 96% of users have withdrawn their fiat and cryptocurrency. These include Ripple and Stellar amounts previously taken in a hack earlier this year. Since the announcement of their closure, Justcoin's support staff has been working double time to manually process all withdrawals. The confirmations of successful withdrawals have been reported from...

Norway: "Bitcoin loss is Tax deductible"

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Here are some great news for you if you are concerned of the future to Bitcoin and other cryptocurrencies. Norway's Tax Administration has just announced that Bitcoin losses are tax deductible which means that if you do lose on your Bitcoin investments, you can get your money back by deducting your losses from the taxes you were supposed to pay. Here is an excerpt in Norwegian: Skattedirektoratet...

Breaking News: Norway Doesn't Consider Bitcoin a Legitimate Currency

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Bitcoin has just taken another hit. Norway's director general of taxation, Hans Christian Holte, doesn't consider Bitcoin real money. Instead, the Norwegian government will consider Bitcoin as an asset subject to capital gains tax. Furthermore, there will be a high 25% sales tax for businesses making transactions in Bitcoin. According to Holte, "[Bitcoin] doesn't fall under the usual definition...