Crypto Scammers Meet Their Match in Texas Securities Chief Joe Rotunda

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By CCN Markets: Crypto fraudsters beware. Texas' top securities chief is watching you like a hawk, and he's not a fan of your scammy ICO. He’s Joe Rotunda, Director of the Enforcement Division for the Texas State Securities Board. He’s held the position for the last 12 years. ICO scammers find no sympathy in Texas Rotunda is easy-going, even humorous at times. However, he's the epitome of the...

Texas Regulator Takes 'Emergency' Action Against Obvious Crypto Scam


Travis J. Iles, the Securities Commissioner of Texas, isn’t taking any guff from a site called FxBitGlobe. Iles issued an “emergency” cease and desist order to FxBitGlobe, ordering them to quit attempting to do business with anyone in the great State of Texas. Site Lists Fake Houston Address The order outlines the hilarity of the scam in exhaustive detail that only a group of lawyers could manage...

Trump Declares War on OPEC, Saudis Laugh as Oil Price Surges

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Donald Trump is ramping up his attack on oil prices as US crude hit a 5-month high today. While up to now the US president has been focused on denouncing high energy costs via Twitter, it appears he now is looking to do more than merely bash OPEC online. As CNBC reported, the US wants to ensure “dominance” in this sector through a blockbuster executive order designed to boost pipeline...

Texas Weighs Draconian Cryptocurrency Regulations with Mandatory KYC & Privacy Coins Ban

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An untitled bill before the Texas legislature is just ridiculous. House Bill 4371, which is less than 500 words long, calls for people to “verify” the identity of senders before receiving cryptocurrency. The bill also introduces to Texas law a difference between “verified” digital currencies and non-verified ones. It specifically seeks to “promote the use of verified identity digital currencies,”...

More Layoffs: Bitcoin Mining Giant Bitmain Makes Cuts in Amsterdam & Texas

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Bitmain's problems continue, as the world's largest bitcoin mining firm has announced a fresh round of layoffs. Bitmain is rumored to have lost over $700 million in Q4 2018, and late last month reports broke out that the Chinese mining giant is set to fire 50% of its workforce. Later, the company shut down its Israeli branch and fired all of its employees. Meanwhile, Chinese media reported that...

Op-Ed: Defrauded Municipalities Demonstrate Use Case For Smart Contracts


In June, Galveston County (Texas) discovered that it had paid over $525,000 to someone it didn’t owe money to, a scam artist posing as a representative of a firm doing work for the county. The author contends this would be nearly impossible in a system of smart contracts described herein. The scammer used social engineering to talk his way into a small fortune. According to the most recent...

Texas Hits Cryptocurrency Mining Firms with Cease and Desist for Fraud


Texas executed regulatory action recently against two cryptocurrency mining companies. The Securities Commissioner for Texas sent EXY Crypto (also known as Execrypto) and AWS Mining PTY LTD. cease and desist letters based on fraudulent activities. EXY Crypto Texas order number ENF-18-CDO-1771 against EXY Crypto specifically names Morgan Nolan, Rafael Logan, and Melissa Spring as involved in the...

Texas Regulators Shut Down Three Cryptocurrency Scams

Texas cryptocurrency

The Texas State Securities Board has issued an emergency action to halt the deceitful offerings of investments in three cryptocurrency related schemes. The agency entered a cease and desist order against Coins Miner Investment Ltd, DigitalBank Ltd, as well as Ultimate Assets, who is charged for offering Texans misleading ROIs and promising to grow an initial investment of $1,000 into $10,000 in...

Dead Coin Walking: BitConnect Set to Be Delisted from Last Crypto Exchange

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BitConnect’s BCC token is set to be delisted from the last cryptocurrency exchange that still traded it, meaning it’s about to become a dead coin over a lack of liquidity. Surprisingly, the token still has a market cap of over $6.6 million. First spotted by The Next Web, TradeSatoshi, a little-known cryptocurrency exchange with a daily trading volume of about $1.16 million, over 78% of which is...

$500 Million Bitmain Data Center to Bring 400 Jobs to Texas Coal-Mining Town


Bitmain, the world's largest bitcoin miner and mining equipment maker has announced construction plans for a new blockchain data center and cryptocurrency mining facility in the city of Rockdale in Milam County, Texas. CCN earlier reported that the company released plans to construct a data center in Texas as part of an ongoing North American expansion drive. The facility is part of a projected...

Bitmain to Open New Data Center in Texas as North American Expansion Continues

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Bitmain, the world’s largest bitcoin mining firm, is preparing to open a new data center in Texas, external job postings show. The China-based cryptocurrency company, which reportedly recorded $1.1 billion in profit during the first quarter, is currently looking for a project manager and data center site manager to staff a new plant in Rockdale, TX, a small town nestled an hour-and-a-half south...

Texas Regulator Hit Two Bitcoin Investment Schemes with Cease-and-Desists


The Texas State Securities Board has uncovered more suspicious activity from cryptocurrency businesses targeting residents in the state. The agency has most recently issued a pair of emergency orders against two separate entities that according to the regulators were scamming investors, including a bitcoin mining operation and a bitcoin foreign exchange investment fund. Both startups -- Bitcoin...

Pipe Dream: Analysts Mull Natural Gas-Powered Bitcoin Mining Operation


A group of Wall Street analysts has a unique idea to allow shale producers in Texa’s oil-rich Permian Basin to profit from the massive amount of natural gas that is currently being wasted as a result of shale extraction: harness it to power a Bitcoin mining operation. Writing in a recent note to clients, a group of Bernstein analysts led by Jean Ann Salisbury explored this outside-the-box...

Texas Officials Issue Cease and Desist to Another Cryptocurrency Related Scam


The Enforcement Division of the Texas State Securities Board has issued an immediate cease and desist order to LeadInvest, which was a platform that allowed investors to “earn interest on the crypto market.” According to the order, LeadInvest was targeting investors in Texas and was failing to both disclose the background and qualifications of its team members, and the liabilities associated with...

Investors File Class Action Suit against Bitconnect

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The recently shuttered cryptocurrency lending and exchange platform BitConnect has been hit with a class action lawsuit from six investors claiming losses exceeding $770,000. The class action complaint was filed yesterday with the Southern District Court of Florida by cryptocurrency fraud specialist Silver Miller Law, the attorneys representing the plaintiffs. All BitConnect investors who...

Anthem Vault Submits Proposal To State Of Texas For Gold Depository


Anthem Vault, which owns the Bitcoin-accepting online precious metals retailer Amagi Metals, submitted a proposal to the state of Texas regarding the building of a new Bullion Depository that was recently signed into law in the Lonestar State. The plan to build a gold depository has mustered the interest and support of the international precious metals community. The official state bullion...

Bitcoin To Take Center Stage At SXSW Festival March 16 In Austin, Texas


Bitcoin will take center stage at the 22nd SXSW Interactive Festival, March 13 to 17 in Austin, Texas, an annual showcase and brainstorming conference for emerging technology. Bitcoin at SXSW 2015 will present a full day of bitcoin-related content on March 16 as part of Startup Village and as an official SXSW event. Bitcoin at SXSW 2015 will use one of the world's most exciting technology...

Bitcoin Service Harborly Moves to Texas for Favorable Bitcoin Environment


Harborly, a service that lets customers buy and sell bitcoins using their local currency, has decided to base its U.S. headquarters in Texas due to the state's favorable environment for Bitcoin companies. Also read: Texas Congressman Steve Stockman Introduces HR 5777: “To Protect Cryptocurrencies” Texas Has a Favorable Regulatory Environment for Bitcoin Companies Choosing a national headquarters...

Balanced Energy has Been Told by Texas Regulators to Not Take Bitcoin for Exploration Investments


I was reading the news this afternoon and saw this article that caught my eye.  It was notable due to it dealing with Bitcoin, and its use as an investment tool. Balanced Energy, a small oil company, run by Kirk Johnson was recently told by Texas State Regulators they are not to accept Bitcoin payments.  They served them with an Emergency Cease and Desist order. Balanced Energy had announced in a...

American Public Museum Starts Accepting Bitcoin


  This just in from Reddit, an American public museum called the Museum of the Coastal Bend has started accepting Bitcoin for donations, admissions, and at their gift store.  Personally, I am surprised that an American museum is the first place that such an innovation would occur and I hope for many copycats around the world shortly.  If you check the wallet, it seems that they have had four...