Cryptoqueen brother admits OneCoin fraud / Crypto.com launches exchange / Coinbase Card's new coin support

Inside Bitcoin presented by IBM Watson.

Presented by Subscribe | View in browser Market Watch: Industry prices have seen little movement in the past 24 hours. Bitcoin: $8,719 (⬇️ 0.99%) // $157.3 billion market cap. Ethereum: $187 (⬆️ 0.10%) // $20.3 billion market cap. XRP: $0.268 (⬇️ 1.76%) // $11.6 billion market cap. Bitcoin Cash: $279 (⬇️ 3.226%) // $5.06 billion market cap. Top 100 Winner: Noah Coin: $0.001 (⬆️ 324.30%) // $41.8 billion market cap. Top 100 Loser: Aurora: $0.008 (⬇️ 34.85%) // $58.6 billion market cap. Prices are as of 2:45 p.m. ET.       1. Konstantin Ignatov, the brother of "missing cryptoqueen" Dr. Ruja Ignatova, has admitted his role in the OneCoin cryptocurrency fraud. Authorities believe as much as $4 billion was raised worldwide in what has been described as a Ponzi Scheme. Ignatov was initially arrested at the Los Angeles International Airport back in March and has since pleaded guilty to charges, which include money laundering and fraud. Ignatov signed a plea deal in October; however, it was only made available earlier this month. The document states that Ignatov's cooperation with authorities may "reveal activities of individuals who might use violence" against him or his family. Ignatov has yet to be sentenced but could face up to 90 years in prison for fraud. –BBC       2. If Europe is to become a leader in the crypto world it needs to develop a common approach to regulating the industry. That's according to a report from The Association for Financial Markets in Europe (AFME), a financial markets advocacy group. In it, the AFME outlines five points for achieving "supervisory convergence on the regulation of crypto-assets" across the market. Chief among the points is "establishing a pan-European crypto-asset classification scheme," which would help to determine a clear understanding of the various terms associated with crypto-assets in financial services, according to James Kemp, AFME's MD and head of technology. –FINTECH FUTURES       A MESSAGE FROM FASTLY Extend the power of your core cloud to the edge with our API-first platform. Bring your innovative ideas to life, faster. Our edge cloud platform moves data and applications closer to users, at the network edge — so you can deliver fast, secure, and scalable online experiences. Take it for a spin and test up to $50 traffic, free. 3. Throwback Thursday: U.S. Senate hearing on crypto Back in November 2013, the U.S. Senate Homeland Security and Governmental Affairs Committee held a hearing on virtual currencies. At the time, Sen. Tom Carper (D-DE), chair, said: "Virtual currencies, perhaps most notably Bitcoin, have captured the imagination of some, struck fear among others, and confused the heck out of many of us." The hearing followed after a three-month investigation into Bitcoin and other cryptocurrencies. In what was considered a friendly Senate hearing, the price of Bitcoin rose to $700. Notably, though, FinCEN director Jennifer Shasky Calvery also warned crypto companies from fleeing the U.S. in the hope that they would find less lenient regulatory frameworks elsewhere.       4. Coinbase's Visa debit card, the Coinbase Card, has expanded support for five more cryptocurrencies in 10 new areas. Launched in April, the Coinbase Card now supports nine crypto coins in 29 nations in Europe. The latest assets to be supported by the card are XRP, Stellar, Basic Attention Token, 0x, and Augur. It joins the likes of Bitcoin, Ether, Bitcoin Cash, and Litecoin. According to a tweet, the card is now available in Bulgaria, Croatia, Denmark, Hungary, Iceland, Liechtenstein, Norway, Poland, Romania, and Sweden. Since its launch earlier this year, Coinbase Card allows users to make purchases with digital currencies that they hold in their Coinbase accounts. –@COINBASECARD       A MESSAGE FROM IBM WATSON AI & The Future of Work: Virtual Summit, 12/4 at 1:00pm You're cordially invited to join us at the upcoming, AI & The Future of Work Virtual Summit on Wednesday, December 4 at 1:00pm. You'll hear the Executive Director of R&D from The New York Times, IBM Watson clients and executives, as they discuss the role AI is playing in re-envisioning work - from risk and compliance to customer experience to AI workflows. Save your spot today! 5. Iranian authorities are offering a bounty to anyone who alerts them to illegal crypto mining operations in the country. Mostafa Rajabi, a spokesperson for the Energy Ministry, said that people who expose those involved in illegal crypto operations using electricity that they shouldn't be will be rewarded up to 20 percent of the recovery of damages. Rajabi also said that new regulations had been put into place that bans miners from operating during the hours of peak consumption of electricity. –PRESSTV       6. An anonymous organisation known as the Unknown Fund has said that it's planning on donating $75 million in Bitcoin to crypto-focused startups, which directly or indirectly support the idea of anonymity. In a press release announced yesterday, the Unknown Fund stated that the organizers are "ordinary, anonymous people from different countries" who are "united by a virtual comradely spirit." The money will be given to those focusing on protection of personal data, tools for anonymity, cryptocurrency, and blockchain. –UNKNOWN FUND       7. Sunny Lu, founder of blockchain application platform VeChain, has said that 99 percent of a token's value is linked to speculation and "not to the value that solution can bring to society." In his opinion, this causes a startup to waste their time "producing and selling the token," which in turn sees them failing to develop the solutions they were attempting to create. –COINTELEGRAPH       8. If the U.S. goes into recession following a global economic slowdown and uncertainty regarding the U.S.-China trade standoff, it could spur a crypto bull run. That's according to this opinion piece written for the Financial Times. Written by crypto writer Adam Reese, he states that crypto markets are still relatively small compared to equity markets, meaning that they respond to smaller trading events. Yet, while it may be an opportunity for people to put money into crypto assets, if someone's strategy is to learn as they go, Reese advises that a bull run is the "most dangerous time to start buying cryptocurrencies." –FINANCIAL TIMES       9. Walmart Canada and data management platform DLT Labs Inc. have announced the launch of a blockchain solution for industrial applications such as freight and payments. The system will use the technology to track deliveries, verify transactions, and automate payments along Walmart Canada's supply chain. It's hoped that it will ease the transparency of 500,000 loads of inventory that is moved nationally. –SILICON ANGLE       10. Hong Kong-based crypto debit card issuer Crypto.com has announced that it has launched a cryptocurrency exchange in a bid to boost the adoption of crypto to its one million users. The Crypto.com Exchange will support nine tokens, including BTC, ETH, XRP, EOS, and Crypto.com's own token CRO. According to CEO Kris Marszalek, the next step is to build an environment so that their users are willing to stay. Some of the features on the platform are competitive trading fees, institutional-grade custody and security, and, what the platform calls an easy-to-use interface. The trading fees will be at 0.008 percent for the maker and 0.02 percent for the taker, with free trades for high-volume accounts. –THE BLOCK       This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three. Connect with her on Twitter. Edited by Inside Dev and Inside Deals Editor Sheena Vasani.​​​​​​​       Ad You're invited to the AI & The Future of Work Virtual Summit on 12/4. Save your spot today!

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