Bitcoin

Bitcoin Daily: Gun Sellers Turn To Crypto, Bitcoin Makes Divorces Even Messier

Bitcoin

It was a good day for bitcoin, CNBC reported. In late morning trading on Monday (Feb. 26), the cryptocurrency jumped to nearly $10,300. While there didn’t seem to be an apparent reason for the gains, the currency climbed close to $1,000 over 24 hours on Coinbase. As of 6:52 p.m., bitcoin was at $10,283.31, according to Coindesk.

And cryptocurrency is creating a new challenge for U.K. lawyers handling divorce cases, Fortune reported. As digital currencies – such as bitcoin – become more popular, a growing number of lawyers are encountering the currency in separations. And while both parties in a divorce are supposed to disclose all of their assets, tracking cryptocurrencies can be difficult if one or both parties transfers their digital wallet onto a USB drive, for example.

In Korea, a startup is seeking to offer a gold-back cryptocurrency, the company said in an announcement. GoldMining plans to exchange mined cryptocurrency for gold at the Korea Exchange Gold Market. It will then store the gold at Korea Securities Depository (KSD) and issue a gold-backed digital currency in return. The company plans to hold five rounds of token sales, with the goal of raising about $50 million.

And cryptocurrency crime has hit home for Apple co-founder Steve Wozniak, who said that he has been the victim of bitcoin theft, The Economic Times reported. “Somebody bought them from me online through a credit card and they cancelled the credit card payment,” Wozniak said at an event. “It was that easy! And it was from a stolen credit card number, so you can never get it back.”

If banks continue to cut ties with gun sellers, gun buyers may turn to crypto, American Banker reported. In fact, some firearm sellers in the U.S. are already accepting digital currencies. Already, almost half of one gun seller’s revenue comes from cryptocurrencies, its owner told Coindesk.

And, in a win for crypto traders in Israel, The Israeli Supreme Court issued a decision mandating that banks allow crypto trading and forbidding them from limiting bank accounts of companies in the crypto space. The court issued a temporary order that requires Israel’s Leumi Bank to not limit the bank account of Bits of Gold, which acts a crypto broker, Finance Magnates reported.

The tales of 50 Cent’s bitcoins might have been, well, exaggerated, TechCrunch reported. Previously, it was reported that Fifty had forgotten about approximately $7 million worth of bitcoin, but he said in a declaration: “All online transactions involving my brand were handled by an independently owned and operated third party, Central Nervous LLC … the limited bitcoin transactions that occurred online were processed and converted to U.S. dollars contemporaneously, based upon the then-existing exchange rate.”

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