Bitcoin price news LIVE – Ethereum & BTC rise as Twitter boss Jack Dorsey gets behind crypto plus Dogecoin & Cardano

"PEOPLE SHOULD MAKE THE DECISION, NOT THE GOVERNMENT"

BITTER EX-BOYFRIEND USED $13,000 OF BITCOIN TO TRY AND HIRE HITMAN

A California man allegedly blew $13,000 in cryptocurrency to hire a hitman to kill his ex-girlfriend after she dumped him.

Scott Quinn Berkett, 24, of Beverley Hills was arrested on May 21 and is facing a murder-for-hire charge, after wiring bitcoin to the 'contract killer' - who turned out to be an undercover FBI agent.

She tried to end their short romance after the trip, but Berkett continued to contact the young woman.

The bitter Burkett then reportedly began to search for murder-for-hire services on the dark web - which turned out to be an FBI sting.

"I’d like it to look like an accident, but robbery gone wrong may work better. So long as she is dead," he allegedly wrote to the group. "I’d also like for her phone to be retrieved and destroyed irreparably in the process."

He supposedly sent over bitcoin payments amounting to $13,000 of the untraceable cryptocurrency over a one-month period.

CRYPTO MARKET INCREASES BY OVER 6%

In the wake of major cryptocurrencies all experiencing substantial gains in the last 24 hours, the crypto market has followed suit.

It is up by 6.6% and is now worth $1.8 trillion, according to CoinMarketCap.

According to the site, this had prompted lots of trading too.

AUTHOR BLEW £500,000 OF BITCOIN ON DARK WEB

An author was horrified to find out she spent nearly £500,000 worth of Bitcoin buying drugs on the dark web.

Bitcoin continues to fluctuate in price as the volatile cryptocurrency last week plunged to just 50% of its record high – hitting lows of just £21,000.

Ms Tolentino, 32, a staff writer for New Yorker and a published author, revealed her own Bitcoin horror story when appearing on the  tech podcast in 2018.

She contacted the show as she remembered buying around £50 ($80) worth of Bitcoin in 2012 while exploring the Dark Web – but wasn’t sure what had happened to her stash after changing laptops

Today – the 17.5 coins she purchased at the time are now worth £456,253.

Thinking she could be sitting on a small fortune, the Super Tech Support team on the show put their heads together to try and track down her missing riches, which was worth around £200,000 at the time.

However, what they found was she had spent nearly all of her Bitcoin buying drugs on Dark Web marketplace Silk Road.

She had hoped to find she had some of the money left as she recalled buying the Bitcoin to purchase weed and MDMA – but she did not know what happened to the leftovers.

It turns out all she had left was  0.00209 bitcoin, which is worth around £75.

ALL MAJOR CRYPTO PRICES INCREASE

Major cryptocurrencies have seen all seen increases in the last 24 hours.

The likes of Bitcoin, Ethereum, Tether, and XRP have all gone green on CoinMarketCap’s price index.

They are all trading higher than this time last week.

A TURBULENT 12 MONTHS

CRYPTO EXCHANGE KRAKEN LAUNCHES NEW MOBILE APP

The US-based cryptocurrency exchange Kraken has announced the official launch of its mobile app for Android and iOS devices.

Through the app, the company said that, its users could buy and sell cryptos and arrange payments through different methods.

Kraken’s app is targeted at both novice and experienced cryptocurrency traders.

CHINA TO GIVE $6.2M AWAY IN DIGITAL CURRENCY LOTTERY

Beijing is giving away $6.2 million in a lottery for residents that will be distributed via China's upcoming central bank digital currency (CDBC).

The Beijing Local Financial Supervision and Administration Bureau will send out 200,000 digital "red envelopes" this month, Reuters reports, which will contain 200 digital yuan.

Residents in Beijing then have until midnight on June 7 to register for the lottery, before the winners are announced a few days later.

Wins can be claimed via two banking apps and prizes can be spent at selected merchants.

BITCOIN MINING MANUFACTURER SLAMS CHINA’S CRACKDOWN

A leading manufacturer of bitcoin mining machines has slammed China’s crypto mining crackdown.

Zhang Nangeng, CEO of Nasdaq-listed Canaan Inc (CAN.O), said the sector makes better use of electricity, brings employment, and is prosperous for the local economy.

“For-profit miners prefer regions with low electricity prices that indicate oversupply, and likely energy waste,” Zhang said.

He explained that “bitcoin miners also help create jobs in impoverished regions and contribute to fiscal coffers.”

It comes after restrictions announced last month by China’s State Council on bitcoin mining and trading.

STATUE OF BITCOIN CREATOR COMING TO BUDAPEST

A statue of Bitcoin creator Satoshi Nakamoto is being created in Budapest, Hungary.

Creators Tamas Gilly and Reka Gergely recently revealed their design plans for the bronze bust.

Initial sketches show a hooded figure – a nod to the unknown “people of the internet” and Bitcoin’s elusive creator.

The Bitcoin creator’s real-world identity doesn’t matter, András Györfi, the project’s initiator has stated.

WHAT IS SATOSHI NAKATMOTO'S NET WORTH?

If Nakamoto - which many experts believe is a pseudonym - does exist, he could be the world’s richest person considering how much the value of Bitcoin has skyrocketed.

The current Satoshi Nakamoto net worth in 2021 is potentially $40billion, according to .

This estimate is based on the early bitcoin wallets that are believed to belong to him that still hold 980,000 bitcoins valued at approximately $41,000 per bitcoin.

Even though this is only an estimate and the exact net worth is not known for sure, it is believed to be growing even more after Tesla invested $1.5billion in the cryptocurrency.

WHAT IS BITCOIN CURRENTLY SITTING AT?

Bitcoin is currently worth $38,754.30.

It has risen by 3.92% in the last 24 hours.

It comes after a substantial drop in price last month, but bitcoin seems to be climbing back up.

“WE’RE ALL GOING TO DIE” IF BITCOIN TAKES OVER, ECONOMIST SAYS

A Chinese economist has warned “we’re all going to die” if bitcoin becomes widely adopted as a currency.

Assistant director at the International Monetary Institute of Renmin University, Qu Qiang, said society will experience “a death spiral of deflation,” forcing it to “shrink and self-explode,”  reported.

When asked the “worst scenario” of bitcoin taking over, he said: “I can tell you exactly what’s going to happen … We’re all going to die. This is not a joke.”

WHAT ARE THE RISKS OF CRYPTO INVESTMENTS?

The Financial Conduct Authority (FCA) which creates the rules for the banking industry has warned people about the risks of investing in cryptocurrencies.

• Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements. 
• Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
• Product complexity: The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks. There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market. 
• Charges and fees: Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.  
• Marketing materials: Firms may overstate the returns of products or understate the risks involved.

WHAT IS BITCOIN?

Bitcoin is a digital currency that is not guaranteed by a bank or government.

Investors can "mine" them by devoting computing power to authenticating other bitcoin transactions, or they can be bought and sold on exchanges using real money.

The virtual currency was created in 2009 by an unknown computer whizz using the alias Satoshi Nakamoto.

Unlike physical currencies such as pounds, dollars or euros, which come in physical notes and coins, Bitcoin isn't printed or minted.

Instead, Bitcoin tokens are a digital-only form of payment and are created by a computer code.

If you have invested in Bitcoin, you can set up a virtual wallet to store, keep track and spend your digital money.

You are also able to purchase Bitcoin through an online exchange or Bitcoin ATM -  but not all businesses accept Bitcoin as a form of payment.

CRYPTO PLATFORM ELECTRA PROTOCOL JOINS IOS

CRYPTO COMPANIES NOT MEETING UK REQUIREMENTS

A number of cryptocurrency currency companies are not meeting the UK's anti-money laundering and financing rules.

It has saw many withdraw applications to register with the Financial Conduct Authority (FCA), who extended the date of its temporary registration scheme until March 2022.

This will allow crypto firms to continue their usual activity while the FCA carry out further checks, it said in a statement.

The move is to ensure the scams including the likes of money laundering and counter-terrorist financing can't operate via crypto companies.

"The FCA will only register firms where it is confident that processes are in place to identify and prevent this activity," it said.

CONTINUED: WHO IS SATOSHI NAKAMOTO?

Forbes journalist Andy Greenberg attempted to interview Finney at his home - despite him battling terminal disease Amyotrophic Lateral Sclerosis (ALS), which rendered the crypto-community enthusiast "locked" into his body and unable to speak or move his muscles.

Greenberg believes Finney, who appeared amused when the journalist asked if he knew Nakamoto, was either the ghostwriter for the Bitcoin creator or simply used his neighbour's name as a moniker.

But that's not all. Finney also knew “decentralised currency enthusiast” and scientist Nick Szabo who penned a paper on "bit gold" way back in 1998 and was said to be a fan of pseudonyms.

Szabo also confirmed in 2011 that only he, Finney or Wei Dai - creator of Bitcoin precursor B-Money - could have been responsible for the digital currency.

In 2013, financial author Dominic Frisby suggested that Szabo penned the 2008 white paper and even appeared on television discussing his claims.

But Szabo emailed Frisby, writing: “Thanks for letting me know. I'm afraid you got it wrong doxing me as Satoshi, but I'm used to it.”

WHO IS SATOSHI NAKAMOTO?

The mystery will take us from the Land of the Rising Sun all the way across the world to a small Californian town named Temple City and then back across the Pacific Ocean to an Australian doctor.

The now iconic white paper, which was published on networking P2P Foundation, said the elusive Nakamoto lived in Japan and was born in 1975.

But when the world’s media thought they had found their Satoshi Nakamoto in 2014 – he was a computer engineer living in Temple City in Los Angeles County.

And while the Japanese-American man, named Dorian Satoshi Nakamoto, firmly denied he was the shadowy force behind the infamous cryptocurrency – the plot continued to thicken.

It soon emerged that computer scientist Hal Finney, who was the recipient of the first Bitcoin transaction, lived a “few blocks” from the seemingly-oblivious Nakamoto.

AUTHOR BLEW £500,000 OF BITCOIN ON DARK WEB

An author was horrified to find out she spent nearly £500,000 worth of Bitcoin buying drugs on the dark web.

Bitcoin continues to fluctuate in price as the volatile cryptocurrency last week plunged to just 50% of its record high - hitting lows of just £21,000.

Ms Tolentino, 32, a staff writer for New Yorker and a published author, revealed her own Bitcoin horror story when appearing on the  tech podcast in 2018.

She contacted the show as she remembered buying around £50 ($80) worth of Bitcoin in 2012 while exploring the Dark Web - but wasn't sure what had happened to her stash after changing laptops

Today - the 17.5 coins she purchased at the time are now worth £456,253.

Thinking she could be sitting on a small fortune, the Super Tech Support team on the show put their heads together to try and track down her missing riches, which was worth around £200,000 at the time.

However, what they found was she had spent nearly all of her Bitcoin buying drugs on Dark Web marketplace Silk Road.

She had hoped to find she had some of the money left as she recalled buying the Bitcoin to purchase weed and MDMA - but she did not know what happened to the leftovers.

It turns out all she had left was  0.00209 bitcoin, which is worth around £75.

INDIA'S CRYPTO INDUSTRY CREATE RULE BOOK

India's leading cryptocurrency players have joined forces to create a rule book and establish itself as a serious business in the finance world.

The likes of WazirX, CoinDCX, and CoinSwitch Kuber have teamed up with the Internet and Mobile Association of India to set up an advisory board, according to The Economic Times.

It will be set up under the Blockchain and Crypto Assets Council (BACC), part of IAMAI, and will act as a self-regulatory organisation for the sector.

GOOGLE UPDATES CRYPTO AD RULES

Google have updated their crypto ad policy.

The internet giant explained: "Beginning August 3, advertisers offering cryptocurrency exchanges and wallets targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google.

The move is "to clarify the scope and requirements to allow the advertisement of cryptocurrency related business and services."

"All prior cryptocurrency exchange certifications will be revoked on August 3, 2021. Advertisers must request new cryptocurrency exchanges and wallets certification with Google when the application form is published on July 8, 2021," it continued.

HOW MUCH IS DUBAICOIN WORTH?

Dubaicoin is currently worth $1.13 or £0.79.

It shot up by over 1,000% amid rumours it was Dubai's official cryptocurrency.

Officials denied it has any affiliation, while the creator ArabianChain Technology, said it is "the first public, decentralised and consensus-driven blockchain in the MENA (Middle Eastern and North African) region".

WHAT IS DUBAICOIN?

Although its name suggests so, Dubaicoin has no connection to Dubai.

The cryptocurrency was created by Arabianchain Technology, claiming to be the first of its kind in the Arabic world.

It shot up by over 1,000% in price in 24 hours after a press release said it was named as the official currency of Dubai - before the government squashed these rumours.

"Dubai does not have an official cryptocurrency," the city's Media Office tweeted on Friday.

It also said Dubaicoin was a "scam" and "an elaborate phishing campaign that is designed to steal personal information from its visitors".

COINBASE JOIN APPLE AND GOOGLE PAY

Coinbase have announced its card has been integrated with Apple and Google Pay.

"You can now use your Coinbase Card with Apple Pay and Google Pay to make it even easier to spend crypto at home and on the go," the crypto platform's blog post read.

Users can also purchase everyday goods with digital currencies when the Coinbase Card is added to your phone's wallet.

All crypto purchases will be converted to US dollars.