A computer expert who stole Bitcoin now worth billions of dollars has been sentenced to five years in prison. Ilya Lichtenstein masterminded one of the largest-ever thefts from a virtual currency exchange before he and his wife, Heather Rhiannon Morgan, carried out an elaborate scheme to liquidate the stolen funds, according to federal prosecutors. “He became one of the greatest money launderers that the government has encountered in the cryptocurrency space,” prosecutors wrote. In August 2016, Lichtenstein hacked into a virtual currency exchange, Hong Kong-based Bitfinex, and stole approximately 120,000 bitcoins, reports the Associated Press.
Author: Natalia Smirnova
President Donald Trump boasted that the U.S. is experiencing a “manufacturing boom” following the release of the first full jobs report of his second term. The Labor Department on Friday reported that employers added 151,000 jobs in February, below the estimate of 160,000 jobs made by LSEG economists. However, manufacturing added 10,000 jobs in February, above LSEG economists’ estimate of a 5,000 gain. “During the last year the Biden administration saw a loss of more than 110,000 manufacturing jobs or 9,000 manufacturing jobs every single month. During the first full month in office, we’ve not only stopped that manufacturing collapse,…
Bitcoin was edging lower on Friday as investors worried that the sense of gloom surrounding the stock market could soon start dragging down crypto prices. The large-cap token slid 0.7% to $96,525 in early trading, snapping a run of gains since New Year’s Eve. It’s trading about 12% off the record high of just over $108,000 it hit last month.
Mortgage rates fell for a seventh consecutive week to the lowest level since December, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage decreased to 6.63% from last week’s reading of 6.76%. The average rate on a 30-year loan was 6.88% a year ago. The 30-year loan saw the largest weekly decline since mid-September, said Sam Khater, Freddie Mac’s chief economist. MORTGAGE RATES FALL TO LOWEST LEVEL IN OVER 2 MONTHS “The decline in rates increases prospective homebuyers’ purchasing power and should provide…
Crypto hedge funds made big bucks last year on the back of a $1.7tn market rally. Tephra Digital, Pythagoras Investments, Eltican Asset Management and Fasanara Digital cashed in on soaring crypto prices last year. US-based Tephra Digital, which is backed by Jefferies’ Leucadia Asset Management, gained 100.2% in 2024, according to people familiar with the matter. The crypto hedge fund has $125m in assets under management. Another US-based crypto hedge fund, Pythagoras Investments’ Absolute Return fund, gained 41.8% last year. The firm’s assets under management stand at $233m, people familiar with the matter said. London-based Eltican Asset Management’s market neutral…
Traditional and cryptocurrency investors eagerly await Friday’s Personal Consumption Expenditures (PCE) release in the US, which may provide some relief to inflation-related concerns and increase investor appetite for risk assets, including Bitcoin. The US Bureau of Economic Analysis (BEA) will release on March 28 the next PCE report, which measures the inflation of prices US consumers are paying for goods and services. The PCE inflation print may become the “next key catalyst” for Bitcoin BTC$87,430 and other risk assets, according to QCP Group, a Singapore-based digital asset firm.
Red Robin is the latest in a growing number of fast-food eateries planning to shutter underperforming locations following a spate of financial difficulties. The chain on Wednesday announced it is weighing plans to potentially close 70 locations once their lease expires, as it attempts to turn around its operations. The company has already closed one location in the fourth quarter of fiscal 2024, and recorded a loss of $32.4 million in the quarter in large part from the “review of underperforming restaurants.” The company plans to sell three properties during the first quarter of fiscal 2025. The sale of those…
Domino’s Pizza has officially rolled out stuffed crust in the U.S. The company on Monday announced that customers can now order cheese-filled crust at all locations in the U.S., joining the ranks of pizza chains that already offer it. “One of the most common questions we’re asked is, ‘When will you launch stuffed crust?’ We’re excited to announce that our first-ever stuffed crust is finally here and we promise, it is worth the wait. We think the best stuffed crust was saved for last,” Domino’s Chief Marketing Officer Kate Trumbull said in a statement. Domino’s new Parmesan Stuffed Crust consists…
A non-league football club has finalised an investment deal with two major cryptocurrency investors. Real Bedford FC, currently in the eighth tier of English football, has received £3.5m from Gemini founders Cameron and Tyler Winklevoss. The team is in discussions to merge with Bedford Town, which is in the seventh tier. Bitcoin podcaster Peter McCormack bought Real Bedford – then in the 10th tier and called Bedford FC – in January 2022 as part of his plan to grow the town’s football ambitions It was said the investment would be used for the development of a training centre, the launch of…
An officer from the National Crime Agency (NCA) has been charged over the alleged theft of £60,000 worth of the cryptocurrency Bitcoin. Paul Chowles, 42, from Bristol, is charged with 15 offences relating to the alleged theft of 50 Bitcoin during an investigation into online organised crime in 2017, Merseyside Police said. The force said the Bitcoin would have been worth almost £60,000 at the time of the alleged offences. He faces 11 counts of concealing, disguising or converting criminal property, three counts of acquiring, using or possessing criminal property, and one count of theft. Bitcoin is the biggest and…