Major U.S. retailers are now accepting Bitcoin and other cryptocurrency

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Those taking the digital money include clothing store Nordstrom, grocer Whole Foods, and movie chain Regal Cinemas. The move is thanks to a new deal between payment network Flexa and digital asset platform Gemini.  Read more…

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Cryptocurrency scammer’s victim gets record $75.8 million judgment

In January 2018, tech entrepreneur Michael Terpin got scammed out of $ 23.8 million in cryptocurrency. On Mon., May 13, it was announced that the 62-year-old Nevada resident is getting payback: Los Angeles Superior Court awarded Terpin a record-setting cyber-crime default judgment of $ 75.8 million. As reported in The Post, Terpin was targeted by a Gen-Z hacker…
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Luxury App The List Partners BitBay Pay To Accept Cryptocurrency Payments

Dubai-based luxury fashion mobile platform THE LIST is partnering crypto payment processor BitBay Pay to facilitate payment using cryptocurrencies such as Bitcoin. This will also help customers to conveniently shop without having to enter any card information for online payments. Customers of THE LIST App can shop for luxury products and pay directly with Bitcoins only initially.
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Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!

South Korea Central Bank Warns Against State-backed Cryptocurrency

South Korea’s central bank has warned that adopting a state-backed cryptocurrency will undermine the country’s financial system, leading to liquidity shortage and high interest rates. According to a report published by the Bank of Korea (BOK), the introduction of a central bank digital currency (CBDC) will replace demand deposits held by local commercial banks as investors will go after the BOK-b
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T.I. Hit With $5M Lawsuit For Defrauding Cryptocurrency Investors

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T.I. and his business partner are being sued for securities fraud after a group of investors claim they poured over $ 1.3 million in a cryptocurrency the duo launched — and all they got was flat broke in return.

According to court documents obtained by The Blast, the 25 investors claim the rapper and a guy named Ryan Felton used “social media, celebrity endorsements, and well-known industry experts to create the false impression that FLiK Tokens were a valuable liquid investment.”

The plaintiffs allege they invested over a million “for now worthless securities called FLiK Tokens.”

Here’s how The Blast breaks it down:

In the lawsuit, the investors claim Felton and T.I. drove up the price of the tokens using the money they got from investors and then “dumped” their tokens and disappeared. They claim once they realized what went down, Felton created a new company that he said acquired FLiK “and speciously told investors that he had nothing to do with the new sham company.”

As part of their efforts to drive up the price, the investors claim T.I. and Felton made it seem like Kevin Hart was going to be the face of FLiK and even “owner of the business.”

Felton even got Dallas Mavericks owner Mark Cuban to invest and “created fake online posts on behalf of Mark Cuban in order to manipulate the value of FLiK Tokens.”

Then in late 2017, a massive “dump” of FLiK tokens caused a significant drop in their value, the report states.

“Felton explained that the devaluation was caused, at least in part, because T.I. had given FLiK tokens to members of his family and friends who had sold massive amounts on coinexchange.com causing rapid devaluation,” the plaintiffs state.

The investors are suing T.I. and Felton — seeking no less than $ 5,000,000 in damages.

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