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California Resident Files $224 Million Suit Against AT&T Over Crypto Losses

California resident Michael Terpin has filed a lawsuit against telecommunications firm AT&T, alleging that the company’s negligence caused him to suffer cryptocurrency losses totaling about $24 million. He filed the complaint in a Los Angeles District Court on Wednesday, according to a report from CNBC that noted the full scope of damages sought by the plaintiff:

Coinbase CEO: Crypto Mass Adoption May Take ‘Quite Some Time’

In a recent interview with Bloomberg at the Players Technology Summit in San Francisco, Coinbase CEO Brian Armstrong said that Bitcoin adoption and use is growing every year. However, he suggested that real mass adoption of Bitcoin as a payment solution is going to take time. Armstrong compared the industry’s growth with that of the internet nearly two decades ago:

SEC Warning: Self-Directed IRAS with Crypto Investments Pose Unique Risks

The U.S. Securities and Exchange Commission’s Office of investor Education and Advocacy recently published a new Investor Alert focused on risks associated with unregulated self-directed Individual Retirement Accounts. The alert advised investors to be cautious when dealing with this type of IRA, citing “unique risks” that include potential investment in digital assets like cryptocurrency:

Saudi Standing Committee Says Crypto Trading Illegal in Kingdom

In an August 12 announcement, Saudi Arabia’s Standing Committee for Awareness on Dealing in Unauthorized Securities Activities in the Foreign Exchange Market declared digital currency trading to be illegal “inside the Kingdom of Saudi Arabia.” The committee statement cited issues with security, regulatory concerns, and market risks as reasons for its warning:

Economist to Governments and Central Banks: Leave Crypto Alone

In an op-ed published this week, noted economist and American Institute for Economic Research Editorial Director Jeffrey A. Tucker suggested that governments and central banks should maintain a hands-off approach to cryptocurrency and other innovations.

Singapore VC Firm Announces Launch of LuneX Ventures Crypto Fund

Golden Gate Ventures has announced that it plans to launch a $10 million cryptocurrency and blockchain startup investment fund, according to TechCrunch and other media outlets. The Singapore company’s new fund will be called LuneX Ventures and will focus investments on “early-stage” cryptocurrency exchanges, security firms, and similar digital currency and blockchain-related projects.

Harris Insights Survey Offers Snapshot of Americans’ Crypto Sentiments

Polls are often maligned by those who dislike their results, but few can argue with their important role in providing a snapshot into people’s current attitudes, priorities, and opinions. A recent survey conducted by Gem and Harris Insights polled more than 2,000 American adults to gauge their interest in digital currencies like Bitcoin.

Op-Ed: As Canada’s Government Falters, Will Cryptocurrency Gain Ground?

Canada’s government is failing the people. According to the Canadian Government is in debt to taxpayers to the tune of 657 billion dollars. This begs the question: how can they still pay the people after they have already liquidated the rest of their gold reserves? They seem single-mindedly intent on seeing how long they can run deficits before taxpayers notice. Canada’s treasuries are empty, yet the government continues to pay workers in the unbacked currency. Unbeknownst to most taxpayers, they are willingly handing over their labor and selling their products for a currency that is essentially worthless.

How long this charade can go on is anyone’s guess, but the clock is ticking; it’s time for cryptocurrencies to start making headway in Canada and for the people of Canada to get prepared for what’s about to come. Irrespective of party in power or leader, if the Canadian Government pushes their luck much further they will find themselves on the receiving end of a mass uprising, as even the docile, meek, and timid, become fearlessly enraged.

Pantera Capital’s Morehead Says Bitcoin Investors Have Overreacted to ETF News

During an appearance on CNBC’s Fast Money on Wednesday, Pantera Capital CEO Dan Morehead suggested that Bitcoin investors have been too focused on attempts to gain approval for a Bitcoin ETF. Morehead said that those investors have been overreacting to news that the SEC has postponed a decision on the proposed VanEck and SolidX ETF. He also predicted that it may be a “long time until an ETF is approved.”

Maerki Baumann Private Bank Offering Services to Crypto Customers

Swiss private bank Maerki Baumann is now offering banking services to blockchain and digital currency companies, according to International Investment. The decision comes as a number of cryptocurrency firms have moved to jurisdictions outside Switzerland, sparking concern from Swiss regulators.

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