NASDAQ CEO Says that Bitcoin is at its Hype’s Peak

President and CEO of NASDAQ Inc., Adena Friedman, recently stated that digital currencies have reached the peak of their hype cycle and can turn out to be a commercial segment of the internet.

Freidman said that NASDAQ has a grey outlook about digital currencies and the company is taking a research-oriented and cautious approach towards its involvement in virtual coins. She said that the company has started to understand the ins and outs of the new technology and hopes that it might become a financial part of the internet.

The CEO added that virtual currencies could be considered as a speculative asset class which lacks a foundation or goals in the world of international commerce. In her view, as soon as the digital asset becomes more mature, it will assist in the smooth functioning of commercial activities. Although she does not know which digital currency would lead the charge yet, she believes that time will create its utility.

As of now, crypto space is enjoying a peak in its hype cycle due to a large number of players in the market. NASDAQ stands out of the crowd as it can provide market information and surveillance technologies to few crypto exchanges. She added that blockchain does not possess the scalability required to handle her company’s super huge trading volume. But, it does have the potential to manage some of the markets.

She said, “There are massive inefficiencies where there is paper instead of automation, where there’s really poor record keeping, and everything’s in a drawer somewhere, like private securities. So we have to deploy blockchain into the private market, where you can find really long settlement cycles, and how [blockchain] can shorten those.”

The CEO does see some substantial opportunities for blockchain to grow. According to her, it is a fascinating technology which can turn out to be troublesome in the long run. It is also difficult to employ as it needs support from a massive network to implement it at the same time. Freidman further said that over time it could become possible and blockchain can be of great help to boost the business.

Earlier in April, she claimed that the stock market was capable of trading digital coins in the future under more regulations from the authority. NASDAQ can possibly become a crypto exchange if things go as planned.

It should be noted that virtual currencies are still having a tough time in America as owners do not want to consider their tokens as securities. The SEC has also launched many probes in cases of ICO as most of them have duped investors in the past. Meanwhile few crypto experts have speculated bitcoin to surpass the $20,000 mark by the end of the year.

Most of the big players in the market are not making irrational decisions about getting into the world of cryptocurrencies. Blockchain, on the other hand, is enjoying compliments from around the globe. It won’t be a shock id someday NASDAQ becomes a fully functional crypto exchange.…

Three of Cryptocurrency Heist Pleads Not Guilty

Three of Cryptocurrency Heist Pleads Not Guilty

Three cyber criminals who were involved in an elaborate heist of $1.8 million digital currency pleaded that they are not guilty of charges slapped on them. This included an education department staffer and a church worker. The trio is facing charges of kidnapping, grand larceny, and other charges and faces a maximum of 25 years in jail if the court founds them to be guilty. In the current year alone, more than $1 billion worth of digital currencies were stolen.

Scheme Organized

According to New York Post, Louis Meza, aged 35, has allegedly organized a scheme on November 4 last year. He was arrested later in May for the theft. He was accused of establishing a meeting with an unidentified victim then. The prosecutors said that he pretended to order an Uber to take him home whereas Allan Nunez, who was also in the similar age group, posed as a driver of the cab.

The third person, Darrell Colon, has hidden on the minivan’s back. As soon as the victim entered the cab, Colon has pulled a gun and demanded a memory stick connected with his Ether currency account and the keys. Colon told investigators that “I stuck the gun in the guy’s ribs and took his stuff.” The accused has confirmed that the weapon was a BB gun.

The trio has frightened the victim and held him as a captive for two hours inside the van with a hood on his head before the victim has started to escape. This was disclosed before the Manhattan Supreme Court by an Assistant District Attorney, James Vinocur. The prosecutor also pointed out that the victim was on the run until he reached a grocery store and called 911 for help. He was a terrified lot and ran two blocks.

Meza felt that he could recruit his friend, Cesar Guzman, who was working as a DOE professional so that they could plan the heist. On the other hand, Guzman, at the age of 38, has enlisted a church worker, Nunez, apart from Colon from his motorcycle club. Even as the victim was trapped inside the van, Guzman and Meza have broken into the victim’s house.

Incidentally, Meza was accused of stealing data with the purpose of moving the funds to his personal account. However, authorities indicated that they were able to recover most of the stolen digital currency.

Seeks Bail

Guzman Lawyer, Michael Barsky, has argued for a reasonable bail for his client citing that he is managing a neighborhood charity apart from taking care of his autistic nephew. Similarly, Nunez lawyer, Rob Georges, has sought a bail pointing out the case involving movie magnate Harvey Weinstein for the alleged sex assault.

Georges also pointed out that the disgraced producer was given a bail package terming it as a pre-arranged one. However, the Justice, Melissa Jackson, did not want to compare the two cases. Instead, the Judge ordered bail for Nunez on $50,000 and Colon on $75,000 while Guzman faced $100,000. The three cyber criminals could face a maximum of 25 years in jail if the court finds them of committing the frauds.…