• The man, the legend... Charles Ponzi (via Smithsonian/public domain).
    Bitcoin

    Three charged in BitClub Network’s alleged $722 million bitcoin Ponzi scheme

    Three men are accused of using the BitClub Network cryptocurrency mining pool to defraud investors, referring to them as ‘sheep’ and ‘idiots’

    A Ponzi scheme that stole $722 million from investors in a fraudulent cryptocurrency mining pool has been broken up by FBI and IRS agents, according a federal indictment. BitClub Network promised investors around the world shares in the earnings of a major non-existent bitcoin mining pool.

  • "We know the game and we're gonna play it..." --Rick Astley (via YouTube)
    Bitcoin,  People

    Lawyers suing Craig Wright: Modern Consensus reporter Rick Rolled us

    ‘Ahahhahhahahhahahaha! TODAY THEY FILED AGAINST ME IN COURT FOR RICK ROLLING,’ said a chastened Brendan Sullivan.

    The lawyers suing Craig Wright for $3.6 billion just complained to a judge that a Modern Consensus reporter Rick Rolled them on Twitter. Attorney’s representing brother of Wright’s late partner Dave Kleiman have been trying to subpoena a recording of Modern Consensus journalist Brendan Sullivan’s exclusive phone interview with Wright.

  • LedgerX may have placed its founders "on administrative leave," but they're still listed as the company's leaders on its website (via LedgerX).
    People,  Regulation

    LedgerX founders Paul and Juthica Chou ousted after futures debacle

    Badly embarrassed by a bungled futures launch, the derivatives exchange removed its CEO and COO the same day rival Bakkt expanded its offerings

    On Dec. 9, LedgerX derivatives exchange CEO Paul Chou and his wife Juthica, the COO, were unceremoniously removed by the board of the company they founded. While no explanation was given, the company suffered a huge and embarrassing setback over the summer.

  • Coming not-so-soon?
    Cryptocurrencies

    China pilots state-issued digital currency

    Despite that, a real central bank digital currency could be a long way off, a Chinese publication reported; Huawei deeply involved

    China announced plans to launch real-world test of a central bank digital currency on Dec. 9. But an actual central bank digital currency is probably not coming very soon, the article said.