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Latest Cryptocurrency News for October 12, 2018: Gary Cohn goes crypto, Nouriel Roubini goes nuclear, and miners go off the rails

These are the crypto stories you should be following today

Latest Cryptocurrency News: Gary Cohn goes crypto, Nouriel Roubini goes nuclear, and miners go off the rails


How The Mighty Have Fallen: Gary Cohn Joins Blockchain Startup 7 Months After Leaving White House (ZeroHedge)

Gary Cohn was chief operating officer of Goldman Sachs before quitting to become President Trump’s chief economic advisor. He quit that job because he didn’t like Trump’s trade policies. Now he’s advising something called Spring Labs, which hopes to put Equifax, Experian and TransUnion out of business using blockchain technology.

Dr. Nouriel Roubini vs. Bitcoin: Senate Hearing Breaks Down His Arguments (CCN)

Dr. Doom himself appeared before the Senate Banking Committee to yell and scream about Bitcoin (and also to tell kids to get off his lawn). The folks at CCN didn’t like what Roubini said. However, Roubini did state the obvious like, “Mining is a huge harm to the environment,” or “There is widespread corruption – pump and dump schemes, wash sales, etc.” Also, CCN ran a really old picture of Nouriel. Seriously, it looks like it was taken while he was in grad school.

Testimony for the Hearing of the US Senate Committee on Banking, Housing and Community Affairs On “Exploring the Cryptocurrency and Blockchain Ecosystem”

(Dr. Nouriel Roubini via the United States Senate)
On second thought, why bother reading what other people have to say about Roubini’s testimony when you could just read it in all its glory yourself?


Elizabeth Warren Lays Into Crypto (Forbes)

Sen. Warren doesn’t like crypto and says it’s easy to steal. According to Facebook posts by an interpretive dance major who dumped you in college, Warren will easily defeat President Trump in 2020.


Fake News Site Used New Zealand Prime Minister to Pump Bitcoin Startup (CoinDesk)

There’s a weird trend to use New Zealand Prime Minister Jacinda Ardern’s mug in crypto scams on social media. The most surprising thing for Americans reading this article is to find out that one of the dudes from Split Enz is NOT prime minister of New Zealand.


Hackers hide cryptocurrency mining malware in Adobe Flash updates (TheNextWeb)

Steve Jobs hating on Adobe Flash was bad enough. Now there’s a fake update out there that turns your computer into a Monero miner. Is there no end to the shame?


Bitcoin miner sent to prison for stealing electricity from train network in China (The Independent)
“A man in China has been sentenced to three and a half years in prison after stealing electricity from a train network in order to mine bitcoin,” writes the Independent’s Anthony Cuthbertson. He was only able to mine 3.2 BTC.

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Lawrence Lewitinn, CFA was the founding editor in chief of Modern Consensus. Disclosure: Lewitinn owns no cryptocurrencies in his portfolio.