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There’s another Bitcoin creator in town, but this one is Stephen Mollah

  • Stephen Mollah said he was Satoshi Nakamoto in front of a dozen journalists in London
  • Bitcoin core developer Peter Todd was wrongly named as Nakamoto last month in an HBO documentary

Another man has come forward claiming to be the mysterious creator behind Bitcoin, Satoshi Nakamoto.

This time, he’s called Stephen Mollah. Taking to the stage at London’s Front Line Club in front of around a dozen journalists, Mollah made the claim with one journalist calling it an “odd set up.”

Live tweeting the event on X, Joe Tidy, a BBC journalist, said: “An odd set up to the press conference as the organiser asked me to pay £500 to attend and appear on stage to ask questions of the billionaire mystery man.”

According to Mollah, he’s claimed he’s Nakamoto before, is currently in a legal dispute about it, and is now ready to provide evidence. He tried to reveal who he was in 2016, but “someone stopped him.”

After an hour of listening to Mollah’s backstory, he failed to provide evidence. Instead, he supplied a series of screenshots that could have easily been faked. When Mollah was asked to move some of the Genesis Bitcoin, he said he would in the ‘next few months.’

Mollah and Charles Anderson, the event organizer, have been accused of fraud when Mollah posed as Nakamoto between November 2022 and October last year. The pair pleaded not guilty at a hearing last month, The Standard reports.

Another one to the list

Mollah joins a growing list of people who have claimed to be Nakamoto or others believe them to be.

Last month, the HBO documentary Money Electric: The Bitcoin Mystery wrongly named Bitcoin core developer Peter Todd as Nakamoto. Before the big reveal, the documentary also pointed to Blockstream founder Adam Back.

Following the documentary, Todd said he’d been forced underground over fears for his safety.

Others believed to be Nakamoto include late software engineer Hal Finney and computer scientist Nick Szabo.

In May, a UK High Court ruled against Australian Craigt Wright that he was Nakamoto, arguing that Wright had lied “extensively and repeatedly” throughout the trial, further accusing him of presenting “fabricated” evidence to support his claims.

The post There’s another Bitcoin creator in town, but this one is Stephen Mollah appeared first on CoinJournal.

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Immutable becomes the latest to receive a Wells notice from the SEC over alleged securities laws

  • Immutable claims the notice is “targeting the listing and private sales of IMX in 2021
  • Immutable joins the likes of Coinbase Crypto.com, and OpenSea who have received Wells notices from the SEC
  • The notice is said to have contained less than 20 words of material explanation

Immutable has been issued with a Wells notice from the US Securities and Exchange Commission (SEC) alleging securities laws and misrepresentations by the company.

In a post from the blockchain gaming platform, it said that while nothing was specified in the notice, it believes its “claims are targeting the listing and private sales of IMX in 2021.” Immutable added that “with this action, the SEC is continuing to indiscriminately assert that tokens are securities.”

According to Immutable, they are confident that the IMX token is not a security.

Joins a growing list of targeted companies

For the SEC to issue a Wells notice, it’s generally indicative that the agency is thinking about bringing a lawsuit against a company. If it does, Immutable joins a list of companies in the crypto industry that have faced or are facing lawsuits against the SEC.

Last July, Ripple won a lawsuit against the SEC when Judge Analisa Torres ruled that XRP is not a security. In April, Consensys filed a lawsuit against the SEC to protect the Ethereum ecosystem. The SEC later sued Consensys alleging that the company operated as an unregistered broker-dealer and offered unregistered securities.

Other crypto organizations that have received a Wells notice from the SEC include Coinbase, Crypto.com, and OpenSea.

“With this latest move against Immutable, the SEC’s overreach has expanded into gaming,” Immutable said.

According to Immutable, the Wells notice before the US election illustrates why the “industry is so skeptical of any attempts from this SEC to argue it is attempting to provide clarity.”

“Prior to the issuance of a Wells notice, there are often multiple months of interviews and conversations between company counsel and the SEC, so the SEC can fully understand the situation,” Immutable added. “Instead, in our very first interaction with the SEC, we were told a Wells notice would be issued to the company within the week. We then received it within hours.”

Immutable said that the notice only cited “statutory provisions” and had less “than 20 words of material explanation.”

The post Immutable becomes the latest to receive a Wells notice from the SEC over alleged securities laws appeared first on CoinJournal.

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Ex-President Donald Trump wishes Bitcoin whitepaper a happy 16th anniversary

  • Trump wished a happy birthday to the anniversary of Bitcoin’s whitepaper and called on ending “Kamala’s war on crypto”
  • Since Bitcoin’s initial days, its price has risen to over $72,000 and is accepted as legal tender in El Salvador
  • Trump’s post comes less than a week before the US election results are in

Former US President Donald Trump has sent well wishes celebrating the 16th anniversary of Bitcoin’s whitepaper.

Posting on X, Trump said: “I would like to wish our great Bitcoiners a Happy 16th Anniversary of Satoshi’s White Paper,” adding:

“We will end Kamala’s war on crypto & Bitcoin will be MADE IN THE USA! VOTE TRUMP! #Bitcoin #FreeRossDayOne.”

On October 31, the mysterious creator of Bitcoin, Satoshi Nakamoto, released the whitepaper Bitcoin: A Peer-to-Peer Electronic Cash System, which would change how we view money.

Detailing how the current financial system works, the author proposed introducing a new “electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.”

Initially looked at with scepticism, Bitcoin’s price has since soared to more than $72,000 as it makes its way toward its March all-time high of $73,700, is accepted as legal tender in El Salvador, and retail and institutional investors can invest in spot Bitcoin exchange-traded funds (ETFs).

Trump’s post comes less than a week when the results will be in announcing the next POTUS. Trump and his rival, Vice President Kamala Harris have both been vocal in supporting the crypto industry should they lead the government.

In September, Harris said during a US presidential campaign that, if elected, she would help grow investment in artificial intelligence and crypto. She has also promised to support a “regulatory framework for cryptocurrency and other digital assets.”

Meanwhile, Trump has said he’ll make America the “crypto capital of the world.” Trump has also backed a crypto project called World Liberty Financial, which plans to launch a stablecoin linked to the US dollar. Raising $14 million in initial funding, the project plans to capitalize on the growing demand for stablecoins.

The post Ex-President Donald Trump wishes Bitcoin whitepaper a happy 16th anniversary appeared first on CoinJournal.

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Tether increases its Bitcoin and gold holdings to $4.8B and $5B respectively

  • Tether (USDT) circulation surged to $120B, marking a 30% increase in 2024.
  • Tether’s Bitcoin and gold holdings increased to $4.8B and $5B, respectively.
  • Tether’s net equity doubled to $14.2B, while it faces ongoing legal challenges.

Tether has announced a substantial increase in its Bitcoin and gold reserves, as detailed in its latest Q3 2024 Consolidated Financials Figures and Reserves Report.

Tether’s Bitcoin holdings have reached an impressive $4.8 billion, while its gold reserves now stand at $5 billion, reflecting the company’s strategy to bolster its asset base amid rising global demand for its stablecoin, USDT.

Circulation of USDT increases by 30%

This quarter has been particularly notable for Tether, as the circulation of USDT has soared to a record $120 billion, marking a 30% increase in 2024.

This surge adds $27.8 billion year-to-date and positions Tether’s market cap close to that of its competitor, Circle’s USDC, which currently stands at $35 billion according to CoinGecko data.

Tether’s growth is indicative of the increasing reliance on stablecoins within the cryptocurrency ecosystem, driven by greater adoption and market confidence.

Tether expands its US Treasury Bills holdings

Additionally, Tether has significantly expanded its holdings in US Treasury Bills, which now total $84.5 billion, constituting the largest segment of its reserves. This strategic move has contributed to Tether’s robust financial health, with net equity doubling to $14.2 billion from $7 billion at the end of 2023.

Furthermore, through its subsidiary, Tether Investments Limited, the company manages an additional $7.7 billion in assets across sectors such as sustainable energy, Bitcoin mining, and data infrastructure. However, these assets are not included in the reserves backing Tether tokens.

Despite its growth, Tether is currently navigating three civil litigation proceedings involving its holdings and operations. Notably, these cases include a class action related to Bitcoin’s price decline in 2017-2018, a lawsuit stemming from the Celsius bankruptcy, and a dispute over USDT in a non-Tether controlled wallet.

The post Tether increases its Bitcoin and gold holdings to $4.8B and $5B respectively appeared first on CoinJournal.

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Florida holds $800 million in crypto, state CFO says

  • Florida has invested nearly $800 million in crypto, according to the state’s chief financial officer Jimmy Patronis.
  • Patronis shared more about Florida’s crypto investment during an interview with CNBC on Thursday, Oct. 31, 2024.
  • According to Patronis, crypto is here and its an opportunity that Florida is keen to harness.

Florida holds approximately $800 million in cryptocurrencies, the state’s chief financial officer Jimmy Patronis says.

The Florida CFO said this during an interview with CNBC’s Squawk Box on Thursday, October 31, 2024. According to Patronis, Florida’s move to add crypto investments to the state’s portfolio follows the understanding that crypto is here to stay.

“Crypto’s not going anywhere,” Patronis told CNBC, adding “We’d be a fool if we’re not prepared to do everything we can to harness the opportunities there.”

Crypto getting traction

As Florida looks to explore further opportunities with Bitcoin and the crypto market, Patronis believes the state’s current exposure to the asset class will increase significantly if Donald Trump wins the upcoming election.

His remarks come as the crypto industry views Trump as the pro-crypto candidate that will help advance the crypto industry in the United States. Like Trump, Patronis said Florida is against any form of central bank digital currency, or CBDC.

Also important is the country’s focus on getting ahead of China in the race to be the global leader of this market – which Patronis reiterated isn’t “emerging” but is already here.

Florida state pension fund’s investment in crypto adds to a growing list of state funds adding BTC and crypto to their portfolio. Among state pension funds, the State of Wisconsin Investment Board and Jersey City are the two latest entities to announce they hold crypto investments. Jercy City mayor Steven Fulop revealed the city’s plan to add spot Bitcoin ETFs to its pension fund in July.

Meanwhile, Emory University recently became the first endowment fund in the US to disclose investment in spot Bitcoin ETFs.

The post Florida holds $800 million in crypto, state CFO says appeared first on CoinJournal.