Wounded BTC Miner charges Trading Repressions in China

Constant repressions on bitcoin trading in mainland China has led to a Taiwanese bitcoin miner in being shot by local bandits
16 April 2018   1502

According to Liberty Times` report (Taiwanese news source), the incident happened  on Saturday night, when two local killers had planned to meet a bitcoin miner with whom they had made a substantial investment.

The miner who has the surname Wu, had preliminary accepted 10 million Chinese yuan (approximately $1.7 million) from the two - surnamed Li and Gao - in order to take part Wu's bitcoin mining procedure. While the exact whereabouts of the mining facility remains unknown, the report hinted that the provision could be inside mainland China.

With nearly $370,000 of benefit, Wu declared in the report that due to pressuring  regulations on bitcoin trading in China, the income could not be exchanged at once for fiat currency, as per the two gangsters' demands - a factor that sparked a dispute at the appointment.

With the further development of things, Wu was shot in his ankle. The gangsters left  the crime location, but found themselves into the police seven hours later this incident. The police then affirmed the suspects were from local gangs.

While not the first occasion of a crime related to bitcoin in Taiwan, the case is definitely notable for the involvement of participants in organized  misdeed. The news also reveals another incident where the surging price of bitcoin over the past year has led to crimes involving armed aggressors. For example, the two events in Canada and the U.K. in January, when the thieves robbed bitcoin investors at gunpoint.

Also last week, Singapore's police reported about a case in which bitcoin brokers were stealed of some $300,000.

SoftBank Founder to Lose $130M Due to BTC Investment

Masayoshi Son bought Bitcoin at the peak price and sold in the beginning of 2018
23 April 2019   125

Billionaire and head of the Japanese media corporation SoftBank Masayoshi Son made a major bet on the growth of Bitcoin during its price peak, which led to losses of more than $ 130 million, The Wall Street Journal reports, citing informed sources.

The exact amount of investment is unknown. However, the publication reports that Son acquired “digital gold” at the end of 2017, when BTC price confidently moved to around $ 20,000. Against the background of a sharp fall in early 2018, the investor got rid of the asset, fixing the loss.

Masayoshi Son is famous for his extreme risk appetite. So, at one time he invested in the Alibaba Group after a five-minute conversation with its founder, Jack Ma. Also, Son decided to invest $ 200 million in a startup dealing with solutions for growing vegetables indoors, thinking only about 30 minutes.

Some time ago, SoftBank's investment division sold Nvidia shares for $ 3.6 billion. The decision was made after a significant reduction in the capitalization of the manufacturer of video cards.