How An Ex-CIA Director Proved Bitcoin Use in Crime is Declining

Former Central Intelligence Agency (CIA) Acting Director Michael Morell wrote a report titled “An Analysis of Bitcoin’s Use in Illicit Finance”. The ex-government employee had over 33 years working at the Agency.

Published by the Crypto Council for Innovation, Morell’s investigation attempts to disprove a thesis defended by many authorities around the world: Bitcoin is a tool to finance cybercrime and other illicit activities.

Morell considers Bitcoin to have a growing momentum and a spreading use as a store of value. Endorsed by companies like Tesla and MicroStrategy, the cryptocurrency is riding a major wave of adoption.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

To achieve his goal, Morell consulted many experts in financial services, payment systems, global intelligence, even former senior government officials. The Ex-CIA director himself used to believe Bitcoin and cryptocurrencies are a convenient way of sending money anonymously.

However, the research made him changed his mind. He was able to reach important conclusions: Bitcoin’s use as an illicit finance tool is “significantly overstated” and:

The blockchain ledger on which Bitcoin transac-tions are recorded is an underutilized forensic tool that can be used more widely by law enforcement and the intelligence community to identify and dis-rupt illicit activities.

Bitcoin’s financial use is predominantly legal

The research conducted by the former CIA Director indicates that there is no data that supports two of the most common assertions regulators make when it comes to Bitcoin.

First, that its use for illicit financial transactions is growing. Second, that this is the cryptocurrency’s primary use case. The report says:

(…) the common belief that Bitcoin is both primarily and increasingly used for purposes of illicit finance is “un-informed and not based on data” and that “there are no numbers and no methodologies” supporting it.


Results from the polemic analytics firm Chainalysis indicate that of Bitcoin’s total activity, dating from 2017 to 2020, less than 1% is used for non-legal purposes.

Further data provided by analytics firm CipherTrace claims that of BTC’s overall trading volume only 0.5% can be attributed to illicit activity. In contrast, fiat currencies’ use in non-legal transactions is estimated on the order of 2% to 4%. The report says:

A former CIA analyst added credence to the above estimates due in part to the difference in overall volume, most illicit activity still takes place in the traditional banking system and not via cryptocurrency.

Therefore, Morell concluded that illicit use of Bitcoin and cryptocurrencies is “not higher than it is in the traditional banking system”.

Bitcoin is trading at $63.063 with 4.9% profits in the past day. In the weekly and monthly chart, BTC has 7.5% and 2.9% gains respectively.



Tagged : / / /

Interview: Escaping The Cloud With Bitcoin Sign Guy

Watch This Episode On YouTube

Listen To This Episode:

This week for the “Bitcoin Magazine Podcast,” host Christian Keroles sat down with the legendary Christian Langalis (aka Bitcoin Sign Guy). The two Christians opened up the podcast by discussing Bitcoin, lockdowns, human freedom and Langalis’s historic moment of holding up the “Buy Bitcoin” sign behind Janet Yellen at a 2017 Federal Reserve testimony hearing. At the time, Yellen was the chair of the Federal Reserve and now she is the U.S. Secretary of the Treasury.

Since Langalis’s immediate rise to Bitcoin meme legendary status, he has taken his passion for Bitcoin and freedom to the Urbit project, where the team is working on reinventing the computer in a way that removes all of the legacy technical debt and starts over with a fresh language and architecture to optimize computing for personal servers and peer-to-peer interactions. Urbit is pioneering the future of personal computing and running personal servers and Bitcoin is at the heart of it! Urbit has reached a point where it has several key usability primitives like storage, messaging, Bitcoin and more.

If you want to learn more about Urbit visit and reach out to 


Tagged : / / / / / / /

Ethereum Is Undervalued and Can Go Another 500% From Here: Analysis

Ether could double-down on its recent bull run by surging 500% more which will take it well within a five-digit price territory, suggested a former hedge fund manager and popular crypto analyst, Teeka Tiwari. He further claimed that Ethereum could surpass bitcoin as the most valuable crypto due to the high levels of utilization.

ETH to $13,000?

The Ethereum blockchain is arguably the most used network in the cryptocurrency space. From several stablecoins running on top of it to being the underlying technology behind two of the most popular manias – NFTs and DeFi.

Although this enhanced utilization comes with drawbacks of its own, such as delayed transactions and high fees, it has positively impacted the price of the native cryptocurrency. ETH is more than 200% up since the start of the year as it painted yet another all-time high of over $2,3000 earlier today.

Despite this massive increase, the popular trader Teeka Tiwari still sees the asset as “wildly undervalued” and predicted more bullish developments right around the corner. He believes ETH’s value will expand by 500% from its current position by the end of 2020 alone.

With ETH trading above $2,200 as of writing these lines, such a sizeable surge will take it to roughly $13,000 per coin. The asset’s market capitalization will skyrocket to over $1.5 trillion.


Moreover, Tiwari asserted that ether will eventually surpass bitcoin’s market cap, which is situated at just shy of $1.2 trillion now.

“In my view, two trends – DeFi and decentralized apps (called dApps) – will make Ethereum the most valuable software platform in history. Because when you eliminate the need for a third party or middleman, you can dramatically lower costs.” – he added.

Scaramucci and Cuban Support?

Tiwari outlined that he’s not the only believer in the future of Ethereum. He referred to recent positive comments from SkyrBridge Capital’s CEO – Anthony Scaramucci, and the billionaire investor and owner of the Dallas Mavericks – Mark Cuban.

The former White House Director of Communications recently highlighted Ethereum’s fundamentals and predicted that the native digital asset will become a “sticky” cryptocurrency and “a store of value.”

On the other hand, Cuban referred to ETH as a “true currency” that he started accumulating four years ago and currently comprises about 30% of his cryptocurrency investment portfolio.


Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Tagged : / / / / / / / / / /

Music Mogul Akon Working With Two African Nations To Build Crypto-Powered Cities

Senegalese-American musician Akon is on an ambitious mission to build crypto-powered cities both in Senegal and Uganda.

According to the Washington Post, Uganda’s urban development minister Isaac Musumba has committed to giving Akon land measuring at least one square mile on which the Grammy-nominated singer will build a smart city. The project is the second of its kind that the music mogul has secured, with the other in his ancestral homeland of Senegal.

Construction of the Ugandan sustainable smart city is expected to take at least 15 years before completion.

The Grammy-nominated singer’s first sustainable smart city in Senegal is on a piece of land measuring 2,000 acres. So far, the Senegalese project known as Akon City has allegedly secured $4 billion from investors, just $2 billion short of the $6-billion goal.

The two projects in Africa will both run on Akon’s own cryptocurrency called Akoin (AKN). Akoin is a utility token and a decentralized applications (dApp) platform. Akoin is based on the Stellar Lumens (XLM) blockchain and is currently ranked at number 3,064 on CoinMarketCap at the time of writing

The ultimate goal of Akoin is to act as a medium of exchange among Africa’s 54 countries. Akon is on record as saying that cryptocurrencies could be a “savior for Africa.”

“I think that blockchain and crypto could be the savior for Africa in many ways because it brings the power back to the people and brings the security back into the currency system. [It] also allows the people to utilize it in ways where they can advance themselves, and not allow governments to do those things that are keeping them down.”

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong/Dario Lo Presti


Tagged : / / / /

DigitalBits To Become Premier Choice for NFTs After Litemint Partnership

As NFT mania continues, the XDB Foundation announced the addition of Litemint to the DigitalBits blockchain. The inclusion is part of its focus on supporting blockchain use cases that include consumer digital assets such as these now coveted tokens.

Built on Stellar, Litemint is set to play a key role in supporting the addition of NFT functionality to the DigitalBits blockchain. The technology company connects crypto enthusiasts, collectors, and gamers to unique experiences and recently unveiled its NFT and Collectibles marketplace.

Its new feature is designed to be a service for players who wish to take advantage of blockchain technology for true asset ownership and peer-to-peer trades of in-game items. This represents a necessary drift from the walled-garden model that is commonplace in the gaming industry.

The partnership between DigitalBits and Litemint provides both parties with important benefits. The blockchain protocol provides secure and low-cost global transactions and has recently been sought after by other projects to support their respective NFT initiatives. In many aspects, the network has become preferable to Ethereum due to its scalability solutions.

As the current market leader for NFTs, Ethereum has been plagued with high transaction fees and wait times. These factors have hindered NFTs’ advance into esports and gaming applications despite their potential value to these industries.

By using scalable networks such as DigitalBits, Litemint could make the issuance, transfer, and trade of NFTs more efficient and ultimately drive wider adoption. Litemint CEO Frederic Rezeau believes the DigitalBits is “a perfect match” for NFTs and collectibles due to its closeness with the mainstream gaming industry.

On the other hand, XDB managing director Michael Gord believes “NFTs have the ability to add an entirely new layer to the user experience, allowing for unique activations that can be implemented across numerous different industries.” The addition of NFT functionalities to the DigitalBits blockchain is sure to broaden its appeal to its user base and investors.

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

Follow Us on Twitter Facebook Telegram



Tagged : /

Dogecoin (DOGE) hits a new ATH as Bitcoin bulls try to flip $63K to support

Dogecoin (DOGE) price experienced a strong 36% rally on April 13 and established a new all-time high at $0.0961. While the exact reason for the rally is unknown, the crypto market’s most popular meme coin now finds itself on the shortlist of cryptocurrencies being considered as a payment option in today’s post-pandemic business reopenings. 

While the exact reason for the rally is unknown, the crypto market’s most popular meme coin now finds itself on the shortlist of cryptocurrencies being considered as a payment option in today’s post-pandemic business reopenings. 

Data from Cointelegraph Markets and TradingView shows that DOGE rose 36% from a low of $0.07 in the early hours on Tuesday to an intraday high of $0.0961 on $5.4 billion of trading volume.

DOGE/USDT 4-hour chart. Source: TradingView

Price growth for Dogecoin has become one of the biggest stories of 2021 as big-name influencers like Elon Musk, Snoop Dogg and Mark Cuban are proud members of the ‘Dogecoin Army’ as evidenced by a large number of DOGE-related tweets in their timelines.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for DOGE on April 11, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. DOGE price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for DOGE first began turning green on April 8 and then reached a high of 67 on April 10 around three hours before staging a brief 30% rally on April 11. Following that rally, the VORTECS™ Score began to rapidly rise on April 12 and reached a high of 87 on April 13 as DOGE began to rally another 40%.

Now that cryptocurrencies are receiving mainstream attention with new signs of adoption showing up daily, projects with large communities and celebrity endorsements like Dogecoin are poised to see a fresh wave of interest as new users enter the space looking for the next big moonshot.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.