Cryptocurrency Daily Roundup - May 14

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Here is a summary of some of the select stories on cryptocurrency and blockchain during the past 24 hours.

Bitcoin shoots above $8000; Highest in a year

Bitcoin, which is on a strong recovery path from its 2018 lows, has broken another important benchmark by shooting above $8000 late Monday. The price reached $8291 in the early hours of Tuesday, a high not seen since May 20, 2018.

Crypto money laundering ring busted in Spain

A large-scale cryptocurrency money laundering ring in Spain has been dismantled in a joint operation by Europol and Spanish law enforcement authorities. Eleven vehicles, EUR16800 ($18871), around 200 cannabis plants, two crypto ATMs, computers, devices, jewels and relevant documents were seized. The authorities froze several bank accounts, four cold wallets and 20 hot wallets, to which EUR9 million ($10 million) was transferred.

Michael Terpin Wins $75.8 mln in cryptocurrency fraud case

Michael Terpin, a US blockchain and cryptocurrency investor, won $75.8 million in a suit against a man who defrauded him of cryptocurrencies through SIM swapping, Reuters reported. The case was against Nicholas Truglia, 21, who was allegedly part of a scheme that defrauded Terpin of digital currencies.

Bakkt to test Bitcoin Futures in July

Bitcoin futures exchange Bakkt said it would start testing physically-settled bitcoin futures contracts in July. As detailed in the ICE Futures U.S. filing with the U.S. Commodity Futures Trading Commission (CFTC), bitcoin futures will be listed on a federally regulated futures exchange in the coming months. The launch date is yet to be announced.

Brazil's Banco Bradesco Joins Trade Finance Network Marco Polo

Brazil's banking and financial services company Banco Bradesco joined the Marco Polo trade finance network to use the platform's distributed ledger technology (DLT) to enhance efficiencies in financing trade and working capital. Banco Bradesco, expects to launch the network's first pilot in the Latin American region.

Current Prices

As of this writing, Bitcoin is trading up 6.97 percent or $524.15 at $8060.99 on Coinbase. Ethereum is gaining 5.44 percent or $10.69 at $206.77.

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