Bitcoin was moving higher Tuesday, up about 4% in late-afternoon trading to $10,700 on most exchanges. As the No. 1 cryptocurrency continues to aim for $11,000, these are the headlines you can't miss on Tuesday, Feb. 27.
Apple's Wozniak Scammed
Apple Inc. (AAPL) - Get Report cofounder Steve Wozniak said at a Global Business Summit that someone stole seven bitcoins from him, according to Fortune. Wozniak said he sold the seven bitcoins to an online buyer who paid for them with a credit card. But before the funds -- which would now be worth more than $70,000 -- could hit his account, the transaction was canceled. Wozniak later found out the credit card used to buy the bitcoin was stolen, meaning he had no means of getting his money back. Wozniak said he still believes in the technology, but recently divested his bitcoin holdings. He added that he got in only as an experiment and didn't want to become a slave to watching the price teeter back and forth.
Bitcoin Pundit Gets Sued
Australian entrepreneur Craig Wright claimed in 2016 to be the mysterious, anonymous creator of bitcoin, known as Satoshi Nakamoto. But now, Wright is being sued over an alleged plot to steal $5 billion worth of bitcoin and other assets from a former business partner, according to CNBC. The lawsuit was filed on behalf of Dave Kleiman by his brother. Kleiman died in 2013 after contracting a MRSA infection. According to Kleiman's brother, Wright and Kleiman partnered to mine bitcoin and owned 1.1 million coins between the two of them. Kleiman's brother is alleging that Kleiman owned between 50% and 100% of the company the two men started to mine bitcoin, claiming Kleiman's estate owns the rights to $5 billion worth of bitcoin and IP rights. The suit reportedly isn't clear on whether Kleiman or Wright were actually Satoshi, but that they were involved with bitcoin "from its inception."
Starbucks' Bitcoin Play
Starbucks Inc. (SBUX) - Get Report will likely utilize blockchain technology as part of new payments technologies, chairman Howard Schultz said during a Fox Business segment Tuesday. Schultz noted the possibility of a "proprietary digital currency" at Starbucks to work in tandem with a new payments app. "I think blockchain technology is probably the rails in which an integrated app at Starbucks will be sitting on top of," Schultz said.
JD.com Bets on Startups
Chinese ecommerce giant JD.com (JD) - Get Reportannounced plans to launch an accelerator program aimed at fostering the development of blockchain-focused startups. The program, to be called AI Catapult, will begin in March and will help young blockchain firms scale their processes through JD.com's businesses in China. The company has already signed up at least four companies to join the incubator, including firms from China, Australia, Singapore and the U.K.
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