Dividends and US annouces crypto seizeure, arrests in connection with 2016 hack of Bitfinex

Recently announced Cryptocurrency was part of a balanced portfolio, and it may be. For most citizens crypto is something you have heard about or something that people who try to steal your money deal with. It can be for you, because what you may have heard was some great gains were made and then losses occurred. Is the currency regulated or non regulated, is good or stay away from. Eventually you need to make your own decision about it, however there was good news reported by the US Justice Department.

In an article from the Associated Press, the US Justice Department it seized $3.6 billion in assets and arrested a couple of laundered billions of dollars in cryptocurrency from the 2016 hack of a virtual currency exchange.

The currency exchange is known as Bitfinex and the US Justice Department sent a signal to criminals cryptocurrency is not a safe haven. We can and will follow the money, no matter what form it takes deputy attorney-general Lisa Monaco said.

The couple who was arrested did not do the hack of Bitfinex, but authorities traced the stolen funds to more than a dozen accounts controlled by the couple. Court documents accuse them on relying on classic money-laundering techniques to hide their activities and the movement of money, such as setting up accounts with fictitious names and using computer programs to automate transactions.

Linking to dividend paying stocks, cryptocurrency does not pay interest it relies on capital gains, but along with capital gains is the opposite capital losses. What goes up generally comes down, so how do your protect yourself? Buying dividend paying stocks that are profitable which can increase their dividends and over time the dividends and capital gains will make you wealthier. Compounding interest is a very powerful tool to use to create wealth. If you believe you have time, then be patient.

There are more questions than answers, till the next time – to raising questions.

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