Federal Reserve Employee Mines Bitcoin Using the Fed’s Server
According to various sources, a Federal Reserve employee was caught using the central bank’s internet server to mine bitcoin. Nicholas Berthaume, who worked for the Federal Reserve Board in Washington, was sentenced to a year of probation and fined $5,000 for using unauthorized Bitcoin software on a federal server. Fed Employee Mines Bitcoin Using the....
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A former employee of the US central banking system, the Federal Reserve, was issued a fine of $5,000 and sentenced to 12 months’ probation for mining bitcoin on a Fed-owned server. Nicholas Berthaume was employed as a communications analyst with the Board of Governors of the Federal Reserve System. According to an announcement by the Fed’s Inspector’s Office yesterday, Berthaume installed unauthorized software on a Board server, enabling him to connect to an online bitcoin network to mine the cryptocurrency. Court documents have revealed that the software was installed between March 2012....
A former employee of the Federal Reserve Board of Directors has fined $5,000 and put on probation after being caught mining bitcoins on a server owned by the US central bank. The Fed’s Office of the Inspector General said today that Nicholas Berthaume, who previously worked as a communications analyst for the board before being fired in light of the incident, had been placed on 12 months of probation after accepting a plea deal on 27th January. He plead guilty to one count of unlawful conversion of government property, a misdemeanor. Court documents show that Berthaume, who was indicted....
Susan M. Collins is set to become the first Black woman to head a Federal Reserve Bank. The Federal Reserve Bank of Boston, or Boston Fed, has selected economist Susan M. Collins, University of Michigan provost, to serve as its new president and chief executive officer.The seat has become vacant in September 2021, when the then-president Eric Rosengren expedited his retirement amid a controversy around his securities trading while in office. Collins, who is Jamaican-American, will become the first Black woman in the Fed’s history to lead a Federal Reserve Bank. She will assume office on....
On Monday, December 13, following Friday’s U.S. consumer price index report published by the Bureau of Labor Statistics, Americans are discussing the Federal Reserve. Thousands of tweets concerning the Federal Reserve topic have been trending on Twitter, as inflation has gripped the U.S. economy. Furthermore, Mohamed El-Erian, the chief economic advisor for the German multinational financial services company Allianz says the term “transitory” was the “worst inflation call in the history,” according to a recent interview.
Allianz Chief Economic....
Bitcoin is the FED’s new favorite subject. Fresh from the Federal Reserve Bank of St. Louis measuring inflation in BTC terms, comes the Federal Reserve Bank of Cleveland with a study titled “The Lightning Network: Turning Bitcoin into Money.” A thorough investigation that unfortunately only “covers the period January 1, 2017, to September 5, 2019,” […]