The United Kingdom (UK) has introduced new legislation granting enhanced powers to the National Crime Agency (NCA) and police to seize, freeze, and destroy cryptocurrencies used for illicit activities. According to the press release, the proceeds came into force today. The updated proceeds aim to bolster the ability of UK law enforcement to effectively investigate, …...
Senators Elizabeth Warren and Bill Cassidy have expressed their concerns about the increasing use of crypto in the illegal trade of child sexual abuse material (CSAM). The duo shared their concerns in a joint letter to U.S. Attorney General Merrick Garland and Secretary of Homeland Security Alejandro Mayorkas. In addition, the senators are calling on …...
The U.S. Securities and Exchange Commission (SEC) has announced the filing of charges against Geosyn Mining, LLC, a Texas-based crypto asset mining and hosting company, and its co-founders, Caleb Ward (CEO) and Jeremy McNutt (former COO). The charges are based on allegedly engaging in an unregistered and fraudulent securities offering. The complaint, filed in the …...
Shiba Inu, the second-largest meme coin, has announced a significant upgrade to its Shibarium network. The upcoming hard fork is set to go live on May 2nd. The team stated in a tweet thread that the upcoming changes aim to improve the user experience, empower the developer and innovator communities, and unlock the platform’s next-level …...
Consensys, a prominent backer of the Ethereum blockchain, has filed a lawsuit against the SEC in a Texas federal court. On Thursday, Consensys initiated legal action to preempt an impending SEC lawsuit over features of its popular MetaMask wallet. Additionally, the lawsuit seeks a court ruling on the issue of whether Ethereum (ETH) should be …...
CryptoPunk #635, one of the rare “AlienPunks” from the iconic CryptoPunks NFT collection, has sold for 4,000 ETH. The sale was worth $12.41 million at the time of the sale. The transaction, which took place on April 25, marks the sixth-most expensive CryptoPunk sale to date, according to the CryptoPunks sales platform. Key points: The …...
In a letter addressed to U.S. District Judge Richard A. Jones of the Western District of Washington, Changpeng Zhao, the former CEO of Binance apologized for his “poor decisions” and accepted full responsibility for his actions. The letter, filed on Tuesday, comes as Zhao awaits sentencing for his role in enabling Binance to violate federal …...
Tether, the issuer of stablecoin USDT, has recently announced that it will freeze wallets that are using the digital currency to circumvent sanctions on oil exports in Venezuela. The decision comes in response to a report revealing that Venezuela’s state-run oil company, PDVSA, has increased its use of Tether following the U.S. government’s reimposition of …...
The Central Bank of Nigeria (CBN) has issued a new directive requiring all banks and financial institutions in the country to identify individuals or entities engaging in transactions with cryptocurrency exchanges. The circular also requires the bank to place their accounts under a Post No Debit (PND) instruction for a period of six months. Key …...
The U.S. Department of Justice (DOJ) has recommended that Changpeng “CZ” Zhao, the founder and former CEO of Binance, spend three years in prison. The DOJ recommended a 3-year prison sentence for Zhao due to his role in enabling the cryptocurrency exchange to violate federal sanctions and money laundering laws. In a sentencing memo filed …...
The U.S. Securities and Exchange Commission (SEC) is now the target of a lawsuit brought by the Texas Crypto Freedom Alliance and the Blockchain Association. The lawsuit alleges that the agency’s recently expanded definition of a “dealer” has overreached and could potentially capture individuals who are merely trading in cryptocurrencies. Key points: According to the …...
The Crypto.com exchange is facing an urgent on-site inspection by South Korean financial authorities regarding potential money laundering activities. According to a report by local news outlet Segye, the Financial Intelligence Unit (FIU) initiated the inspection on April 23rd, just six days before the planned launch of Crypto.com’s domestic service in the country. Key points: …...
Venezuela’s state-run oil company, PDVSA, is ramping up its use of digital currencies, particularly Tether (USDT), for crude and fuel exports. This comes after the United States reimposed oil sanctions on the country. According to Reuters, the move is aimed at reducing the risk of sale proceeds being frozen in foreign bank accounts due to …...
Ripple has filed its opposition to the Securities and Exchange Commission’s (SEC) Motion for Remedies and Entry of Final Judgment in the ongoing legal battle over the sale of XRP tokens. The move comes after the SEC proposed that Ripple should pay nearly $2 billion in fines for selling XRP to institutional investors. However, Ripple …...
According to a recent report by Bloomberg, two Securities and Exchange Commission (SEC) lawyers have resigned following a federal judge’s rebuke of the agency for its handling of a crypto case against DEBT Box. According to sources familiar with the matter, Michael Welsh and Joseph Watkins resigned after an SEC official threatened to fire them …...
In a recent development, Sam Bankman-Fried, the convicted founder of the collapsed cryptocurrency exchange FTX, has reached a settlement agreement with a group of FTX customers who had filed a class action lawsuit against him. The agreement was filed in a Miami court on Friday and is yet to be approved by a judge. If …...
Crypto investment products have witnessed outflows for the second week in a row. According to the data, a total of $206 million in capital exited the market. CoinShares reported that this trend coincides with a slight dip in trading volumes for exchange-traded products (ETPs), which recorded $18 billion in transactions. The data suggests that investor …...
The Securities and Exchange Commission (SEC) of Thailand has announced its collaboration with the Ministry of Digital Economy and Society (DE) and other related agencies. The collaboration is part of the plan to block unauthorized access to digital asset service providers’ platforms. This move aims to increase the efficiency of law enforcement and prevent criminals …...
ZachXBT, a crypto sleuth, recently revealed that 12 Solana meme coin projects have collectively raised more than 180,650 SOL (approximately $26.7 million) through presale events. However, he emphasized that the founders abandoned these coins within a month of their launch. Key points: According to the data shared by ZachXBT, the presale that raised the highest …...
A Nigerian court has adjourned the tax evasion trial against cryptocurrency exchange Binance and two of its executives until May 17. BusinessDay, a local news platform, reports that the decision followed a procedural standoff because the exchange has not yet received formal charges. The absence of one executive and the ongoing detention of another have …...
A federal jury in New York has found Avraham Eisenberg, a 28-year-old crypto trader, guilty of commodities fraud, commodities manipulation, and wire fraud for his actions on the decentralized finance platform Mango Markets. According to Bloomberg, the verdict, delivered on Thursday, marks the first time a US trial involving criminal charges tied to cryptocurrency manipulation …...
Stablecoin issuer Tether has announced a significant expansion beyond its well-known USDT stablecoin offering. To deliver a range of infrastructure solutions, Tether has established four distinct business divisions: Tether Data, Tether Finance, Tether Power, and Tether Edu. Key points: This shift in Tether’s approach is part of its effort to provide sustainable solutions that adapt …...
Binance, the world’s largest cryptocurrency exchange, is reportedly preparing to make a comeback in India after being banned by the government in January. According to a report by the Economic Times of India, the exchange is set to pay a penalty of approximately $2 million. Additionally, sources familiar with the matter stated that the exchange …...
Crypto investment products saw minor outflows totaling $126 million last week, according to a report by CoinShares. The outflow occurred as investors appeared to be hesitant in the face of stalled positive price momentum. Despite a slight increase in overall volumes from $17 billion to $21 billion week-on-week, ETP/ETF activity dropped relative to the overall …...
The UK government is on track to introduce comprehensive legislation for the regulation of crypto assets by June or July, according to Economic Secretary Bim Afolami. Speaking at the Innovate Finance Global Summit on Monday, Afolami confirmed that the government is working swiftly to deliver the legislation that will bring a wide range of crypto-related …...
The Solana developers have recommended a new software update, version 1.17.31, for general use by mainnet validators. The release, which aims to address the congestion problem that has plagued the popular blockchain in recent months, contains improvements designed to alleviate the ongoing network congestion. Key points: Read more: Hong Kong Approves Spot Bitcoin And Ethereum …...
The Hong Kong Securities and Futures Commission (SFC) granted approval to several spot Bitcoin and Ethereum exchange-traded funds (ETF) applications on Monday. This development comes as Hong Kong continues its efforts to establish itself as a leading destination for crypto firms and investors. Key points: The approval of these spot crypto ETFs marks a significant …...
Coinbase has filed an interlocutory appeal in its ongoing legal battle with the Securities and Exchange Commission (SEC). The appeal, filed on Friday, aims to address a narrow point of legal disagreement and seeks to have it considered independently by the U.S. Court of Appeals for the Second Circuit. Key points: The appeal comes after …...
The court sentenced Shakeeb Ahmed, a former senior security engineer, to three years in prison for hacking two separate decentralized crypto exchanges and stealing over $12 million worth of cryptocurrency. Damian Williams, the United States Attorney for the Southern District of New York, announced the sentence, marking the first-ever conviction for the hack of a …...
Sam Bankman-Fried, the disgraced co-founder of the now-defunct cryptocurrency exchange FTX, has formally initiated the process to appeal his conviction and the 25-year prison sentence. SBF lodged an appeal in the Manhattan federal court on Thursday, following his sentencing to over 25 years in prison by Judge Lewis A. Kaplan. Key points: Read more: Robert …...
In a recent tweet, Robert Kiyosaki, the renowned author of the best-selling book “Rich Dad Poor Dad,” expressed his support for Cathie Wood’s bold prediction that Bitcoin will reach $2.3 million per coin. Kiyosaki praised Wood’s intelligence and her willingness to make mistakes and learn from them. Key points: Read more: Former FTX Executive Ryan …...
Ryan Salame, a former executive of the collapsed cryptocurrency exchange FTX, will face sentencing on May 28 in a New York courtroom. The sentencing, which was originally set for May 1, has been rescheduled for reasons that remain unclear. Salame is scheduled to appear before Judge Lewis Kaplan of the United States District Court for …...
Hayden Adams, the founder of Uniswap, a leading decentralized exchange, has announced that Uniswap Labs has received a Wells notice from the U.S. Securities and Exchange Commission (SEC). In a recent tweet, Adams expressed his frustration and disappointment with the SEC’s decision to target long-time good actors in the cryptocurrency industry while allowing bad actors …...
Binance, the world’s largest cryptocurrency exchange, is currently in discussions with several jurisdictions regarding the selection of its official headquarters, according to CEO Richard Teng. During a fireside discussion at Paris Blockchain Week, Teng emphasized that the decision-making process is complex and involves a multitude of factors that must be carefully considered. Key points: Teng …...
Arthur Hayes, co-founder and former CEO of crypto exchange BitMEX, has cautioned that Bitcoin (BTC) may face selling pressure in the days surrounding the mining-reward halving scheduled for April 20. Despite the event being widely considered bullish for the cryptocurrency, Hayes believes that the well-entrenched narrative could lead to a price correction. Key points: Hayes …...
Tigran Gambaryan, a Binance executive who was detained by Nigerian authorities alongside his colleague Nadeem Anjarwalla, pleaded not guilty to money laundering charges at a high court on Monday. Local reports state that Gambaryan, the head of Binance’s financial crime compliance, is on remand until trial, with the option to request bail until April 18. …...
A jury in the United States District Court for the Southern District of New York has found Terraform Labs and its co-founder, Do Kwon, liable for defrauding investors in crypto asset securities. The verdict, delivered after a nine-day trial, marks a significant victory for the Securities and Exchange Commission (SEC) in its efforts to regulate …...
The bankruptcy administrators of the collapsed cryptocurrency exchange FTX have sold approximately two-thirds of a $2.6 billion stash of Solana (SOL) at a heavily discounted price. The deal attracted interest from prominent industry players such as Galaxy Trading and Pantera Capital. According to the details shared by Bloomberg, the deal saw between 25 million and …...
PayPal has announced a new feature that allows U.S. users to fund cross-border money transfers using USD converted from its native stablecoin, PayPal USD (PYUSD). The service, powered by PayPal’s money transfer platform Xoom, enables users to send money to friends and family in approximately 160 countries without incurring any Xoom transaction fees. Key points: …...
Analysts at JPMorgan have noticed a continued decrease in staking platform Lido’s share of staked Ethereum (ETH). The analysts believe this should alleviate concerns about concentration in the Ethereum network. In a research report released on Wednesday, the analysts, led by Nikolaos Panigirtzoglou, highlighted that this trend could potentially reduce the likelihood of ETH being …...
Ripple, the enterprise-focused blockchain service, has announced its intention to introduce a new stablecoin pegged to the U.S. dollar later this year. The stablecoin will initially be deployed on the XRP Ledger and the Ethereum blockchain. Key points: Ripple anticipates a clear demand for stablecoins that offer trust, stability, and utility as the stablecoin market …...
Coinbase achieved a significant milestone in its global expansion efforts by obtaining a registration license in Canada. Canadian Securities Administrators (CSA) has registered Coinbase as a restricted dealer, as the company recently informed CNBC. This authorization allows Coinbase to operate legally in the country and deepens its international presence as it faces regulatory hurdles in …...
Alphabet Inc.’s Google has filed a lawsuit against two individuals based in China. The tech giant accused them of using the company’s platforms to distribute and advertise fraudulent cryptocurrency apps, according to Bloomberg. The lawsuit, filed in federal court in New York on Thursday morning, alleges that the defendants engaged in racketeering, violating the Racketeer …...
The rapidly growing EigenLayer protocol, spearheading the rise of restaking on the Ethereum blockchain, has the potential to become a crucial component of the ecosystem’s infrastructure. However, a recent research report by Coinbase highlights the hidden risks associated with this emerging sector. The report also points out that it could threaten the stability and security …...
The U.S. government has reportedly transferred 30,175 Silk Road Bitcoin to a wallet associated with Coinbase. The transaction, which took place late Tuesday morning, is valued at approximately $2 billion based on BTC’s current price of around $65,000 per coin. Key points: Also read: Crypto Funds Bounce Back With $862,000,000 Inflows The massive movement of …...
Crypto funds have experienced a significant rebound in sentiment, with inflows reaching $862 million last week. The inflow has nearly erased the previous week’s record outflows of $931 million, according to a recent report by CoinShares. The report notes that ETF activity is slowing down, with daily trading turnover now at $5.4 billion, a 36% …...
A Bitcoin wallet that has been inactive for 11.7 years has suddenly sprung to life. The wallet has transferred its entire balance of 500 BTC, worth just under $35 million at current prices, to multiple new addresses. Key points: According to data provided by Lookonchain, a blockchain analytics platform, the wallet in question originally received …...
The recent proliferation of meme coins on the Solana blockchain with racist themes and offensive names has ignited a heated debate within the cryptocurrency community. During a panel discussion at the BUIDL Asia summit in Seoul, experts weighed in on the issue. They discussed whether wallet apps, decentralized exchanges, and nodes should take steps to …...
A UK judge has approved the freezing of £6 million ($7.6 million) worth of assets belonging to Craig Wright. Wright is an Australian computer scientist who claimed to be Satoshi Nakamoto, the creator of the Bitcoin network. Judge James Mellor issued the court order to stop Wright from moving his assets offshore and avoid court …...
In a recent blog post, Ethereum co-founder Vitalik Buterin called for a more positive approach to meme coins and crypto games. Buterin also urged developers to create projects that contribute positively to the ecosystem and the world at large. Buterin’s post comes amidst growing concerns about the rise of meme coins, particularly on the Solana …...
Tigran Gambaryan, a detained executive from the global cryptocurrency exchange Binance, has filed a lawsuit against Nigeria’s National Security Adviser and the Economic and Financial Crimes Commission (EFCC). Gambaryan accused the government of allegedly violating his basic human rights. Local sources state that Gambaryan’s move alleges violations of the Nigerian constitution in relation to his …...
The US and the UK are currently reviewing more than $20 billion worth of USDT transactions that have passed through Garantex, a Russia-based crypto exchange, according to Bloomberg. This investigation is part of the ongoing efforts by the allies to clamp down on sanctions evasion that has been supporting Russian President Vladimir Putin’s war in …...
In a recent report, Immunefi, a leading web3 bug bounty and security services platform, stated that the crypto ecosystem experienced a 23.1% decrease in losses during the first quarter of 2024 compared to the same period in 2023. Despite this decline, the report highlights that the industry still lost $336.3 million to hacks and fraud …...
Sam Bankman-Fried, the disgraced founder and former CEO of the now-defunct cryptocurrency exchange FTX, has been sentenced to 25 years in prison by a Manhattan court. The sentencing comes after Bankman-Fried’s conviction in November on seven counts of fraud and conspiracy related to the operation and subsequent collapse of FTX. The collapse of FTX resulted in the …...
Nexo has announced a new feature that allows users to send and receive cryptocurrencies and stablecoins between accounts instantly and without fees. This addition to the platform enables individuals to transfer crypto by simply entering the recipient’s Nexo platform-registered email or phone number, facilitating seamless peer-to-peer (P2P) transactions. Read more: Dutch Prosecutors Recommend 64-Month Jail …...
The UK Financial Conduct Authority (FCA) has released finalized guidance that brings social media influencers and crypto memes under the radar of the country’s financial promotion rules. The move comes as part of the regulator’s efforts to combat the rise in financial scams and misleading advertisements, particularly in the crypto sector. Key highlights: Published on …...
Dutch prosecutors have recommended a 64-month jail sentence for Alexey Pertsev, a developer of Tornado Cash. The two-day trial, held in the ‘S-Hertogenbosch court in the Netherlands on Tuesday and Wednesday, centered on accusations that Pertsev had engaged in money laundering activities. Key points: Read more: Tether (USDT) Leads Cryptocurrencies In Illegal Transactions: TRM Labs …...
A recent report by blockchain analytics firm TRM Labs sheds light on the state of illicit activity within the cryptocurrency ecosystem in 2023. The report, titled “The Illicit Crypto Economy,” reveals that the total amount of illicit funds in the crypto space has decreased by 9% compared to 2022. However, criminals still managed to handle …...
In one of the most recent developments in the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Coinbase, a federal judge has ruled that the SEC’s case against the cryptocurrency exchange can move forward. Judge Katherine Polk Failla of the U.S. District Court for the Southern District of New York denied …...
Global crypto exchange KuCoin and two of its founders, Chun Gan and Ke Tang, have been indicted by U.S. authorities for allegedly conspiring to operate an unlicensed money transmitting business and violating the Bank Secrecy Act. The indictment accuses KuCoin of failing to maintain adequate anti-money laundering (AML) programs and knowingly serving U.S. customers without …...
The National Data Protection Commission (CNPD), Portugal’s data regulator, has decided to temporarily limit Worldcoin and its collection of biometric data through its Orb devices within the country. The measure aims to protect the rights of Portuguese citizens, particularly minors. This measure comes into effect immediately and will stay in place until the conclusion of …...
The fifth richest Bitcoin (BTC) whale has moved a staggering $6 billion worth of BTC to three new addresses over the weekend. Key highlights: Blockchain analytics firm Arkham’s data shows that 94,500 BTC ($6.05 billion) funded the address in 2019 and left it dormant until the recent transfer. Initially, they split the funds into two …...
The U.S. Securities and Exchange Commission (SEC) will reportedly seek $2 billion in fines and penalties from Ripple Labs, according to Stuart Alderoty, the company’s chief legal officer. In a tweet on X, Alderoty stated that Ripple will respond to the SEC’s proposal next month. Alderoty also accused the regulator of making false and misleading …...
The FTX bankruptcy estate has reached an agreement to sell the majority of its shares in Anthropic. The sale is to a group of 24 institutional investors for a total of $884 million. The sale marks a significant step forward in FTX’s efforts to repay its customers, who lost funds when the cryptocurrency exchange collapsed …...
The London Stock Exchange (LSE) has disclosed plans to introduce a market for exchange-traded notes (ETNs) based on Bitcoin (BTC) and Ethereum (ETH) on May 28, 2024. This announcement follows the LSE’s previous notice on March 11, 2024, which stated that the exchange would accept applications for admission to trading of Bitcoin and Ethereum Crypto …...
CommEx, the cryptocurrency exchange that took over the Russian business of Binance in September 2023, has officially announced its decision to wind down operations. It has also immediately halted deposits on its platform. The announcement comes as Binance faces increasing regulatory scrutiny worldwide, with the Philippines recently blocking local user access to the exchange due …...
The Securities and Exchange Commission (SEC) of the Philippines has decided to block local user access to cryptocurrency exchange Binance. The move comes in response to concerns over the firm’s unlicensed operations in the country. The SEC alleged that this poses a threat to the security of Filipino investors’ funds. Key points: Read more: Spot …...
Spot Bitcoin exchange-traded funds (ETFs) have reached a new milestone this week. However, it’s not one that crypto traders are likely to enjoy. For the first time since their inception, these ETFs have experienced five consecutive days of net outflows, surpassing the previous record of a four-day streak set in January of this year. Key …...
The European Union is set to implement new anti-money laundering (AML) and counter-terrorism financing laws that will significantly impact the cryptocurrency market. A majority of the EU Parliament’s lead committees have approved a ban on anonymous crypto transactions of any value made through hosted or custodial crypto wallets offered by third-party service providers, such as …...
A report by a United Nations panel of experts has shed light on the extent to which North Korea relies on cryptocurrency and other malicious cyber activities to generate foreign currency revenue and fund its weapons programs. The panel under the UN Security Council’s (UNSC) sanctions committee on North Korea released the report on Wednesday. …...
Coinbase, one of the world’s leading cryptocurrency exchanges, has announced its intention to launch cash-settled futures contract products for Dogecoin (DOGE), Litecoin (LTC), and Bitcoin Cash (BCH) as early as April 1, 2024. In a series of letters addressed to the United States Commodity Futures Trading Commission (CFTC) on March 7, Coinbase Derivatives outlined its …...
The U.S. Securities and Exchange Commission (SEC) has reportedly initiated a legal campaign to classify Ethereum, the world’s second-largest cryptocurrency, as a security. According to a Fortune report, U.S. companies that have received subpoenas related to the investigation believe the SEC’s actions are delivering a significant setback to the crypto industry’s hopes for the approval …...
A Montenegro appeals court has denied Terraform Labs founder Do Kwon’s bid to overturn a previous ruling that approved his extradition to South Korea. Released on Wednesday, the official notice confirms that Kwon will now face criminal charges in his home country related to the collapse of his multi-billion-dollar Terra-LUNA ecosystem. Key points: Read more: …...
The Ethereum Foundation, a Swiss non-profit organization that plays a central role in the Ethereum ecosystem, has disclosed that it is currently the subject of an investigation by an undisclosed state authority. According to CoinDesk, on February 26, 2024, a commit on the organization’s website’s GitHub repository made the information public. The message stated that …...
Robinhood has announced the global release of its crypto wallet to all eligible Android users. The launch follows the successful introduction of Robinhood Wallet in 2023, which has already been downloaded hundreds of thousands of times across more than 140 countries. Key points: Johann Kerbrat, GM of Robinhood Crypto, emphasized the significance of the Android …...
Apple co-founder Steve Wozniak has prevailed in the latest round of his legal battle against YouTube. The legal dispute was regarding deepfake videos showcasing his appearance in a Bitcoin scam in 2020. According to Bloomberg, the San Jose appeals court overturned a lower court’s decision that had previously acquitted YouTube of any responsibility in the …...
In a letter submitted to District Judge Lewis Kaplan on Tuesday, defense team of Sam Bankman-Fried opposed the Department of Justice’s (DOJ) recent sentencing memorandum. The DOJ recommended a prison term of 40 to 50 years for the FTX founder. The defense argued that the government’s proposal was unjust and painted an inaccurate picture of …...
Ledger, a prominent manufacturer of crypto hardware wallets, has disclosed to CNBC that its much-awaited Ledger Stax will be available to the public in May. The iPod’s creator, Tony Fadell, created the sleek, credit card-sized Stax. Despite facing several challenges, including shipment delays due to issues with the E-ink display and production bottlenecks, Ledger CEO …...
Genesis has agreed to pay a civil penalty of $21 million and submit to a permanent injunction as part of a settlement with the U.S. Securities and Exchange Commission (SEC). According to a recent press release, the settlement resolves charges that Genesis engaged in the unregistered offer and sale of securities through its crypto asset …...
MicroStrategy has announced another substantial purchase of Bitcoin. According to a tweet by the company’s former CEO, Michael Saylor, MicroStrategy has purchased an additional 9,245 BTC for approximately $623 million. According to the details, the company utilized proceeds from convertible notes and excess cash. The average purchase price for this latest acquisition stands at around …...
In a recent development, a Nigerian court has directed cryptocurrency exchange Binance to furnish the nation’s Economic and Financial Crimes Commission (EFCC) with detailed information on all Nigerian users trading on its platform. Justice Emeka Nwite from the Abuja Division of the Federal High Court issued the interim order. Also, this comes in response to …...
Worldcoin has recently issued a statement addressing its operations and compliance in light of growing legal uncertainty in Spain. In a blog post titled “Essential facts about Worldcoin,” published on March 18, the project provided key information about its practices, rules, and regulations. Key highlights: Read more: Standard Chartered Bullish On Bitcoin, Raises Price Forecast …...
In a recent investment note, Standard Chartered Bank significantly increased its year-end price forecast for Bitcoin (BTC) from $100,000 to $150,000. The bank’s analysts, under the direction of Geoffrey Kendrick, have also forecast that BTC could reach a cyclical high of $250,000 in 2025 before falling to around $200,000. Key highlights: The bank’s bullish outlook …...
The likelihood of a spot Ethereum exchange-traded fund (ETF) receiving approval from the U.S. Securities and Exchange Commission (SEC) by the end of May has significantly decreased, according to prediction markets and industry analysts. Polymarket, a decentralized prediction market platform, currently estimates the chances of approval at 23%. This is a sharp decline from the …...
In a sentencing memo filed on Friday, federal prosecutors recommended that Sam Bankman-Fried be sentenced to a minimum of 40 years and a maximum of 50 years in prison. The Department of Justice’s Southern District of New York office argued that the severe sanction is necessary due to the gravity of Bankman-Fried’s crimes. These include …...
The Dutch central bank, De Nederlandsche Bank (DNB), has announced that it has imposed a substantial fine of 2.85 million euros ($3.12 million) on Foris DAX MT Limited (DAX MT). It is the company behind the well-known cryptocurrency exchange, Crypto.com. The penalty was issued last October. It stems from the platform’s failure to register with …...
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has reported that financial institutions have flagged $165 million in potential cryptocurrency transactions that may be connected to the Palestinian militant group Hamas. According to the WSJ, in a letter that he signed, Deputy Treasury Secretary Adewale Adeyemo disclosed the findings. The findings were based on …...
In a blog post on March 13, leading cryptocurrency exchange Binance shed light on its substantial cooperation with Nigerian authorities. This is in response to the recent turmoil surrounding its operations in the country. The exchange’s disclosure comes amidst allegations of currency manipulation and calls for a ban on crypto exchanges by the Nigerian government. …...
Ethereum, the world’s second-largest blockchain network, has successfully implemented a significant software upgrade aimed at reducing costs for users of its ecosystem. The Dencun upgrade is expected to have a profound impact on the end-user experience and drive the development of new applications and free services. Key highlights: Read more: Crypto Mixing Service Bitcoin Fog …...
A Washington federal court jury has found Roman Sterlingov, 35, the founder of crypto mixing service Bitcoin Fog, guilty of money laundering. Key Points: According to Bloomberg, Sterlingov helped to launder tens of millions of dollars from darknet markets known for selling illegal drugs. Read more: EU Parliament Approves Stricter Rules To Combat Sanctions Including …...
The EU Parliament has taken a significant step towards cracking down on sanctions violations with new legislation. These include those facilitated through cryptocurrencies by the approval of a new set of rules on Tuesday. The move comes in response to growing concerns over the circumvention of EU financial sanctions on Russia following its invasion of …...
VanEck has announced that it will temporarily waive the fee for its spot Bitcoin ETF, HODL, until March 31, 2025. The decision, announced via X, comes as VanEck’s fund trails behind its competitors in terms of assets under management (AUM). Key points: Read more: MicroStrategy’s Michael Saylor Predicts Bitcoin To “Eat Gold” VanEck has expressed …...
MicroStrategy executive chairman Michael Saylor boldly predicted Bitcoin dethroning gold as a store of value asset during a CNBC interview Monday. His comments came on the heels of the firm disclosing purchases of about 12,000 additional Bitcoin. Key details: Read more: MicroStrategy Buys 12,000 Bitcoin For $821 Million As BTC Hits $72,000 Appearing on CNBC, …...
Leading stablecoin operator Tether announced a collaboration with smart contract platform Celo. The collaboration will bring USDT to the network’s fast, inexpensive blockchain framework. Key details: Announced on March 11th, the strategic partnership will allow seamless USDT transfers and transactions via Celo’s EVM-compatible blockchain framework. Tether highlighted the alignment with Celo’s mission of reaching mainstream …...
Business intelligence firm MicroStrategy has capitalized on its latest convertible debt offering to accumulate roughly 12,000 additional Bitcoin worth over $821 million. The purchase expands the company’s existing BTC portfolio to approximately 205,000 BTC bought for $6.91 billion. Key details: Read more: Coinbase Report Urges Caution On Emerging Crypto AI Sector MicroStrategy announced the purchases …...
A new report from Coinbase suggests the recent hype and growth around cryptocurrencies related to artificial intelligence may ultimately prove unsustainable long-term without additional progress. The analysis strikes a note of current market enthusiasm, pushing many AI tokens notably higher. Key details: Despite the recent euphoria where crypto assets linked to AI have left Bitcoin, …...
American prosecutors vowed Thursday to continue efforts towards extraditing embattled cryptocurrency entrepreneur Do Kwon. This comes even as a Montenegro court cleared the way for his likely return to his native South Korea instead. Key details: In a statement shared by Bloomberg, the U.S. Department of Justice said it will proceed with Kwon’s extradition case …...
In testimony before the Senate Banking Committee Thursday, Federal Reserve Chairman Jerome Powell firmly rejected notions that adoption of a central bank digital currency (CBDC) by the U.S. is imminent. Powell also mentioned that it is not even actively under consideration at this point. His remarks come amidst a growing conservative political backlash against a …...
Do Kwon, the embattled co-founder of the failed crypto project Terraform Labs, will likely be extradited to South Korea. This is following the completion of a four-month sentence in Montenegro for falsified document charges. The revelation is according to the statement of Kwon’s attorney after a Montenegro high court ruling on Thursday. Key details: Read …...
Nigeria’s Securities and Exchange Commission (SEC) is moving to update its guidelines around cryptocurrencies to prevent criminals from participating in capital markets, according to local reports this week. The push comes amidst ongoing turbulence in Nigeria’s crypto sector regulation and signals intent to exert stronger control. Key details: Read more: Bitcoin Fever Grips South Korea …...
A key indicator of retail investor enthusiasm for Bitcoin in South Korea has climbed to heights not seen in over two years this week. The “Kimchi Premium,” referring to the gap between Bitcoin prices on South Korean crypto exchanges compared to global exchanges, rose to 10.32% on March 1st, according to data firm CryptoQuant. This …...
Spain’s data protection regulator, the Spanish Agency for Data Protection (AEPD), has issued an order requiring Worldcoin to cease collecting and processing personal information within the country. According to the Financial Times, the regulator has given the Sam Altman-backed cryptocurrency project a 72-hour window to abide by its requirements. Additionally, the AEPD’s decision mandates that …...
The Arizona State Senate is currently reviewing a Bitcoin ETF proposal related to the investment portfolios of the Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS). The proposal suggests that these retirement systems evaluate the potential inclusion of Bitcoin ETFs in their investment strategies. The bill, which passed the Senate’s …...
A recent court deposition has shed light on the impact of the Securities and Exchange Commission’s (SEC) lawsuit against crypto exchange Binance.US in June 2023. Christopher Blodgett, a Binance.US executive, testified that the company experienced a 75% loss in revenue and was forced to lay off 200 employees, which is two-thirds of its workforce. Key …...
Konstantin Ignatov, the brother of the fugitive “Cryptoqueen” Ruja Ignatova, has been freed after being sentenced to the 34 months he had already spent in jail for his involvement in the $4 billion OneCoin cryptocurrency fraud. U.S. District Judge Edgardo Ramos in Manhattan freed Ignatov on Tuesday, according to a report by Bloomberg. The judge …...
The U.S. Securities and Exchange Commission (SEC) has issued a cease-and-desist order against ShapeShift. The cryptocurrency exchange was previously headquartered in Denver, Colorado. The SEC alleged that the company operated as an unregistered dealer for cryptocurrencies that were considered securities before 2021. Key points: Read more: Nexo Secures Initial Approval From Dubai’s VARA ShapeShift has …...
Nexo, a prominent digital assets institution, has announced that its Dubai-based entity, Nexo DWTC, has been granted an Initial Approval (IA) by Dubai’s Virtual Assets Regulatory Authority (VARA). The approval covers virtual asset lending and borrowing, management and investment, and broker-dealer activities. It positions Nexo as one of the first digital asset lending institutions to …...
Bitcoin has achieved a new milestone by surpassing its previous all-time high of $69,000. The historic moment occurred today and marked the end of an 827-day journey for BTC to reclaim its former peak. Since hitting a low of around $15,000 in the last quarter of 2022, Bitcoin has appreciated by approximately 360%. In 2024 …...
On March 5, 2024, the Court of Appeal of Montenegro decided to accept Do Kwon and his defense attorneys’ appeal. The court has annulled the decision of the High Court in Podgorica, which had previously allowed Kwon’s extradition to the United States. The decision to overturn the High Court’s ruling comes after the Appellate Court …...
The BRICS nations, consisting of Brazil, Russia, India, China, and South Africa, have announced their intention to create an independent payment system based on crypto and blockchain technology. According to Kremlin aide Yury Ushakov, the primary goal of this initiative is to provide a convenient, cost-effective, and politically neutral platform for governments, businesses, and individuals …...
Terraform Labs submitted a filing on Monday to address the SEC’s opposition to the company’s request to engage Dentons U.S. LLC as special counsel in its current Chapter 11 bankruptcy proceedings. The company called the SEC’s attempts to block its ability to pay legal fees a “troubling example of government overreach” designed to hinder its …...
Nigeria has reportedly demanded cryptocurrency exchange Binance pay $10 billion amid alleged illegal transactions that harmed the country’s economy. The claim comes amid an ongoing crackdown and investigation into the trading platform. Key Context: A government adviser told the BBC on Friday that Nigeria is demanding the massive penalty due to Binance’s unauthorized operations, including …...
A group of state attorneys general filed a court brief Thursday arguing that the U.S. Securities and Exchange Commission (SEC) has exceeded its powers by suing crypto exchange Kraken. Key Points: The state law officials from Montana, Arkansas, Iowa, and five other states said the SEC’s action risks harming consumers and contradicts precedents on when …...
Crypto related crime continues to evolve based on the environment. Darknet marketplaces and sanctions evasion are seeing increases even as overall volumes declined last year, according to blockchain analysis firm Chainalysis. Key Trends: In its annual crypto crime report released Thursday, Chainalysis said darknet market revenue jumped last year after the previous dominant player, Hydra, …...
The United States government transferred over $952 million worth of previously seized Bitcoin on Wednesday, the same day the cryptocurrency rose past $63,000. According to the data from Arkham, the transfers occurred in four transactions. The first transaction was 1 BTC, followed by 2,817 BTC, 0.01 BTC, and 12,267 BTC. Key Points: The test transfers …...
The U.S. Securities and Exchange Commission (SEC) argued this week that crypto firm Terraform Labs should have restrictions placed on its ability to pay legal costs during its ongoing bankruptcy case. The regulator took a specific aim at a $166 million retainer payment to law firm Dentons, according to Reuters. Key Points: Read more: Gemini …...
Cryptocurrency exchange Gemini has committed to returning at least $1.1 billion to customers affected by the failure of its Gemini Earn lending program. The New York State Department of Financial Services (DFS) announced the settlement details. Key Points: Gemini launched Earn in 2021, allowing users to loan their crypto holdings to Genesis Global Capital. However, …...
The government of Nigeria has detained two senior executives from the cryptocurrency exchange Binance. This move comes as the country seeks to rein in speculation on the naira currency. The arrests come amid a broader crackdown on crypto trading platforms in Africa’s most populous nation, according to the Financial Times. Key Points: Read more: Nigeria …...
Senator Elizabeth Warren said in an interview Tuesday that she is willing to work with the crypto industry. However, she believes it must follow the same anti-money laundering rules and regulations as traditional financial institutions. “I want to collaborate with the industry. What I don’t understand is why the industry seems to be saying that …...
Telegram CEO Pavel Durov announced Wednesday that, starting next month, the popular messaging platform will open up monetization for its broadcast channels. The new monetization scheme will allow content creators to earn revenue shares. In a post on his channel, Durov said channel owners can claim 50% of ad earnings generated from their content being …...
Lawyers for FTX founder Sam Bankman-Fried urged a federal judge to impose a prison sentence of just 6.5 years. The proposed prison time is just a fraction of the maximum 20 years possible for fraud counts related to the crypto exchange’s collapse. In a 98-page sentencing memo, attorneys argued the 31-year-old’s previous philanthropy and commitment …...
Ilya Lichtenstein, who pleaded guilty last year to laundering billions stolen from crypto exchange Bitfinex, testified Tuesday on how he gained prolonged access to Bitfinex and looted user funds undetected for months. Appearing as a cooperating witness in a money laundering trial in Washington, Lichtenstein mapped out the 2016 attack. The attack ranks as one …...
Tether CEO Paolo Ardoino predicted growing integration between Bitcoin and mainstream finance on Tuesday. Additionally, Ardoino cited rising interest from hedge funds, pension funds, and corporations in adding the cryptocurrency to their portfolios and balance sheets. Speaking during a Bitfinex livestream event, Ardoino said he expects fund managers will look to allocate up to 5% …...
The Ethereum Foundation confirmed Tuesday that the long-anticipated Dencun network upgrade has successfully completed all testing phases. The announcement also stated that it will officially launch on the Ethereum mainnet at epoch 269568 on March 13th. Dencun’s mainnet activation will occur at approximately 13:55 UTC next month. Additionally, the upgrade will introduce key scaling improvements …...
Despite his conviction for fraud last December, Sam Bankman-Fried continues to wage legal battles on multiple fronts to save himself from life imprisonment. The 31-year-old former FTX CEO has hired ex-Trump lawyer Marc Mukasey ahead of a crucial sentencing memo, according to The New York Times. The memo will argue that he deserves minimal jail …...
Investment banking firm Benchmark initiated coverage of business intelligence firm MicroStrategy on Tuesday, publishing a ‘buy’ rating and a 2025 share price target of $990. The bold MicroStrategy forecast centers on an assumed future appreciation of the company’s sizable Bitcoin holdings. The analysts expect the BTC stash to swell on factors like SEC spot ETF …...
Republican lawmakers have put forward fresh legislation aimed at preventing the Federal Reserve from developing a central bank digital currency (CBDC) over privacy concerns. On Monday, Senator Ted Cruz (R-TX) filed the “CBDC Anti-Surveillance State Act” along with four other GOP senators. The bill seeks to clarify that the Fed lacks authority to create a …...
Terra founder Do Kwon will likely miss at least the beginning of a U.S. civil fraud trial slated to kick off on March 25th, according to his attorney. The delay stems from ongoing extradition proceedings in Montenegro, according to Reuters. Kwon faces charges from both the Securities and Exchange Commission (SEC) as well as criminal …...
Ethereum (ETH) has rallied 33% year-to-date, handily outpacing Bitcoin’s gain. Beyond speculative demand for a spot ETF, other catalysts appear to be driving the outperformance. In their latest research note, analysts at Bernstein cite Ethereum’s deflationary tokenomics as a key driver of ETH’s robust appreciation this year. Additionally, swelling amounts of ETH deposits into staking …...
Crypto investment products saw inflows totaling $598 million last week. This marks the fourth straight week of positive flows, according to the latest report from CoinShares. So far, year-to-date, crypto fund inflows have exceeded $5.7 billion, representing 55% of the record 2021 intake. Earlier this week, assets under management hit $68.3 billion, the highest level …...
Business intelligence firm MicroStrategy has purchased an additional 3,000 Bitcoin for approximately $155 million, company former CEO Michael Saylor announced Monday. The purchase was made at an average price of $51,813 per Bitcoin. Additionally, this latest acquisition brings MicroStrategy’s total Bitcoin holdings to 193,000 BTC, purchased for $5.978 billion at an average price of $31,464.74 …...
Cryptocurrency exchange BitForex suffered an abrupt service outage this week following the withdrawal of approximately $56.5 million worth of crypto assets from company wallets. The platform has provided no explanation, while users across social media report account lockouts. According to on-chain analyst ZachXBT, blockchain data indicates significant funds were being withdrew from BitForex less than …...
The official X account of software intelligence company MicroStrategy fell victim to an apparent hack on Monday morning. Attackers accessed the profile to share phishing links that security experts estimate drained over $440,000 in cryptocurrency from deceived users. According to crypto personality Spreek, unauthorized messages appeared on MicroStrategy’s 196,000+ X account urging users to visit …...
Worldcoin (WLD) has surged over 300% in the past month, reaching an all-time high valuation above $1.1 billion at press time. The speculative frenzy follows the launch of OpenAI avatar generator Sora amidst hype around CEO Sam Altman’s expanding AI empire. In the past 24 hours, WLD traded near $8.87 and increased by almost 40% …...
Nigeria has ordered internet service providers to restrict access to top crypto exchanges, including Binance, Coinbase, and Kraken, according to the FT. The move represents a stark shift amidst the country’s expanding embrace of digital asset adoption and proposed market regulation. According to the FT report, Nigeria’s telecommunications overseer instructed ISPs to begin blocking major …...
The entry of Ethereum exchange-traded funds (ETFs) in America could overly concentrate validation power, warns S&P Global Ratings. In a recent report, analysts cautioned that massive asset managers selecting centralized staking services may undermine Ethereum’s core decentralization outlook. S&P predicts the Securities and Exchange Commission could greenlight spot-based ETH funds this quarter as the first …...
A court in Montenegro has approved the extradition of embattled cryptocurrency entrepreneur Do Kwon to the United States rather than his native South Korea. According to a recent report by local news outlet Pobjeda, American prosecutors have charged Kwon with financial crimes related to the collapse of his Terra ecosystem. Montenegro’s High Court announced that …...
MicroStrategy founder Michael Saylor declared that he intends to just “keep buying the top forever” when it comes to Bitcoin in an interview Tuesday with Bloomberg TV. The enterprise software firm’s outspoken leader argued that BTC itself represents the ultimate portfolio escape hatch. When asked about potentially taking profits on MicroStrategy’s 190,000+ BTC stash, Saylor …...
The price of Ethereum (ETH) crossed the key $3,000 threshold on Tuesday for the first time since April 2022. ETH now sits up over almost 12% across the past week and 26% in the last fourteen days. Ethereum rallies in anticipation of ETH ETF approval The altcoin rally intensifies speculation that a long-awaited U.S. regulatory …...
Crypto investment products experienced a record $2.45 billion of inflows last week. This has pushed year-to-date inflows above $5.2 billion, according to the latest industry report by CoinShares. The notable inflow came almost exclusively from U.S. investors piling into spot crypto ETFs amid swelling enthusiasm. The U.S. grabbed a 99% share of last week’s inflows, …...
Digital banking app Revolut is developing a standalone crypto exchange targeting sophisticated traders, according to an email seen by CoinDesk. The new exchange platform will provide advanced analytics, reduced trading fees, and custom order capabilities beyond Revolut’s existing crypto services. The email indicated users could expect trading fees between 0-0.09% to buy and sell crypto …...
Jupiter Asset Management’s compliance division recently blocked one of its funds from retaining exposure to an XRP exchange-traded product (ETP). The compliance team highlighted inconsistent EU regulation, according to a report by FT. The incident demonstrates how divergent national rules create confusion for managers exploring crypto participation. Read more: U.S. Authorities Can Control Tether (USDT): …...
Financial services giant JPMorgan released a report asserting that U.S. authorities retain power to indirectly influence major stablecoin Tether despite its overseas base. The bank’s analysts argue Tether remains vulnerable given its heavy reliance on the American market. Specifically, JPMorgan notes that the Treasury Department’s sanctions arm, known as the Office of Foreign Assets Control …...
Blockchain analytics firm Chainalysis published its annual crypto crime report this week. Chainalysis highlights shifting crypto money laundering techniques amongst cybercriminals. While overall funds moving from illicit wallets dropped, Chainalysis warns top hackers are spreading activity across more service accounts and utilizing advanced on-chain maneuvers. The report estimates that $22.2 billion in crypto funds were …...
Popular YouTube personality KSI has come under fire from crypto investigators for alleged crypto pump-and-dump schemes. Critics highlighted social media posts touting certain crypto projects shortly before KSI sold hundreds of thousands of associated tokens. KSI recently reopened his dormant X crypto account, boasting 372,000 followers. Crypto sleuth “ZachXBT” quickly responded to KSI’s tweet that …...
A serious security vulnerability has been discovered in the iOS version of the Binance Trust Wallet. The flaw allowed attackers to generate wallet passwords and steal user funds, according to a notice in the U.S. National Institute of Standards and Technology’s (NIST) vulnerability database. The NIST database lists major cybersecurity weaknesses with the potential to …...
Shares of cryptocurrency exchange Coinbase have surged nearly 27% over the past five days. Additionally, the rally comes as the exchange is set to release its fourth-quarter earnings results on Thursday. The stock surge aligns with a recent Bitcoin price spike as analysts forecast strong trading volume and revenue growth numbers from the company. According …...
Cryptocurrency project DEBT Box is urging a federal judge to deny the Securities and Exchange Commission’s (SEC) request to dismiss fraud charges. DEBT Box asserted the motion aims to help the SEC cover up misconduct in initially obtaining a court asset freeze. The SEC sued DEBT Box in August 2023 over allegedly unregistered securities offerings. …...
An Australian Federal Police (AFP) officer has been accused of stealing over 81.616 Bitcoin from an online drug trafficking investigation in 2019. According to an Australian news media report, William Wheatley appeared in court this week, contesting allegations of theft and dealing in the proceeds of crime. According to court documents, Wheatley allegedly moved 81.616 …...
The price of Bitcoin popped above the key $51,000 level recently, gaining nearly 3.5% over the last 24 hours. The ascent builds on Bitcoin’s over 20% appreciation in the last seven days. According to market data from Coinglass, over $139 million worth of cryptocurrency short positions were wiped out across exchanges in the last day. …...
The U.S. Department of the Treasury released a report detailing an increase in the use of cryptocurrencies to facilitate human trafficking and child sexual exploitation from 2020 to 2021. The Financial Crimes Enforcement Network (FinCEN) analysis found over $412 million worth of suspicious activity across more than 2,311 government filings related to such crimes. According …...
Robinhood reported its fourth-quarter 2023 earnings on Tuesday. The revenue beats expectations on the back of increased crypto trading volume. The company’s crypto transaction revenue rose 10% year-over-year to $43 million. The earnings release showed Robinhood’s total transaction-based revenue grew 8% annually, fueled primarily by crypto trading gains. Overall revenue hit $471 million, surpassing average …...
The Blockchain Association has sent a letter to Congress signed by over 80 former military and national security professionals raising concerns over new crypto bills under consideration. The letter warns that certain legislative proposals risk severely hampering digital asset innovation in the United States. Read more: Ripple Expands US Presence With Purchase Of NY Crypto …...
Ripple has struck a deal to purchase New York trust company Standard Custody & Trust. Through the acquisition, the payment platform secured a limited purpose trust charter to expand the regulatory services it can offer clients in the US. The acquisition represents Ripple’s latest move to expand its capabilities domestically, despite legal clashes with the …...
Hardware wallet provider Ledger has announced an integration with Coinbase’s payments platform, Coinbase Pay. The collaboration will allow users to easily purchase cryptocurrencies and transfer them into self-custody storage. Key Highlights: Previously, buyers looking to move exchange-held crypto into offline Ledger storage faced a clumsy process with potential friction points, according to the company. Read …...
Billionaire Peter Thiel’s Founders Fund has invested $200 million in Bitcoin and Ethereum over recent months, according to sources cited by Reuters. Key Details: The investment, made between late summer and early fall last year, was split evenly between Bitcoin and Ethereum. It represents a comeback for Founders Fund into crypto investing after the firm …...
The sentencing of Changpeng Zhao, founder of crypto exchange Binance, on money laundering charges has been pushed back two months to April 30th, according to a court notice filed Monday. No specific reason was provided for the delay. Zhao, better known by his initials “CZ,” pleaded guilty last November to violating U.S. anti-money laundering laws. …...
The defunct FTX crypto exchange is offloading one of its recently acquired business units for a tiny fraction of what it originally paid. According to court documents filed this week, Digital Currency Custody Inc. (DCI) will be sold to token platform CoinList for only $500,000. FTX had purchased the custodial services provider in August 2022 …...
Crypto funds attracted over $1.1 billion in fresh investments last week, pushing year-to-date inflows to $2.7 billion, according to the latest report from CoinShares. Total assets under management (AuM) also recovered to $59 billion, the highest level since early 2022. Key Details: The main driver behind these inflows has been the newly issued spot-based Bitcoin …...
According to on-chain data firm CryptoQuant, Bitcoin could increase to as high as $112,000 this year. The company’s CEO forecasts Bitcoin returning above $55,000 in the months ahead as capital continues pouring into the spot ETF market. Key Takeaways: CryptoQuant CEO Ki Young Ju highlighted data showing spot Bitcoin ETFs have already amassed monthly inflows …...
New polling reveals strong backing for crypto assets and blockchain technology among California voters, especially younger demographics hungry for financial system reform. On behalf of Coinbase, the research firm Toluna conducted a survey of cryptocurrency owners in the state. Additionally, it shows that the younger generation in the state wants policymakers to encourage innovation to …...
NY Attorney General Letitia James announced on Friday that she is significantly expanding her lawsuit against Digital Currency Group (DCG) and its lending arm, Genesis Global Capital. According to Reuters, the NY attorney general is now seeking over $3 billion in restitution, tripling her initial estimate of investor losses. Key Details: James’ original lawsuit centered …...
Bitcoin is gaining momentum for a rally towards $48,000 in the coming days based on bullish seasonal trends and clearing key technical resistance levels this week. According to Markus Thielen, head of research at Matrixport and founder of 10x Research, Bitcoin’s breakout above $44,000 resistance has opened the door for further upside just as BTC …...
Cryptocurrency exchange Kraken has secured a Virtual Asset Service Provider (VASP) registration from the Dutch Central Bank (DNB). This will enable the company to expand its offerings to clients in the Netherlands. The registration comes as part of Kraken’s broader growth strategy across Europe. In addition to the latest DNB approval, Kraken also holds active …...
Terraform Labs co-founder Do Kwon has won another appeal against the Montenegro High Court’s decision to allow his extradition to the United States and South Korea to face charges related to the collapse of the Terra ecosystem. In a new ruling on Thursday, the Montenegro Court of Appeals revoked the High Court’s approval of the …...
Bakkt Holdings, a cryptocurrency platform launched with great fanfare in 2018 by the parent company of the New York Stock Exchange, warned on Wednesday it may not have enough capital to stay in business. In a regulatory filing, Bakkt said there is doubt over whether its available cash can sustain ongoing operations for the next …...
A group of investors slammed the National Basketball Association (NBA) with a lawsuit. According to Bloomberg, the lawsuit is tied to the league’s promotional arrangement with collapsed cryptocurrency trading platform Voyager Digital. The suit alleges the NBA acted in a “grossly negligent” fashion by greenlighting a multi-year marketing deal between Voyager and Dallas Mavericks owner …...
Ransomware attackers have surged in 2023, extorting over $1 billion in crypto payments from their victims, according to the latest report. In its most recent report, blockchain analysis company Chainalysis compiled the findings. The report shows a significant surge from a drop that occurred in 2022. Total crypto ransoms paid plunged to $457 million in …...
The highly anticipated Ethereum Dencun upgrade has passed its final test. This will likely pave the way for the blockchain to launch on the main public network next month. The upgrade was recently put through a full rehearsal on the Holesky test network, designed to mimic conditions on Ethereum’s live blockchain. In addition, the successful …...
The Fed announced on Tuesday that it has terminated a key enforcement action against Farmington State Bank. Fermington is a Washington-based community bank that was connected to the failed cryptocurrency exchange FTX. The Fed’s enforcement action, which had been in effect since July 2023, ensured that Farmington would wind down operations in an orderly manner …...
Leading cryptocurrency exchange Binance announced recently that it will delist privacy-oriented coin Monero (XMR) on February 20. Binance has become the latest platform to dump the anonymity-focused asset amidst growing global compliance crackdowns. Key details on Binance axing XMR support: In a blog explaining regular coin review processes, Binance cited “contribution to a healthy and …...
Blockchain payments company Ripple has hinted at an upcoming push into the US market that could dramatically expand adoption of its transaction solutions. The announcements come even as a legal battle with securities regulators continues to play out. Key developments stoking anticipation of Ripple’s US expansion: Read more: Solana Restarts After 5 Hours Of Outage, …...
The Solana blockchain suffered a major outage recently that prevented transactions and halted block production for nearly five hours before engineers identified and patched a core software issue. Key details on the Solana disruption: The Solana Status X account notified users that engineers were investigating an outage on Solana’s mainnet beta network starting at 10:22 …...
The Securities and Exchange Commission has bagged a win against Ripple Labs this week, gaining access to confidential corporate information as both sides prepare for the remedies phase of their landmark cryptocurrency case. Key lawsuit updates: According to court documents, Judge Sarah Netburn sided with the SEC in requesting various disclosures from Ripple. The requested …...
The latest data reveals investors piled back into crypto investment funds last week. Investors have injected $708 million amidst a prolonged market rebound. The surge brings total year-to-date inflows close to $1.6 billion, according to researcher CoinShares. Key details on the state of crypto investment fund flows: CoinShares reported positive investment flows across digital invest …...
Ethereum Name Service (ENS), the leading blockchain domain protocol, has partnered with internet domain giant GoDaddy to let owners easily link their sites to crypto wallets. The integration arrives even as a lawsuit between both parties proceeds following the sale of an ENS domain. Key details on ENS and GoDaddy’s new tie-up: Under the new …...
Cryptocurrency exchange Binance moved swiftly to dismiss privacy fears over the weekend after reports surfaced that extensive customer KYC documents were being freely distributed through hacker channels on the dark web and GitHub. The exchange says it investigated but found no evidence that any internal systems were breached. Key details: Read more: SEC Charges Crypto …...
The U.S. Securities and Exchange Commission (SEC) charged crypto trader Brian Sewell and his firm Rockwell Capital Management with fraudulently soliciting $1.2 million from students under false pretenses and losing the money to hackers. Key details of the SEC complaint: According to the SEC complaint, Sewell touted robust artificial intelligence and crypto trading technologies to …...
Cryptocurrency exchange Binance has helped secure over $4.2 million worth of XRP tied to the recent hack of Ripple co-founder Chris Larsen’s personal crypto accounts. The exchange also stated they are supporting law enforcement’s ongoing investigation. Highlights: On February 1st, word spread that Chris Larsen, a Ripple executive, had several private XRP wallets compromised, resulting …...
Polygon Labs, the core developer behind leading Ethereum scaling solution Polygon, laid off 19% of staff this week. The moves come as part of a restructuring aimed at focusing Polygon Labs on critical network development. Key changes at Polygon Labs: In a blog post announcing the changes, the firm’s CEO Marc Boiron cited a need …...
Binance, the world’s largest cryptocurrency exchange, is facing significant obstacles in its efforts to re-establish operations in the UK market. The struggles are primarily due to continued regulatory reluctance to engage with the platform. Key points: According to Bloomberg, Binance has pitched multiple UK firms for these mandated communications partnerships in recent months. Read more: …...
Embattled cryptocurrency lending platform Celsius Network formally emerged from bankruptcy this week. As part of its court-approved resolution, Celsius will distribute over $3 billion to creditors. Additionally, they plan to launch a new Bitcoin mining firm before moving to wind down its remaining operations. Key details on the firm’s winding down and exit from bankruptcy: …...
The fallout from the shocking implosion of cryptocurrency exchange FTX continues, as lawyers for the bankrupt firm updated proceedings Thursday with promising news for affected users. According to a new court hearing, FTX believes it can make customers whole by repaying account funds lost in the crash. Meanwhile, after failing to find a buyer, plans …...
Several personal XRP accounts belonging to Ripple co-founder Chris Larsen were hacked recently, resulting in the theft of around $112 million worth of the cryptocurrency. Key details on the Ripple hack: Read more: Vitalik Buterin Reflects On Evolution Of Crypto And His Changing Role Official Ripple account remains unaffected While Ripple’s official account was not …...
In a recent blog post on his 30th birthday, Ethereum co-founder Vitalik Buterin highlighted some of the major shifts he has witnessed in the cryptocurrency community since first becoming involved over a decade ago. As one of the most prominent figures in the crypto industry, Buterin’s reflections offer valuable insights into how the industry and …...
Collapsed stablecoin developer Terraform Labs filed for Chapter 11 bankruptcy protection on January 21st. The move was partly to boost prospects of appealing its ongoing fraud lawsuit from the SEC. In a filing Tuesday, CEO Chris Amani said bankruptcy shelters could enable challenging the case without needing to post bonded assets. Key Reasons: Amani contends …...
The Ethereum network’s hotly anticipated Dencun upgrade was successfully deployed on the Sepolia test blockchain on Tuesday. Dencun represents Ethereum’s biggest functional upgrade since Merge. The code changes introduce two key features: Together, these technical improvements aim to bolster network capacity and reduce transaction costs as usage grows. The test deployment occurred on schedule Tuesday …...
German authorities recently seized over 50,000 Bitcoin worth approximately $2.16 billion that were allegedly purchased with the proceeds of an illegal copyright infringement operation dating back a decade. Law enforcement is touting the confiscation as both the largest cryptocurrency seizure in the country’s history and one of the biggest globally. Key Details: Read more: Vitalik …...
Ethereum co-founder Vitalik Buterin recently explored emerging intersections between crypto and artificial intelligence in an extensive blog post. He argued that certain applications appear to be far more robust than others currently. Buterin categorized crypto + AI opportunities into four types, ordered by viability: Most Viable High Potential Proceed Carefully Longer-Term Potential Read more: Floki …...
The developers behind meme-inspired cryptocurrency Floki Inu responded to Hong Kong regulators listing its staking program as a “suspicious” investment product, predominantly over advertised yield levels. In a Medium post, the team highlighted steps taken while disagreeing with the “extreme measure” by the Securities and Futures Commission (SFC). Actions taken so far include: Read more: …...
DeFi lending protocol Abracadabra Finance appears to have suffered a security breach, leading to over $6.4 million drained from its smart contracts. Security researchers, including PeckShield, estimate total losses may still increase, with nearly $29 million in digital assets remaining at risk across its platform. Key Details: Read more: HyperFund Founders Charged With $1.89B Crypto …...
The Department of Justice has announced criminal charges against two founders of the HyperFund crypto investment scheme, alleging the massive operation defrauded investors out of $1.89 billion. In parallel civil charges, the SEC accused HyperFund leaders of running an illegal pyramid scheme and falsely promising high yields from crypto mining revenues that didn’t exist. Key …...
Crypto funds recorded net outflows globally last week totaling $500 million, according to the latest analysis from CoinShares. Outflows are centered on the U.S., Switzerland, and Germany. Key Takeaways: The report cites recent crypto price declines driving investor hesitation alongside institutional redemptions from Grayscale’s market-leading Bitcoin Trust (GBTC) vehicle. It has dropped $5 billion since …...
Amazon’s MGM Studios is reportedly in early development on a feature film dramatizing the story of Ilya Lichtenstein and Heather Morgan’s role in laundering billions worth of Bitcoin stolen in the 2016 Bitfinex exchange hack. According to a report by Deadline, the movie titled “Razzlekhan” will adapt a 2022 New York Times article dubbing the …...
Investment bank TD Cowen has pushed back its predicted timeline for U.S. approval of a spot Ethereum exchange-traded fund (ETF) until late 2025 at the earliest. Key Predictions: The updated analyst view casts doubt on whether any spot Ethereum funds get regulatory blessings this cycle. Despite over half a dozen ETF applications awaiting verdicts, delays …...
A recent survey by crypto exchange Binance reveals the widening integration of cryptocurrencies into European finance and society. The report shows that over half of respondents utilize them for routine purchases. Key Findings: While factors like the FTX fallout discouraged some last winter, positive catalysts in 2024 like SEC Spot ETF approvals and crypto sponsorship …...
Blockchain security firm PeckShield has released its 2023 analysis of major crypto hacks, scams, and stolen funds flowing from criminal exploits. Per the report’s findings: The $2.61 billion cumulative figure covers both outright crypto asset theft from hacks as well as losses to scams and fraud schemes. Notably, the amount recovered over a quarter billion …...
A British resident has agreed to forfeit over $340 million worth of Bitcoin (8,100+ BTC) as part of a plea agreement related to selling illegal drugs via dark web marketplaces. U.S. authorities stated the voluntary surrender likely comprises the Drug Enforcement Agency’s biggest ever cryptocurrency seizure, according to a recent report by The Washington Post. …...
Soccer legend Cristiano Ronaldo recently hosted several NFT holders for a friendly match. Through his collaboration with cryptocurrency exchange Binance to offer exclusive access, the most recent video from Binance delivers on its promises. This latest video comes at a time when he is facing an ongoing lawsuit in Florida alleging illegal promotion of securities. …...
Worldcoin, the crypto startup aiming to give every human a digital identity, plans to release a redesigned version of its controversial Orb iris scanning device in the first half of 2024. Co-founder Alex Blania revealed to TechCrunch that the next model will shift to a more subdued look and multiple colors to appear friendlier and …...
Ethereum developers have announced the scheduling for the Dencun network upgrade’s final test runs on the Sepolia and Goerli test blockchains ahead of implementation on the Ethereum mainnet itself. Dencun represents the most significant Ethereum code change in over a year. The upgrade will introduce key features to boost scalability and reduce transaction costs, paving …...
A hacking group has been targeting major Mexican banks, cryptocurrency companies, and other large businesses with custom malware designed to steal banking credentials and personal authentication information. BlackBerry Research & Intelligence revealed this week that the multi-year campaign utilizes social engineering and legitimate documents to distribute remote access Trojan (RAT) tool installers, allowing the threat …...
Cryptocurrency hardware wallet maker Trezor recently detected a phishing email illegally posing as the company and contacting newsletter subscribers. Trezor managed to swiftly deactivate the malicious link sent from “noreply@trezor.io“. However, the company still cautioned users not to enter their highly sensitive recovery seeds in any forms sent via email. The hardware wallet manufacturer asked …...
Changpeng Zhao, aka CZ, founder of cryptocurrency exchange Binance, was denied permission to travel to the United Arab Emirates last month. The judge denied the request despite offering to put up his roughly $4.5 billion stake in the company as security. The details were revealed in newly released court filings related to CZ’s November guilty …...
The U.S. Securities and Exchange Commission (SEC) significantly escalated its policing of the crypto sector in 2023. The commission carried out 46 enforcement actions, representing a 53% year-over-year increase. According to a new report from litigation consulting firm Cornerstone Research, the fleet of cases targeting crypto firms and individuals was the highest annual total for …...
The Solana blockchain has implemented a major upgrade focused on expanding the functionality and compliance capabilities of tokens built on the network. Dubbed “token extensions,” the new features allow developers to hard-code special rules and controls into tokens created on Solana, including: Key Highlights: According to the Solana Foundation, a non-profit supporting the network’s growth, …...
The total value of cryptocurrencies stolen by hackers dropped drastically in 2023. According to a report by blockchain analysis firm Chainalysis, the number fell over 54% year-over-year from $3.7 billion to $1.7 billion. However, the number of individual hacking incidents ticked up from 219 in 2022 to 231 last year. The decline was largely driven …...
Cryptocurrency lending company Nexo is seeking $3 billion in damages from the Republic of Bulgaria. The move follows the government’s decision to drop a criminal investigation against the firm and its executives last month. Nexo has filed for arbitration through the World Bank’s International Centre for Settlement of Investment Disputes (ICSID), outlining its case in …...
The Financial Industry Regulatory Authority (FINRA) reported this week that about 70% of crypto-related communications from a recent survey contained potentially false or misleading claims. In a report released on January 23, FINRA said it reviewed over 500 crypto asset-related retail communications starting in November 2022. The financial watchdog found that over 70% of the …...
Major investment bank JPMorgan has downgraded cryptocurrency exchange Coinbase stock from a “neutral” to an “underweight” rating. The bank predicted poor performance amidst falling crypto prices and the lackluster adoption of new spot Bitcoin exchange-traded funds (ETFs). In a note to investors on January 22nd, JPMorgan analysts argued that the recent SEC approval and launch …...
Cryptocurrency exchange OKX has announced that it will fully compensate users affected by a flash crash that occurred on January 23rd. The crash caused the price of its platform’s native OKB token to rapidly plunge from $48 to $25 in minutes. The incident was outlined by OKX in an X thread, with the exchange stating …...
The trustee overseeing defunct cryptocurrency exchange Mt. Gox is reportedly moving forward with repaying customers eight years after an infamous hack drained 850,000 Bitcoin from the exchange. Recent emails shared on the mtgoxinsolvency subreddit group to former Mt. Gox users request confirmation of identity, exchange account ownership, and other particulars essential to dispatching owed funds. …...
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) levied a new round of sanctions against financial networks, including crypto firms in Gaza associated with the militant group Hamas. Among the targets are cryptocurrency exchanges and facilitators alleged to have transferred funds and resources to Hamas. Key sanctions details per Treasury release: The fresh …...
Coinbase chief legal officer, Paul Grewal, unleashed sharp criticism on X over a recent U.S. Government Accountability Office (GAO) report highlighting cryptocurrency usage in sanctions evasion. Grewal slammed the GAO analysis as “shoddy” and failed to properly contextualize the crypto industry’s extensive compliance efforts. He also stated that the report performed zero comparative analysis. Key …...
A new report from cryptocurrency exchange Crypto.com finds global ownership of digital assets grew by 34% in 2023. The user base grew from 432 million in January to 580 million by year’s end, despite economic volatility. Bitcoin (BTC) and Ethereum (ETH) powered overall gains as the top cryptocurrencies by market capitalization. Key adoption metrics: Read …...
An investigation by blockchain security firm Blockfence has uncovered an elaborate cryptocurrency scam that defrauded more than 42,000 victims out of over $32 million. The fraud scheme involved the creation of fake cryptocurrency projects designed specifically to lure in victims and trap their funds in so-called “rug pull” exit scams. Key tactics uncovered in the …...
U.S. prosecutors on Friday announced charges against German citizen Horst Jicha for allegedly defrauding tens of thousands of investors out of more than $150 million through a crypto pyramid scheme. Jicha, founder and former CEO of USI Tech, was arrested in Miami last month and arraigned in federal court in Brooklyn on four counts, including …...
A federal appeals court ruled Friday that cryptocurrency exchange FTX must face an independent investigation by a court-appointed examiner, overturning an earlier bankruptcy court decision. The ruling from the Third Circuit Court of Appeals in Philadelphia remands the matter back to the Delaware bankruptcy court overseeing FTX’s Chapter 11 case. Key details: Read more: 50% …...
The prospects of the Securities and Exchange Commission (SEC) approving a spot Ethereum (ETH) ETF by May 23rd stand at no higher than 50%, according to analysts at investment bank JPMorgan. In a research note on January 18, a team led by managing director Nikolaos Panigirtzoglou expressed that some investors expect the SEC to classify …...
Bitcoin ETFs have exceeded silver ETFs in terms of assets under management (AUM), according to industry experts. Driven by substantial market interest, Bitcoin ETFs have quickly grown to become the second largest single commodity ETF in the country by AUM. Spot Bitcoin ETFs, including the conversion of Grayscale’s GBTC trust, now hold approximately 647,651 Bitcoin …...
Cryptocurrency users in China have adapted to under-the-radar in-person trades and encrypted messaging to keep digital asset dealing alive amid the country’s broad industry crackdown, reports the Wall Street Journal. Sources told the WSJ that Chinese crypto traders shifted trading to everyday venues like cafes and laundromats to discreetly swap wallet addresses and cash after …...
A new Chainalysis report on cryptocurrency crime trends shows an overall reduction in illicit crypto activity in 2023, though some forms of crypto-based crime are on the rise. The 2024 Crypto Crime Trends report from blockchain analysis company Chainalysis estimates that the total value received by illicit cryptocurrency addresses dropped to $24.2 billion in 2023. …...
Major stablecoin issuer Tether purchased $380 million worth of Bitcoin at the end of last quarter, its third-highest buy yet as the company continues shifting reserves into cryptocurrencies. The latest 8,888 BTC acquisition brings Tether’s total Bitcoin holdings to over 66,465, worth some $2.8 billion, according to The Block. Tether began its Bitcoin buying spree …...
Former President Donald Trump pledged, if reelected, to resist any effort by the Federal Reserve to develop a central bank digital currency (CBDC). In a Wednesday campaign speech, Trump argued that such dollar-backed virtual money risks dangerous government overreach and control over Americans’ financial lives. Trump warned the prospect of a “Fedcoin” or a digital …...
The federal judge overseeing the high-profile lawsuit alleging U.S. crypto exchange Coinbase illegally offered securities pressed the SEC lawyers with tough questions during a Wednesday court hearing. Areas covered included defining securities, the legality of staking services, and whether the regulator is overreaching its authority. Judge Katherine Polk Failla of the New York Southern District …...
Nearly $2 billion worth of Bitcoin that had been stationary for over a decade unexpectedly changed wallets this week. The reason behind the sudden transfers remains unclear, but they came on the heels of regulatory green lights for multiple-spot crypto ETFs last week. Blockchain tracker Arkham Intelligence spotted 49 addresses consolidating 49,858 BTC across just …...
Cryptocurrency exchange Gemini has secured official registration from French regulators to provide digital asset services in the country, according to CNBC. The authorization cements the growing allure of Europe as a prime destination for US crypto companies navigating stricter domestic oversight. The Paris-based regulator Autorite des marches financiers (AMF) certified Gemini to commence French operations …...
A highly anticipated trial run of the Ethereum Dencun upgrade deployed successfully on the Goerli test network on Wednesday but then failed to reach finalization as intended. The setback points to potential validation and software shortcomings ahead of deploying major network changes. Blockchain data shows the testnet upgrade was initiated around 6:32 UTC but did …...
The parents of convicted FTX founder Sam Bankman-Fried are working to defeat a lawsuit brought by the collapsed cryptocurrency exchange seeking the return of allegedly fraudulent asset transfers. Joseph Bankman and Barbara Fried have filed a motion to dismiss the FTX bankruptcy estate’s complaint against them. In September 2022, FTX targeted Bankman-Fried’s parents to recover …...
The Grayscale Bitcoin Trust (GBTC) moved an additional 9,000 Bitcoin worth over $387 million to cryptocurrency exchange Coinbase Prime on Tuesday. The trust has seen steady declines in assets under management since last week’s approval of a Bitcoin spot ETF in the US. According to blockchain intelligence firm Arkham, Grayscale executed multiple transfers of 1,000 …...
The U.S. Securities and Exchange Commission has consented to delay the civil trial against Do Kwon, co-founder of the failed stablecoin TerraUSD, to allow time for his extradition. Kwon was scheduled to face trial over allegations he violated securities laws in the wake of the $40 billion Terra ecosystem wipeout. Kwon agreed not to seek …...
The European Banking Authority (EBA) has published new guidelines extending its anti-money laundering (AML) and counter-terrorism financing (CTF) requirements to cryptocurrency companies. The rules provide guidance to crypto asset service providers (CASPs) on identifying risk exposure and effectively mitigating financial crime vulnerabilities. Per the EBA, applying unified guidance closes an oversight gap and ensures CASPs …...
Major stablecoin issuer Tether rebutted a recent United Nations (UN) report highlighting the use of its USDT stablecoin in illicit financial activity. In a blog post, Tether touted the transparency of blockchain transactions and its assistance to global law authorities while criticizing the analysis as overly narrow. The UN report centered on stablecoins, presenting money …...
The Dubai subsidiary of major cryptocurrency exchange OKX has secured a virtual asset service provider (VASP) license from regulators in Dubai, according to the details shared in the press release. The license will enable the platform to launch localized fiat currency support and spot trading pairs for United Arab Emirates dirham (AED) when it becomes …...
Securities and Exchange Commission Chair Gary Gensler elaborated on the agency’s groundbreaking move to greenlight a Bitcoin ETF in an interview with CNBC recently. Gensler said the approval stems from consideration of a new court ruling while cautioning retail investors on crypto market risks. Speaking with CNBC’s Andrew Ross Sorkin, Gensler pointed to a recent …...
The New York State Department of Financial Services (NYDFS) has reached a settlement agreement with crypto trading firm Genesis Global Trading over significant compliance violations. Genesis will pay $8 million, forfeit its state trading license, and shut down operations in New York, as the regulator shared exclusively with Fortune. The subsidiary of Digital Currency Group …...
BlackRock, the world’s largest asset manager, has come out in favor of an Ethereum ETF. The comments from CEO Larry Fink came just one day after the firm’s long-awaited Bitcoin ETF began trading. In an interview on CNBC, Fink endorsed the concept of an Ethereum investment product accessible to mainstream investors. “I see value in …...
Coinbase has announced a collaboration with the African cryptocurrency exchange Yellow Card. The collaboration aims to significantly improve access to the popular USDC stablecoin across 20 countries in Africa. The partnership will leverage Coinbase’s global infrastructure and Yellow Card’s existing presence in emerging African economies. Features launching in February are designed to make acquiring and …...
Major South Korean firms, including industry giants Samsung and Mirae Asset, have suspended brokerage services for foreign-listed spot Bitcoin ETFs. The move shared by a local news media outlet comes after the country’s financial regulator, the Financial Services Commission (FSC), issued a notice cautioning that facilitating trades of offshore spot crypto ETFs may violate existing …...
An unlucky trader recently bought nearly $9 million worth of dogwifhat (WIF), a viral meme coin on the Solana blockchain. This purchase was executed through three transactions totaling $6.25 million, $1.78 million, and $893,000. The move ended the trader with a slippage loss of over $5.7 million. Blockchain data linked to the Solana wallet address …...
Vanguard, a prominent investment management company, refrained from offering access to spot Bitcoin ETFs on the first day of their trading in the United States. This decision left Vanguard users unable to participate in the action surrounding the newly approved 11 spot funds by the Securities and Exchange Commission (SEC). Key Points: On Thursday, a …...
Approved spot Bitcoin ETFs unleashed opening-day trading volumes surpassing $2.6 billion. This signifies intense pent-up demand for regulated cryptocurrency exposure. Bitcoin surged past the $49,000 mark, a level not seen since December 2021, following the commencement of Bitcoin ETF trading. All the 11 spot ETFs began trading, and over $2.6 billion changed hands within the …...
The cryptocurrency industry has reached a significant milestone as the U.S. Securities and Exchange Commission (SEC) has officially approved all Spot Bitcoin ETFs. This groundbreaking decision comes after months of anticipation, with over a dozen firms submitting applications for the issuance of this investment product. The approval opens the door for major asset management firms, …...
In the latest high-profile X breach targeting the crypto sector, data tracking platform CoinGecko saw its primary social media account compromised this week. The hackers took control and broadcast fraudulent token sale announcements. The incident marks the second X crypto compromise in days as social engineering risks heighten across Web3 amid the swollen ranks of …...
According to Reuters, blockchain payments provider Ripple announced intentions this week to repurchase $285 million worth of employee and investor equity. The company decided to make a move as it looks like the lawsuit filed by U.S. regulators is starting to calm down after many years of uncertainty. Key Details: The tender offer arrives on …...
In a recent interview with CNBC, William Quigley, co-founder of stablecoin Tether and Worldwide Asset Exchange (WAX), shared his insights on the imminent entry of Bitcoin exchange-traded funds (ETFs) into the market. Quigley acknowledged the potential for increased prices due to growing institutional interest. However, he tempered the rising enthusiasm by pointing out potential hurdles …...
The Chicago Board Options Exchange (CBOE) has given its nod of approval for various Spot Bitcoin ETF to be listed on its exchange. This approval, however, is contingent upon the forthcoming approval from the Securities and Exchange Commission (SEC). Key Details: The official request for accelerated registration was sent by the Cboe BZX exchange to …...
A recent cyber security breach that compromised the U.S. Securities and Exchange Commission’s (SEC) X account triggered turbulence in the price of Bitcoin. The U.S. SEC’s official X account falsely announced approval for listing a spot bitcoin exchange-traded fund (ETF), igniting brief euphoria. However, the tweet emerged as a fake announcement once officials declared the …...
The massive Bitcoin pile of MicroStrategy is on the verge of clinching an unrealized profit of $3 billion as the cryptocurrency briefly surpassed $47,000. The data, as per the Saylor Tracker, reveals an unrealized profit of $2,928,147,368.20 at press time. Bitcoin experienced a surge from a 24-hour low of $46,291.51 to a high of $47,193.19, …...
The U.S. Drug Enforcement Administration (DEA) has spent three years tracking ShanghaiChemicals, an online marketplace accused of exporting fentanyl ingredients from China to fuel America’s opioid epidemic. According to Forbes, investigators now believe the shadowy operation behind the website may simultaneously defraud narcotics buyers through an elaborate crypto-powered con. Details from a recently unsealed DEA …...
Polygon unveiled the public beta launch of Verify, an open-source protocol designed to cryptographically authenticate digital media content ranging from articles to images. Verify is built on Polygon’s own blockchain and aims to counter the spread of AI-fabricated media by enabling verification of source legitimacy. Polygon shared news of the release, which is in collaboration …...
The Securities and Exchange Commission Chair, Gary Gensler, took to X to sound alarms over the rising crypto craze among retail investors. His tweet provided a link to an SEC blog post urging cautious consideration before buying the latest cryptocurrency or token. The agency’s outreach forms part of a broader investor education push to make …...
Steven McClurg, co-founder of digital asset manager Valkyrie, sat down with Fortune this week to discuss his firm’s ambitions in the Bitcoin ETF space. McClurg expressed confidence that the SEC is finally ready to approve the first spot Bitcoin ETF in the coming days, likely allowing trading to commence on Thursday. This confirmation would cap …...
North Korean hacking group Lazarus withdrew over $1.28 million worth of Bitcoin this week from an unnamed cryptocurrency mixer in its first large transfer in over a month. According to blockchain intelligence firm Arkham, the 27.371 BTC move came after the asset bounced off a 24-hour low near $43,000. The transfer was split into two …...
Securities and Exchange Commission (SEC) Chair Gary Gensler took to X recently, cautioning retail investors on lingering cryptocurrency dangers. The cautionary thread comes just as the agency nears pivotal decisions regarding pending Bitcoin ETF applications. Key Takeaways: Read more: Spot Bitcoin ETF Issuers Disclose Fees, Bitcoin Price Reacts Sowing FUD or Fair Warning Ahead of …...
According to the recent Bitcoin ETF filings, top asset managers filed amendments containing key details around eagerly anticipated spot Bitcoin ETF applications this week. The rush of revisions hits Monday’s deadline for information like sponsor fees ahead of rumored approvals. With fees lower than expected, analysts say ultra-competitive pricing could ignite a ruthless fee war …...
A prominent ETF analyst at Bloomberg this week edged Bitcoin ETF approval odds to a bullish 95%. Eric Balchunas also pushed out unlikely rejection triggers that could hinder the approval of the much-awaited spot Bitcoin ETF. Key Details: Bloomberg Bitcoin ETF analyst ramps up approval expectation Eric Balchunas conveyed a 95% possibility on X with …...
YouTuber and influencer Logan Paul pledged $2.3 million this week to repurchase CryptoZoo non-fungible tokens (NFTs) from disappointed collectors. As revealed in a tweet recently, the move comes after the metaverse game concept collapsed. Logan simultaneously filed a lawsuit targeting alleged insiders who sabotaged the project for personal benefits. The response remains mixed, with some …...
Influential former BitMEX CEO Arthur Hayes published a new market outlook this week, cautioning against the blossoming optimism behind a U.S. spot Bitcoin ETF. Hayes stated that this optimism could fuel overheating and a sharp comedown. He warned that anticipatory inflows may propel 40%+ drawdowns from potential $70,000+ peaks. Key Details: Read more: North Korean …...
North Korean state-sponsored hacking groups stole over $600 million in cryptocurrency in 2023. This accounts for almost one-third of all cyber theft proceeds, according to research published this week by TRM Labs. The figures spotlight the Democratic People’s Republic of Korea’s dominance as the world’s most prolific crypto fraud actor. Key Details: Read more: VanEck …...
Amid swelling anticipation of the first U.S. spot Bitcoin ETF approvals, investment giant VanEck this week announced commitments highlighting they are not Bitcoin tourists. The pledge features a 10-year promise to fund Bitcoin’s open-source developers alongside an initial $10,000 grant. The pledge rings familiar from VanEck’s support of Ethereum developers tied to its successful ETH …...
Criminal authorities in Taiwan arrested 14 employees of the leading cryptocurrency exchange ACE and alleged masterminds Lin Nan and Pan Nan on fraud charges totaling over $32.1 million. The company stands accused of using social media hype and misinformation to promote and list worthless “shitcoins” and extract funds from duped investors. Key Details: Read more: …...
Valkyrie has officially filed a registration of securities with the US Securities and Exchange Commission (SEC) for its Spot Bitcoin ETF. This development, coupled with similar filings from financial giants such as Fidelity, Grayscale, and VanEck, marks a potential turning point for Bitcoin ETF developments in the US. The flood of filings follows a pivotal …...
Gamma Strategies suffered an attack this week exploiting vulnerabilities in its Ethereum-based liquidity vaults to steal $3.4 million in crypto assets. The team responded by freezing deposits to stem further losses. However, in a rare move, Gamma also messaged the hacker’s wallet, seeking to negotiate a “bug bounty” for returning the stolen assets. Key Details: …...
Blockchain security platforms Blockaid and CertiK this week spotlighted escalating threats targeting Solana ecosystems from sophisticated hacking kits dubbed “wallet drainers.” These enable fraudsters to covertly drain wallets after deceiving victims into approving malicious transactions. Losses are already mounting into the hundreds of thousands of dollars. Additionally, developers are urging vigilance as threats migrate from …...
Leading decentralized exchange dYdX released a detailed post-mortem dissecting an elaborate market manipulation scheme involving token YFI’s 200%+ pump and 30% “crash” last week. The exchange traced activities across 100+ wallets to identify the likely perpetrator and assist law enforcement investigations. Key Details: Read more: ENS Token Skyrockets 50% As Vitalik Buterin Highlights Its Significance …...
A tweet from Ethereum co-founder Vitalik Buterin ignited a 50% price surge in the ENS governance token in the last few hours. Buterin called the Ethereum Name Service “super important” while advocating expanded layer-2 functionality to boost affordability and access. Key Details: Buterin argued layer-2 chains should prioritize building out support for ENS profiles to …...
Goldman Sachs has emerged as a likely key participant in the long-awaited Bitcoin ETF from heavyweights BlackRock and Grayscale. The Wall Street titan is in discussions to become an authorized participant (AP), according to information shared with CoinDesk by sources familiar with the situation. Key Details: Read more: Bloomberg Bitcoin ETF Analyst Questions Matrixport SEC …...
Eric Balchunas, Senior ETF Analyst at Bloomberg, has questioned the recent report by Matrixport that predicts the rejection of Bitcoin ETF applications by the SEC in January. Balchunas took to X to express his skepticism, stirring a wave of discussions. Key Details: Doubting the Bitcoin ETF Rejection Narrative Despite Matrixport’s assertion of an imminent rejection, …...
The SEC is widely expected to once again reject proposals for spot Bitcoin ETFs this month. This will dash hopes that 2024 will finally be the year the long-awaited product comes to market. Bitcoin spot ETFs have been hotly anticipated since the first proposals were submitted to the SEC years ago. Thus far, the SEC …...
Decentralized lender Radiant Capital became the latest DeFi protocol to fall victim to an exploit. The exploit resulted in a loss of 1,900 ETH worth approximately $4.5 million. The hack leveraged known issues in coding shared across major lending platforms. The attack came just six seconds after Radiant enabled a new stablecoin lending market. Security …...
A recent survey shows that crypto-related matters could influence the 2024 elections. People who own cryptocurrencies seem to have different preferences, even if they usually support a specific political party. The survey suggests that their party affiliation might not accurately predict how they will vote. Conducted in early December 2023 by research firms The Tarrance …...
Bill Lou, the co-founder of the crypto wallet startup called Nest, revealed in an emotional tweet that he fell victim to an airdrop impersonation scam. The phishing scam resulted in the loss of $125,000 worth of stETH. The fraud raises renewed questions about crypto’s persistent scams and security gaps, even for industry insiders. Key details: …...
Recently, Bitcoin has made a strong recovery, bouncing back and surpassing the $45,000 mark. Despite doubts from critics, this resilience has strengthened the case for supporters who believe that Bitcoin is a lasting technological and financial innovation. In an appearance recently on CNBC, Jim Cramer, the television personality and economic analyst, declared that “you can’t …...
The U.S. Department of Justice (DOJ) has opted not to pursue campaign finance charges against fallen crypto billionaire Sam Bankman-Fried (SBF). Paul Grewal, Chief Legal Officer at cryptocurrency exchange Coinbase, sharply criticized the move in a X thread. Grewal called it a “mistake” and a “miscarriage of justice,” depriving the public of important answers. This …...
Federal prosecutors will not pursue a second criminal trial against Sam Bankman-Fried, the founder of failed cryptocurrency exchange FTX, according to a letter filed in court Friday. A jury found Bankman-Fried guilty on seven counts related to fraud and money laundering in connection with the collapse of FTX and affiliated hedge fund Alameda Research. Prosecutors …...
The IRS division that spearheaded the landmark Binance investigation disclosed that nearly half its cryptocurrency probes now center on crypto tax evasion cases rather than money laundering. Key Details: Read more: OKX To Delist Privacy Coins Monero, Zcash And Dash In 2024 Tax Evasion Overtakes Money Laundering Focus Speaking Monday, Jim Lee explained that only …...
Major crypto exchange OKX announced it would delist several prominent privacy-focused cryptocurrencies, including Monero, Zcash, and Dash, in early 2024. According to the details from a recent announcement, the exchange is delisting these coins due to concerns over its listing criteria. Key Takeaways Read more: Singapore Prime Minister Warns Against Crypto Deepfake Scams No Explicit …...
Singapore Prime Minister Lee Hsien Loong warned residents on Friday not to engage with crypto deepfake videos circulating online. The deepfake video depicts him promoting cryptocurrency scams with guaranteed returns. Sophisticated AI technology is enabling fraudsters to create convincing bogus footage, Lee cautioned in his recent Facebook post. Key Details: Read more: Hacker Pink Drainer …...
A notorious crypto-hacking syndicate known as Pink Drainer was linked by investigators to a recent phishing scam that drained $4.4 million worth of Chainlink (LINK) tokens from a single victim. Key Details: The victim signed an “Increase Approval” function that granted access for the hacker to drain their wallet. This was done across two transactions …...
A federal judge ruled Thursday that Terraform Labs, the creator of the failed stablecoin TerraUSD and LUNA token, violated securities laws by selling tokens to public investors without registration. The judgment sets the stage for a fraud trial next month brought by the U.S. Securities and Exchange Commission. Key Takeaways Read more: Solana (SOL) Slumps; …...
Solana (SOL) shed nearly 8% over the past 24 hours, extending this week’s pullback to over 22% from Monday’s 10-month high above $125. The slump came as a speculative rush cooled around Solana-based meme coins after massive rallies. Key Takeaways SOL’s price crumbled from its highest level since April 2022, reaching $125 on Monday. The …...
Leading crypto exchange Binance has published its 2023 year-in-review report. It revealed considerable growth despite a tumultuous year for the digital asset industry and the exchange. Most notable was the addition of over 40 million new users, representing more than 30% growth year-over-year despite the exchange CEO stepping down and regulatory trouble. As per the …...
The Financial Intelligence Unit (FIU) of India has cracked down on major global crypto exchanges operating in the country under its anti-money laundering laws. On Thursday, the agency under the Ministry of Finance announced it had issued compliance show cause notices to nine offshore crypto trading platforms. Key Takeaways Read more: China Explains How It …...
China revealed details behind the conviction of influential crypto over-the-counter (OTC) trader Zhao Dong, known as the “OTC King.” The OTC King, who is the founder of crypto trading desk RenrenBit, received a 7-year prison sentence for illegal foreign exchange and crypto business operations. The case underscores China’s ongoing crackdown on cryptocurrency trading, even when …...
Bitcoin prices could face downside pressure if the U.S. Securities Exchange Commission (SEC) approves a spot Bitcoin exchange-traded fund (ETF), according to a new report by on-chain data firm CryptoQuant. In the report, CryptoQuant analysts warned that the long-awaited spot bitcoin ETF approval could end up becoming a “sell the news” event, with Bitcoin prices …...
Sam Altman’s Worldcoin continues to expand access to its iris-based identification system, “World ID.” According to the details from a recent announcement, the team launched biometric verification services this month in Singapore while adding locations across Asia, Europe, and South America. A blog update on December 27th announced that World ID had gone live at …...
Business intelligence firm MicroStrategy announced the purchase of over 14,620 Bitcoin on December 26th, worth $615.7 million. As revealed by the company’s former CEO and Bitcoin evangelist Michael Saylor via X on Wednesday, MicroStrategy paid an average of $42,110 for its latest crypto haul accumulated. Read more: Cathie Wood Bullish On Bitcoin ETF Approval, Says …...
Ark Invest CEO Cathie Wood expressed confidence that U.S. regulators will finally approve a spot Bitcoin exchange-traded fund (ETF) in the coming weeks. The move would enable Wall Street to tap into crypto exposure like never before. It could also help drive prices substantially higher, according to the star stockpicker. Speaking on CNBC, Wood called …...
On-chain trading platform Thunder Terminal suffered an exploit resulting in at least $100,000 worth of stolen Ethereum and Solana. The breach enabled bad actors to hijack user session tokens and initiate unauthorized withdrawals. Based on a Twitter incident report, the first illicit transfers happened around midnight UTC Thursday morning around 12:11:47 AM. Following the incident, …...
The Monetary Authority of Singapore-regulated payment institution Telcoin suffered a security exploit this week. The exploit resulted in over $1.3 million worth of crypto assets being drained from its Polygon-based wallet application. The breach triggered a temporary freeze of the app by the team. The native TEL token also plunged over 32% in price. In …...
Venture capitalist and longtime Bitcoin bull Tim Draper reiterated his forecast for Bitcoin to hit $250,000 in 2024. Draper maintains that this price target will likely arrive soon and spur further exponential growth as adoption expands. In an interview last week with crypto education platform Coin Bureau, Draper said he continues to expect Bitcoin to …...
Almost a decade after the largest cryptocurrency hack in history, creditors of the defunct Mt. Gox exchange are finally seeing the first reimbursements. The exchange witnessed the theft of approximately 800,000 Bitcoin now worth over $34 billion. Based on multiple Reddit posts in recent days on the mtgoxinsolvency forum, some former Mt. Gox users have …...
Attorneys from the Securities and Exchange Commission (SEC) formally apologized for their admitted shortfalls in seeking an asset freeze against crypto firm DEBT Box. The confession comes after a Utah judge rebuked the agency for “materially false” statements undermining case integrity. In a July lawsuit alleging $50 million in investor fraud, the SEC persuaded the …...
Stablecoin issuer Paxos has received regulatory approval to expand its dollar-pegged token, USDP, to the Solana blockchain. The move is set to launch on January 17, 2024, according to the details shared exclusively with Fortune. Walter Hessert, Head of Strategy at Paxos, stated the approval from the New York Department of Financial Services (DFS) will …...
Securities and Exchange Commission (SEC) Chairman Gary Gensler sparked controversy this week over his video about the crypto industry. Gensler claimed in the video that widespread noncompliance in the crypto realm is undermining market integrity and confidence. The SEC chair’s comment provoked backlash from leading crypto figures, who accused Gensler of hypocrisy and failing to …...
A “wallet drainer” has been linked to extensive crypto theft, totaling $58 million stolen from over 63,210 victims over the past nine months. The phishing kit was first detected in March 2023 and has shown up repeatedly in phishing ads on Google search and X ads using clever tactics to bypass ad platform safeguards. The …...
A strong 18% surge in the price of Solana over the past 24 hours has boosted SOL to the fourth spot by market capitalization. This is the first time it’s done so in over two years. SOL is currently priced at $98.3, up 17.2% on the day, with a market cap of $42 billion, according …...
Cryptocurrency exchange Coinbase gained regulatory approval this week to provide digital asset services in France. According to the latest report from CNBC, the exchange has secured a virtual asset service provider (VASP) license from national regulators. The registration comes as the company faces an increasingly fraught oversight battle in its home U.S. market. The contrast …...
Stablecoin issuer Circle announced on Thursday that it has secured conditional registration from France’s financial regulator to provide digital asset services in the country. The authorization represents a stepping stone to full licensing once Circle obtains separate electronic money institution approval. It is a part of the firm’s broader push for EU-wide oversight. Read more: …...
Sam Altman’s Worldcoin quietly suspended its biometric signup program in India, Brazil, and France. The halt happened several months ago after overwhelming demand for free token signups snarled operations in India, multiple sources told Moneycontrol. The shutdown aimed to address surging interest that created crowd control headaches and forced police interventions at Orb locations, according …...
YouTube is facing criticism after allowing a fraudulent Ripple (XRP) giveaway video to remain active for over a month, despite multiple user complaints arguing it violates platform policies. The video promotes a fake Ripple doubler scam, falsely claiming users can double their XRP holdings by sending funds to an associated wallet address. However, when users …...
Liquidators have obtained court orders freezing up to $1.14 billion in assets connected to the founders of failed cryptocurrency hedge fund Three Arrows Capital (3AC), according to Bloomberg. The restraint from the British Virgin Islands court aims to recover creditor losses from Three Arrows’ summer implosion during broader crypto market turmoil. The order also prevents …...
The Securities and Exchange Commission (SEC) is ramping up discussions around the hot topic of spot Bitcoin ETFs with its recent meeting with Grayscale. The commission has been meeting separately this week with both BlackRock and Grayscale about prospective proposals. Frequent Bitcoin ETF Talks Signal Positivity Bloomberg ETF analyst James Seyffart revealed in a tweet …...
A federal judge rejected Sam Bankman-Fried’s push to postpone deadlines related to his sentencing on FTX fraud convictions. The former CEO now faces the presentencing interview as scheduled. In a Wednesday letter, Bankman-Fried’s defense team argued sentencing should be tabled pending potential additional charges tied to FTX’s demise that may proceed to a second trial. …...
The UK government outlined the next steps this week to establish a financial sandbox. The move will allow companies to test tokenized versions of traditional securities. By enabling experimental pilot programs, officials hope to position the country as an innovation hub for asset tokenization and digital securities. Particularly, this is as the technology moves toward …...
Dubai’s dedicated crypto regulator, VARA, continues to lay the groundwork to transform the Gulf emirate into a global virtual asset hub. This is after the city rolled out a comprehensive regulatory regime for cryptocurrency companies. Dubai’s Virtual Asset Regulatory Authority sculpted guidelines pegged to global best practices for crypto service providers eyeing Dubai operations in …...
Crypto hardware wallet company Ledger pledged wide-ranging responses this week after a code exploit allowed a hacker to drain an estimated $600k in user funds on December 14th. In a lengthy X tweet, Ledger affirmed that it will fully compensate all victims impacted by the attack by the end of February 2024. This includes reimbursement …...
Over 40 countries engaged in some form of crypto regulation or legislation this year, according to a PriceWaterhouseCoopers report published Tuesday. Even though the report signals steadily growing government interest, the analysis indicates major gaps and inconsistencies remain across jurisdictions. The professional services firm found that despite expanding engagement, crypto oversight is still emerging in …...
In a recent conversation with Bloomberg, Michael Saylor, co-founder and executive chair of MicroStrategy, shared insights into the future of Bitcoin. He touched upon the significance of spot ETFs, and MicroStrategy’s unique position. Saylor emphasized the pivotal role of spot ETFs, stating, “This may be the biggest development on Wall Street in 30 years.” He …...
During his recent conversation with CNBC, Galaxy Digital CEO Mike Novogratz predicted U.S. regulators will finally approve a spot bitcoin exchange-traded fund (ETF) in January 2024. The prominent crypto bull said the Securities and Exchange Commission likely faces a January 10 deadline to rule on a batch of bitcoin ETF applications submitted by firms like …...
The developers behind the popular meme coin Shiba Inu announced plans this week to pursue a custom “.shib” internet domain aimed at advancing blockchain identity offerings. Shiba Inu plans to apply for the distinct .shib domain during ICANN’s next application window, according to developers. ICANN vets and approves new global internet domains. Read more: Bitcoin …...
In a recent interview with CNBC, Michael Saylor, Executive Chairman and Co-Founder of MicroStrategy, shared insights on the regulatory landscape and the factors influencing the recent Bitcoin rally. Addressing concerns about the impact of Coinbase’s petition in the federal appeals court on Bitcoin and MicroStrategy, Saylor expressed confidence in Bitcoin’s resilience amid regulatory uncertainty. He …...
Michael Sonnenshein, Grayscale CEO, sheds light on the crypto industry’s trajectory in a recent conversation with CNBC’s Squawk Box. Sonnenchein delved into the intricacies of the crypto industry, offering insights into the company’s advocacy efforts and the evolving landscape of digital assets. The conversation kicked off with the host probing Sonnenshein about Grayscale’s involvement in …...
Digital banking app Revolut is hitting pause on cryptocurrency purchases for business customers in the U.K. starting January 3rd. The move comes as the UK gears up for stricter crypto regulations set to take effect in early 2024. In an email seen by City A.M., Revolut indicated that tighter Financial Conduct Authority (FCA) requirements around …...
Bitwise Asset Management unveiled a new commercial this week urging viewers to “look for Bitwise.” The commercial comes amid the firm’s ongoing quest to launch a Bitcoin exchange-traded fund (ETF). The ad arrives as Bitwise and over a dozen other applicants vie for regulatory approval of what would be the first spot Bitcoin ETF in …...
Stablecoin issuer Circle announced Monday that its euro-backed stablecoin, EURC, is now live on the Solana blockchain. The move marks the latest expansion for Circle as the firm seeks to drive mainstream global usage of stablecoin. Launched in June 2022, EURC aims to bridge the gap between government-issued money and blockchain networks. The euro stablecoin …...
Arbitrum One Sequencer experienced a temporary stall on December 15, causing disruptions and triggering concerns within the Ethereum layer-2 network’s community. The outage, lasting approximately 78 minutes, led to chaos and confusion among users as the previously scheduled “ask me anything” Twitter Spaces session at 12 p.m. ET was abruptly canceled. The sequencer hiccup occurred …...
The U.S. Securities and Exchange Commission (SEC) has denied a petition from cryptocurrency exchange Coinbase requesting the agency provide more transparent rules and guidance around digital assets. The decision comes despite calls from within the commission for increased collaboration with crypto companies. In a statement on Friday, SEC chair Gary Gensler defended the agency’s oversight …...
SafeMoon, a once-popular decentralized finance (DeFi) protocol, filed for Chapter 7 bankruptcy on December 14th. The bankruptcy news comes just a month after the company and its executives were charged with fraud by the Securities and Exchange Commission (SEC). The bankruptcy filing caps a dramatic downfall for a firm that just last year was touted …...
In a recent security incident, Ledger, the popular hardware wallet manufacturer, faced an exploit on its Ledger Connect Kit. Ledger CEO Pascal Gauthier issued a statement recently, shedding light on the incident and the immediate actions taken to mitigate the exploit. The hacker stole over $484,000 worth of cryptocurrencies. The exploiter was also moving ETH …...
JPMorgan released its 2024 cryptocurrency outlook this week, providing an analysis of expected price performance and adoption trends across various digital assets. While expressing caution broadly towards crypto markets, analysts highlighted Ethereum’s coming transition as a potential bright spot. Key highlights: JPMorgan anticipates that Ethereum will be the highest-performing cryptocurrency over the next year due …...
Several major dApps, including SushiSwap, have been affected by a malicious attack targeting Ledger’s API kit, according to industry sources. The exploiting of vulnerabilities in Ledger’s code has enabled attackers to inject harmful JavaScript into widely-used DeFi interfaces. SushiSwap CTO Matthew Lilley posted multiple tweets recently urging users not to interact with any DeFi applications …...
Digital asset investment firm Bitwise outlines 10 likely crypto developments in 2024, pointing to factors like Bitcoin halving, rising institutional involvement, and surging adoption of blockchain technology applications. Bitcoin Setting New Highs Bitwise predicts Bitcoin will reach over $80,000 in 2024, beating its previous all-time high. This would be fueled by a spot bitcoin ETF …...
Companies holding significant Bitcoin or Ethereum will soon record the full turbulence of their crypto investments. This is after the Financial Accounting Standards Board published the long-awaited accounting changes recently. On Wednesday, the body governing financial accounting standards in the U.S. unveiled its first guidelines specific to cryptocurrency assets. Read more: Coinbase To Launch Crypto …...
Coinbase Global is expanding its international cryptocurrency exchange platform to offer spot trading of top coins like Bitcoin and Ethereum. The new spot crypto trading pairs with the USDC stablecoin and will be launched on Thursday, according to Bloomberg. The launch initially focuses on institutional investors. The move comes as Coinbase and other major crypto …...
Nearly one and a half years after the implosion of prominent crypto hedge fund Three Arrows Capital (3AC), co-founder Su Zhu faced intense questioning this week in a Singapore courtroom. The liquidators sought answers surrounding the firm’s dramatic collapse. People familiar with the confidential proceedings told Bloomberg that Zhu was compelled to respond to extensive …...
Just one week after its launch, the novel Bitcoin “Freedom Visa” residency program by El Salvador has already received hundreds of inquiries and applications. The latest updates are according to the details shared with CoinTelegraph. The program offers permanent residency and an eventual route to full Salvadoran citizenship for foreign nationals willing to invest $1 …...
The U.S. Department of Justice unveiled an indictment recently charging Australian citizens David Gilbert Saffron, 51, and Vincent Anthony Mazzotta Jr., 52, of Los Angeles. The duo were charged with operating a fraudulent crypto Ponzi scheme that ultimately stole over $25 million from victims. Read more: KuCoin Settles With New York, Agrees To Pay $22 …...
New York State Attorney General Letitia James stated on Tuesday that cryptocurrency exchange KuCoin has agreed to pay $22 million to settle a lawsuit brought by the state earlier this year. Moreover, KuCoin was accused of illegally operating in New York without proper registration. As part of the settlement shared by Reuters, KuCoin has agreed …...
SBF’s decision to deviate from his legal team’s strategy during cross-examination became a pivotal point in the FTX trial. According to David Mills, the mastermind behind the defense, this unscripted move might have contributed to the co-founder’s legal downfall. Mills, a seasoned legal professional, expressed his dissatisfaction with Bankman-Fried’s cross-examination skills. He labeled SBF as …...
FIFA has announced a new non-fungible token (NFT) drop that will give collectors a rare opportunity to secure tickets to the 2026 World Cup final in North America. “For the first drop, 100 digital collectibles will be made available … and will feature the rarest collectibles that offer the chance to secure 2026 FIFA World …...
The South Korea Financial Services Commission (FSC) has released a comprehensive set of crypto rules under the Act on the Protection of Virtual Asset Users. The primary objective is to ensure the safeguarding of virtual asset users and establish a robust framework for orderly virtual asset transactions. The proposed regulations cover a broad spectrum, starting …...
A federal judge issued a rebuke to the Securities and Exchange Commission last week regarding materially false representations made while seeking to freeze $49 million related to DEBT Box. Chief Judge Robert Shelby demanded the regulator explain why it should not face sanctions for harming case integrity after obscuring facts to win an emergency legal …...
Senator Elizabeth Warren emphasized the significance of strengthening law enforcement within the cryptocurrency sector during a recent interview with CNBC’s Squawk Box. Senator Warren emphasized that a review of the Bank Secrecy Act is necessary to address the issues raised by the cryptocurrency sector. Key Statements: Read more: VanEck Predicts Bitcoin’s All-Time High, Unveils 15 …...
Investment management firm VanEck has released an extensive cryptocurrency outlook containing 15 major predictions for 2024. Spanning market dynamics like Bitcoin exchange-traded funds (ETFs), the Ethereum merge aftermath, regulation, gaming, and more, the analysis paints a vivid picture of what may be in store for the growing digital asset ecosystem. The Debut of Spot Bitcoin …...
Cryptocurrency exchange Binance has withdrawn a last-year application for an operating license in Abu Dhabi, Reuters reported Thursday. This marks the latest regulatory setback for the cryptocurrency exchange as global scrutiny intensifies. A spokesperson said the decision was “unrelated” to Binance’s recent $4.3 billion settlement with U.S. authorities over anti-money laundering violations that triggered a …...
The U.S. Securities and Exchange Commission (SEC) has reportedly progressed to discussing intricate product mechanics with asset managers hoping to launch bitcoin exchange-traded funds (ETFs). The report suggests key approvals may soon emerge. Crediting information from anonymous industry executives, Reuters reported Thursday that talks have advanced from previous levels to substantive details. Areas under review …...
Montenegro’s top justice official privately intends to extradite collapsed crypto firm Terraform Labs founder Do Kwon to the United States instead of his native South Korea, according to people familiar with discussions. Kwon faces criminal fraud charges in both countries regarding the $40 billion downfall of his TerraUSD and Luna tokens in May 2022. He …...
The founder of Hong Kong cryptocurrency exchange Bitzlato pleaded guilty this week to operating an unlicensed money-transmitting business that enabled over $700 million in illicit funds. According to a press release by the United States Department of Justice, Anatoly Legkodymov, a Russian national known by aliases including “Tolik” and “Gandalf,” admitted the exchange served as …...
Robinhood is set to launch commission-free crypto trading in the European Union (EU), marking its second international foray within a week. Following the recent debut of its stock-broking services in the UK, the popular trading app is now set to enable European investors to seamlessly buy and sell over 25 cryptocurrencies. These include notable cryptocurrencies …...
Market conditions have turned favorable for Bitcoin, which has once again surged past the $44,000 mark. It reached a high of $44,408 before settling back at $44,100. The price surge has been attributed to the upcoming approval of a Bitcoin spot ETF by the Securities and Exchange Commission (SEC), according to a recent analysis. QCP …...
JPMorgan Chase CEO Jamie Dimon sparked fresh crypto controversy this week when he urged lawmakers to outright ban Bitcoin. He cited a few issues, including rampant usage by criminals. Testifying Wednesday before a Senate Banking Committee hearing, Dimon claimed cryptocurrencies serve as an aid for criminals, drug traffickers, and other illegal activities. Read more: Binance …...
Cryptocurrency exchange Binance announced a compensation plan for traders affected by sudden volatility in its euro-pegged stablecoin AEUR. The incident occurred early on December 6th, when AEUR experienced a 200% price surge. The sudden surge decoupled its price from the intended 1:1 backing with the euro. Read more: Charlie Munger Engages In Crypto Debate With …...
In the last-year episode of the Colossus podcast, which aired today, the vice chairman of Berkshire Hathaway, Charlie Munger, engaged in a conversation with John Collison, the co-founder of Stripe. Delving into various topics, the discussion took a notable turn towards Munger’s views on cryptocurrency and gold. Munger says crypto ought to have been driven …...
In one of the recent videos, CNBC’s Fast Money trader, Brian Kelly, sheds light on the potential impact and nuances surrounding Bitcoin. Kelly highlighted that the next Bitcoin “halving” remains on track for April, when the built-in code will cut block rewards issued to miners in half. He still argues that halving will limit new …...
Binance has launched a surprise crypto airdrop tied to its Web3 wallet usage before the new year. Traders completing a single wallet swap enter drawings for prizes ranging from 1 Shiba Inu to 1 BTC. The largest cryptocurrency exchange announced the airdrop campaign via X on Tuesday. Binance will airdrop $500,000 in Bitcoin and altcoins to …...
The Swiss city of Lugano is expanding cryptocurrency integration by enabling residents to pay any municipal bill or tax invoice using Bitcoin (BTC) or Tether (USDT) stablecoins through a new streamlined process. Key Highlights: The new initiative announced Tuesday builds on Lugano’s move to accept Bitcoin and stablecoin Tether for payments on its web portal. …...
A vulnerability was recently discovered in a commonly used Web3 open-source library. The vulnerability could potentially affect numerous NFT projects built using frameworks from web3 development toolkit provider Thirdweb. Thirdweb disclosed the vulnerability on Nov. 30th and immediately began working to protect affected customers. Additionally, the company released guidance for determining if a project’s smart …...
The eye-catching Bitcoin pile of MicroStrategy has recently surpassed $2 billion in unrealized profit. As the price of bitcoin briefly surpassed $42,000, MicroStrategy’s bitcoin accumulation seems to be paying off handsomely on paper. Bitcoin surged from a 24-hour low of $39,400 to a high of $42,108 before dropping to its current price of $41,715. This …...
Leading crypto exchange Bybit has analyzed trader behavior during the wild market swings since 2022. Their asset allocation research explores how different groups shifted holdings across coins, stablecoins, and alt tokens as prices whipsawed. With crypto buffeted by crises like Terra’s collapse and FTX’s implosion, traders employed strategies aligning risk profiles and sentiment. However, significant …...
El Salvador’s venture into Bitcoin has taken a positive turn, with President Nayib Bukele announcing notable profitability that contradicts earlier negative narratives. Through his latest tweet, Bukele clarified that the current market conditions have not only allowed the nation to recover its entire Bitcoin investment but also to accrue an unrealized profit of $3,620,277.13. Addressing …...
A federal judge has ordered the Securities and Exchange Commission (SEC) to show cause why it should not face sanctions after finding the agency made misleading statements about DEBT Box to obtain an emergency court order freezing over $49 million in assets last July. The rebuke from Chief Judge Robert Shelby spotlights “materially false” representations, …...
Two brothers arrested for exploiting vulnerabilities in the decentralized finance protocol Platypus that led to the theft of $8.5 million worth of crypto assets were acquitted of all charges in a Paris court last week. The news was initially published by the news outlet Le Monde. In mid-February, an ethical hacker named Mohammed M. drained …...
Decentralized cryptocurrency exchange KyberSwap has pledged ongoing assistance to users and law enforcement following a devastating hack last week that resulted in nearly $50 million being stolen. The platform said it understands many are facing hardship and promised grants to affected users. On November 22, an exploiter took advantage of a vulnerability in KyberSwap’s Elastic …...
Crypto exchange Coinbase published its fifth annual transparency report this week. With the report, the crypto exchange is shedding light on the number and nature of government and law enforcement requests for customer data that the company has received over the past year. The report, covering the period from October 1, 2022, through September 30, …...
Forkast Labs, the merged entity of crypto news site Forkast.News and NFT data provider CryptoSlam, has laid off the majority of its editorial staff as part of a shift in focus to data products, The Block has learned. According to multiple sources close to the matter, the publication has stopped pushing out new articles and …...
Esteban Cabrera Da Corte, also known as “Esteban Cabrera” was sentenced on Friday to 63 months in federal prison for leading a scheme to steal millions of dollars in crypto. The 27-year-old from Miami used stolen personal information to set up fake accounts and trick U.S. banks and a major cryptocurrency exchange into reversing legitimate …...
The crypto industry witnessed its highest monthly losses this year in November 2023 as hacks and frauds targeting decentralized finance (DeFi) and centralized finance (CeFi) surged. With over $343 million lost, the ecosystem saw a 15-fold increase in damages compared to October 2023. The data is from a November 2023 crypto loss report. Major Incidents …...
MicroStrategy, led by CEO Michael Saylor, has recently acquired an additional 16,130 Bitcoin for approximately $593.3 million. This latest acquisition brings the total Bitcoin holdings of the tech-focused firm to 174,530 BTC, valued at around $5.28 billion. Current Valuation and Profits: MicroStrategy holds 174,530 Bitcoin MicroStrategy’s Bitcoin journey, initiated in 2020 under the visionary leadership …...
The pseudonymous hacker who exploited the decentralized exchange KyberSwap earlier this month has issued startling demands that would grant them complete authority over the battered protocol’s operations and assets. In an on-chain message addressed to “all relevant and/or interested parties,” the exploiter calling themselves “Kyber Director,” thanked the community for patience during this “uncertain time. …...
The U.S. Department of the Treasury announced sanctions today against the cryptocurrency mixing service Sinbad.io (Sinbad). The sanctions are based on its alleged involvement in laundering hundreds of millions of dollars in crypto stolen by the North Korean state-sponsored Lazarus Group. Crypto mixers or tumblers are designed to obscure the origin and destination of digital …...
Cristiano Ronaldo is facing a proposed class-action lawsuit alleging he promoted the cryptocurrency exchange Binance, which has since faced legal troubles in the United States. Filed on November 27 with a U.S. District Court in Florida, the lawsuit claims Ronaldo “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in …...
In a series of tweets, two decentralized cryptocurrency exchanges (DEXs) on the Optimism and Base blockchains reported that their frontends had been hacked. Velodrome, the biggest DEX on Optimism in terms of total value locked, tweeted, “Our frontend is currently compromised. Please do not interact with Velodrome for the time being. The team is investigating …...
Binance.US took to X (formerly Twitter) to assure its community that it stands unaffected by the recent settlements. The official statement emphasizes the crypto exchange’s commitment to operating independently and adhering to all U.S. rules and regulations. Launched with the explicit goal of serving United States customers, Binance.US has clarified that it is not implicated …...
Richard Teng, the newly appointed CEO of leading cryptocurrency exchange Binance, laid out his vision and commitments in his first public address since taking the helm. Teng formally succeeded company founder Changpeng “CZ” Zhao shortly after CZ stepped down. In the open letter posted to Binance’s blog, Teng underscored his core focuses as incoming chief …...
Crypto investment products saw record inflows of $346 million last week, marking the largest weekly inflows during the current 9-week run, according to the latest report from CoinShares. The combination of rising cryptocurrency prices and growing investor inflows has now pushed total assets under management (AuM) in these funds up to $45.3 billion, the highest …...
Several Hong Kong residents lost a total of nearly HK$120 million (US$15.4 million) in an alleged cryptocurrency investment scam, according to police reports. Many affected say warnings about the suspicious trading platform came too late, according to the South Morning China Post. The Securities and Futures Commission (SFC) added Hounax to its list of suspicious …...
Cryptocurrency exchange Poloniex and its native token HTX were the targets of hacker attacks earlier this month, prompting the platform to temporarily suspend deposits and withdrawals. Now, Poloniex’s owner, Justin Sun, has announced plans to compensate affected users as services resume. In a recent tweet, Justin Sun said Poloniex and HTX “approach opening deposit and …...
A Montenegro court has approved the extradition of Do Kwon, founder of the failed cryptocurrency Terra, to either South Korea or the United States once he finishes serving a four-month prison sentence in Montenegro. The final extradition decision will be made by Montenegro’s Justice Minister. Kwon was arrested in March at Podgorica Airport in the …...
The Bank of Korea (BOK) has announced plans to launch a pilot program. The program will allow 100,000 Korean citizens to utilize a central bank digital currency (CBDC) by late 2024. The program comes on the heels of a visit from Agustin Carstens, general manager of the Bank for International Settlements. The current plans are …...
In the aftermath of Binance’s $4.6 billion settlement and CZ’s resignation, Jesse Powell, co-founder of crypto exchange Kraken, takes to X (formerly Twitter) to reflect on the challenges faced by the cryptocurrency industry. Powell discusses the ongoing struggles, the need for self-policing, and Kraken’s commitment to the long game. Additionally, his remarks come on the …...
In one of the most recent updates, PeckShield spotted abnormal withdrawals from the Heco bridge, including over $19 million worth of Ethereum. Additional funds in Tether, Chainlink, and other tokens were also rapidly drained in what seems to be an attack exploiting the bridge’s systems. PeckShield stated that the transactions were initiated by an operator …...
Crypto lending firm Genesis Global Capital has filed a lawsuit against the Gemini crypto exchange. The lawsuit seeks the recovery of over $689 million in alleged “preferential transfers” made by Gemini amid market turmoil this year, court documents revealed on Tuesday. The lawsuit marks the latest twist in the bitter legal fight between the two …...
Nearly a decade after its collapse, defunct crypto exchange Mt. Gox is gearing up to start compensating creditors after prolonged delays, according to an email sent to claimants this week. In an email to creditors on November 22, Mt. Gox rehabilitation trustee Nobuaki Kobayashi said efforts are underway “to commence repayments in cash within the …...
With the stunning news that rival crypto exchange Binance has been hit with criminal charges in the U.S., Coinbase CEO Brian Armstrong sees vindication in his company’s slower, compliance-focused approach. In a tweet shortly following the news regarding Binance CEO’s departure on Tuesday, Armstrong laid out why he believes Coinbase’s cautious strategy will pay off …...
The U.S. Department of Justice (DOJ) announced criminal charges against cryptocurrency exchange Binance on Tuesday. The charges allege the firm conspired to launder money and violated U.S. sanctions law. The filings represent the culmination of a years-long federal investigation into the largest crypto trading platform globally in terms of volume. The charges specifically relate to …...
Binance CEO Changpeng Zhao (CZ) plans to step down from his leadership role. Additionally, he will plead guilty to criminal violations of U.S. anti-money laundering (AML) regulations, according to sources familiar with the matter shared with WSJ. CZ’s guilty plea is part of a sweeping $4.3 billion settlement deal between global cryptocurrency exchange Binance and …...
The U.S. Department of Justice (DOJ) announced on Tuesday that it has seized nearly $9 million worth of the stablecoin Tether associated with an international criminal network running romance scams and cryptocurrency investment schemes. Dubbed “Pig Butchering,” these scams seek to gain a victim’s trust before coercing them to make bogus crypto investments or directly …...
The U.S. Securities and Exchange Commission (SEC) filed a complaint alleging that crypto exchange Kraken operates as an unregistered securities exchange, broker, and clearing house. Kraken strongly pushed back against the allegations, arguing that the claims are “factually incorrect” and have no legal basis. In the complaint, the SEC points to large transaction volumes on …...
The US Department of Justice is engaged in advanced negotiations with cryptocurrency exchange Binance over a proposed resolution to a multi-year investigation. The DOJ is seeking a settlement amount of over $4 billion from Binance, according to people familiar with the confidential talks shared with Bloomberg. While specifics are still minimal, the DOJ aims to …...
Stablecoin issuer Tether has frozen over 225 million USDT associated with an international human trafficking and money laundering operation in Southeast Asia. The freeze, conducted in collaboration with OKX and the United States Department of Justice (DOJ), represents the largest ever by Tether. Tether, OKX and DOJ freezes $225 million USDT The targeted operation involved …...
Mastercard has announced a new partnership with Feedzai, an artificial intelligence company, to enhance its capabilities to detect and prevent cryptocurrency fraud. The partnership details shared with CNBC come as Mastercard looks to increase oversight of the crypto sector. While the cryptocurrency realm is a booming sector, it remains prone to money laundering, scamming, and …...
The US Securities and Exchange Commission has postponed decisions on spot bitcoin exchange-traded fund (ETF) applications from Global X and Franklin Templeton. The latest update is according to a recent note released by the SEC and tweets from ETF analyst James Seyffart. The delays were expected by industry experts. On Friday, Seyffart tweeted that the …...
Dubai Virtual Asset Regulatory Authority (VARA) announced it has fined 18 crypto companies so far for failing to engage with its licensing process before the November 17th deadline. VARA warned that additional enforcement actions are forthcoming. In the announcement, VARA stated: Strict Licensing Rules Instituted This Year VARA began implementing its robust crypto asset framework …...
The US Department of Justice announced charges on Thursday against three individuals—Zhong Shi Gao, Naifeng Xu, and Fei Jiang—for allegedly perpetrating a complex crypto money laundering scheme to defraud banks of over $10 million. The trio allegedly laundered the stolen funds through cryptocurrency exchanges. Federal prosecutors with the US Attorney’s Office for the Southern District …...
In the latest updates that surfaced in the crypto spot ETF realm, BlackRock officially filed an application with the SEC for a spot Ethereum exchange-traded fund (ETF). The proposed ETF would track the price of Ether under the ‘iShares Ethereum Trust’ brand. The S-1 filing comes just a week after BlackRock registered the iShares Ethereum …...
Blockchain sleuth ZachXBT issued a public alert that lending protocol Lendora Protocol appears poised to execute a large-scale exit scam, potentially totaling millions in losses based on suspicious indicators. In a Twitter thread, ZachXBT revealed evidence raising exit scam concerns: Lendora Protocol website goes offline According to ZachXBT, Lendora’s team has been connected to numerous …...
The U.S. Securities and Exchange Commission (SEC) has announced delays in making decisions on two crypto ETF applications. The regulatory agency is extending its review period for both Hashdex’s proposal to convert its bitcoin futures ETF into a spot bitcoin ETF and Grayscale’s application for an ether futures ETF. The delays, announced in SEC filings …...
A bipartisan group of congressional leaders has embarked on a fact-finding crypto mission regarding recent reports that the Palestinian militant group Hamas has utilized cryptocurrency to raise funds. The inquiry, led by House Financial Services Committee Chairman Patrick McHenry, seeks to gather information to inform potential congressional action on this issue. Chairman McHenry was joined …...
Commerzbank AG has been granted a crypto asset custody license, making it the first major German full-service bank to receive regulatory approval for comprehensive digital asset services. The Frankfurt-based bank announced receiving the license under the German Banking Act on Wednesday. The license enables Commerzbank to launch institutional-grade custody and additional crypto offerings for clients. …...
Cboe Digital, the crypto arm of derivatives exchange giant Cboe Global Markets, has unveiled plans to enter into regulated margin trading for Bitcoin and Ethereum futures. The launch, slated for January 11, 2024, will make Cboe the first U.S. trading platform to offer combined spot and leveraged crypto trading with integrated clearing. Cboe Digital President …...
Blockchain security company SlowMist has published a comprehensive analysis discussing a counterfeit Skype application. The fake app secretly uploaded users’ images and modified crypto wallet addresses with the intent of pilfering funds. SlowMist investigated after a victim reported stolen assets from downloading a counterfeit Skype app outside official channels. Key findings from their analysis: Advanced …...
Cryptocurrency exchange Poloniex is looking into what appears to be a major security breach affecting one of its wallets. Large unauthorized outflows indicate substantial user funds were potentially stolen. On-chain analysis by PeckShield Alerts shows suspicious transfers from a Poloniex-tagged hot wallet, identified as Poloniex 4 on Etherscan. Initial estimates suggest over $125 million worth …...
MicroStrategy’s Bitcoin holdings have attained immense unrealized profits following the latest BTC price surge. MicroStrategy currently holds around 158,400 Bitcoin worth over $5.8 billion as of press time, according to data tracked by Saylor Tracker. This represents an unrealized profit of approximately $1.07 billion based on MicroStrategy’s accumulated investment costs. The unrealized gain equals a …...
Financial giant BlackRock registered an Ethereum trust with Delaware, according to the latest reports that surfaced. This has sparked speculation about an impending SEC application for an ETH ETF. Independent analysts revealed BlackRock’s registration of the iShares Ethereum Trust on X (formerly Twitter). Eric Balchunas, senior ETF analyst at Bloomberg, confirmed the news himself. BlackRock …...
As the highly anticipated Bitcoin halving approaches in early 2024 and optimism grows around a spot ETF approval in the US, the excitement and positivity surrounding Bitcoin continues to build. In this context, a crucial question for investors is: what portion of the 21 million Bitcoin supply is actively circulating versus held tightly in reserves? …...
ETF analyst James Seyffart asserts the SEC could approve a swath of bitcoin spot ETFs together in a brief upcoming window. The analysis aligns with his forecast of >90% odds for approval by January 2024. In a recent tweet thread, Seyffart said that a joint approval wave could occur because multiple recent filings faced simultaneous …...
The price of Ordinals (ORDI) has seen a dramatic 88% surge over the last 24 hours following its listing on the popular crypto exchange Binance. The token’s price jumped from a 24-hour low of $7.21 to its current level of $13.78 as of press time, according to CoinMarketCap data. The addition to Binance, currently the …...
Cryptocurrency exchange Binance has released its twelfth proof of reserve report, providing transparency into its reserves during a period of market instability. The latest report, with a snapshot date of November 1st, 2023, was calculated and verified by independent Chinese journalist Colin Wu. The proof of reserve report aims to reassure users that Binance has …...
A rare zombie CryptoPunk NFT sold for $1.14 million on Monday, sparking speculation that interest in NFTs is rebounding after months of declining sales volume. CryptoPunk #7458 is one of only 88 zombie punks in the collection of 10,000 unique punks. It has three attributes: a shadow beard, a knitted cap, and regular shades. This …...
The centralized cryptocurrency exchange (CEX) landscape has seen some notable shifts over the past year, according to a new market report from blockchain analytics firm 0xScope. While Binance still retains the top spot by a large margin, its market share across key metrics like trading volume has declined, opening opportunities for other exchanges to gain …...
A 47-part Twitter/X thread by Genesis creditor Vijay Boyapati alleges Digital Currency Group (DCG) and its CEO Barry Silbert perpetrated fraud to hide massive Genesis losses stemming from Three Arrows Capital’s (3AC) implosion. Boyapati argues DCG provided a bogus $1.1 billion promissory note to paper over Genesis’ insolvency, misleading creditors and buying time. The scheme …...
A fake Ledger Live app surfaced on the official Microsoft app store, resulting in over $768,000 being stolen before its removal, according to crypto sleuth ZachXBT. The scam wallet received nearly 17 Bitcoin from victims. The fake Ledger Live app exploited the Microsoft Store’s credibility to lend legitimacy to an elaborate phishing scam. The ploy …...
Digital asset investment products recorded $261 million of net inflows last week, marking the 6th consecutive week of inflows, according to crypto asset manager CoinShares. Total inflows over the streak now exceed $767 million. The latest $261 million weekly gain pushes total inflows over the 6-week run past the $736 million seen in all of …...
Advisers for collapsed cryptocurrency exchange FTX have disclosed customer transaction data and account details to multiple FBI field offices in recent months, according to a report by Bloomberg. Consultancy Alvarez & Marsal has provided information on specific FTX users’ trades and accounts in response to FBI subpoenas and requests. This was revealed in the firm’s …...
OpenSea, the largest NFT marketplace, revealed significant company changes, including layoffs and a product revamp dubbed “OpenSea 2.0.” In a nine-part Twitter thread, CEO Devin Finzer announced they are rebuilding OpenSea’s culture, products, and technology from scratch. While proud of OpenSea’s NFT industry contributions, Finzer admitted the platform feels like a “follower, not a leader” …...
The US Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions this week on Russian national Ekaterina Zhdanova for using crypto to help Russian elites evade international sanctions related to the war in Ukraine. According to the Treasury announcement, Zhdanova facilitated over $2.3 million in fund transfers to Western Europe on behalf of a …...
The Singapore Police Force issued a warning this week about a new phishing scam targeting WhatsApp users. The scam involves fake “WhatsApp Web” websites that trick victims into giving scammers access to their WhatsApp accounts. According to the police advisory, the scam starts when victims search for the WhatsApp Web page and click on phony …...
Memecoin saw major on-chain activity and exchange deposits following its high-profile Binance listing. On-chain analytics firm Lookonchain provided detailed breakdowns of Memecoin’s tokenomics and post-listing token movements. According to Lookonchain, the total supply of Memecoin is 69 billion tokens. 8,797,500,000 MEME were circulating initially when Memecoin was listed on Binance, equaling 12.75% of the total …...
The price of Solana (SOL) has surged around 69.5% over the past month, leading up to the breakpoint in 2023, according to analysis by on-chain tracking firm Lookonchain. However, previous pump and dumps around the event raise questions. Solana is currently trading around $40.50, up from under $25 in early October. Lookonchain cited several factors …...
“You can never have too much bitcoin,” affirmed diehard Bitcoin bull Michael Saylor in a recent CNBC interview following the Q3 earnings of MicroStrategy. He cited several key factors that can drive further bitcoin growth. As the co-founder of MicroStrategy, Saylor has made Bitcoin a corporate strategy. The company holds 158,400 BTC worth billions acquired …...
Three dormant Bitcoin whale addresses moved a combined 6,500 BTC worth about $230 million and made sudden transfers on November 2nd. The wallets have been inactive since 2017. According to data from BitInfoCharts, the first address moved 2,550 BTC, valued at around $90 million. A second address transferred 2,000 BTC worth $71 million. And a …...
As the fraud trial of FTX founder Sam Bankman-Fried continues, federal prosecutors are attempting to convince the jury that the former crypto mogul knowingly misled investors and misused customer funds. Assistant U.S. Attorney Nicolas Roos delivered the prosecution’s closing argument on Wednesday, asserting there is “no serious dispute” that billions in customer funds are unaccounted …...
The US Securities and Exchange Commission (SEC) charged crypto firm SafeMoon, its founder, and executives on Thursday for perpetrating an alleged $200 million fraud through unregistered token sales. According to the SEC complaint, SafeMoon and its leaders falsely promised investors they would safely lock liquidity pool funds. However, they allegedly misappropriated millions to fund lavish …...
Crypto exchange FTX and its sister trading firm, Alameda Research, have transferred close to $127.5 million worth of digital assets over the past few days, according to on-chain data tracked by analyst Lookonchain. $20.2 million moved on November 1 Lookonchain reported FTX moved around $20.2 million in assets on November 1, including: On October 31, …...
Payments giant PayPal has successfully registered with the UK’s Financial Conduct Authority (FCA) as a crypto service provider, according to the regulator’s public register. However, PayPal faces restrictions on UK crypto services pending further FCA approvals. The FCA register shows PayPal UK Limited was approved for registration on October 31, 2023. The status permits PayPal …...
As Ethereum continues to cement itself as the leading smart contract blockchain network, an array of layer 2 scaling solutions have emerged to help bring greater capacity, lower costs, and increased security to the ecosystem. According to Ethereum co-founder Vitalik Buterin, the layer 2 landscape is likely to remain diverse and heterogeneous going forward. In …...
In October, over $32 million in crypto was stolen through an array of security breaches, scams, and exploits, according to security and threat intelligence platform CertiK. The October loss pushed 2023’s total well above $1.3 billion. CertiK’s incident report reveals the scale and diversity of risks facing the crypto sector. Here are the key details: …...
On October 31, 2023, Securities and Exchange Commission (SEC) Chair Gary Gensler posted a provocative tweet commemorating the 15th anniversary of the publication of the Bitcoin whitepaper by its pseudonymous creator, Satoshi Nakamoto. In the tweet, Gensler playfully pondered whether anyone would be able to recognize Satoshi if he went out incognito for Halloween. He …...
Stablecoin firm Tether published its reserves attestation for Q3 2023, revealing its highest ever percentage of reserves held in cash and cash equivalents. The report signals Tether’s prudent financial management amid crypto market volatility. Independent auditor BDO confirmed Tether’s consolidated assets continue to exceed its outstanding token liabilities as of September 30, 2023. Tether also …...
On-chain sleuth ZachXBT is advising investors to exercise caution regarding the ongoing token sale for De.Fi 2.0 and its native DEFI token. In a recent tweet, he pointed out several issues that raise red flags about the project. De.Fi 2.0 operates in the decentralized finance space and conducted an initial DEX offering (IDO) for its …...
The price of Ethereum has surged recently but is beginning to show signs of conflicting momentum, based on the latest blockchain insights shared by market intelligence platform Santiment. While the second-largest cryptocurrency gained over 13% in October, its trading volumes have declined even as prices rise. This divergence between rising prices and falling volumes often …...
Crypto Investment funds saw $326 million of net inflows last week, the highest weekly total since July 2022, according to new data from CoinShares. The surge follows building optimism around a potential US spot bitcoin ETF approval. Key details from the report: Where Are Funds Flowing From? Only 12% of the latest inflows came from …...
FTX founder Sam Bankman-Fried took the stand for the first time Friday in his criminal fraud trial, describing the crypto exchange’s exponential expansion and his extensive work hours. However, he conceded that the lack of a risk management team was a glaring oversight. Bankman-Fried testified that FTX trading volume rapidly scaled from millions to billions …...
Top Federal Reserve supervision executive Michael Barr said Friday that stablecoins require strong oversight to avoid risks. However, he noted the Fed remains undecided on pursuing a central bank digital currency (CBDC). In remarks at a Washington, D.C., conference, Barr stated: Stablecoins Require Federal Regulation Barr expressed deep concern over stablecoins issued without federal prudential …...
Cryptocurrency hardware wallet maker Trezor is investigating a phishing email campaign targeting its users. Crypto sleuth ZachXBT revealed details of the scam on his Telegram channel. The fraudulent emails invite Trezor owners to download a fake firmware update to supposedly fix a software issue. This mirrors tactics seen in prior Trezor phishing schemes. According to …...
In his farewell speech, Sir Jon Cunliffe of the Bank of England took stock of how Facebook’s 2019 announcement of its planned Libra cryptocurrency jolted central banks and regulators to address digital money and payments with greater urgency. While Libra itself ultimately failed to launch and was rebranded last year, Cunliffe said its unveiling put …...
Cryptocurrency exchange FTX has transferred additional millions in digital assets, according to blockchain data revealed by on-chain analyst Lookonchain. The latest transfers include: The asset movements follow earlier transfers of millions in Solana and Ethereum from FTX wallets to exchanges. FTX’s asset movement comes amidst SBF’s proceedings This activity comes as FTX navigates concurrent bankruptcy …...
Younger generations are propelling crypto adoption as they look beyond traditional institutions to chart their own paths to economic opportunity, according to crypto exchange Coinbase’s latest State of Crypto report. The report finds that Millennials and Gen Z have far less faith in the current financial system. They are instead embracing cryptocurrency and blockchain as …...
Republican lawmakers are pressing the Department of Justice to evaluate crypto exchange Binance and stablecoin Tether over potential terrorism financing. This comes amid conflicting reports on crypto’s role in funding attacks against Israel. In a letter on Thursday, Senator Cynthia Lummis (R-WY) and Representative French Hill (R-AR) urged the DOJ to evaluate Binance and Tether’s …...
In an exclusive interview with Chinese journalist Colin Wu, Hong Shuning, the author of China’s first Bitcoin research paper and a former central bank researcher, revealed his vision of Bitcoin as legal tender back in 2011. Hong sees Bitcoin evolving beyond just a currency into a diverse Web 3.0 ecosystem. Despite missing out on huge …...
Coinbase Wallet has implemented support for real-time balance updates and near-instant transactions on Layer 2 (L2) networks like Arbitrum and BuildOnBase, according to a tweet by the company’s official Twitter account. CEO Brian Armstrong expanded on this in his own tweet, stating that Coinbase has been working hard to reduce the cost and time required …...
Cryptocurrency payments provider MoonPay announced a new collaboration with Mastercard focused on Web3-based marketing and experiences. Together, the duo will explore utilizing Web3 tools to enhance experiential marketing across Mastercard’s sponsorship properties. The goal is to connect with consumers through innovative engagement, according to the details of the announcement. MoonPay will also work closely with …...
A recent investigation by ZachXBT has uncovered extensive involvement by a Canada-based individual known as “Yahya” in a string of SIM swap attacks targeting prominent figures in the cryptocurrency space. According to details published in an expose thread by crypto sleuth ZachXBT, Yahya participated in at least 17 SIM swaps that resulted in over $4.5 …...
The UK’s Financial Conduct Authority (FCA) has called out compliance issues with crypto promotions since new marketing rules took effect on October 8. The FCA says it is taking action against firms illegally promoting crypto. The regulator highlighted three “common issues” seen in promotions: FCA asks firms to take regulatory obligations seriously The FCA said …...
Bankrupt cryptocurrency exchange FTX has attracted several bids for a potential company restart, according to investment banker Kevin Cofsky of Perella Weinberg Partners. Cofsky testified at a Tuesday court hearing that FTX has narrowed down bidders interested in acquiring or investing in the collapsed exchange. Key points: Cofsky’s testimony helped keep FTX’s millions of customers …...
Cryptocurrency lending platform BlockFi announced it has emerged from Chapter 11 bankruptcy proceedings as of October 24, 2023. The company filed for bankruptcy in November 2022 amid broad industry turmoil. BlockFi said its restructuring plan has now taken effect, allowing the company to begin repaying creditors per the bankruptcy terms. Key points: What happened to …...
As the price of Bitcoin briefly touched $35,000, MicroStrategy’s sizable BTC holdings have generated enormous unrealized profits for the enterprise. According to on-chain analyst Lookonchain, MicroStrategy currently holds 158,245 BTC worth over $5.4 billion at today’s prices. This represents an unrealized profit of approximately $746 million for the company’s Bitcoin investments. MicroStrategy, led by CEO …...
Popular Friend.Tech user Vombatus_eth migrated over 850 ether (ETH), worth approximately $1.5 million, from the Ethereum-based social media app to the rival New Bitcoin City platform. Vombatus, who was one of the biggest “key” holders on Friend.Tech, continues to hold 150 keys on the app. The keys provide access to exclusive chat groups and content. …...
Cryptocurrency exchange Binance renewed arguments against Commodity Futures Trading Commission (CFTC) charges on Monday, claiming the regulator is overstepping its authority. Binance faces increasing regulatory pressure as the CFTC pursues charges over allegedly offering unregistered crypto derivatives to US customers. In a March complaint, the CFTC claimed jurisdiction because the derivatives were denominated in a …...
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