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28 Jan 2023 05:28

🇰🇷 Bithumb’s Owner Was Requested By Prosecutors In South Korea For An Arrest Warrant

Kang and two Bithumb executives were convicted under the Act on the Aggravated Punishment of Specific Economic Crimes by the Financial Investigation 2nd Division of the Seoul Southern District Prosecutor’s Office on allegations of embezzlement and breach of trust.

Investigators are looking into charges of misappropriation by Bithumb’s leaders at one of the country’s top cryptocurrency exchanges. South Korean authorities sought an arrest warrant for Kang Jong-Hyun, the chairman and owner of this bitcoin exchange, on January 25, according to local news site Infomax. Kang is wanted on suspicion of embezzlement in connection with his operations at the exchange. Concurrently, Kang is being investigated for allegedly manipulating the stock prices of this exchange affiliates Inbiogen and Bucket Studio through the issuing of convertible bonds.

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26 Jan 2023 06:56

🆘 Digital Currency Group's Luno cuts 35% of staff

Luno, the crypto exchange owned by Digital Currency Group, reduced its workforce by 35%. The London-based firm told employees about the layoffs earlier today. Luno had a total headcount of 960, meaning over 330 jobs will be lost as a result of the cuts, CNBC reported earlier.

DCG has come under increasing pressure over the past year as the crypto downturn intensified amid a turbulent macroeconomic backdrop. The collapse of crypto hedge fund 3AC in June and the failure of FTX in November exacerbated the firm's underperformance. The company said that customers and operations would not be impacted. DCG and Luno did not immediately respond to a request for comment when contacted by The Block.

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24 Jan 2023 06:52

🪙 Developers finalize first 'shadow fork' for Ethereum's Shanghai upgrade

Developers successfully launched a "shadow fork" of the Shanghai upgrade to test it on a version of the main Ethereum network. A shadow fork is a test version of the actual mainnet, allowing developers to see if a piece of code from the proposed upgrade.

Shanghai, withdrawals will be launched on the mainnet in March, enabling users to access their staked coins that were made temporarily inaccessible during the transition known as "The Merge" in September. While the main feature will be withdrawals, developers have finalized three other improvements aimed at optimizing gas costs for certain activities. Developers are considering a public test network before the end of February, which would onboard staking firms to test the Shanghai upgrade.

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22 Jan 2023 05:18

🆘 Genesis Has Stated Their Intention To Emerge From Bankruptcy By May 19

Genesis Global, a lender specializing in encryption, anticipates being able to conclude its bankruptcy processes within the next four months.The company has claimed that it is examining a number of options in order to serve Genesis customers.

According to documents submitted to the United States Bankruptcy Court for the Southern District of New York, cryptocurrency lender Genesis Global Capital is making preparations to emerge from bankruptcy on or around May 19. Gemini users are impacted in some way by the solutions that were developed in Chapter 11. The firm has stated that it is considering a variety of alternatives in order to provide customers of Genesis and users of Gemini Earn with the most favorable conclusion possible.

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20 Jan 2023 08:24

DCG subsidiary Genesis Global has filed for bankruptcy in the Southern District of New York.

This is pushing Bitcoin back below 21k

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19 Jan 2023 08:18

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18 Jan 2023 06:17

🟠 Binance.US’s Voyager Acquisition Agreement Final Hearing Will Take Place On March 2

The final hearing for Binance.US’ acquisition of Voyager’s assets will be held on March 2, and the calculation date for the price of user recovery funds has not yet been determined. The UCC sought greater protection in light of the unexpected collapse of FTX.

In response to the process of Binance.US acquiring Voyager assets, the Voyager Unsecured Creditors Committee (UCC) stated on Twitter that after the bidding is completed, stakeholders in the transaction have 28 days to raise objections, and the objection deadline is on February 22, a hearing to finalize the deal is scheduled for March 2, which provides a week to respond to any objections before the hearing. the risks of theft and fraud in the cryptocurrency industry.

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16 Jan 2023 06:38

🇮🇳 RBI Governor Says Cryptocurrency Is Gambling With No Economic Value

Shaktikanta Das, the governor of the Reserve Bank of India (RBI), spoke at the Business Today Banking and Economy Summit and reaffirmed his position calling for the outlawing of cryptocurrencies on the grounds that they are speculative and similar to gambling.

The governor of the RBI restated the position of the central bank on cryptocurrencies, saying they should be outlawed. According to Das, the RBI’s position on cryptocurrencies is unchanged, noting that they should be viewed like gambling activities rather than as financial products, India Today reported on January 13. Das claimed that the lack of underlying value in cryptocurrencies is what poses the greatest threat to the financial sector.

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14 Jan 2023 05:32

🏦 Cathie Wood's Ark Invest adds another $2.5 million in Coinbase shares

Cathie Wood's Ark Invest loaded up on more Coinbase shares Thursday, continuing this week's spending spree as the stock rallies. Ark added 52,813 Coinbase shares to its Ark Innovation ETG, according to its latest trade filing. Shares in the crypto exchange closed up 8.6% to $47.44 Thursday.

On Tuesday, Coinbase revealed plans to cut 950 staff or about 20% of its total headcount. Following an initial dip in pre-market, shares popped shortly after the open and were up more than 7% by midday. Analysts at Needham called the cuts "necessary" and maintained a buy rating on Coinbase. as the fund added Coinbase shares throughout the month. Wood's fund has long been an admirer of the crypto exchange.

Source

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12 Jan 2023 10:20

📢US CPI release today

Expectations leaning on a drop 6.5%

🟢 Bullish if we go below it
🟡 Neutral if it falls within expectations
🔴 Bearish if we go above it

Coin | Trading | News

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11 Jan 2023 05:05

💰 FTX Spent $40 Million Catering To Food, Flights And Hotels In 9 Months

Before finally going bankrupt in November 2022, FTX blew a fortune on high-end lodging, travel, and dining during the preceding nine months. According to documents submitted to the court, FTX spent $40 million on lodging, transportation, and dining between January and September of 2022.

More than 15 million US dollars is going toward high-end hotels and other types of accommodations, while 5.8 million US dollars is going toward a resort. In March, the British royal family stayed at the Grand Hyatt, which is a four-star hotel, costing them a total of $3.6 million. The construction of the Rosewood resort, which has five stars, cost $800,000. The company then filed for bankruptcy in November of that year citing “liquidity issues.“

Source

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09 Jan 2023 04:21

💰 FTX attempting to recover millions donated to charities

Defunct crypto exchange FTX and its founder Sam Bankman-Fried (SBF) donated millions to charities. Now the firm’s new management is trying to recover the donations, the Wall Street Journal (WSJ) reported on Jan. 8.

Federal prosecutors and regulators allege that SBF, FTX, and its affiliates, which include defunct hedge fund Alameda Research, stole user funds and poured billions of dollars into risky bets that did not pan out. FTX and its affiliates filed for bankruptcy in November 2022. SBF pled ‘not guilty’ to multiple counts of fraud earlier this week, and his criminal trial is set for October 2023.

Source

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07 Jan 2023 08:31

🪙 BUSD Sees $5 Billion Reduction in Supply in 24 Days

According to statistics, the stablecoin BUSD saw a significant drop in its supply over the past 30 days, shedding roughly 23.8% from Dec. 5, 2022, to Jan. 6, 2023. Since Dec. 13, 2022, BUSD’s supply has been reduced by more than $5 billion.

BUSD, the stablecoin founded by Paxos and Binance, has experienced a significant reduction in its circulating supply. Data shows that among the top ten stablecoins by market capitalization, BUSD has lost the most between Dec. 5, 2022, and Jan. 6, 2023. Tether managed to increase by 1.1% over the past month, and USDC jumped by 1.8% in the last 30 days.

Source

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05 Jan 2023 04:12

🪙 Bitcoin Miner Stronghold Converts $17.9 Million Of Debt To Preferred Stock

According to a press release on Tuesday, Stronghold Digital Mining, a Bitcoin miner, has reached an agreement with noteholders to convert $17.9 million in convertible debt into $23.1 million in convertible preferred shares.

The transaction marks the Bitcoin miner’s most recent attempt to strengthen its balance sheet. Stronghold reached an arrangement in August to pay off a debt of $67.4 million by returning 26,200 mining machines to the lender NYDIG.In an effort to increase its cash flow, the company terminated a hosting contract with Northern Data of Germany in September. Greg Beard, co-chairman and chief executive officer, stated.

Source

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03 Jan 2023 03:03

💰 ENS Domains Surpassed Over 2.2 Million New Registrations In 2022

Over 2.2 million ENS domains were registered in 2022. This number marks strong growth over the past year. There were around 437,000 new .eth registrations in September 2022, setting a new monthly record. The increase in subscribers peaked prior to an update to The Merge.

Key ENS measures, such as registrations, renewals, and revenue, were at an all-time high, according to Nick Johnson, the project’s developer, in May 2022. ENS domain names must be created as NFTs on the Ethereum blockchain and finish in “.eth.” They can be traded on auxiliary NFT markets. You need a crypto-native browser, such as Brave, to access.eth domains.

Source

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27 Jan 2023 06:35

🇦🇪 Deribit seeking Dubai license to maintain crypto options dominance

Crypto exchange Deribit is setting up shop in Dubai as it works to execute on a new strategy aimed at maintaining its dominance in the crypto options market, the exchange confirmed to The Block. The Dubai office will house staff including management, compliance and support roles.

The move to secure a license in Dubai is part of a broader push by the firm to instill greater confidence in its exchange in the wake of the meltdown of defunct derivatives exchange FTX. The firm also plans to secure a top four auditing firm and release proof of reserves snapshots on a daily basis. "Clients want checkboxes, check for audit, check for custody, check for license," Strijers said. Deribit's marketshare in bitcoin options stands above 90%, according to The Block's data dashboard.

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25 Jan 2023 06:09

🏦 Kraken hires Blockchain.com's former chief compliance officer

Crypto exchange giant Kraken has hired C.J. Rinaldi as its chief compliance officer. Jesse Powell, Kraken's CEO of over 11 years, stepped down on Sept. 21, 2022, and the firm's COO David Ripley assumed the CEO role. Kraken laid off 30% of its workforce on Nov. 30, 2022.

Kraken saw $13.8 billion in monthly crypto exchange volume in December, comprising 2.95% of all crypto exchange volume for the month, according to The Block's Data Dashboard. Rinaldi helped mitigate Blockchain.com's risk and expand its global compliance framework. Before Blockchain.com, Rinaldi worked at Deutsche Bank as chief compliance officer, and prior to that as senior counsel in the Enforcement Division of the U.S. Securities and Exchange Commission.

Source

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23 Jan 2023 05:45

🇦🇪 UAE Promises Enhances Role Of The Crypto Industry In 2023

According to Thani Al-Zeyoudi, the UAE’s minister of state for international trade, cryptocurrencies will go on to play a “major role” in the worldwide trade of the United Arab Emirates. cryptocurrency market would have a significant impact on future UAE commerce while speaking about it.

Al-Zeyoudi presented a number of updates on the UAE’s trade ties and policies going into 2023 in an interview with Bloomberg on January 20 in Davos, Switzerland, where world leaders are presently assembled for the 2023 World Economic Forum. As he said that the essential thing is to maintain global governance when it comes to cryptocurrencies and crypto enterprises, the minister said in reference to the cryptocurrency industry that crypto will play a big role in UAE commerce moving the future.

Source

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21 Jan 2023 06:13

💸 Castle Island, a16z founders back Escape Velocity's $25 million fund

Mahesh Ramakrishnan and Salvador Gala, two 27-year-old Goldman Sachs alumni, have raised $25 million for their crypto-focused venture firm's first fund. the Boston-based firm started fundraising in June last year, when many crypto VCs were licking their wounds.

The pair already have $25 million in hard commitments but the total raised could go up to a $30 million cap before the fund officially closes in the coming weeks, Ramakrishnan said in an interview. Backing comes from founders from several top tier venture institutions such as Andreessen Horowitz (a16z), Castle Island Ventures, Multicoin, Ribbit Capital and Framework Ventures — as well as senior partners from Apollo Global Management, where Ramakrishnan previously worked.

Source

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20 Jan 2023 06:16

🆘 SEC Charged 30 Crypto-related Enforcement Actions In 2022

According to a report from Cornerstone Research, the Securities and Exchange Commission continues to prioritize crypto-related enforcement under Chair Gary Gensler, bringing 30 enforcement actions against participants in the digital asset market in 2022.

According to the report, the SEC filed 24 lawsuits in federal courts in the United States and six administrative cases in 2022. Particularly, the number of lawsuits rose from 14 the year before. Initial coin offerings (ICOs) were the subject of 14 of the 30 enforcement actions in 2022, and fraud allegations were included in more than half of these ICO-related enforcement proceedings. Additionally, the SEC filed groundbreaking charges in 2022 relating to insider trading and market manipulation in the cryptocurrency area.

Source

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19 Jan 2023 06:14

🪙 Circle CEO: Digital Assets Need New Regulatory Definitions

According to Reuters, Jeremy Allaire, CEO of USDC stable currency issuer Circle, said in an interview on the sidelines of the World Economic Forum annual meeting in Davos that major markets such as the United States need new regulatory definitions.

Blockchain technology itself should be considered akin to an operating system, while individual use cases should be regulated individually, Allaire said; the new definition will help make it clearer which regulators are involved in which activities. Additionally, Allaire said that the European Union is leading the way in developing regulations for digital assets, and with the region’s Marketplace in Cryptoassets (MiCA) rules in place.

Source

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17 Jan 2023 06:12

📣 Bithumb ordered to pay damages for outage during bitcoin's 2017 rally: Yonhap

Crypto exchange Bithumb has been ordered to pay $200,000 in damages to more than a hundred investors over an exchange outage during bitcoin's rally in 2017. Bithumb has been ordered to pay each of the 132 investors damages from 8,000 won ($6.47) to 8 million won ($6,470).

The exchange went down for 11.5 hours on Nov. 12 2017, when bitcoin's price fell by $700 to $6,300 on the road to its epic rally to $20,000. The exchange went down because it couldn't handle the number of trades being made, which had doubled in size. The ruling initially went against the investors but it was later overturned on appeal. "The burden or the cost of technological failures should be shouldered by the service operator, not services users who pay commission for the service,".

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15 Jan 2023 12:21

📣 Authorities In Europe Dismantle A Fraud Crypto Network In 4 Countries

Across Serbia, Germany, Cyprus, and Bulgaria, law enforcement authorities in Europe have taken down a network of cryptocurrency fraud. A call center scam allegedly utilized in the cross-border operation stole millions of euros from foreign victims.

Prior to their arrest, the fraudsters are said to have defrauded victims to the tune of tens of millions of euros by using call centers based in Serbia to defraud international victims. Cyprus is also said to have served as the fraudsters’ base of operations for the alleged money laundering operations. Beginning in 2021, the investigation that resulted in the fraudsters’ capture involved both Europol and the European Union Agency for Criminal Justice Cooperation.

Source

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13 Jan 2023 04:47

🔻 DEX Aggregator OpenOcean Now Expands To Optimism

Cross-chain DEX aggregator OpenOcean announced it has expanded to Optimism, allowing users to swap tokens between Optimism and other chains supported by the DEX aggregator. OpenOcean to expand its choices to make it easier for users to deal with cross-chain transactions.

OpenOcean has integrated two bridges, Multichain and Celer, and thirteen liquidity sources on Optimism to provide cross-chain trades. It currently supports over 1,100 cryptocurrencies, seeking to deliver competitive cross-chain swap returns based on various calculations, including price structure, gas fees, slippage, and optimized trading routes. the DEX aggregator also announced integration with WOO Network v2 and supercharger vaults on BNBChain, Avalanche, Fantom, and Polygon.

Source

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12 Jan 2023 06:37

🏦 Voyager Digital And Binance.US Acquisition Received Preliminary Approval

Voyager Digital, a bankrupt cryptocurrency lender, gained preliminary court clearance for its plan to sell $1.02 billion worth of assets to Binance.US. Voyager is trying to hasten the review of its request to sell assets to Binance. US, which can cause the agreement to be delayed or blocked.

The decision was made in the midst of a national security investigation into Binance. The US that Voyager is attempting to accelerate. Judge Michael Wiles permitted Voyager to sign the asset acquisition agreement and request creditor approval on January 10 in the United States Bankruptcy Court for the Southern District of New York, but the sale won’t be complete until a subsequent court hearing, according to a Jan. 11 Reuters report.

Source

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10 Jan 2023 07:36

💰 Charles Hoskinson’s New Hospital Will Accept Cardano (ADA) for Payments

Cardano founder Charles Hoskinson has announced the launch of his new hospital called “Hoskinson Health & Wellness Clinic,” which will allow customers to pay for medical services using ADA, the native token of the Cardano ecosystem.

Announcing the development a few days ago, Hoskinson said the hospital would be open for business by February 2023. However, the Cardano founder did not reveal whether his new medical center will accept other major crypto assets such as bitcoin (BTC) and ether (ETH). According to the hospital’s website, Hoskinson Health & Wellness Clinic is based in Wyoming, United States. The clinic is partly open and will be fully operational next month.

Source

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08 Jan 2023 04:33

📣 Bonk Inu (BONK) Burns Over 5 Trillion Tokens As Its Price Decreases By 50%

Developers behind the Solana-based memecoin project Bonk Inu burnt almost 5 trillion tokens, or 5% of the entire supply, earlier on Friday. The action claimed to have essentially burnt all tokens reserved for project developers.

As prices fell by roughly 50% in the last 24 hours, 5% of the token supply that is allocated to the team has been burned. In the last 24 hours, CremaFinance exchanges and Gate.io have implemented bonk-based trading events and NFT mints, increasing the memecoin’s usability for traders and holders. Over the last five days, over four million transactions were recorded, indicating that holders were actively participating.

Source

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06 Jan 2023 04:28

💰 MoneyGram Required The Court To Seal Parts Of Its Filings In The XRP Lawsuit

MoneyGram asked the U.S. District Court for the Southern District of New York on Wednesday to seal some of the summary judgment documents in the ongoing dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).

MoneyGram stated that it hopes to secure company information and employee names by sealing portions of its documentation for the summary judgment, a sort of judgment normally delivered on the basis of statements and evidence without a full trial. putting an end to a related arrangement that involved on-demand liquidity transactions worth a few billion dollars.

Source

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04 Jan 2023 04:28

⚪️ Justin Sun: Huobi Plans To Reach 100 Million Users By 2023

On January 3, Justin Sun, the founder of TRON and a member of the advisory board of Huobi Global, shared on his account that Huobi plans to reach 100 million users in 2023.Meanwhile, Huobi still needs to explain about Pi Network, accusing the exchange of arbitrarily listing Pi.

Justin Sun is proud to present Huobi Exchange which has 100% uptime and has not had a single security breach in the industry in the past ten years. This is because it operates in an industry where cyber-attacks and hacks are widespread.However, in further development, Pi Network has officially listed on the Huobi exchange. According to the latest statement, Huobi announced it would be opening Pi (Pi Network) spot trading (PI/USDT ) at 09:00 (UTC) on December 29.

Source

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02 Jan 2023 12:33

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