South Korean law enforcement officers have reportedly confiscated around 260 billion won ($183 million) worth of cryptocurrencies from local individuals and businesses in two years as they were not abiding by local taxation laws. Not long ago, the authorities targeted the notorious leader of Terraform Labs – Do Kwon. He was accused of gifting tokens...Read More
The Commodity Futures Trading Commission (CFTC) has filed an enforcement action lawsuit against Ooki DAO, a crypto margin trading and lending platform for engaging in digital asset margin trading that only CFTC-registered Futures Commission Merchants (FCM) can perform. Ooki DAO also failed to adhere to customer identification requirements prescribed under the Bank Secrecy Act, the...Read More
Some of the tech-savvy youngsters in Lebanon have reportedly shifted their focus toward cryptocurrencies amid the current monetary crash Earlier this week, the government closed all local banks due to ongoing risks for employees and customers. It remains unknown when the financial institutions will re-open, which might be one reason why locals started looking for...Read More
The US Office of Foreign Assets Control (OFAC) assigned popular crypto tumbler Tornado Cash as an entity on the Specially Designated Nationals (SDN) sanction list last month which triggered an outcry from privacy and free speech advocates. Subsequently, Microsoft-owned GitHub removed its source code as well as terminated the user accounts of three individuals who...Read More
Compute North, which happens to be the latest casualty of the ongoing crypto rout, has filed for a Chapter 11 bankruptcy in the US Bankruptcy Court for the Southern District of Texas. The filing is pending before the Judge Bankruptcy David R Jones. The company’s CEO, Dave Perrill, also stepped down from his position earlier...Read More
Celsius has been grilled by state watchdogs for alleged “financial mismanagements.” In a recent turn of events, Washington’s Assistant Attorney General Stephen Manning filed a motion on September 22nd to Judge Martin Glenn to represent the Washington State Department of Financial Institutions. The filing read, “I certify that I am a member in good standing...Read More
After a few delays in June and July, the Cardano Vasil update went live earlier, and the native cryptocurrency reacted with a price increase. The upgrade is touted as the most significant one for the IOG-backed blockchain since the implementation of smart contracts a year ago. The IOG team took it to Twitter to announce...Read More
The community members of the Internet of Things (IoT) blockchain network, Helium, has voted for a complete transition to Solana to improve network scalability. The HIP 70 proposal published by the Helium Foundation has been in the works for several months. In August, the foundation detailed the reasons behind the core developers’ inclination to Solana...Read More
Uniswap Foundation, the organization that oversees the development of the largest DEX in the world, has stated that its first wave of grants sums up to almost $1.8 million total. According to the official announcement, the grants vary in size and scope and are spread across three areas – protocol growth, community growth, and governance...Read More
Attempting to fight the raging inflation, the Bank of England raised the interest rates by 50 basis points today. BTC’s price remained stable, without any significant volatility, unlike what happened yesterday when the Fed did the same. The inflation rates in many countries skyrocketed in the past several months, and the UK is no exception....Read More
Beleaguered cryptocurrency exchange CoinFLEX has released a restructuring plan more than a month after filing for the same at a Seychelles court. It was one of the several firms to have gone into restructuring following the crypto crash earlier this year. Per the latest blog post, creditors of CoinFLEX will own 65% of the company,...Read More
Jesse Powell, the chief executive officer (CEO) and co-founder of major cryptocurrency exchange Kraken, will step down from his position after leading affairs at the company for more than a decade. This is yet another leadership change in crypto-related companies in the past several months. According to a press release on Wednesday (August 21, 2022),...Read More
C Capital – a company established by Hong Kong billionaire Adrian Cheng – reportedly intends to raise $500 million to invest in digital currencies, credit, and private equity over the next year and a half. The firm thinks the cryptocurrency market has already bottomed, meaning that delving into it now is the perfect timing. ‘When...Read More
The Brazilian authorities reportedly ordered Glaidson Acácio dos Santos (known as “Bitcoin Pharaoh”) to deposit 19 billion BRL (nearly $3.7 billion) in court. This sum will be transferred to more than 122,000 investors and creditors who have become victims of his fraudulent cryptocurrency scheme. Last year, the Brazilian Federal police organized a special mission called...Read More
The authorities of Colorado announced that state residents can now pay their taxes in cryptocurrencies instead of fiat. Among the supported digital assets are the two biggest by market capitalization – Bitcoin (BTC) and Ether (ETH). Still, Colorado’s Revenue Department is not allowed to accept direct crypto payments, which is why it partnered with PayPal,...Read More
The controversial crypto gambling sessions anchored by Twitch celebrities and live-streamed to their followers will be banned effective October 16, Twitch said in a statement. It mentioned that Stake.com, Rollbit.com, Duelbits.com, and Roobet.com, the most notable crypto gambling sites using its platform, will no longer be able to use it to stream their activities. Going forward,...Read More
EOS managed to raise $4.2 billion in its year-long ICO back in 2018. Despite a very hyped start, the project had a rather bumpy ride. After edging close to dissolution, EOS has finally declared “independence.” According to the press release shared with CryptoPotato, EOS block producers have executed a coordinated hard fork to Leap 3.1....Read More
The lawsuit filed in 2019, which claims crypto exchange Bitfinex and its sister company Tether manipulated the crypto market to issue USDT to inflate Bitcoin’s price, has taken a new turn. United States District Court for the Southern District of New York has now ordered stablecoin issuer Tether to produce financial records of USDT to...Read More
The leading financial services company – JPMorgan Chase & Co. – revealed that its clients have drastically dropped their interest in using cryptocurrencies as a payment method in the past few months. However, the organization assured that it will still support consumers who want to employ digital assets as a means of payment. Not so...Read More
The United States Securities Exchange Commission (SEC) has filed a lawsuit against prominent crypto influencer, investor, and entrepreneur Ian Ballina over an initial coin offering (ICO) dating back to 2018. The SEC accused Ballina purchased $5 million worth of SPRK tokens from Sparkster Ltd. and received 30% bonus tokens before he started promoting it on...Read More
The Twitter account of Indian crypto exchange CoinDCX remained compromised for hours on Tuesday. Hackers posted a fake XRP giveaway scheme through the exploited Twitter handle @CoinDCX to the exchange’s over 230,000 followers. The giveaway message was interspersed with a phishing link. CoinDCX Twitter Account Exploited As CoinDCX tried to take control of its compromised...Read More
UK-based crypto market maker Wintermute suffered a loss of approximately $160 million. In a series of tweets, the company’s founder and chief executive, Evgeny Gaevoy, revealed that the decentralized finance operations had been compromised. The centralized finance and over-the-counter verticals have not been affected. Blockchain security expert Certik recorded that $162,509,665 had been stolen over...Read More
Ripple has filed a motion seeking dismissal of the suit ahead of the trial in federal court in Manhattan. The blockchain firm contended that the crypto-asset at the center of the ongoing legal battle – XRP – cannot be considered a security. In a recent filing over the weekend, Ripple argued that there was no...Read More
The largest BTC corporate holder – MicroStrategy – has stayed true to its word by making another bitcoin purchase earlier today. The firm accumulated 301 coins at an average price below $20,000 and rounded up its entire stash to 130,000. MicroStrategy’s founder and executive chairman – Michael Saylor – took it to Twitter today to...Read More
The half-a-century-old financial service giant announced today the formation of a new unit dedicated to the growing cryptocurrency industry. Dubbed Nasdaq Digital Assets, it aims to facilitate the entrance of more institutional participants wanting to explore the asset class. Bloomberg first broke the story, indicating that Nasdaq hired Gemini’s former broker services head – Ira...Read More
The bankrupt crypto lender, Voyager, has signed a non-binding term sheet with SBF-controlled quantitative trading firm, Alameda Research, to secure loans amid the turmoil in the market. The two loans will be primarily denominated in crypto. Voyager-Alameda Deal As per the announcement, the first part of Voyager’s line of credit involves a mix of cash...Read More
In the wake of yet another exploit back in May, which cost Rari Capital upwards of $80 million, members of TribeDAO – a DeFi megaDAO that has Rari Capital as a part of its ecosystem – have voted to restore all funds to affected users. This was the fourth consecutive voting after the hack, but...Read More
The Merge, one of the biggest upgrades in the cryptocurrency industry, turned into a sell-the-news event. While the long-anticipated transition did not light a fire under the Ether’s price, many experts believe it would offer some strong tailwinds in the future. Nevertheless, investors are treading with caution. The figures come amid a relatively low activity...Read More
A hacker managed to steal $3.3 million worth of cryptocurrencies from several Ethereum addresses generated with the “Profanity” tool. The funds were drained even after the decentralized exchange aggregator 1inch warned users about discovering a severe vulnerability putting millions of dollars at risk. It had previously advised users owning wallet addresses generated with the Profanity...Read More
On the nervous global backdrop, the much anticipated “Merge” eventually transpired as a sell-the-news type of event. Cryptocurrencies suffered fresh declines in the wee hours of Monday morning. The global market cap fell to $909 billion, with a trading volume of $79.54 billion over the past 24 hours. Major assets such as Bitcoin and Ethereum...Read More
