Author: Ava Patel

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Ava Patel

Ava Patel's expertise lies in creating engaging and informative content about the latest trends and opportunities in the crypto space. Her writing is known for its clarity, accuracy, and ability to convey complex concepts in a way that is accessible to both novice and advanced readers.

Articles by Ava Patel

North Rock Digital has voiced concern over MicroStrategy’s large purchases of Bitcoin

North Rock Digital Founder: MicroStrategy’s Bitcoin Tactic is a “Joke”

1 year ago 1 min read

Enterprise business intelligence (BI) software vendor MicroStrategy has made headlines with its recent Bitcoin purchases. The company has purchased over 140,000 Bitcoin (BTC), making it one of the largest holders of the cryptocurrency. However, not everyone thinks this is necessarily a good thing for the company. Hal Press, the founder, and CEO of cryptocurrency-focused investment fund North Rock Digital has voiced concern over MicroStrategy’s large purchases of Bitcoin. In a series of tweets posted on April 8, Press stated that it was “comically stupid” to leverage a software company to this end. Press argued that every single one of MicroStrategy’s

the Bureau of Labor Statistics reporting an addition of 236,000 jobs

U.S. Economy Adds 236K Jobs in March, Falling Short of Forecasts

1 year ago 1 min read

The U.S. job market continued its upward trend in March, with the Bureau of Labor Statistics reporting an addition of 236,000 jobs, just shy of economist forecasts for 239,000. This growth is in line with February’s revised gain of 326,000 jobs, indicating sustained strength in the labor market. Alongside this positive news, the BLS also reported a dip in the unemployment rate to 3.5%, beating expectations for 3.6%. These numbers bode well for the U.S. economy, as more people are finding employment and contributing to economic growth. Despite this promising report, the Federal Reserve will have to consider the possibility

Popular crypto influencer Ben ‘BitBoy’ Armstrong has been served by courts

FTX Lawsuit Takes Aim at Popular Crypto Influencer ‘BitBoy’ Ben Armstrong

1 year ago 1 min read

Popular crypto influencer Ben ‘BitBoy’ Armstrong has been formally served by courts on April 5 in connection with allegations that he harassed attorneys involved in the FTX class action lawsuit. Armstrong was one of eight influencers named in the lawsuit for promoting FTX without disclosing their sponsorships and endorsements. Since the lawsuit was filed in March, Armstrong allegedly contacted the plaintiffs’ lawyer, Adam Moskowitz, via emails, social media, and phone calls. The plaintiffs’ attorneys accused Armstrong of leaving voicemails targeting the counsel and threatening Moskowitz with First Amendment protesters around his house 24/7. In response, the lawyers requested a hearing

US regulators issue a temporary ban on trading bot YieldTrust ai

US State Regulators Ban YieldTrust.ai Chatbot Over Alleged Ponzi Scheme

1 year ago 2 mins read

Regulators in Alabama, Montana, and Texas have joined forces to issue a temporary ban on trading bot YieldTrust.ai and its developer Stefan Ciopraga, calling it a Ponzi scheme and an unregistered securities offering. The product offered 2.2% daily staking returns using Artificial Intelligence but offered no proof of trades or profitability. Investors could deposit funds into the smart contract on the BNB Chain and earn rewards from multiple trading strategies. The built-in artificial intelligence reportedly analyzed markets and created a hybrid trading method with “exhilarating performance.” The regulators alleged that YieldTrust.ai did not provide blockchain data or other information to

Cash App Mastermind Dies tragically in San Francisco Stabbing Incident.

Cash App Founder Fatally Stabbed in San Francisco Attack

1 year ago 1 min read

Bob Lee, the former chief technology officer of Square and creator of Cash App, tragically passed away following a stabbing incident in San Francisco in the early hours of Tuesday, April 4, 2023. The news of his death was shared by Bill Barhydt, CEO of Abra, who tweeted about it on April 5. Jack Dorsey, the founder of Twitter and Square, also confirmed the news on the decentralized social media platform Nostr, expressing his heartbreak. The San Francisco Police Department (SFPD) received a report of a stabbing at around 2:35 am local time on April 4. Upon arrival, officers found

Crypto firms in the UK are facing a growing challenge as they struggle

UK Financial Institutions Close Doors to Customers Involved in Crypto

1 year ago 1 min read

Cryptocurrency firms in the United Kingdom are facing a growing challenge as they struggle to access banking services. According to Bloomberg, a number of sources have revealed that banks working with crypto firms are now requesting more documentation and information about how they monitor clients’ transactions. This has resulted in a host of issues for crypto companies, including rejected applications, frozen accounts, and overwhelming paperwork. The situation has become so dire that crypto companies have even resorted to complaining to the government of Prime Minister Rishi Sunak. This is a worrying development for Sunak’s plans to prioritize financial technology disruption

The U.S. Government's bid to prevent the $1 billion acquisition of Voyager Digital's assets by Binance.US

Voyager-Binance.US Merger Hits Roadblock as Judge Sides with U.S. Government’s Antitrust Claims

1 year ago 1 min read

The U.S. Government’s bid to prevent the $1 billion acquisition of bankrupt crypto lender Voyager’s assets by Binance.US has received support from District Judge Jennifer Rearden, who said that the government has a “substantial case on the merits”. Judge Rearden expressed her intention to settle the dispute as quickly as possible, given that delays could cost the estate up to $10 million per month. Earlier this month, U.S. Bankruptcy Judge Michael Wiles approved the sale, but Judge Rearden has put that decision on hold while she considers objections from the U.S. Attorney that the contract effectively grants Voyager immunity by

Senator Warren’s bill seems to unfairly target decentralized finance (DeFi)

Senator Elizabeth Warren Proposes Ban on Cryptocurrency Wallets

1 year ago 2 mins read

Senator Elizabeth Warren of Massachusetts has recently proposed the Digital Assets Anti-Money Laundering Act, which aims to regulate the cryptocurrency industry. While the bill claims to protect consumers from scams, it could do more harm than good by driving cryptocurrency businesses overseas and limiting consumer choice. Additionally, the bill seems to unfairly target decentralized finance (DeFi) and impose unreasonable regulatory burdens on software developers. Warren’s proposal overlooks the fact that not all cryptocurrencies are used for purchases or openly traded. For example, Basic Attention Tokens (BAT) are earned by users of the Brave web browser for watching ads and can

Senator Ted Cruz has proposed legislation to prohibit the Federal Reserve from creating a

Senator Ted Cruz Introduces Legislation to Halt Federal Reserve’s CBDC Agenda

1 year ago 1 min read

Texas Senator Ted Cruz has proposed legislation to prohibit the Federal Reserve from creating a central bank digital currency (CBDC) for consumer use. The proposed bill aims to protect financial privacy by limiting the government’s capacity to track individual transactions, according to Cruz and his supporters. The bill’s introduction comes as a response to concerns raised by Cruz and others about CBDCs. The legislation is designed to ensure that U.S. digital currency policies prioritize financial privacy, encourage innovation, and maintain the dominance of the U.S. dollar. According to Cruz, CBDCs pose a risk of centralizing Americans’ financial information and making

Avalanche (AVAX) Struggles with Network Outage During Upgrade

The Avalanche (AVAX) Network Outage During Upgrade

1 year ago 1 min read

Avalanche (AVAX), the up-and-coming competitor to Ethereum (ETH), recently experienced a brief network outage during a software upgrade. The X-chain, which is used to transfer funds, was significantly slowed down and processed only a few transactions, rendering it virtually unusable. At the same time, block production stopped on the C-chain, which is used for smart contracts. As a result of the outage, several crypto exchanges, including South Korea-based UpBit, temporarily halted AVAX transactions. UpBit released a statement announcing that they would be suspending AVAX deposit and withdrawal services due to a system check on the AvaX wallet. The exchange assured

Blockchain firm Radix Tokens

Blockchain Firm Radix Tokens Secures $10M in Funding for Smart Contract Integration

1 year ago 1 min read

Blockchain firm Radix Tokens has announced a successful funding round that has raised $10 million ahead of the launch of its Babylon mainnet, which will enable smart contract capability on the Radix network for the first time. The funding round was led by market maker and investment firm DWF Labs, bringing Radix Tokens’ valuation to $400 million, according to an email sent by the Jersey-based company on Thursday. Radix Tokens aims to address the risk of hacks in decentralized finance (DeFi) through its Scrypto asset-oriented smart contract language. This language provides developers with a ready-to-use tool for creating assets and

Users of Bitzlato Crypto Exchange Can Now Withdraw Funds Despite Temporary Closure

Bitzlato Crypto Exchange Resumes Withdrawals for Users Following Shutdown

1 year ago 1 min read

The Bitzlato crypto exchange was recently shut down by the US Department of Justice for allegedly engaging in illegal activities. The exchange was accused of facilitating the transfer of over $700 million in illegally obtained cryptocurrencies, as well as assisting in ransomware attacks. However, in a recent development, Bitzlato has restored access for its customers to withdraw their Bitcoin from the platform. The exchange conveyed the message through Telegram, directing users to use the ‘bz_phoenix_bot’ to access 50% of their frozen funds on the platform. While some users have confirmed withdrawing their holdings, others have opted to transfer to other

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