Ava Patel

The UK’s FCA defends strict crypto regulations to prevent money laundering

October 22, 2024 2 mins read

The Financial Conduct Authority (FCA) in the UK is standing firm on its stringent regulations for cryptocurrency companies, despite some pushback from the industry. The FCA believes these rules are essential for preventing money laundering and maintaining the integrity of the UK’s financial system. Val Smith, who leads the FCA’s payments and digital assets division, emphasized that the rigorous registration process for crypto firms is designed to create a safe

Algorand’s User Base Surges by 34%

October 22, 2024 2 mins read

The Algorand Foundation recently shared its monthly report, highlighting a remarkable increase in user engagement on the platform throughout September. This surge in activity, particularly in Daily Active Users (DAU), was largely attributed to the introduction of Algorand Coinbase Learning Rewards, which launched in mid-September. This initiative helped DAUs soar to around 180,000, marking a significant rise of nearly 34% in Monthly Active Users (MAUs) compared to August. To put

Ripple CEO Brad Garlinghouse accuses the SEC of defying court rulings on XRP

October 15, 2024 1 min read

The ongoing clash between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) shows no signs of resolution. Recently, Ripple’s executives took to social media to voice their discontent, claiming that the SEC has disregarded a recent court ruling regarding XRP. Stuart Alderoty, Ripple’s Chief Legal Officer, continues to challenge the SEC’s assertion that XRP qualifies as a security, despite a favorable ruling from the court. Ripple’s CEO, Brad

An 86-year-old ex-lawyer was sentenced to probation and ordered to repay $14M

October 11, 2024 1 min read

In a striking case that underscores the perils of trust in the digital investment landscape, 86-year-old former California lawyer David Kagel has been sentenced to five years of probation and ordered to repay nearly $14 million for his role in a crypto Ponzi scheme. Kagel, who pleaded guilty to conspiracy to commit commodity fraud, exploited his legal credentials to lure investors into a fraudulent crypto trading bot program that promised

Taiwan’s Financial Supervisory Commission (FSC) plans to launch custody services of open digital assets

October 10, 2024 1 min read

Taiwan is gearing up to embrace the world of digital assets, as the Financial Supervisory Commission (FSC) announces a trial program for custody services set to launch in early 2025. Three local banks are stepping up to provide secure storage for popular cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. The FSC has established stringent guidelines for these banks, requiring them to clearly define the assets they will support and their intended

Qubetics’ Presale Progresses as SEI Reports 50% MoM Surge and Celestia Overcome Supply Challenges

October 9, 2024 4 mins read

The rise of cryptocurrencies has transformed the way we think about money and transactions. Among the most innovative projects is Qubetics ($TICS), a platform dedicated to bridging the gap between digital assets and everyday financial activities. As Qubetics prepares for its presale, having already raised over $1 million in less than 24 hours, it’s clear that this project is making waves in the digital economy. In this article, we’ll explore

Binance, the largest cryptocurrency exchange, has clarified its stance on requests from the Israeli military to freeze crypto wallets associated with Palestinians. Nils Anderson Röed, Binance's global head of financial investigations, emphasized that the company does not simply comply with such requests without thorough investigation. In a recent interview, he explained that Binance employs independent open-source intelligence research to verify claims made by authorities like the Israeli Defense Forces (IDF). In late August, Binance CEO Richard Teng refuted allegations that the exchange had frozen all Palestinian wallets at the IDF's request. He revealed that the IDF had asked for over 1,500 wallets to be frozen, but upon investigation, Binance found that only about 220 of those wallets, or 14%, were linked to illicit activities as defined by international law. Only these wallets were subsequently blocked from transactions. Röed highlighted the importance of cross-checking information, noting that there can be discrepancies between what the IDF claims and what Binance's investigations reveal. For instance, while the IDF might associate a wallet with terrorism financing, Binance may have evidence suggesting it is linked to charitable activities. In such situations, the financial investigations team consults with legal experts and the relevant law enforcement bodies to ensure compliance with international law while protecting user rights. This approach underscores Binance's commitment to a balanced and lawful response to requests from authorities.

Binance rejected 86% of requests by Israel to freeze Palestinian users’ crypto wallets

October 6, 2024 1 min read

Binance, the largest cryptocurrency exchange, has clarified its stance on requests from the Israeli military to freeze crypto wallets associated with Palestinians. Nils Anderson Röed, Binance’s global head of financial investigations, emphasized that the company does not simply comply with such requests without thorough investigation. In a recent interview, he explained that Binance employs independent open-source intelligence research to verify claims made by authorities like the Israeli Defense Forces (IDF).

Matt Sorg, Vice President of Technology at the Solana Foundation

Solana’s VP reveals how the blockchain tackles scaling and congestion to maintain high speed

October 5, 2024 2 mins read

Matt Sorg, Vice President of Technology at the Solana Foundation, recently shared insights on how Solana is tackling challenges related to scaling and network congestion while maintaining its reputation for high-speed and low-cost transactions. In an interview, he highlighted that Solana processes more daily transactions than all other blockchains combined, positioning it as a leader in the blockchain space. To stay ahead in the rapidly evolving blockchain ecosystem, Solana is

Telegram’s disclosure of user data to law enforcement since 2018 has sparked concerns in the crypto community

October 4, 2024 1 min read

Telegram CEO Pavel Durov has revealed that the platform has been sharing user data, including IP addresses and phone numbers, with law enforcement since 2018. This admission has raised concerns among crypto security experts about potential threats to user privacy and the principles of decentralization that are crucial to the crypto community. Despite the backlash, the price of Toncoin has remained stable, with no significant market reaction observed. Durov, who

Energy Web Launches AutoGreenCharge Beta App to Decarbonize EV Charging, Secured by Polkadot

October 2, 2024 3 mins read

Energy Web’s innovative app enables EV owners to decarbonize charging sessions with renewable energy Energy Web is proud to announce the beta launch of AutoGreenCharge, a mobile app designed to decarbonize electric vehicle (EV) charging. With AutoGreenCharge, users can ensure that every EV charging session is powered by renewable energy. The app is accessible to owners of popular electric vehicles, including Tesla, BMW, Mercedes, and others, bringing the promise of green

Mark Zuckerberg’s bold bet on the metaverse skyrockets his net worth to $201 billion

September 30, 2024 1 min read

Mark Zuckerberg’s bold leap into the metaverse has skyrocketed his net worth to an astonishing $201 billion, nearly six times what it was just two years ago, thanks to a remarkable 60% surge in Meta Platforms Inc.’s stock this year. Now the fourth richest person in the world, he stands behind titans like Jeff Bezos, Bernard Arnault, and Elon Musk. However, the metaverse is a hotbed of debate. While Zuckerberg

Dione Protocol Launches Odyssey: A Sustainable Layer 1 Blockchain Solution Powered by Green Energy

September 28, 2024 7 mins read

Dione Protocol, a leader in sustainable blockchain technology, proudly announces the launch of Odyssey, a groundbreaking Layer 1 (L1) blockchain solution committed to renewable energy. Since its inception in 2022, Dione Protocol has focused on integrating blockchain technology with clean energy solutions to tackle pressing challenges in the global energy sector. With the unveiling of Odyssey, Dione Protocol makes a significant stride toward promoting sustainability within the blockchain ecosystem. In recent years,

Author: Ava Patel

Article written by Ava Patel