Author: Karikari Daniel

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Karikari Daniel

I am an avid crypto and blockchain content writer with over 3-years of experience. I am open to writing your PR, blog, news articles, and other crypto-related content anytime.

Articles by Karikari Daniel

US Government Using Banks to Crack Down on Cryptocurrency: Nic Carter

1 year ago 1 min read

The U.S. government is reportedly using the banking sector to crack down on the cryptocurrency industry, according to Nic Carter, co-founder of CoinMetrics. In a guest post for PirateWires, Carter claimed that the Biden administration is executing a coordinated plan to discourage banks from dealing with crypto firms, making it increasingly difficult for them to access onshore banking systems due to unfriendly regulations. This follows recent moves by banks to shut down crypto-related services and the joint statement by the Federal Reserve, FDIC, and OCC warning banks of the risks they face by engaging with crypto firms. Carter suggested that

Voyager Digital Issues Subpoena to FTX, Alameda, and SBF

1 year ago 1 min read

Bankrupt crypto lender Voyager Digital has issued subpoenas to several executives from FTX and its sister firm, Alameda Research. The subpoenas requested copies of documents related to communications between FTX, the SEC, and the Department of Justice. Additionally, the subpoena asked for proof of former CEO John Ray’s statements that FTX-Related Entities “used software to conceal the misuse of customer funds” and “did not keep appropriate books and records.” The subpoenas also covered information relating to the loan portfolio between Alameda and Voyager, as well as FTX’s financial condition before and after its bankruptcy filing in November 2022. U.S. bankruptcy

Aave’s CEO Shares Insights on the Future of Decentralized Finance

1 year ago 1 min read

Stani Kulechov, the founder and CEO of Aave, shared his insights on the DeFi space in a fireside chat with Alex Cohen at the StarkWare Sessions event during ETHTLV 2023 week in Tel Aviv, Israel. During the interview, Kulechov discussed the potential for wider adoption of DeFi and how it offers better risk management compared to traditional finance products. Kulechov believes that stablecoins and payments play a crucial role in onboarding regular people into the DeFi space. By building a payment layer, DeFi can attract regular people, gradually introducing them to other DeFi offerings. However, he also acknowledged some challenges

DeFi Hack Rocks Orion Protocol: $3M Loss in Detail

1 year ago 1 min read

Orion Protocol is the latest decentralized finance (DeFi) platform to fall victim to a malicious attack. The platform suffered a reentrancy exploit on February 2, resulting in the loss of approximately $3 million in ETH. Despite the setback, Orion CEO Alexey Koloskov was quick to reassure users that their funds were safe and that the damage was contained to an internal broker account. Over the weekend, Rekt published a post-mortem of the attack, which concluded that the attacker used manipulated swaps of flash loaned stablecoins to artificially deposit assets twice before withdrawing the inflated balance. The attacker created a fake

South Korean authorities charge Bithumb owner with embezzlement

1 year ago 1 min read

The suspected real owner of South Korea’s largest cryptocurrency exchange, Bithumb, Kang Jong-hyun, has been arrested on embezzlement charges. Kang, who is the elder brother of the head of Bithumb affiliate Inbiogen, is accused of colluding with his brother to embezzle corporate funds and manipulate stock prices. The Seoul Southern District Court issued an arrest warrant for Kang on Jan. 25, charging him with dereliction of duty, market manipulation, and fraudulent transactions. The South Korean National Tax Service agency has also launched an investigation into Bithumb, with investigators raiding its headquarters in Seoul. Bithumb’s largest shareholder, Park Mo, was found

Rally Digital Creator Platform Ends NFT Sidechain Support

1 year ago 1 min read

The Rally social platform has shut down its Ethereum NFT sidechain due to tough market conditions. The sidechain, which allowed users to create social tokens, was built in 2018 but was “expensive to maintain” according to the CEO. In an email sent to users, Rally explained that the challenges and macro headwinds in the crypto industry were too overwhelming to overcome. The shutdown caused a disruption in withdrawal services, making it difficult for users to access their NFTs and the NFTs cannot be transferred to the mainnet. The closure of the website and the decision to shut down the sidechain

Judge Orders Disclosure of Sam Bankman-Fried’s Bail Co-Signers

1 year ago 1 min read

A US federal judge has ruled in favor of news organizations and ordered the disclosure of the co-signers of Sam Bankman-Fried’s $250 million bail bond. Bankman-Fried, the founder of FTX, was arrested and charged with fraud and other crimes. The judge stated that the information sought, the names of the bail co-signers, is traditionally considered public information. The judge postponed his order until February 7th to allow for a possible appeal. Bankman-Fried’s lawyers had argued that revealing the identities could put the individuals at risk. Bankman-Fried has pleaded not guilty to eight charges, including money laundering, and his trial is

Report Reveals Aussie Regulator’s Worries on FTX Months Before Implosion

1 year ago 1 min read

FTX’s Australian subsidiary was flagged by Australia’s financial regulator, ASIC, as much as 8 months before the exchange went bankrupt. According to documents obtained by Guardian Australia, ASIC had concerns about FTX Australia’s operations and license obtained through a company takeover. FTX Australia acquired its license by taking over IFS Markets in Dec 2021 and began operations in Mar 2022, sidestepping the usual level of scrutiny for new licensees. ASIC issued a Sect 912C notice to FTX in Mar 2022, requiring it to provide documents for assessment of AFSL license conditions. The regulator had FTX under surveillance activity and issued

Saudi Arabia’s central bank studying CBDC

1 year ago 1 min read

The Saudi Central Bank (SAMA) is conducting research into Central Bank Digital Currencies (CBDCs) but has not yet announced any plans to deploy such a currency. In a recent statement, the bank stated that it is currently in the midst of a project that focuses on domestic wholesale CBDC use cases in collaboration with local banks and fintechs. However, the bank confirmed that no final decision has been made to launch a CBDC in the country. SAMA is researching various aspects of a state-issued digital currency, including its economic impact, market readiness, and the potential applications of a CBDC-based payment

Hacker Takes Advantage of Wormhole to Move $155M in Largest Crypto Heist in Recent Months

1 year ago 1 min read

The hacker behind the $321 million Wormhole bridge attack has shifted a large chunk of stolen funds, with transaction data showing that $155 million worth of Ether (ETH) was transferred to a decentralized exchange (DEX) on January 23. The Wormhole hack, which took place on Feb 2, 2022, was the third largest crypto hack of the year and resulted in the loss of 120,000 Wrapped ETH (wETH) worth around $321 million. According to the transaction history of the hacker’s alleged wallet address, the latest activity shows that 95,630 ETH was sent to the OpenOcean DEX and then subsequently converted into

Genesis Capital Courtroom Conflict Set to Begin

1 year ago 1 min read

On January 23, the first hearing in Genesis Capital’s bankruptcy case will take place in the United States Bankruptcy Court for the Southern District of New York. At the hearing, Judge Sean H. Lane will decide whether to accept the relief requested under Chapter 11 bankruptcy. The companies have requested a joint administration of the case and the appointment of a committee of unsecured creditors, which will have the right to demand consultation before any major decisions are made. Genesis Capital and its two lending business subsidiaries filed for bankruptcy protection on January 19, citing liabilities up to $10 billion.

Scammers Use Hacked Twitter Account of American TV Sports Channel to Push Ripple Scam

1 year ago 1 min read

The official Twitter account of GOL TV, an American sports channel, has been hacked and used to promote an XRP scam. XRP scams have become a common problem on social media, with scammers impersonating Ripple-affiliated entities and offering false investment opportunities. These scams often involve scammers posing as Ripple CEO Brad Garlinghouse and offering tempting investment opportunities that turn out to be too good to be true. Victims who fall for the scam find themselves with no way to recover their lost funds. Scammers are constantly evolving their tactics to stay ahead of detection efforts by digital asset exchanges, law