Article written by James Wilson

Russia's new law on digital assets requires miners to register, adhere to energy limits

Russia’s new law on digital assets requires miners to register, adhere to energy limits

2 mins read

Russia passed a new law 10 days after it was published that will control crypto mining and digital assets. The law says that miners have to register and stick to rules on how much energy they use. This limits who can mine. Home miners don’t have to be registered if they stay within the energy limits set by the government. People who have been convicted of economic crimes or who

Justin Sun comments on the need for China to embrace crypto-friendly policies

Justin Sun comments on the need for China to embrace crypto-friendly policies

1 min read

Justin Sun, the founder of TRON DAO, has voiced his endorsement for China to enhance its cryptocurrency regulations in response to US President Donald Trump’s backing of Bitcoin as a national reserve. In 2017, China implemented regulations on crypto, classifying them as detrimental, and in 2021, they prohibited their use in order to mitigate inherent dangers and foster financial stability. The People’s Bank of China (PBOC) contends that cryptocurrencies facilitate

Silvergate Bank reimburses all customers and ceases operations

Silvergate Bank reimburses all customers and ceases operations

1 min read

The Federal Reserve Board has terminated all enforcement measures against Silvergate Bank and Silvergate Capital Corporation after the bank’s liquidation, compensation of customers, and termination of banking operations. Nevertheless, the Securities and Exchange Commission (SEC) is currently pursuing a legal case against Silvergate for its suspected involvement in the FTX fraud. Silvergate’s decline commenced in March 2023, amidst the crypto market upheaval instigated by the downfall of FTX. In February

Robert F. Kennedy Jr

Robert F. Kennedy Jr. doubles down on his support for bitcoin during the BTC 2024 conference

1 min read

Robert F. Kennedy Jr., an independent contender for the US presidency, publicly endorsed Bitcoin during his speech at the BTC 2024 conference held in Nashville. He expressed his strong endorsement of Bitcoin and revealed that the majority of his money is invested in it. The topic of Bitcoin has been a highly debated issue throughout the presidential cycle, as the campaign of Republican contender Donald Trump announced in May that

XRP on the Precipice: Price Dips as Community Awaits SEC Meeting Outcome

XRP on the Precipice: Price Dips as Community Awaits SEC Meeting Outcome

1 min read

The price of XRP is currently hovering in anticipation of a crucial meeting between Ripple Labs and the US Securities and Exchange Commission (SEC) scheduled for July 25th. This follows a period of fluctuation for XRP, which had recently climbed to around $0.62 before pulling back slightly. Ripple CEO Bullish on Resolution: Ripple CEO Brad Garlinghouse has expressed optimism that the long-running legal battle with the SEC may be nearing

Defunct Crypto Exchange Mt. Gox Transfers $3.2B in Bitcoin

Defunct Crypto Exchange Mt. Gox Transfers $3.2B in Bitcoin to two anonymous addresses

1 min read

Mt. Gox, a defunct exchange, has resumed transferring funds, sending over $3.2 billion worth of 47,500 Bitcoin to two anonymous addresses. The actual value of Mt. Gox’s assets is likely closer to 42,744 BTC, or $2.85 billion. Plans to pay creditors are underway, as the collapsed exchange issued a repayments statement on July 5. A wallet from Mt. Gox transferred 5,110 BTC, or $340 million, to an unidentified wallet and

The US government transfers $4 million in seized Bitcoin to Coinbase

The US government transfers $4 million in seized Bitcoin to Coinbase

1 min read

Arkham Intelligence, a blockchain data analysis company, has revealed that the US government has transferred $4 million worth of confiscated Bitcoin to Coinbase, a popular cryptocurrency exchange. The funds were derived from a 2020 narcotics case involving Ryan Farace, who used the pseudonym “Xanaxman” on the dark web. Farace and his father, Joseph Farace, were found guilty of money laundering in 2018. The Department of Justice retrieved 2,933 BTC from

ETHTrustFund DAO allegedly stole $2 million and laundered funds

ETHTrustFund DAO allegedly stole $2 million and laundered funds

1 min read

The Ethereum TrustFund DAO, a decentralized autonomous organization (DAO) operating on the Base network, has been said to have engaged in a $2 million rug pull, which is a premeditated exit scam. On July 20, 2024, the project relocated all of its financial resources to a new wallet. The transfer was executed using mixer software such as Tornado Cash and Railgun. ETHTrustFund, inspired by successful initiatives like Olympus and Wonderland,

Fractal ID’s recent data breach, affecting 6,300 customers, was traced back to 2022

1 min read

Fractal ID, a business specializing in decentralized identity, experienced a data breach in 2022 that impacted around 6,300 users. The hack was attributed to an employee who used the same password, utilizing the Raccoon Infostealer malware to pilfer their login information. Fractal ID offers Know Your Customer (KYC) verification services for many cryptocurrency protocols and caters to more than 250 companies. The infiltrated account possessed elevated privileges, enabling the hacker

The SEC approves Grayscale and ProShares Ethereum ETFs

The SEC approves Grayscale and ProShares Ethereum ETFs

1 min read

The US Securities and Exchange Commission (SEC) has approved two exchange-traded funds (ETFs) focused on Ethereum (ETH): the Grayscale Ethereum Mini Trust and the ProShares Ethereum ETF. Following approval from the SEC through a Form 19b-4 filing, these ETFs will be listed on the Arca platform of the New York Stock Exchange. Immediate commencement of trading is not possible, as the final stages involve awaiting feedback on the S-1 filings

Dutch court denies bail for Tornado Cash developer Alexey Pertsev

Dutch court denies bail for Tornado Cash developer Alexey Pertsev

1 min read

Alexey Pertsev, a developer for Tornado Cash, has been refused release on bail by a Dutch court while he challenges a conviction for money laundering. Pertsev received a five-year and four-month prison sentence from a three-judge panel in the Netherlands. Notwithstanding the diligent endeavors of his legal team to get bail and make arrangements for the appeal to be conducted from his residence, the court declined, resulting in his detention

US District Judge advises Coinbase to reconsider subpoena for SEC Chair Gensler

US District Judge advises Coinbase to reconsider subpoena for SEC Chair Gensler

1 min read

The US District Judge Katherine Polk Failla has recommended that Coinbase exchange either abandon or modify its attempts to obtain US Securities and Exchange Commission (SEC) Chair Gary Gensler’s personal communications through a subpoena. The hearing was conducted in response to the SEC’s petition to prevent Coinbase’s subpoena, which granted access to Gensler’s correspondence pertaining to cryptocurrencies. Judge Failla expressed astonishment at Coinbase’s request and recommended that the exchange submit

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