Author: Judith Faith

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Judith Faith

Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.

Articles by Judith Faith

Venom Ventures Fund

UAE investors launch fund targeting web3 projects with $1 billion

1 year ago 1 min read

Venom Ventures Fund is hoping to capitalize on the burgeoning DeFi, gaming, and banking services market that has seen immense growth throughout 2021. The two groups believe that Web3 is “the future of digital assets and financial services” and that their investments will help unlock new opportunities in the space. “We are excited to join forces with Venom Foundation to bring our collective experience and network of resources to a whole new level,” said Knez. The partnership between Venom Foundation and Iceberg Capital marks a major milestone in the development of the blockchain and cryptocurrency space, and highlights the potential

UK Stablecoin

UK Prepares for Digital Currency Launch, Weighs CBDC in Future

1 year ago 1 min read

The UK Economic Secretary to the Treasury, Andrew Griffith, has affirmed that the UK is likely to launch a stablecoin in the near future. Griffith made this announcement while speaking to the UK Parliament Treasury Committee about crypto assets on January 10. The launch of the stablecoin is part of the UK’s commitment to becoming a global crypto hub. The stablecoin will be issued by a third-party provider and will primarily be used for wholesale settlements between banks. The Financial Services and Markets Bill (FSMB) was introduced in July 2022 and is expected to be ready by Easter. The bill,

South Korea's National Tax Service is investigating Bithumb

Bithumb under investigation by South Korean authorities

1 year ago 1 min read

South Korea’s National Tax Service is investigating Bithumb, a cryptocurrency exchange based in the country, for possible tax evasion. Agents of the Seoul Regional Tax Service’s 4th Bureau of Investigation, which looks into “special tax investigations,” searched Bithumb’s headquarters. The investigation is looking into domestic and international transactions of Bithumb Korea, Bithumb Holdings, and its affiliates and whether they have been involved in tax evasion related to the ownership of Bithumb. This is not the first time Bithumb has been investigated by the NTS and its former chair, Lee Jung-Hoon, was recently cleared of fraud charges of $70 million. Additionally,

BlockFi crypto-lender

BlockFi CEO takes $10 million payout as company addresses FTX loan concerns

1 year ago 1 min read

BlockFi, a crypto-lender, recently revealed that its CEO, Zac Prince, withdrew close to $10 million from the platform last year to pay taxes. The funds were made available thanks to a $400 million loan from FTX. In April of 2022, Prince withdrew $9.2 million from the BlockFi platform, followed by an additional $1.36 million in August. This loan followed a period of sector-wide contagion that caused material withdrawals from platforms across the cryptocurrency industry. In addition, FTX provided an additional $15 million to BlockFi insiders in June after a counterparty threatened litigation. BlockFi has stated that the payments were routed

Russia's Central Bank working on CBDC

Russia to develop CBDC payment system amidst sanctions

1 year ago 1 min read

Russia’s Central Bank is planning to start working on a payment system using a digital currency (CBDC) as a way to deal with ongoing sanctions caused by the invasion of Ukraine. The bank will study two possible models for this payment system in the first quarter of 2023. The first model would involve other countries making agreements with Russia to integrate their CBDC systems, while the second model would be a hub-like platform shared with other countries to make payments. Experts think that the second model is more advanced but harder to put into action. The main concern is whether

A former lead engineer at FTX exchange

FTX ex-lead engineer cooperating with federal prosecutors in Bankman-Fried probe

1 year ago 1 min read

Nishad Singh, a former lead engineer at crypto exchange FTX, has been in discussions with federal prosecutors in the Southern District of New York in regards to the case against FTX and its founder, Sam Bankman-Fried. According to a report released on Jan. 10 by Bloomberg, Singh met with the prosecutors to assess if he could give them any useful information about the charges of campaign finance law violations. With his own political donations, Singh could provide an insight into FTX’s political donations and may strike a plea deal if his information is useful. Gary Wang and Caroline Ellison, other

Logan Paul withdraws defamation lawsuit against Coffeezilla, offers apology

YouTube star Logan Paul reverses course, apologizes in defamation case against Coffeezilla

1 year ago 1 min read

Logan Paul, a YouTuber, has deleted a video in which he threatened to sue internet detective Stephen “Coffeezilla” Findeisen over a series of videos that accused Paul’s CryptoZoo project of being a “scam.” According to Findeisen, Paul has promised to drop his plans to file a defamation lawsuit against him and has apologized for his initial response. The dispute began when Findeisen released the first of his three-part video series on December 17, accusing CryptoZoo of various unethical business practices and naming Paul as the face of the project. In his now-deleted response, Paul accused Findeisen of defamation and said,

The former president of FTX US

Former FTX US President Harrison promises to disclose information about exchange

1 year ago 1 min read

Brett Harrison, the former president of FTX US, has stated that he plans to share information about the operations of the crypto exchange. In a Twitter post, Harrison replied to a question about what he knew about FTX US and when, stating simply, “I’ll share in time.” Harrison resigned from his position as president of FTX US in September of last year, prior to the crisis that led to the exchange’s collapse. Prior to joining FTX US in May 2021, Harrison was an executive at Citadel Securities, where he worked in high-speed trading. The former CEO of FTX’s sister trading

Celsius Network

Ex-Celsius CEO faces lawsuit from NY AG for alleged fraud against 26,000 state residents

1 year ago 1 min read

New York State Attorney General Letitia James has filed a legal case against the former CEO of crypto finance company Celsius Network, Alex Mashinsky, alleging that he swindled investors out of billions of dollars worth of crypto. James has accused Mashinsky of making false and deceiving statements to investors, including lying about the number of users of the platform and falsely asserting that it only made secure, low-risk investments, whereas in reality it actually put investors’ funds in high-risk counterparties and strategies. The lawsuit also claims that Mashinsky made unfounded promises to investors, leading to financial ruin for 26,000 New

The U.S. authorities investigating FTX former executive disappearance

US authorities investigate disappearance of former FTX executive

1 year ago 1 min read

The United States Commodities and Futures Trading Commission (CFTC), Securities and Exchanges Commission (SEC), and the Southern District of New York (SDNY) are investigating the disappearance of Nishad Singh, a former executive at the now-bankrupt crypto exchange FTX. Singh served as the Director of Engineering at FTX before the platform declared bankruptcy and has been missing since. The authorities are reportedly looking into Singh’s role in FTX’s collapse and his receipt of over $500 million in loans from Alameda. Singh also held a 7.8% stake in the exchange and donated nearly $8 million to Democrats during the 2022 election cycle.

The SEC filed charges against six individuals CoinDeal

CoinDeal founders arrested for alleged fraud

1 year ago 1 min read

On January 4, 2023, the United States Securities and Exchange Commission (SEC) filed charges in the District Court for the Eastern District of Michigan against six individuals and two companies for their alleged involvement in the CoinDeal investment scheme. The SEC claims that CoinDeal raised over $45 million from the sale of unregistered securities to thousands of investors worldwide, and made false claims about access to valuable blockchain technology that promised returns of over 500,000 times the initial investment. The SEC has also charged AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC in connection with the case. According to

Coinbase crypto exchange has been hit with a $50 million fine

Coinbase faces $50M penalty for AML non-compliance

1 year ago 1 min read

Coinbase has been hit with a $50 million fine by regulators for violating anti-money laundering laws. In addition to the fine, Coinbase has committed to investing an additional $50 million in improving its compliance processes. The issue of cryptocurrencies being used for illegal activities such as money laundering has gained increasing attention from regulators globally. For example, the UK National Crime Agency recently announced the creation of a specialized unit to tackle such crimes. The American exchange has agreed to a total settlement of $100 million with regulators after it was found to have compliance problems with anti-money laundering laws.

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