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. She is passionate about helping to foster the growth of the industry and believes in the power of blockchain technology to revolutionize the world.

Articles by Judith Faith

Iran and Russia propose gold-backed stablecoin

2 months ago 1 min read

The Central Bank of Iran and the Russian government are reportedly working together to jointly issue a new stablecoin backed by gold. According to Alexander Brazhnikov, executive director of the Russian Association of Crypto Industry and Blockchain, the stablecoin will be used as a payment method in foreign trade, enabling cross-border transactions instead of traditional fiat currencies like the US dollar, Russian ruble, or Iranian rial. This new cryptocurrency, referred to as a “token of the Persian Gulf region,” will reportedly operate in a special economic zone in Astrakhan, where Russia has already started accepting Iranian cargo shipments. However, the

Thailand’s Central Bank to Allow Virtual Banks by 2025

2 months ago 1 min read

The Bank of Thailand has announced plans to allow virtual banks to operate in the country for the first time. According to a report from Bloomberg, financial firms will be able to provide services by 2025. The central bank has published a “Consultation Paper on Virtual Bank Licensing Framework,” which states that applications for virtual banks to act as financial service providers will be available later in 2023. The move is aimed at increasing competition and boosting Thailand’s economic growth. The Bank of Thailand will issue three different licenses for interested companies by 2024, with at least 10 parties expressing

Scaramucci Invests in Crypto Startup Led by Ex-FTX US CEO

2 months ago 1 min read

SkyBridge Capital founder Anthony Scaramucci has announced that he will be investing in a new crypto company founded by the former president of FTX US, Brett Harrison. Scaramucci, who will be investing his own personal funds, stated in an email to Bloomberg that the crypto software company, which has yet to be named, will allow crypto traders to create algorithmic-based strategies to access different markets, both centralized and decentralized. Harrison has been seeking a fundraising target as high as $10 million for a $100 million valuation. In a tweet on January 14th, Scaramucci expressed his excitement to be an investor

Alameda liquidators suffer losses on Aave DeFi platform

2 months ago 1 min read

Alameda Research, a decentralized finance (DeFi) lending platform, recently experienced a significant loss of funds due to liquidation. According to crypto intelligence firm Arkham, the liquidators for Alameda Research were liquidated for a total of $72,000 from an on-chain position on the Aave platform. The incident occurred while the liquidators were attempting to consolidate funds from Alameda wallets into a single multi-sig wallet. In the process of exiting a borrow position on Aave, the liquidators removed extra collateral, putting the funds at risk of liquidation. As a result, the position was liquidated twice in a span of just nine days,

Squid Game Crypto Scammer Captured by Law Enforcement

2 months ago 1 min read

A journalist’s investigation has led to the discovery of the originators of the SQUID token scam, which used the name of the popular Netflix show Squid Game to trick people into investing in a cryptocurrency that had no connection to the show. The scam, which took place over one year ago, resulted in a financial loss of $16 million for its victims. Investigative technology journalist Janhoi McGregor and tech expert Ciaran O’Connor began their investigation by using a video of the scam, which was watermarked with the name of one of the suspects, as their starting point. They were able

Founder of FTX Sam Bankman-Fried: I Did Not Steal Money

2 months ago 1 min read

Sam Bankman-Fried, former CEO of FTX, has denied allegations against him in a recent post on Substack regarding the crypto exchange’s insolvency. In his post, Bankman-Fried claims that FTX US was “fully solvent” at the time of filing for Chapter 11 bankruptcy, with approximately $350 million in cash on hand. He also states that pressure from Sullivan & Crowell and the FTX US general counsel led to the naming of John Ray as CEO, potentially disrupting efforts to make affected users “substantially whole.” Bankman-Fried denies any involvement in the allegations that Alameda, a company under the FTX umbrella, used user

BONK Suffers 35% Price Decline

2 months ago 1 min read

The digital currency market has been on a roll in the past 24 hours, with the combined crypto market cap surging 3.38% to $884.61 billion. However, one coin that has not seen the same success is Bonk (BONK), a meme coin that has experienced a significant price slump. BONK’s current price is trading at $0.000001017, a 35.17% decrease in the past 24 hours. This makes it one of the top losers in the crypto market. The reasons for its decline can be attributed to its rapid growth at the beginning of the year, as well as a retail buying frenzy

Binance Secures Swedish Approval for European Expansion

2 months ago 1 min read

Binance, the world’s leading cryptocurrency exchange, has received approval from the Swedish Financial Supervisory Authority to operate as a financial institution in the country. This means that Swedish residents can now access Binance’s crypto services, including euro deposits and withdrawals. This approval is a significant step in Binance’s ongoing expansion in Europe. The exchange has already received approval from six other European Union member states, including France, Italy, Lithuania, Spain, Cyprus, and Poland. Despite the ongoing challenges faced by the Web 3.0 industry, Binance is continuing to expand its operations. The company plans to increase its headcount by 15% to

UAE investors launch fund targeting web3 projects with $1 billion

2 months 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 Prepares for Digital Currency Launch, Weighs CBDC in Future

2 months 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,

Bithumb under investigation by South Korean authorities

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

3 months 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