Browsing:Market

US Senator Warren
1 year ago 1 min read

US Senator Warren’s Criticism of Bitcoin Mining Sparks Debate on Crypto Twitter

United States Senator Elizabeth Warren has blamed the Bitcoin mining industry for the increasing energy bills in American households, citing an unverified mainstream report. Crypto Twitter, however, was quick to challenge the allegations and dispel the misinformation. Senator Warren has been known for her critical stance on the crypto ecosystem, and the latest accusations against Bitcoin mining were based on a New York Times article. The report accused Bitcoin miners of exploiting electricity and indirectly burdening the public with rising energy costs. In response, Senator Warren urged the U.S. Environmental Protection Agency and Department of Energy to require cryptominers to

Babel, the Crypto Loan Provider, Secures Lengthened Creditor Protection in Singapore
1 year ago 1 min read

Singapore Grants Babel, the Crypto Lender, Extended Protection for Creditors

Babel Finance, a cryptocurrency lending firm, has been granted an extension on creditor protection by a court in Singapore. This will give the company an additional three months to repay debts to creditors such as Deribit, following the suspension of withdrawals in 2022. The extension will last until July 21, during which time Babel will be able to continue its restructuring plan via a new decentralized finance project called Hope. The Babel restructuring plan includes the issuance of new tokens, known as “Babel Recovery Coins,” which will enable the troubled lender to generate revenue for repaying as much as $800

ChipMixer Founder Accused of Laundering $3B in Bitcoin
1 year ago 1 min read

ChipMixer Founder on the Run From FBI After Being Accused of $3B Bitcoin Laundering

A Vietnamese man is still on the run and is now on the FBI’s most wanted list after being charged with laundering up to $3 billion in Bitcoin and cryptocurrency through the money-laundering service, ChipMixer. Minh Quốc Nguyễn, a cryptographic engineer with an electronic engineering background from Taiwan, was charged by the Justice Department (DoJ) last month with laundering money for ransomware scammers, darknet markets, fraudsters, and state-sponsored actors. Nguyễn created ChipMixer to help criminals bypass know-your-customer and anti-money-laundering measures. The DoJ alleges that the Russian military, state-sponsored North Korean hackers, and a recently-collapsed exchange, possibly the now-defunct FTX, all

The US SEC is reportedly investigating cryptocurrency exchange Bittrex over potential regulatory violations.
1 year ago 1 min read

US SEC Conducting Investigation of Bittrex Crypto Exchange for Possible Violations

The US Securities and Exchange Commission (SEC) is reportedly investigating cryptocurrency exchange Bittrex over potential regulatory violations. The Wall Street Journal recently reported that the Seattle-based exchange may have violated laws as an exchange, broker-dealer, and clearinghouse without first registering with the regulator. Bittrex, which previously announced that it would wind down its U.S. operations from April 30, claims to be cooperating with regulators and has not yet received any formal communication from the SEC regarding the investigation. The SEC has been increasing its scrutiny of the crypto industry in recent years and has taken enforcement action against several companies

SEC Chairman Gary Gensler
1 year ago 2 mins read

US Congressman Proposes Removing Gary Gensler as SEC Chair

In recent months, the U.S. Securities and Exchange Commission (SEC) has come under increasing political pressure for its regulatory approach to the cryptocurrency industry. The latest move against the SEC is a proposed bill by Ohio Representative Warren Davidson, which aims to oust SEC Chairman Gary Gensler and replace him with a director. The proposed legislation comes amid growing concerns from crypto industry advocates about what they view as overreach and extrajudicial crackdowns by the SEC. Commissioner Hester Peirce, also known as “crypto mom,” has been particularly vocal in criticizing the agency’s war on crypto. In response to SEC criticism,

Whale Alert announced large transactions involving tens of thousands of BTC worth more than $856 million
1 year ago 1 min read

Whale Alert: Over $850M Worth of Bitcoin Moved in One Day

According to blockchain monitoring service Whale Alert, large transactions involving tens of thousands of BTC worth more than $856 million took place in just 24 hours. These transfers involved moving BTC between wallets of unknown origin and centralized crypto exchanges. One of the most substantial transactions involved a crypto whale shifting 9,819 BTC worth nearly $300 million from an unknown wallet to another unknown wallet. The cost of moving such a large amount of Bitcoin? Less than $8. In another transaction, a deep-pocketed entity sent 5,503 BTC worth over $165 million between wallets of unknown origin, paying around $10 for

Binance Users Face Weeks-Long Delays for ETH Withdrawals After Shapella Downtime
1 year ago 1 min read

Binance Announces Delayed ETH Withdrawal Requests Following Shapella Upgrade

On April 13th, cryptocurrency exchange Binance revealed that Ethereum (ETH) withdrawal requests may take several weeks to process. This announcement was made just a day after the Shapella upgrade went live on the Ethereum mainnet. The Shapella upgrade is one of the most highly-anticipated events in the crypto space for 2023. It enables ETH validators to withdraw their locked funds. However, Binance stated its need to set a daily redemption quota for each user due to the Ethereum network’s processing limitations. Binance, the world’s largest crypto exchange by trading volume, announced that its users will be able to redeem their

U.S. Congress draft bill on stablecoins set to impact crypto market
1 year ago 1 min read

U.S. Lawmakers to propose new rules for stablecoins

The US House of Representatives has released a new draft bill aimed at establishing a regulatory framework for stablecoins, just ahead of a hearing on the topic scheduled for April 19. The proposed legislation would place non-bank stablecoin issuers under the supervision of the Federal Reserve, with insured depository institutions seeking to issue stablecoins being overseen by the appropriate Federal banking agency. Failure to register could result in a $1 million fine and up to five years in prison. Among the approval criteria is the ability of the applicant to maintain reserves backed by US dollars or Federal Reserve notes,

The recent Kaspersky report highlights the increasing trend of crypto phishing attacks that surged by 40% in just one year.
1 year ago 1 min read

New Kaspersky Report Unveils 40% Surge in Crypto Phishing Attacks within 12 Months

As the cryptocurrency market continues to grow, so does the risk of cyber threats targeting digital asset investors and users. The recent Kaspersky report highlights the increasing trend of crypto phishing attacks that surged by 40% in just one year. The report reveals that cybercriminals are becoming more creative and sophisticated in their tactics to carry out these attacks. They create fake cryptocurrency exchange websites and send phishing emails and messages that trick users into disclosing their private keys and other sensitive information. Phishing attacks are a prevalent form of cyber exploit where an attacker poses as a legitimate entity,

U.S. SEC commissioner Hester Peirce has voiced her concerns over the regulator's new rules
1 year ago 1 min read

SEC Commissioner Hester Peirce Criticizes Exchange Act as a Threat to Free Speech

U.S. Securities and Exchange Commission (SEC) commissioner Hester Peirce has voiced her concerns over the regulator’s new rules to amend the definition of “exchange”. In her statement on April 14, Peirce criticized the SEC’s proposal and current leadership, accusing the commission of “aggressively expanding its regulatory reach to solve problems that do not exist.” Peirce noted that the proposal seeks to embrace stagnation, force centralization, urge expatriation, and welcome the extinction of new technology. The SEC recently reopened the comment period for amendments to Exchange Act Rule 3b-16 Regarding the Definition of “Exchange” after several crypto firms questioned the proposed

US House of Representatives is continuing to press SEC
1 year ago 1 min read

Financial Services Chair McHenry Continues Investigation into SBF Arrest with Second SEC Request

The leadership of the United States House of Representatives Financial Services Committee is continuing to press Securities and Exchange Commission (SEC) Chairman Gary Gensler for records related to the arrest of former FTX CEO Sam Bankman-Fried. Committee chair Patrick McHenry and Oversight and Investigations Subcommittee chair Rep. Bill Huizenga sent a sharply worded letter to Gensler on Feb. 10, demanding records and communications between and among both the SEC’s Division of Enforcement, the Office of the Chair, and the Department of Justice (DOJ). Bankman-Fried was scheduled to appear before the Financial Services Committee, but his arrest prevented him from testifying.

Revault Network Bought Out by Mati Greenspan’s Quantum Economics
1 year ago 1 min read

Mati Greenspan’s Quantum Economics Secures Revault Network Acquisition

On April 13, Mati Greenspan’s Quantum Economics announced its acquisition of Revault Network, a decentralized finance (DeFi) platform that allows users to find the highest-return vaults without the need to choose where to deposit their funds. The acquisition includes assets and intellectual property from the Revault Foundation and its subsidiaries, as well as the transfer of Revault founders’ tokens to Quantum Economics’ own DeFi project, Layered Cake Protocol. Despite the acquisition, Revault Network’s DAO will continue to operate and vote on development decisions. This marks the first time an Israel-based company has purchased a DAO. Revault Network’s REVA token will

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