Browsing:Crypto News

FTX founder Sam Bankman-Fried sentenced to 25 years
3 weeks ago 1 min read

FTX founder Sam Bankman-Fried sentenced to 25 years

Sam Bankman-Fried or SBF, the ex-CEO of FTX, has received a 25-year jail term for his involvement in the downfall of the crypto exchange. Judge Lewis Kaplan rebuked the defense’s claims, highlighting Bankman-Fried’s obstruction of justice and interfering with witnesses as crucial elements in determining his punishment. Bankman-Fried acknowledged remorse for his “selfish” choices and said that his errors continue to trouble him on a daily basis. The defense attorneys had petitioned for a reduced term of 6½ years, however, Judge Kaplan favored the prosecution’ stance and opted for a more severe punishment. The victims’ testimonials exposed profound financial and

This Bitcoin whale moves $6 billion in BTC
3 weeks ago 1 min read

This Bitcoin whale moves $6 billion in BTC

A Bitcoin whale has transferred more than $6 billion worth of BTC to three newly created addresses, arousing interest among the crypto community. The transaction, first reported by the blockchain research site Arkham Intelligence, consisted of $5.03 billion worth of BTC being sent to one address (bc1q8yj), followed by $561.46 million and $488.40 million for the other two addresses (bc1q6m5 and bc1q592). The wallet responsible for transferring the $6 billion worth of BTC was ranked as the sixth wealthiest Bitcoin address, with over 94,500 BTC. The transaction did not involve exchanging funds between wallets that are connected to each other,

Bitcoin (BTC) next stop is $80,000?
3 weeks ago 1 min read

Bitcoin (BTC) next stop is $80,000?

With the approaching Bitcoin halving in April 2024, the crypto market is actively engaging in talks about the future direction of Bitcoin’s price. Crypto researcher Michaël van de Poppe forecasts a substantial increase in Bitcoin’s price, ranging from $75,000 to $80,000, leading up to the event. This forecast is derived from the ongoing consolidation phase of Bitcoin, suggesting a gradual accumulation up to a test of its previous peak, followed by a possible decline. The Bitcoin halving, set to take place in April 2024, is a significant event that has a historical impact on the market dynamics of Bitcoin. The

Mantle (MNT) surges over 40% in the last 24 hours
3 weeks ago 1 min read

Mantle (MNT) surges over 40% in the last 24 hours, hitting new all-time highs

Mantle (MNT) is a blockchain operating at Layer 2 (L2) that has had a significant increase of 40% during the last 24 hours, hitting its highest value ever at $1.49. Mantle Network functions as a scaling solution for Ethereum Virtual Machine (EVM) that is compatible with Optimistic rollups, enabling speedy and economical transactions. The modular architecture of the system integrates Optimistic rollups with a distinct data availability layer, resulting in decreased transaction costs and enhanced network efficiency. The current increase in MNT may be ascribed to the implementation of MNT staking, which entails users contributing to the security and functioning

A federal court has determined that the case filed by the US SEC against Coinbase will continue.
3 weeks ago 1 min read

Judge rules SEC vs. Coinbase case to proceed

A federal court has determined that the case filed by the US Securities and Exchange Commission (SEC) against cryptocurrency exchange Coinbase will continue. US District Judge Kathrine Failla ruled in favor of the SEC’s action, affirming that Coinbase functions as an exchange, broker, and clearing agency according to federal securities laws. Additionally, the judge found that Coinbase is involved in the unregistered offer and sale of securities via its Staking Program. Nevertheless, the court approved Coinbase’s request to dismiss the Securities and Exchange Commission’s allegations against Coinbase Wallet. Paul Grewal, the chief legal officer of Coinbase, said that the court

Ondo crypto has had a significant jump
3 weeks ago 1 min read

Ondo token surges 30%, reaching ATH amidst market rebound

Ondo crypto has seen a substantial increase in worth during the last 24 hours, hitting a record-breaking value of $0.9494. Ondo has had a significant jump, contributing to a larger favorable trend, with a remarkable 96% gain in the last seven days. The crypto’s price boom has been accompanied by a significant 138% rise in trading volume and a 30% increase in market capitalization, resulting in Ondo’s position at 82nd place in the top crypto rankings. Significant transactions involving large holders, sometimes referred to as “whales,” have occurred using Ondo tokens. Notable examples include Whale “0x56F9” taking $6.53 million from

FTX exchange plans $884M stake sale in AI startup Anthropic to repay creditors
3 weeks ago 1 min read

FTX exchange plans $884M stake sale in AI startup Anthropic to repay creditors

The insolvent crypto exchange FTX plans to divest a substantial chunk of its stake in the artificial intelligence firm Anthropic for $884 million. This move aims to repay its creditors and enhance its financial well-being. The transaction will include investors such as ATIC Third International Investment Company LLC, Jane Street, Fidelity Management and Research, and HOF Capital. FTX made a $500 million investment in Anthropic in 2021, however Anthropic went bankrupt because of accusations of fraud. The startup has achieved substantial success in the field of artificial intelligence, securing investments from Amazon and Google’s Alphabet Inc., which have elevated its

Ripple Labs is now embroiled in a $2 billion legal dispute with the Securities and Exchange Commission (SEC)
3 weeks ago 1 min read

Ripple (XRP) faces $2B SEC fine, vows to fight in ongoing crypto clash

Ripple Labs is now embroiled in a $2 billion legal dispute with the Securities and Exchange Commission (SEC), as stated by Ripple’s chief legal officer, Stuart Alderoty. Alderoty condemned the SEC for using deceptive strategies and accused it of attempting to frighten both Ripple and the broader industry. Ripple CEO Brad Garlinghouse expressed disapproval of the Securities and Exchange Commission’s (SEC) request for $2 billion, deeming it exorbitant. He referenced the DEBT Box case, in which Judge Robert Shelby reprimanded the SEC for engaging in fraud. The current legal dispute between the SEC and Ripple centers on the classification of

The European Securities and Markets Authority (ESMA) has finalized its first set of rules for suppliers of services related to crypto assets
3 weeks ago 1 min read

EU sets new crypto rules to boost transparency and safety for investors

The European Securities and Markets Authority (ESMA) has finalized its first set of rules for suppliers of services related to crypto assets in accordance with the Market in Crypto Assets (MiCA) legislation. The objective of the EU’s action is to enhance transparency, guarantee the security of investors, and provide clear guidelines for laws across the EU. The study provides a comprehensive overview of the prerequisites that crypto firms must meet while operating in the European Union under the Markets in Crypto-Assets Regulation (MiCA). This includes information on obtaining regulatory clearance, the range of services that may be supplied, and the

Dogecoin's (DOGE) co-founder wishes for Bitcoin to hit $1M
4 weeks ago 1 min read

Dogecoin’s (DOGE) co-founder wishes for Bitcoin to hit $1M

Billy Markus, one of the co-founders of Dogecoin, jokingly expressed his desire for Bitcoin to attain a value of $1 million per coin, even though the market prices of cryptocurrencies are constantly changing. The assertion, sometimes referred to as “Shibetoshi Nakamoto,” arises after Bitcoin saw an 11% decline from its peak value of $73,737, subsequent to a 134% surge over the course of the year. Presently, Bitcoin has had a little rebound, with a 1.39% increase to $65,839, after a decline to $60,760 last week as a result of diminished demand for US exchange-traded funds (ETFs) that hold Bitcoin. While

Iceland's Prime Minister has announced plans to reduce cryptocurrency mining due to its high energy use
4 weeks ago 1 min read

Iceland’s Prime Minister to reduce crypto mining due to its high energy use

Iceland’s Prime Minister, Katrín Jakobsdóttir, has announced plans to reduce crypto mining due to its high energy use, surpassing that of Icelandic homes. This aligns with a Bloomberg report highlighting the rise in demand for old Bitcoin mining equipment in places with cheaper electricity, particularly from the US. Iceland is known for its abundant hydro and geothermal energy, making it a prime spot for Bitcoin mining and the top energy producer per capita globally. However, Jakobsdóttir aims to shift this energy towards boosting food production and supplying power to homes and industries. The future of Iceland’s crypto mining sector appears

BlackRock favors Bitcoin over Ethereum
4 weeks ago 1 min read

BlackRock favors Bitcoin over Ethereum, with limited client interest in other cryptos, says executive

BlackRock, a leading investment firm, has shown moderate interest in Ethereum from its clients, with Bitcoin being the predominant preference. The firm’s head of digital assets, Robert Mitchnick, stated that interest in other crypto is notably lower. Mitchnick also addressed rumors about BlackRock launching an ETF for the memecoin dogwifhat (WIF), admitting he was unfamiliar with the coin. The recent launch of the Bitcoin Bitcoin Fund (IBIT) marked a significant turn in BlackRock’s approach to digital assets, attracting $15 billion in assets and recognizing persistent client demand for Bitcoin. BlackRock also ventured into the Ethereum space with its BUIDL fund,

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