The bitcoin mining giant – Argo Blockchain – mined 147 BTC in December, roughly 25% less than the production levels registered in November. The main reason for the decrease was a massive winter storm that hit the US last month and negatively affected the company’s Helios facility in Dickens County, Texas. The Cyclone’s Effect The...Read More
One of the leading bitcoin mining companies – Core Scientific – mined 1,356 BTC in November and 1,435 BTC in December. It also boosted its self-mining hashrate from 15.4 EH/s to 15.7 EH/s. The positive performance comes even though the company filed for Chapter 11 bankruptcy protection at the end of December last year. Over...Read More
Unlike FTX Group executives Caroline Ellison and Gary Wang, who pleaded guilty earlier during the investigation, Nishad Singh – the former chief engineer of the defunct crypto exchange – doesn’t have any charges leveled against him. However, as previously reported by CryptoPotato, Singh’s GitHub appeared to be tied to FTX’s secret Korean account, which was...Read More
The US Securities and Exchange Commission (SEC) charged Neil Chandran and seven other individuals and entities for orchestrating the fraudulent cryptocurrency investment scheme called CoinDeal. The suspects allegedly defrauded investors with around $45 million over the years and used the money to buy real estate, cars, and a boat. Halting the Crime The SEC accused Neil Chandran,...Read More
Daniel Friedberg – the former leading lawyer of crypto exchange FTX – has reportedly given vital information to American prosecutors that could help the authorities during the lawsuit against Sam Bankman-Fried. The attorney is expected to appear in SBF’s trial in October to shed more light on the actions of the 30-year-old while being in...Read More
The American authorities have reportedly seized or will soon confiscate 56 million shares of Robinhood tied to the former CEO of FTX – Sam Bankman-Fried (SBF). The 30-year-old recently sought help from a United States Bankruptcy Court to obtain control of the HOOD stocks. SBF Takes Another Punch According to a Bloomberg coverage, the American government...Read More
Cryptocurrency exchange Coinbase reached an agreement to pay a $50 million penalty to New York state’s Department of Financial Services to settle accusations that it enabled customers to open accounts without conducting necessary background checks. The regulator stated that Coinbase violated the New York Banking Law and the New York State Department of Financial Services...Read More
American banking watchdogs warned domestic financial institutions that delving into the world of crypto could carry various risks, such as fraud. The warning comes as a result of a catalytic 2022, which saw the demise of multiple cryptocurrency giants, including FTX, Terraform Labs, Three Arrows Capital, Celsius Network, and more. The collapse of those firms...Read More
Unlike two of his former colleagues, FTX’s co-founder Sam Bankman-Fried pleaded not guilty to criminal charges that he knowingly cheated investors. US District Judge Lewis Kaplan set the trial date for the start of October. SBF was expected to have his first hearing on January 3 after his arrest in the Bahamas last month and...Read More
The Consumer Price Index (CPI) releases showing the current inflation rate in the USA and the Federal Open Market Committee (FOMC) meetings which determine the rate hikes in the country, have resulted in significant price swings in the cryptocurrency market over the past several months. In the following, we take a look at the events’...Read More
Although the disgraced founder of both FTX and Alameda Research is currently on bail under strict rules, there were multiple suspicious transfers of crypto assets from wallets linked to him or his former empire. Despite refuting any connections, Bloomberg reported that the US authorities plan to investigate the matter. CryptoPotato reported at the end of...Read More
Robert Kiyosaki believes the US regulators will go hard against most alternative coins once they are classified as securities. As such, the author of several best-seller books continues to invest only in bitcoin, which the CFTC and even the SEC have said is a commodity. Kiyosaki on BTC and Altcoins The 75-years old US entrepreneur,...Read More
Former FTX CEO Sam Bankman-Fried, otherwise known as SBF, will enter a plea on January 3, 2023, regarding the criminal charges filed against him in the aftermath of the FTX collapse. The latest development comes shortly after the former crypto boss was released on bail following his arrest and extradition to the United States. According...Read More
Cryptocurrency investor Avraham Eisenberg has been arrested in Puerto Rico on charges of commodities fraud and manipulation for allegedly stealing more than $100 million from decentralized finance (DeFi) protocol Mango Markets. This marks the first time a U.S. resident has faced charges for manipulating a DeFi platform. Eisenberg Drains $110M from Mango Markets Recall that...Read More
In compliance with U.S. sanctions law, OpenSea – the world’s largest NFT marketplace – is delisting Cuban artist and collector accounts from its platform. A recent statement from the company confirms previously held suspicions that its platform discriminates against Cuban users. Compliance With Sanctions In an email received by Artnet News, an OpenSea spokesperson clarified...Read More
The plane carrying the notorious founder of crypto exchange FTX – Sam Bankman-Fried – has reportedly touched down in the United States. He is expected to appear in court in New York City later today (December 22). If convicted on all charges, SBF could go to prison for up to 115 years. A recent coverage...Read More
The co-founder of the bankrupt crypto exchange, Gary Wang, and the former chief executive of Alameda Research, Caroline Ellison, pleaded guilty to federal criminal charges that they helped Sam Bankman-Fried orchestrate a years-long scheme to defraud investors in FTX. This was revealed by the US attorney for New York’s Southern District, Damian Williams. Statement of...Read More
Sam Bankman-Fried, the former boss of the failed cryptocurrency exchange FTX, is flying back to the United States as early as Wednesday. This was revealed by Doan Cleare, the acting commissioner of corrections for the Bahamas Department of Correctional Services, according to a new report by NBC News. Bankman-Fried, who is currently in the Fox...Read More
The number of bitcoin automated teller machines (ATMs) has surged in accordance with the development of the cryptocurrency industry. The first such machine saw the light of day in October 2013. Needless to say, the industry has expanded by leaps and bounds since then, propelling massive interest and, in turn, more ATMs. Currently, there are...Read More
On December 13, 2022, Bahamian authorities denied parole to Sam Bankman-Fried, also known as SBF, after he was charged by U.S. lawmakers with eight counts of financial fraud. As reported by Reuters, Bahamian Chief Magistrate JoyAnn Ferguson-Pratt denied Sam Bankman-Fried’s lawyers’ request for parole, citing a “great” risk of him becoming a fugitive. Therefore, SBF,...Read More
Popular Youtuber Nicholas Merten (DataDash) argued that investors have not rushed to “buy the dip” on worries of the inflation numbers, which clocked in lower than the expectations earlier today. Based on his research, the number of people buying and selling BTC has been dropping each week recently, which indicates that its price will likely...Read More
The American multinational chain of coffeehouses – Starbucks – launched its blockchain-based loyalty program, called Starbucks Odyssey, to its first group of US beta testers. The effort is an extension of the company’s existing project – Starbucks Rewards – and includes coffee-themed NFTs that relate to real-world experiences. The entity displayed its intentions to hop...Read More
A recent study conducted by CNBC estimated that only 8% of American participants currently have a favorable view of cryptocurrencies. Those who supported the asset class in March 2022 were 19%. The market has been through a lot since then – the prices plummeted, the Terra ecosystem crashed, and FTX filed for bankruptcy. Change of...Read More
The former CEO of FTX – Sam Bankman-Fried – said he is “willing” to testify before the relevant US authorities on December 13. He vowed to shed more light on the reasons behind his exchange’s collapse and his own failures as a leader. The US House Committee on Financial Services claimed earlier this week that...Read More
A federal judge dropped the crypto scam lawsuit against the American media personality and businesswoman – Kim Kardashian. Numerous investors of EthereumMax (EMAX) started a legal battle against the famous individuals claiming they had used their popularity to inflate the token’s price by promoting it on social media. Kim Kardashian, Floyd Mayweather, Paul Pierce, and...Read More
Following the controversial interview between Sam Bankman-Fried and journalist Andrew Ross Sorkin at the New York Times DealBook Summit, SBF received a cordial invitation on December 13 from Congresswoman Waters to understand what happened during the FTX collapse. However, SBF declined Waters’s invitation, saying he didn’t feel it was the right time to appear before...Read More
Burdened by regulatory pressures, crypto lending firm Nexo has given up on continuing to operate within the United States. The company announced on Monday that it would begin phasing out its products and services from the country over the coming months. Regulatory Roadblock According to Nexo, the firm has engaged in “good-faith dialogue” with the...Read More
The American authorities ordered Jeremy Spence (a.k.a. “Coin Signals”) to pay over $2.8 million in restitution to victims of his cryptocurrency fraud. The US Department of Justice (DOJ) sentenced the criminal to 42 months in prison in May for running a scheme that defrauded investors with more than $5 million. ‘An Illustration of the CFTC’s...Read More
Silvergate Capital Corporation – a digital asset bank based in California – revealed its deposit relationship to the troubled crypto firm BlockFi was limited to less than $20 million of its total deposits. The latter filed for Chapter 11 bankruptcy protection in the United States earlier this week, becoming the next leading company in the...Read More
New York state governor Kathy Hochul has signed a moratorium on using fossil fuels to power Bitcoin mining operations in the region. The new legislation aims to address environmental concerns in the state to balance its economic development and climate goals. A Two-Year Ban The approved bill targets Bitcoin and other crypto mining companies leveraging...Read More
