The U.S. Securities and Exchange Commission (SEC) has filed charges against entities related to Dragonchain along with the founder and controlling person, John Joseph Roets, alleging that the defendants conducted an unregistered cryptocurrency offering. The SEC filed the complaint in the U.S. District Court for the Western District of Washington on Tuesday (August 16, 2022)....Read More
The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the on-chain privacy network and Ethereum-based cryptocurrency mixer, Tornado Cash, making it the second such service provider sanctioned by the agency. A press release on Monday (August 8, 2022), announced that the OFAC updated its specially designated nationals (SDN), to include...Read More
The world’s leading financial derivatives platform – Chicago Mercantile Exchange (CME) Group – revealed intentions to introduce Bitcoin and Ether Futures tide to the euro later in August The company already has a deep history with the crypto industry. A few months ago, it launched micro options on Bitcoin and Ether futures, justifying its move...Read More
Leading American cryptocurrency exchange Coinbase has been hit with another lawsuit. This time, a group of investors claimed that the company made false and misleading statements, which caused its stock price (COIN) to plummet heavily between April 14, 2021, and July 2022 (Class Period). Coinbase went public on April 14, 2021, through a direct listing...Read More
American digital payments company Block Inc.’s second-quarter (Q2) revenue dropped by 6% year-over-year (YOY) to $4.4 billion. Although the numbers still topped Wall Street’s expectations of $4.35 billion, it suffered a loss of $208 million during the quarter, the Associated Press reported. Following the Q2 results, Block shares slipped 5.35% to $84.90 in after-hours trading on...Read More
One of the leading economies in Asia – Japan – will once again have cryptocurrency automated teller machines (ATMs). Despite being a financial hub, the country removed all such devices in 2018 following a hack against a local exchange. The number of cryptocurrency ATMs across the globe has rapidly increased in the past few years....Read More
One of the leading bitcoin mining companies – Riot Blockchain – mined 318 BTC in July – a 28% production decrease compared to June’s figures. The main reason for the crippled productivity was last month’s extremely hot weather in Texas. It caused the company to shut some of its mining rigs in the area as...Read More
The US Department of Justice sentenced the 40-year-old resident of Pelahatchie, Mississippi – Jessica Sledge – to the statutory maximum of 10 years in Federal Prison. In 2021, the woman hired a “hitman” and paid him $10,000 worth of bitcoin to murder her husband. Additionally, the authorities jailed the citizens of Orange County – Jeremy...Read More
The American subsidiary of the world’s leading cryptocurrency exchange – Binance US – disclosed it will no longer support the Amp token (AMP) on its platform. The decision comes as a result of the US Securities and Exchange Commission’s recent insider-trading case, which identified the asset as a security. The financial regulator named nine tokens...Read More
With a score of 8.6 points out of 10, the special administrative region of China – Hong Kong – was crowned as the most crypto-ready country globally. The second position belongs to the previous leader – the United States of America, while Switzerland is third. Changes at the Top The latest worldwide crypto readiness report...Read More
The US State Department vowed to give up to $10 million to anyone who gives valuable information that could be used against North Korean cryptocurrency hacking collectives. The amount is double the previous bounty promised in March 2022. The Agency Needs Help North Korean hacking groups have been a significant burden for the American authorities...Read More
U.S. GDP has contracted for the second consecutive quarter. On July 28, the Commerce Department reported that gross domestic product had fallen by 0.9% between April and June. The United States has been in negative GDP for the first six months of this year, which has traditionally meant that it is in recession. The figure...Read More
U.S. Treasury yields edged up Monday as markets focus on inflation woes and recession risk. All eyes are on a two-day Federal Reserve policy meeting that concluded this Wednesday, and the central authority hiked the interest rates by 75 basis points, as many expected. A slew of tech earnings reports this week and the latest...Read More
The US subsidiary of crypto exchange FTX expanded its range of services offering its American customers the opportunity to trade stocks and Exchange-Traded Funds (ETFs). FTX US’s President – Brett Harrison – disclosed that the offering will be available to citizens of all 50 states, including Puerto Rico and the United States Virgin Islands. Buying...Read More
Word on the street is big tech earnings by FAANG companies for quarter two might disappoint. The question is if this will have an impact on the broader market and, consequently – cryptocurrency. Apple and Amazon will follow with reports Thursday. Big Tech “FAANG” Companies Q2 Earnings Expectations Are Glum Though their earnings won’t directly...Read More
In a case stretching back as far as 2018, Michael Alan Stollery – the CEO of Titanium Blockchain Infrastructure Services (TBIS) – was accused of securities fraud by the SEC due to the way the ICO of his platform was handled. The case reached a turning point this week, as Stollery admitted to one count...Read More
Yuga Labs – the American company that created the popular NFT collection Bored Ape Yacht Club (BAYC) – faces a possible class action lawsuit. A group of individual investors claimed that the firm inappropriately advertised its tokens and thus deceived people into buying them. Yuga Labs and its Unhappy Investors Yuga Labs seems to be...Read More
The American-based bitcoin miner – Compass Mining – intends to add 25,000 ASIC miners to its facility in Granbury, Texas. The deployment is scheduled for August as it will be supported by Compass’ partner – Compute North. Going Forward Despite the Dismissals Compass Mining has been struggling recently due to numerous reasons. In an attempt...Read More
The leading cryptocurrency exchange – FTX – and its American affiliate – FTX US – are reportedly looking to secure additional funding. T At the beginning of the year, the trading venue, spearheaded by Sam Bankman-Fried, closed a $400 million fundraiser, which boosted its valuation to a whopping $32 billion. The financing was led by...Read More
The data center of the bitcoin miner Marathon Digital – Applied Blockchain – secured around 254 megawatts of new hosting power for the company’s operations, and it could boost the supply to 324 megawatts if it collaborates with other providers. The move should aid Marathon’s goal of reaching approximately 23.3 EH/s of computing power for...Read More
The Federal Bureau of Investigation (FBI) warned financial institutions and investors to be careful when dealing with digital assets because the sector is rammed by scammers whose only goal is to defraud people. As of the moment, the agency has identified 244 victims of fraudulent crypto schemes who lost a combined sum of $42.7 million....Read More
ARK Investment Management – a company spearheaded by fund manager Cathie Wood – will reportedly have to wait longer than expected to hear the US SEC’s decision on whether it can launch a spot Bitcoin Exchange Traded Fund (ETF). In May this year, the firm once again displayed its ambitions to introduce a product that...Read More
The number of liquidated traders and the value of liquidations skyrocketed to over $200 million on a daily scale as BTC, and the entire crypto market experienced enhanced volatility following the record-breaking US inflation data. The past several days didn’t go all that well for the primary cryptocurrency, which lost the coveted $20,000 mark yesterday...Read More
In the ongoing US Securities Exchange Commission (SEC) vs. Ripple Labs case, Magistrate Judge Sarah Netburn, on July 12, dismissed the agency’s appeal for the protection of William Hinman’s speech from disclosure. “This argument was previously raised secondarily, with the SEC primarily asserting the deliberative process privilege. The SEC’s motion is DENIED,” she said. The court...Read More
Bitcoin mining companies in Texas turned off their machines in anticipation of extreme weather conditions. In some parts of the state, temperatures are expected to surpass 40 degrees (Celsius) which, combined with the electricity consumption of the aforementioned firms, could lead to outages of the energy network. Brace for the Heat Wave In an interview...Read More
According to an analysis conducted by Bankless Times, cryptocurrencies have grabbed the attention of a significant chunk of America’s population. However, scammers have used this growing popularity to con people in various methods. Romance scams are among the most employed technique since US citizens have parted with $185 million due to such schemes between January...Read More
The United States Office of Government Ethics (OGE) outlined that cryptocurrencies and stablecoins do not qualify as “publicly traded securities” according to the agency’s regulations. As such, it banned individuals who privately own digital assets from participating in Federal policies that could affect the valuation of such tokens. The OGE’s Recommendation In its latest legal...Read More
Solana Labs and key players in the Solana ecosystem were hit with a lawsuit on July 1 in California federal court. The class-action lawsuit was filed by Roche Freedman LLP and Schneider Wallace Cottrell Konecky in the district court for the northern district of California on behalf of plaintiff Mark Young, a resident of the...Read More
Shortly after filing for bankruptcy, embattled cryptocurrency brokerage firm Voyager Digital has reportedly come under scrutiny from the U.S. Federal Deposit Insurance Corporation (FDIC) for claiming that funds were FDIC-insured. According to the Wall Street Journal on Thursday (July 7, 2022), anonymous sources revealed that the FDIC is probing Voyager’s marketing. A statement on the...Read More
One of the leading cryptocurrency mining firms – Riot Blockchain – mined 421 BTC in June this year, a considerable increase compared to the 243 BTC produced in June 2021. The company has also started moving its miners from New York to Texas to reduce some of its costs during the peak energy months in...Read More
