In the aftermath of Terra’s historic debacle, regulatory scrutiny targetting the stablecoin industry through cooperative measures across borders has become urgent to authorities worldwide. According to a recent report, South Korean Justice Minister Han Dong-hoon has discussed with US officials potentially enhancing cooperation in fighting against security fraud and financial crimes. Strengthening Ties on Crypto...Read More
Two retirement systems in Fairfax County, Virginia, distributed $35 million into VanEck’s cryptocurrency lending fund. The administrative region has experience in the digital asset industry since years ago its Police Department pension fund invested in blockchain technology and later displayed intentions to add crypto investment managers. VanEck’s Lending Fund Attracted New Investors As presented on...Read More
The cryptocurrency brokerage firm – Voyager Digital Ltd. – and its two subsidiaries (Voyager Digital LLC and Voyager Digital Holdings) filed for Chapter 11 Bankruptcy with the Southern District of New York. The step comes a few days after the company halted trading, deposits, and withdrawals on its platform. Voyager Digital becomes the latest crypto...Read More
Exposure to shorting Bitcoin’s price saw record inflows of $51 million last week as the asset crumbled below $20,000, a new report showed. Shorting Dominates in the US According to the latest CoinShares’ weekly ‘Digital Asset Fund Flows’ report, a total of $64 million in inflows in the digital asset investment products was observed between...Read More
According to a research conducted by the investing firm Alto, 40% of the American millennials (those aged 26-41) hold cryptocurrencies. Nearly the same share of people own individual stocks, the survey estimated. Millennials and Their Affinity for Crypto The poll further informed that more US millennials had distributed some of their wealth into crypto than...Read More
Her Majesty’s Treasury hosted the regulatory pillar of the US-UK Financial Innovation Partnership with its counterpart, the US Treasury Department, on Jun 29th. Both parties acknowledged the importance of teaming up to support safe innovation and strengthen regulatory outcomes for digital assets across jurisdictions. On Stablecoins According to the joint statement issued, top domestic watchdogs...Read More
The US Department of Justice (DOJ) has indicted 6 people in 4 different cases of cryptocurrency frauds, including Baller Ape NFT rug-pull, worth nearly $130 million. Baller Ape NFT Scam According to a release from the agency, Vietnamese national Le Anh Tuan, 26, pulled down the website and fled with investors’ money after the first-day public...Read More
The Commodity Futures Trading Commission (CFTC), a U.S. federal regulatory agency, charged a South African citizen and a global foreign currency commodity pool with alleged fraud and registration violations worth nearly $2 billion in BTC. Fraudulent Scheme Raked in $1.7 Billion in Bitcoin According to a press release on Thursday (June 30, 2022), the CFTC...Read More
The global investment manager VanEck seems quite determined to introduce a spot Bitcoin exchange-traded fund (ETF) in the United States. Despite its previous rejections, the company filed a new application with the SEC. VanEck Tries Again It has been evident that one of VanEck’s main goals is to list an ETF that tracks the performance...Read More
Shortly after allegations arose that Coinbase had been selling sensitive user data to the Immigrations and Customs Enforcement, the exchange denied them, reassuring that it has always looked out for its users. Citing contract documents it had observed, The Intercept reported earlier this week that it had obtained proof that Coinbase is selling certain data...Read More
Marathon Digital Holdings – one of the leading cryptocurrency mining companies – said that 75% of its operations are currently without power because of a devastating storm that passed recently through the state of Montana. Miners from that region are expected to restore some of their activity during the first week of July. The Thunderstom’s...Read More
US Federal authorities have arrested and charged two 21-year-old men in Virginia with planning a violent robbery of bitcoins worth millions of dollars. The duo had plotted to break into a family’s home in Westchester County, NYC, and force its residents to reveal the code to the private key of the wallet which they thought...Read More
The lawsuit filed by the SEC in December 2020, alleging that Ripple Labs Inc, Brad Garlinghouse, and Chris Larsen illegally used XRP as unregistered security to raise $1.3 billion, continues to be delayed to such an extent that The CEO of Ripple is threatening with the possibility of leaving the country in the event that...Read More
In a lawsuit filled with promises from Do Kwon, the Luna Foundation Guard, and other Terra-related entities, an Illinois-based plaintiff has alleged that all parties involved misled investors about whether all Terra tokens (including UST and LUNA) are actually securities, among other allegations. The lawsuit, filed on Friday in US District Court in Northern California...Read More
Scott Quinn Berkett – a 25-year-old resident of Beverly Hills, Los Angeles – reportedly pleaded guilty to transferring $13,000 worth of bitcoin to a hitman on the Dark Web. The latter was supposed to kill Berkett’s ex-girlfriend. Bitcoin on the Crime Scene According to coverage by CBS News, the California man and his unidentified partner...Read More
The recent bearish trend of the crypto market has brought with it an unprecedented wave of unemployment in the crypto industry, causing financial regulators to step up and absorb as many of those out of work as possible. On June 14, The Financial Industry Regulatory Authority (FINRA) of the United States announced plans to increase...Read More
BlockFi is far from having a peaceful season. Not only the crypto industry is suffering the hits of a bear market, now the crypto lending platform is facing a nearly $1 billion fine imposed by the State of Iowa which could have played a role in a recent decision to cut down its workforce to...Read More
Arizona State University (ASU) – one of the biggest public universities in the States – intends to join the Metaverse and Web3 ecosystems. It also plans to release non-fungible tokens (NFTs) for authenticating event tickets and certificates. ASU to Conduct Classes in a ‘Virtual Environment’ A series of trademark filings with the United States Patent...Read More
New York City Mayor Eric Adams has spoken against the bill that seeks to impose a two-year moratorium on bitcoin mining plants, which are not 100% run by renewal energy in the New York state. He thinks the moratorium can impede the growth of the bitcoin mining industry in the United States. The controversial bill...Read More
A new class-action lawsuit filed against the US branch of the largest cryptocurrency exchange alleges the company of misleading investors and illegally allowing the sale of unregistered securities – LUNA and UST. Filed in the Northern District of California on Monday by law firms Dontzin Nagy & Fleissig and Roche Freedman, the lawsuit reads that...Read More
Bitcoin mining is about to become way harder for US-based miners, not because of the automatic difficulty adjustments but because of local politicians. This time, the state of Washington announced a significant price increase that could make many miners consider moving to another state or even country. On June 01, Chelan County, one of the...Read More
Digital banks keep dealing with a lot of painful regulatory measures and impediments when applying for their operating permits; however, in this case, the Bitcoin Bank Custodia decided to deal with that issue… in a court of law. On May 7, Caitlin Long’s Bitcoin Bank Custodia filed a lawsuit against the Federal Reserve Board of...Read More
Sen. Cynthia Lummis (R-WY) has revealed a sweeping U.S. crypto legalization and regulation bill. Her lead advisor for the initiative, MicroStrategy CEO Michael Saylor, believes bitcoin is a commodity, not a security. The U.S. crypto bill seems to have the support among crypto industry insiders of both Bitcoin maximalists and the Ethereum / DeFi /...Read More
The world’s largest digital asset manager – Grayscale – hired Donald B. Verrilli as additional legal counsel. With his help, the firm aims to receive the SEC’s approval and finally convert its Bitcoin trust into an exchange-traded fund. Grayscale Reinforces Bitcoin ETF Team In a recent tweet, Grayscale raised hopes that Verrilli could be a...Read More
In a first such attempt to counter lobby, the technologists wrote to the US lawmakers terming cryptocurrencies as “risky, flawed, and unproven digital financial instruments.” Counter-lobby Efforts As per the report by Financial Times, the 26 computer scientists and academics, including Harvard lecturer Bruce Schneier, former Microsoft engineer Miguel de Icaza and principal engineer at...Read More
The once-rising star of the GOP Representative Madison Cawthorn is proven to violate the federal STOCK Act that requires lawmakers to report their investments within 45 days after making them. The news came days after the House Ethics Committee had announced an investigation on the Congressman for his possible involvement in a pump-and-dump cryptocurrency project...Read More
The Republican senators – Mike Braun, Tom Cotton, and Marco Rubio – introduced draft legislation focused on the Chinese digital yuan. The lawmakers are against the financial product and believe it should be banned on American soil. China’s CBDC Should Stay Away From the US The e-CNY – a centralized digital currency issued by the...Read More
Despite the recent uncertainty and unfavorable market sentiment, Coinbase has climbed into the list of the Fortune top 500 firms. The exchange registered one of the most significant yearly increases in profits and revenue compared to the previous year. Started in the 1950s, the Fortune 500 list is an annually-published ranking of the largest US...Read More
The French fashion brand – Balenciaga – will reportedly embrace cryptocurrencies as a payment method for its products. Initially, the offering will be available at the firm’s US shops on Madison Avenue in New York and Rodeo Drive in Beverly Hills, Los Angeles. Balenciaga Catching the Crypto Wave According to a recent coverage, Balenciaga will...Read More
The United States Commodity Futures Trading Commission (CFTC) has charged two U.S. residents and their entities for running a cryptocurrency investment scheme that defrauded over 170 investors. CFTC Charges Two Men for $44M Crypto Scam In an official press release, the CFTC alleged that the defendants, Sam Ikkurty and Ravishankar Avadhanam, had fraudulently solicited a...Read More
