Crypto News
Dormant Bitcoin Wallet Transfers $35 Million Worth of BTC After 12 Years
A Bitcoin wallet that has been inactive for 11.7 years has suddenly sprung to life. The wallet has transferred its entire balance of 500 BTC, worth just under $35 million at current prices, to multiple new addresses. Key points: According to data provided by Lookonchain, a blockchain analytics platform, the wallet in question originally received …...
Solana Foundation Weighs In on Racist Meme Coin ControversyÂ
The recent proliferation of meme coins on the Solana blockchain with racist themes and offensive names has ignited a heated debate within the cryptocurrency community. During a panel discussion at the BUIDL Asia summit in Seoul, experts weighed in on the issue. They discussed whether wallet apps, decentralized exchanges, and nodes should take steps to …...
UK Judge Freezes $7.6M of Craig Wright’s Assets Amid Satoshi Nakamoto Claim Fallout
A UK judge has approved the freezing of £6 million ($7.6 million) worth of assets belonging to Craig Wright. Wright is an Australian computer scientist who claimed to be Satoshi Nakamoto, the creator of the Bitcoin network. Judge James Mellor issued the court order to stop Wright from moving his assets offshore and avoid court …...
Ethereum Co-Founder Vitalik Buterin Calls for Positive-Sum Meme Coins
In a recent blog post, Ethereum co-founder Vitalik Buterin called for a more positive approach to meme coins and crypto games. Buterin also urged developers to create projects that contribute positively to the ecosystem and the world at large. Buterin’s post comes amidst growing concerns about the rise of meme coins, particularly on the Solana …...
Detained Binance Executive Sues Nigerian Authorities
Tigran Gambaryan, a detained executive from the global cryptocurrency exchange Binance, has filed a lawsuit against Nigeria’s National Security Adviser and the Economic and Financial Crimes Commission (EFCC). Gambaryan accused the government of allegedly violating his basic human rights. Local sources state that Gambaryan’s move alleges violations of the Nigerian constitution in relation to his …...
US and UK Investigate $20B USDT Transactions Linked to Russia’s Garantex
The US and the UK are currently reviewing more than $20 billion worth of USDT transactions that have passed through Garantex, a Russia-based crypto exchange, according to Bloomberg. This investigation is part of the ongoing efforts by the allies to clamp down on sanctions evasion that has been supporting Russian President Vladimir Putin’s war in …...
$336.3M Lost in Crypto Hacks and Fraud in Q1 2024: Immunefi
In a recent report, Immunefi, a leading web3 bug bounty and security services platform, stated that the crypto ecosystem experienced a 23.1% decrease in losses during the first quarter of 2024 compared to the same period in 2023. Despite this decline, the report highlights that the industry still lost $336.3 million to hacks and fraud …...
Sam Bankman-Fried Sentenced to 25 Years in Prison for FTX Fraud
Sam Bankman-Fried, the disgraced founder and former CEO of the now-defunct cryptocurrency exchange FTX, has been sentenced to 25 years in prison by a Manhattan court. The sentencing comes after Bankman-Fried’s conviction in November on seven counts of fraud and conspiracy related to the operation and subsequent collapse of FTX. The collapse of FTX resulted in the …...
Nexo Introduces Free, Instant Crypto Transfers via Email And Phone
Nexo has announced a new feature that allows users to send and receive cryptocurrencies and stablecoins between accounts instantly and without fees. This addition to the platform enables individuals to transfer crypto by simply entering the recipient’s Nexo platform-registered email or phone number, facilitating seamless peer-to-peer (P2P) transactions. Read more: Dutch Prosecutors Recommend 64-Month Jail …...
UK Cracks Down on Crypto Memes and Social Media Influencers
The UK Financial Conduct Authority (FCA) has released finalized guidance that brings social media influencers and crypto memes under the radar of the country’s financial promotion rules. The move comes as part of the regulator’s efforts to combat the rise in financial scams and misleading advertisements, particularly in the crypto sector. Key highlights: Published on …...
Dutch Prosecutors Recommend 64-Month Jail Time For Tornado Cash Developer
Dutch prosecutors have recommended a 64-month jail sentence for Alexey Pertsev, a developer of Tornado Cash. The two-day trial, held in the ‘S-Hertogenbosch court in the Netherlands on Tuesday and Wednesday, centered on accusations that Pertsev had engaged in money laundering activities. Key points: Read more: Tether (USDT) Leads Cryptocurrencies In Illegal Transactions: TRM Labs …...
Tether (USDT) Leads Cryptocurrencies in Illegal Transactions: TRM Labs
A recent report by blockchain analytics firm TRM Labs sheds light on the state of illicit activity within the cryptocurrency ecosystem in 2023. The report, titled “The Illicit Crypto Economy,” reveals that the total amount of illicit funds in the crypto space has decreased by 9% compared to 2022. However, criminals still managed to handle …...
Judge Allows SEC’s Lawsuit Against Coinbase to Proceed, Dismisses Exchange’s Motion
In one of the most recent developments in the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Coinbase, a federal judge has ruled that the SEC’s case against the cryptocurrency exchange can move forward. Judge Katherine Polk Failla of the U.S. District Court for the Southern District of New York denied …...
KuCoin Indicted for Alleged Multi-Billion Dollar Criminal Conspiracy
Global crypto exchange KuCoin and two of its founders, Chun Gan and Ke Tang, have been indicted by U.S. authorities for allegedly conspiring to operate an unlicensed money transmitting business and violating the Bank Secrecy Act. The indictment accuses KuCoin of failing to maintain adequate anti-money laundering (AML) programs and knowingly serving U.S. customers without …...
Portuguese Data Regulator Temporarily Limits Worldcoin
The National Data Protection Commission (CNPD), Portugal’s data regulator, has decided to temporarily limit Worldcoin and its collection of biometric data through its Orb devices within the country. The measure aims to protect the rights of Portuguese citizens, particularly minors. This measure comes into effect immediately and will stay in place until the conclusion of …...
Mystery Bitcoin Whale Moves $6 Billion in BTC to Three New Addresses
The fifth richest Bitcoin (BTC) whale has moved a staggering $6 billion worth of BTC to three new addresses over the weekend. Key highlights: Blockchain analytics firm Arkham’s data shows that 94,500 BTC ($6.05 billion) funded the address in 2019 and left it dormant until the recent transfer. Initially, they split the funds into two …...
SEC Reportedly to Seek $2 Billion in Fines from Ripple, Says CEO
The U.S. Securities and Exchange Commission (SEC) will reportedly seek $2 billion in fines and penalties from Ripple Labs, according to Stuart Alderoty, the company’s chief legal officer. In a tweet on X, Alderoty stated that Ripple will respond to the SEC’s proposal next month. Alderoty also accused the regulator of making false and misleading …...
FTX Bankruptcy Estate To Sell Majority Stake in Anthropic for $884 Million
The FTX bankruptcy estate has reached an agreement to sell the majority of its shares in Anthropic. The sale is to a group of 24 institutional investors for a total of $884 million. The sale marks a significant step forward in FTX’s efforts to repay its customers, who lost funds when the cryptocurrency exchange collapsed …...
London Stock Exchange to Launch Bitcoin and Ethereum ETN Market on May 28
The London Stock Exchange (LSE) has disclosed plans to introduce a market for exchange-traded notes (ETNs) based on Bitcoin (BTC) and Ethereum (ETH) on May 28, 2024. This announcement follows the LSE’s previous notice on March 11, 2024, which stated that the exchange would accept applications for admission to trading of Bitcoin and Ethereum Crypto …...
Binance Russian Successor CommEx Winds Down
CommEx, the cryptocurrency exchange that took over the Russian business of Binance in September 2023, has officially announced its decision to wind down operations. It has also immediately halted deposits on its platform. The announcement comes as Binance faces increasing regulatory scrutiny worldwide, with the Philippines recently blocking local user access to the exchange due …...
