A member of the South Korean parliament is leaving his party amid mounting allegations of massive crypto investments inconsistent with his frugal public image. The controversy, which has caught the attention of the Korean society, involves accusations of conflict of interest and other irregularities. Lawmaker Leaves South Korean Opposition Party Over Crypto Holdings Kim … [Read more...]
Standard Chartered Bank: Crypto Winter Is Over — Bitcoin Could Reach $100K Next Year
Standard Chartered says crypto winter has ended and the price of bitcoin could reach $ 100K per coin by the end of next year. The global bank’s analyst has identified several factors contributing to the surge in the price of the cryptocurrency, including the recent turmoil in the banking sector. Standard Chartered Bank on Bitcoin Hitting $ 100K Global bank Standard … [Read more...]
Taylor Swift Rejected Crypto Exchange FTX’s Sponsorship Offer Over Unregistered Securities Concerns
Taylor Swift, a pop icon and 12-time Grammy Award winner, reportedly turned down a $ 100 million sponsorship offer from the now-bankrupt cryptocurrency exchange FTX due to concerns about unregistered securities. A number of FTX celebrity endorsers are currently facing a class action lawsuit, including Shaquille O’Neal (Shaq), Tom Brady, and Larry David. How Taylor Swift … [Read more...]
‘Not Related to a Digital Currency’ — US Central Bank Addresses Concerns Over Fednow Payment Network
The U.S. Central Bank has issued an update regarding the Federal Reserve’s Fednow project, which is scheduled to commence in July. The Fed has responded to recent criticism of the Fednow service and asserts that the Fednow payment network is “neither a form of currency nor a step toward eliminating any form of payment, including cash.” Fednow Won’t Replace Cash, the U.S. … [Read more...]
Bitcoin Stamps Emerge as New Image-Storage Trend on the Bitcoin Blockchain, Over 8,000 Stamps Minted So Far
After the Ordinal inscription process gained significant traction on the Bitcoin blockchain with more than 800,000 inscriptions to date, a new trend of non-fungible token (NFT) technology has emerged called Bitcoin Stamps. The image-storing technique is a new way of storing images on Bitcoin, and so far, more than 8,000 stamps have been minted. From Ordinals to Stamps: A New … [Read more...]
Seoul Takes Control Over $160 Million in Assets of Former Terraform Employees, Founder
Authorities in South Korea have reportedly seized assets worth billions of won belonging to former representatives of Terraform Labs. The measure should prevent suspects in the case with the failed blockchain firm from selling property that may have been obtained with criminal proceeds. South Korean Law Enforcement Moves to Seize Terraform-Linked Real Estate, Report … [Read more...]
US Government Plans to Sell Over 41,000 Bitcoins Confiscated from Silk Road Hacker
According to a court document filed on March 31, 2023, regarding the sentencing of James Zhong, who stole over 50,000 bitcoin from the Silk Road marketplace, the U.S. government plans to liquidate 41,490 bitcoin “over the course of this calendar year.” U.S. Government Discloses Strategy for Selling Confiscated Bitcoin The U.S. government, one of the largest holders of … [Read more...]
Meta Announces 10,000 Layoffs in ‘Year of Efficiency’ Move; Singles Out AI Over Metaverse as ‘Largest Investment’
Meta, the social media company, will continue to shed part of its workforce, recently announcing 10,000 new layoffs to be executed during 2023 as part of its new efficiency policy. Mark Zuckerberg, CEO of the company, stated that artificial intelligence (AI) was currently the company’s most prominent investment, even over the metaverse. Meta Announces 10,000 Layoffs, Striving … [Read more...]
House Republicans Demand Answers From SEC Over FTX Co-Founder’s Arrest
On Feb. 10, 2023, Republicans Patrick McHenry of North Carolina and Bill Huizenga of Michigan, both members of the U.S. House of Representatives, sent a letter to Securities and Exchange Commission (SEC) chairman Gary Gensler seeking answers about the arrest of FTX co-founder Sam Bankman-Fried prior to his scheduled testimony before the House Financial Services Committee. … [Read more...]
Debate Intensifies Over Significance and Implications of Ordinal Inscriptions on Bitcoin Blockchain
During the past two weeks, members of the cryptocurrency community have discussed the non-fungible token (NFT) concept known as Ordinals. Since the 3.96 MB block (#774,628) was mined, there has been a significant increase in Ordinal inscriptions on the Bitcoin blockchain. Ordinal Inscriptions on Bitcoin Blockchain Spark Debate Among Crypto Community The controversial NFT … [Read more...]
Uzbekistan Collects Over $300,000 From Crypto Sector
While operations with digital assets are not taxed in Uzbekistan, the government is receiving a growing amount of revenues from the industry. The increase in budget receipts has been attributed to the licensing regime and the introduction of fees for crypto companies. Crypto Exchange in Uzbekistan Pays Over $ 10,000 a Month to the State Coffer Licensed crypto firms have paid … [Read more...]
Alameda Research Seeks $446 Million Over Alleged ‘Preferential Transfers’ to Voyager Digital
On Monday, Alameda Research Ltd. filed a legal complaint against Voyager Digital LLC and HTC Trading Inc. in the U.S. bankruptcy court. The complaint alleges the defendants received preferential transfers of property from Alameda Research and the plaintiffs are seeking to recover approximately $ 445.8 million from Voyager and HTC. Legal Battle Erupts Over Crypto Asset … [Read more...]
SEC Strategic Plan: Crypto Initiatives Among Top Priorities Over Next 4 Years
The U.S. Securities and Exchange Commission (SEC) has revealed some initiatives involving crypto assets in its Strategic Plan for the fiscal years 2022-2026. The initiatives are intended to address the SEC’s top priorities over the next four years. SEC’s Strategic Plan for FY 2022-26 The U.S. Securities and Exchange Commission (SEC) published its “Strategic Plan” for the fiscal … [Read more...]
Report: NFT Firm Candy Digital Cuts Over a Third of the Company’s Staff
With non-fungible token (NFT) sales a lot lower than they were at the start of the year, NFT companies and marketplaces are feeling the pain associated with the second-largest crypto winter to date. According to a report published on Monday and “multiple people familiar with the situation,” the NFT company Candy Digital is laying off over a third of the firm’s staff. After … [Read more...]
The Girles Token Presale Raised Over $1 Million – What to Expect?
sponsored Girles Token is a decentralized NFT GameFi token created on the Ethereum platform that also has a Proof-of-Staking protocol. The Girles Token is the main product in the Girles Metaverse, which has applications in over 15 different products. Girles Token was tested before being released on the main Ethereum network, and also after it was audited by Cyberscope. Girles … [Read more...]
