Coinatory

Ishan Wahi, a former manager of Coinbase, and his brother, Nikhil Wahi, agreed to settle allegations of insider trading using information obtained from the exchange, the Securities and Exchange Commission (SEC) stated on Tuesday. The former has been forced to forfeit 10.97 ETH ($20,848.92) and 9,440 USDT, while the latter was made to forfeit $$892,500. The SEC's news release states that the brothers' fines are prejudgment interest in addition to penalties for disgorgement of illegal proceeds from their trading scheme. The brothers were prosecuted by the Department of Justice in July 2021 in the first-ever insider trading case involving cryptocurrency, along with one of their friends, Sameer Ramani. Specifically, Ishan Wahi was accused of tipping his brother and friend with information about coins that would soon be listed at Read more about SEC Settles With Coinbase Employee For Insider Trading Charges #Coinbase, #IshanWahi, #Regulations, #SEC, #USA

Dr. Saifedean Ammous has been named the Economic Advisor to the National Bitcoin Office of El Salvador. Ammous is the author of The Bitcoin Standard, a book that explains Bitcoin. The Austrian economist joined the team as the Office's counselor for issues relating to different economic policies, it was announced on May 30 by the Office. Related: Price of Bitcoin: 6 main factors influence the BTC price The Bitcoin Standard, a now-famous book by Dr. Ammous, first came out in April 2018 and examines the shift from reliable stores of value to inflated assets and fiat currencies. Additionally, it examines the development of money and demonstrates how monetary systems have evolved along with civilizations. On May 30, he tweeted about his new job, saying that he was "excited" to work in the Office in "the first country to adopt a Read more about 'The Bitcoin Standard' author becomes economic advisor to El Salvador #Bitcoin, #BitcoinStandard, #Cryptonewstoday, #DrSai

The TON Foundation, a non-profit organization dedicated to advancing The Open Network (TON), has introduced a liquidity mining rewards campaign with the aim of encouraging users from other chains to join the TON ecosystem. The campaign offers rewards of up to $720,000 in toncoin (TON) and will be active from June 5 to June 30. To facilitate this initiative, several decentralized exchange (DEX) protocols, including Megaton Finance, DeDust, and STON.fi, have joined forces. These DEXs will distribute the allocated funds across the TON ecosystem. The launch of this liquidity mining rewards campaign follows the establishment of a two-way bridge that enables the transfer of ERC-20 tokens from Ethereum to Jettons, which are natively wrapped fungible tokens on TON. Key token pools such as jUSDt, jUSDC, and jWBTC have been created to Read more about TON Foundation introduces new liquidity mining rewards program #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #

According to reports, Binance is exploring a potential solution to reduce counterparty risk for its institutional clients. Instead of keeping their trading collateral on the crypto platform, these clients would be allowed to store it at a bank. Swiss-based FlowBank and Liechtenstein-based Bank Frick have been mentioned as potential intermediaries for this service. The move is a response to demands from institutional digital asset traders for increased security measures following the collapse of FTX last year, which caused significant losses. Binance has reportedly engaged in discussions with select professional customers to enable them to use bank deposits as collateral for margin trading in spot and derivatives markets. The details of any potential partnerships with FlowBank and Bank Frick have not been disclosed publicly. Under Read more about Binance Explores Collaborations with FlowBank and Bank Frick for Enhanced Security Measures and Collateral Solutions #Altcoin, #Binance, #Bitc

Federal prosecutors claimed Monday that Sam Bankman-Fried's attorneys made meritless arguments in an effort to persuade a court to dismiss criminal allegations that the FTX founder stole from investors in his multibillion dollar cryptocurrency fund. Prosecutors reacted to early May filings in which Bankman-Fried's attorneys argued that the government overstepped its bounds in prosecuting Bankman-Fried, turning regulatory issues into criminal offenses. “These motions are meritless,” prosecutors wrote in a nearly 100-page filing. “The charges track the relevant statutes and the defendant’s alleged misconduct falls within the heartland of what these statutes prohibit.” Bankman-Fried has entered a not guilty plea to accusations that he defrauded investors and used money taken from client deposits on FTX to buy luxury real estate, g Read more about Prosecutors say Sam Bankman-Fried's arguments to dismiss cryptocurrency charges are meritless #Cryptonewstoday, #FTX, #Regulations,

Despite increasing worries that crypto firms, including Binance's own operation in Australia, may be debanked, Binance CEO Changpeng Zhao says the company is unlikely to purchase any financial institutions. The collapse of several U.S. banks this year has prompted concerns that the pool of crypto-friendly banks is shrinking. To name a few of the crypto industry’s former key banking partners, Silvergate, Silicon Valley Bank, and Signature Bank have all capitulated this year. Binance Australia said that it would stop offering services in Australian dollars after its payment provider decided to stop supporting the exchange. The exchange has yet to locate a different provider. On the Bankless Podcast, CZ addressed a query asked by well-known Twitter user DegenSpartan, who requested humorously: "Can you please, buy a bank and make Read more about Buying a bank won't solve crypto's debanking issue #Bank, #Binance, #Cryptonewstoday, #CZ

Terra co-founder Do Kwon has engaged the services of Dentons, a global law firm, in response to a passport forgery case and extradition requests in Montenegro. Dentons, recognized as a highly reputable global law firm, will provide legal support to Do Kwon in his ongoing legal challenges. Dealing with legal obstaclesDo Kwon, one of the co-founders of Terra, has encountered a setback in his legal proceedings as the court in Montenegro revoked his bail. Prosecutors successfully argued that Do Kwon posed a flight risk, leading to the insufficient bail amount being deemed inadequate for house arrest. Amidst discussions surrounding his potential extradition, Do Kwon has enlisted the legal expertise of Dentons, a well-known and esteemed law firm, to navigate the charges he is facing in the United States. Dentons, renowned for its Read more about Do Kwon retains Dentons law firm to defend against US charges #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulations

After eight years of sleep, an Ether wallet that has not been used since Ethereum's ICO (Initial Coin Offering) in 2015 suddenly awoke, moving 8,000 ETH in just over two minutes. After taking part in Ethereum's ICO (Initial Coin Offering) in 2015, the wallet received the 8,000 ETH and was inactive till May 27.On that day, its owner began with a cautionary transfer of 1 ETH to a new wallet. One minute later they transferred the remaining 7,999 ETH to the new wallet address. The value of the ETH cache as of this writing is about $14.7 million. The blockchain analytics company Lookonchain, which has 219,000 Twitter followers, was the first to spot this transfer. The 8,000 ETH were purchased at the time for approximately $0.31 per token, making the initial investment roughly $2,500.At today’s prices of $1,917, this marks a Read more about Ethereum's Silent Sleeper Awakens: 8,000 ETH Transferred After 8 Years #Altcoin, #CryptoWhale, #Cryptonewstoday, #Ethereum

Temasek Holdings, a Singaporean investment company, has cut compensation for the executives who oversaw the company's participation in the now-defunct cryptocurrency exchange FTX. According to Forbes, Temasek once had 7 million shares, making it the second-largest foreign investor in FTX. However, after the exchange failed, the business was compelled to defend its investing strategy. Bloomberg reported on May 29 that Temasek has finished its internal investigation into the $275 million investment loss at FTX, which it had started soon after the exchange's demise in November 2022. Although the investigation found "no misconduct" within the company, it was stated that the senior management and investment team both accepted "collective accountability" and had their compensation decreased. The $275 million FTX investment, which Read more about Temasek slashes compensation for execs responsible for its $275M FTX investment #Cryptonewstoday, #FTX, #Regulations, #T

According to CoinGecko data, Tether (USDT) has seen its market dominance increase, reaching 65.89% from 47.04% one year ago. Tether's market capitalization has soared to $83.1 billion, while the market cap of USD Coin (USDC), issued by Circle, has dropped to $29 billion from its peak of $55 billion. Other stablecoins like Binance USD (BUSD) and Dai (DAI) have also experienced declines in their market share during this period. Circle CEO Jeremy Allaire attributed the decline in USDC's market capitalization to the regulatory crackdown on cryptocurrencies in the United States. The USDC stablecoin faced issues with its peg to the dollar in March due to the U.S. banking crisis, which resulted in reserves worth $3.3 billion being stuck at Silicon Valley Bank. The passage also mentions the growing connection between the cryptocurrency Read more about USDT market share jumps amid economic uncertainty, USDC shrinks #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday,

The municipal government in Beijing, the capital of China and a center of technological innovation has announced its plans to take a leading role in the advancement of web3 and blockchain technology. According to local reports, the Beijing Municipal Science and Technology Commission, in collaboration with the Zhongguan Village Science and Technology Management Committee, has published the "Beijing Web 3.0 Innovation Development White Paper (2023)". This document provides detailed information on web3 system analysis, structure, and development status both domestically and internationally, as well as the development status of Beijing itself, along with recommendations. The white paper recognizes blockchain as an inevitable trajectory for the future of the Internet industry and emphasizes the need for continuous investment and Read more about Municipal government in China releases blockchain white paper #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonews

The FBI issued a warning about fake job advertisements that tempt people to travel to Southeast Asia, where "victims are held against their will and forced to commit international crypto scams on unsuspecting victims." These con artists typically advertise on social media and entice their victims with the promise of lucrative work.Upon arrival, however, victims have their passports taken and are forced to work by scamming innocent people. Additionally, if employees failed, they reportedly faced torture, abuse, murder, or being sold to another gang. In a news statement, the FBI advised US citizens and people who were living or traveling abroad to be wary of job postings that were fake or connected to labor trafficking. The intelligence service claimed that threat actors use fraudulent job postings on social media and online job Read more about FBI Warns of Crypto Human Trafficking Rings in Asia #Asia, #Cryptonewstoday, #FBI, #Scam, #USA

The Hong Kong Police Force's cyber security department has introduced CyberDefender, a brand-new metaverse platform intended to inform users of the possible risks associated with Web3 and the metaverse. A new metaverse platform called CyberDefender was announced on May 27 by the Cyber Security and Technology Crime Bureau (CSTCB) of the Hong Kong Police Force in an effort to prepare its citizens for the "challenges ahead in the digital age" with an emphasis on technology crime prevention. An online event, "Exploring the Metaverse," was held on the same day as it launched, spanning across three virtual venues, with the aim of discussing crime prevention strategies within the metaverse. Ip Cheuk-yu, the head inspector of the CSTCB, stressed the need for guests to use the same level of prudence they use while using the internet Read more about The Hong Kong Police Force launch new metaverse platform, ‘CyberDefender’ #Cryptonewstoday, #CyberDefender, #Cybersecurity,

Patricia, a Nigerian platform for gift card and crypto trading, has experienced a security breach, leading to immediate actions to protect its users. As a precaution, the platform has temporarily halted fund withdrawals. The company disclosed that it fell victim to a security breach compromising its Bitcoin (BTC) and naira assets. However, other cryptocurrencies and customer funds remain unaffected. While the extent of the compromised assets was not disclosed, Patricia has identified one individual involved in the breach with the assistance of law enforcement. It intends to collaborate with authorities and partners to recover the assets. Although Patricia users have expressed their inconveniences on Twitter due to the suspension of withdrawals, the company emphasizes its continuous efforts to enhance the platform's security Read more about Nigerian crypto company suspends withdrawals after BTC and naira compromise #Adoption, #Altcoin, #Cryptocurrency, #Cryptomarket, #Cryptonewstoda

Financial behemoth JPMorgan Chase entered the battle to create a generative AI tool for commercial use by filing a trademark application for IndexGPT. On May 11, a trademark application for the characters "IndexGPT," which JPMorgan claims would be used in commerce, was submitted to the United States Patent and Trademark Office (USPTO). The trademark application by JPMorgan reflects the views of Jamie Dimon, the bank's CEO, on artificial intelligence (AI). In April, Dimon disclosed that the business has over 300 AI use cases for risk, prospecting, marketing, customer experience, and fraud protection that are currently in production. He stated: AI and the raw material that feeds it, data, will be critical to our company’s future success — the importance of implementing new technologies simply cannot be overstated. JPMorgan p Read more about JPMorgan Chase enters generative AI race with IndexGPT trademark #AI, #ChatGPT, #Cryptonewstoday, #JPMorgan

Arthur Madrid, the co-founder, and CEO of The Sandbox, a metaverse project, experienced a Twitter account breach on May 26. Madrid later posted a message indicating that he had regained control of the account. The hacker had purportedly used Madrid's account to promote a deceptive "airdrop" phishing scam. In his post, Madrid cautioned Sandbox users against clicking on any suspicious links promoting fake airdrops or URLs that do not match the official domain name (http://sandbox.game). The official Twitter account of The Sandbox had also issued a warning four hours prior, notifying users that a scammer had hijacked the account and was disseminating a phishing link for a counterfeit SAND token airdrop. The warning post included a screenshot of the fraudulent promotion, which advertised the SAND token airdrop and urged users to Read more about The Sandbox CEO’s Twitter was hacked, used to promote alleged ‘airdrop’ scam #Altcoin, #Bitcoin, #Cryptocurrency, #Cryptomarket, #Cry

In the initial phase,.SWOOSH pre-sale generated approximately $1.4 million in revenue. However, comments from .SWOOSH team has suggested that the extension of the pre-sale for selected users is progressing more slowly than expected. In a tweet posted on May 17, the team reminded users that the First Access Sale had been extended until Wednesday at 11:59 PM PDT, allowing participants ample time to participate in the sale. Nike introduced its .SWOOSH web3 platform in November 2022 intending to sell virtual sneakers at a price below $50 per pair. During this time, RTFK, a company specializing in NFTs and digital sneakers for the Metaverse, which was later acquired by Nike, was highlighted.SWOOSH is an opportunity to introduce millions of people into a web3 space.SWOOSH as an opportunity to introduce millions of people to the web3 Read more about Nike's Swoosh Web3 Platform Surpasses $1 Million in Sales #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday,

This week has seen a surge in interest in cryptocurrencies with AI themes as a result of rising demand for Nvidia AI chips. The chips power generative AI, which generates text and images in response to user requests. Nvidia's share price has increased by 28% due to the demand for the chips. Fetch.ai, a blockchain platform powered by AI, uses FET as its native currency. It has a market valuation of US$193 million. Over the last 24 hours, it gained 4.13%. The native token of the decentralized AI marketplace SingularityNET, SingularityNET, also increased 9% over the previous day. Additionally, the native coin of the GPU-based rendering platform Render Network, Render Token, increased by 3.31%. source Read more about Nvidia chip boom a boost for AI-related cryptos #AI, #ChatGPT, #Cryptonewstoday, #Nvidia

Gemini has chosen Dublin as the headquarters for its European operations. Gemini's 2014 founders, Cameron and Tyler Winklevoss, announced on May 25 that they had chosen Ireland as the location for their new European headquarters in order to expand the company's services. The twins explained why they chose Ireland at a meeting with Prime Minister Leo Varadkar, citing the country's strong regulatory framework, wide talent pool, and well-established technology community. The Central Bank of Ireland granted Gemini a virtual asset service provider license in July 2022. Gemini already has a Dublin office with 12 employees. After the EU adopted the new Markets in Crypto-Assets laws (MiCA), which was formally approved on May 16, the company intends to expand its workforce. The twins are predicting a big boost to the crypto industry Read more about Gemini Chooses Dublin as European Headquarters #Cryptonewstoday, #Dublin, #Europe, #Gemini, #MiCA

In an attempt to overturn sanctions imposed on Tornado Cash, Ethereum's privacy service, the plaintiffs are questioning the U.S. Department of Treasury's interpretation of property rights in smart contracts and application of the first amendment's free speech clause. Recent legal developments involve lawsuits directed at the U.S. Department of Treasury regarding the sanctions imposed on Tornado Cash, a service that mixes Ethereum. The plaintiffs argue that the lawsuit is primarily focused on ensuring that the Treasury adheres to the fundamental principles of the International Emergency Economic Powers Act (IEEPA) and the Free Speech Clause of the First Amendment rather than creating specific regulations for emerging technologies. Paul Grewal, the Chief Legal Officer of Coinbase, summarized the arguments on Twitter, highlighting a Read more about US Treasury challenged over Tornado Cash sanctions #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptonewstoday, #News, #Regulations,

South Korean lawmakers have unanimously approved a new bill that requires public officials and candidates to disclose their cryptocurrency holdings starting in 2024. The bill, which amends the Public Service Ethics Act, aims to promote transparency and accountability within the public sector. Previously, officials were only required to report assets such as cash, stocks, and bonds exceeding a certain threshold. However, cryptocurrencies and virtual assets were not included in the disclosure requirements until now. The legislation, spearheaded by conservative lawmaker Lee Man-hee, not only introduces the disclosure provision but also imposes restrictions on the investment amounts permitted for officials involved in the cryptocurrency sector. The goal is to regulate the involvement of public servants in the rapidly expanding crypto Read more about South Korea implements crypto disclosure mandate for officials for 2024 #Adoption, #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptoma

Web3 gaming will someday become one of the main catalysts of widespread cryptocurrency adoption, according to Sandeep Nailwal, co-founder of the Ethereum scaling platform Polygon. In a May 25 Ask Me Anything (AMA) on r/India community on Reddit, Nailwal was asked what he sees as some genuine at-scale “real life” use cases for blockchain other than trading and payments. Nailwal responded:  “I think gaming is the largest scale opportunity for crypto," adding: “There are some top games launching in Web3 in the next 6-18 months and it would be very interesting to see if some of them are able to crack the crypto code. Last year itself there was $2 billion+ in funding for Web3 games.” source Read more about Gaming: The Biggest Crypto Opportunity #Ethereum, #Polygon, #Web3, #Web3Game

A lower court's decision to grant bail to former cryptocurrency billionaire and Terraform Labs co-founder Do Kwon has been rejected by a court in Montenegro. According to court spokeswoman Marija Rakovic, the high court in the Montenegrin city of Podgorica reversed the prior judgment on Wednesday. Kwon is still detained. The decision also applies to Han Chong-joon, who served as Kwon’s former chief financial officer. Both received permission from the Basic Court in Podgorica earlier this month to be released on 400,000 euro ($430,500) bail. The prosecution immediately filed an appeal of the decision, which was then forwarded to a higher judge to deliberate. Rakovic said: “The Basic court should now make another decision, taking into account what the High Court ruled, source Read more about Do Kwon Remains in Jail #Adoption, #DoKwon, #TerraLuna, #TerraformLabs

According to the former commissioner of the United States Commodities Futures Trading Commission (CFTC), Ether, the native token of Ethereum, may be both a commodity and a security. Dan Berkovitz, a former chief counsel at the Securities and Exchange Commission (SEC), claimed it is technically conceivable for ETH to fall under the jurisdiction of both regulatory agencies in a May 23 episode of Laura Shin's Unchained podcast. The ongoing confusion over Ether’s legal status stems in large part from conflicting statements from the CFTC and the SEC. Over the course of the last six months, the CFTC has repeatedly called Ether, along with a number of other cryptocurrencies, a commodity. Meanwhile, the Gary Gensler-led SEC hasn't yet assigned Ether a specific legal classification. At an oversight hearing in April, Gensler stated that Read more about ETH can be a security and a commodity: Former CFTC commissioner #Altcoin, #Bitcoin, #Cryptomarket, #ETH, #Ethereum, #SEC

In a new staffing and compensation report submitted on Monday to the United States Bankruptcy Court for the District of Delaware, plans to relaunch the bankrupt cryptocurrency exchange FTX were confirmed. According to the letter, the troubled crypto exchange's acting CEO John J. Ray III spent hours in April engaged in a variety of activities to come up with a revival strategy. After FTX recovered around $7.3 billion in distributable assets last month, Andy Dietderich, the exchange's lawyer, stated that the legal team would talk about the next steps for a potential relaunch and intended to submit a draft reorganization plan in July. He continued by saying that it was anticipated that the proposal will be confirmed in Q2 2024. A few days later, news broke that San Francisco-based venture capital company Tribe Capital was Read more about Plans for FTX 2.0 in the Works #Bitcoin, #Cryptocurrency, #Cryptonewstoday, #FTX, #TribeCapital

Amendments to the digital ruble bill in Russia were proposed by lawmakers during parliamentary hearings. These changes focused on debt operations, services for non-residents, and the role of the central bank. The suggested amendments aimed to modify the original bill as it progressed through the legislative process. According to the recommendations put forward by the committee on the financial market of the State Duma, the central bank's involvement in financing companies would be prohibited. Instead, the central bank operates solely on a digital ruble platform. The amendments also emphasize the central bank's responsibility to protect the private data of customers employed by the federal security service. Additionally, the proposed changes seek to facilitate easier access to the central bank digital Currency (CBDC) platform for Read more about Russian lawmakers propose amendments to digital ruble bill #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Di

The biggest cryptocurrency exchange in the world, Binance, has had a lawsuit against it dismissed because of a "pig butchering" cryptocurrency fraud that was run on the dating app Tinder. According to a decision made by U.S. District Judge Amos Mazzant on May 22, there is no proof that Binance Holdings Ltd. helped commit the theft, which involved a Texas woman who was reportedly defrauded of $8 million by a man she met on Tinder. The Texan woman, Divya Gadasalli, was allegedly "promised romance and financial prosperity" by a person going by the name of "Jerry Bulasa" on Tinder, but she ultimately lost more than $8 million, according to the lawsuit. Gadasalli claimed Bulasa persuaded her to send millions of dollars in what turned out to be a "pig butchering" scam, in which the con artist spends weeks or months cultivating a Read more about Binance off the hook from $8M Tinder ‘pig butchering’ lawsuit #Binance, #Cryptonewstoday, #Scam, #Tinder

The American cryptocurrency exchange Coinbase is launching yet another nationwide advertising campaign in the country that emphasizes the "critical" part that cryptocurrencies will play in the modernization of the world's financial system. The company detailed its strategy for its new "Moving America Forward" campaign in a blog post on May 22. The campaign will launch with a series of four separate commercials starring Coinbase CEO Brian Armstrong. Some of them will also appear during commercial breaks of the NBA Finals series. them will primarily air during "popular Sunday shows" on American TV. “Coinbase is launching Crypto: Moving America Forward, a national campaign to explain crypto’s critical role as an underlying technology that will update the global financial system,” the firm noted. source Read more about Coinbase to roll out 'Moving America Forward' national campaign for crypto #BrianArmstrong, #Coinbase, #Cryptonewstoday, #NBA, #USA

The price of TORN, the governance token of the crypto mixer Tornado Cash, experienced a significant rebound, following indications that the hackers responsible for a recent attack on the protocol may be willing to reverse the attack. A user named Tornadosaurus-Hex posted a message on Tornado Cash's governance forum stating that the attacker had presented a proposal to restore the state of governance. The user shared a link to the original on-chain proposal made by the alleged attacker and expressed optimism regarding its execution. This news led to a price increase in TORN, rising from a low of $3.49 on Sunday to $4.72 at the time of writing on Monday. Despite this strong recovery from the low point, the price of TORN remains down by approximately 36% from its pre-attack high of $7.40 on May 20. The attack on Tornado Cash occurred Read more about TORN Price gets Lift After Tornado Cash Attacker Proposes to Reverse Governance Attack #Altcoin, #Attack, #Bitcoin, #Blockchain, #Cryptoc

The Philippines Securities and Exchange Commission (PSEC) has issued a warning on its website advising the public against investing in Gemini's Gemini Derivatives product. The product, which is available on the Gemini Foundation platform, was launched in certain jurisdictions on May 1. According to Philippine law, derivatives are considered securities that must be registered with the PSEC. However, Gemini lacks the licensing and authority necessary to operate in the country. The PSEC stated that individuals or entities involved in the sale or promotion of unregistered securities could face fines of up to 5 million pesos ($89,826) or imprisonment for up to 21 years. This statement was released on May 11 but was posted online a week later. The PSEC's warning references complaints filed by the United States Securities and Exchange Read more about The PSEC Warns Public Against Investing in Gemini Derivatives in the Philippines #Adoption, #Bitcoin, #Cryptocurrency, #Cryptomarket, #C

The US authorities have accused a Russian man participating in several ransomware gangs that targeted hospitals, schools, and police stations. According to the Department of Justice, Mikhail Pavlovich Matveev, also known online as Wazawaka, was an active participant in three ransomware gangs that combined demanded $400 million from victims and got close to $200 million in ransom payments. Typically, ransomware groups hack into computer networks and install harmful software that encrypts devices and makes them unusable. The organizations threaten to post stolen material online if the ransom is not paid and seek extortion payments in cryptocurrencies. According to reports, Matveev belonged to the Lockbit, Babuk, and Hive ransomware gangs. These organizations are "ranked among the most active and destructive cybercriminal Read more about Alleged Russian Hacker Charged in $200 Million Ransomware Spree #Cryptonewstoday, #Hacker, #Regulations, #Russia

This year, the floor prices of some popular NFT collections have decreased. Moreover, the NFT boom of previous years has failed to gain any traction in 2023. The NFT markets are failing. NFTs have not had the same growth as crypto markets, which have increased by 40% since the year's beginning. Related: Discover how to create NFT in just 6 easiest steps! Additionally, several of last year's biggest and most popular collections have had trouble so far this year. The floor price for the Doodles collection has dropped 90%, from 23 ETH to just 2.3 ETH. OpenSea was displaying a floor price of just 2.169 ETH, or about $3,900, at the time of writing. Doodles' sales volume in April were $2.4 million, down from $53 million in April 2022, according to CryptoSlam. Another NFT collection that has declined from its peak is Read more about Top NFT Collections of 2022 Lose Their Shine as Floor Prices Fall #Cryptonewstoday, #CryptoSlam, #Doodles, #Moonbirds, #NFT

The divorce proceedings for a couple from New York took an unexpected turn when a forensic accountant assisted in locating the husband's hidden stash of 12 Bitcoin (BTC), valued at $26,903 per ticker. The husband intended to keep these assets concealed from his wife. Although the couple had been married for a decade, the wife, known as Sarita for anonymity, suspected that her husband had not disclosed all of his assets, which would have been divided between them after their divorce. Sarita, a housewife, informed CNBC that her husband's annual income of $3 million did not align with his reported assets. To investigate further, Sarita enlisted the help of a forensic accountant who eventually discovered that her husband had failed to declare his ownership of 12 BTC, amounting to approximately $500,000, stored in an undisclosed Read more about Wife finds husband’s Bitcoin stash amid divorce proceedings #Bitcoin, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum, #News

Zilliqa, a blockchain platform known for its high performance and proof-of-stake mechanism, has achieved compatibility with Ethereum. This milestone was announced on May 19, as Zilliqa successfully integrated the Ethereum Virtual Machine (EVM) into its main net, making it a native component of its blockchain. By incorporating EVM, Zilliqa aims to attract more developers to their platforms and expand their ecosystems. Integration with Ethereum allows Zilliqa developers to deploy decentralized applications (dapps) on their proof-of-stake blockchain while maintaining compatibility with existing dapps on Ethereum. This interoperability is significant because Ethereum has the largest user base and the most extensive range of smart contract applications such as decentralized finance (DeFi),non-fungible tokens (NFT), and Read more about Zilliqa integrates and makes EVM native, launches Ethereum Bridge  #Adoption, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethere

Life prison terms were imposed on the 34-year-old  Ho Ngoc Tai and the 40-year-old Tran Ngoc Hoang for planning a clever kidnapping and afterwards stealing $1.5 million in BTC from the victim. In accordance with Vietnamese legislation, it is forbidden for people and enterprises to accept digital assets as money or a form of payment. However, the defendants were able to exchange the stolen BTC for VND18.8 billion, or almost $800,000. The affair involved more than just Tai and Hoang. They were helped by 14 other people, who will also serve prison time. However, none of them will serve a life term; instead, their terms range from 9 to 19 years. How did it happen? The story began five years ago, as CryptoPotato reported, when Le Duc Nguyen urged Ho Ndoc Tai to sell 1,000 BTC (worth more than $4 million at the time) in Read more about How Two Men Got Life Sentences in Vietnam for Committing a $1.5M Crypto Theft #Bitcoin, #Cryptomarket, #Cryptonewstoday, #Scammer, #Vietnam

An attacker was able to take complete control of the governance of the decentralized cryptocurrency mixer Tornado Cash with a malicious proposal. A fraudulent proposal received 1.2 million votes from an attacker on May 20 at 3:25 ET. The proposition garnered more than 700,000 valid votes, giving the attacker complete authority over Tornado Cash governance. The information was provided by @samczsun of research-driven technology investment company Paradigm, who stated that the attacker claimed, while sharing the malicious proposal, that it followed a similar logic to a proposal that had already been approved by the community. However, the proposal had another function this time. The attacker has complete access over Tornado Cash governance and can disable the router, remove all locked votes, and drain all tokens from the Read more about Attacker hijacks Tornado Cash governance via malicious proposal #Cryptonewstoday, #Hackers, #Paradigm, #Torn

The US Securities and Exchange Commission (SEC) and Ripple have made a joint request to extend the deadline for unsealing internal deliberations related to a speech given by former SEC director, William Hinman. On Friday, both parties filed a request to delay the filing of various exhibits, including Hinman documents. The District Judge Analisa Torres of the US District Court for the Southern District of New York granted the motion on the same day, setting a new deadline on June 13th. The Hinman documents consist primarily of a speech delivered by Hinman in June 2018, in which he states that Ethereum's native token, Ether, is not a security. In December of the previous year, the SEC requested a seal of internal communication, such as emails, text messages, and expert reports, following Hinman's speech in the Ripple case. The SEC Read more about SEC, Ripple Seeking One-Week Extension on Unsealing Hinman Documents #Altcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonews

EnvA proposed merging BitDAO, the world's largest decentralized autonomous organization, with Mantle, an Ethereum-based layer-2 scaling protocol. The approval, which took place on May 19, paves the way for BitDAO's existing products, ecosystem, and native token, BIT, to undergo rebranding to Mantle (MNT). The majority of the BitDAO community supported this measure, known as the BitDAO improvement proposal (BIP)-21, with the aim of consolidating the broader BitDAO ecosystem under a single brand and token. The changes outlined in the BIP-21 snapshot shared on Twitter by BitDAO are primarily cosmetic, aimed at reducing confusion, unifying branding, and enhancing the BitDAO ecosystem in preparation for the launch of Mantle's Mainnet. The final results of the BIP-21 vote showed that over 235 million BIT tokens were cast in favor of Read more about BitDAO passes key proposal, to merge with Ethereum layer-2 protocol, Mantle #Altcoin, #Bitcoin, #BitDAO, #Blockchain, #Cryptocurrency

Bitcoin-friendly The Biden Administration's planned 30% excise tax on Bitcoin miners, according to Republican Senator Cynthia Lummis, is unlikely to pass the House. The politician maintained his support for miners while speaking on stage at Bitcoin Miami 2023 and said he thought it was important for national security that the sector spread around the country. Boring explained that companies within their membership, which represent 50% of Bitcoin’s hashrate, were “incredibly concerned” that they wouldn’t be able to operate in the United States if the tax were passed. In response, Lummis gave Bitcoiners some consolation. “That isn’t going to happen,” she said. “It’s absolutely important that the development of this technology, as well as Bitcoin mining itself, to occur in the United States.” source Read more about Cynthia Lummis Says Biden’s 30% Miner Tax “Isn’t Going to Happen” #Biden, #Bitcoin, #Cryptonewstoday, #CynthiaLummis, #Mining, #Regulations, #USA

In addition to moving its worldwide headquarters to El Salvador, Strike, a Chicago-based Bitcoin payment service provider, increased the number of nations it serves to 65. The mobile app was only usable prior to its expansion in Argentina, El Salvador, and the United States. Related: More Crypto Firms Will Leave The US Due to Confusing Regulations: Ripple CEO The expansion campaign, in the words of Jack Mallers, CEO and founder of Zap, the parent business of Strike, is intended to fight the "clouded world of crypto exchanges and hidden, unregistered licensing regimes and 1,000 different coins".  Speaking to Fortune, Mallers revealed that the move to relocate its headquarters to El Salvador was a response to the growing anti-crypto regulatory sentiments in the U.S. source Read more about Strike moves global headquarters to El Salvador, expands to 65 countries #Cryptonewstoday, #ElSalvador, #Strike, #USA

The crypto exchange FTX, which is currently going through bankruptcy proceedings, has taken legal action against its former CEO, Sam Bankman-Fried, and other individuals involved in the acquisition of the stock trading platform Embed. The FTX aims to recover hundreds of millions of dollars to repay its creditors and customers, as stated in court documents filed on May 18 in the US Bankruptcy Court in Wilmington, Delaware. The lawsuit alleges that former FTX executives failed to conduct sufficient due diligence before paying an excessively high amount of $240 million for Embed, a business that is now valued at no more than $1 million. The acquisition, which had the highest bid in bankruptcy proceedings, is being challenged as an exorbitant overpayment. Simultaneously, another lawsuit emerged, targeting Embed CEO Michael Giles and Read more about FTX seeks to reclaim over $240m in controversial acquisition of Embed #Adoption, #Altcoin, #Blockchain, #CryptoExchange, #CryptoExchanges, #Cry

Brad Garlinghouse, the chief executive officer of blockchain company Ripple, believes more crypto firms and businesses will leave the United States due to confusing regulations in the country. The CEO told CNBC that the uncertainty in the country would drive cryptocurrency investors and entrepreneurs to more friendly countries like Singapore, the United Arab Emirates (UAE), the United Kingdom, and even Europe. The efforts of Europe, the UAE, and the U.K. to regulate digital assets are clear and show leadership, according to Garlinghouse, and this enables founders and investors to interact positively with regulators and watchdogs. He claimed that the current state of affairs in America benefits Europe. “I think it’s fair to say the U.S. has made it as confusing as possible as to what the rules of the road are for the crypto ind Read more about More Crypto Firms Will Leave The US Due to Confusing Regulations: Ripple CEO #Cryptonewstoday, #Regulations, #Ripple, #Xrp

Ripple announced the acquisition of Swiss-based crypto custody provider Metaco, marking the blockchain firm’s expansion across the growing institutional crypto custody market. The $250 million acquisition comes to light as Ripple continues to fight off the US Securities and Exchange Commission's protracted lawsuit. It is anticipated that Ripple will expand its enterprise capabilities, giving clients access to the technology needed to hold, distribute, and settle any kind of tokenized asset. The two businesses want to take advantage of the expanding institutional crypto custody industry, which is expected to grow to $10 trillion by 2030. On the other side, Metaco will be able to take advantage of the established base of hundreds of customers and money at the San Francisco-based company to meet additional demand and provide r Read more about Ripple (XRP) Enters a $250 Million Deal to Acquire Metaco #Blockchain, #Cryptonewstoday, #MEtaco, #Ripple, #Xrp

Following the successful sale of the initial BonklerNFT for $125,000, the cryptocurrency experienced another positive day, with its floor price increasing by 120.3% as reported by CoinGecko. These non-fungible tokens, built on the Ethereum blockchain, reached an all-time high value of 32.8 ETH ($58,666). Allow us to introduce BonklerNFT, which currently has a price floor of $58,607, reflecting a notable 24-hour sales volume of 15.00 ETH. To date, a total of 33 NFTs have been created, owned by 24 different holders, resulting in a combined market capitalization of $1,934,039. At its core, Bonkler is a year-long artistic experiment in the realm of finance, pushing boundaries as a trailblazing reserve-backed NFT. The Paced Generative Mint of the project unveils unique rarities gradually throughout the year, fostering intrigue and Read more about BonklerNFT skyrockets with 120.3% surge, hits all-time high of 32.8 ETH #Altcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #

Voyager Digital, a crypto business that faced bankruptcy due to the Three Arrows Capital crisis in 2022, has achieved a significant milestone in its bankruptcy proceedings. The Voyager Official Committee of Unsecured Creditors (UCC) announced that the court had approved the company's liquidation procedures. This development brings a glimmer of hope to the victims of Voyager's downfall. According to a recent tweet by the UCC, the bankruptcy judge overseeing the case has given the green light to Voyager's plan to calculate customer reimbursements. Starting on June 1, 2023, users of the platform will receive approximately 35% of their crypto deposits. The committee promised to share further updates, as they became available. The collapse of the proposed $1 billion acquisition deal by Binance. The US, the US-based subsidiary of the Read more about Voyager to commence partial return of customers’ funds #Adoption, #Altcoin, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ether

As part of a live pilot for the nation's proposed central bank digital currency (CBDC), Australia has successfully completed its first foreign exchange transaction using eAUD. It comes at a time when more nations worldwide are eager to learn about or introduce digital currencies issued by central banks. Blockchain infrastructure provider Canvas revealed that on May 17 local time, eAUD was traded against the stablecoin USD Coin by crypto fund managers DigitalX and TAF Capital. In comparison to what it called the "slow, expensive, and prone to errors" existing FX and remittance networks, Canvas said the transaction was cleared quickly and hailed it as a success. The FX trade was part of a series of tests currently underway as the country explores possible use cases for a CBDC. The pilot program was launched by the Reserve Read more about Australia marks first FX transaction using a CBDC as eAUD pilot continues #Australia, #Blockchain, #CBDC, #Cryptonewstoday, #Regulations

Following a  murder case involving digital assets, South Korean lawmakers are pressing for tougher control of digital assets to be enshrined in law. According to a May 18 Bloomberg report, a Korean woman was kidnapped on March 29 and later murdered in a dispute that is thought to have been sparked by a disagreement over cryptocurrency-related losses. The nation's first standalone crypto laws, which could be passed in a legislative vote later this month, has reportedly gained urgency for MPs due to the recent murder case. “There is finally a consensus on both sides of the aisle that we need to get a law in place as soon as possible,” Back Hyeryun, a lawmaker from the opposition Democratic Party of Korea told Bloomberg. “There were too many issues, so it was necessary to focus on one thing first — investor protect Read more about Korean lawmakers rally towards crypto rules in May after grisly murder case #Bitcoin, #Cryptonewstoday, #Ethereum, #Regulations, #SouthKorea

Tether, the stablecoin issuer, declared on Wednesday that it will start regularly buying Bitcoin (BTC) using a percentage of its earnings as part of a new investment plan. The corporation will start allocating up to 15% of its realized investment gains this month to buy BTC, which will subsequently be added to its reserve excess. Without the assistance of any outside custodians, Tether plans to keep the BTC it has purchased on its own. Related: Price of Bitcoin: 6 main factors influence the BTC price Tether stated last week that in addition to its $82 billion USDT stablecoin, it also possesses $1.5 billion in Bitcoin and $3.4 billion in gold. The company's reserves consist of 85% cash and cash-like assets, including U.S. Treasury bonds. The purchase will strengthen their portfolio and align the business with transformational Read more about Tether To Put 15% of Realized Profits Into Bitcoin #Bitcoin, #Cryptomarket, #Cryptonewstoday, #Ethereum, #Tether

According to a statement from Grayscale Investments, the US Securities and Exchange Commission (SEC) has determined that a file coin is considered a security. Grayscale received a comment from the SEC staff expressing this view, stating that Filecoin meets the definition of a security under federal securities laws and appears to qualify as an investment company under the Investment Company Act of 1940. Consequently, the SEC requested that Grayscale withdraw its registration statement for Grayscale Filecoin Trust shares. However, Grayscale disagreed with the SEC's position and intended to respond to SEC staff. Future outcomes and potential actions, such as seeking accommodations or dissolving trust, remain uncertain. Following this news, the value of Filecoin experienced a rapid decline, dropping from approximately $4.59 at 4:05 p.m. Read more about US SEC Says Filecoin Is a Security in Comment Letter to Grayscale #Adoption, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cr

An Indian cryptocurrency exchange and a policy firm have separately appealed to the government to restore access to the national Unified Payments Interface (UPI) for crypto firms after it was apparently suspended in 2022. Although the proposals were not coordinated, they represent a significant effort by India's crypto stakeholders to advocate for policy changes for the industry, which has faced obstacles such as taxes and a "crypto winter.” The Indian government and central bank have reportedly received proposals to reinstate UPI access for the crypto industry, which was indirectly suspended by the National Payments Corporation of India (NPCI) after the government imposed a 30% tax on digital assets. However, the recent establishment of the Bharat Web3 Association (BWA) has provided hope for the industry, with the committee p Read more about Indian authorities urged to restore access to UPI for crypto exchanges #Adoption, #Altcoin, #Bitcoin, #Cryptocurrency, #Cryptomarket, #C