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Venezuela has shut down several crypto mining facilities and exchanges as part of an ongoing investigation into alleged government corruption. The move is a measures taken by the government to crack down on cryptocurrency activity. Furthermore, the closure which was ordered by the Venezuelan National Superintendency of Crypto Assets and Related Activities (SUNACRIP), is believed to be
The web3 game developer Animoca, has denied recent reports that it has scaled back its metaverse fund target and experienced a significant drop in its valuation. The venture capital firm denied claims that it had reduced its metaverse fund target by $200 million, or 20%, to $800 million amid volatility in the crypto market and instability
Towards the upcoming G7 meeting in Hiroshima this May, Japan, The United States, The United Kingdom, Canada, France, Germany, and the European Union are expected to collaborate to provide a cooperative strategy for tougher global cryptocurrency regulations. The plan follows the collapse of the major cryptocurrency exchange FTX in November, which has laid bare the poor governance
Do Kwon, who was recently arrested at Podgorica airport in Montenegro for attempting to fly to Dubai using fake documents. Following his arrest, the Montenegrin court approved a 30-day extension to Kwon’s detention period, which is longer than the usual 72-hour period allotted by authorities. The legal team representing Kwon confirmed that they will be appealing against the Montenegrin court’s
An optimism-based decentralized finance (DeFi) platform, Kokomo Finance has perpetrated an exit scam, stealing nearly $4 million in users’ funds through “exit scam” over the weekend. According to blockchain security firm CertiK, Kokomo’s developers deployed an attack contract cBTC from the main address of the KOKO native token on Sunday, and then resetted the reward
North Carolina-based First Citizens has agreed to buy Silicon Valley bank from us regulators, the Fedral Deposit Insurance Corporation (FDIC) which took over the lender earlier this month as depositors raced to withdraw money. First Citizens also agreed to buy all of SVB’s deposits and loans, as well as a large portion of its assets, leaving
Deutsche WertpapierService Bank (Dwpbank), which provides securities processing services to approximately 1,200 banks in Germany, is launching a new platform called wpNex. This platform will allow all of its affiliate banks’ retail customers to access Bitcoin without requiring additional Know Your Customer (KYC) procedures. The new service will enable customers to hold crypto accounts alongside
The famous pro-XRP lawyer John Deaton proposed that the Ripple blockchain approaches banks or money transmitters with an offer to significantly reduce the fees they charge for international money transfers using blockchain technology. Deaton made this proposition in reply to a report that the Ripple network processed nearly $1 billion in four seconds with a
The hacker behind Euler Finance’s $200 million exploit earlier this month sent back a majority of the stolen funds to the protocols today. Data from blockchain explorer Etherscan shows over 51,000 ether, valued at nearly $90 million as of Saturday, was sent back to the Euler deployer contract in early U.S. hours. However, the exploiter
Binance, the world’s largest cryptocurrency exchange, has faced accusations of enabling money laundering and facilitating criminal activities in the past. In response to the FTX scandal, Binance has made significant efforts to enhance transparency in the industry. However, a recent CNBC investigation suggests that Binance insiders are allegedly abetting users in China to bypass the
The Securities and Exchange Commission (SEC) issued coinbase a Wells notice, warning the company that it identified potential violations of U.S. securities law. The SEC futher alleged that the company’s staking products constitute unregistered securities. In regard to this, coinbase mentioned that the issue is “an undefined portion of our listed digital assets, our staking service Coinbase Earn, Coinbase
Terraform Labs CEO Do Kwon has been charged with fraud by United States prosecutors in New York, just hours after he was reportedly arrested in Montenegro. The former cryptocurrency king was apprehended at the Podgorica airport with forged documents and an eight-count indictment against was made public in the US District Court in Manhattan. A federal grand jury
Animoca Brands, a Non-fungible token (NFT) and gaming investor based in Hong Kong that specializes in blockchain technology, has scaled back its target for its “metaverse fund” by 20% to $800 million due to recent volatility in the cryptocurrency industry. This represents another reduction in the company’s ambitions. The company had initially announced that it was working on
El Salvador’s President Bukele announced his intention to send a bill to the country’s Congress next week on eliminate all taxes on technology innovations as well as computing and communications hardware manufacturing. “Next week, I’ll be sending a bill to congress to eliminate all taxes (income, property, capital gains and import tariffs) on technology innovations, such as
The Securities and Exchange Commission has charged Grenada diplomat and crypto maven Justin Sun with fraud and unregistered securities, and also has charged YouTuber and boxer Jake Paul among other celebrities for promoting Sun’s Tronix and BitTorrent crypto assets. Actress Lindsay Lohan, musicians Soulja Boy, Austin Mahone,Akon, Lil Yachty, Ne-Yo and adult film star Kendra Lust were also
Nasdaq (NDAQ) is aiming to debut its crypto custody services by the end of the second quarter, the stock market exchange operator’s senior vice president and head of digital assets, Ira Auerbach, reiterated that the firm is working on getting the necessary infrastructure and regulatory approval in place. Nasdaq applied to the New York Department
A number of fintech payment companies and offshore banks are trying to fill the void left by the collapse of Silvergate Bank, Silicon Valley Bank and Signature Bank in the U.S., but it will likely take time before new banking networks are established, JPMorgan (JPM) explained in his weekly report. “In the meantime, crypto market
Over the last few weeks , it was observed that the collapse of three major banks in the United States – Silvergate, Silicon Valley, and Signature got Majority raising concerns about a 2008-like financial crisis. In 2008 the collapse of several Wall Street banks including the storied Lehman Brothers led to a global financial crises.However,
The most recent product that MetaMask Institutional has to offer is a staking marketplace that is designed to make the process of institutional staking for Ethereum more straightforward. This process signifies a big step forward for institutions who are working for validator status on the Ethereum network. However, Institutions who make use of MetaMask’s institutional-grade
The cryptocurrency exchange OKcoin on Friday suspended trading of the two city-based digital currencies — MiamiCoin and NYCCoin “Limited liquidity for these coins on our platform has created the possibility of price manipulation and fraudulent activity,” OKCoin wrote in a blog post. “While none of these risks have occurred, we wanted to get ahead of
A Bulgarian woman extradited to the United States for her role in a $4 billion crypto pyramid scheme adds to a growing list of law enforcement actions against perpetrators of the OneCoin Ponzi scheme. Irina Dilkinska, 41, was head of “legal and compliance” for OneCoin, but “accomplished the exact opposite of her job title and
Huang Tien-mu, Taiwan’s Financial Supervisory Commission Chairman informed lawmakers that the nation is in the process of creating a special legislative framework to govern cryptocurrency and its related activities. He made this announcement during a parliamentary hearing on global banking stability. The FSC chair, Huang Tian-mu, unofficially announced the FSC’s new role, which was cited
A legislative proposal from Florida Governor Ron DeSantis would prohibit the use of a national central bank digital currency (CBDC) as money within his state. He continued by stating that “The Biden administration’s efforts to inject a Centralised Bank Digital Currency is about surveillance and control,” “Today’s announcement will protect Florida consumers and businesses from the
Telegram users can now send each other tether (USDT), the world’s largest stablecoin by market cap, within chats in the messaging app. However, USDT has been added to Telegram’s @wallet bot, expanding the messaging app’s facility for buying and selling crypto, according to an emailed announcement shared with CoinDesk on Wednesday. Integrating crypto payments into
Seychelles-based crypto exchange Bitget has become the controlling shareholder in decentralized multi-chain wallet BitKeep with a $30 million investment, according to a press release Tuesday. Established in 2018, BitKeep raised $15 million at a $100 million valuation last year in a funding round that was led by Dragonfly Ventures. The press release didn’t disclose the
The tie-in with Pix which has more than 140 million users was enabled through a partnership with Ebanx, a Brazilian end-to-end payment processor. In addition to making local currency purchases, customers will also be able to withdraw Brazilian reals. In addition, Coinbase said its app is fully available in Portuguese and has enabled 24-hour
India’s central bank is advocating for legislation that will enable users of its retail central bank digital currency (CBDC) to delete any transactions from the network’s ledger in order to maintain anonymity, a highly placed person told CoinDesk. The Reserve Bank of India (RBI) is currently running both retail and wholesale CBDC pilots. The retail
An increasing number of companies worldwide are using bitcoin and other digital assets for a host of investment, operational, and transactional purposes. As with any frontier, there are unknown dangers, but also strong incentives. In exploring loads of questions and insights, enterprises should consider as they determine the beneficial use of digital assets to companies..
Crypto ads in Belgium must be accurate and warn investors of the implications under new laws announced by the country’s financial regulator. Powers published in Belgium’s Official Gazette on Friday mean any mass-media campaign to promote a digital currency would have to be submitted to the Financial Services and Markets Authority (FSMA) 10 days in
