Uncategorized Archives - Page 37 of 139

WednesdayAug 16, 2023 10:30 am

Bankman-Fried Sent to Jail for Violating Bail Conditions

A U.S. magistrate has withdrawn Sam Bankman-Fried's release on bail after discovering credible evidence that the indicted FTX crypto exchange founder interfered with witnesses on at least two occasions. Judge Lewis Kaplan of the U.S. District Court made the verdict during a hearing on Bankman-Fried's bail conditions in the federal courthouse in Manhattan. The judge unequivocally denied a request from the defense to postpone Bankman-Fried's detention in light of the bail revocation. The ruling has the potential to introduce complexities to Bankman-Fried's trial preparations. Bankman-Fried stands accused of embezzling substantial sums from FTX customers to offset losses within his Alameda…

MondayAug 14, 2023 12:00 pm

Feds Launch Supervision Program to Keep Eye on DLT, Fintech and Crypto

The U.S. crypto sector is set to experience increased regulatory scrutiny from the Federal Reserve, as an initiative known as the Novel Activities Supervision Program comes into play. This program has been designed with the primary aim of bolstering the monitoring of pioneering activities undertaken by financial institutions under the purview of the central bank. According to an official statement released by the Fed Board (FRD), this novel initiative will center its focus on groundbreaking endeavors associated with distributed ledger technology, crypto assets, and technology-driven collaborations with nonfinancial entities aimed at providing financial services to clientele. The Federal Reserve has…

FridayAug 11, 2023 10:30 am

PayPal Launches USD Stablecoin

PayPal introduced its new stablecoin called PayPal USD, denominated in the U.S. dollar, on Monday. This move marks a key milestone, as it makes PayPal the first major player in the financial technology sector to embrace digital currencies for seamless payments and transfers. The purpose behind PYUSD is to capitalize on the potential benefits offered by stablecoins in the completion of transactions. Notably, it is fully backed by short-term U.S. Treasury securities, U.S. dollar deposits and analogous liquid assets, ensuring its stability. The stablecoin can be redeemed on a one-to-one basis for U.S. dollars, and its issuance is under the…

WednesdayAug 09, 2023 10:30 am

GOP Presidential Hopeful Adds Bitcoin to Campaign Donation Options

Step aside, Andrew Yang. There is a fresh face in the crypto space that has set sights on the White House stage: Francis Suarez, the tech-savvy mayor of Miami and a fervent advocate of digital currencies. Suarez, renowned for opting to receive his remuneration in Bitcoin, has now upped the ante by extending his crypto affinity to his 2024 campaign coffers. Suarez revealed this pioneering fundraising endeavor in a conversation with CoinDesk, a prominent online platform dedicated to bitcoin and other digital assets. “I'm thrilled to formally announce that my campaign is embracing Bitcoin contributions,” Suarez stated. He emphasized that…

MondayAug 07, 2023 11:15 am

Federal Judge Rules Certain Cryptos Qualify as Securities

A federal judge presiding in Manhattan has expressed the view that cryptocurrencies should be regarded as securities, regardless of the method of their transaction. This interpretation grants the Securities and Exchange Commission (SEC) authority to press charges related to securities against Terraform Labs. This legal stance also extends to the founder of the company, Do Kwon, and carries significant implications for the landscape of cryptocurrency legislation and legal actions. The decision delivered by Judge Jed Rakoff introduces complications to the ongoing legal battles between the SEC and both Ripple and Coinbase. The SEC had put forth allegations asserting that Coinbase…

FridayAug 04, 2023 10:30 am

SEC Wanted Coinbase to Trade Only Bitcoin Before Suing Exchange, FT Report

According to a report by the Financial Times, Coinbase’s CEO Brian Armstrong revealed that the U.S. SEC had advised Coinbase to cease trading in any cryptos except Bitcoin prior to taking legal action targeting the exchange. According to an SEC spokesman, company delisting of cryptocurrency assets is not requested by SEC officials. However, staff members may offer their own opinions during investigations about whether certain conduct could give the commission cause for concern about securities regulations. “The four SEC commissioners, SEC staff and SEC Chairman Gary Gensler have all expressed diverse perspectives on various topics; these opinions do not necessarily…

ThursdayAug 03, 2023 11:15 am

BREATHE! Convention Expected to Connect Emerging Tech Communities While Making History in Las Vegas, Nevada on September 13-15, 2023

The Web3, AI, Blockchain, Cryptocurrency, DeFi, Metaverse, and NFT communities will come together September 13-15th, at The Expo @ World Market Center Las Vegas for the BREATHE! Convention Emerging tech newcomers and pros will have access to the latest trends, best practices, insights, and cutting-edge research in AI, Blockchain, DeFi, and more – connecting with like-minded individuals, professionals, and colleagues Hive, the Official BREATHE! Center of the Universe Mainstage sponsor, has established the Hive Village through community funding to create a space for the Hive blockchain ecosystem Fostering networking opportunities, widespread adoption, and educational experiences within the world of Web3,…

WednesdayAug 02, 2023 10:30 am

N.C. Couple Lose Crypto Worth $156,000 to Home Robbers

In a harrowing incident, an elderly couple from North Carolina endured a nightmarish ordeal when armed assailants held them captive in their own home. The criminals, disguised as construction workers, targeted the innocent couple, threatening them with unspeakable acts of violence. Remy Ra St. Felix and Elmer Ruben Castro, the alleged culprits, arrived at the couple's residence in Durham on April 12, 2023, at 7:30 a.m. disguised in reflective vests and khaki pants and pretending to inspect pipes for damage. The couple, both in their seventies, were led to believe that the strangers were merely conducting routine checks on their…

MondayJul 31, 2023 12:00 pm

GOP Cryptocurrency Bill Divides Congressional Democrats

A major legislative proposal aimed at revamping the regulations surrounding cryptocurrency has caused a rift among senior Congressional Democrats, opening up an opportunity for Republicans to advance their own legislation with some potential bipartisan support. During a recent meeting of the Financial Services Committee, House Democrats showed their divided stance on a Republican-led measure that seeks to establish federal mandates for regulating digital asset trading, specifically overseen by the CFTC and the SEC. Representative Maxine Waters, who is the top Democrat on the committee, vigorously criticized this bill, saying it’s a wish list favoring major players in the crypto industry.…

FridayJul 28, 2023 10:30 am

Why Texas Is on Cutting Edge of Crypto Mining

Texas has become a significant crypto-mining hub globally, mostly as a result of its fortunate combination of inexpensive electricity and a forgiving regulatory climate. A number of measures have recently been passed and have the potential to put the Lone Star state at the forefront of the development of crypto policy. The crypto-mining process uses supercomputers to solve extremely difficult mathematical puzzles to validate cryptocurrency transactions. Incentives such as cryptocurrency are given to miners as compensation for their efforts in resolving these issues. However, it is impossible to ignore how energy-intensive cryptocurrency mining is. According to 2021 research by The…