Author: Max Bauer
A 21-year-old Indiana man has admitted to his involvement in a cybercrime scheme that resulted in the theft of over $37 million in cryptocurrency. Evan Frederick Light, of Lebanon, Indiana, pleaded guilty on Monday, September 30, to charges of conspiracy to commit wire fraud and conspiracy to launder monetary instruments. U.S. Justice Department Says It’s Determined to Crack Down on Cryptocurrency Theft According to federal prosecutors, Light was part of a group that hacked into an investment holdings company in Sioux Falls, South Dakota, in February 2022. The hackers stole personal information from hundreds of customers and then used that…
There are unconfirmed reports circulating in the cryptocurrency community that Bitwise, a prominent digital asset investment firm, has registered in Delaware for an XRP exchange-traded fund (ETF). While this information has not been officially confirmed by Bitwise or regulatory authorities, it has gained traction following a statement by journalist Eleanor Terrett, known for her coverage of XRP news, on the social media platform X. Terrett confirmed the registration without providing further details. It’s worth noting that in the past, similar claims about XRP ETF registrations have proven to be false or misleading. Given the history of false or misleading information…
Cryptocurrencies took a significant hit on Tuesday, with Ethereum briefly dipping below $2,500 and Bitcoin falling below $62,000. The decline was fueled by a combination of geopolitical tensions and economic uncertainty. Iran-Israel Conflict Caused Mild Downturn in Bitcoin and Other Cryptos The immediate catalyst for the market downturn was the firing of missiles from Iran into Israel. While investors initially anticipated a relatively muted response from Iran, the potential for a major escalation in the Middle East caused widespread concern. Lekker Capital founder Quinn Thompson explained that markets are forward-looking and tend to price in potential risks. “Even if there…
A recent surge in stablecoin market capitalization could be a precursor to a potential uptrend in bitcoin and other major cryptocurrencies, according to a crypto analyst. Julio Moreno, Head of Research at CryptoQuant, told Cointelegraph that the increasing market cap of stablecoins is a critical factor in driving cryptocurrency price growth, as they provide liquidity to crypto markets. “Stablecoins on exchanges have grown, with USDT reserves on centralized exchanges also reaching a record-high of $22.5 billion so far in 2024,” Moreno said, citing data from CryptoQuant. The analyst pointed to data that showed the stablecoin market capitalization has reached…
Iran allegedly launched missiles towards Israel, prompting a swift response from global markets and political leaders. According to eyewitness reports, a missile was intercepted over Jordanian airspace as it approached Jerusalem. Explosions were also heard in the city, heightening tensions across the region. Israel’s military confirmed that sirens were sounded across the country, urging civilians to enter air-raid shelters. Meanwhile, Iranian state television hinted at an official statement from the Revolutionary Guard, with speculation mounting over further military action. In the United States, President Joe Biden convened an emergency meeting with Vice President Kamala Harris and the national security team…
Fenbushi Capital, a prominent Chinese venture capital firm focused on blockchain and cryptocurrency investments, has sold $5.14 million in altcoins, according to blockchain analytics firm Lookonchain. Here is the Altcoins the Chinese VC Sold The sale, which occurred three hours ago, involved a variety of tokens, including: However, the sale appears to have resulted in significant losses for Fenbushi Capital. The firm lost US$2.44 million (-90%) on SUSHI, US$2.27 million (-82%) on COMP, US$1.53 million (-42%) on UNI, and US$499,000 (-15%) on AAVE. In addition to Fenbushi Capital’s sale, a large Ethereum whale has also been active in the altcoins.…
Binance, the world’s leading cryptocurrency exchange, announced today that it has been officially registered with the Argentine National Securities Commission (CNV) as a Virtual Asset Service Provider (VASP). This marks company’s 20th regulatory milestone globally and expands its services to users in Argentina. Binance Released a Statement on the Issue on its Official Blog Page With this registration, company’s website and app are now fully accessible to Argentine residents, providing them with access to a wide range of cryptocurrency services, including trading, investing, and custody. “This achievement underscores Binance’s commitment to compliance and forward-looking regulation,” said company’s in an official…
The FTX Debtors have released an update on the proposed settlement with preferred shareholders, stating their intention to return 100% of the assets under FTX’s control to creditors as part of the Chapter 11 bankruptcy plan. FTX Debtors Shares Updates on X According to the post from official X account, the U.S. Department of Justice (DOJ) is overseeing the distribution of assets forfeited through related criminal cases and has recognized both preferred shareholders and creditors as victims under criminal law. “The FTX Debtors and the preferred shareholders have competing claims to the forfeiture proceeds,” the statement explained. “While the DOJ…
Bitcoin concluded a historically strong September with a downturn, but market analysts are anticipating a significant rally following the upcoming U.S. elections. Analysts Expect Bitcoin Rally After US Elections Despite October being a historically bullish month for cryptocurrencies, options traders are predicting Bitcoin rally in the short term. Jake Ostrovskis, an OTC trader at crypto market maker Wintermute, noted that the current positioning suggests support for a post-election rally. The broader cryptocurrency market also experienced a decline on Monday, with traditional markets showing signs of weakness as well. U.S. equity indexes and key European markets retreated, while Japan’s Nikkei index…
Ohio State Senator Niraj Antani has introduced legislation that would once again allow Ohioans to pay state and local taxes using cryptocurrency. The bill aims to reverse a situation where, despite a 2018 initiative to accept cryptocurrencies for tax payments, the State Board of Deposits has failed to take the necessary action to implement the policy. There Was A Similar Bitcoin Initiative In The State Before Senator Antani, who describes himself as the “most pro-cryptocurrency Member of the Ohio Senate,” argues that accepting cryptocurrency for taxes is not only forward-thinking but also essential for fostering innovation and free enterprise within…