As the U.S. Securities and Exchange Commission is considering whether to approve or deny asset manager Grayscale’s application for a Bitcoin spot exchange-traded fund (ETF), the firm has called on American investors to submit comments to the regulator. In a Tuesday Twitter thread, Grayscale CEO Michael Sonnenshein announced the launch of an advocacy campaign for…
A former executive from the Securities and Exchange Commission believes the regulator has a good chance of losing its $1.3 billion lawsuit against Ripple “on the merits” of the case. Attorney Joseph Hall also voiced concerns over what the SEC’s endgame could be regarding the high-stakes case against Ripple (XRP), which will have ramifications for…
The rise of community-oriented blockchain security companies may be making it more difficult for alleged bad actors to get away without a trace. Early Wednesday, CertiK issued a community alert regarding Flurry Finance, where its smart contracts were allegedly breached by hackers, leading to $293,000 worth of funds being stolen. Shortly after the incident, CertiK…
Prime Minister of Canada Justin Trudeau has announced he will repeal emergency powers used to freeze $8 million from 210 bank accounts connected to Canadian ‘Freedom Convoy’ protestors, according to CBC news. On Feb. 24, Trudeau stated in a televised press conference that “we’re ready to confirm that the situation is no longer an emergency”…
Anton Bukov, the co-founder of 1inch Network, thinks that Ethereum will likely become the main settlement layer for a multi-chain decentralized finance (DeFi) ecosystem. “There is like a high chance that most of the chains will try to commit their states to Ethereum as a higher layer,” Bukov said in an exclusive interview with Cointelegraph….
Crypto-friendly digital payments tech firm Block, Inc. (formerly known as Square) posted $1.18 billion worth of gross profit in Q4, representing a growth of 47% over the same period in 2020. The firm led by Bitcoin maxi Jack Dorsey has multiple business arms including Cash App, Square, and the freshly acquired buy now pay later…
The parliament of the European Union is delaying a vote on a framework aimed at regulating cryptocurrencies amid concerns over proof-of-work mining. In a Friday Twitter thread, European Parliament economics committee member Stefan Berger said the government body had canceled a vote on the Markets in Crypto Assets, or MiCA, framework scheduled to take place…
The founder of the infamous crypto exchange BitConnect, Satish Kumbhani, has been charged for allegedly misleading investors globally and defrauding them of $2.4 billion in the process. According to the Department of Justice (DOJ), a San Diego-based federal grand jury specifically charged Kumbhani for orchestrating the alleged Ponzi scheme via BitConnect’s “Lending Program”: “BitConnect operated…
The seizure by the U.S. Department of Justice of $3.6 billion worth of Bitcoin (BTC) lost during the 2016 hack of Bitfinex’s cryptocurrency exchange has all the ingredients of a Hollywood film — eye-popping sums, colorful protagonists and crypto cloak-and-dagger — so much so that Netflix has already commissioned a docuseries. But, who are the…
The European Commission announced to remove a number of Russian banks from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) messaging system, aimed at hindering Russia’s capacity to carry out cross-border payments. In a joint statement released by the European Commission, leaders from France, Germany, Italy, the United Kingdom, Canada, and the United States highlighted…
