The co-founder of AirBit Club — a cryptocurrency pyramid scheme that swindled investors of over $100 million — has been sentenced to 12 years in prison for his role in a $100 million “pyramid scheme” that purported to be involved in crypto mining. The sentencing comes nearly seven months after Rodriguez — the co-founder of
Prosecutors from the United States Department of Justice will be allowed to surface the details of Sam Bankman-Fried’s political donations as the evidence is directly relevant to his fraud charges, ruled U.S. District Judge Lewis Kaplan. The decision was part of a series of rulings made by Kaplan in a 16-page pretrial order on Sept.
Stablecoin issuer Circle has launched a Stellar network version of its euro-backed stablecoin, EURC, according to a Sept. 26 announcement. EURC was previously only available on the Ethereum and Avalanche networks. Hello Europe meet our new friend EURC on #Stellar. Same speed, low cost, and reliability of the Stellar network we all know and love
The relationship between Bitcoin’s price and U.S. Treasury yields has long been considered a strong indicator due to historical data and the underlying rationale. Bitcoin halvings vs. 10-year Treasury yields In essence, when investors turn to government-issued bonds for safety, assets like Bitcoin (BTC), which are considered risk-on, tend to perform poorly. A noteworthy chart
The Federal Reserve Banks of Boston and New York published a staff report on Sep. 26 comparing stablecoins, such as USDT and USDC, to money market funds. Key findings in the report include the observation that stablecoins and money market funds follow similar patterns during runs and that stablecoins could inject instability into the broader
Litecoin (LTC) has spent the past week trading within a tight price range, with its value hovering steadily around the mid-range point of $64. The price action for LTC in September has remained primarily bearish, with sellers maintaining control over the market. While LTC has a history of volatile price swings, recent times have seen
Decentralized oracle network Chainlink has downplayed a recent change in the number of signers required on its multisig wallet — a move that garnered backlash on social media from vocal critics. Crypto researcher Chris Blec was among a number of users on X (formerly known as Twitter) who called out Chainlink for quietly reducing the
Tim Draper is a prominent venture capitalist, the founder of Draper University and the creator of the Meet The Drapers television series. He invested early in Tesla, SpaceX and Coinbase and has 254,000 followers on X. “Let me get my second prediction to actually happen, and then we’ll move on to other predictions,” Tim Draper
In what could be described as a relentless pursuit for granular transparency regarding the Securities and Exchange Commission’s (SEC) prior actions vis-à-vis cryptocurrencies and Ripple, Empower Oversight Whistleblowers & Research—a rigorous watchdog entity—has spearheaded another incisive Freedom of Information Act (FOIA) endeavor. This stratagem is centered on elucidating the inter-communications of Jay Clayton, erstwhile SEC
The Dollar Strength Index (DXY) achieved its highest level in nearly 10 months on Sep. 22, indicating growing confidence in the U.S. dollar compared to other fiat currencies like the British pound, euro, Japanese yen, and Swiss franc. DXY “golden cross” confir Moreover, investors are concerned that this surge in demand for the U.S. dollar
Hours after the crypto exchange HTX (rebranded from Huobi) reported a hack that resulted in a loss of $8 million, Changpeng ‘CZ’ Zhao offered the help of the Binance security team in investigating the attack. Timely intervention is key to tracking down and retrieving stolen cryptocurrencies as hackers attempt to hide their tracks using mixers
Arbitrum, a major Layer 2 solution for the Ethereum blockchain, has officially added the unclaimed tokens from the Arbitrum airdrop to its network’s treasury. The Arbitrum Foundation sent 69.4 million unclaimed Arbitrum (ARB) tokens to the Arbitrum’s decentralized autonomous organization (DAO) treasury on Sept. 24, the foundation announced on X (formerly Twitter). The foundation emphasized
The price of Optimism’s native OP token is leading losses among the top 50 cryptocurrencies, falling as far as 10% on the week ahead of a $30 million token unlock. According to data from tokenomics platform Token Unlocks, 24.16 million OP tokens, which account for roughly 3% of the circulating supply — are scheduled to
MicroStrategy, a business intelligence firm and major Bitcoin (BTC) investor, is sending a bullish signal to the market by announcing the acquisition of another big stash of cryptocurrency. Michael Saylor, co-founder and executive chairman of MicroStrategy, took to X (formerly Twitter) on Sept. 25 to announce a 5,445 BTC purchase by the firm. The coins
The creditors involved in the Celsius bankruptcy case have voted in favor of a plan that will see funds returned to them as well as distributing equity through a new company. According to a Sept. 25 filing from bankruptcy firm Stretto, most of the classes voted in favor of the plan by more than 98%.
A “glitch” in MetaMask that caused it to overestimate opBNB gas fees has now been fixed, according to a social media post from BNB Chain. Many users pay the default recommended fee displayed in their wallets, so a misestimation can cause users to overpay. Together with our friends at @MetaMask, we’ve resolved a glitch that
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