Bitcoin News and Finance: What You Need to Know

In 2023, several SIM swap attacks have targeted cryptocurrency advocates and high-profile industry members, including Ethereum co-founder Vitalik Buterin. Below is a comprehensive guide aimed at educating our readers on mitigating SIM swap attacks and safeguarding against hacks. Understanding the Threat: Unmasking SIM Swap Attacks Recently, Bitcoin.com News reported that Ethereum co-founder Vitalik Buterin fell victim to a SIM swap attack. Moreover, this week, an Ethereum ( ETH ) investor suffered a SIM swap attack, losing 22 ETH on the friend.tech blockchain social media platform, which operates on the Base network. Unfortunately, a significant number of SIM swap attacks are targeting crypto investors. The subsequent walkthrough will guide our readers on how to avert a SIM swap attack. So, what is a SIM swap attack? A SIM swap attack is a type of fraud in which a malicious actor deceives a mobile carrier into transferring the victim’s phone number to a new SIM card controlled b...

Former FTX chief technology officer Gary Wang took the stand on Thursday in the trial of FTX founder Sam Bankman-Fried. Wang admitted to committing financial crimes with Bankman-Fried, former Alameda CEO Caroline Ellison, and former FTX engineering executive Nishad Singh. From High School to Scandal: The Unraveling Ties of FTX’s Wang and Bankman-Fried Zixiao (Gary) Wang testified that they allowed FTX sister company Alameda Research to withdraw unlimited funds from the exchange. He said these special privileges for Alameda were coded into FTX’s systems. The testimony was published on the social media platform X by Matthew Russell Lee from Inner City Press . Wang has known Sam Bankman-Fried since high school, when they met at a summer camp in Minnesota. After college, Wang worked at Google before joining Bankman-Fried at cryptocurrency trading firm Alameda Research . When asked about the wire fraud, Wang stated: We allowed Alameda to withdraw unlimited funds. Wang explained t...

The Monetary Authority of Singapore (MAS) has granted Ripple a full license to provide crypto services. “This license underscores the real-world utility of crypto solutions for businesses and financial institutions alike, marking an important step towards wider adoption of digital assets,” Ripple explained. Ripple Fully Licensed in Singapore Ripple announced Tuesday that it is now fully licensed in Singapore. The company explained that its Singaporean subsidiary, Ripple Markets APAC Pte Ltd., has received a full Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS) to provide digital payment token services, four months after receiving in-principle approval. The announcement details: This license underscores the real-world utility of crypto solutions for businesses and financial institutions alike, marking an important step towards wider adoption of digital assets. “Singapore is known as a leader in pioneering digital asset regulation, making it ...

JPMorgan Chase CEO Jamie Dimon has warned of two “extraordinary” things happening today that may have “bad outcomes” for the U.S. economy. Moreover, the executive has urged investors and businesses to be prepared for higher interest rates. “I don’t think inflation will keep going down,” he noted, adding that in the worst-case scenario, you will see “a lot of people struggling.” Jamie Dimon’s Storm Clouds JPMorgan Chase CEO Jamie Dimon shared his economic outlook in an interview with Bloomberg earlier this week. Regarding the broader U.S. economy, he said: There are two things which are extraordinary today, which may have different outcomes — think of them as storm clouds. “We don’t know if they are going to hit, when they are going to hit, what they are going to do, so I’m not predicting that,” he added. The JPMorgan executive began talking about storm clouds hovering over the U.S. economy last year. At the time, he cautioned that it could actually be a hurricane . However, earl...

During the Sam Bankman-Fried trial this week, Adam Yedidia, a close friend and former employee of the ex-FTX chief, delivered his testimony. Yedidia had a brief stint as an intern at Alameda Research, a quantitative trading firm linked to FTX, before he transitioned to FTX’s Hong Kong office in early 2021. Additionally, he was part of the FTX executive team residing at the Albany Place luxury resort in the Bahamas. Ex-FTX Developer Talks $8 Billion Code Glitch and Use of Client Funds On Thursday, Yedidia returned to the witness stand for his second day. As Wednesday’s session concluded, he revealed that he got a call informing him that Alameda was misusing client funds. Disturbed by this revelation, Yedidia stepped down. Soon after, FTX faced bankruptcy , grappling with liquidity challenges and failing to process client withdrawals. Much of Yedidia’s questioning was broadcast on the social platform X, courtesy of Matthew Russell Lee from Inner City Press . Since his resignation, Y...

GoMining is an innovative cryptocurrency mining project driven by a vision to revolutionize the industry and promote inclusivity. With the objective of making crypto mining accessible, efficient, and highly profitable for individuals of all backgrounds, they have assembled a team of accomplished professionals with extensive expertise in enterprise IT and FinTech. Mark Zalan is the CEO of GoMining . He recently joined the Bitcoin.com News Podcast to talk about the business. Among the topics discussed were the various challenges for companies in the space, the way crypto mining helps develop sustainable and renewable energy sources and the future of the market in 2024 and beyond. Mark Zalan is an experienced professional in the field of enterprise IT and FinTech, with a career spanning over 20 years. He began his journey in the late 90s, working as a network security engineer for Silicon Valley startups. Over time, he progressed into leadership roles, overseeing teams of IT profess...

According to a report, the spouse of Three Arrows Capital (3AC) co-founder Su Zhu has transformed their residence into a farmstead. The farm reportedly boasts numerous garden beds, a variety of composting zones, and the couple’s swimming pool has been converted into a natural pond. Report Spotlights an Urban Farm Flourishing Amid 3AC’s Financial Ruins After the disclosure that 3AC co-founder Su Zhu was arrested in Singapore at Changi Airport, a report from The Business Times reveals that the former crypto hedge fund manager’s dwelling has evolved into a pastoral farm haven. The homestead, valued at $35 million when the pair acquired the bungalow, has allegedly been artistically reimagined by the 3AC co-founder’s spouse, Dr. Evelyn Tao. The property is located in the Yarwood Avenue area in District 21 and the region showcases several Balinese-styled homes for sale. The Business Times report indicates that the sprawling property owned by Zhu and Tao now features several gardens an...