Bitcoin News and Finance: What You Need to Know

A joint research effort by Korean regulators — the Financial Supervisory Service (FSS) and Korea Financial Intelligence Unit (FIU) — has revealed that seven out of 10 cryptocurrency exchanges in South Korea failed to fully return investors’ money after ceasing operations. “And even if they did, just one or two employees were tasked with giving […]

New York Attorney General Letitia James has sued Novatechfx, AWS Mining, and their founders for orchestrating crypto pyramid schemes that defrauded over 11,000 New Yorkers out of more than a billion dollars in cryptocurrency. These companies targeted vulnerable immigrant communities, particularly Haitians, with false promises of high returns. NYAG Letitia James Takes Action Against Crypto […]

Neil Leon De Waal, a key figure in the GS Partners metaverse fraud case, was reportedly arrested by South African law enforcement in late May. He was subsequently released on bail on June 3. Authorities began investigating De Waal following a complaint from one of his victims. The complainant, who lives in Benoni, had to […]

Ethereum co-founder Vitalik Buterin has expressed his dissatisfaction with the current wave of celebrity crypto projects, emphasizing their lack of meaningful societal contributions. He highlighted projects like Stoner Cats, which actually fund real initiatives, as more commendable. Buterin also detailed the criteria that celebrity crypto projects must meet to gain his respect. Vitalik Buterin Critiques […]

Rich Dad Poor Dad author Robert Kiyosaki has emphasized that his prediction of bitcoin hitting $350K on Aug. 25 “is not a lie.” He also expressed his bullish outlook for ethereum and solana, noting that he will keep buying the three cryptocurrencies because he is “quite certain their prices will continue to rise.” Robert Kiyosaki […]

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has stated that spot ethereum exchange-traded funds (ETFs) “will take some time” to commence trading, highlighting the necessity for a thorough disclosure process. Additionally, Gensler emphasized the lack of proper disclosure provided by crypto exchanges to investors. Spot Ether ETFs ‘Will Take Some Time’ The chairman […]

A new meme token, hulkmania (HULK), has recently entered the dynamic world of meme coins. It appears to have garnered attention from the legendary wrestler Hulk Hogan’s X account, which referenced it on the social media platform. However, the post on the @hulkhogan X account has been deleted, raising the possibility that his account may […]

The 2024 BNY Mellon Wealth Management Study reveals a divided perspective among family offices regarding cryptocurrency investments. Approximately 39% of the surveyed family offices are either actively investing in cryptocurrencies or considering them, highlighting a keen interest in this modern asset class. These offices are motivated by the desire to stay abreast of new investment […]

Backed by major financial institutions like Blackrock and Citadel Securities, TXSE Group Inc. has announced its plan to launch the Texas Stock Exchange (TXSE) in Dallas. This new exchange will provide a platform to trade and list public companies and exchange-traded products. With a capital raise of approximately $120 million, TXSE stated that it is […]

Paolo Ardoino of Tether and Bobby Ong of Coingecko have warned of a potential supply chain attack on the crypto industry. They reported that a prominent vendor managing mailing lists for crypto companies may have been compromised, urging caution against phishing emails related to fake crypto airdrops. ‘Beware of Any Emails Suggesting Crypto Airdrops’ Paolo […]

The president of Ripple Labs has criticized the U.S. Securities and Exchange Commission (SEC)’s approach to regulating the crypto sector, emphasizing that the regulator is on a “warpath” with the industry. She highlighted the inefficiency of the current approach, stating: “This whole dynamic of setting rules through enforcement … is really unproductive and not getting […]

A new report by crypto exchange Bybit shows that meme coins are becoming significant components of crypto portfolios. Institutional meme coin holdings surged 226% from February to March while retail meme coin holdings spiked 478% from February to April. However, they “aggressively sold off” their meme coins when market sentiment soured. ‘We Saw a Large […]

Veteran trader Peter Brandt has emphasized the symmetry in bitcoin bull market cycles, suggesting the next peak may occur in late August or early September 2025, with the price of bitcoin potentially reaching $150,000. However, Brandt remains cautious, assigning a 25% probability that the cryptocurrency has already peaked this cycle. ‘The High of This Bull […]

A Federal court in Australia has relieved the crypto firm Block Earner from paying a penalty for breaching the financial services law when it offered the Earner product. According to the ruling, Block Earner “acted honestly and not carelessly,” hence it should not be made to pay a pecuniary penalty. The Federal Court judge criticized […]

The digital yuan app, which services users of the Chinese CBDC, has dropped the ‘pilot’ label from its name without any announcement, prompting speculation about an upcoming move to production stages. While local Chinese news outlets explained that this change had to do with app requirements, some expect this might be a step before its […]

Dapper Labs, a blockchain technology and digital collectibles company, has reached a favorable settlement in the legal case Friel vs. Dapper Labs, establishing that NBA Top Shot Moments are not securities. The company emphasizes that this significant ruling clarifies the legal status of digital collectibles and ensures the continued decentralization of the Flow blockchain. Dapper […]

Out of the approximately $60 million (ZAR1.1 billion) that was recovered to pay back victims of the collapsed bitcoin investment platform Mirror Trading International (MTI), only $34.3 million remains. Court documents reportedly state that liquidators have used the recovered funds to pay an outstanding tax liability of $15.2 million and legal fees of $7.78 million. […]

According to data from June 3, an entity with eight wallets created in 2013 moved 200 BTC valued at $13.87 million after the funds remained untouched for over 11 years. If sold today, the value of these bitcoins has increased by 197,785% since their acquisition. Spending 200 Bitcoin Unveils Previous Transactions From 2013 On Monday, […]

Hong Kong’s Securities and Futures Commission (SFC) has published a list of two licensed crypto trading platforms and 17 pending applicants under the new regulations that went into effect on June 1. The financial regulator stresses that operating without a license is a criminal offense and commits to taking appropriate actions against any legal breaches. […]

Nobel Prize-winning economist Paul Krugman and gold advocate Peter Schiff are in disagreement over inflation. Krugman believes that “the inflation bump is over.” However, Schiff argues that Krugman didn’t even foresee the inflation bump, emphasizing that the Nobel laureate’s view on inflation should be disregarded. Schiff explained that “all indicators point to a reacceleration of […]

Coinbase’s chief legal officer, Paul Grewal, announced that the crypto exchange has filed a closing brief in the Third Circuit challenging the SEC’s denial of their rulemaking petition. The brief argues that the SEC’s order, which disagrees with claims that SEC rules are unworkable for digital asset firms, lacks reasoned decision-making. Grewal asserts that the […]

Veteran trader Peter Brandt, with over four decades of experience, has highlighted bitcoin’s consistent gains against gold since its inception, foreseeing that 100 ounces of gold will be needed to buy a bitcoin. Meanwhile, Peter Schiff has insisted that the cryptocurrency “has underperformed gold for the past 2.5 years.” Peter Brandt Foresees Bitcoin Hitting 100 […]

Former U.S. President and presidential candidate Donald Trump’s crypto portfolio now exceeds $14 million, according to Arkham Intelligence’s onchain tracking tool. His crypto holdings include a significant amount of meme coins, which were airdropped to him by various developers. Trump has been convicted of 34 felony counts related to falsifying business records, marking the first […]

JPMorgan has predicted an initial negative market reaction for spot ethereum exchange-traded funds (ETFs), expecting lower demand compared to bitcoin ETFs. The global investment bank also cautions that approximately $1 billion may exit the Grayscale Ethereum Trust, putting downward pressure on ether prices shortly after the launch of spot ethereum ETFs. ‘Initial Market Reaction to […]

The bankruptcy proceedings of Bittrex Inc. involved a legal dispute over claims filed by Azim Ghader, who sought recovery for lost profits and damages after his cryptocurrency was frozen on the Bittrex exchange in 2017. The United States Bankruptcy Court for the District of Delaware found that Bittrex had complied with legal requirements and upheld […]

Cathie Wood’s Ark Investment Management has withdrawn from the race to launch a spot ether exchange-traded fund (ETF), as its name was removed from the application filed with 21shares. The ETF, now renamed 21shares Core Ethereum ETF, reflects Ark’s decision not to pursue the ether ETF at this time. Despite this, Ark remains committed to […]

Penguiana, the distinctive penguin-themed meme coin on the Solana blockchain, continues to captivate the crypto community, achieving a new milestone by doubling its market cap to over $2.5 million according to Dexscreener. This surge in valuation underscores the strong investor confidence and community enthusiasm surrounding the project, especially with the impending launch of the GUIANA […]

Metaplex, a Solana-based protocol that allows for the easy deployment of NFTs across applications, has introduced MPL-404, a hybrid decentralized finance standard. MPL-404 leans on SPL-404, a protocol that allows for the exchange of an NFT for a fixed number of tokens assigned by the designers of each artistic collection. Metaplex Aims to Extend Hybrid […]

U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce has proposed a joint US-UK digital securities sandbox. She noted that the U.S. and UK are ideally positioned for this initiative, emphasizing that this collaboration would benefit innovators, regulators, and consumers in both countries. Hester Peirce Pushes for US-UK Collaborative Financial Sandbox U.S. Securities and Exchange […]

Global investment bank JPMorgan’s JPM Coin has seen a significant surge in transactions, according to Umar Farooq, head of Onyx by JP Morgan. During a session at the Consensus conference, Farooq stated, “We’ve seen the number of transactions explode by factors of 10, if not hundreds. Fewer larger transactions, lots of smaller transactions.” He noted […]