Day: January 21, 2023

FTX VCs liable to ‘serious questions’ around due diligence — CFTC Commissioner

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Amid ongoing investigations around the defunct crypto exchange FTX, the Commodity Futures Trading Commission (CFTC) questions the due diligence conducted by institutional investors and their accountability regarding the loss of users’ funds. CFTC Commissioner Christy Goldsmith Romero stated that VCs that had to write down their investments in millions of dollars to nearly zero raises “serious questions” about the due diligence conducted over the last year, speaking to Bloomberg. CFTC Commissioner Christy Goldsmith Romero questioning the VCs that once backed FTX. Source: Bloomberg She raised concerns about FTX CEO John…

CBDCs Are the Future of Central Bank Money but They Are Still Not Ready – Fintech Bitcoin News

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A World Economic Forum (WEF) panel comprised of central bankers and global tech providers has profiled central bank digital currencies (CBDCs) as the future of central bank money, presenting them as one of the solutions for limitations in the payments sector today. However, they have also stated these present several limitations still to be addressed. WEF Panel Explains Advantages of CBDCs A central bank digital currency panel, part of the World Economic Forum (WEF) Davos meetings, stressed it has high expectations for central bank digital currencies (CBDCs) as part of…

Ransomware Revenue Drops as Victims Pay Less Often, Chainalysis Reports – Security Bitcoin News

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While the number of ransomware hits may not have decreased significantly, the revenue from such attacks has fallen sharply last year, according to Chainalysis. The blockchain forensics firm believes that to a large extent the trend can be attributed to more of the targeted organizations refusing to pay the perpetrators. Chainalysis Registers Significant Decline in Revenue From Ransomware Attacks Over the course of 2022, ransomware actors have managed to extort at least $456.8 million from victims, Chainalysis revealed in a report published Thursday. The estimated amount is down from $765.6…

SBF to forfeit $700M worth of assets if found guilty of fraud

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According to new court filings, disgraced FTX founder Sam Bankman-Fried (SBF) will be subject to the forfeiture of roughly $700 million worth of assets if he were to be found guilty of fraud. In a court document filed on Jan 20, U.S. federal prosecutor Damian Williams outlined that the “government respectfully gives notice that the property subject to forfeiture” covers a long list of assets across fiat, shares and crypto. The filings state that most of the assets were seized by the government between Jan.4 and Jan. 19, while it…

Is Blockchain Dead? Time to Sell it All

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What is SingularityNET And Why Is Its AGIX Token Exploding By 116%?

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The popularity of artificial intelligence applications has been growing as popular platforms like SingularityNET and ChatGPT become mainstream. With Microsoft investing $10 billion on ChatGPT, we should expect AI applications to become more mainstream in the next few years.  AGIX, the native token of the SingularityNET, is capitalizing on this as it tallied huge gains since the start of 2023. According to CoinGecko, the token is up 116% in the past week (at the time of writing, Friday) with the biggest gains made at the bi-weekly time frame at 360%. …

Nothing Outlaws Crypto in India if Legal Procedures Are Followed, Says Government Official – Regulation Bitcoin News

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An Indian government official says that there is currently nothing that outlaws crypto in India “as long as you follow the legal process.” Meanwhile, the country’s central bank, the Reserve Bank of India (RBI), has stressed that “cryptocurrency does not have any underlying value.” Indian Government Official on Crypto Indian government official Rajeev Chandrasekhar talked about cryptocurrency Thursday at an event in Bengaluru. Chandrasekhar currently serves as both India’s Minister of State for Electronics and Information Technology and Minister of State for Skill Development and Entrepreneurship. He is also a…