Day: January 26, 2023

South Korean Prosecutors Put Request to Arrest Bithumb Owners

Bithumb CEO Kang Ji-Yeon and two other executives are facing charges of embezzlement, breach of trust, and conducting fraudulent illegal transactions. On Wednesday, January 25, a Korean news publication reported that South Korean prosecutors are seeking the arrest of the chairman and owner of crypto exchange Bithumb Kang Jong-Hyun. Kang along with his younger sister Kang Ji-Yeon, the CEO of two publicly traded Bithumb affiliates, have been accused of embezzlement, breach of trust, and conducting fraudulent illegal transactions by the Seoul Southern District Prosecutor’s Office. The Financial Investigation 2nd Division…

Nifty Gateway Co-founders to Step Down amid Gemini Woes

The departure of the Nifty Gateway co-founders comes one week after Gemini’s partner, Genesis Global Capital, filed for bankruptcy protection. Nifty Gateway co-founders, Duncan and Griffin Cock Foster, have announced their intention to step down from the company. While the exact timeline is unknown, the brothers have stayed on for the four years initially agreed upon after Gemini acquired the company. Recall that Gemini acquired Nifty Gateway in 2019 before NFTs became lucrative. According to Duncan Cock Forster, they “ended up staying the max amount of time we originally thought…

‘Prohibitive’ Capital Rules for Banks Holding Crypto Win Support in EU Parliament – Finance Bitcoin News

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Lawmakers in the European Union have backed legislation imposing new capital requirements for financial institutions, including strict rules meant to cover crypto-related risks. The latter concern banks keeping digital assets and are expected to enter into force in January, 2025. EU Legislators Approve Draft Law Implementing the Basel III Capital Regulations for Banks Members of the European Parliament’s Committee on Economic and Monetary Affairs (ECON) supported a bill on Tuesday designed to enforce the latest global bank capital rules. Reuters noted in a report that the lawmakers have also incorporated…

New York Court Denies 3 Celsius Users’ Motion to Reclaim Assets

Claimants argue that Celsius bever mentioned anything about transferring ownership and control of assets to debtors. In what could be setting a major precedent, the United States Bankruptcy Court in the Southern District of New York has dismissed the claims of three users of the bankrupt crypto lender Celsius Network. According to orders filed with the bankruptcy court, the three individuals are identified as Rebecca Gallagher, Mark Benzaken, and Kulpreet Khanuja. The trio submitted arguments to the court about their “Earn” assets which had been stuck on the Celsius platform…

Central African Republic Sets Up Committee Tasked With Drafting Crypto Bill – Africa Bitcoin News

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The Central African Republic (CAR) president, Faustin-Archange Touadéra, recently said his government has established a 15-member committee tasked with creating a comprehensive legal framework that governs the use of cryptocurrencies. According to an official document issued by the CAR cabinet, the committee has already started its work and will regularly update the government. CAR’s Ambitions The Central African Republic (CAR) leader, Faustin-Archange Touadéra, recently revealed that his country has set up a committee that is expected to draft a bill on the use of cryptocurrencies. The committee, which is comprised…

Aptos (APT) Price Snowballs 147% As On-Chain Development Shoots Up

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The Aptos Mainnet was only launched in full back in October 2022 in the midst of last year’s tumultuous bear market. Since then, the developmbnt team of Aptos has been busy. According to Santiment, development on-chain has been nearly consistent even as it is a far cry from all-time-high levels.  Because of this, CoinGecko noted a strong bullish push as the native token of Aptos, APT, soared 147% in the weekly time frame. Adding on to the bullishness is the current sentiment surrounding cryptocurrencies.  According to recent news, the market…

Mango Markets sues Avraham Eisenberg for $47M in damages plus interest

Mango Labs, the company behind the decentralized finance (DeFi) protocol Mango Markets has come out with its own lawsuit against exploiter Avraham Eisenberg. The Jan. 25 filing in the United States District Court for the Southern District of New York alleges Einseberg of exploiting its platform for millions of dollars worth of cryptocurrencies in October 2022. It asks for $47 million in damages plus interest starting from the time of the attack. It also asked the court to rescind an agreement made between Eisenberg and Mango’s related DAO and declare…

$90M in stolen crypto seen shifting

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A hacker dubbed the “Blockchain Bandit” has finally woken from a six-year slumber and has started to move their ill-gotten gains. According to Chainalysis, around $90 million in crypto pilfered from the attacker’s long-running string of “programmatic theft” since 2016 has started moving over the past week. This included 51,000 Ether (ETH) and 470 Bitcoin (BTC), worth around $90 million leaving the Bandit’s address for a new one, with Chainalysis noting: “We suspect that the bandit is moving their funds given the recent jump in prices.” The hacker was dubbed…

Crypto industry leaders ‘scared of a strong SEC’ — Senator Warren

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United States senator and crypto skeptic Elizabeth Warren wants the Securities Exchange Commission (SEC) to “double down” on its crypto enforcement efforts, highlighting that the cryptocurrency industry is running “scared” for what’s to come next. Warren’s comments came during an interview with the American Economic Liberties Projects on Jan. 25. The senator opined that since Gensler was sworn in as SEC chairman in April 2021, the Commission “has made a good start” on fixing some of the problems created by the former SEC leaders under the Trump Administration. Senator Elizabeth…

What Coin To Invest In 2023 – Dogecoin (DOGE), Orbeon Protocol (ORBN), Or FTX Token (FTT)

Place/Date: – January 26th, 2023 at 5:16 am UTC · 3 min read Source: Orbeon Protocol Millions of cryptocurrency tokens are being released every single day. Keeping track of what should be in an investors investment portfolio can take time and effort. But no worries, we have discovered a new token in phase 4 of its presale currently, which may bring 20x the profit in 2023 – Orbeon Protocol (ORBN). It will soon be seen how it will stack up against coins such as Dogecoin (DOGE) and the FTX Token…