Day: February 15, 2023

Former FTX Executive Accused of Fueling a Charity Through Discounted FTT Purchase – Bitcoin News

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A former executive of FTX allegedly earned profits for a charity by purchasing discounted FTX tokens, FTT, before they became available to the public at $0.05 per unit, according to a report citing anonymous sources. Ruairi Donnelly, the former chief of staff at FTX, has been accused of donating the tokens to Polaris Ventures, a charitable organization based in Switzerland, which later sold the FTT for millions of dollars. Anonymous Sources Claim Polaris Ventures Gained Most of Its Wealth From FTT Transfer in 2019 According to a report from the…

SEC Proposal Could Bar Investment Advisers From Keeping Assets at Crypto Firms

One of the commissioners, Mark Uyeda, raised a key point for crypto: If the agency is trying to force advisers to go to banks with their clients’ crypto assets, and the bank regulators are cautioning banks against crypto activity, is it making crypto investing impossible through the advisers? He said the proposal in multiple ways seems to “mask a policy decision” to block crypto activity, though he initially chose to support it. Source

What are the applications of NFTs in supply chains?

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Real-time tracking, settlement and documentation of the supply chain cannot only create more efficiencies for businesses but also help with better financial products that they can rely on for their operating capital. NFTs create a digital record that is immutable and transparent. What this offers the supply chain industry is a transparent trail where everyone in the ecosystem would have complete visibility. Therefore, right from producing the raw material for goods to displaying them on a website or brick-and-mortar shop, the usage of NFTs will provide traceability and help in…

The SEC Is Taking Aim at Paxos and (Annoyingly) It’s Good For Bitcoin

I want to put aside the staking provider conversation to focus on the consequences of policies aimed at Paxos and stablecoins instead. With stablecoins as the focus, the White House’s sentiment encapsulated in the above quote is perfect, and you’d be hard-pressed to find anyone who could argue against it in good faith. Expanding access to sound financial services empowers people, which raises the quality of life across the board. But sentiment needs to be met with action to mean anything. Source

Can you trust crypto exchanges after the collapse of FTX? – Cointelegraph Magazine

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On Oct. 25, 2022 — about two weeks before the collapse of the world’s third-largest cryptocurrency exchange, FTX — prominent DeFi architect Andre Cronje published a foreboding article with a chilling warning on the state of centralized cryptocurrency exchanges: “Remedies under the current regulatory regime are ineffective. Most investors sign away their rights to their crypto in voluminous terms and conditions of crypto-exchanges and many will (at best) rank as unsecured creditors should these exchange services be liquidated. Crypto exchange and crypto investment service providers are essentially operating as banks,…

Business fined £200,000 for making over 1.7million unlawful calls

Company fined £200,000 for nuisance call campaign It’s OK Ltd made 1,752,149 nuisance calls over 11-month period, representing average of over three calls per minute Elderly and vulnerable potentially targeted The Information Commissioner’s Office (ICO) has today fined It’s OK Ltd £200,000 for what it called a “sustained and exploitative campaign” of nuisance calls. It’s OK Ltd have been found to have made 1,752,149 nuisance calls over the period 1 July 2019 to 1 June 2020 to people registered with the Telephone Preference Service (TPS), representing an average of over…

BTC, ETH Extend Gains Following US Inflation Report – Market Updates Bitcoin News

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Bitcoin traded above $22,000 on Feb. 15, as markets continue to react to the latest U.S. inflation report. The consumer price index rose 0.5% in January, following a gain of 0.1% the month prior. Overall, the annual rate of inflation came in at 6.4%, which, although lower than December’s sum of 6.5%, was higher than the expected 6.2%. Ethereum also rallied on hump-day. Bitcoin Bitcoin (BTC) remained above $22,000 on Wednesday, with traders continuing to digest the latest inflation report in the United States. Following a low of $21,632.39 on…

Napster Revives Its Music Ambitions With Web3 Acquisition of Mint Songs

“We are in an unprecedented era of innovation in the digital music space and it feels like there have been more music startups formed in the last two to three years than in the previous 20,” Jon Vlassopulos, CEO of Napster, said in a press release. “It’s inspiring to see so many talented teams pushing to create a music ecosystem that is better for artists and fans.” Source