Day: February 28, 2023

Report Claims Visa and Mastercard Plan to Pause New Partnerships, Visa’s Head of Crypto Insists ‘Story Is Inaccurate’ – Bitcoin News

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According to a recent report from sources familiar with the matter, Mastercard and Visa, the credit card and payment services giants, are halting new partnerships with cryptocurrency firms. This news comes after the collapse of several cryptocurrency ventures that offered crypto debit cards and failed due to financial difficulties last year. After the report published, Visa’s head of crypto, Cuy Sheffield, criticized the story as “inaccurate as it pertains to Visa.” Visa and Mastercard Clarify Their Stance on Cryptocurrency Despite Alleged Partnership Halt A report published by Reuters on Tuesday…

Former FTX Director to reportedly plead guilty to fraud charges

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Nishad Singh, former director of engineering at FTX, is expected to plead guilty to fraud charges brought by U.S. prosecutors who are investigating the now bankrupt FTX cryptocurrency exchange, Reuters reported on Feb 28. During the hearing in a Manhattan federal court, Singh’s lawyer announced that his client had agreed to plead guilty to one count of wire fraud, one count of conspiracy to commit wire fraud on FTX customers, and one count of conspiracy to commit commodities fraud.  Nishad Singh, the former director of engineering at now-bankrupt crypto exchange…

SEC, CFTC Charge FTX’s Singh With Fraud Following Criminal Plea

In a statement, SEC Director of Enforcement Gurbir Grewal said, “we allege that this was fraud, pure and simple: while on the one hand FTX touted its supposed effective risk mitigation measures to investors, on the other Mr. Singh and his co-defendants were stealing customer funds using software code Mr. Singh helped create.” Source CFTCChargecriminalFraudFTXsPleaSECSingh CryptoX Portal

OKX seizes 2M USDT linked to market manipulation

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According to a press release published by cryptocurrency exchange OKX on Feb. 28, the firm said that it seized 2,014,381 Tether (USDT) from five accounts suspected of partaking in “malicious market manipulation,” of the Celestial (CELT) token. As told by OKX, on Feb. 26, Celestial developers announced the creation of a new blockchain game. Shortly afterwards, the Celestial developers allegedly launched a social media campaign promoting the new game using OKX’s branding, which the firm says was unauthorized. As a partial result of the activities, the CELT token nearly doubled…

‘Liquidity’ has most affected Bitcoin’s price in the last year, according to trader Brian Krogsgard

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Cointelegraph’s Crypto Trading Secrets podcast has published Episode 6, covering an array of content that should pique the interest of cryptocurrency traders. This episode’s guest is Brian Krogsgard, also known as Ledgerstatus on Twitter. Krogsgard is a trader and one of the co-founders of Flip.xyz, a nonfungible token (NFT) platform. He is also a podcaster in the crypto space.  Among the questions fielded during the Feb. 16 recording, host Benjamin Pirus asked Krogsgard to give his opinion on what he thinks has most impacted the price of Bitcoin (BTC) over…