Day: March 8, 2023

FTX counsel and advisors rake in $34M in January

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The law firms, investment banks and consulting companies working with FTX on its bankruptcy case billed the crypto exchange a combined $34.18 million in January, court documents reveal. FTX’s chief restructuring officer and new CEO, John J. Ray III, also received a hefty pay package, charging $1,300 an hour to a total of $305,000 in February according to a Mar. 6 filing. Fee breakdown of FTX CEO John J. Ray III over the month of February. Source: Kroll Separate court filings on Mar. 6 show United States law firms Sullivan…

Russian Crypto Industry Association Asks Putin to Help With Regulations – Regulation Bitcoin News

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The organization representing Russia’s crypto and blockchain sector has urged Vladimir Putin to spur regulatory efforts. The association fears the Russian Federation may lag behind other nations if it maintains its conservative approach towards new financial technologies. Russian Crypto Businesses Want Putin to Engage With Regulatory Process The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib) has called on President of Russia Vladimir Putin to back the crypto community in shaping the country’s regulatory framework for cryptocurrencies and related technologies. In a letter to the Russian head of state,…

Jack Dorsey’s Block asks for input on proposed ‘mining development kit’

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Payments company Block, formerly known as Square, is delving deeper into the crypto mining industry with potential plans to build a “mining development kit.” A Mar. 7 blog post revealed that the Jack Dorsey-founded multinational technology firm was mulling its latest vision for advancing its Bitcoin (BTC) mining ambitions. Senior product lead for mining hardware, Naoise Irwin, asked for feedback on the concept via email. The mining development kit (MDK), if it goes ahead, will provide a “suite of tools” to developers with the aim of increasing the “accessibility and…

Coinbase-OFAC Bug Affected Fewer Than 100 People, and Has Been Fixed

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North Macedonia Says Bomb Threats Come From Russia, Crypto Used to Hide Origin – Bitcoin News

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The government of North Macedonia believes that an ongoing wave of false bomb threats against public targets in the country is coming from Russia and Iran. The authorities in Skopje also say that payments related to the attacks have been made with cryptocurrency to conceal traces. Over 700 Facilities Targeted With Bomb Threats in North Macedonia, Attackers Used Crypto The Balkan nation of North Macedonia has been receiving bomb threats, allegedly from Russia and Iran, according to a statement by a top government official. On Monday, Interior Minister Oliver Spasovski…

Vitalik dumps $700K worth of shitcoins that he never asked for

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Ethereum co-founder Vitalik Buterin has gone on a shitcoin selling spree, exchanging nearly $700,000 worth of tokens previously airdropped to him for Ether (ETH). According to Etherscan, on Mar. 7 a wallet belonging to Buterin offloaded 500 trillion SHIKOKU (SHIK) for 380.3 ETH ($595,448), nearly 10 billion Cult DAO (CULT) for 58.1 ETH ($91,021), and 50 billion Mops (MOPS) for 1.25 ETH ($1,950). A screenshot of token transactions from Vitalik’s wallet. Source: Etherscan Due to the low liquidity of the tokens the sales had a huge effect on their prices.…

Silvergate reportedly talks with FDIC on ways to avoid shutdown

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Regulators are reportedly in urgent talks with Silvergate to find ways to save the crypto-friendly bank from a possible shutdown.  Citing “people familiar with the matter,” Bloomberg reported on March 7 that Federal Deposit Insurance Corporation officials have been discussing with management ways to salvage the company. The FDIC is an independent government agency in the U.S. tasked with supervising financial institutions for safety, soundness and consumer protection, its website states. US regulators have been sent to the headquarters of Silvergate Capital, as the troubled crypto-friendly bank looks for a way…