Fraudsters Offer Russians Bogus Chance to Invest in Fake ‘State Cryptocurrency’ – Bitcoin News

Internet users in Russia have been targeted in an email campaign advertising the launch of an alleged cryptocurrency issued by the state. Potential victims are encouraged to follow a link to the website of the fraudulent investment scheme, security experts said. Thousands of Investment Offers Entice Russians to Put Money Into Non-Existent Cryptocurrency Fraudsters have been sending emails to Russian residents claiming to be writing on behalf of a regulatory body about the upcoming launch of “the Russian state cryptocurrency,” the Tass news agency reported, quoting Kaspersky Lab. “With such…

FTX Proposes $4M Bonus Program as It Seeks to Retain Staff

Bonuses between 17% and 94% will be in the best interest of the FTX group as it seeks to wind up affairs, the Tuesday document said. The overall package is capped at $4,027,204 and targets staff with key skills and knowledge, including programming languages such as Python, Rust and Flutter. No bonuses will be paid to directors or officers of the company, to founder Sam Bankman-Fried and his family, or to any staff believed to be engaged in wrongdoing, the document said. Source

Lionel Messi Supports Web3 Soccer Game Startup Matchday

Matchday has secured an official license from FIFA as well as the FIFPRO players association. It’s working on a suite of Web3 games accessible to most users. The rapid developments within the Web3 ecosystem have also captivated sports stars. Argentinian football star Lionel Messi has recently backed a Web3 soccer-centric gaming startup Matchday, during the latest $21 million seed funding round. The investment in Matchday comes through Lionel Messi’s venture capital firm Play Time. Other investors and players who participated in the funding round include Greylock, Courtside Ventures, Capricorn Investment…

American Banking Giant JPMorgan is Cutting Ties With Gemini

American multinational financial services and banking giant, JPMorgan Chase is reportedly on track to cut its business ties with Gemini Exchange. According to a CoinDesk report citing anonymous sources close to the matter, the relationship between the duo which was birthed back in the first quarter of 2020 is set to end without any unveiled reason. Gemini Exchange was floated by the popular crypto twins, Cameron and Tyler Winklevoss and it has grown to become a formidable trading outfit in the emerging crypto trading ecosystem. The exchange is one of those regulated…

US Senators Say New Crypto Bill Will Be Available in April 

US senators Kirsten Gillibrand and Cynthia Lummis will release a new draft of the bipartisan crypto bill in April. Gillibrand revealed the plan for the new draft while speaking at the Senate Agriculture Committee hearing on March 8. The event was held to discuss the Commodity Futures Trading Commission (CFTC) oversight. While speaking, the American politician mentioned the previous crypto bill she initially drafted with Senator Lummis. She asked CFTC chairman Rostin Behnam for his opinion on the bill. In July 2022, the senatorial duo unveiled a comprehensive legislative proposal aimed…

German regulator BaFin suggests a ‘case-by-case’ approach for NFTs

Federal Financial Supervisory Authority of Germany (BaFin) is not ready to classify nonfungible tokens (NFTs) as securities yet. The Agency suggests classifying the NFTs on a case-by-case basis.  On March 8, the BaFin journal published an explanatory note considering NFTs and their legal classification. At this point, the regulators don’t see how NFTs correspond to the criteria of tradeability and standardization, which define securities. However, in the future, BaFin may consider NFTs as securities. For example, if 1,000 NFTs embody the same repayment and interest claims. According to another reservation,…

CFTC Chairman Extends Jurisdictional Power on Stablecoins

Behnam said that most fiat-backed stablecoins don’t operate with the intention of profit and thus shall be treated as securities. The US crypto regulatory landscape has been brewing with uncertainty all the while. On Wednesday, March 8, CFTC Chairman Rostin Behnam told the Senate Agriculture Committee that most stablecoins are commodities. Interestingly, he also puts Ethereum (ETH) in this category and adds that they fall under CFTC’s regulatory overreach. Talking about Ethereum, the CFTC chair said that “It’s been listed on CFTC exchanges for quite some time, and for that…