Day: March 26, 2023

Arrested Bitzlato Exchange Founder Seeks Help From Crypto Community – Exchanges Bitcoin News

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The founder of crypto exchange Bitzlato, who is facing a money laundering case in the U.S., is seeking support from members of the community. Anatoly Legkodymov was arrested in January for his role in the trading platform which allegedly processed millions of dollars’ worth of illicit funds. Bitzlato Founder Looking for Bail Guarantors in U.S. Anatoly Legkodymov, one of the founders and majority owner of the Russia-linked cryptocurrency exchange Bitzlato, has turned to the crypto community, hoping to find U.S. citizens who would agree to become guarantors for his release…

Banking crisis pushed over $286B to money market funds in two weeks: Report

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The banking crisis has led many investors to rotate their portfolio investments in the past two weeks, sending over $286 billion into United States money market funds so far in March, according to EPFR data obtained by the Financial Times. The top winners from investors flooding cash into US money market funds in the past two weeks are Goldman Sachs, JPMorgan Chase, and Fidelity, according to the figures. Goldman Sachs’ money funds have received $52 billion, a 13% growth, while JPMorgan’s funds poured almost $46 billion and Fidelity saw inflows…

Greenpeace Unveils ‘Skull of Satoshi’ to Spark Debate Over Bitcoin’s Environmental Impact; Creator Clarifies It ‘Wasn’t Meant to Be Anti-Bitcoin’ – News Bitcoin News

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Greenpeace, the well known environmental NGO, has unveiled the “Skull of Satoshi,” an art installation intended to spark debate about the impact of Bitcoin on the environment. The 11-foot skull was constructed with electronic waste materials and features smokestacks and Bitcoin logos. However, its creator, Benjamin Von Wong, explained it was not meant to be an anti-Bitcoin symbol. Greenpeace Unveils ‘Skull of Satoshi’ Art Installation Greenpeace, the international environmental NGO, unveiled the “Skull of Satoshi” on March 23, an 11-foot art installation destined to criticize Bitcoin’s effect on the environment.…

Stablecoin supply on cryptocurrency exchanges down 50% in 4 months

Glassnode data on Mar. 26 shows that the stablecoin supply on exchanges has more than halved to less than $24b in four months. Stablecoin supply on exchanges dropping In November, stablecoin supply on exchanges stood at over $44b. Still, this figure, triggered by several fundamental factors, including regulatory actions, has been contracting over the months. As of writing, only about $24b is held in various cryptocurrency exchanges. Some analysts believe that a big chunk might have been converted to other liquid crypto assets or currencies, including bitcoin (BTC) and ethereum (ETH), or…

3 cryptocurrencies targeting spring rally: DigiToads, ethereum, and aptos

As cryptocurrency evolves, new projects and tokens are constantly vying for attention and investment. DigiToads (TOADS) is popular among investors and enthusiasts. This article will look at DigiToads and compare its potential price predictions to other popular tokens, including ethereum (ETH) and aptos (APT). DigiToads (TOADS) DigiToads aims to become a top meme token, like Dogecoin, Shiba Inu, and Dogelon Mars. It also establishes itself as a play-to-earn (P2E) token, such as The Sandbox, Axie Infinity, Decentraland, and GALA. DigiToads is also a platform that seeks to enhance our lives…

XRP, LTC, XMR and AVAX show bullish signs as Bitcoin battles to hold $28K

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The recent banking crisis in the United States seems to have shaken the belief of some customers in the legacy banking system. According to Federal Reserve data, customers pulled nearly $100 billion in deposits in the week ending March 15. American venture capital investor and entrepreneur Tim Draper said in a March 25 report that “founders need to consider a more diversified cash management approach” due to the over-regulation of banks and micromanagement by the government. As part of a contingency plan, Draper suggested businesses keep “ at least 6…

Terra Co-Founder Do Kwon Plans to Appeal Detention Extension After Arrest in Montenegro – Bitcoin News

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According to the Montenegro-based newspaper Vijesti, Do Kwon, the co-founder of Terraform Labs, also known as Kwon Do-hyung, is appealing the detention extension ordered by a Montenegrin court. Kwon was arrested on March 23, 2023, after being caught at Podgorica Airport in Montenegro while traveling with fraudulent identification documents. Report Says Kwon’s Legal Representation Aims to Appeal 30-Day Detention Extension Three days ago, Montenegro’s Interior Minister Filip Adzic announced on Twitter that Do Kwon, the co-founder and CEO of Terraform Labs, was arrested on Thursday for presenting forged identity documents.…

“Crypto king” kidnapped and tortured after scamming investors off $29m

Aiden Pleterski, a 23-year old “crypto prodigy, was abducted and tortured after reportedly scamming investors off $29m. Pleterski, a crypto king, abducted and tortured On Mar. 26, it was reported that after Pleterski scammed investors, he proceeded to splash $12m on, among other things, fast cars, a luxury vacation, and financing a lavish lifestyle. Pleterski is going through a bankruptcy proceeding in Canada as authorities try to recover the $29m he skimmed off unknowing investors. So far, only $1.9m has been recovered.  Government details revealed that Pleterski was abducted in December, and…

G7 to collaborate on tighter crypto regulation: Report

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The next G7 meeting might bring a push from the seven biggest democracies for tougher regulations on cryptocurrencies around the world, Kyoto news agency reports on March 25. Together, leaders from Japan, the United States, the United Kingdom, Canada, France, Germany, and the European Union will outline a cooperative strategy to increase crypto transparency and enhance consumer protections, as well as address potential risks to the global financial system, officials told Kyoto. This year’s summit is set to happen in Hiroshima, in May. Among G7 members, Japan already regulates cryptocurrencies,…

Nvidia executive says crypto is useless, backs ChatGPT and AI

Michael Kagan, the chief technology officer of Nvidia, the chipset manufacturer, thinks cryptocurrencies are “useless” to society. On Mar. 26, Kagan, whose firm sold billions worth of gear to cryptocurrency miners where Nvidia graphic cards played a key role, said artificial intelligence (AI) solutions like ChatGPT were, instead, more useful. ChatGPT is popular with analysts saying the world is in the first phase of AI disruption. Around 10,000 Nvidia chipsets trained the first version of the AI tool.  Meanwhile, Nvidia chipsets were widely utilized by proof-of-work miners who rely on gear for a chance…