Day: March 30, 2023

Terra co-founder Do Kwon’s jail time in Montenegro will be harsh: Report

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Do Kwon, currently in custody in Montenegro and potentially awaiting extradition to the United States or South Korea, will reportedly face harsh conditions in the country’s penal system. According to a March 29 Protos report, an unnamed criminal defense lawyer said conditions at Montenegro’s jails and prisons “haven’t changed” from those described in a 2020 human rights report from the U.S. State Department. The report cited a case in which prison officers had been convicted of torturing and “inflicting grievous bodily harm” on 11 inmates in 2015, as well as…

TUSD Jumps 110% While Others Experience Reductions – Altcoins Bitcoin News

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Four stablecoins have reduced their supplies this month, while the stablecoin token TrueUSD (TUSD) has seen its supply jump 110% higher over the last 30 days. TUSD resides natively on four different blockchains. The number of Ethereum-based TUSD rose 27%, while the number of Tron-based TUSD stablecoins increased by 218%. TUSD Supply Swells, Tron-Issued Stablecoins Rise 218% In the past month, several stablecoins experienced supply reductions, including usd coin (USDC), binance coin (BUSD), gemini dollar (GUSD), and USDD. Gemini’s GUSD led the pack with a 30.5% redemption rate over the…

Elon Musk slams ‘heavy-handed’ Fed as ex-BitMEX CEO sees $1M BTC price

The United States Federal Reserve has been “too heavy-handed” in taming inflation, said pro-Bitcoin (BTC) Tesla and Twitter CEO Elon Musk. In a Twitter debate on March 29, Musk directly criticized U.S. macroeconomic policy, including “excess government spending.” Musk: Fed policy is a “serious issue” Bitcoin and crypto markets remain extremely sensitive to Fed cues on interest rate policy. Despite inflation gradually coming down, the Fed has continued to hike rates even as banks feel the pressure and several collapses. For Musk, this is already a case of going too…

Crypto wallet Ledger raises $109M as demand for self-custody soars

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Hardware wallet provider Ledger has raised 100 million euros ($109 million) in a Series C funding round extension, placing its valuation at 1.3 billion euros ($1.4 billion), in line with its previous funding in June 2021, Bloomberg reported on March 30. The funding is the first of three investment rounds.  As per the report, a second closing is due in April, followed by a third funding to take place at a later date, given “high investor interest.” The capital will be used to expand the company’s distribution network, increase production,…

Kraken aims for restricted dealer registration in Canada to comply with new rules

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Crypto exchange Kraken has filed a preregistration undertaking with the Ontario Securities Commission in Canada seeking restricted dealer status. United States-based Kraken is already active in Canada and is acting to comply with the new guidance. Kraken is registered in Canada as a money services business and has been operating there for over 10 years. The Canadian Securities Administrators (CSA) implemented new guidance for crypto asset trading platforms on Feb. 22, requiring Kraken to file a preregistration undertaking legally committing it to observe new investor protections. The new requirements for…

Blog: Balancing people’s privacy rights with the need to prevent crime

31 March 2023 Stephen Bonner is the ICO’s Deputy Commissioner for Regulatory Supervision. He leads programmes of work to develop strategic ICO positions on technology issues such as data, supervision of the large technology platforms and online harms. From unlocking our mobile phones to online banking verification, facial recognition technology has become an accepted part of our everyday lives. But how do we feel about live facial recognition technology, enabling CCTV cameras in public places to identify us while we’re out and about? Is it really necessary to have our faces…

Sam Bankman-Fried pleads not guilty to bribery, charges from superseding indictment

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Lawyers for former FTX chief executive officer Sam Bankman-Fried have entered a not guilty plea for five additional charges since his December 2022 arraignment, including allegations of bribery. According to multiple reports, Bankman-Fried pleaded not guilty in United States District Court for the Southern District of New York to four charges added as part of a superseding indictment in February, and one charge added on March 28 related to the former CEO allegedly bribing a Chinese government official. Other charges include conspiracy counts related to fraud as well as those…