Month: May 2023

Australian ‘Big 4’ bank begins trial for cryptocurrency payment blocks

boss

Westpac, one of Australia’s ’Big Four’ banks, is launching its first trial of scam protection measures designed to combat fraudulent activities related to cryptocurrencies. The protection measures aim to mitigate losses from scams and reduce potential risks. According to the announcement, investment scams account for approximately 50% of all customer losses linked to scams, while around one-third of all scams involve direct transfers to cryptocurrency exchanges, making them extremely difficult to trace. The Westpac ban comes on the same day Binance customers were told they could no longer use PayID to…

Bitcoin Shows Dull Movement, Altcoins Take Charge, Litecoin, XRP Gain Momentum

boss

Amid the subdued activity in Bitcoin and Ether and no catalyst in sight, investors are finding opportunities in altcoins and other small cap crypto assets. After facing selling pressure earlier this week, the world’s largest cryptocurrency Bitcoin (BTC) has been now hovering around $27,200 levels. Investors are keen to know what could be the next directional move for BTC. However, the BTC price remains range bound between the support of $26,600 and the resistance of $27,600 on the upside. While the trading activity in Bitcoin remains subdued, altcoins make a…

Montenegro prosecutors appeal against Do Kwon’s bail terms

boss

Terra co-founder Do Kwon’s bail is now in question after the State Prosecutor’s Office filed an appeal against it. Kwon is still wanted for extradition by South Korea and has criminal charges to answer in the United States.  On May 17, the State Prosecutor’s Office in Montenegro’s capital Podgorica appealed against the previous decision of the court to grant Kwon and Han Chang-Joon a release from detention on bail of 400,000 euros ($436,000) each. The bail deal was agreed on May 12, with the court agreeing to let Do Kwon be put…

Crypto Observers Decode Large Block Trade in Ether Options

CryptoX is a multi-platform publisher of news and information. CryptoXtrade has earned a reputation as the leading provider of cryptocurrency news and cryptomarket analysis, bitcoin and other cryptocurrencies, blockchain technology, finance and investments. CryptoXtrade have become a known leader in the cryptocurrency information market. We work only with trusted information sources providing latest financial and technological innovations that improves the quality of life of CryptoX readers by focusing on Cryptocurrency and Blockchain. CryptoX Portal

U.S. Court Asked to Reverse Decision on Appointment Independent Examiner in FTX Bankruptcy

Although parties to the FTX case have complained about the “alleged” costs associated with appointing an examiner, for “both legal and practical purposes, any costs associated with appointing an examiner do not justify departure from the statutory requirement to appoint an examiner where, as here, the statutory criteria are met,” DOJ Trustee Andrew R. Vara said in the filing. Source

FTX leadership sues Sam Bankman-Fried over $220M deal made prior to bankruptcy

boss

FTX lawyers are suing former CEO Sam Bankman-Fried, co-founder Zixiao Wang, and former senior executive Nishad Singh over the $220 million acquisition of stock-clearing platform Embed, alleging lack of due diligence.  According to a May 17 filing, FTX had paid $220 million to acquire Embed through its United States subsidiary after having allegedly “performed almost no due diligence” on the platform. After FTX filed for bankruptcy, the judge in charge of the proceedings approved the sales of Embed and other assets of FTX, but the top bidder for the platform offered just…

Uniswap V3 to Deploy on Polkadot via Moonbeam Parachain

The Uniswap ecosystem is expected to significantly benefit from Polkadot’s vast multi-chain capabilities and vice versa. Uniswap, a leading decentralized exchange on several chains with a total value locked (TVL) of about $4.08 billion, is preparing to launch in the Polkadot (DOT) network via its Moonbeam parachain. According to the announcement by Michigan Blockchain, a proposal to deploy Uniswap V3 on Polkadot via Moonbeam Parachain was passed by a community vote with a 99.99 percent approval rate, amounting to 50.38 million votes against 1 vote. Notably, the Uniswap V3 proposal…

Judge Michael Wiles Approves Voyager Digital’s Liquidation Plan after Several Failed Acquisition Attempts

The company noted that its customers will have the possibility to use the Voyager app to begin requesting paybacks, which will take place in 30 days.  Bankrupt crypto lender Voyager Digital announced on Wednesday that its customers will recover about 35 percent of their initial deposit amid its liquidation plan. The failed crypto lender attempted to restructure its business operations through Chapter 11 bankruptcy protection but the customers pushed for a total liquidation. As a result, Voyager Digital attempted to sell its products severally but failed due to technical difficulties.…