Month: August 2023

Crypto Nightmare: SIM Swap Attack Robs Blockchain Capital Founder Of $6.3 Million

Bart Stephens, the co-founder of Blockchain Capital, a prominent venture fund specializing in cryptocurrency investments, has reportedly fallen victim to an alleged SIM swap hack that cost him a staggering loss of $6.3 million worth of digital assets.  This incident sheds light on the growing menace of SIM swap attacks, which the Federal Bureau of Investigation warned about in 2022. These attacks target individuals with substantial cryptocurrency holdings and have surged in frequency, with the FBI estimating a loss of $72 million to this tactic last year, marking a rise…

FTX’s Sam Bankman-Fried pleads not guilty to fraud charges: Report

boss

Sam “SBF” Bankman-Fried, the former CEO and co-founder of crypto exchange FTX, has pleaded not guilty to fraud and money laundering charges levied in an updated indictment by prosecutors, according to a report.  The latest court proceedings against SBF were heard by Magistrate Judge Sarah Netburn. The former FTX CEO was charged with seven counts of fraud and money laundering along with an additional charge of campaign finance. Bankman-Fried pleaded not guilty on all counts. Judge Netburn: You are charged in seven counts [Count 8, campaign finance charges, is gone]…

Crypto amplified financial risks in emerging markets: BIS papers

boss

Cryptocurrencies like Bitcoin (BTC) have failed to reduce but rather have “amplified financial risks” in less developed economies, according to a new study published by the The Bank for International Settlements (BIS). On Aug. 22, the Consultative Group of Directors of Financial Stability (CGDFS) released a new report on cryptocurrencies, titled “Financial stability risks from crypto assets in emerging market economies.” The study was conducted by BIS member central banks within CGDFS including those in Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru and the United States. The document emphasized that…

Bitcoin is stable amid rising popularity of new AI altcoin

boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Few coins have garnered as much attention and speculation as Bitcoin, often regarded as the go-to cryptocurrency for beginners. Its meteoric rise, followed by dramatic crashes, has become a hallmark of the crypto landscape. However, 2023 has presented a surprising shift in the narrative as Bitcoin finds itself in an unprecedented era of stability. While this newfound calmness has intrigued many and led some to consider it the best coin to buy, another project is gaining…

Why tracking Bitcoin with fiat is crucial

boss

Challenging a recent claim that tracking Bitcoin against fiat currencies is futile, this article uncovers the indispensable link between them. Understanding and interpreting the market dynamics is essential in a rapidly evolving cryptocurrency landscape.  Recently, a claim was made on LinkedIn, challenging the practice of tracking Bitcoin’s (BTC) price concerning fiat currencies like the USD.  LinkedIn post by Keir Finlow-Bates | Source: LinkedIn Keir Finlow-Bates, an advisor at Resonance Security, argues that media news reports are ineffective for measuring Bitcoin’s market highs and lows, suggesting a departure from traditional financial…

FTX’s Sam Bankman-Fried Pleads Not Guilty to Latest Indictment

Tuesday’s arraignment comes amid requests from the defense team to let Bankman-Fried meet with his attorneys and internet-enabled laptops at the U.S. Attorney’s office every weekday. Judge Lewis Kaplan, who is overseeing the case, ruled Monday that Bankman-Fried could meet with his attorneys until 3:00 p.m. EDT today at the office, but has not yet weighed in on the broader request. Source

Crypto P2P scams in India show digital asset education is needed

boss

Peer-to-peer (P2P) cryptocurrency trading has been a staple of the cryptocurrency community since the industry’s early days.  P2P trading refers to the direct exchange of cryptocurrencies between two users without the involvement of intermediaries. P2P exchanges link buyers and sellers while also adding an extra degree of security through an escrow service. Some of the key advantages of P2P over centralized exchanges include global accessibility, a variety of payment alternatives and no transaction fees. Furthermore, P2P marketplaces have become crucial for crypto traders and enthusiasts in jurisdictions where governments are…

Germany proposes screening Chinese investment in AI and related sectors: Report

boss

The vice chancellor of Germany has reportedly proposed tightening the screening process for foreign direct investment from China, according to reports from local media outlets.  Rober Habeck, a member of the Green coalition and federal minister for economic affairs and climate action, said the tightening of restrictions on Chinese foreign investment would be in “critical sectors,” which include semiconductors and artificial intelligence (AI). It aims to consolidate and simplify a number of existing rules pertaining to sectors in which China is dominant, such as those mentioned above. He also reportedly…

Mantle (MNT) Stakes $66M of Ether (ETH) on Lido as Part of Treasury Management Strategy

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

Bitcoin Dip Worth Buying? What Market Sentiment Suggests

boss

The current sentiment among Bitcoin investors may hold the key to understanding whether the current drop is a buying opportunity or not. “Buy The Dip” Optimism Is Fading In The Bitcoin Market In a new insight post, the on-chain analytics firm Santiment has looked into how the trader sentiment has shifted in the BTC sector since the crash a few days back. Related Reading: Will Bitcoin Retest $20,500 Again? This Pattern May Suggest So First, the analytics firm has checked for the amount of “buy the dip” types of calls…