Day: September 7, 2023

Cardano Announces Warp Transactions, ADA Remains Stuck In Ranging Market

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Strica, a company working on solutions and use cases for the Cardano blockchain, unveiled a new feature for the smart contract platform via their wallet, Warp Transactions.  According to an official press release, described as a “game changer for token transfers,” Warp Transactions were created to ease the burden of transaction fees paid when sending assets on this network.  Cardano New Feature Eliminates Sender Fees, But There Is A Clause Usually, on Cardano, every token transfer demands the sender to pay a minimum fee of 1.14 ADA to secure against…

Former FTX exec will give up real estate, car and $11M following guilty plea: Report

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Ryan Salame, the former co-CEO of FTX Digital Markets, has pleaded guilty to charges related to defrauding the United States Federal Election Commission (FEC) and conspiracy to operate an unlicensed money-transmitting business. According to a Sept. 7 announcement from the U.S. Justice Department, Salame pleaded guilty before a judge in the U.S. District Court for the Southern District of New York, making him the fourth major player connected to defunct crypto exchange FTX facing criminal charges to do so. The former co-CEO could face years in prison for the campaign…

Ex-FTX Executive Ryan Salame Pleads Guilty to U.S. Criminal Charges

The guilty plea comes less than a month before the trial of Sam Bankman-Fried, the FTX founder, is set to begin. Bankman-Fried, who has pleaded not guilty to all of the charges against him, stands accused of orchestrating a multibillion-dollar fraud that ultimately culminated in FTX’s bankruptcy and the loss of funds for its customers. Source ChargescriminalExecutiveExFTXGuiltyPleadsRyanSalameU.S CryptoX Portal

House committee will reopen discussions on digital dollar in Sept. 14 hearing

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The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion will be holding a hearing discussing central bank digital currencies (CBDCs) for the first time in months. In a Sept. 7 announcement, Republican lawmakers on the committee said they planned to hold a hearing discussing the implications of releasing a CBDC as well as “private sector alternatives.” The “Digital Dollar Dilemma” discussion will be held on Sept. 14, roughly two weeks before U.S. Securities and Exchange Commission Chair Gary Gensler will reportedly testify before the full…

Stake hack of $41M was performed by North Korean group: FBI

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The $41 million hack of crypto gambling site Stake was carried out by the North Korean Lazarus Group, the Federal Bureau of Investigation (FBI) stated in an announcement on Sept. 7. This group has stolen more than $200 million of crypto in 2023, the announcement stated. [JUST IN] FBI Identifies Lazarus Group Cyber Actors as Responsible for Theft of $41 Million from Stakehttps://t.co/Kq1tpjNuC5 — snailnews (@snailnews_) September 7, 2023 Stake is a crypto gambling platform that offers casino games and sports betting. It was the victim of a cyberattack on…

Reject CBDCs, Embrace the Right to Transact

Nothing otherwise illegal is somehow rendered lawful by the right for people to transact freely: bad behavior is still policed, but not through arbitrary, centralized control over the means of exchange itself. And of course, we need to pursue the one practical route available to us to counteract the slide into financial panopticon: adopt and use cryptocurrency. Source

CFPB examines Big Tech’s role in mobile payment systems ahead of rulemaking

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Big businesses are able to act as “mini-governments” and impose their own rules on payment infrastructure, Rohit Chopra, director of the United States Consumer Financial Protection Bureau (CFPB), said at a fintech conference hosted by the Philadelphia Federal Reserve Bank on Sept. 7. As Big Tech continues to innovate, small firms may be squeezed out of the space, he added. The rapid development of consumer payment systems, particularly point-of-sale (POS) systems, has received little regulatory attention, in contrast to crypto assets, Chopra said: “Big Tech companies have crept into the…

Polygon Foundation Refutes Claims Of Dumping MATIC On Binance

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Blockchain analytics site Lookonchain flagged recent transactions of two on-chain addresses allegedly owned by the Polygon Foundation. The platform reported that one of these wallet addresses had transferred large amounts of MATIC – the Polygon network’s native token – to Binance in the past two days. According to Lookonchain, the two addresses, tagged as  “Polygon Foundation: 0x8d36” and “Polygon Foundation: 0xf957,” have collectively transferred nearly $6 million worth of MATIC to Binance over the past month, with more than half of the amount deposited onto the exchange in the last…