Day: September 19, 2023

FTX Files Lawsuit against Founder’s Parents Over Alleged Fund Misappropriation

FTX’s lawsuit seeks redress for the alleged fraudulent financial activities undertaken by Joseph Bankman and Barbara Fried. In an expected turn of events, the bankrupt FTX Trading Ltd has filed a lawsuit against the parents of its founder and former CEO Sam Bankman-Fried. The lawsuit alleges that Joseph Bankman and Barbara Fried were involved in the fraudulent transfer and misappropriation of millions of dollars. FTX’s Allegations and Lawsuit against Bankman and Fried A recent report highlights that FTX’s court filing paints a troubling picture of Joseph Bankman and Barbara Fried,…

Decentralized sensors to combat noise pollution hit the blockchain

The Silencio Network has over 35,000 smartphones working as noise sensors via the Peaq blockchain ecosystem in an effort to combat the issue of global noise pollution. On Sept. 19, the Silencio Network announced its integration with Peaq as it continues to expand its reach to include more noise sensor devices. Silencio reports that the noise sensors working in its network cover 176 countries, and anticipates working on one million devices by next year. The project calls its work “Web3 citizen science” in which community members receive tokenized rewards for…

Bitcoin Bollinger Bands hit key zone as BTC price fights for $27K

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Bitcoin (BTC) could see fresh upside volatility as BTC price strength revisits key levels, a classic metric suggests. In an X post on Sep. 18, John Bollinger, creator of the Bollinger Bands volatility indicator, said that Bitcoin was positioned for a breakout decision. Bitcoin Bollinger Bands eye start of “walk up” After hitting new September highs the day prior, Bitcoin is challenging resistance levels out of reach since mid-August, data from Cointelegraph Markets Pro and TradingView shows. For Bollinger, the signs from the largest cryptocurrency are encouraging. Bollinger Bands use standard…

Hong Kong to tighten crypto regulation in wake of JPEX fraud case

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Hong Kong regulators are looking to tighten the noose around the crypto market after the arrest of six individuals following allegations of fraud around an unlicensed crypto exchange called JPEX. John Lee Ka-chiu, the chief executive of Hong Kong, told reporters on Sept. 19 that the government would increase its efforts to inform investors and remind them to only utilise platforms that have been granted SFC licences, reported AP News. The JPEX issue came to the fore last week when the country’s Securities and Futures Commission (SFC) notified the public…

Citigroup Announces Piloting of Citi Token Services to Enhance Cross-Border Payments

Through the use of blockchain technology, Citigroup anticipates reducing cross-border timelines from days to instantaneous. Citigroup Inc (NYSE: C) announced the creation and piloting of Citi Token Services, a blockchain and smart contract-enabled technology meant to deliver digital asset solutions to institutional clients. Notably, Citi Treasury and Trade Solutions (TTS) closely worked together to enable tokenized deposits and smart contracts into the company’s global financial network. By upgrading the core cash management system, Citigroup officials are confident that institutional clients will be satisfied with the seamless money transfer. Following the…

UK Gov’s New Economic Crime Bill Could Help Cops Freeze Tainted Crypto Faster

“One area this will be used is on occasions where assets have been identified, significant links to criminality can be proven, but the subject of the investigation is unlikely to face justice in the U.K. – think of those committing fraud outside of the U.K. and targeting U.K. residents,” said Ariss, who was crypto lead at the U.K. National Police Chiefs’ Council cybercrime unit and is on sabbatical from the U.K. police force. Source

Toncoin Leads Massive Rally among Top Ten Crypto after Telegram Endorsement

As part of this partnership, Telegram will use the TON as the chosen blockchain for expanding its Web3 infrastructure. Toncoin (TON), the native cryptocurrency of The Open Network, has emerged as the top-performing crypto among the top ten digital assets by market cap. The massive TON price surge comes amid the new partnership between the TON blockchain and Telegram. As of press time, Toncoin (TON) is trading 3.46% up at a price of $2.43 and a market cap of $8.35 billion. Over the last week, the TON price is up…

Bitcoin Rally Sustainable? On-Chain Data Provides Crucial Insights

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Bitcoin has been trending up since hitting a local low below $25,000 on September 11th. Yesterday’s rally to $27,435 marked a 10% increase from the recent low. As NewsBTC reported, the rally was largely led by the futures market and a massive increase in open interest of over $1 billion, more than half of which was flushed out when BTC fell back below $27,000. Despite this, BTC is up around 7.5% from last week’s low. A reason to be bullish? Glassnode Report Sheds Light On Market Sentiment According to Glassnode,…

CoinEx hack – compromised private keys led to $70M theft

Hong Kong-based cryptocurrency exchange CoinEx has revealed that compromised private keys allowed hackers to steal over $70 million of tokens, while the team looks to open lines of communication to claw back funds. CoinEx representatives unpacked the finer details of their continuing investigation to Cointelegraph as the team works to build and deploy a new wallet architecture to restore impacted users and functionality of the platform. Despite an estimated $70 million worth of cryptocurrency being stolen from the platform, the exchange claims this amount represents a small percentage of its…