Day: November 3, 2023

Bitcoin Magazine claims Fed accused it of trademark violation for t-shirts

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The United States Federal Reserve has sent a cease-and-desist letter to crypto media publication Bitcoin Magazine, accusing it of trademark violations, according to a Nov. 3 post from the publication. Bitcoin Magazine claims it is being targeted because of its use of the word “FedNow” on “t-shirts, hats, and other wearables.” FedNow is the trademarked name of the Federal Reserve’s instant payment system. The U.S. Federal Reserve is threatening to sue Bitcoin Magazine, alleging apparel that parodies its FedNow system is not protected speech, but copyright infringement.@markgoodw_in with Bitcoin Magazine’s…

FTX legal consultants turned over customer trading records to FBI

Multiple FBI offices have received data on FTX customer accounts from Alvarez & Marsal, a law firm advising the now-defunct crypto exchange under bankruptcy administrators led by litigation veteran John Ray III. Alvarez & Marsal reportedly transferred the data to some five Federal Bureau of Investigation (FBI) field offices in compliance with a subpoena from the U.S. investigators. The documents sent to the FBI were extracted from FTX’s cloud base on Amazon’s AWS, per Bloomberg. Per the billing record submitted to a bankruptcy court, the records turned over to FBI…

Bitcoin (BTC) Price Stalls at $35K; Notable Large Investor Moved 7K BTC to Crypto Exchange Bitfinex

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Whales are crypto investors who control large amounts of digital assets. Their crypto purchases and sales may have a sizable impact on markets, thus crypto watchers closely follow their behavior to anticipate market movements. Moving tokens to exchanges usually signals intention to sell, however, blockchain data doesn’t show what happens with the tokens once it’s at the exchange. Original

This Chainlink Metric Just Hit Meteoric Levels

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Chainlink (LINK) appears to be riding the current market momentum as the cryptocurrency industry experiences a widespread surge. The recent fluctuations have brought LINK along with other digital currencies into the spotlight, prompting investors to closely monitor its trajectory.  Amidst this upward trend, Chainlink has strategically positioned itself as a dominant force in the world of decentralized protocols, sparking optimism for a potentially bullish rally.  The current price of LINK, as reported by CoinGecko, stands at $11.05, with a slight 24-hour dip of 1.9% but a promising seven-day gain of…

Bitcoin Magazine defies Fed’s trademark claim, pleads First Amendment 

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Bitcoin Magazine counters the Federal Reserve’s lawsuit over FedNow parody merchandise, invoking First Amendment rights. On Oct. 27th, the U.S. Federal Reserve sent a notice to the popular crypto news site, Bitcoin Magazine, threatening to sue the publication over misusing FedNow’s image and trademark for their own merchandise. Today, Bitcoin Magazine has issued an open letter, exercising its First Amendment right to challenge the Fed’s claim.  BREAKING: 🇺🇸 Federal Reserve threatens to sue #Bitcoin Magazine in attempt to silence criticism of its FedNow service. — Bitcoin Magazine (@BitcoinMagazine) November 3,…

Could regulation have prevented Sam Bankman-Fried’s criminal verdict?

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Sam Bankman-Fried was found guilty of all seven counts of fraud and conspiracy to commit fraud in the late hours of Nov. 2. The jury delivered its verdict in less than 10 minutes after nearly 4 hours of deliberation, leaving his parents to fall silent in the crowded courtroom at the Southern District Court of New York.  Over the course of his lengthy trial, my thoughts kept returning to: How did you come to be here? Could all of this harm have been prevented? What can we do to avoid…

Celestia’s TIA Airdrop Hype Wanes as Blockchain Struggles to Gain Users

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Ripple Achieves Regulatory Approval To Offer XRP Services

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Ripple grabs yet another achievement with its recent legal and regulatory approval which will basically grant crypto-related firms within the Dubai International Financial Center (DIFC) the right to offer XRP services. Latest Approval Sparks Broader XRP Adoption According to a recent announcement, XRP was recently approved under the digital asset regime of the Dubai independent financial services regulatory body within the DIFC, Dubai Financial Services Authority (DFSA). This achievement appears to be more significant than it seems. This is due to the position held by the DIFC as the top…

What awaits crypto after the Bankman-Fried’s case

Sam Bankman-Fried’s conviction may signal a turning point, ushering in stringent regulations and a new era of transparency in the crypto world. On Nov. 2, a jury found FTX founder Sam Bankman-Fried guilty of all criminal charges. Judge Lewis Kaplan of the Southern District of New York will hand down the final verdict on March 28, 2024. The trial in the case of the collapsed crypto exchange FTX has already definitely gone down in history, joining the ranks of other major crimes in the crypto industry. Against the backdrop of…