Tag: Cash

Treasury officials should leave Tornado Cash alone for the sake of national security

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A second powerful moment occurs when the same user is introduced to a block explorer, looks up their address and sees that same transaction there on the blockchain for all to see. There are competing visions of what Bitcoin (BTC), Ether (ETH) and other cryptocurrencies will achieve. They may be the future of gold, payments, currency or bank accounts. But no matter your crypto vision, none can work without achieving the same level of privacy enjoyed by cash or, at a minimum, credit cards. While credit card companies conduct unparalleled…

3 Things We Learned at Tornado Cash Dev Alexey Pertsev’s Trial

Boerlage said records of internal conversations show Pertsev, Semenov and Storm ran Tornado like a business, discussing management and operational decisions, and that they could, in practice, outvote other holders of the protocol’s TORN tokens. In particular, she said, they could have chosen to impose better laundering checks but doing so would have driven away too many clients. Source

Core Scientific in ‘substantial doubt’ of continuing without more cash

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Bitcoin (BTC) miner Core Scientific has warned of  “substantial doubt” they will be able to continue operations over the next 12 months given financial uncertainty. In its quarterly report filed with the United States Securities and Exchange Commission (SEC) on Nov. 22, the firm indicated it had accrued a net loss of $434.8 million over the third quarter of 2022. After net losses of $862 million in the second quarter, its total net losses for 2022 are sitting at $1.71 billion. The company suggested in order to continue its operations…

Collapsed crypto exchange FTX has about $1.24 billion of cash in total — but still owes at least $3.1 billion

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In this photo illustration, a bitcoin logo seen displayed on a smartphone with a FTX logo on the background.  Avishek Das | Lightrocket | Getty Images FTX’s vast web of entities had a total of around $1.24 billion in cash balances as of Nov. 20, according to a new court filing out late Monday. The filing was penned by Alvarez & Marsal North America, which is advising FTX on restructuring efforts after the exchange filed for bankruptcy protection earlier this month. Edgar Mosley, managing director at Alvarez & Marsal North…

Tornado Cash developer Alexey Pertsev to stay detained until next year’s hearing

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Detained Tornado Cash developer Alexsey Pertsev will spend another three months in custody in the Netherlands, according to a court hearing held on Nov. 22. Cointelegraph attended a preliminary court hearing at the Palace of Justice in ’s-Hertogenbosch, which outlined the basis of the case against Pertsev after 103 days in custody. The prosecution outlined a broad overview of its investigation, painting Pertsev as a central figure in Tornado Cash’s operation before Advocate WK Cheng delivered his first defensive argument. Cheng highlighted several points outlining Tornado Cash’s use cases and…

Tornado Cash Developer Alexey Pertsev to Remain in Jail Until at Least Late Februrary

“It’s clear to us that these judges are not as familiar with the subject matter as they should be,” Cheng said. “At the moment, the case law regarding criminal activities is all about bitcoin mixers … it’s very important that the court understands that Tornado Cash is something different.” Original Source AlexeyCashDeveloperFebruraryJailLatePertsevRemainTornado CryptoX Portal

Sam Bankman-Fried’s Crumbling FTX Empire Holds $1.2B Cash Reserves

About $751 million of that is held in debtor entities and the rest, $488 million, is in non-debtor entities, according to the document, filed on Monday by FTX’s proposed financial advisor, Alvarez & Marsal North America. About $514 million is unrestricted cash, $260 million is custodial and $465 million is restricted cash, which is earmarked for specific purposes like loan repayments and can’t be use for general business purposes. Source

Bitcoin Cash (BCH) On Downward Motion Since Breaching $105

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There has been significant sideways fluctuation in the price of bitcoin recently, and it is currently trading in the $16,541 area. However, Bitcoin Cash, a spinoff of BTC, has seen its value drop after passing through the $105 threshold. BCH may need BTC for a rally, as there is a strong market correlation between the two. At the time of writing, the token was trading at $102.21, which is far lower than the $126 price range that swiftly rejected any potential bull run. The current market environment is further adding to…