Tag: Cash

Crypto’s Political Cash Backs Winners, But New Lawmakers Will Arrive Under FTX Cloud

Still, the events of this month, where one of crypto world’s pillar companies is under investigation as an epic fraud, will play a part. Congressional hearings will likely question what happened with FTX, and the new lawmakers will have to consider appropriate legislation in what could be the most important year yet for the industry on Capitol HIll. Meanwhile, they’ll represent – to some degree – a legacy of Bankman-Fried’s big year as a political patron. Original Source ArriveBacksCashCloudCryptosFTXLawmakerspoliticalWinners CryptoX Portal

Bitcoin Mining Firm TeraWulf Raised $17M of Capital in Q3, But Cash Reserves Remain Low

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In the same quarter, TeraWulf significantly increased its hashrate, or computing power, and energy capacity that could be used for deploying mining machines. About 50 megawatts (MW) of power were brought online at its mining facility in Lake Mariner in upstate New York. The company had 11,000 miners operating at the end of the quarter, and another 9,000 are scheduled to be plugged into the 50 MW in Lake Mariner. As a result of the expansion, WULF mined 117 bitcoin in the third quarter, compared to 29 in the second…

Caribbean nation St. Kitts and Nevis may adopt Bitcoin Cash as legal tender by March 2023

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The Caribbean nation of St. Kitts and Nevis may declare Bitcoin Cash (BCH) legal tender by March 2023. Prime Minister Terrance Drew made that announcement while he spoke at the Bitcoin Cash 2022 conference in St. Kitts on Nov. 12. St. Kitts and Nevis is a member of the Eastern Caribbean Central Bank and part of the ECCB’s DCash central bank digital currency (CBDC) program, which was launched in March 2019. “Our nation has always been a forward-thinking nation and a leader in exploring new technologies that can advance our people,”…

St. Kitts and Nevis to Explore Possibility of Making Bitcoin Cash Legal Tender by March 2023 – Bitcoin News

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St. Kitts and Nevis will explore the possibility of making bitcoin cash legal tender by March 2023. The statement was made by St. Kitts and Nevis Prime Minister Terrance Drew as part of the Bitcoin Cash 2022 Conference held in the country, declaring that Bitcoin Cash mining activities will also be explored in the same way. Bitcoin Cash Could Become Legal Tender in St. Kitts and Nevis Next Year The Government of St. Kitts and Nevis will be exploring the possibility of declaring bitcoin cash legal tender as part of…

FTX CEO Sam Bankman-Fried Tells Investors the Troubled Exchange Needs Cash To Avoid Bankruptcy: Report

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The CEO of the cash-strapped FTX crypto exchange is reportedly warning investors that the company will collapse if it fails to get additional capital. Citing a person familiar with the matter, Bloomberg reports that FTX CEO Sam Bankman-Fried informed investors that his embattled firm may file for bankruptcy if it does not get the money needed to cover an up to $8 billion shortage. FTX reportedly needs to get at least $4 billion to remain solvent and Bankman-Fried is trying to raise funding in the form of debt, equity or…

US Sanctions 3 Individuals, Dozens of Bitcoin, Ether and Bitcoin Cash Addresses on Opioid Allegations

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In a press release Wednesday, Treasury’s Office of Foreign Asset Control announced it was adding Dutch citizens Alex Adrianus Martinus Peijnenburg and Martinus Pterus Henri De Koning and British national Matthew Simon Grimm to its sanctions list, alongside more than 50 bitcoin (BTC), ether (ETH) and bitcoin cash (BCH) addresses. The three individuals are accused of providing drugs in the U.S., including fentanyl, stimulants, cannabinoids and opioids. Original

US Treasury redesignates Tornado Cash sanctions, citing North Korea nuclear weapons program

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The United States Treasury Department’s Office of Foreign Asset Control, or OFAC, has amended the sanctions on cryptocurrency mixer Tornado Cash in addition to including two individuals involved in “transportation and procurement activities” for the Democratic People’s Republic of Korea in its list of Specially Designated Nationals. In a Nov. 8 announcement, the Department of the Treasury said it had “delisted and simultaneously redesignated” Tornado Cash in addition to taking into account activities conducted by North Korean nationals Ri Sok and Yan Zhiyong in its basis for sanctions. The government…

US Treasury Adds to Tornado Cash Sanctions With North Korea WMD Allegations

In a statement, Treasury Undersecretary for Terrorism and Financial Intelligence Brian Nelson said, “today’s sanctions action targets two key nodes of the DPRK’s weapons programs: its increasing reliance on illicit activities, including cybercrime, to generate revenue, and its ability to procure and transport goods in support of weapons of mass destruction and ballistic missile programs.” Source