Tag: Million

China launches national blockchain center to train half a million specialists

On May 10, the National Blockchain Technology Innovation Center, first announced in February, officially started its work in the Chinese capital city of Beijing. The center will collaborate with local universities, think tanks and blockchain businesses to develop blockchain technology in China. The institution will reportedly train more than 500,000 specialists in distributed ledger technology (DLT).  Leading the new center is the Beijing Academy of Blockchain and Edge Computing, which developed the ChainMaker blockchain; a home-grown blockchain serving as a blueprint for the center’s developments. ChainMaker is already supported by…

Seoul Court Greenlights Seizure of Do Kwon’s Assets Worth $176 Million – Bitcoin News

boss

According to a local report, South Korean prosecutors have been given the green light by the Criminal Division of the Seoul Southern District Court to seize assets owned by Do Kwon, the co-founder and former CEO of Terraform Labs. The report discloses that a total of 233.3 billion won ($176 million) worth of assets have been frozen, which includes imported vehicles, bank deposits, and cryptocurrency accounts held at a digital currency exchange. Seoul Court Gives Nod to Seize $176 Million in Assets Owned by Do Kwon After reports surfaced claiming…

UK Authorities Seize $6.7 Million in Cryptocurrency from Dark Web Drug Dealer

boss

In a record-breaking confiscation, a drug dealer caught with $6.7 million in cryptocurrency and $1.4 million worth of cocaine has lost all his gains. The West Yorkshire financial crime department seized over £4.9 million in cryptocurrency, which has now been converted into fiat and handed over to the authorities. The remaining disparity will remain as a debt against the drug dealer. The 42-year-old Simon Barclay operated a marketplace on the dark web from the town of Huddersfield, where he mailed illegal substances across the UK in exchange for cryptocurrency. Kirklee…

Bitcoin Inscription With Ordinals Token Cache Scooped For Nearly $1 Million

boss

Summary: A trader splurged almost $1 million buying Bitcoin Inscription #5232025 amid growing debates about congestion on the BTC network. This particular BTC Inscription holds 50,000 ORDI coins, the native asset of Ordinals Protocol which was created by developer Casey Rodarmor. ORDI was introduced earlier this year using the BRC-20 standard after developer Rodarmor designed a protocol for embedding digital data like art on every satoshi and pseudonymous builder Domo unveiled a token format akin to ERC-20 on Ethereum. A trader spent 35 BTC buying Bitcoin Inscription #5232025 amid growing…

Ripple CEO Says Company Spends $200 Million Fighting SEC Lawsuit Over XRP, Ruling Could Come in 3 Months – Regulation Bitcoin News

boss

Ripple CEO Brad Garlinghouse has revealed that his company is spending $200 million defending itself against the SEC in its lawsuit over xrp. The executive expects a decision on the lawsuit in three to six months. “If we win the lawsuit, it’ll be clear what xrp is, but the rest of the industry is still going to be unclear. And the whole crypto industry needs regulatory clarity in the U.S. to really thrive,” said the Ripple boss. Ripple’s CEO Shares New Info on SEC Lawsuit Over XRP The CEO of…

Syrian Crypto Dealer Freed From Kidnappers Who Demanded Ransom of Over $1.1 Million – Featured Bitcoin News

boss

Spanish law enforcement recently nabbed three individuals who befriended and eventually kidnapped a Syrian cryptocurrency dealer. Following their arrest, the kidnappers, who were demanding a ransom of over $1.1 million, were found in possession of weapons and fake identity documents. Syrian Crypto Dealer’s Captors Were His Party Friends Spanish law enforcement recently freed a Syrian cryptocurrency dealer from three kidnappers that were demanding a ransom of $1.12 million (or €1 million). According to a report by a Spanish-language publication, the captured trio was set to appear in court on May…

Nigerian Payments Provider Nomba Secures $30 Million in Pre-Series B Funding Round – Africa Bitcoin News

boss

The Nigerian payments startup, Nomba, is reported to have raised $30 million via a pre-Series B that was led by Base10 Partners. The new solution is expected to help the startup operate more efficiently and deliver “excellent customer experiences.” Plugging Gaps in Payment Processes Nomba, a Nigerian payments startup, has raised a US$30 million pre-Series B funding round. According to a Disrupt Africa report, the startup’s oversubscribed equity round was led by San Francisco-based Base10 Partners. Helios Digital Ventures, Shopify, Partech, and Khosla Ventures also participated in the round. As…

Bitcoin’s BRC20 Token Economy Skyrockets 192% to $279 Million in Just Four Days – Blockchain Bitcoin News

boss

Four days ago, the market capitalization of all the BRC20 tokens built on top of the Bitcoin network was a modest $95 million. However, over the past four days, the BRC20 market valuation has seen tremendous growth, increasing by 192% and reaching $279 million. More Than 13,000 BRC20 Tokens Built on Bitcoin Are Now Worth $279M The BRC20 token standard, which is built on top of the Bitcoin network, is gaining momentum and the BRC20 token economy is flourishing. As of Sunday, May 7, 2023, the BRC20 token economy is…

US-Based Bitcoin Focused Startup Fedi Raises $17 Million in Series A Funding Round – Africa Bitcoin News

boss

Fedi, the U.S.-based fintech which is led by the Nigerian bitcoin advocate Obi Nwosu, said on May 3 that it recently raised $17 million in a Series A funding round. The company said it will use the funds to help it launch what it called the “world’s first federated operating system.” Obi Nwosu said the Fedi Alpha version, which is targeted at the builder community, is set to be rolled out later in May. ‘Protecting User Privacy and Autonomy’ The United States-based fintech and bitcoin-focused company Fedi announced on May…

Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector – Mining Bitcoin News

boss

The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden. Miners Face Higher Expenses, More Challenges Under New Legislation Kazakhstan’s coffers have received 3.07 billion tenge (almost $6.9 million) in tax payments from entities involved in the minting of digital currencies in 2022, the State Revenue Committee of the Ministry of Finance announced, quoted by local media…