Tag: News

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

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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…

A ‘Tremendous Variety of Possible Transaction Types’ — A Look at the Conversation Between Nakamoto and Andresen – Featured Bitcoin News

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The Bitcoin mempool, otherwise known as the network’s transaction backlog, is still clogged with over 390,000 transactions waiting to be processed by miners. To clear the mempool, more than 190 blocks need to be mined. As the scaling issues continue to plague the network, a conversation between former Bitcoin developer Gavin Andresen and the network’s creator Satoshi Nakamoto has been making rounds. Andresen expressed his concern about the software’s scripting language, which made him “nervous.” He also pointed out that there could be ways to “abuse” the scripts-in-a-transaction scheme. Nakamoto…

BRICS Leaders Set to Discuss Common Currency to Challenge US Dollar Dominance in Upcoming Summit – Economics Bitcoin News

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The BRICS nations are set to discuss the feasibility of a common currency at the upcoming leaders’ summit. “It’s a matter we must discuss and discuss properly,” a South African minister stressed, noting that a growing number of countries are saying: “Why can’t we trade in our own currencies? Why are we committed to trading through the dollar?” BRICS Currency to Be Discussed at Upcoming Leaders’ Summit The BRICS countries are planning to discuss the feasibility of introducing a common currency at their upcoming leaders’ summit, which will be hosted…

Investment Analyst Warns Successful BRICS Currency Could Hurt US Living Standards – Bitcoin News

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Investment analyst Jon Wolfenbarger has warned that a successful BRICS currency could hurt U.S. living standards and “lead to less power for the U.S. government, similar to the weakening of the UK after World War II.” He stressed: “Due to the Russia-Ukraine war and China’s continued economic growth, the BRICS are accelerating plans to take power from the U.S.” Impact of BRICS Currency on US Dollar and American Living Standards Investment analyst Jon Wolfenbarger, CFA, published a blog post titled “Will a New BRICS Currency Change Anything? Maybe” on Mises…

Economist Peter Schiff Says ‘Nobody’s Money Is Safe in Any Bank’ — Warns of Financial Crises, Depressions – Economics Bitcoin News

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Economist Peter Schiff expects a lot more banks to fail, warning that “nobody’s money is safe in any bank.” He stressed: “When the Fed sets interest rates too low and prints a lot of money … it unleashes massive inflation, creates tremendous economic imbalances that result in financial crises and depressions when the bubbles burst.” Peter Schiff on Inflation Tsunami, Financial Crises, Depressions, and Bank Failures Economist and gold bug Peter Schiff discussed the U.S. banking crisis and where the U.S. economy is headed in an interview last week on…

Crypto Conferences Scale Back | Blockchain News

The crypto winter has been long and harsh, and as a result, crypto conferences are toning down the lavishness. Attendees are no longer interested in DJs and parties; they want to focus on discussing regulation and tax issues. Tiffany Fong, a popular crypto vlogger, attended her first crypto conference this year and observed that attendees were more interested in asking intelligent questions and discussing regulatory issues, rather than enjoying the extravagances of past events. While the XRP Las Vegas conference for XRP enthusiasts and the “XRP Army” took place in…

Iran Shuts Down Over 8,000 Illegal Crypto Mining Farms in 3 Years – Mining Bitcoin News

Authorities in Iran have closed down more than 8,000 underground facilities for cryptocurrency mining in the past three years, local media reported. Despite the government’s crackdown, illegal crypto mining continues to account for a serious amount of energy consumption, official figures suggest. Illegal Crypto Miners in Iran Steal 1.8 Billion kWh of Electricity, Official Says Enterprises minting digital currencies outside the law in Iran have stolen 1.8 billion kilowatt hours (KWh) of electricity, according to a spokesperson for the electric power industry, quoted by the English-language Iranian daily Financial Tribune…

Bitget Introduces the BRC20 Zone and Lists Ordinals (ORDI) – Press release Bitcoin News

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press release PRESS RELEASE. May 10 2023 Victoria, Seychelles – Bitget, the top derivatives and copy trading platform, has announced the listing of the ORDI token in the newly launched BRC-20 zone and has also revealed plans to bring other promising BRC-20 tokens to its platform. In addition to ORDI, Bitget has also announced a new round of Launchpad featuring another BRC-20 token, Bitcoin Improvement Proposals 1 (BIP1), to further support the continuous improvement of the Bitcoin ecosystem. BRC-20 is a new fungible token standard designed for the Bitcoin blockchain…

$1 Billion in Crypto Assets, Holdings Are Predominantly BTC and ETH – Bitcoin News

Payments behemoth Paypal has disclosed in a Form 10-Q financial report filed with the U.S. Securities and Exchange Commission (SEC) that it is holding nearly $1 billion in cryptocurrency assets. This news comes on the heels of Paypal’s announcement that Venmo now facilitates external transfers of cryptocurrencies to wallets and exchange platforms. Paypal’s Crypto Holdings Increase in Value Since Dec. 31, 2022 Paypal’s latest quarterly earnings report, filed with the SEC, reveals that the payments giant is sitting on a substantial stash of bitcoin (BTC) and ethereum (ETH). As of…

Court Documents Allegedly Thrown at NBA Star’s Car – Bitcoin News

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In a recent court submission, legal representatives for basketball icon Shaquille O’Neal, commonly referred to as Shaq, claim he was not duly served in the FTX class-action lawsuit. As per the document, servers allegedly hurled the court documents at Shaq’s car, ultimately landing on the public street near his Georgia residence. Shaq’s Legal Team Fights Back Against FTX Lawsuit In Monday’s legal filing, Shaq’s lawyers contested the proper service claims, following the Moskowitz Law Firm’s disclosure that they had served O’Neal and that the service was captured on his home…