Tag: News

International Operation Takes Down Crypto Mixer Chipmixer — Creator Could Face 40 Years in Prison – Regulation Bitcoin News

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An international operation has taken down Chipmixer, a cryptocurrency mixing service that allegedly laundered more than $3 billion worth of cryptocurrency, according to the U.S. Department of Justice (DOJ). The operation involved national authorities in the U.S., Germany, Belgium, Poland, and Switzerland — with Europol’s support. International Operation Takes Down Chipmixer The U.S. Department of Justice (DOJ) announced Wednesday “a coordinated international takedown of Chipmixer,” which it described as “a darknet cryptocurrency ‘mixing’ service responsible for laundering more than $3 billion worth of cryptocurrency.” Europol, which provided support for the…

Moscow City Crypto Exchanges Ready to Send Cash to London, Report – Exchanges Bitcoin News

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An investigation into digital asset exchanges in the Russian capital has established that some of them are ready to buy digital coins and deliver paper money in the U.K. The transfer of funds does not usually involve the identification of the clients, Transparency International Russia reveals in a report. Russia-based Cryptocurrency Exchanges Swap Stablecoins for British Cash Russian crypto exchanges that can transfer money abroad without following know-your-customer (KYC) procedures and anti-money laundering (AML) are in the focus of a study conducted by the Russian Chapter of Transparency International. The…

Arbitrum Launches Native Governance Token ARB and Self-Executing DAO Governance Model – Bitcoin News

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The Ethereum layer two (L2) scaling solution Arbitrum has launched a native governance token named ARB and a self-executing decentralized autonomous organization (DAO) governance model. The ARB token will have an initial supply of 10 billion, and coins will be airdropped to the Arbitrum DAO treasury, Offchain Labs (the company behind Arbitrum), Offchain Labs investors, users of the Arbitrum platform, and DAOs that are building with the L2 technology. Arbitrum Launches Self-Executing DAO Governance Model That Aims for Increased Decentralization Arbitrum, the L2 scaling project, has announced the launch of…

Argentina Registers 6.6% CPI in February; Inflation Numbers Blast Past 100% YoY for First Time Since the 90s – Economics Bitcoin News

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The National Institute of Statistics and Census of Argentina released February’s numbers for the consumer price index (CPI), registering an increase of 6.6%, a consequence of the rises in prices of food and beverages principally. The number is among the highest in the history of Argentina, reaching more than 100% growth year-on-year (YoY), something that has alarmed local analysts. Argentina Registers Record CPI Levels in February The National Institute of Statistics and Census in Argentina released the inflation numbers for February, alarming local analysts. According to the report, February’s monthly…

Signature Bank Collapsed Because It Embraced Crypto Customers Without Sufficient Safeguards – Regulation Bitcoin News

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U.S. Senator Elizabeth Warren alleges that Signature Bank failed because it “bought into its get-rich-quick narrative” and “embraced crypto customers with insufficient safeguards.” Emphasizing that the bank took “excessive risk,” the senator demanded answers from the CEO of Signature Bank regarding “the economically disastrous outcomes you created.” Senator Elizabeth Warren’s Letter to Signature Bank’s CEO U.S. Senator Elizabeth Warren (D-MA) has attributed the failure of Signature Bank to its acceptance of crypto customers without having sufficient safeguards, Yahoo Finance reported Thursday. Signature Bank was seized by the New York State…

European Commissioner Says Impact of SVB Collapse ‘Limited’ as Credit Suisse Drags Down Banking Stocks – Finance Bitcoin News

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Silicon Valley Bank’s (SVB) collapse has had a “limited impact” on the European Union but authorities must still “stay alert” to events as they unfold, European Commissioner Mairead McGuinness has said. Despite McGuinness’ reassuring remarks, stocks of Europe’s largest banks still plunged by as much as 10% on March 15. Silicon Valley Bank’s ‘Limited’ EU Impact According to the European Commissioner for financial services, Mairead McGuinness, the collapse of the U.S. bank Silicon Valley Bank has so far had limited impact on the European Union (EU). However, in her March…

Republican Congressman Tom Emmer Queries FDIC on Alleged Efforts to Purge Crypto Activity from US – Bitcoin News

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On Wednesday, Tom Emmer, the U.S. Republican congressman from Minnesota, revealed he sent a letter to Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation (FDIC), regarding reports that the FDIC is “weaponizing recent instability” in the U.S. banking industry to “purge legal crypto activity” from the United States. Specifically, Emmer asked Gruenberg if the FDIC instructed banks not to provide banking services to cryptocurrency firms. GOP Majority Whip Emmer Questions FDIC’s Involvement in Purging Legal Crypto Activity Tom Emmer, a Republican politician from Minnesota, sent a letter to…

Ethereum Upgrade to Implement Beacon Chain Withdrawals Scheduled for April 12 – Technology Bitcoin News

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During the Execution Layer Meeting streamed on March 16, 2023, Ethereum developers announced that the blockchain is scheduled to upgrade on April 12, in 27 days. The upgrade, known as the Shanghai-Capella upgrade or Shapella, will include the implementation of Beacon chain push withdrawals. This will enable Ethereum network validators to support withdrawal operations following the ruleset change. Ethereum Validator Withdrawal Operations and Fee Optimization Enhancements Set to Go Live in 27 Days At the time of writing, the Beacon chain contract holds 17,680,535 ether, worth $29.33 billion using today’s…

US Government Auctions Off Failed Banks SVB and SNBY, Crypto Restrictions Apply – Bitcoin News

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The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17. However, sources familiar with the matter said the qualifications to purchase the banks are stringent, and reportedly, the purchasers cannot deal with crypto businesses anymore. Controversy Surrounds Alleged Crypto Restrictions for Potential Bank Buyers Last week, the second- and third-largest bank failures in America occurred within 48 hours of each other, and the two financial institutions…

Credit Suisse Receives 50 Billion Swiss Franc Bailout From Swiss National Bank – Bitcoin News

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Credit Suisse has experienced a loss of confidence in the financial institution’s health following a significant drop in its shares’ value this week. Over the past five days, Credit Suisse shares have fallen 24.34% against the U.S. dollar, eroding trust amid fears about the global banking system. On Wednesday at around 9 p.m. (ET), Credit Suisse announced that it was strengthening its liquidity by borrowing 50 billion Swiss francs ($54 billion) from the Swiss National Bank (SNB). As concerns about the world’s banking system continue to spread, bailout measures are…