Tag: News

Unbacked Cryptos Are a ‘Vehicle for Gambling’ Lacking ‘Intrinsic Value’ – Finance Bitcoin News

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Fabio Panetta, part of the Executive Committee of the European Central Bank (ECB), believes that unbacked cryptocurrency assets are vehicles for gambling without intrinsic value, which need to be regulated. In an opinion piece, Panetta states that while cryptocurrency regulation is a good answer to the problem, it must also touch on decentralized finance structures. ECB Executive Member Fabio Panetta Believes Crypto Should Face Gambling-Like Regulation The subject of cryptocurrency regulation and how it should be applied continues to be an essential issue across regulators worldwide. Fabio Panetta, a member…

Israel’s Securities Watchdog Seeks to Regulate Crypto Assets – Regulation Bitcoin News

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The body overseeing the securities market in Israel is taking steps to incorporate rules for digital assets into the existing legislation. The regulator released a draft proposal to introduce the changes that would define the legal status of cryptocurrencies in the country. Amendments to Israel’s Securities Laws Aimed at Expanding Supervision Over Crypto Arguing that as crypto assets are often used for investment, the Israel Securities Authority (ISA) has insisted they need to be covered by the regulatory framework and placed under its oversight. To achieve that, the watchdog is…

Darknet Forum Dread to Relaunch After Month-Long Downtime Due to DDOS Attack – Bitcoin News

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According to web portal darkdot.com and anonymous journalist Darkdotfail, the popular darknet forum Dread has been down for a month. The well-known forum, which was a place for darknet market (DNM) patrons to discuss operations security, rate specific vendors, and talk about stealth delivery ideas, has been absent for 30 days. However, the forum’s founder, “Hugbunter,” has stated that it will relaunch in the near future. Dread Forum Founder Announces Plans to Relaunch In the underground world of darknet markets (DNMs), the forum Dread was known for being a go-to…

US Government Seizes Robinhood Shares Linked to FTX Founder Sam Bankman-Fried – Regulation Bitcoin News

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The U.S. Department of Justice (DOJ) is in the process of seizing Robinhood shares, worth about $460 million, that are linked to former FTX CEO Sam Bankman-Fried (SBF). “We believe that these assets are not property of the bankruptcy estate or that they fall within the exceptions … of bankruptcy code,” a DOJ attorney told the judge overseeing the FTX bankruptcy case. DOJ Seizing Robinhood Shares Linked to FTX The U.S. government is in the process of seizing 56 million shares of Robinhood Markets Inc. (Nasdaq: HOOD), worth about $460…

SEC Intervenes in Binance US Acquisition of Bankrupt Crypto Lender Voyager Digital’s Assets – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has intervened in the asset purchase agreement between Binance US and bankrupt crypto lender Voyager Digital. The securities regulator explained that it is “formally investigating whether the debtors and others violated the anti-fraud and other provisions of the federal securities laws.” SEC Intervenes in Binance-Voyager Asset Purchase Deal The U.S. Securities and Exchange Commission (SEC) filed a “limited objection” to the asset purchase agreement between bankrupt crypto firm Voyager Digital and the U.S. arm of crypto exchange Binance on Wednesday. The court filing…

Fanatics to Sell 60% of Candy Digital Stake Amid Struggling NFT Market – Bitcoin News

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Fanatics, the retailer specializing in licensed sports merchandise, is divesting 60% of its stake in the non-fungible token (NFT) company Candy Digital, according to reports. The company is selling its Candy Digital stake to an investor group associated with billionaire Mike Novogratz and his firm, Galaxy Digital. Report Says Sports Retail Giant Fanatics to Sell Majority of Candy Digital Stake After a rough 2022 in the non-fungible token (NFT) industry, licensed sports merchandise firm Fanatics has decided to sell 60% of its Candy Digital shares, according to a CNBC report…

Three Arrows Capital Founders Served Subpoenas via Twitter in Bankruptcy Process – Bitcoin News

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The founders of the now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC) have been served subpoenas by the fund’s liquidators via Twitter. While serving subpoenas on Twitter is rare, it has happened on various occasions in the past, including when WikiLeaks was served on Twitter in 2018. Founders of Defunct Crypto Hedge Fund Contacted Electronically on Twitter Due to Difficulties Reaching Them Su Zhu and Kyle Davies, the founders of Three Arrows Capital (3AC), have allegedly been hard to contact in regard to the bankruptcy liquidation process. The now-bankrupt cryptocurrency…

New York Attorney General Sues Celsius Co-Founder Alex Mashinsky for Crypto Fraud – Bitcoin News

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On Jan. 5, 2023, the state of New York and attorney general Letitia James filed a lawsuit against Alex Mashinsky, the co-founder and former CEO of Celsius. The lawsuit claims that Mashinsky and Celsius defrauded “hundreds of thousands of investors, including more than 26,000 New Yorkers, out of billions of dollars worth of cryptocurrency.” Former CEO of Celsius Accused of Making False Promises, Misleading Investors The day after Core Scientific detailed that it was shutting down 37,000 bitcoin miners owned by Celsius, New York’s Attorney General filed a lawsuit against…

Unreported Transactions Linked to Disgraced FTX Co-Founder Revealed by Onchain Investigation – Bitcoin News

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According to onchain research, wallets connected to Sam Bankman-Fried, the disgraced co-founder of FTX, transferred a significant number of previously unreported transactions across various blockchains. The transfers were discovered by Conor Grogan, a director at Coinbase, and while most of the transactions took place on Dec. 28, there was some recent activity in the first few days of the new year. Onchain Discoveries Uncover Suspected Unreported Transactions Associated With SBF, FTX, and Alameda Roughly a week ago on Dec. 28, 2022, onchain investigators discovered that a number of funds linked…

DOGE, SHIB Surge to Multi-Week Highs on Thursday – Market Updates Bitcoin News

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Dogecoin raced to a multi-week high on Jan. 5, as meme coins rose higher following recent days of consolidation. The coin climbed for a second straight session on Thursday, which comes ahead of Friday’s U.S. nonfarm payrolls numbers. Shiba inu was also in the green, after today’s gains. Dogecoin (DOGE) Dogecoin (DOGE) rose for a second straight session on Thursday, as the meme coin moved away from a recent spell of consolidation. Following a low of $0.07181 on Wednesday, DOGE/USD climbed to an intraday peak of $0.07503 earlier today. The…