John Forsyth, a Missouri emergency room doctor, crypto advocate, and co-founder of crypto project Onfo (ONFO), was recently found dead in northwest Arkansas after being reported missing for over a week.
The 49-year-old man was last heard from on May 21 through text messages with his fiancée. Authorities told the deceased’s brother Richard Forsyth that John’s corpse was found on Tuesday.
ONFO Coin Co-Creator Mysteriously Found Dead
The Forsyth brothers created the ONFO coin in 2020, allowing users to earn tokens while referring others to the platform through a strategy called “network mining.” Forbes tagged John a “Bitcoin millionaire” in the same year, shortly before the third Bitcoin halving event, while he was a mathematics undergraduate.
According to a report from The

A new report by blockchain security company Beosin revealed that the total amount of crypto assets lost to exit scams and rug pulls was higher than the amount stolen from decentralized finance (DeFi) projects through exploits and attacks last month.
Beosin also discovered that losses from the exploits in May were down 79% compared to April, signaling a continued decline for two consecutive months.
Losses From Rug Pulls Surpass DeFi Exploits
Over $45 million was lost to crypto rug pulls in May across six incidents. The largest exit scam was that of DeFi lending protocol Fintoch – suspected of being a Ponzi scheme – which vanished with 31.6 million USDT ($31.6 million) in users funds on May 24.
The second-largest rug pull was the theft of roughly $5.9 million by Inferno

Leading cryptocurrency exchange, Binance, has just concluded its first metaverse reality show dubbed “Build The Block.” The show ends with the blockchain project zkPass emerging as the winner, opening the way to several awards from the exchange.
zkPass is a decentralized privacy-protecting identity protocol that harnesses Multi-party Computation (MPC) and Zero-knowledge Proof (ZKP) technology to enable users to prove their verifiable data in the Web2 and Web3 networks.
zkPass to Receive Funding From Binance Labs
According to a press release shared with CryptoPotato, Binance awarded zkPass as the winner of its show after the protocol’s founding members received the highest votes throughout the seven-episode competition featuring 12 finalists. The purpose of the

Michael Novogratz, the founder and CEO of Galaxy Digital, believes the crypto space is lackadaisical right now due to low participation from institutional investors.
During an interview with CNBC, the American investor said the market lacks enthusiasm as most of the recent activities in the space are coming from retail buyers while large-scale players are withdrawing.
“Quite frankly, crypto is lackadaisical, I’d say. There’s a constant bid from retail. We’re seeing it through all the platforms, and there’s not a lot of institutional excitement right now and so the dog days of summer started early in crypto. Does it make me thrilled? That’s just the reality,” Novogratz said.
Lack of Enthusiasm From Institutional Investors
Novogratz’s statement resounds a May 31 report from

Tether (USDT), the world’s largest stablecoin, achieved a groundbreaking milestone by surpassing its previous all-time high market cap of $83.2 billion, a record set back in May 2022.
This remarkable feat further cements Tether’s unrivaled dominance in the rapidly expanding stablecoin market, which currently totals an astonishing $130 billion, with USDT’s market cap surpassing the combined value of its closest competitors.
USDT Breaks 2022 Market Cap ATH
According to a blog post by Tether, the USDT stablecoin had an outstanding performance in Q1 2023 with a net profit of $1.48 billion.
“Today’s numbers demonstrate that people want access to financial freedom, and when given that access, they will make use of it. Tether tokens offer a safe harbor for the unbanked and allow

Popular cryptocurrency exchange Bybit announced it will be exiting the Canadian market, citing recent regulatory developments in the country as the reason behind its decision. The move follows similar decisions made by other exchanges that ceased operations in the North American nation.
Starting May 31, new account openings will be unavailable, while existing customers will have until July 31 to make further deposits and enter into new contracts. The company also promised that old users would be able to withdraw or reduce their positions after the closing date.
A Difficult But Necessary Decision
Bybit’s decision to leave Canada comes after the Canadian Securities Administrators (CSA) issued new guidance for crypto entities, which forces digital asset trading platforms to

On Tuesday, the prices of bitcoin and other crypto assets were seen trading at a discount on the Australian arm of Binance, the world’s largest crypto exchange by trading volume, compared to rival local platforms.
As of 1:10 pm, bitcoin (BTC) was trading at A$34,863 ($22,670) on Binance Australia, about A$7,516 ($4,913) lower than the average price on most exchanges, including BTC Markets, where it was trading at A$43,000 ($28,130), Coinjar and Independent Reserve. Other assets like Ether (ETH) and Solana (SOL) also traded at about 20% discounts.
Bitcoin Trades at a Discount in Binance Australia
The discounts on crypto prices on Aussie exchanges could be attributed to users trying to exit their positions quickly to avoid being cut off from a local withdrawal route

Seychelles-based cryptocurrency exchange OKX published its seventh proof-of-reserves (PoR) report in line with efforts to push the new industry standard of transparency and trust within the crypto community.
The new report shows that OKX has reserves of $10 billion in bitcoin (BTC), ether (ETH), Tether (USDT), and other assets.
OKX Releases Seventh PoR Report
The audit, which was concluded on May 19, 2023, shows that OKX’s current reserve ratios are 103% for BTC, 103% for ETH, and 103% for USDT. The PoR also covers 19 other widely-used crypto assets like USD Coin (USDC), Ripple (XRP), Dogecoin (DOGE), Solana (SOL), and Tron (TRX).
Since April, users have been able to independently verify OKX’s solvency through the Zero-Knowledge Scalable Transparent Argument of Knowledge

Crypto exchange Gemini and bankrupt digital asset lender Genesis Global Capital have jointly filed a motion to dismiss a lawsuit from the U.S. Securities and Exchange Commission (SEC) against the former’s Earn program.
According to a document filed at the United States District Court for the Southern District of New York on Friday, May 26, Gemini and Genesis insisted that the SEC has no basis in law to describe the Earn product as the sale of unregistered securities, as it was a crypto asset lending service.
Gemini and Genesis Ask Court to Dismiss SEC Lawsuit
Recall that the SEC filed a complaint against Gemini and Genesis in January for allegedly selling unregistered securities to retail investors in the U.S. through the Gemini Earn program.
The program, launched in

On-chain analyst and whale tracker Nova has spotted a profitable average trader that became a whale within five months. The said wallet 0x*************121F760e, who has “nailed” every trade since January, has a record of more than 10,000% realized profit.
Nova noted that the whale’s success stemmed from good trading strategies, not luck, as they had properly managed every win and loss.
From Average Trader to Whale
According to Nova’s Twitter thread, the anonymous trader stands out from others because their profits are realized. Calling the trader a “real alpha,” the crypto analyst lauded them for attaining the position through their performance and not other sources of revenue, just like most whales.
“There are plenty of whales in the market, but not all of them are

American basketball legend Shaquille O’Neal is facing a new lawsuit for promoting the Solana-based crypto project, Astrals.
According to the class action lawsuit filed with a Floridan court by plaintiff Daniel Harper, Shaquille shilled the Astrals token through posts and videos on several of his social media handles.
O’Neal Faces Lawsuit Over Astrals Project
According to the lawsuit, Astrals is a 3D-modeled NFT collection founded by the NBA celebrity alongside his son, Mylers O’Neal. Shaq’s son headed the role of “Investors Relations” while his music manager, Brian Bayati, acted as the project’s CEO.
Building on the Solana network, Astrals seeks to onboard users into an ecosystem that offers gaming and metaverse experiences. These services are accessible through the

Fintoch, a decentralized finance (DeFi) protocol that offers peer-to-peer (P2P) lending and investment services, has absconded with $31.6 million in cryptocurrencies belonging to investors in an apparent exit scam.
Multiple tweets from Fintoch users complaining about being unable to withdraw their assets were seen on Twitter earlier today, confirming suspicions that the platform had vanished with investors’ funds.
Fintoch Rug Pulls Users
Famous Web3 expert and on-chain analyst ZachXBT announced the rug pull on Twitter late Tuesday, suggesting that the team behind Fintoch had scammed users on the Binance Smart Chain (BSC).
Zach disclosed that Fintoch had transferred 31.6 million worth of Tether (USDT) to multiple addresses on the Tron and Ethereum networks on May 22 around

A United States Court has granted a motion to dismiss a lawsuit alleging Binance’s involvement in a pig butchering scam that stole roughly $8 million from its victim.
According to a recent filing with the U.S. District Court for the Eastern District of Texas, Judge Amos Mazzant granted Binance’s motion to dismiss the case for lack of personal jurisdiction and the plaintiff’s failure to state a claim.
An $8M Pig Butchering Scam
A pig butchering scam involves criminals luring victims into financial investments by building digital romantic relationships to gain their trust. Initially, the scheme mostly solicits modest investments to bolster the victims’ confidence before seeking large funds.
The plaintiff, a Texas woman named Divya Gadasalli, was promised romance and

In the dynamic world of cryptocurrencies, where innovation and volatility often go hand in hand, certain events have the power to send shockwaves through the entire industry. From groundbreaking partnerships to catastrophic crashes, the crypto realm has witnessed its fair share of astonishing moments that have left investors, enthusiasts, and skeptics alike in awe.
In this article, we’ll take a walk through memory lane, reviewing eight extraordinary events that have not only reshaped the landscape of digital currencies but have also left an unforgettable mark on the collective consciousness of the crypto world.
February 2014: The Mt. Gox Hack
It was a moment that sent shockwaves through the fledgling cryptocurrency world – a sudden halt to all activities, an offline

Today- May 22 – is the 13th anniversary of Bitcoin Pizza Day, a historic event that marked the first time BTC was publicly used as a medium of exchange. On 22 May 2010, Laszlo Hanyecz, a programmer and early Bitcoin adopter, forever etched his name in history by purchasing two Papa John’s pizzas for 10,000 BTC.
As the world celebrates the 13th Bitcoin Pizza Day, let’s reflect on the astronomical growth that Bitcoin has achieved, both in value and as a viable payment method for goods and services, since that fateful day.
Bitcoin Pizza Day
Although the 10,000 BTC Hanyecz spent to purchase the two pizzas was worth $40 at the time of the transaction, the present value is worth an astonishing $270 million, with the asset’s current price standing at $27,000. This illustrates

Global payments giant Visa has deployed experimental smart contracts on Ethereum’s Goerli testnet to pilot gasless transactions through account abstraction.
The two sets of smart contracts, dubbed Paymaster, will simplify user interaction with the Ethereum network by performing complex tasks and managing transaction costs on behalf of other accounts.
Visa Tests Paymaster for Frictionless Transactions
Account abstraction is a proposal to increase flexibility in the management and behavior of Ethereum accounts by separating the control of an account from its associated private key, allowing it to be controlled by a smart contract. The mechanism is enabled by ERC-4337, a new Ethereum standard launched in March.
Visa seeks to leverage the ERC-4337 standard to implement an

Developers of decentralized exchange (DEX) Swaprum have drained $3 million in ether (ETH) tokens from the protocol in an apparent rugpull, otherwise known as an exit scam.
The exchange, launched on the Ethereum layer-2 network Arbitrum, offers high farming rewards, low swapping fees, and potential earnings of up to 100% annual percentage yield (APY).
Swaprum Rugpulls Users for $3M
Blockchain security firm Peckshield flagged the incident on Friday, disclosing that approximately 1,628 ETH, worth roughly $3 million, was drained from Swaprum’s liquidity pools. Onchain data shows that the exit scam was executed in the late hours of Thursday.
The team first removed the liquidity provided for SAPR, the platform’s native token, on the exchange and sold the assets for ETH. The

Bankrupt cryptocurrency entities FTX, FTX.US, and Alameda Research have filed a lawsuit against former executives Sam Bankman-Fried (SBF), Nishad Singh, and Gary Wang for lavishly spending FTX Group’s assets on the acquisition of stock clearing firm Embed Financial Technologies.
The move is the first formal action from FTX CEO John Ray against the company’s former management. The lawsuit, filed in the United States Bankruptcy Court for the District of Delaware, seeks to claw back the funds spent during the acquisition.
FTX Sues SBF and His Inner Circle
According to the court document, the plaintiffs accused the former management of taking advantage of FTX Group’s lack of controls and recordkeeping to inflate the valuation of Embed and deliberately purchasing the platform

Brad Garlinghouse, the chief executive officer of blockchain company Ripple, believes more crypto firms and businesses will leave the United States due to confusing regulations in the country.
During an interview with CNBC, the CEO said the confusion in the country would push crypto entrepreneurs and investments into other friendly regions like Europe, the United Arab Emirates (UAE), the United Kingdom, and even Singapore.
Regulatory Confusion in the U.S.
Garlinghouse noted that Europe, the UAE, and the U.K. are providing clarity and leadership on regulating digital assets, and their efforts allow founders and investors to engage constructively with watchdogs and authorities. He asserted that Europe is a beneficiary of the current situation in America.
“I think it’s fair

Bankrupt crypto lender Blockfi has requested that a court authorize the sale of its lending business as it looks to generate funds to repay creditors.
The move comes after futile attempts to sell the lending platform to a third party. BlockFi disclosed that it did not receive value-maximizing offers from potential buyers.
BlockFi Looks to Liquidate Lending Business
The bankrupt lender disclosed the Chapter 11 restructuring plan in a document filed with the U.S. Bankruptcy Court in Trenton, New Jersey, on Friday. While the firm intends to solicit votes from creditors and retail customers, the plan is still subject to approval by the court.
BlockFi, which filed for bankruptcy protection in November, cited regulatory developments as one reason for not receiving quality bids

The latest buzz in the crypto world revolves around the newly introduced Bitcoin token standard (BRC-20), which has garnered considerable attention and favor owing to the recent memecoin craze. Despite the ongoing hype, the token standard is still subject to certain constraints concerning the broader crypto landscape.
A recent report by leading crypto exchange Bitfinex has emphasized the token standard’s potential and the significance of identifying more use cases to expedite its widespread adoption.
The BRC-20 Token Standard
In March, the BRC-20 token standard, known as “Bitcoin Request for Comment,” was established utilizing the Ordinals protocol. Originally designed to facilitate the creation of Bitcoin non-fungible tokens (NFTs) by inscribing data such as images,

A new report by global capital markets data platform PitchBook revealed that crypto-focused companies raised $2.6 billion across 353 investment rounds in the first quarter of 2023.
The amount raised signaled a 12.2% and 11% decrease in the quarter-on-quarter total number of deals and deal value, respectively. It also represented the fourth consecutive quarter of decreasing investment activity, as the amount was the lowest capital invested and deals completed since Q4 2020.
Crypto Startups Raised $2.6B in Q1
Despite declining investment activity for the fourth consecutive quarter, Q1 2023 saw positive outlooks for the crypto space.
The PitchBook crypto report disclosed that valuation trends were mixed, with seed, late and early-stage rounds at different levels for the

A U.S. court has given troubled cryptocurrency exchange Bittrex Inc. permission to borrow $7 million worth of bitcoin (BTC) to fund the start of its Chapter 11 bankruptcy case.
According to a Reuters report, Bankruptcy Judge Brendan Shannon approved the exchange’s request on an interim basis at a Wednesday court hearing in Wilmington, Delaware.
Bittrex to Borrow $7M in BTC for Bankruptcy
Recall that Bittrex Inc. filed for bankruptcy protection on Monday, intending to return customer funds and shut down its American businesses.
While the exchange’s offshore entity, Bittrex Global, based in Liechtenstein, was excluded from the bankruptcy filing, Bittrex Malta Ltd. and Bittrex Malta Holdings were affected.
The bankruptcy filing came a few weeks after the firm, which announced

Su Zhu, the co-founder of the now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC), has obtained a restraining order from a Singaporean court against Arthur Hayes, the co-founder and former CEO of crypto exchange BitMEX.
According to a court document seen by CoinDesk, the restraining order prohibits Hayes from using any insulting or abusive communication that would cause Zhu alarm, harassment, or distress.
Hayes Restrained From Abusing Zhu
In the past few months, Hayes has constantly asked Zhu and his 3AC partner Kyle Davies to repay a $6 million debt that stemmed from the hedge fund’s collapse last year.
Recall that Three Arrows Capital was ordered into liquidation by a British Virgin Islands court in June due to challenges it faced amid the first wave of the

U.S. President Joe Biden is advocating for an end to tax loopholes that benefit what he described as “wealthy crypto investors.”
In a Twitter post late Tuesday, Biden shared an infographic that read: “We think Congress should cut tax loopholes that help wealthy crypto investors.”
According to the post, these loopholes have cost the government around $18 billion in revenue. In his tweet, the president mentioned “MAGA House Republicans” as opposers of his tax plans.
Biden Reprimands Republicans
Biden stated that while he is calling for these changes, the MAGA House Republicans are in support of the tax loopholes and, in contrast, advocating cutting food safety inspections.
President Biden’s post sparked a lot of reaction from the crypto community on Twitter, with many

Trending memecoin Pepecoin (PEPE) has plummeted by more than 55% in the last four days after a remarkable performance turned several investors into overnight millionaires. 
The memecoin, which jumped to the 45th largest cryptocurrency by market capitalization within three weeks after its launch, began a downward spiral on Friday, May 5, after it was listed for trading on Binance, the world’s largest crypto exchange. 
PEPE Drops 55% From ATH
At the time of the Binance listing announcement on Friday, PEPE was worth $0.000002023. The news drove the craze around the memecoin, and its price skyrocketed to an all-time high (ATH) of $0.000004354. 
However, the token’s price has since plunged roughly 56%, as early investors likely withdraw their profits. At the time of writing,

America’s largest cryptocurrency exchange Coinbase is considering the United Arab Emirates (UAE) as a potential strategic hub for its international operations.
In a Monday blog post, Coinbase’s vice president for international and business development Nana Murugesan disclosed that the exchange is currently in talks with Abu Dhabi Global Market (ADGM) regulators to expand the licensing for the just-launched Coinbase International Exchange.
Coinbase to Make UAE a Hub
The Coinbase executive team, including co-founder and CEO Brian Armstrong and Murugesan, are currently in the UAE for meetings with policymakers, Web3 and crypto founders, and clients. Armstrong is set to give a keynote speech at the ongoing Dubai Fintech Summit under the patronage of the Royal Highness, who is

Brian Armstrong, the co-founder and CEO of leading American cryptocurrency exchange Coinbase, believes the U.S. Securities and Exchange Commission (SEC) is on a lone crusade in the push for regulatory clarity in the country, as the agency’s stance on the matter is different from that of Congress and other federal regulators.
During a Monday interview with CNBC, the CEO insisted that SEC chair Gary Gensler is attempting to regulate the American digital asset industry from an anti-crypto perspective for some unknown reason.
A Lone Crusader
“I think the broad consensus view in the U.S. government is that there should be a clear rule book, and this is going to require new legislation from Congress. The SEC is a bit of an outlier here. There’s kind of a lone crusade, if you

The British Columbia Securities Commission has accused ezBtc, a defunct Nanaimo-based cryptocurrency platform, and its founder David Smillie, of perpetrating a multimillion-dollar securities fraud scheme.
The commission alleged that Smillie and his crypto firm lied to customers about the platform and diverted their assets to online gambling sites.
ezBtc Allegedly Diverted $13M in Customer Assets
According to a Bloomberg report, the accusations were outlined in a notice of hearing issued last month. The B.C. Securities Commission accused Smillie and ezBtc of moving $13 million worth of users’ assets, including bitcoin (BTC) and ether (ETH), to virtual gambling sites without authorization from the owners.
While ezBtc ceased operations in October 2022, users moved 2,300 BTC

Brian Armstrong, the co-founder and chief executive officer of major American cryptocurrency exchange Coinbase, revealed that the company is still 100% committed to the US market, despite the lack of regulatory clarity in the country.
The CEO’s disclosure came as a response to a question from shareholders, who were curious about Coinbase’s plans to move operations out of the US and the implications of such for customers, during an earnings call for Q1 2023 on Thursday.
Coinbase Will Not Leave the US
Armstrong said he founded Coinbase in the US because he observed the prevalence of the rule of law in the country. He expressed his optimism about America eventually getting it right, as he had already noticed strong bipartisan support for Congress to create clear legislation