Crypto news

The venture capital firm focused on cryptocurrencies – Digital Currency Group (DCG) – reportedly marked a loss of $1.1 billion last year.  Some of the primary reasons for the downfall were the collapse of the crypto market and the bankruptcy of its subsidiary – Genesis. DCG – a crypto conglomerate shuttered by scandals and the bear market – disclosed in a report (seen by CoinDesk) that the turbulent 2022 resulted in a $1.1 billion loss for the company. It pointed out Genesis’...

America’s largest cryptocurrency exchange is pulling out all the stops to ensure U.S. policymakers get things right with how they treat the crypto industry. The company has announced Crypto435 – a grassroots initiative to expand pro-crypto advocacy to citizens across all 435 Congressional Districts. Coinbase’s Advocacy Mission As tweeted by Coinbase on Tuesday, the initiative presents an opportunity for lovers of crypto and web 3 to make their opinions known in DC. Coinbase...

Distressed crypto lending platform Vauld was granted another period of extension of creditor protection from the Singapore High Court until March 24, during which the company will work out revival plans. Vauld halted withdrawals for its customers last summer after being hit by an unprecedented $200 million worth of withdrawals in under two weeks amidst excessive turmoil in the market. The lender, backed by Coinbase Ventures, PayPal cofounder Peter Thiel’s Valar Ventures, and...

Coffeezilla – the popular YouTuber and “Internet Detective” covering crypto scams – is now accusing the mixed martial arts legend Khabib Nurmagomedov of “scamming” his followers with NFTs.  The former UFC lightweight champion said his new collection will give fans access his his “private club,” while enabling holders to mine Bitcoin.  Khabib’s NFT Collection Nurmagomedov launched his NFT collection in partnership with GoMining, for whom he became an ambassador in October...

Algorand-based wallet provider MyAlgo has cautioned users to withdraw assets from all wallets created with a mnemonic phrase as the company continues investigating an exploit that led to a $10 million loss. The wallet provider tweeted on February 26, warning users that “a targeted attack was carried out against a group of high-profile MyAlgo accounts.” MyAlgo Urges Users to Withdraw Funds MyAlgo further explained that the attacked users had significant amounts of assets in...

Nishad Singh – the former head of engineering at bankrupt crypto exchange giant FTX – pleaded guilty to six criminal charges related to his activity with the firm during a court hearing on Tuesday. The ex- executive’s crimes include wire fraud, conspiracy to commit wire fraud, conspiracy to commit money laundering, and violation of campaign finance laws.  Another Guilty FTX Executive The plea, reported by Reuters,  was accepted by U.S. District Judge Lewis Kaplan and is the...

Two 37-year-old Estonian citizens named Sergei Potapenko and Ivan Turogin have been arrested after potentially defrauding hundreds of thousands of people in an alleged crypto scheme. The money lost at the time of writing is believed to exceed $575 million. Two Estonian Men Arrested for Crypto Fraud The scheme involved several false rental contracts, along with a fake bank and a crypto mining facility. The pair tricked customers into engaging in equipment rental contracts...

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Ripple’s price has remained dormant over the last couple of days, trading within the narrow range of $0.42 and $0.31 and struggling to break out. A slight decline towards the lower end of the range seems likely, given that the cryptocurrency was recently rejected at a crucial resistance level. Technical Analysis By Shayan The Daily Chart Ripple’s price has shown signs of weakness, printing small candles with no specific direction. Most recently, the price attempted to claim...

Robinhood Markets said it received an investigative subpoena from the US Securities and Exchange Commission (SEC) in December. The agency’s move is part of a major crackdown against the digital asset industry after the dramatic collapse of Sam Bankman-Fried’s crypto empire last year. The disgraced crypto mogul was recently hit by fresh criminal charges relating to political donations he made while running FTX. According to its latest 10-K filing, the subpoena is in regard to...