Crypto news

A federal judge in the region of San Diego, California has ordered the leader of a crypto fraud scheme to pay as much as $17 million in restitution fees to more than 800 traders and investors that allegedly fell victim to his methods. Fraud Promoter Will Also Spend Time in Prison The scam was known as Bit Connect, and it will likely go down as one of the biggest crypto-based Ponzi schemes in history. Many investors who put their money into the platform were ultimately...

American business intelligence company MicroStrategy has recorded another quarterly loss after calculating the value of its Bitcoin portfolio. According to a Bloomberg report, MicroStrategy recorded a net loss of $249.7 million, narrowed down to $21.93 a share, in Q4 2022. The firm’s revenue declined by 1.5% to $132.6 million, going lower than the estimated drop. MicroStrategy Records $198M Impairment Charge  The Virginia-based company incurred an impairment charge of $197.6...

StarkWare – a company focused on Ethereum scaling – will open-source its Zero-Knowledge (ZK) software. StarkWare announced today that it plans to open-source its STARK Prover – the engine that’s designed to generate cryptographic proofs that compress hundreds of thousands of transactions for submission to Ethereum in fewer kilobytes than a smartphone photograph. This is also the technology that powers Starknet and StarkEx – solutions that have reportedly scaled more...

The bitcoin boom continues as more time in January was able to bring the world’s number one digital currency by market cap beyond the $19,000 mark, something the currency hadn’t seen since November of 2022. Bitcoin Is Growing Like Crazy January has brought on a certain degree of healing for most digital currency investors and traders. The previous 12 months had been so disastrous for bitcoin, literally eliminating more than 70 percent of its overall valuation. The...

Movie Pass – a program that seeks to provide lesser-priced movie tickets to theatergoers – is back with a bang. This time, it’s backed by cryptocurrency and getting a little help from the blockchain space. Movie Pass Is Coming Back with Crypto in Its Corner The company has had a rather harsh run of things, first rising to the ranks over a decade ago in 2011. The enterprise sought to provide discounted movie tickets, though there appears to have been some controversy...

The latest company in relation to the disgraced FTX founder to file for bankruptcy is the holding firm owned by him and Gary Wang – Emergent Fidelity Technologies. It’s headquartered in Antigua and Barbuda and reportedly had just $20 million in cash and no other assets. The filings for Chapter 11 were submitted late on Friday in the United States Bankruptcy Court for the District of Delaware. According to Bloomberg, the company, co-founded by Sam Bankman-Fried and Gary Wang,...

Unlike some of the previous weekends since the start of the year, this one has been rather calm for bitcoin, which remains slightly above $23,000. Some altcoins, though, have performed more impressively, including OKB and a few memecoins. SHIB, BabyDoge Skyrocket CryptoPotato reported yesterday Shiba Inu’s massive daily increase of over 10%. However, the second-largest memecoin is well in the green once again on a daily scale. SHIB is up by another 7.5%, while its weekly...

Bitcoin miners located in Texas reportedly suffered severe disruption of their operations due to a blizzard that battered the region. The extreme weather conditions prompted them to switch off their machines to preserve the local power grid.  The Cold Winter in Texas Surprised Crypto Miners As reported by Bloomberg, the ice storm that hit “the Lone Star State” damaged some of the equipment of the domestic bitcoin miners. Electricity consumption surged significantly due to the...

According to an investigation by The Bureau of Investigative Journalism and the Observer, more than 168 shell companies in the United Kingdom are suspected of operating fraudulent crypto or foreign exchange trading schemes, around half of which are potentially linked to pig-butchering scams. In fact, these organized crime groups were found to be using the UK as a “virtual base” for their operations while exploiting lax regulations to conduct fraud on an industrial scale, the...

XRP’s price has not yet shown any significant strength as it continues its struggle to surpass a critical resistance level over recent weeks. Things are not looking much better against BTC, with a major support level getting broken to the downside. Technical Analysis By: Edris XRP/USDT Daily Chart On the daily chart, the price has been consolidating in a tight range below the $0.43 resistance level for quite a while. The 200-day moving average, located around $0.4, has been...