Crypto news

Pavel Durov, the founder and CEO of Telegram, was reportedly arrested in France on Saturday evening after getting out of his private jet. Local media said the reason for his apprehension was related to offenses committed by the popular messaging app. Citing unnamed sources, TF1info broke the news on Saturday evening, claiming that Durov was arrested at Le Bourget Airport, located northeast of Paris. Although he has French and UAE passports, the Russian embassy said it had...

The US Securities and Exchange Commission has contested Hex founder Richard Heart’s attempt to dismiss its $1 billion securities fraud lawsuit, asserting its jurisdiction over the case. In its opposition brief, filed in a New York federal court on August 22 but dated July 8, the SEC contended that Heart’s motion to dismiss fails to address the well-supported allegations in the complaint and ignores relevant legal standards. Heart had previously argued in his dismissal motion...

German authorities seized nearly 250,000 euros ($279,000) in cash and 13 crypto ATMs during a nationwide crackdown. The operation, led by the Federal Financial Supervisory Authority (BaFin), is part of a broader effort to strengthen regulatory oversight in the country’s rapidly expanding cryptocurrency sector. Germany’s Raid on Crypto ATMs On August 20, German administrators executed a nationwide sting operation, targeting 35 locations where crypto ATMs were allegedly...

Fireblocks, a leading digital asset infrastructure provider, has announced its support for Yellow Card, a prominent stablecoin on/off ramp in Africa. This collaboration aims to streamline cross-border crypto transactions across the continent. Announced on X, the company revealed its ambitious goal of expanding to 14 million wallets through its Wallet-as-a-Service. Fireblocks will enable Yellow Card to benefit from its enhanced digital asset architecture for stablecoin transactions in Africa....

On August 23, 2024, U.S. District Judge William H. Orrick denied crypto exchange Kraken’s motion to dismiss a lawsuit filed by the Securities and Exchange Commission (SEC). The SEC alleges that some of Kraken’s cryptocurrency transactions could be classified as investment contracts and thus fall under securities regulations. According to the received evidence, Judge Orrick decided that Kraken generated more than $43,000,000 in revenue for the trading fees and allowed almost any transaction...

Tether recently assisted the US DoJ in recovering close to $5 million worth of USDT lost in a romance scam. It has reclaimed $108 million from scams since it launched in 2014. Tether, the firm behind the largest stablecoin by market capitalization, USDT, claimed it has helped victims of fraud and law enforcement agencies reclaim $108.8 million worth of USDT since its inception in 2014. The stablecoin issuer can track the flow of its asset, possessing the capability to block wallets from...

Polygon’s Discord channel was hacked today, with one team member asking users not to click on any links on the group. A user has stated they lost $150,000 from their Ethereum pool because of this hack. The official Polygon Discord channel was hacked earlier today. Its chief information security officer, Mudit Gupta, warned users of the incident. “PSA: Do not click on any links in the @0xPolygon community discord until further notice. It has been compromised and we’re trying to get back...

Coinbase has expressed the belief that young, pro-crypto voters might influence the 2024 US presidential elections and potentially could become the deciding factor on who wins. In a report released on August 19, the exchange states that Gen Z and Millennials—who now represent 40% of the electorate—are increasingly supporting candidates who advocate for crypto and financial innovation. Crypto’s Growing Appeal Ahead of 2024 Elections According to the blog, younger Americans are...

Nervos CKB, known for its secure and versatile blockchain platform, has announced the launch of a new initiative called Fiber Network. This next-generation open lightning network aims to enhance blockchain transactions. It will offer decentralized, low-cost, and rapid multi-currency payouts and peer-to-peer transfers for RGB++ assets. The Fiber Network, which is expected to go live for testing next week, is a common lightning network based on Nervos CKB and off-chain channels. It is aimed at...

Bitcoin (BTC) experienced a significant surge on Friday, climbing to nearly $64,000. This boost in price followed two major events that positively impacted the cryptocurrency market. The first was when the US Federal Reserve Chairman Jerome Powell mentioned that a monetary easing cycle would begin in the following month. This news led to a 3% increase in Bitcoin price within the next session of trading. The second one was the moment with the Independent presidential candidate Robert F....