Crypto news

The U.S. Securities and Exchange Commission (SEC) has filed charges against NovaTech Ltd. and its principals, Cynthia and Eddy Petion, for allegedly organizing a crypto fraud that defrauded over 200,000 investors worldwide, including many within the Haitian-American community. The SEC’s complaint details that NovaTech, under the leadership of the Petions, was promoted as a multi-level marketing (MLM) and crypto asset investment program. $650 Million Crypto Ponzi Scheme...

The cryptocurrency market is going through a rough patch at the moment, with many coins withdrawing from their respective yearly highs. According to the popular cryptocurrency Fear and Greed Index, the market is currently in a state of “Extreme Fear,” indicating the ongoing uncertainty among participants. Source: Alternative.meThat said, we decided to have some fun with ChatGPT and ask one of the more pressing questions, comparing three of the most popular altcoins as of...

The Shiba Inu team has come up with an important announcement that’s integral to the ongoing and long-term development of the project. In a tweet from August 16th, the team said that the long-awaited community Burn Portal is now live. Introducing Shib Torch! The long-awaited community Burn Portal is now live. Every Shibarium L2 transaction now helps burn SHIB, reducing the total supply. Introducing #ShibTorch! The long awaited community Burn Portal is now live. Every...

The International Monetary Fund (IMF) recently suggested a significant increase in electricity taxes for cryptocurrency mining, which could lead to a global reduction in carbon emissions. Two IMF executives, Shafik Hebous and Nate Vernon-Lin, proposed raising electricity taxes by up to 85% for crypto miners. They believe this move could help reduce the environmental impact of crypto mining. The proposal involves a tax of $0.047 per kilowatt hour on electricity used by crypto miners. This...

Blockchain investigator ZachXBT has released information regarding North Korean developers who allegedly stole $1.3 million from a project’s treasury. The theft was carried out when the devs, who had been hired using fake identities, injected malicious code into the system, which allowed the unauthorized transfer of funds. ZachXBT Uncovers Crypto Workers Scheme ZachXBT explained on X that the stolen funds were initially sent to a theft address and bridged from Solana to...

A new financial disclosure has revealed that Trump has millions of dollars invested in crypto – an industry that’s become a clear target of his electoral campaign. Yet despite his many specific appeals to Bitcoin investors, there’s no evidence that the former president holds any BTC himself, as opposed to smaller alternatives. Trump’s Crypto Portfolio According to the 2024 disclosure published by Citizens for Ethics, the Republican nominee holds somewhere between $1 million...

Switzerland has initiated a public consultation on a new bill that aims to integrate cryptocurrency tax data into its international information exchange agreements. Announced by the Federal Council on Wednesday, this initiative seeks to extend the sharing of crypto asset information to 111 jurisdictions that are part of the existing automatic exchange of information (AEOI) system. This process will be in line with the OECD’s Crypto-Asset Reporting Framework. Switzerland has been one of the...

According to recent data from Token Terminal, the Tron network has overtaken Ethereum in terms of revenue generation. Over the past 90 days, the blockchain network has accrued approximately $435 million in fees, outpacing Ethereum’s $364 million. Tron’s Revenue Surpasses Ethereum by 50% Tron’s founder, Justin Sun, took to X on August 15 to highlight this achievement, stating that in the last 30 days, Tron’s protocol revenue exceeded Ethereum’s by 50%. In the past 30 days,...

In a significant development, Binance has agreed to pay 9.6 million reais (about $1.76 million) to settle an investigation with Brazil’s Securities and Exchange Commission (CVM). This investigation focused on Binance’s unauthorized derivatives trading in Brazil, concluding a regulatory dispute that lasted over four years. The problem started in June 2020 when the CVM claimed that Binance was providing derivatives trading without the right authorization. The regulator first insisted on...

Jump Crypto previously sold hundreds of millions of dollars of ETH. This coincided with ETH’s price not breaking through to the next level, with ETH ETFs debuting in the US and the asset further crashing when the Nikkei experienced a bloodbath. Jump Crypto, trading firm Jump Trading’s crypto vertical, unstaked 17,049 ETH worth $46.44 million, moving the funds to exchange accounts. Many crypto market participants fear the firm will sell these funds, causing ETH’s price to drop again. Jump...