Tag Archives: AA News

Fitch Ratings – one of the world’s “Big Three” credit rating agencies – has removed the United States from its position among the very highest tier of long-term lending counterparties. The nation’s Long-Term Foreign-Currency Issuer Default Rating (IDR) slid from AAA to AA+ on Tuesday, prompting criticisms against Fitch from both the U.S. Treasury Department and the White House. Why The Downgrade? According to Fitch, the downgrade reflects expectations of “fiscal...

Cohen & Gresser – an international law firm representing the former CEO of FTX Sam Bankman-Fried (SBF) – maintained that he did not attempt to intimidate Caroline Ellison (ex-leader of Alameda Research) or taint the jury’s sentiment when talking to a New York Times reporter. The 31-year-old, who faces several fraud charges and is accused of being the main culprit behind the collapse of the once-leading crypto exchange, shared quoted excerpts of Ellison’s private diary,...

Ripple CEO Brad Garlinghouse said the contents of the company’s quarterly financial reports could take a different turn from the usual after the US Securities and Exchange Commission (SEC) used the firm’s disclosures against it in the lawsuit. Meanwhile, XRP holders lawyer John Deaton believes Ripple’s transparency saved the firm from facing fraud and manipulation allegations. Ripple Increases XRP Holdings in Q2 2023 Garlinghouse stated that the company voluntarily started...

Bitcoin (BTC) whale MicroStrategy announced on Tuesday that it has gobbled up another 420 BTC since its last announcement in June. This brings the company’s total holdings up to 152,800 BTC worth $4.46 billion. According to MicroStrategy’s Q2 earnings report, the firm’s 12,800 BTC acquired since Q1 was acquired for $28,233 per coin – below the asset’s current market price of $29,195.However, the company’s average purchase price for its total BTC holdings remains at $29,672,...

Lawyers representing FTX’s creditors said they weren’t filled in on a recently proposed plan to revive the company’s international exchange, according to a Monday night filing.  Creditors claimed that the proposed restructuring plan is a mere “idea” with no formal talks having taken place to actually put it into action.  No Contact With Creditors? The claimants’ statement accused FTX’s lawyers of breaking their promise to provide a public roadmap for the bankruptcy...

The Chief Executive Officer of Binance – Changpeng Zhao (CZ) – said one reason why his company recently introduced the stablecoin FDUSD is the terminated partnership with Paxos. While the two entities teamed up in 2019 to launch the USD-denominated BUSD, the New York state regulators told Paxos to stop minting new tokens earlier this year. CZ said that, as of the moment, Binance has no intention to list its own stablecoin but rather collaborate with other companies focusing...

The Internal Revenue Service (IRS) has ruled that U.S. cryptocurrency investors must include staking rewards in their gross income since crypto assets are treated as property for federal income tax purposes. According to an official document, taxpayers must include the fair market value of their staking rewards in their gross income as soon as they gain control of the crypto assets. IRS Declares Crypto Staking Rewards Taxable In the Proof-of-Stake consensus mechanism, crypto...

A phishing scammer recently nabbed $20 million in USDT from an unsuspecting victim using a zero transfer phishing attack, reported blockchain security firm PeckShield on Tuesday. The stolen funds were frozen in short order by Tether – the issuer behind USDT – raising questions about who the victim was given the speed of their response. The Zero Transfer Phishing Attack According to PeckShield, the victim address intended to send funds to one wallet, but was fooled into...

It may not seem like it today, with crypto markets tanking, but DeFi assets have been steadily recovering over the past month, according to Glassnode. On July 31, on-chain analytics platform Glassnode published a report on the state of DeFi tokens amid this year’s regulatory issues. “Regulatory conditions in 2023 have been a tug-of-war between positive and negative news, with altcoins and DeFi tokens being the most heavily impacted,” it stated. Regulatory conditions in 2023...

Ken’s job in the Barbie movie might literally be Bitcoin. Influencers across the crypto sphere went wild for Robbie’s remarks last week. During a recent interview, the Australian actress (Wolf of Wall Street, Suicide Squad) said Bitcoin talk is “Big Ken Energy.” Ken, of course, is Barbie’s boyfriend. The Ken doll first debuted in 1961, and Ken accompanies Barbie on her adventures in this year’s high-grossing comedic fantasy movie. He’s had many jobs over the years, but some...