Tag Archives: AA News

Bankrupt crypto lending platform BlockFi received court approval to put its Bitcoin mining business up for auction.  The company plans to sell its equipment as fast as possible, to take advantage of currently favorable market conditions. Selling While They Can BlockFi lawyer Francis Petrie told US Bankruptcy Judge Michael Kaplan on Monday that the company has already received bids for many of its assets, and expects more to come, according to BNN Bloomberg. This comes a week...

The New York Department of Financial Services reportedly launched an investigation against Gemini, alleging that the cryptocurrency exchange told its 340,000 Earn users they were FDIC-protected. The program, which provided clients up to 7.4% APY on their holdings, went down after the platform’s partner – Genesis – halted withdrawals and filed for bankruptcy. The NYDFS Targets Gemini As reported by Axios, New York’s regulator started investigating the Winklevoss-led trading...

Elon Musk is moving ahead with plans to bring payment functionality to Twitter, bringing another revenue stream to the struggling social media giant.  Though the technology will primarily be fiat-focused, it will be built so that crypto-functionality can be added in the future. Twitter and Payments As reported by the Financial Times on Monday, Esther Crawford – Twitter’s Director of Product Management – has been working with a small team to map out the architecture for...

Tron’s Founder – Justin Sun – said one of his primary targets is to see TRX becoming an official payment method in five different countries by the end of 2023.  He believes one of the nations to embrace the asset could be his homeland China. The ‘Ambitious Goal’ In a recent Twitter thread, Sun raised hopes the native token of the Tron blockchain – TRX – could be accepted as legal tender by “at least” five nations this year. He posted the flags of Dominica and Sint Maarten,...

Stablecoins have been one of the most controversial areas of the cryptocurrency industry. But this has not deterred industry leaders to bring about new pegged tokens built on a secure foundation. The much-awaited Djed – which happens to be Cardano’s native overcollateralized stablecoin – is set to launch this week. Developed jointly by the layer 1 blockchain network, COTI, along with core Input Output Global (IOG) devs, the stablecoin is expected to benefit the overall...

Last year’s industry-wide meltdown has haunted Asian firms as they cautiously plot their recovery. China was once a hotbed for crypto mining and trading. Even after announcing a blanket ban on all digital asset activities more than a year ago, there’s reason to believe that the country may make a comeback in the space. Tron founder Justin Sun, who has a history of hyping the industry, also said China could embrace the asset class, especially after the implementation of a tax...

The popular Bitcoin price analyst Plan B has outlined a scenario that he predicts could propel Bitcoin’s price up to $1 million in the year 2025.  At a minimum, he expects the asset to rise above $100,000 that year – over 300% above its current price. Return to the Bull Market In a video published on Sunday, Plan B emphasized his belief that Bitcoin’s pump in January confirms that the asset’s 4-year cyclical price bottom is now behind us. From here, he forecasts the start of...

Stephen Carr – a resident of Meaford, Ontario – said he lost his entire life savings of nearly $500,000 after being conned into a cryptocurrency scheme on YouTube. Scammers have used the video-sharing website multiple times to lure victims. Some have even uploaded fake recordings of famous people, including Elon Musk, Steve Wozniak, Bill Gates, and Kanye West, who appear to promote dubious cryptocurrency investments. ‘I’m Devastated’ In a recent interview, Carr said he got...

Senior United States District Judge William Fremming Nielsen sentenced the 56-year-old American Ronald Craig Ilg to eight years in federal prison. The latter hired hitmen on the Dark Web to kidnap his wife and beat his former colleague, and paid them over $60,000 worth of bitcoin. Maximum Penalty for the Doctor The US Department of Justice (DOJ) announced that Ronald Ilg will serve 96 months in federal prison and will be supervised for three years after his release. He will...

Argo Blockchain has been accused of federal securities law violation during the initial public offering (IPO) of its American depositary shares (ADS) in 2021, according to a filing in the United States District Court for the Eastern District of New York. The latest development is yet another blow to Argo, which was struggling to stay afloat amidst a brutal crypto winter. The complaint alleged that the company negligently prepared its IPO documents which hid crucial details...