Tag Archives: AA News

Crypto exchange Gemini and bankrupt digital asset lender Genesis Global Capital have jointly filed a motion to dismiss a lawsuit from the U.S. Securities and Exchange Commission (SEC) against the former’s Earn program. According to a document filed at the United States District Court for the Southern District of New York on Friday, May 26, Gemini and Genesis insisted that the SEC has no basis in law to describe the Earn product as the sale of unregistered securities, as it...

The Commodities Futures Trading Commission (CFTC) has sued five individuals for falsely promoting bitcoin and crypto trading services, thereby swindling unsuspecting investors. The defendants in the case, according to the CFTC, mainly targeted Spanish-speaking users. Majority of Victims Were From Spanish-speaking Communities The CFTC alleged that five people — David Carmona, Juan Arellano Para, Moses Valdez, David Brend, and Marco A. Ruiz Ochoa — solicited funds from...

Stably – a stablecoin-as-a-service provider and fiat to crypto on-ramp – has launched the first-ever dollar-pegged stablecoin issued directly on the Bitcoin blockchain.  The token, Stably USD ($USD) is based on the emerging BRC-20 token standard around which many Bitcoin-based memecoins popularized earlier this month.  Stably USD and the Meme Economy Per a tweet from Stably on Thursday, Stably USD is redeemable 1 to 1 for USD collateral managed by its custodian, Prime Trust,...

Should bitcoin start resembling more the price performance as well as the investment structure of gold, its price could skyrocket to $45,000, according to a note by JPMorgan’s analysts. However, the multinational investment bank believes there’s a big catch. Bitcoin’s YTD performance has been rather impressive, as the asset entered 2023 at under $17,000 following a turbulent 2022. However, it broke above that level in the first few weeks of the new year and skyrocketed to...

It appears that the DeFi industry continues to be a prime target for hackers. On the morning of May 28th, another exploit took place, this time taking aim at liquidity platform Jimbos Protocol. Jimbos Protocol got exploited today – May 28th. According to an update by PeckShield, the hack resulted in a loss of around 4,000 ETH, worth some $7.5 million at the time of the incident. Per PeckShield: This hack is due to the lack of slippage control of liquidity-shifting operation –...

China seems to be opening up to some parts of the industry. Despite its hard stance on trading and owning cryptocurrencies like Bitcoin and Ethereum, the country is pushing for the development of Web3. During the parallel forum of the 2023 Zhongguancun Forum called Web3: Future Internet Industry Development, the Beijing Municipal Science and Technology Commission, alongside the Zhongguancun Science and Technology Park Management Committee, released a joint paper called...

Floridian programmer and an early Bitcoin miner named Laszlo Hanyecz’s purchase of two pizzas with Bitcoin in 2010 has been etched into history, marking a pivotal moment for cryptocurrency. Since then, Bitcoin Pizza Day is celebrated every year on May 22nd. However, scammers are lurking even on that day. In light of this historic event, several malicious entities have sprung up in action to dupe unsuspecting investors. Considering the current risk appetite of investors for...

A good number of high-profile attacks on the crypto ecosystem took place last year, targeting everything and everyone from Phantom wallets to smart contracts themselves. A common choice of target was cross-chain bridges, which allowed hackers to make off with serious bounties, most notably in the case of Harmony. Sharp Decrease in Attacks However, times seem to be changing, according to a new report from cybersecurity researchers at TRMLabs. According to the paper, the total...

The United States Federal Bureau of Investigation (FBI) issued a warning on fake job ads that lure people to Southeast Asia, where “victims are held against their will and forced to commit international crypto scams on unsuspecting victims.” These scam mills usually put up ads on social media and lure their victims by promising well-paid jobs. Upon arrival, however, victims have their passports taken and are forced to work by scamming innocent people. Furthermore, if workers...

On-chain analyst and whale tracker Nova has spotted a profitable average trader that became a whale within five months. The said wallet 0x*************121F760e, who has “nailed” every trade since January, has a record of more than 10,000% realized profit. Nova noted that the whale’s success stemmed from good trading strategies, not luck, as they had properly managed every win and loss. From Average Trader to Whale According to Nova’s Twitter thread, the anonymous trader...