Tag Archives: AA News

A U.S. court has given troubled cryptocurrency exchange Bittrex Inc. permission to borrow $7 million worth of bitcoin (BTC) to fund the start of its Chapter 11 bankruptcy case. According to a Reuters report, Bankruptcy Judge Brendan Shannon approved the exchange’s request on an interim basis at a Wednesday court hearing in Wilmington, Delaware. Bittrex to Borrow $7M in BTC for Bankruptcy Recall that Bittrex Inc. filed for bankruptcy protection on Monday, intending to return...

Binance is rolling out a new platform that seeks to connect institutional investors with crypto investment fund managers. At launch, the new platform, dubbed ‘Capital Connect,’ will be available to Binance VIP-level users including asset and fund managers, brokers, hedge funds, family offices and high net-worth individuals, liquidity providers, and corporations. Binance’s Free Service for VIP Clients According to the official blog post, the service will be free for all...

Two committees in the US House of Representatives held the first-ever joint hearing related to crypto on Wednesday, seeking to carve a path forward to legislation on digital assets.  The early stages of the hearing proved combative, with certain Democrats questioning whether crypto-specific legislation should be signed at all.  A Focus On Making Law The hearing, held by the House Financial Services Committee (HFSC) and the House Agriculture Committee, was titled “The Future...

Su Zhu, the co-founder of the now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC), has obtained a restraining order from a Singaporean court against Arthur Hayes, the co-founder and former CEO of crypto exchange BitMEX. According to a court document seen by CoinDesk, the restraining order prohibits Hayes from using any insulting or abusive communication that would cause Zhu alarm, harassment, or distress. Hayes Restrained From Abusing Zhu In the past few months,...

Joseph James O’Connor, a 23-year-old British citizen extradited from Spain to the United States on April 26, pleaded guilty to multiple charges, including hacking the social media platform Twitter in 2020. O’Connor, who also uses the online name PlugwalkJoe, has been charged with stealing cryptocurrencies worth $794,000 from a Manhattan-based company through a SIM Swap attack. U.S. prosecutors said O’Connor would forfeit the funds and pay his victims restitution. Besides,...

The crypto analytics platform – Santiment – indicated that the amount of bitcoin held on digital asset exchanges has recently plummeted below 6%. The last time the figures were that low was in December 2017. The decreased trust in centralized platforms intensified shortly after the fallout of FTX (one of the leaders in its field prior to its bankruptcy). Binance has also seen a rise in bitcoin outflows during the past several months, signaling that many users prefer to rely...

U.S. President Joe Biden is advocating for an end to tax loopholes that benefit what he described as “wealthy crypto investors.” In a Twitter post late Tuesday, Biden shared an infographic that read: “We think Congress should cut tax loopholes that help wealthy crypto investors.” According to the post, these loopholes have cost the government around $18 billion in revenue. In his tweet, the president mentioned “MAGA House Republicans” as opposers of his tax plans. Biden...

For some, the Ordinals craze has wreaked havoc in the Bitcoin ecosystem. BTC’s price may have, so far, failed to capitalize on it, but that was not the case for the network miners. In fact, the development has been a blessing in disguise for them. Bitcoin Miner Revenue Shoots Up This month was marked by skyrocketing transaction fees and network congestion as Bitcoin Ordinals reached unprecedented heights. While Bitcoin’s price is cautiously recovering with modest gains, the...

Memecoins are hardwired into Internet culture, and crypto was not spared. From Dogecoin and Shiba Inu (SHIB) to the latest craze surrounding the popular PEPE coin, the industry has long been involved with them. Now, the PEPE coin mania is also spreading across other protocols, and Bitcoin seems to be well under the radar. But it’s not exactly what you may think. Ordinals Wallet is a veteran wallet that supports the so-called NFTs on Bitcoin – Ordinals. While called NFTs, they...

After pleading guilty earlier this year, former Coinbase Product Manager Ishan Wahi has been sentenced to 2 years in prison in a landmark case for insider trading with cryptocurrencies.  The sentence exceeds the 10-month prison sentence of Ishan’s brother – Nikhil Wahi – with whom he conspired for the crime.  Two Years for Crypto Insider Trading According to a report from Reuters, Ishan Wahi was sentenced by U.S. District Judge Loretta Preska in a Manhattan Federal court on...