Tag Archives: AA News

Gilbert Armenta – the former boyfriend of Ruja Ignatova (more famous as the “Cryptoqueen”) – will reportedly spend five years in jail for participating in the fraudulent cryptocurrency project OneCoin. The Bulgarian-born Ignatova – the Founder of the infamous Ponzi scheme – sits on the FBI’s ten most-wanted list. She was last seen in 2017 in Greece, while some sources hinted she could have been killed. Armenta Gets Five Years, Instead of Seven According to a Bloomberg...

Binance.US refuted an earlier report made by Reuters, which stated that the international exchange allegedly moved $400 million from an account belonging to the American affiliate. In an attempt to clarify the situation, Binance.US said that only executives of the platform had such access to its bank accounts. Binance Purportedly Transferred $400 Million from Binance.US A report released by Reuters on Thursday (Feb. 16, 2023) claimed that bank records and company messages...

The largest creditors of bankrupt cryptocurrency exchange Mt. Gox have chosen a payment option that will allow them to receive a lump sum of their recovery payout in bitcoins rather than fiat. The creditors, now-defunct crypto exchange Bitcoinica and Mt Gox Investment Fund (MGIF), collectively represent about one-fifth of the bankruptcy claims. Gox Biggest Creditors Choose Bitcoin Payment Both entities have opted to receive up to 90% of their claims in BTC during the early...

Bankrupt crypto lender BlockFi has filed a motion to dismiss the bankruptcy case for Emergent Fidelity Technologies, the holding firm owned by Sam Bankman-Fried (SBF), founder and former CEO of FTX. In the motion, filed on Thursday in the United States Bankruptcy Court for the District of Delaware, BlockFi argued that Emergent is not eligible for a bankruptcy case as it has no other assets than 56 million Robinhood shares. BlockFi Seeks to Dismiss Emergent’s Bankruptcy Case...

FTX’s Japanese subsidiary has moved closer to its goal of unlocking its users’ trapped funds.  The bankrupt company told clients on Friday that they can now confirm their balances on the platform, as part of a plan to compensate clients by the end of the month.  A Step Closer to Compensation Besides viewing their balances, users have been notified that they can migrate their assets to the Japanese crypto exchange platform, Liquid. The firm received $120 million from FTX after...

Shortly after legally going after Do Kwon and Terraform Labs, the US Securities and Exchange Commission asserted that the former cashed out 10,000 bitcoin after his brainchild collapsed. Kwon has been on the run ever since the crash last year, reportedly currently hiding in Serbia. As reported by Bloomberg, the latest allegations from the US securities watchdog indicate that Kwon used an unnamed Swiss bank to cash more than $100 million worth of BTC between “June 2022 and the...

The Norwegian police seized nearly 60 million krone ($5.9 million) in cryptocurrencies.  The assets were previously stolen by the notorious North Korean hacking collective – the Lazarus Group – which breached the security of the blockchain-based game Axie Infinity. The Record Seizure Norway’s National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) confiscated almost $6 million worth of digital currencies, a record-high crypto seizure...

CNBC Anchor Joe Kernen pushed back against Berkshire Hathaway Vice Chairman Charlie Munger’s latest tirade against cryptocurrency on Thursday.  Specifically, the anchor called the billionaire’s assessment of Bitcoin while criticizing his lack of knowledge on the subject.  Munger’s Latest Rant On Wednesday, Munger appeared on CNBC’s Squawk Box where Rebecca Quick asked him to steelman the arguments against his anti-crypto position. After a brief pause, Munger refused to do...

Robinhood’s cryptocurrency trading volume hit $3.7 billion last month, a 95% increase compared to December 2022.  Contrary to the good start of the year, the 2022 bear market took its toll on the firm’s crypto revenue. It also dismissed nearly a third of its total headcount. Starting off on the Right Foot The cryptocurrency market made an impressive comeback during the first month of 2023, with most assets significantly increasing their valuation compared to the end of 2022....

Leading cryptocurrency exchange Binance had “gaps” in regulatory compliance in the first few years after its launch in 2017, the company’s Chief Strategy Officer (CSO) Patrick Hillmann told the Wall Street Journal in an interview. Hillmann revealed that Binance had missteps during the implementation of its security measures, such as the Know-Your-Customer (KYC) protocol and the Anti-Money Laundering (AML) rules designed to combat money laundering activities. Binance Admits...