Tag Archives: AA News

The British Columbia Securities Commission (BCSC) has determined that the cryptocurrency trading platform ezBtc and its founder, David Smillie, defrauded investors of approximately $9.5 million, equivalent to 13 million Canadian dollars, in crypto assets. The BCSC’s investigation uncovered that ezBtc and Smillie engaged in misleading and deceptive practices, misappropriating funds intended for customer accounts. Crypto Funds Diverted for Gambling According to the official...

The U.S. Securities and Exchange Commission (SEC) has filed charges against NovaTech Ltd. and its principals, Cynthia and Eddy Petion, for allegedly organizing a crypto fraud that defrauded over 200,000 investors worldwide, including many within the Haitian-American community. The SEC’s complaint details that NovaTech, under the leadership of the Petions, was promoted as a multi-level marketing (MLM) and crypto asset investment program. $650 Million Crypto Ponzi Scheme...

Blockchain investigator ZachXBT has released information regarding North Korean developers who allegedly stole $1.3 million from a project’s treasury. The theft was carried out when the devs, who had been hired using fake identities, injected malicious code into the system, which allowed the unauthorized transfer of funds. ZachXBT Uncovers Crypto Workers Scheme ZachXBT explained on X that the stolen funds were initially sent to a theft address and bridged from Solana to...

A new financial disclosure has revealed that Trump has millions of dollars invested in crypto – an industry that’s become a clear target of his electoral campaign. Yet despite his many specific appeals to Bitcoin investors, there’s no evidence that the former president holds any BTC himself, as opposed to smaller alternatives. Trump’s Crypto Portfolio According to the 2024 disclosure published by Citizens for Ethics, the Republican nominee holds somewhere between $1 million...

According to recent data from Token Terminal, the Tron network has overtaken Ethereum in terms of revenue generation. Over the past 90 days, the blockchain network has accrued approximately $435 million in fees, outpacing Ethereum’s $364 million. Tron’s Revenue Surpasses Ethereum by 50% Tron’s founder, Justin Sun, took to X on August 15 to highlight this achievement, stating that in the last 30 days, Tron’s protocol revenue exceeded Ethereum’s by 50%. In the past 30 days,...

A United Arab Emirates court has recognized cryptocurrencies as a mode of salary payment in a landmark ruling affecting employment contracts. According to a report by Lexology, the ruling by the Dubai Court of First Instance starkly contrasts a decision taken in a similar case and highlights the growing adoption of cryptocurrencies in the UAE. Crypto as Salary Payment The plaintiff sued its former employer for wrongful termination and unpaid wages, seeking compensation and...

Gas fees on the Ethereum network have been declining since March 2024, but last week, they hit a level not seen in the past five years. Data on the crypto analytics platform Dune shows that the median Ethereum gas fee fell below 2 gwei last week for the first time since 2020. Median Ethereum Fees Plummet Since August 3, the median Ethereum gas fee has been falling below 2 gwei. Although the figure has recorded subsequent spikes, those upticks have only been momentary as the...

The Singapore-based cryptocurrency exchange Crypto.com has secured a first-of-its-kind partnership with the Union of European Football Associations (UEFA) Champions League. According to an official announcement, Crypto.com will serve as the official global sponsor of the UEFA Champions League during the multi-year partnership, earning it a spot as the football competition’s first and exclusive crypto platform partner. Crypto.com Partners With UEFA Champions League During the...

Texas-based Bitcoin mining company Core Scientific has announced the pricing of its increased offering of $400 million in 3.00% convertible senior notes due in 2029. The initial size of the offering was $350 million, which has been upsized due to favorable market conditions. Scheduled to settle on August 19, 2024, the notes will be issued privately to qualified institutional buyers. The initial buyers will be granted an option to acquire an additional $60 million in notes....

Bitcoin fell 2.5% on Wednesday to $59.100 after the U.S. government moved more of its Silk Road-affiliated Bitcoin holdings to Coinbase Prime. On-chain analysis platform Arkham Intelligence flagged the move on Wednesday, noting that 10,000 BTC worth $593 million had been moved. “Wallet bc1ql received 10K BTC from a known US Government wallet 2 weeks ago,” Arkham wrote to Twitter. “This BTC has just been sent on to 33J, a Coinbase Prime deposit wallet.” According to Arkham,...