Tag Archives: AA News

A Guatemalan circular Bitcoin economy known as “Bitcoin Lake” is leveraging Bitcoin ASICs to clean the nearby Lake Atitlán while generating income for the community.  As Bitcoin Lake Founder Patrick Melder explained, the “Kaboom” mining project is repurposing used cooking oil to help mine Bitcoin, rather than pollute the local environment.  Mining Helping the Environment? As Melder told Bitcoin Magazine, the project is a follow-up to prior attempts at cleaning the lake that...

South Korean law enforcement officers have reportedly confiscated around 260 billion won ($183 million) worth of cryptocurrencies from local individuals and businesses in two years as they were not abiding by local taxation laws. Not long ago, the authorities targeted the notorious leader of Terraform Labs – Do Kwon. He was accused of gifting tokens to family members as a way of tax avoidance. The Latest Crypto Seizure in South Korea According to a report by the domestic...

Ethereum’s Merge has done a lot to shift the issuance dynamics of ETH, fulfilling most of what was estimated by analysts and the Ethereum Foundation prior to the transition. However, there are still some nuances that need clarification as to if and when ETH can become deflationary, and its supply would cease to expand. Let’s dive in. Ethereum: Not Quite Deflationary According to ultrasound.money, the amount of ETH in circulation has risen by over 5,990 ETH since the Merge on...

The Commodity Futures Trading Commission (CFTC) has filed an enforcement action lawsuit against Ooki DAO, a crypto margin trading and lending platform for engaging in digital asset margin trading that only CFTC-registered Futures Commission Merchants (FCM) can perform.  Ooki DAO also failed to adhere to customer identification requirements prescribed under the Bank Secrecy Act, the commission further alleged in its lawsuit filed in the U.S. District Court for the Northern...

Coinbase – the largest cryptocurrency exchange in the United States – has been slapped with another multi-million dollar lawsuit.  The company has been accused of patent infringement through several of its services, over which the plaintiff is seeking $350 million in damages.  Another Coinbase Lawsuit Veritaseum Capital LLC filed the lawsuit on Thursday in a Delaware court. The firm claims that Coinbase has infringed a patent awarded to the company’s founder Reggie Middleton...

Some of the tech-savvy youngsters in Lebanon have reportedly shifted their focus toward cryptocurrencies amid the current monetary crash Earlier this week, the government closed all local banks due to ongoing risks for employees and customers. It remains unknown when the financial institutions will re-open, which might be one reason why locals started looking for alternative financial instruments, including digital assets. Crypto to the Rescue The economic situation in...

The US Office of Foreign Assets Control (OFAC) assigned popular crypto tumbler Tornado Cash as an entity on the Specially Designated Nationals (SDN) sanction list last month which triggered an outcry from privacy and free speech advocates. Subsequently, Microsoft-owned GitHub removed its source code as well as terminated the user accounts of three individuals who contributed code to the project. In a recent turn of events, the platform unbanned the coin mixer and contributors...

Compute North, which happens to be the latest casualty of the ongoing crypto rout, has filed for a Chapter 11 bankruptcy in the US Bankruptcy Court for the Southern District of Texas. The filing is pending before the Judge Bankruptcy David R Jones. The company’s CEO, Dave Perrill, also stepped down from his position earlier this month but will continue to remain on the board. Compute North in Trouble Under the terms of the filing, the firm will be able to continue its...

The community members of the Internet of Things (IoT) blockchain network, Helium, has voted for a complete transition to Solana to improve network scalability. The HIP 70 proposal published by the Helium Foundation has been in the works for several months. In August, the foundation detailed the reasons behind the core developers’ inclination to Solana from its own bespoke chain to ramp up Helium in terms of speed, stability, and ability to serve more users. The vote for the...

On Monday, the Securities and Exchange Commission filed a regulatory action against Ian Ballina. The computer engineer and data scientist has appeared prominently on investment programs such as CNBC, Forbes, Business Insider, and Entrepreneur Magazine. SEC Hammers Sparkster Coin for Improper Disclosures The SEC filed the civil complaint in Austin, Texas, over the initial coin offering for the Ethereum-based token Sparkster. The commission alleges improper consumer disclosures...