Tag Archives: News

Alexey Pertsev, a Tornado Cash co-creator, was denied bail for the third time. He will spend the rest of the year behind bars as his legal team prepares an appeal against the money laundering charges. He was also denied access to a computer to prepare for his appeal. The court said that offering him that privilege would bypass its security protocols. Moreover, it has previously claimed that approving Pertsev’s request for supervised release would not make sense as he poses a flight risk. A...

A failed assassination attempt on former US President and 2024 presidential nominee Donald Trump has caused Trump-related memecoins to surge in price. Simultaneously, his odds to win this year’s presidential election shot up on the prediction market Polymarket. MAGA (TRUMP), the largest Trump-related memecoin by market cap, rallied up by 30% immediately after the incident. Its price went from $6.31 to $10.36, taking its market cap up by the hundreds of millions, from $293 million to $469...

ImmuneFi’s recent report stated that the Binance-launched BNB Chain has witnessed over $1.6 billion in the previous four years since its launch in 2020. 23% of those losses, or $368 million, occurred due to rug pulls, putting BNB Chain ahead of all other blockchains in terms of rug pulls. For instance, Ethereum has reported $3.6 billion in losses since its inception, while only 4.4%, or $158 million, was attributed to rug pulls. Rug pulls occur when shady developers launch tokens and sell...

The US Securities and Exchanges Commission (SEC) has dropped its investigation into Bitcoin layer 2 Stacks and builder Hiro. This news comes right after the SEC stopped looking into Paxos for securities violations for issuing the Binance USD (BUSD) stablecoin this past week. Many are celebrating these developments as the stringent financial regulator is appearing to let crypto projects breathe and not obstruct innovation through securities violation claims. In a letter to the legal counsel...

Binance faces four tax evasion charges from Nigeria’s Federal Inland Revenue Service (FIRS). A court in Abuja has scheduled its verdict for October 11. Binance’s lawyer in Nigeria, Ayodele Omotilewa, argued on July 12 to have all charges dropped against Binance due to lack of sufficient grounds. They maintained the crypto exchange was not guilty in front of Judge Emeka Nwite. The same judge dropped tax evasion charges against Tigran Gambaryan and Nadeem Anjarwalla, Binance executives...

US Spot BTC ETFs observed the largest net inflows this week on Friday, recording $310.21 million, according to SoSo Value data. It also marks the largest inflows recorded since June 5, as ETF investors began pulling out of their positions due to selling pressure induced by the German government moving tremendous amounts of bitcoin and Mt. Gox repayment anticipation. Despite bitcoin’s price dropping to prices lesser than what was seen last month, investors are returning to ETFs to buy the...

The German governmental agency Federal Criminal Police Office/Bundeskriminalamt (BKA) has moved all its bitcoin holdings, concluding numerous transactions that added selling pressure on the asset. Arkham Intelligence reveals that the BKA-labelled wallet presently holds 0 bitcoins. Arkham’s X account notified users about its final transaction, “The German Government just sent 3846.05 BTC ($223.81M) to Flow Traders and 139Po (likely institutional deposit/OTC service).” It held 50,000 bitcoins...

Coinbase is launching a platform for Web3 users to easily view, manage, and interact with their holdings and DeFi investments, offering a seamless onboarding process and improving user experience. Beyond that, this new app will also make it convenient for users to settle payments, communicate with others involved in transactions, and connect to numerous Web3 use cases. In an announcement, Coinbase introduced the app to the ecosystem, “Today, we’re excited to introduce the new Coinbase Wallet...

The US Securities and Exchange Commission (SEC) has dropped its investigation into Paxos’ alleged securities violation for issuing the BUSD (Binance USD) token. Paxos received a Wells Notice in February 2023 from the regulator, stating its intent to investigate the stablecoin issuer’s role in offering unregistered securities to US investors. Paxos took to X to announce this development, “Paxos prevails in SEC investigation of BUSD stablecoin.” It continued to state it received an...

Popular DeFi platform Compound Finance has been breached by scammers, with its website redirecting users to a phishing link. Compound’s dApp and smart contracts remain unaffected. Hackers are redirecting Compound’s users from its site to a lookalike that gathers sensitive information, potentially providing them access to user funds. ZachXBT warned the platform’s users through a Telegram post, “Compound Finance website seems to be hijacked potentially do not visit the site for the time being....