Tag Archives: United States

The President of the United States – Joe Biden – will reportedly appoint Lael Brainard (Vice Chair of the Federal Reserve) as his top economic adviser.  The latter is a critic of cryptocurrencies, arguing they could undermine America’s financial stability. On the other hand, she is a proponent of a digital dollar that would be highly centralized and monitored by the authorities. Anti-Crypto Position According to a Bloomberg coverage, President Biden will soon name Lael...

Ishan Wahi, a former product manager at the largest US-based crypto exchange, pleaded guilty to two counts of conspiracy to commit wire fraud. His brother did the same a few months back, receiving a 10-month prison sentence. CryptoPotato reported in July 2022 when the US Department of Justice charged Ishan Wahi, his brother Nikhil, and a third-party (Sameer Ramani) with insider trading for tokens that were about to be listed on Coinbase. According to the authorities, they...

Should the United States consider making XRP the reserve currency of the world and buy its entire holding from the market?  Well, this speculative idea floated by Jimmy Vallee, Managing Director of Valhill Capital, in 2021 is once again doing rounds after he talked about it in a recent interview.  But Ripple Lab’s CTO David Schwartz says he has not even looked at it closely.  Sounds Like a Scam The latest to rubbish Vallee’s speculative buyback theory is Ripple’s CTO, David...

Bitcoin miners located in Texas reportedly suffered severe disruption of their operations due to a blizzard that battered the region. The extreme weather conditions prompted them to switch off their machines to preserve the local power grid.  The Cold Winter in Texas Surprised Crypto Miners As reported by Bloomberg, the ice storm that hit “the Lone Star State” damaged some of the equipment of the domestic bitcoin miners. Electricity consumption surged significantly due to the...

Silvergate, one of many creditors to take huge losses due to FTX going under, was previously forced to lay off 40% of its staff. This hit to its business was compounded by billions of dollars in substantial loans taken out to cover a potential bank run the organization feared might occur after FTX’s collapse. Silvergate in The Hot Seat Although multibillion-dollar loans may seem par for the course of typical banks, the current taken out by Silvergate allegedly amounts to most...

Charlie Munger, the Vice Chairman of Berkshire Hathaway and Warren Buffett’s right-hand man, reiterated his stance against Bitcoin and the entire crypto industry. This time, the American billionaire investor urged the United States government to ban all cryptocurrencies as they are bound to cause more harm than good. Munger Attacks Again In an opinion published on mainstream media, the Wall Street Journal (WSJ), Munger argued that unvetted private companies are issuing...

A New Hampshire district court judge has clarified that a security injunction ruled earlier in the legal battle between the United States Securities and Exchange Commission (SEC) and decentralized content-sharing and publishing platform LBRY applied only to direct sales of the project’s tokens. The ruling came during an appeal hearing on January 30, 2023, settling an agelong debate between the SEC and the crypto community. Judge Clarifies Ruling in LBRY v. SEC Case The court...

Senior United States District Judge William Fremming Nielsen sentenced the 56-year-old American Ronald Craig Ilg to eight years in federal prison. The latter hired hitmen on the Dark Web to kidnap his wife and beat his former colleague, and paid them over $60,000 worth of bitcoin. Maximum Penalty for the Doctor The US Department of Justice (DOJ) announced that Ronald Ilg will serve 96 months in federal prison and will be supervised for three years after his release. He will...

Residents of Murphy, North Carolina, complained that a cryptocurrency miner located in the area causes “insane” noise and negatively impacts the electric grid.  As such, some people have decided to leave the town and settle in another place. ‘It Sounds Like You Are Behind a Jet’ The crypto miner installed by the San Francisco-based company PrimeBlock seems to be a huge problem for some of the 1,600 inhabitants of Murphy, North Carolina. In a recent interview, resident Mike...

The FBI announced the takedown of Hive, a ransomware network with members across multiple states in Europe and North America, in a recent press release. The US agency stated that they had been on the case since at least 2021. Hackers Hacked Despite the efforts of the FBI, the network was tough to crack. However, in July of 2022, law enforcement was able to penetrate the cybercrime group’s control center, gaining access to the decryption keys that were to be given to victims...