Tag Archives: United States

Two-thirds of the polled American investors, aged between 21 and 42, believe it is impossible to achieve above-average returns relying only on traditional finance. Instead, they see cryptocurrencies as appropriate tools for the job. Numerous previous researches have shown that younger generations are much more inclined toward the digital asset sector than older individuals. At the peak of the bull run in 2021, many youngsters said they would be happy to receive part of their...

Lawyers representing the Official Committee of Unsecured Creditors (UCC) of Voyager Digital have raised objections to sweeping legal immunity being planned for the firm’s senior executives. Last month, the Sam Bankman-Fried (SBF)-led crypto exchange FTX won the bid for Voyager for $1.4 billion, beating Binance in the race. However, the Voyager management has reportedly added immunity from future lawsuits for its top executives as a precondition for the deal to get through. ...

Cryptocurrencies are supposed to be censorship resistant… Cryptocurrency exchanges, not so much. Bittrex found this out the hard way after a record fine imposed by the U.S. regulators. On October 11, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) announced that Bittrex, a Washington-based cryptocurrency exchange, will be fined $53 million for violating multiple securities laws. According to...

The US Department of Justice confiscated 719 bitcoins from the 35-year-old Canadian – Sebastien Vachon-Desjardins – for participating in the NetWalker ransomware attacks. At the time of the seizure, the amount of cryptocurrency equaled nearly $22 million. Prison Time for the Criminal According to a recent announcement, Vachon-Desjardins was involved in a sophisticated type of ransomware known as NetWalker. The malicious software targeted victims all over the globe, including...

The US-based bitcoin miner – Marathon Digital Holdings Inc. – reportedly has exposure of more than $80 million in one of its hosting providers – Compute North. Two weeks ago, the latter joined the list of troubled entities affected by the ongoing crypto winter, filing for a Chapter 11 bankruptcy. Multi-Million Exposure According to a coverage by Bloomberg, the cryptocurrency miner had invested $10 million in convertible preferred stock of Compute North. It had allocated an...

The payroll and job reports from the world’s largest economy were slightly above expectations for September. However, BTC reacted with a sharp price decline, as it typically happens when the US publishes any sort of data lately. Although the numbers for September are below August and the average for 2022, the States added 263,000 new jobs during the month, and the unemployment rate decreased to 3.5%, said the Bureau of Labor Statistics. These figures are slightly above...

In a new report, the Financial Stability Oversight Council (FSOC), a regulatory panel comprising leading financial regulators, identified areas in crypto regulation with: limited oversight of the spot market for tokens that are not securities; opportunities for regulatory arbitrage, or benefit favorable rules; if crypto firms should be allowed to integrate multiple services traditionally offered by intermediaries, such as broker-dealers and clearing houses. More Power to Top...

The alternative asset manager – New York Digital Investment Group (NYDIG) – announced the departure of its CEO Robert Gutmann and its President Yan Zhao. Tejas Shah and Nate Conrad will take their posts, respectively. Changes at the Top The cryptocurrency-focused company revealed that its bitcoin balances hit an all-time high during Q3, up almost 100% YOY. At the same time, NYDIG’s revenue was up by 130% in Q2, followed by another increase in the next quarter. Nevertheless,...

The United States Securities and Exchange Commission (SEC) has accused two companies, their executives, and a supposed international gold trader, of running a fraudulent scheme to boost demand for their digital token. The false promotion of the token netted proceeds of over $36 million for the defendants, the agency said. A Fake $10 Billion Gold Bullion Acquisition According to a lawsuit filed on Friday (September 30, 2022), a Bermudan company called Arbitrade, a Canadian...

The Department of Justice (DOJ) is objecting to a motion by troubled cryptocurrency lender Celsius, seeking to reopen withdrawals for selected customers. Since Celsius halted withdrawals in June, the company has filed for Chapter 11 bankruptcy, while the CEO recently resigned from his position. A United States Trustee for the DOJ, William Harrington, on Friday (September 30, 2022), filed an objection, asking the bankruptcy court to deny Celsius’ motions to reopen withdrawals...