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El Salvador Will Keep Buying 1El Salvador has been buying one bitcoin a day since 2022, according to President Nayib Bukele, who confirmed that his country’s “1 bitcoin a day program” will continue until the... cryptocurrency “becomes unaffordable with fiat currencies.” The bitcoins acquired from El Salvador’s daily purchases are also deposited into the same wallet address used for the […]
Prosecutors urge 40-50 yearsUS prosecutors have requested that a court sentence disgraced crypto mogul Sam Bankman-Fried to between 40 and 50 years imprisonment for massive fraud that cost customers $8 billion, court documents... showed Friday.
El Salvador Moves 'Big Chunk'El Salvador has transferred “a big chunk” of its bitcoin holdings to a cold wallet, President Nayib Bukele has announced. “You can call it our first bitcoin piggy bank,” he... said. As of writing, the wallet’s balance totals approximately 5,690 bitcoins. El Salvador Establishes Its First ‘Bitcoin Piggy Bank’ El Salvador’s President Nayib Bukele announced […]
Judge rules computer scientistJudge says Dr Craig Wright is not Satoshi Nakamoto, the cryptocurrency's mysterious inventor.
El Salvador gained $84M fromEl Salvador’s Bitcoin (BTC) holdings have yielded an unrealized profit of $84 million, with the treasury’s value increasing by 69%…
SEC approves bitcoin ETFs (forThe Securities and Exchange Commission has approved the applications of 11 spot bitcoin ETFs in a highly anticipated decision that will make it much easier for people to dabble in cryptocurrency... investing without directly buying and holding bitcoin. The approval comes one day after a hacker temporarily took over the SEC's X account and posted a rogue tweet saying that bitcoin ETFs had been approved by the regulator. The approval is a significant milestone for crypto investors, who for years have tried to win SEC approval for the investment funds that hold bitcoin. With the approval, 11 such funds will be listed on public stock exchanges. United States financial regulators have long been wary of bitcoin and other cryptocurrencies and in a statement, SEC Chair Gary Gensler wasn't exactly...
How One False Viral Tweet CostA viral tweet caused a huge price movement that burned investors. It was false.
U.S. Drug EnforcementA grifter who scammed more than $50K from the DEA is being searched for by the FBI. That crook intercepted a transfer intended for U.S. Marshals.
Ripple's Chief Legal OfficerRipple Labs’ chief legal officer has broken down Thursday’s ruling on the U.S. Securities and Exchange Commission (SEC) v. Ripple case. Emphasizing that the landmark ruling is “a... huge win” for the crypto firm, he stressed that “as a matter of law – XRP is not a security.” In addition, he noted that crypto sales […]
Ripple Labs Ruling Throws U.S.The only thing this ruling guarantees is continued uncertainty in the cryptocurrency markets - uncertainty only Congress can correct, says Preston Byrne.
Key Bitcoin developer calls onSo much for enthusiasts championing the decentralization of cryptocurrencies.
FTX founder Sam Bankman-FriedThe cryptocurrency entrepreneur Sam Bankman-Fried can post USD 250 million bond and live in his parents' home in California while he awaits trial on charges that he swindled investors and looted... customer deposits on his FTX trading platform, a judge said on Thursday. Assistant US Attorney Nicolas Roos said in US District Court in Manhattan that Bankman-Fried, 30, perpetrated a fraud of epic proportions. Roos proposed strict bail terms, including a USD 250 million bond and house arrest at his parents' home in Palo Alto, California. An important reason for allowing bail was that Bankman-Fried agreed to waive extradition, Roos said. Magistrate Judge Gabriel W. Gorenstein agreed to the bond and also approved the house arrest proposal. He also said Bankman-Fried would be required to get an...
Sam Bankman-Fried, ex-CEO ofUS authorities say former CEO of failed crypto firm FTX Sam Bankman-Fried has been arrested in Bahamas at US request.
'FTX Accounts Drainer' NowThe exploiter responsible for siphoning millions of dollars in ERC20 tokens and ethereum from FTX has added more ether to the entity’s holdings. The wallet is now situated in the top 30 largest... wallet positions in terms of ethereum holdings. The address dubbed the “FTX Accounts Drainer” now holds 250,735 ethereum on Saturday, Nov. 19, […]
Binance will not pursue the deal for its smaller rival citing reports of 'mishandled customer funds'.
US justice department seizesA search of James Zhong's Georgia home uncovered 50,000 bitcoins found on a circuit board in the bottom of a popcorn tin The United States is seeking the forfeiture of more than $1bn in bitcoin stolen... from the Silk Road online marketplace, federal prosecutors in Manhattan said on Monday. In the second largest seizure in US Department of Justice history, Internal Revenue Service (IRS) agents obtained the 50,000 bitcoins during a November 2021 search of the defendant James Zhong's home in Gainesville, Georgia.
But the North Korean criminals are still over half a billion digicash dollars up Federal investigators and private companies seized $30 million in cryptocurrency stolen in March by North Korean-linked... APT gang Lazarus Group from a video game developer, the latest example of the growing skills of government and cybersecurity experts to track and recover such ill-gotten gains....
Dutch arrest man linked toDutch financial prosecutors say they detained a man suspected of involvement in "concealing criminal financial flows and facilitating money laundering" through the virtual currency mixer Tornado Cash.
U.S. Sanctions VirtualThe U.S. Treasury Department on Monday placed sanctions against crypto mixing service Tornado Cash, citing its use by the North Korea-backed Lazarus Group in the high-profile hacks of Ethereum bridges... to launder and cash out the ill-gotten money. Tornado Cash, which allows users to move cryptocurrency assets between accounts by obfuscating their origin and destination, is estimated to have been
Electricity used to mineConsumption down by third since 11 June, with even sharper falls among other cryptocurrency networks The amount of electricity consumed by the largest cryptocurrency networks has decreased by up to... 50% as the "crypto winter" continues to eat at the incomes of "miners" and financial contagion spreads further throughout the sector. The electricity consumption of the bitcoin network has fallen by a third from its high of 11 June, down to an annualised 131 terawatt-hours a year, according to estimates from the crypto analyst Digiconomist. That still equates to the annual consumption of Argentina, with a single conventional bitcoin transaction using the same amount of electricity that a typical US household would use over 50 days.
Elon Musk says he never toldWith the entire cryptocurrency market currently tanking and major crypto firms becoming insolvent, one would think Elon Musk might reflect on some of his recent statements with a little... contrition.After all, Musk is a big proponent of cryptocurrency, right? "I have never said that people should invest in crypto," Elon Musk told the crowd during his virtual appearance at the Qatar Economic Forum after he was asked about the present state of cryptocurrency. Tweet may have been deleted (opens in a new tab) Musk continued. "In the case of Tesla, SpaceX, myself, we all did buy some Bitcoin, but it’s a small percentage of our total cash assets," he said. This appears to be true, technically. Musk does not seem to have ever uttered the words "people should invest in crypto" or any sort of...
El Salvador has embraced Bitcoin like no other country, with the government purchasing hundreds of coins last year as it announced that the cryptocurrency would become legal tender.
'Crypto muggings': thieves inExclusive: Thousands of pounds stolen in cases seen by the Guardian in reports from City of London police Thieves are targeting digital currency investors on the street in a wave of "crypto muggings",... police have warned, with victims reporting that thousands of pounds have been stolen after their mobile phones were seized. Anonymised crime reports provided to the Guardian by City of London police, as part of a freedom of information request, reveal criminals are combining physical muscle with digital knowhow to part people from their cryptocurrency.
Biden's New Executive Order OnBrett Harrison, President of FTX.US, said, "Some amount of regulation is important to allow institutions to come in and feel confident in being able to put their money into this emerging space like... cryptocurrency."
Crypto.com Finally Admits ItPlus: Scammer arrests, the NSA plays defense, and more of the week's top security news.