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A former facilities worker who allegedly set up a secret cryptocurrency mining operation inside a Massachusetts school’s crawl space is due for arrest after missing a scheduled court hearing to answer to charges. Nadeam Nahas was scheduled to be arraigned on Feb. 23 facing charges of vandalizing a school and fraudulent use of electricity, according
The Blockchain Association’s chief legal officer says “it would be absurd” for a United States court to rule that digital assets on private blockchains are securities, following a federal judge’s decision to allow a lawsuit against Dapper Labs’s NBA Top Shot nonfungible tokens (NFTs) to play out. U.S. attorney Jake Chervinsky commented after federal judge
Our weekly roundup of news from East Asia curates the industry’s most important developments. Hong Kong moves bullish On Feb. 20, the Securities and Futures Commission (SFC) of Hong Kong launched a consultation on its proposed regulatory requirements for digital asset trading platforms. The SFC requires the licensing by June of all cryptocurrency exchanges operating
The cryptocurrency exchange Coinbase has announced the deployment of Base, an Ethereum layer two (L2) scaling network, after developers launched the Base testnet on Thursday. The company said it is incubating Base within Coinbase and that the L2 chain will progressively decentralize over time. Coinbase L2 Scaling Platform Aims to Help Scale the Crypto Economy
The United States Securities and Exchange Commission is not the appropriate agency to regulate stablecoins, according to Circle founder and CEO Jeremy Allaire. In an interview with Bloomberg on Feb. 24, the Circle chief executive aired his views on the SEC and its recent moves to clamp down on the crypto industry, including stablecoin issuer Paxos.
Bitcoin’s (BTC) 16% price gain between Feb. 13 and Feb. 16 practically extinguished the bears’ expectation for a monthly options expiry below $21,500. As a result of the abrupt rally, these bearish bets are unlikely to pay off, especially since the expiry occurs on Feb. 24. However, bulls were not counting on the strong price
The original manuscript of Neil Stephenson’s Snow Crash, the book that coined the term “metaverse,” will be auctioned by Sotheby’s, according to a page on its official website. The auction is part of a Feb. 23 series called “Infocalypse” that includes six physical and six digital items related to the famous book. The original manuscript is
The price action of Optimism (OP) and Fantom (FTM) tokens have been quite identical since the last quarter of 2022. The difference is, volatility is slightly higher for OP, which surged 240% year-to-date, compared to the 180% gains seen in FTM. The Fantom Foundation has made several improvements since Q4 2022, which have catalyzed an
Sam Bankman-Fried (SBF), the disgraced co-founder of FTX, faces four more charges after a new indictment was unsealed on Wednesday. The charges include operating an unlicensed money transfer business and conspiring to commit bank fraud. SBF Gets 4 New Charges Tacked Onto His Indictment The former CEO of FTX was originally indicted 72 days ago
The federal judge presiding over the case for former FTX CEO Sam “SBF” Bankman-Fried has ordered a superseding indictment unsealed containing 12 criminal counts. In the indictment filed with the United States District Court for the Southern District of New York on Feb. 22, U.S. Attorney Damian Williams alleges Bankman-Fried’s actions in the matter involving
Cointelegraph Markets Pro is an all-in-one institutional-grade crypto market intelligence platform offering traders of all backgrounds real-time alerts for potential price movements before they occur. The Cointelegraph Markets Pro platform was created with the aim to narrow the divide between institutional and retail investors. Its proprietary tools, like the Newsquakes™ indicator, the VORTECS™ Score and
USD Coin (USDC) issuer Circle plans to increase its workforce by 15–25% in 2023 amid a sea of layoffs across the industry, reported The Wall Street Journal. When a significant chunk of industry-wide firms is laying off staff to mitigate their financial woes, Circle has gone against the tide to hire more people. 41% of all layoffs
Bitcoin (BTC) can hit $10 million per coin or more as it eats 25% of the global wealth, new analysis has concluded. In a blog post released on Feb. 16, fund manager and Bitcoin expert advisor Jesse Myers revealed his own “outrageous” BTC price target. Myers: “Bitcoin could 500x over the coming decades” Bitcoin may
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Bitcoin (BTC) hodlers need to watch the central banks of China and Japan as well as the United States as BTC/USD battles “huge” resistance. That was the opinion of trading firm QCP Capital, which in its latest crypto market research piece, “The Crypto Circular,” warned that Bitcoin faces risks far beyond the Federal Reserve. Bitcoin
Solana Spaces will close down its two Solana (SOL)-themed, community-oriented retail stores in New York City and Miami at the end of the month, as the physical stores didn’t onboard as many users as initially anticipated. Solana Spaces tweeted the news on Feb. 21, sharing a note from founder Vibhu Norby explaining the reasons behind
The founders behind the alleged $340 million “global Ponzi” scheme Forsage have been indicted by a federal grand jury in the District of Oregon. The four Russian founders — Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev and Sergey Maslakov — have been formally accused of having key roles in the scheme that raised approximately $340 million from
Cryptocurrency exchange CoinEx has been sued by the New York Attorney General, Letitia James, alleging the firm falsely represented itself as an exchange due to failing to register as a securities and commodities broker-dealer in the state. A 38-page petition filed by James in the New York Supreme Court on Feb. 22 alleged CoinEx “engaged
Indian Finance Minister Nirmala Sitharaman has stressed the importance of international cooperation in order to regulate the crypto sector. She also confirmed that Indian regulators’ crypto awareness campaign will continue to alert people about the risks of investing in crypto. Indian Finance Minister on Crypto Regulation, Bill, and Awareness Campaign India’s finance minister, Nirmala Sitharaman,