Crypto News
Do Kwon Wins Second Appeal Against Extradition from Montenegro
Terraform Labs co-founder Do Kwon has won another appeal against the Montenegro High Court's decision to allow his extradition to the United States and South Korea to face charges related to the collapse of the Terra ecosystem. In a new ruling on Thursday, the Montenegro Court of Appeals revoked the High Court's approval of the......
Crypto Firm Bakkt Warns of Financial Struggles, Doubts Continuity In Business
Bakkt Holdings, a cryptocurrency platform launched with great fanfare in 2018 by the parent company of the New York Stock Exchange, warned on Wednesday it may not have enough capital to stay in business. In a regulatory filing, Bakkt said there is doubt over whether its available cash can sustain ongoing operations for the next......
NBA Faces Lawsuit Over Promotion of Collapsed Crypto Firm Voyager
A group of investors slammed the National Basketball Association (NBA) with a lawsuit. According to Bloomberg, the lawsuit is tied to the league's promotional arrangement with collapsed cryptocurrency trading platform Voyager Digital. The suit alleges the NBA acted in a "grossly negligent" fashion by greenlighting a multi-year marketing deal between Voyager and Dallas Mavericks owner......
Crypto Ransomware Payments Exceed $1 Billion in 2023: Report
Ransomware attackers have surged in 2023, extorting over $1 billion in crypto payments from their victims, according to the latest report. In its most recent report, blockchain analysis company Chainalysis compiled the findings. The report shows a significant surge from a drop that occurred in 2022. Total crypto ransoms paid plunged to $457 million in......
Ethereum Dencun Upgrade Completes Final Test
The highly anticipated Ethereum Dencun upgrade has passed its final test. This will likely pave the way for the blockchain to launch on the main public network next month. The upgrade was recently put through a full rehearsal on the Holesky test network, designed to mimic conditions on Ethereum's live blockchain. In addition, the successful......
Fed Ends Enforcement Action Against FTX-Linked Farmington Bank
The Fed announced on Tuesday that it has terminated a key enforcement action against Farmington State Bank. Fermington is a Washington-based community bank that was connected to the failed cryptocurrency exchange FTX. The Fed's enforcement action, which had been in effect since July 2023, ensured that Farmington would wind down operations in an orderly manner......
Binance to Delist Monero, XMR Nosedives 30%
Leading cryptocurrency exchange Binance announced recently that it will delist privacy-oriented coin Monero (XMR) on February 20. Binance has become the latest platform to dump the anonymity-focused asset amidst growing global compliance crackdowns. Key details on Binance axing XMR support: As of Feb. 20, Binance will delist all XMR trading pairs with BTC, ETH, and......
Ripple Gearing Up for US Market Entry Despite SEC Lawsuit
Blockchain payments company Ripple has hinted at an upcoming push into the US market that could dramatically expand adoption of its transaction solutions. The announcements come even as a legal battle with securities regulators continues to play out. Key developments stoking anticipation of Ripple's US expansion: Ripple executive say they will announce new product updates......
Solana Restarts After 5 Hours Of Outage, SOL Reacts
The Solana blockchain suffered a major outage recently that prevented transactions and halted block production for nearly five hours before engineers identified and patched a core software issue. Key details on the Solana disruption: The network went dark around 9:53 AM UTC Tuesday and lasted 5 hours. Engineers traced the cause to a software glitch......
SEC Wins Financial Data Access Against Ripple in Ongoing XRP Lawsuit
The Securities and Exchange Commission has bagged a win against Ripple Labs this week, gaining access to confidential corporate information as both sides prepare for the remedies phase of their landmark cryptocurrency case. Key lawsuit updates: The judge orders Ripple to provide financial statements and post-suit XRP contracts. SEC also wins data on institutional token......
Crypto Funds Witness $708,000,000 Inflows; Here’s Why
The latest data reveals investors piled back into crypto investment funds last week. Investors have injected $708 million amidst a prolonged market rebound. The surge brings total year-to-date inflows close to $1.6 billion, according to researcher CoinShares. Key details on the state of crypto investment fund flows: Crypto funds booked $708 million in inflows last......
Ethereum Name Service (ENS) and GoDaddy Collaborate to Link Domains with Crypto Wallets
Ethereum Name Service (ENS), the leading blockchain domain protocol, has partnered with internet domain giant GoDaddy to let owners easily link their sites to crypto wallets. The integration arrives even as a lawsuit between both parties proceeds following the sale of an ENS domain. Key details on ENS and GoDaddy's new tie-up: GoDaddy is adding......
Binance Addresses Privacy Concerns Over Alleged KYC Document Leak
Cryptocurrency exchange Binance moved swiftly to dismiss privacy fears over the weekend after reports surfaced that extensive customer KYC documents were being freely distributed through hacker channels on the dark web and GitHub. The exchange says it investigated but found no evidence that any internal systems were breached. Key details: Crypto sleuths flagged alleged leaks......
SEC Charges Crypto Trader With Defrauding Students of $1.2 Million
The U.S. Securities and Exchange Commission (SEC) charged crypto trader Brian Sewell and his firm Rockwell Capital Management with fraudulently soliciting $1.2 million from students under false pretenses and losing the money to hackers. Key details of the SEC complaint: Sewell allegedly promised students AI-powered crypto hedge fund returns through his "Rockwell Fund." 15 students......
Binance Freezes $4.2M of Ripple Hack Proceeds, Aids Investigation
Cryptocurrency exchange Binance has helped secure over $4.2 million worth of XRP tied to the recent hack of Ripple co-founder Chris Larsen's personal crypto accounts. The exchange also stated they are supporting law enforcement's ongoing investigation. Highlights: Binance CEO says the team has frozen $4.2 million of XRP stolen in the Ripple hack. Hack drained......
Polygon Labs Lays Off 19% of Staff to Focus on Development
Polygon Labs, the core developer behind leading Ethereum scaling solution Polygon, laid off 19% of staff this week. The moves come as part of a restructuring aimed at focusing Polygon Labs on critical network development. Key changes at Polygon Labs: Layoffs impact roughly 60 employees, or about 19% of Polygon Labs staff. Separately spun off......
Binance Struggles to Re-enter UK Crypto Market Amid Regulatory Pushback
Binance, the world's largest cryptocurrency exchange, is facing significant obstacles in its efforts to re-establish operations in the UK market. The struggles are primarily due to continued regulatory reluctance to engage with the platform. Key points: Binance is seeking UK partners for communications under new crypto rules; at least 3 have declined. Rejections come after......
Celsius Exits Bankruptcy, Will Distribute $3 Billion to Creditors
Embattled cryptocurrency lending platform Celsius Network formally emerged from bankruptcy this week. As part of its court-approved resolution, Celsius will distribute over $3 billion to creditors. Additionally, they plan to launch a new Bitcoin mining firm before moving to wind down its remaining operations. Key details on the firm's winding down and exit from bankruptcy:......
FTX Expects Full Repayment to Customers, Scraps Relaunch Plans
The fallout from the shocking implosion of cryptocurrency exchange FTX continues, as lawyers for the bankrupt firm updated proceedings Thursday with promising news for affected users. According to a new court hearing, FTX believes it can make customers whole by repaying account funds lost in the crash. Meanwhile, after failing to find a buyer, plans......
Ripple Co-Founder’s Personal XRP Accounts Hacked for Over $112 Million
Several personal XRP accounts belonging to Ripple co-founder Chris Larsen were hacked recently, resulting in the theft of around $112 million worth of the cryptocurrency. Key details on the Ripple hack: Over 213 million XRP tokens were stolen from Larsen's accounts, currently valued at $112.5 million. The stolen funds were quickly laundered through various exchanges......
