Crypto News
China Explains How It Convicted Crypto ‘OTC King’ Zhao Dong
China revealed details behind the conviction of influential crypto over-the-counter (OTC) trader Zhao Dong, known as the “OTC King.” The OTC King, who is the founder of crypto trading desk RenrenBit, received a 7-year prison sentence for illegal foreign exchange and crypto business operations. The case underscores China’s ongoing crackdown on cryptocurrency trading, even when......
Bitcoin ETF Approval: Report Shows Risks of a ‘Sell-the-News’ Scenario
Bitcoin prices could face downside pressure if the U.S. Securities Exchange Commission (SEC) approves a spot Bitcoin exchange-traded fund (ETF), according to a new report by on-chain data firm CryptoQuant. In the report, CryptoQuant analysts warned that the long-awaited spot bitcoin ETF approval could end up becoming a “sell the news” event, with Bitcoin prices......
Worldcoin Expands To Singapore Following Halt In India
Sam Altman's Worldcoin continues to expand access to its iris-based identification system, "World ID." According to the details from a recent announcement, the team launched biometric verification services this month in Singapore while adding locations across Asia, Europe, and South America. World ID biometric signups launch in Singapore. New Orb locations are spread across Germany......
MicroStrategy Buys 14,620 Bitcoin (BTC) For $615,700,000
Business intelligence firm MicroStrategy announced the purchase of over 14,620 Bitcoin on December 26th, worth $615.7 million. As revealed by the company's former CEO and Bitcoin evangelist Michael Saylor via X on Wednesday, MicroStrategy paid an average of $42,110 for its latest crypto haul accumulated. MicroStrategy buys 14,620 more bitcoins for $615.7 million. Adds to......
Cathie Wood Bullish on Bitcoin ETF Approval, Says BTC Will Replace Gold
Ark Invest CEO Cathie Wood expressed confidence that U.S. regulators will finally approve a spot Bitcoin exchange-traded fund (ETF) in the coming weeks. The move would enable Wall Street to tap into crypto exposure like never before. It could also help drive prices substantially higher, according to the star stockpicker. Wood is "very encouraged" by......
Thunder Terminal States No Wallets Were Compromised After 86.5 ETH Hack; Hacker Claims ‘All Lies’
On-chain trading platform Thunder Terminal suffered an exploit resulting in at least $100,000 worth of stolen Ethereum and Solana. The breach enabled bad actors to hijack user session tokens and initiate unauthorized withdrawals. Hackers access Thunder MongoDB and steal session tokens. Fake ETH and SOL withdrawals initiated; $100K+ lost. Promises refunds, 2FA, and legal action......
TEL Token Dips 30% Following $1.3M Exploit; Telcoin Commits to Wallet Restoration
The Monetary Authority of Singapore-regulated payment institution Telcoin suffered a security exploit this week. The exploit resulted in over $1.3 million worth of crypto assets being drained from its Polygon-based wallet application. The breach triggered a temporary freeze of the app by the team. The native TEL token also plunged over 32% in price. Telcoin......
Tim Draper Predicts When Bitcoin Will Hit $250,000
Venture capitalist and longtime Bitcoin bull Tim Draper reiterated his forecast for Bitcoin to hit $250,000 in 2024. Draper maintains that this price target will likely arrive soon and spur further exponential growth as adoption expands. Draper says he stands by the $250K BTC price forecast for 2024. Sees mass adoption driving prices to "go......
Mt. Gox Creditors Report Receiving Payouts for 2014 Bitcoin Hack; Some Receive Double
Almost a decade after the largest cryptocurrency hack in history, creditors of the defunct Mt. Gox exchange are finally seeing the first reimbursements. The exchange witnessed the theft of approximately 800,000 Bitcoin now worth over $34 billion. Mt. Gox creditors receive payouts following the 2014 BTC hack. Over $34 billion was stolen from the exchange.......
SEC Apologizes to Judge For ‘Shortfalls’ in DEBT Box Case
Attorneys from the Securities and Exchange Commission (SEC) formally apologized for their admitted shortfalls in seeking an asset freeze against crypto firm DEBT Box. The confession comes after a Utah judge rebuked the agency for "materially false" statements undermining case integrity. SEC lawyers apologize for misstatements in the DEBT Box case. Made "false representations" on......
Paxos Gains Approval to Bring Regulated Stablecoin to Solana
Stablecoin issuer Paxos has received regulatory approval to expand its dollar-pegged token, USDP, to the Solana blockchain. The move is set to launch on January 17, 2024, according to the details shared exclusively with Fortune. Paxos gains NY approval to launch the USDP stablecoin on Solana. Seen as a major coup amid the battle with......
Gensler’s Crypto Comments Draw Backlash from Ripple CEO
Securities and Exchange Commission (SEC) Chairman Gary Gensler sparked controversy this week over his video about the crypto industry. Gensler claimed in the video that widespread noncompliance in the crypto realm is undermining market integrity and confidence. The SEC chair's comment provoked backlash from leading crypto figures, who accused Gensler of hypocrisy and failing to......
Wallet Drainer Loots $58,000,000 Using Google and X: Report
A “wallet drainer” has been linked to extensive crypto theft, totaling $58 million stolen from over 63,210 victims over the past nine months. The phishing kit was first detected in March 2023 and has shown up repeatedly in phishing ads on Google search and X ads using clever tactics to bypass ad platform safeguards. Wallet......
Solana Beats Binance’s BNB, Reclaims 4th Largest Coin Ranking
A strong 18% surge in the price of Solana over the past 24 hours has boosted SOL to the fourth spot by market capitalization. This is the first time it’s done so in over two years. SOL is currently priced at $98.3, up 17.2% on the day, with a market cap of $42 billion, according......
Coinbase Gains French Crypto License Amid U.S. Regulatory Rift
Cryptocurrency exchange Coinbase gained regulatory approval this week to provide digital asset services in France. According to the latest report from CNBC, the exchange has secured a virtual asset service provider (VASP) license from national regulators. The registration comes as the company faces an increasingly fraught oversight battle in its home U.S. market. The contrast......
Circle Gets Conditional Green Light for Crypto Operations in France
Stablecoin issuer Circle announced on Thursday that it has secured conditional registration from France's financial regulator to provide digital asset services in the country. The authorization represents a stepping stone to full licensing once Circle obtains separate electronic money institution approval. It is a part of the firm's broader push for EU-wide oversight. Received conditional......
Worldcoin Halts Signups In These Three Countries: Here’s Why
Sam Altman's Worldcoin quietly suspended its biometric signup program in India, Brazil, and France. The halt happened several months ago after overwhelming demand for free token signups snarled operations in India, multiple sources told Moneycontrol. The shutdown aimed to address surging interest that created crowd control headaches and forced police interventions at Orb locations, according......
YouTube Under Fire For Refusing to Remove Ripple (XRP) Scam
YouTube is facing criticism after allowing a fraudulent Ripple (XRP) giveaway video to remain active for over a month, despite multiple user complaints arguing it violates platform policies. The video promotes a fake Ripple doubler scam, falsely claiming users can double their XRP holdings by sending funds to an associated wallet address. However, when users......
Court Freezes $1 Billion in Assets of Three Arrows Capital Founders
Liquidators have obtained court orders freezing up to $1.14 billion in assets connected to the founders of failed cryptocurrency hedge fund Three Arrows Capital (3AC), according to Bloomberg. The restraint from the British Virgin Islands court aims to recover creditor losses from Three Arrows’ summer implosion during broader crypto market turmoil. The order also prevents......
SEC Meets Grayscale Again on Spot Bitcoin ETF Discussion
The Securities and Exchange Commission (SEC) is ramping up discussions around the hot topic of spot Bitcoin ETFs with its recent meeting with Grayscale. The commission has been meeting separately this week with both BlackRock and Grayscale about prospective proposals. The SEC met with BlackRock and Grayscale this week. Part of 25 total ETF applicant......
