Crypto News
Dubai Fines 18 Crypto Firms for VARA Regulatory Compliance Failure
Dubai Virtual Asset Regulatory Authority (VARA) announced it has fined 18 crypto companies so far for failing to engage with its licensing process before the November 17th deadline. VARA warned that additional enforcement actions are forthcoming. In the announcement, VARA stated: 18 Virtual Asset Service Providers (VASPs) licensed under the Department of Economy and Tourism......
Three Charged in $10,000,000 Crypto Money Laundering Scheme: DOJ
The US Department of Justice announced charges on Thursday against three individuals—Zhong Shi Gao, Naifeng Xu, and Fei Jiang—for allegedly perpetrating a complex crypto money laundering scheme to defraud banks of over $10 million. The trio allegedly laundered the stolen funds through cryptocurrency exchanges. Federal prosecutors with the US Attorney's Office for the Southern District......
BlackRock Ethereum ETF Filing Prompts Quick ETH Price Reaction
In the latest updates that surfaced in the crypto spot ETF realm, BlackRock officially filed an application with the SEC for a spot Ethereum exchange-traded fund (ETF). The proposed ETF would track the price of Ether under the 'iShares Ethereum Trust' brand. The S-1 filing comes just a week after BlackRock registered the iShares Ethereum......
ZachXBT Suspect Lendora Protocol of Planning Exit Scam, Website Goes Offline
Blockchain sleuth ZachXBT issued a public alert that lending protocol Lendora Protocol appears poised to execute a large-scale exit scam, potentially totaling millions in losses based on suspicious indicators. In a Twitter thread, ZachXBT revealed evidence raising exit scam concerns: $83,000 received by the Lendora team originates from the Kokomo Finance exit scam. Multiple Lendora......
SEC Delays Decisions on Hashdex and Grayscale Crypto ETF Filings, Bitcoin Reacts
The U.S. Securities and Exchange Commission (SEC) has announced delays in making decisions on two crypto ETF applications. The regulatory agency is extending its review period for both Hashdex's proposal to convert its bitcoin futures ETF into a spot bitcoin ETF and Grayscale's application for an ether futures ETF. The delays, announced in SEC filings......
Congress Launches Bipartisan Inquiry into Hamas Crypto Fundraising
A bipartisan group of congressional leaders has embarked on a fact-finding crypto mission regarding recent reports that the Palestinian militant group Hamas has utilized cryptocurrency to raise funds. The inquiry, led by House Financial Services Committee Chairman Patrick McHenry, seeks to gather information to inform potential congressional action on this issue. Chairman McHenry was joined......
Germany’s Commerzbank Receives Crypto Custody License
Commerzbank AG has been granted a crypto asset custody license, making it the first major German full-service bank to receive regulatory approval for comprehensive digital asset services. The Frankfurt-based bank announced receiving the license under the German Banking Act on Wednesday. The license enables Commerzbank to launch institutional-grade custody and additional crypto offerings for clients.......
Cboe Digital To Expand Services with Regulated Margin Futures for Bitcoin and Ethereum
Cboe Digital, the crypto arm of derivatives exchange giant Cboe Global Markets, has unveiled plans to enter into regulated margin trading for Bitcoin and Ethereum futures. The launch, slated for January 11, 2024, will make Cboe the first U.S. trading platform to offer combined spot and leveraged crypto trading with integrated clearing. Cboe Digital aims......
Fake Skype App Caught Stealing User Photos and Crypto Funds
Blockchain security company SlowMist has published a comprehensive analysis discussing a counterfeit Skype application. The fake app secretly uploaded users' images and modified crypto wallet addresses with the intent of pilfering funds. SlowMist investigated after a victim reported stolen assets from downloading a counterfeit Skype app outside official channels. Key findings from their analysis: The......
Poloniex Hacked for Over $125 Million: Justin Sun Promises To Cover Losses
Cryptocurrency exchange Poloniex is looking into what appears to be a major security breach affecting one of its wallets. Large unauthorized outflows indicate substantial user funds were potentially stolen. On-chain analysis by PeckShield Alerts shows suspicious transfers from a Poloniex-tagged hot wallet, identified as Poloniex 4 on Etherscan. Initial estimates suggest over $125 million worth......
MicroStrategy’s Bitcoin Stash Valued at $5,800,000,000: You Won’t Believe the Unrealized Profit
MicroStrategy's Bitcoin holdings have attained immense unrealized profits following the latest BTC price surge. MicroStrategy currently holds around 158,400 Bitcoin worth over $5.8 billion as of press time, according to data tracked by Saylor Tracker. This represents an unrealized profit of approximately $1.07 billion based on MicroStrategy's accumulated investment costs. The unrealized gain equals a......
BlackRock Files For iShares Ethereum ETF Trust in Delaware
Financial giant BlackRock registered an Ethereum trust with Delaware, according to the latest reports that surfaced. This has sparked speculation about an impending SEC application for an ETH ETF. Independent analysts revealed BlackRock's registration of the iShares Ethereum Trust on X (formerly Twitter). Eric Balchunas, senior ETF analyst at Bloomberg, confirmed the news himself. https://twitter.com/EricBalchunas/status/1722632267032613146?s=20......
Tightening Bitcoin Supply: What Glassnode Data Reveals About BTC
As the highly anticipated Bitcoin halving approaches in early 2024 and optimism grows around a spot ETF approval in the US, the excitement and positivity surrounding Bitcoin continues to build. In this context, a crucial question for investors is: what portion of the 21 million Bitcoin supply is actively circulating versus held tightly in reserves?......
Cluster of Bitcoin ETFs Positioned for Potential SEC Approval, Says Analyst
ETF analyst James Seyffart asserts the SEC could approve a swath of bitcoin spot ETFs together in a brief upcoming window. The analysis aligns with his forecast of >90% odds for approval by January 2024. In a recent tweet thread, Seyffart said that a joint approval wave could occur because multiple recent filings faced simultaneous......
Ordinals (ORDI) Soars 88% on Binance Listing with Half a Billion in Trading Volume: Can the Momentum Last?
The price of Ordinals (ORDI) has seen a dramatic 88% surge over the last 24 hours following its listing on the popular crypto exchange Binance. The token's price jumped from a 24-hour low of $7.21 to its current level of $13.78 as of press time, according to CoinMarketCap data. Trading volume for ORDI has spiked......
Binance Releases 12th Proof of Reserve Report – Is It Enough to Restore Trust?
Cryptocurrency exchange Binance has released its twelfth proof of reserve report, providing transparency into its reserves during a period of market instability. The latest report, with a snapshot date of November 1st, 2023, was calculated and verified by independent Chinese journalist Colin Wu. Bitcoin holdings decreased 0.7% from October to 584,659, with reserves 104.22% of......
$1.14M Zombie CryptoPunk Sale Precedes NFT Volume Surge – Simpsons Effect?
A rare zombie CryptoPunk NFT sold for $1.14 million on Monday, sparking speculation that interest in NFTs is rebounding after months of declining sales volume. CryptoPunk #7458 is one of only 88 zombie punks in the collection of 10,000 unique punks. It has three attributes: a shadow beard, a knitted cap, and regular shades. This......
Binance Dominance Tested as Rivals Gain Ground – CEX Report
The centralized cryptocurrency exchange (CEX) landscape has seen some notable shifts over the past year, according to a new market report from blockchain analytics firm 0xScope. While Binance still retains the top spot by a large margin, its market share across key metrics like trading volume has declined, opening opportunities for other exchanges to gain......
DCG Accused of ‘Sham’ Bailout to Prop Up Genesis After 3AC Collapse
A 47-part Twitter/X thread by Genesis creditor Vijay Boyapati alleges Digital Currency Group (DCG) and its CEO Barry Silbert perpetrated fraud to hide massive Genesis losses stemming from Three Arrows Capital's (3AC) implosion. Boyapati argues DCG provided a bogus $1.1 billion promissory note to paper over Genesis' insolvency, misleading creditors and buying time. The scheme......
Fake Ledger App Scams $768K+ in Bitcoin via Microsoft Store
A fake Ledger Live app surfaced on the official Microsoft app store, resulting in over $768,000 being stolen before its removal, according to crypto sleuth ZachXBT. The scam wallet received nearly 17 Bitcoin from victims. The fake Ledger Live app exploited the Microsoft Store's credibility to lend legitimacy to an elaborate phishing scam. The ploy......
