Crypto News
MicroStrategy Now Holds 226,500 Bitcoin: Introduces New BTC Yield Metric
MicroStrategy has released its financial results for the second quarter of 2024. The business intelligence firm has highlighted major developments in its Bitcoin strategy and overall financial performance. Key points: Bitcoin holdings increased to 226,500, with a market value 70% above the cost basis. Introduction of a new "BTC Yield" metric, targeting 4-8% annual growth......
Montenegro Court Denies U.S. Extradition Request for Terraform Labs’ Do Kwon
The Appellate Court of Montenegro has confirmed a previous ruling to extradite Do Kwon to South Korea. According to the press release by the Court of Appeal of Montenegro, the court has rejected the United States' request. Key points: The Appellate Court backed the High Court of Podgorica's earlier judgment. South Korea's extradition request was......
Bank of England Cuts Interest Rates for the First Time in 4 Years
While the US Federal Reserve kept its interest rates unchanged this time, the Bank of England has announced its first rate cut in four years. This brings the key rate to 5% after the 0.25% cut. UK policymakers also voted 5-4 in favor of the rate cut. Key points: The Bank of England cuts interest......
Federal Reserve Leaves Interest Rates Unchanged Again
The Federal Reserve has decided to keep its key interest rate unchanged once again. The FED has now maintained its key monetary policy rate steadily at a 23-year high. The much awaited data now reveals that the FED is taking a cautious approach to monetary policy despite recent signs of cooling inflation. This is also......
Tether Discloses $5.2 Billion Profit in First Half of 2024
Stablecoin issuer Tether has released its Q2 2024 attestation report. The report was independently verified by global accounting firm BDO, where the company shared details of its finances in the first half of 2024. Key points: Tether unveils a $5.2 billion profit in the first half of 2024. Group equity soared to nearly $12 billion.......
Mt. Gox Moves Over $2 Billion in Bitcoin, BTC Price Remains Steady
Mt. Gox has begun moving Bitcoin once again after almost a week of inactivity. According to the data from Arkham, the exchange has moved 33,964 BTC to an unknown wallet, "bc1q26." As per the current market price, the value of the moved Bitcoin stands at around $2.2 billion. Key points: Mt. Gox moves 33,964 Bitcoin......
SEC Charges BitClout Founder with $257 Million Crypto Fraud
The U.S. Securities and Exchange Commission (SEC) has filed charges against Nader Al-Naji. Al-Naji is the founder of the social media platform BitClout. The SEC accused Al-Naji of allegedly running a fraudulent cryptocurrency scheme. The regulator also claims that Al-Naji raised over $257 million through illegal sales of the platform's BTCLT tokens. Key allegations from......
Ethereum Remains Most Targeted Chain as Crypto Hackers Steal $572M in Q2
According to the latest report by Immunefi, losses due to crypto hacks and fraudulent activities rose during the second quarter of 2024. As per the data, total losses amount to a staggering $572.7 million in Q2 2024. This figure represents a 112% increase compared to the same period in 2023. Key points: Hacks accounted for......
SEC vs. Binance: Legal Battle Intensifies as Regulator Seeks to Amend Complaint
According to the details from a recent court filing, the SEC has signaled its intention to amend its original complaint against Binance and its founder, Changpeng Zhao. As per the details, the regulator might also drop its charges against Solana (SOL) and Polygon (MATIC) tokens. Key points: SEC plans to file a motion to amend......
Crypto Funds See Muted $254M Inflows, but There’s a Catch
According to the latest report from CoinShares, the crypto sector has seen a muted $254 million inflow of capital even though the market turned bullish. Key points: Total inflows into digital asset investment products reach $20.5 billion year-to-date. The inflows show a mixed picture for various cryptocurrencies. Trading volumes spiked to the highest levels since May.......
HSBC Australia Halts Crypto Exchange Payments Following $171M Scam
According to the latest details that surfaced, HSBC's Australian wing has sent an email to its customers saying that it will begin blocking payments to crypto exchanges. The bank had stated in the mail that it would begin on July 24. As per the report from Finance Magnets, the primary reason for the move is......
Coinbase UK Faces $4.5 Million Fine Over High-Risk Customer Onboarding
UK regulators fined Coinbase's UK arm, CBPL, $4.5 million on Thursday. The penalty is for breaching an agreement that was kept in place to stop high risk customers from joining the exchange. Key points: UK regulators fine Coinbase's UK arm $4.5 million. The violation was on the grounds of breaching an agreement. The voluntary agreement......
Indian Crypto Exchange WazirX Reportedly Hacked: $230M Stolen
The Indian cryptocurrency exchange WazirX has reportedly fallen victim to a hack. According to the details from the security platform Cyvers, multiple suspicious transactions were identified. The suspicious transactions involved their multisig wallet on the Ethereum network. Key points: Indian crypto exchange WazirX reportedly hacked. Cyvers identified multiple suspicious transactions from its multisig wallet. A......
Mt. Gox Creditors Face Unauthorized Login Attempts Amid Bitcoin Repayments
A few Mt. Gox creditors are facing security fears due to multiple login attempts in their accounts. Key points: Multiple Mt. Gox creditors report suspicious login notifications within 24 hours. Creditors fear a potential brute-force attack on the Mt. Gox system. Mt. Gox website was temporarily taken down for maintenance. Mt. Gox creditors have been......
Cardano Co-Founder: Vote for Biden Is a Vote for Death of US Crypto Industry
Cardano co-founder Charles Hoskinson has put out a tweet in response to Vitalik Buterin's thoughts on pro-crypto candidates. Hoskinson's view was quite opposite to that of Vitalik, who released a blog post against choosing your political allegiances based on who is pro-crypto. Key points: Vitalik Buterin released a blog post against choosing pro-crypto political leaders.......
FTX and CFTC Reach Landmark $12.7 Billion Settlement
Troubled crypto exchange FTX has reached an agreement with the U.S. Commodity Futures Trading Commission (CFTC). The duo agreed to shake hands on a $12.7 billion settlement. If the settlement is approved, it could pave the way for the exchange's reorganization and provide a measure of closure for its creditors. Key points: Settlement comprises $8.7......
Mt. Gox Moves Nearly $9 Billion in Bitcoin, BTC Price Reacts
The Mt. Gox cold wallet has begun moving billions in Bitcoin. In the last few hours, the wallet moved bitcoin worth almost $9 billion, according to Arkham data. Key points: Mt. Gox cold wallet transfers 47,229 BTC (approximately $3 billion) to an unknown address. An additional 44,527 BTC ($2.84 billion) moved to another wallet Mt.......
Chainalysis Highlights Rising Usage Of Crypto For Money Laundering
A recent report by blockchain analytics firm Chainalysis sheds light on the growing use of crypto in money laundering operations. Key points: Nearly $100 billion in illicit funds transferred to conversion services since 2019. Record $30 billion in laundered funds identified in 2022 Crypto mixers, cross-chain bridges, and wallet "hops" are common laundering techniques The......
Hong Kong Crypto Scam Bust: Police Seize Nearly 11,000 Counterfeit Banknotes
Hong Kong authorities have uncovered a scam involving millions in crypto and thousands of fake banknotes. Key points: Three suspects were arrested for defrauding a businessman of HK$3.11 million in Tether. Police seized 10,978 counterfeit HK$1,000 notes in a Mong Kok office raid. The fake notes were "training notes" commonly used in mainland Chinese banks.......
Hong Kong Shares List of 7 Suspicious Crypto Exchanges
The Hong Kong Securities and Exchange Commission has released an updated list of crypto exchanges that are operating without a license in the jurisdiction. According to the details shared by the SFC, these firms are believed to be or already have targeted Hong Kong investors. Key points: SFC releases an alert list to crypto investors.......
