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The exchange confirmed its COO's brief relationship to an alleged money laundering group in a statement on November 13. Taiwan cryptocurrency exchange Bitgin is under investigation by the country's police force for money laundering. According to local news reports early this week, Yuting Zhang, the firm's COO, was arrested by Taiwanese police for his alleged role in the "Eighty-Eight Guild Hall" money laundering incident.  Previously Zhemin Guo and Chengwen Tu, two local businessmen, were accused by police of operating a multi-billion-dollar money laundering scheme by using their foreign exchange offices and crypto exchange accounts to launder proceeds of crime obtained via wire fraud from overseas. Chengwen Tu is also accused of defrauding the country's tax authorities by claiming 300 million New Taiwan Dollar ($9.28 million) in fradulent export tax refunds through overseas sale of video game credits.  Taiwan currently has no official licensing regime for c...

Stefan Thomas, the former chief technology officer at Ripple, has an IronKey hard drive containing 7,002 BTC with only two attempts at guessing a password remaining. A company is petitioning former Ripple chief technology officer Stefan Thomas for a hard drive containing more than 7,000 Bitcoin (BTC) that he has been unable to access for years. In an Oct. 25 open letter, crypto recovery firm Unciphered offered to unlock an IronKey hard drive belonging to Thomas containing 7,002 BTC — roughly $244 million at the time of publication. The former Ripple CTO forgot the information to access the drive , designed to erase its data if an individual enters the incorrect password ten times. So far, the German-born programmer has used eight out of his ten attempts. According to Unciphered, its teams developed a method to crack the hardware and access the BTC keys safely stored for years. Technology magazine Wired reported on Oct. 25 that the company was able to access the data on a similar Iro...

The lawyer representing Ryder Ripps and Jeremy Cahen struggled to convince a panel of judges that Yuga Labs’ case against his clients should be thrown out under California’s anti-SLAPP statute. Nonfungible token (NFT) artist Ryder Ripps’ most recent attempt to dismiss the Bored Ape Yacht Club-related lawsuit against him appears to have fallen on skeptical ears. In an Oct. 17 hearing, three judges from the United States Court of Appeals for the Ninth District appeared largely unpersuaded by the arguments from the attorney representing Ripps and Jeremy Cahen (known by the pseudonym “Pauly” on X), who argued the case should have been dismissed on the grounds of free speech. Ripps and Cahan’s lawyer, WilmerHale partner Thomas Sprankling, argued the knock-off Bored Ape NFTs were sold and distributed in a way that protested the supposedly anti-semitic imagery hidden within the Yuga Labs-created collection. He repeatedly positioned Ripps and Cahan as selling the NFTs as an avant-garde exerc...

Coinbase recorded around $76 billion in spot trading volume, showing a sharp decline compared to the same quarter in 2022. The spot trading volume of Coinbase, one of the largest crypto exchanges in the United States, has dropped by more than half, highlighting a shift in interest in crypto trading.  Citing Analysis from digital asset data provider CCData, mainstream media outlet Bloomberg reported on Oct. 11 that Coinbase registered around $76 billion in spot trading volume . Compared to its quarterly record for the third quarter of 2022, the new data shows a 52% drop in spot trading for Q3 2023. According to the report, the new numbers are the lowest they've ever been since before Coinbase got listed on the Nasdaq Stock Market in 2021, which was also months before the prices of crypto were at their peak. Crypto exchange Coinbase spot trading volume in billions of dollars. Source: Bloomberg Despite the decline in its spot trading volume, the report noted that Coinbase gained...

Over the last decade, Mt. Gox has repeatedly backtracked on plans to reimburse the funds that the crypto exchange had barred its users from withdrawing — effective from Feb 25, 2014. Mt. Gox’s infamous 2014 security breach — that lost 850,000 Bitcoin (BTC) of investors’ funds — resulted in its users embarking on a seemingly never-ending, decade-long pursuit of closure via funds reimbursement. Over the years, Mt. Gox has backtracked on its numerous plans to reimburse the funds that the crypto exchange had barred its users from withdrawing — effective from Feb 25, 2014. Latest notice concerning the change of repayment deadlines. Source: Mtgox.com However, with Mt. Gox postponing its repayment deadlines by one more year, from Oct. 31, 2023, to Oct. 31, 2024, the wait for redressal extends into the 11th year for Mt. Gox investors. Mt. Gox 2014: The year of the largest Bitcoin hack - (Avg. BTC price $420) Days after Mt. Gox lost 850,000 BTC in the February 2014 breach, leaked documents r...

Known as the Hashdex Nasdaq Ethereum ETF, this investment fund is the first filing for futures and spot Ether holdings under the ‘33 Act and is overseen and supervised by Toroso Investments. The Nasdaq stock exchange has submitted an application to the Securities and Exchange Commission (SEC) seeking approval to list an Ethereum Exchange-Traded Fund (ETF) offered by Hashdex, an asset management company. This ETF is designed to include a combination of spot ether holdings and futures contracts in its portfolio and pioneering a new approach to crypto currency investment within the regulatory framework.  Known as the Hashdex Nasdaq Ethereum ETF, this investment fund is the first '33 Act Ethereum futures filing of futures Ethereum under the ‘33 Act and is overseen and supervised by Toroso Investments. Toroso Investments is registered as a commodity pool operator with the Commodity Futures Trading Commission (CFTC) and is also a member of the National Futures Association. The current ...

The New York South District court revoked former FTX CEO Sam Bankman-Fried’s bail on Aug. 11 after an appeal from the prosecution in July citing multiple instances of violation of bail conditions. The United States Attorney’s Office has filed an affirmation of the denial of bail to former FTX CEO Sam “SBF” Bankman-Fried, claiming that he could attempt witness tampering and stating that no release conditions would assure the safety of the witnesses. Prosecutors responded to several claims made in his appeal against the bail revocation , calling it “meritless.” In their response, the prosecutors argued that SBF was found to have twice committed or attempted witness tampering in violation of the court orders. Thus, in light of his continued evasions of his pre-trial release conditions, Bankman-Fried was unlikely to abide by the conditions of release. The first time SBF attempted to contact witnesses came to light in January earlier this year, when the former FTX CEO initiated contact w...

Alex Tapscott told Cointelegraph that bear markets lead to great ideas being formed and new businesses being built. Bear markets often result in investors showing extreme fear in tools that measure the market’s sentiments. However, despite the uncertainties during a crypto winter, some prefer to focus on the opportunities that it can bring.  Alex Tapscott, managing director at Ninepoint Digital Asset Group, told Cointelegraph that the bear market is a time to focus on building. Tapscott highlighted that it's essential to look beyond the market's prices and see the foundations that are being laid. Tapscott explained that: “Crypto winters are always the best time to drill down on these core concepts, do the work and build for the future. The last bear market brought us the NFT revolution, decentralized finance, stablecoins and play-to-earn gaming.” According to the executive, the current bear market will also prepare the groundwork for realizing Web3’s full potential. As an e...

CurateDAO launched an Avalanche-based “curate-to-earn” platform where participants can earn by contributing to databases. With play-to-earn (P2E) gaming rising in 2021 through Axie Infinity (AXS) and an offshoot called move-to-earn (M2E) gaining fame through STEPN (GMT), another variation of the “to-earn” model launches in an attempt to bring Web3 elements to existing Web2 frameworks.  In an announcement, the CurateDAO team told Cointelegraph that they’ve launched a Pinterest-like database platform on the Avalanche (AVAX) blockchain. Similar to other “to-earn” models, users can be rewarded with crypto tokens for performing tasks. In this case, the task given to participants is contributing their curated lists to the project’s database. There are different roles within the project's ecosystem. This includes curators, which will mint and set rules for a database, a scout who will find and contribute content that aligns with the database rules and viewers who participate by looking...

Despite their best efforts, bankruptcy trustees have only managed to recover a fraction of the $160 million ($215 million Canadian) owed to creditors. According to a May 8 post by Miller Thomson, the law firm representing users of the defunct crypto currency exchange QuadrigaCX, interim distribution of funds tied to bankruptcy proceedings will be scheduled "in the coming weeks." Bankruptcy trustee Ernest & Young announced the interim distribution in consultation with estate inspectors. In the near future, the trustee will post a Notice to Affected Users regarding details about the manner and procedure of the distribution. According to Miller Thomson, a small number of affected users are expected to receive a Notice of Disallowance of Claim, which means that the creditor's claim has been revised or disallowed in the bankruptcy process.  "If you received a Notice of Disallowance, you have the right to appeal the decision," Miller Thomson explained, addin...

The recently introduced Tether BTC mining software’s primary aim is to enhance the efficient management of mining capacity, leading to more effective operations. The developers at Tether are in the process of preparing the release of innovative JavaScript libraries. These libraries are specifically created to facilitate the transmission of commands and signals to Bitcoin (BTC) mining hardware, encompassing popular devices like WhatsMiner, AvalonMiner and Antminer. As per a post shared on August 5 by Paolo Ardoino, the chief technology officer (CTO) of Bitfinex and Tether, certain segments of this mining software will be made available on open-source platforms in the future. The recently introduced Tether BTC mining software ’s primary aim is to enhance the efficient management of mining capacity , leading to more effective operations. Ardoino emphasized his role as a core contributor to the architecture of Moria, an orchestration instrument for mining farms. Notably, all the recen...

Lawyers representing SBF have agreed to a gag order preventing him from making comments that could sway his criminal trial but says it should apply to other witnesses too. Former FTX CEO Sam Bankman-Fried has agreed to a “gag order” which will prevent him from making comments to third parties that may interfere with his trial — but argues it should apply to all potential witnesses as well, including current FTX CEO John Ray. The gag order against Sam Bankman-Fried was initially requested on July 20, when the U.S. government accused the FTX founder of attempting to interfere with a fair trial by publicly discrediting former business partner and witness Caroline Ellison in an interview with the  New York Times. In a July 22 letter to United States District Court Judge Lewis A. Kaplan of New York, Bankman-Fried’s lawyers Cohen & Gresser LLP denied the accusations but agreed to accept a gag order as requested. A gag order is a legal order often issued by a court to restrict informa...

The firm allegedly denied having any exposure to troubled sister lending firm Haru Invest before suspending transfers earlier this month. According to a report by local news outlet Digital Asset, South Korean crypto lending firm Delio is currently under invest igation by the country's Financial Services Commission (FSC) as of June 30. The Commission alleges fraud, embezzlement, and breach of trust related to Delio's unilateral decision to suspend users' deposits and withdrawals on June 14.  During an extraordinary investors' meeting on June 17, Jung Sang-ho explained that the firm would resume withdrawals, albeit with no fixed schedule at the time. On June 27, the company began opening withdrawals for a portion of its staking services. "[Delio] will secure as much capital as possible to compensate," Sang-ho said. Delio is currently one of South Korea's largest crypto lenders, holding an estimated $1 billion in Bitcoin (BTC), $200 million in Ether (ETH...

Investment managers WisdomTree and Invesco have filed for spot Bitcoin ETFs, hot on the heels of BlackRock. At least two investment firms have made new filing s for spot Bitcoin exchange-traded funds (ETF) following investment colossus BlackRock’s move to lodge a similar application for its own spot Bitcoin ETF on June 15.  New York-based asset management fund WisdomTree is the most recent investment firm to lodge a new filing for a spot Bitcoin ETF. According to a June 21 filing to the United States Securities and Exchange Commission (SEC), WisdomTree requested that the SEC allow it to list its “WisdomTree Bitcoin Trust” on the Cboe BZX Exchange under the ticker “BTCW.” WisdomTree has filed for spot bitcoin ETF h/t @NateGeraci pic.twitter.com/JwXj8rTs2X — Eric Balchunas (@EricBalchunas) June 20, 2023 WisdomTree has applied for a spot Bitcoin ETF twice before. Its first application was rejected by the SEC in December 2021. It's second application was rejected once again in Oct...

Join us as we discuss the current U.S. debt ceiling crisis and what it means for Bitcoin and the crypto market. In this week’s episode of Market Talks, Cointelegraph welcomes Mike McGlone, senior macro strategist at Bloomberg Intelligence, which delivers in-depth analysis and data sets on industries and companies, government, credit, litigation and economic factors. In today’s discussion with McGlone, we discuss the concerns around the current debt ceiling battle currently taking place in America’s law-making houses. Will the United States default for the first time in its history, or will lawmakers reach an agreement before time runs out? Whatever happens with the debt ceiling, is it a lose-lose situation for Bitcoin, crypto and other risk assets? Especially since the Federal Reserve might pause rate hikes and with inflation tapering off. We ask McGlone to explain why that is. We get McGlone’s views on de-dollarization as some countries reduce their reliance on the U.S. dollar and se...

Prime Minister Han Deok-soo reportedly believes that including cryptocurrency in property registration is the right thing to do. South Korean Prime Minister Han Deok-soo is calling for the disclosure and registration of crypto currency assets by high-ranking public official s, a local news outlet has reported.  In a press conference held at the Sejong Government Complex on May 17, the Prime Minister reportedly emphasized the importance of including crypto assets in the property registration of high-ranking public officials. According to a Google-translated version of the report, Prime Minister Han told reporters that the issue of whether high-ranking officials should include virtual currency in property registration “can be fully discussed and decided in the National Assembly.” According to the report, the Prime Minister shared that "Personally, I think it's right to put it in (in the property registration)." To support his stance, the Prime Minister drew a parallel w...

Many members of the crypto community believe Ledger's latest seed phrase recovery feature is a bad idea. Several crypto community members, including Ledger wallet owners, have taken to social media to express their discontent following the release of Ledger's latest feature. The newly introduced retrieval solution for itshardware crypto wallet s, known as Ledger Recover, aims to offer a safeguard in case users misplace their seed phrase . Exciting update, Ledger has a new product, Ledger Recover, that’s launching soon: https://t.co/nT1VHnnSYz Here’s what Ledger Recover is and what it isn’t, explained by @P3b7_ & in the thread below. pic.twitter.com/RW1w07H6pK — Ledger (@Ledger) May 16, 2023 Ledger Recover is a subscription service that allows users to utilize an additional layer of protection for their private keys. This service employs a technique where the user's seed phrase is divided into three encrypted fragments, each sent to different external entities. Once...

The growth in BRC-20 tokens comes just two months after the creation of the Bitcoin token fungibility protocol. On May 9, the total market capitalization of BRC-20 Bitcoin token s surpassed $1 billion, with a total trading volume of $207.7 million in the past 24 hours. Some of the most notable deployed token s include ordi, nals, VMPX, pepe, and meme, with price variance of between +11% and -55% within the past day. According to analysts at multi-chain wallet BitKeep, the BRC-20 token standard is a novel form of fungible token that "employs Ordinals and Inscriptions to create and manage token contracts, token minting, and token transfers, which are stored on the Bitcoin base chain." Ordinals is a numbering system that assigns a unique number to each satoshi, or one hundred millionth of a Bitcoin (BTC), enabling its tracking and transfer. Meanwhile, the "inscription" process adds a layer of data to each satoshi, allowing users to create unique digital assets on th...

“I’ve been ringing the alarm about the risks that Bitcoin poses to our power grids and climate,” said Senator Warren, agreeing with a New York Times article on the matter. United States Senator Elizabeth Warren blamed the Bitcoin (BTC) mining industry for rising energy prices in American households based on unverified mainstream reporting. However, Crypto Twitter was not ready to let it slide and unanimously decided to clarify the disinformation.  While Senator Warren has predominantly spoken against the crypto ecosystem, the latest dig at Bitcoin Mining comes based on a New York Times article. The report accuses Bitcoin miners of cashing in on electricity and indirectly forcing the public to pay the price. The narrative fit Warren’s perception of the crypto industry as she stated: “I’ve been ringing the alarm about the risks that Bitcoin poses to our power grids and climate. U.S. Environmental Protection Agency and Department of Energy should use their authority to require cryptomine...