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Binance User Base Grew 30% This Year, Expanding Even After U.S. Legal Settlements
28.12.2023
The largest cryptocurrency trading venue added 40 million accounts to 170 million
Student by Day, Crypto Miner by Night: NYU Undergrad’s $6 Million Empire
28.12.2023
Source: AdobeStock / LIGHTFIELD STUDIOS Jerry Yu is a 23-year-old student at New York University. He’s also the majority owner of a Bitcoin (BTC) mining farm in the US, fighting legal battles and various allegations. Yu, a Chinese national and US resident, is what the Chinese call...
Former Binance CEO Changpeng Zhao’s Wealth Surged by $25 Billion Despite Legal Troubles in 2023
27.12.2023
Source: A video screenshot, Youtube/Entrepreneur ME Former Binance CEO Changpeng Zhao has seen his estimated wealth jump by almost $25 billion in 2023 despite his guilty plea to US criminal charges in November, which may result in his imprisonment next year. CZ’s remarkable financial growth...
Bulgarian Prosecutors Drop Charges Against Crypto Lender Nexo — ‘No Evidence of Criminal Activity’
26.12.2023
The prosecutor’s office for Sofia, the capital city of Bulgaria, has dropped criminal proceedings against crypto lender Nexo. “The team of supervising prosecutors came to the conclusion that there was no evidence of committed crimes,” the authorities stated, adding that crypto...
Seychelles-Based Crypto Exchange MEXC Rejects ‘Baseless’ User Asset Freeze Claims
25.12.2023
The Seychelles crypto exchange MEXC has rejected claims it is unilaterally freezing users’ accounts or “wiping” out their profits. The MEXC team said it opposes ongoing attempts to defame its name and may resort to taking legal action. Baseless Claims The Seychelles-based...
XRP Price Prediction: Pushing Past $1 Billion in Trading Volume – What’s in Store for 2024?
25.12.2023
XRP, the native token of Ripple, has resumed its upward movement, rising by over 2% over the past day amidst a whopping $1.19 billion trading volume. The rally comes as the cryptocurrency has shown resilience and has been making headlines over the past year despite the legal challenges. According...
Storm Thwarts Suspected South Korean Crypto Price Fixer’s Flight to China
25.12.2023
Source: Robert Kneschke/Adobe South Korean coast guards – and rough sea weather – appear to have thwarted a high-profile suspected crypto price fixer’s daring effort to flee the country for China. Per Joongang Ilbo, coast guards in South Jeolla Province arrested the man, surnamed Park and nicknamed...
Argentine Foreign Minister: Financial Contracts Can Now Be Denominated in BTC
24.12.2023
According to Argentina’s Foreign Minister, financial contracts can now be denominated in bitcoin or any other medium of exchange that the parties to the contract so choose. In addition, debtors will be obligated to “deliver the corresponding amount of the designated currency, whether...
Report: British Virgin Islands Court Freezes 3AC Assets Worth Over $1 Billion
23.12.2023
A court in the British Virgin Islands has issued an order to freeze assets worth over $1 billion belonging to the founders of the defunct crypto hedge fund Three Arrows Capital. The worldwide freeze order also bars Kelly Chen, the wife of Kyle Davies, from transferring or selling...
Bitcoin Price Prediction: BTC Dips Amid Market Moves and Satoshi Identity Revelations
23.12.2023
In the dynamic world of cryptocurrency, Bitcoin (BTC) has experienced a minor dip, trading at $43,623 with a 0.83% decrease on Saturday. This shift in Bitcoin’s price coincides with a rise in stocks and a decline in the dollar value as the long holiday weekend approaches. Meanwhile, in...
New Argentina President Legalizes All Foreign Currencies For Payment – Including Bitcoin
22.12.2023
Source: Alexey Novikov / Adobe Argentina’s newly elected leader, Javier Miliei, has struck down forced legal tender laws forcing Argentinians to settle debt obligations in specific currencies, enabling use of alternatives like USD and Bitcoin (BTC). The rule comes attached to a sweeping executive...
New York Offers New Virtual Currency Guidance
22.12.2023
On Nov. 15, 2023, the New York Department of Financial Services (NYDFS) issued new standards for virtual currency (coin) listings and delistings. These new regulations apply to Bitlicensees and limited-purpose trust companies and include business model considerations for virtual currency entities...
US Court Finalizes Forfeiture of 69,370 Bitcoin from Silk Road
21.12.2023
Source: DALL·E A U.S. appeals court has completed a legal process finalizing the seizure of 69,370 Bitcoin from the Silk Road, the now defunct dark web marketplace. According to a court filing, the U.S. District Court of Appeals for the Ninth Circuit confirmed the transfer of the Bitcoin to federal...
Judge Kaplan Rejects Bankman-Fried’s Request for Sentencing Delay, Affirms March 2024 Date
21.12.2023
In a recent development in the high-profile case of Sam Bankman-Fried, the founder of the now-defunct crypto exchange FTX, a request for postponement of the sentencing hearing was firmly denied by U.S. District Judge Lewis Kaplan. Bankman-Fried’s legal team had sought a four to six-week...
Bankrupt Crypto Firm FTX Trading Reaches Settlement With Bahamian Subsidiary
19.12.2023
FTX Trading Ltd. and its affiliated debtors have announced a landmark settlement with their Bahamian subsidiary, FTX Digital Markets Ltd., amid ongoing liquidation proceedings. This agreement, pending court approval, promises a novel approach to handling the complex legal challenges stemming from...
Montenegro Court Officially Revokes Extradition Approval For Do Kwon
19.12.2023
Source: Reuters The Appellate Court of Montenegro has accepted an appeal by Do Kwon’s attorneys – revoking the High Court’s decision to extradite the Terraform Labs’ founder to either South Korea or the USA. Therefore, the Appellate Court has annulled the decision of...
Judge Approves Settlement: Binance to Pay $1.5 Billion to CFTC, CZ to Pay $150 Million Fine
19.12.2023
Source: Pixabay In a significant legal development, Judge Manish Shah of the U.S. District Court for the Northern District of Illinois has issued a verdict ordering cryptocurrency exchange Binance and its former CEO, Changpeng “CZ” Zhao, to pay a staggering $2.85 billion to...
Man Fingered in the July 2022 Hack on 2 Decentralized Exchanges Pleads Guilty to Computer Fraud
18.12.2023
U.S. Attorney for the Southern District of New York announced on Dec. 14 that Shakeeb Ahmed, a man accused of hacking two decentralized crypto exchanges, had pleaded guilty to the charge of computer fraud. Ahmed is said to have attempted to cover his tracks by using overseas crypto exchanges...
FTX Legal Fees Amount to $1.3 Million Per Day, Creditors Concerned
18.12.2023
Source: Adobe Bankrupt digital asset exchange, FTX has paid hundreds of millions in legal fees in a few months sparking reactions as creditors seek to recover their losses. Court filings show that over $118 million were billed on the exchange between August and October for professional legal fees...
Ripple Reveals 2024 Crypto Predictions: SEC Crackdown to Continue, Regulation Will Hinder US Crypto Firms
18.12.2023
Ripple has shared several crypto predictions for 2024. The firm’s chief legal officer expects the U.S. Securities and Exchange Commission (SEC) to continue its crackdown on the crypto industry. In addition, he foresees U.S. Congress disagreeing on the best course of action for crypto...