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The Paraguayan government is urging lawmakers to pass a bill that would impose up to 10 years in jail for illegal bitcoin miners, in response to the large amounts of electricity theft threatening the state-owned National Electricity Administration (ANDE). The bill includes provisions for Paraguayan police and prosecutors to seize and sell off mining equipment … Read more
Bitcoin is expected to trade within a narrow range this quarter, according to Michael Novogratz, founder of Galaxy Digital Holdings Ltd. “Bitcoin, ethereum and everything else, solana will consolidate,” he said last week, adding that it means BTC will probably trade “somewhere between $55,000 and $75,000 until the next set of circumstances, the next set … Read more
Tether CEO Paolo Ardoino stated that the stablecoin company might put “significant resources” into developing a global peer-to-peer (P2P) financial markets terminal. Ardoino explained that decentralization in the payments area, where humanity is “getting rid” of the monopolistic intermediaries, could also improve the financial markets data industry. This would also allow exchanges to monetize their … Read more
In a significant move against western banks, a St Petersburg court has seized over $763 million of assets from Unicredit, Deutsche Bank, and Commerzbank, following a dispute with a subsidiary of Gazprom. This seizure, one of the largest since Moscow’s invasion of Ukraine, includes $504 million of Unicredit’s assets, equivalent to about 4.5% of its … Read more
The UK government announced this week that the Insolvency Service has secured a winding-up order against cryptocurrency advisory firm Amey Finance Academy Ltd at the High Court. The company, created by Desmond Amey in 2018, claimed to offer investment advice and financial education. However, complaints emerged that consumers lost money, and the Financial Conduct Authority … Read more
Coinbase, the largest US crypto exchange, is planning to tap into Australia’s $600 billion self-managed pension sector, according to a Bloomberg report. The company is developing a service tailored for this sector, aiming to cater to the growing interest in crypto investments among self-managed funds. This move comes amidst a significant increase in crypto holdings … Read more
In his latest social media posts, Daniel Cheung, co-founder of Syncracy Capital, expressed confidence in the strength of solana (SOL) and its potential to reclaim the $200 mark. He also hinted that upcoming upgrades could pave the way for new all-time highs (ATHs). Cheung also shared his bullish outlook on bitcoin (BTC), predicting new ATHs … Read more
The World Bank has announced that it will issue its first CHF digital bond on June 11. This 7-year, CHF 200 million ($219 million) bond is the largest CHF issuance by the World Bank since 2009. It utilizes distributed ledger technology and settles using Swiss Franc wholesale central bank digital currency (CBDC) from the Swiss … Read more
An indictment unsealed in the Central District of California charges two Chinese nationals, Daren Li and Yicheng Zhang, with leading a scheme to launder at least $73 million tied to an international crypto investment scam, often known as “pig butchering.” Li and Zhang allegedly managed a global network that laundered proceeds from fraudulent crypto investments, … Read more
Crypto lender Genesis Global obtained court approval Friday to return approximately $3 billion to its customers as part of its bankruptcy liquidation. U.S. Bankruptcy Judge Sean Lane approved Genesis’ Chapter 11 plan, overruling an objection from its equity owner, Digital Currency Group (DCG), which argued that repayments should be based on January 2023 cryptocurrency values. … Read more
