Nibiru Chain, a $100 million HashKey and Kraken Ventures-backed Layer 1 blockchain, has announced two senior hires from Yuga Labs and Starknet Asia as part of its Asia expansion. The project has appointed Yura Nam, an ex-head of StarkNet Asia, and Nicholas Lo, a former APAC Growth Manager at Bored Ape Yacht Club (BAYC) developer Yuga Labs, as Asia Growth ...
Alun Cairns, a Conservative UK Member of Parliament, called on the Financial Conduct Authority (FCA) to reconsider its ban on crypto exchange-traded products (ETPs) for retail investors. In a Politics.co.uk op-ed published Thursday, he raised concerns that the country is falling behind. The UK has so far been cautious about letting people directly buy these products. This puts it at ...
Yaroslav Vasinskyi, a Ukrainian national known as “Rabotnik,” has been handed a prison sentence of 13 years and seven months for his role in ransomware attacks. According to a Wednesday Department of Justice announcement, Vasinskyi conducted over 2,500 ransomware attacks, demanding over $700 million in ransom payments. The sentencing comes in the wake of a high-profile incident involving the hacking of Miami-based software provider ...
Crypto-related phishing attacks have become “rampant” in South Korea, a report has claimed, with a top financial regulator set to act. Per Namdo Ilbo, the Financial Supervisory Service (FSS) will team up with the nation’s biggest crypto exchanges to create promotional materials. The regulator wants to boost public awareness of common crypto scams. Crypto Phishing Attacks ‘Rampant’ – FSS Prepares ...
Two bipartisan U.S. lawmakers, Representatives Drew Ferguson and Wiley Nickel, have proposed the Providing Tax Clarity for Digital Assets Act to address taxation issues related to block rewards earned by crypto miners. The bill aims to clarify the tax treatment of staking rewards, proposing that they should only be taxed at the time of their sale rather than upon acquisition. This ...
Federal prosecutors have launched an investigation into Block, the financial technology company co-founded by Twitter’s Jack Dorsey. The investigation focuses on alleged compliance lapses at its central units, Square and Cash App. Sources with direct knowledge of the matter revealed that discussions with a former employee have undisclosed documents highlighting various shortcomings in compliance practices, as reported by NBC News on ...
Tether Holdings, the issuer of the world’s largest stablecoin, Tether (USDT), has reported a record net profit of $4.52 billion in the first quarter of 2024, marking a significant achievement for the company. According to the report, the substantial profit was primarily attributed to the firm’s financial gains on Bitcoin and gold, totalling $3.52 billion, and an additional $1 billion from ...
Hong Kong’s ZA Bank, a unit of China’s ZhongAn Online P&C Insurance, is reportedly exploring ways to offer virtual asset-related services after new regulations for digital assets launch in June. To establish itself as a crypto hub, Hong Kong implemented a new regulatory framework for crypto exchanges last year. This required all exchanges operating within the city to submit applications ...
The spot Bitcoin exchange-traded funds (ETFs) in the United States have witnessed record net outflows, with BlackRock’s iShares Bitcoin Trust (IBIT) experiencing its first-ever day of outflows. On May 1, BlackRock’s Bitcoin fund saw $36.9 million flow out, according to data from Farside Investors. In addition, nine other Bitcoin ETFs collectively recorded outflows of $526.8 million, with the Hashdex Bitcoin ETF (DEFI) being the only one to report zero ...
The Bitcoin (BTC) price is consolidating in the mid-$57,000s, down roughly 5% on the day, though up around 1.5% or $1,000 from earlier session lows as traders weigh the outlook for Fed rate cuts this year in wake of the latest policy announcement from the US central bank. As anticipated, the Fed left interest rates at multi-decade high levels of ...