Bitcoin Ordinals Protocol Token ORDI experiences a remarkable surge of 50% in its value following its listing on the cryptocurrency exchange Binance as an emerging project labeled under the “seed” tag. This significant price increase over the past 24 hours has not gone unnoticed by market participants and enthusiasts. It’s essential to note that ORDI,…
As reported by The Block, the United States Department of Justice has initiated legal action to seize over $54 million in cryptocurrency that was acquired through the proceeds of an illicit darknet narcotics operation in New Jersey. In light of these developments, the US Department of Justice has filed a forfeiture case with the objective…
In the dynamic and ever-evolving world of cryptocurrencies, recent developments have thrust USD Coin (USDC), the second-largest stablecoin in the market, into the spotlight. What’s caught the attention of industry observers is a notable contraction in the supply of USDC, a phenomenon that hasn’t been witnessed since 2021. This decline in USDC’s circulating supply can…
The story unfolds as we delve into the depths of FTX and its founder, Sam Bankman-Fried (SBF). Convicted of fraud and conspiracy charges, the disgraced SBF finds himself at the center of attention once more, this time concerning FTX’s political contributions. In the aftermath of the recent criminal trial, where SBF was found guilty of…
The FTX founder will testify after the defense presents three witnesses, his lead attorney, Mark Cohen of Cohen & Gresser, told the court. FTX founder Sam Bankman-Fried will testify during his criminal trial, hoping to convince a jury that he is not guilty of seven fraud and conspiracy charges, his defense lawyers said during a teleconference…
Coinbase argues in a new filing that the Securities and Exchange Commission is attempting to control all investment activity and define its own regulatory ambit. Coinbase (COIN) has filed a response to the Securities and Exchange (SEC) to get an enforcement action against the exchange dismissed, arguing that the tokens don’t necessarily represent the definition…
In a notable bipartisan move, Senators Thom Tillis and John Hickenlooper have presented the Proving Reserves of Others Funds (PROOF) Act, a legislative endeavor to bolster the security and integrity of the cryptocurrency industry. The bill responds to concerns stemming from incidents like the FTX collapse, aiming to prevent unethical mingling of customer funds and…
A bipartisan group of lawmakers is urgently calling upon the Biden administration to take swift action against the use of Bitcoin and other cryptocurrencies by Hamas and its associated entities. In a letter sent on Tuesday to both the US Treasury Department and the White House, led by Senators Elizabeth Warren, Roger Marshall, and Representative…
In a recent legal tussle, Binance, a prominent digital asset exchange, contends that the United States Commodity Futures Trading Commission (CFTC) is endeavoring to apply its regulations on a global scale. The largest cryptocurrency exchange by trading volume argues in a court filing that the US regulator is attempting to oversee foreign companies that haven’t…
Despite the heightened regulatory scrutiny on the cryptocurrency industry, it appears that the U.S. government has a significant interest in crypto assets. The federal government is in a unique love-hate relationship with cryptocurrencies, as it currently holds more than 200,000 Bitcoins, valued at over $5 billion. This makes the United States arguably the largest holder…