More than $17 million in restitution will be distributed among investors in the pyramid scheme Bitconnect under a court order in the United States. The notorious crypto investment scheme defrauded thousands of people around the world. Bitconnect Investors From Dozens of Countries to Be Paid Back Millions of US Dollars A total of over $17…
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The loss occurred while Alameda Research’s liquidators were attempting to close a borrow position on Aave but instead removed the extra collateral used for the position. The liquidators of Alameda Research continue to encounter obstacles in their efforts to recover funds for creditors. Crypto analytics firm Arkham disclosed on Twitter that the liquidators lost $72,000 worth…
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Bitcoin price is steamrolling above the all-important $20,000 level, leading analysts to speculate on where BTC price might go. After Bitcoin (BTC) hit a yearly high of $21,095 on Jan. 13, where is it headed next? Bitcoin is currently witnessing an uptick in bullish momentum after the positively perceived Consumer Price Index (CPI) report was…
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2023 started on a bullish note for nearly all the top 100 DeFi tokens, as most of them rose to new multi-week highs. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The DeFi ecosystem started 2023 on…
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A Belarusian citizen will have to pay a hefty fine for illegally organizing the exchange of cryptocurrencies online. Law enforcement authorities in the country, where certain crypto activities are legal, do not plan to impose other penalties besides the administrative measure. Cryptocurrency Trader Tries to Challenge Fine in Belarusian Court The Supreme Court of the…
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Tyler Winklevoss hit back at the SEC charging Gemini, calling the action “totally counterproductive” in a series of tweets. Tyler Winklevoss, the co-founder of cryptocurrency exchange Gemini, has hit out at the regulator charging the exchange over issuing unregistered securities, calling the allegations “super lame” and a “manufactured parking ticket.” In a series of tweets…
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A federal bankruptcy court in the U.S. has ended the FTX naming-rights agreement for Miami Heat’s basketball stadium. The sports venue was branded FTX Arena as part of a multi-year, multi-million dollar sponsorship deal between the now-bankrupt crypto exchange and Miami-Dade County in 2021. FTX Signage and Advertising to Be Removed From Downtown Miami Sports…
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The latest Bank of International Settlements bulletin looks at ways to mitigate the risks of crypto assets and suggests traditional finance could get its house in better order too. Economists at the Bank of International Settlements (BIS) took a look at the risks inherent in the crypto ecosystem and came up with a seemingly novel…
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The agency overseeing the financial sector in Germany has issued a warning about the ‘Godfather’ malware attacking banking and crypto applications. Hundreds of these platforms have been targeted, the regulator noted, including those operating in the Bundesrepublik. Financial Authorities Advise Germans How to Protect Their Mobile Apps From Malware The Federal Financial Supervisory Authority of…
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Crypto broker Genesis allegedly owes $900 million to clients of cryptocurrency exchange Gemini. Cryptocurrency broker Genesis Global Trading allegedly owes its creditors more than $3 billion, according to a Jan. 12 report from the Financial Times. Its parent, the Digital Currency Group (DCG), which also owns Grayscale Investments and its series of digital asset trusts,…
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