The rising trend of “re-staking” has driven significant cryptocurrency investments into platforms that reward users for locking up their tokens. Leading this movement is Seattle-based startup Eigenlayer, which secured $100 million in funding from Andreessen Horowitz’s crypto arm in February. Eigenlayer has attracted $18.8 billion worth of crypto to its platform from less than $400…
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David Kagel, a disbarred California attorney, pleaded guilty to orchestrating a cryptocurrency Ponzi scheme that defrauded victims of over $9.5 million. Kagel, 85, promised high returns through artificial intelligence trading bots and falsely claimed to hold $11 million in bitcoin to secure investments. He used his attorney position to instill trust, providing fake letters on…
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Global investment bank JPMorgan’s JPM Coin has seen a significant surge in transactions, according to Umar Farooq, head of Onyx by JP Morgan. During a session at the Consensus conference, Farooq stated, “We’ve seen the number of transactions explode by factors of 10, if not hundreds. Fewer larger transactions, lots of smaller transactions.” He noted…
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Cryptocurrency exchange Gemini announced on Wednesday that Earn users have received $2.18 billion of their digital assets in kind, representing 97% of their assets owed and a 232% recovery since Genesis halted withdrawals. This recovery follows a settlement with Genesis and other creditors, ensuring that Earn users will receive 100% of their digital assets back…
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The Texas State Securities Board has issued an Emergency Cease and Desist Order against Arkbit Capital and its affiliates, Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining. These companies were found operating a fraudulent MLM cryptocurrency investment scheme. Promising daily returns of 1.6-2.8% for 120 days on investments between $50 and $49,999, they lured…
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The Crypto ISAC (Information Sharing and Analysis Center) launches on Wednesday as a 501(c)(6) not-for-profit association dedicated to bolstering security within the cryptocurrency ecosystem. Its founding members include Aleo, Circle, Coinbase, Consensys, Evertas, Fireblocks, Hedera, Kraken, Offchain Labs, Red Balloon Security, Ribbit Capital, Solana Foundation, and Trail of Bits. Its mission is to foster collaboration…
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The Bank of Israel has announced the Digital Shekel Challenge, inviting various entities — private companies, public sector organizations, and academic institutions — to participate in the digital shekel’s experimental environment. The initiative aims to foster the development of innovative payment solutions using the digital shekel, leveraging its Application Programming Interfaces (APIs). Participants are expected…
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A federal jury in Salt Lake City convicted Oluwole Adegboruwa and Enrique Isong, foreign nationals, of multiple drug-related charges. From 2016 to 2019, they generated over $8 million in cryptocurrency, including bitcoin and ethereum. Adegboruwa operated under the names “King Odua” and “Alagbada726,” converting cryptocurrencies to traditional currency. Sentencing is scheduled for August. The jury…
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Metaplanet, a publicly traded corporation listed on the Tokyo Stock Exchange, announced on Tuesday that its board of directors passed a resolution to purchase an additional 250 million yen (approximately $1.6 million) worth of bitcoin. For BTC held for long-term purposes, the company explained that it will record them at cost. Meanwhile, short-term holdings will…
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Adam Rozencwajg of Goehring and Rozencwajg, a fundamental research firm specializing in contrarian natural resource investments, forecasts a sustained bull market for gold, driven by increasing geopolitical tensions, central banks’ efforts to de-dollarize, and escalating inflation risks. He predicts that gold prices could reach $5,000 to $7,000 per ounce, supported by unprecedented central bank purchases,…
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