“Either Galaxy owes BitGo a $100 million termination fee as promised or it has been acting in bad faith and faces damages of that much or more,” said R. Brian Timmons. Digital asset custodian BitGo said it planned to seek more than $100 million in damages from Galaxy Digital, alleging the investment firm owed the…
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U.S. Treasury links the crypto mixer with $7 billion worth of laundered money. Summer is still on, harvesting the fresh names for its list of the crypto companies in deep trouble. This time, the trouble came not from the market or management but from the United States Treasury Department. The regulator has added more than…
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“By treating autonomous code as a ‘person’ OFAC exceeds its statutory authority,” said Coin Center’s Jerry Brito and Peter Van Valkenburgh. United States-based crypto policy advocacy group Coin Center said it intended to “pursue administrative relief” for individuals affected by Tornado Cash sanctions imposed by the Treasury Department’s Office of Foreign Asset Control, or OFAC.…
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The U.S. Federal Reserve Board has finalized tiered guidelines for granting Federal Reserve accounts, with Wyoming’s crypto banks likely to fall under the most scrutiny. The United States Federal Reserve Board announced Monday that it had finalized its guidelines for the factors reserve banks are to consider when reviewing requests for Federal Reserve accounts and…
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Shiba inu remained close to a three-month high to start the week, after breaking out of a key resistance level over the weekend. The surge of the meme coin came despite the crypto market mostly being in the red on Monday. Another token that rose during today’s bearish session was unus sed leo, which hit…
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The economist and gold bug Peter Schiff usually has a lot to say, and this past week Schiff explained during an interview that he believes the U.S. will face a financial crisis worse than 2008’s ‘Great Recession.’ Schiff explains that the U.S. has a lot more debt than it did back then, and insists America’s…
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Following the U.S. government prohibiting the use of the ethereum mixing service Tornado Cash, the crypto economy’s top privacy coins lost more than 8% in USD value the following evening after the ban announcement. The top privacy coins like monero and zcash managed to recover the losses two days later, but during the last 24…
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.bit (did.id) has raised $13 million to build a cross-chain decentralized identity protocol. The Series A round, completed one year after the startup’s launch, was from CMB International, HashKey Capital, QingSong Fund, GSR Ventures, GGV Capital, and SNZ. .bit’s open-source blockchain protocol will provide permissionless decentralized identification for individual users and DAOs. Over the past…
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The sum total of illegal kimchi premium trading conducted via South Korean banks could be as high as USD 6.5 billion, regulators claim – and authorities in the nation say they are now investigating “all” domestic commercial banks over the matter…. Read More: Kimchi Premium Trading Total Could Be Almost Twice as High as First…
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A newly released report from the troubled crypto lender Celsius (CEL) shows that the company is short on its crypto obligations to customers by around USD 2.8bn. According to the report, Celsius has a net coin position of negative USD 2.845bn, split between coins such as bitcoin (BTC), ethereum (ETH), USD coin (USDC), CEL, and…
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