Tag: News

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US Prosecutors Seek 36-Month Sentence for Binance’s Changpeng Zhao Over Legal Violations

April 24, 2024

Federal prosecutors have recommended a 36-month prison sentence for Changpeng Zhao (CZ), the cryptocurrency exchange Binance’s former CEO, for U.S. law violations. Prosecutors contend Zhao’s deliberate non-compliance facilitated massive unlawful transactions, impacting national security and financial systems. CZ’s Legal Woes Deepen With Proposed Three-Year Prison Term Changpeng Zhao, referred to as “CZ” and the brain…
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Coinbase Set to Launch $15 million Ad Campaign During NBA Playoffs: Report

April 24, 2024

Coinbase, the U.S.’s largest crypto exchange, is reportedly launching a $15 million TV commercials across four channels airing NBA playoffs. The move, reported by the Fox news, is aimed at attracting more sports enthusiast into the crypto space. Symbolized by pizza, these commercials showcase the process pizzas go through, if it was a money in…
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iPhone Currently Not Compatible with Digital Euro: ECB Board Member

April 24, 2024

An ECB executive board member wants Apple to change how iPhone payments work to support a potential digital euro. He claims the tech giant’s current system may not support offline payments for any European Central Bank digital currency. The member, Piero Cipollone, outlined his concerns in a letter to EU antitrust chief Margrethe Vestager dated…
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SEC Delays Decision on Franklin Templeton’s Spot Ethereum ETF Application

April 24, 2024

The U.S. Securities and Exchange Commission (SEC) has announced a delay in its decision regarding Franklin Templeton’s proposed spot Ethereum ETF, extending the deadline to June 11, 2024. This news comes from a filing made public today, leaving the future of this financial product uncertain for the time being. The proposed ETF, initially filed in…
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South Korean Police Arrest 49 in Crypto-powered Drug Trading Bust

April 24, 2024

South Korean police have arrested 49 people in a raid on a suspected crypto-powered drugs trading gang, officers announced on April 23. Per Newsis, the Busan Police Agency Drug Crime Investigation Unit said the gang had smuggled and sold almost $1.5 million worth of narcotics to crypto-paying buyers. South Korean Police Arrest ‘Gang Leader’ in…
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Bitcoiners Seek Constitutional Reform to Allow Swiss National Bank to Purchase Bitcoin

April 24, 2024

Yves Bennaïm, founder and chair of 2B4CH, a Swiss pro-Bitcoin think tank, is launching a popular initiative to amend the country’s constitution to allow its central bank to purchase and hold bitcoin. The initiative is also supported by Bitcoin Suisse President Luzius Meisser, who believes the bank should add bitcoin to its reserves. A Reform…
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Canaan Executives Plan to Buy $2 Million in Company Shares, Citing Deep Undervaluation

April 23, 2024

Two executives of the bitcoin mining rig maker Canaan intend to jointly purchase at least $2 million worth of company shares, claiming the company is “deeply undervalued,” despite revenue decline. According to its annual report released last week, Canaan’s total revenues shrank by 67.5% to $211.5 million in 2023 from $651.5 million in 2022. Canaan…
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ZachXBT Exposes 12 Abandoned Solana Presale Meme Coin Projects Resulting in $26.7 Million in Losses

April 23, 2024

In a recent report, crypto investigator ZachXBT uncovered that nearly 12 Solana presale meme coins have been “completely abandoned” within the past month, collectively raising 180,650 SOL, equivalent to approximately $26.7 million. Despite the major fundraising, many of these meme coin projects have experienced sharp declines in value post-launch, with one project failing to launch…
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Venezuelan State Oil Company to Accelerate USDT Adoption for Settlements; Tether Vows to Uphold OFAC Sanctions

April 23, 2024

PDVSA, the state-owned Venezuelan oil company, would be preparing to migrate more of its payments portfolio to USDT, a dollar stablecoin, to avoid being affected by the restitution of U.S. sanctions. Reuters reported that the company started receiving payments in USDT last year and will accelerate its adoption. Tether, nonetheless, stated it will uphold OFAC…
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Controversy Swirls Around Bitcoin’s BIP-420: Push Behind Opcode ‘Isn’t in Good Faith,’ Says Developer

April 23, 2024

On Monday evening, Taproot Wizards co-founder Udi Wertheimer unveiled a Bitcoin Improvement Proposal (BIP) that reintroduces the OP_CAT opcode to Bitcoin. This opcode could facilitate more streamlined and efficient decentralized file hosting systems, payment channels, and sophisticated Bitcoin smart contracts by minimizing reliance on intricate cryptographic techniques. However, Bitcoin developer Luke Dashjr has labeled the…
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