Crypto News
Russian National Hit With US Sanctions for Crypto Money Laundering
The US Treasury Department’s Office of Foreign Assets Control (OFAC) imposed sanctions this week on Russian national Ekaterina Zhdanova for using crypto to help Russian elites evade international sanctions related to the war in Ukraine. According to the Treasury announcement, Zhdanova facilitated over $2.3 million in fund transfers to Western Europe on behalf of a …...
Singapore Police Alert Public of WhatsApp Phishing Scams
The Singapore Police Force issued a warning this week about a new phishing scam targeting WhatsApp users. The scam involves fake “WhatsApp Web” websites that trick victims into giving scammers access to their WhatsApp accounts. According to the police advisory, the scam starts when victims search for the WhatsApp Web page and click on phony …...
Binance Lists Memecoin; But Where Did MEME Go?
Memecoin saw major on-chain activity and exchange deposits following its high-profile Binance listing. On-chain analytics firm Lookonchain provided detailed breakdowns of Memecoin’s tokenomics and post-listing token movements. According to Lookonchain, the total supply of Memecoin is 69 billion tokens. 8,797,500,000 MEME were circulating initially when Memecoin was listed on Binance, equaling 12.75% of the total …...
Solana Price Rallies Over 69% in Past Month, Why is SOL Pumping?
The price of Solana (SOL) has surged around 69.5% over the past month, leading up to the breakpoint in 2023, according to analysis by on-chain tracking firm Lookonchain. However, previous pump and dumps around the event raise questions. Solana is currently trading around $40.50, up from under $25 in early October. Lookonchain cited several factors …...
Saylor Anticipates Significant Bitcoin Catalysts; MicroStrategy Expands BTC Holdings
“You can never have too much bitcoin,” affirmed diehard Bitcoin bull Michael Saylor in a recent CNBC interview following the Q3 earnings of MicroStrategy. He cited several key factors that can drive further bitcoin growth. As the co-founder of MicroStrategy, Saylor has made Bitcoin a corporate strategy. The company holds 158,400 BTC worth billions acquired …...
$230,000,000 in Bitcoin Moved by 3 Dormant Whales – But What’s the Common Thread?
Three dormant Bitcoin whale addresses moved a combined 6,500 BTC worth about $230 million and made sudden transfers on November 2nd. The wallets have been inactive since 2017. According to data from BitInfoCharts, the first address moved 2,550 BTC, valued at around $90 million. A second address transferred 2,000 BTC worth $71 million. And a …...
Sam Bankman-Fried is a Celebrity Chaser, Says Attorney
As the fraud trial of FTX founder Sam Bankman-Fried continues, federal prosecutors are attempting to convince the jury that the former crypto mogul knowingly misled investors and misused customer funds. Assistant U.S. Attorney Nicolas Roos delivered the prosecution’s closing argument on Wednesday, asserting there is “no serious dispute” that billions in customer funds are unaccounted …...
SEC Charges SafeMoon and Executives for $200 Million Crypto Fraud
The US Securities and Exchange Commission (SEC) charged crypto firm SafeMoon, its founder, and executives on Thursday for perpetrating an alleged $200 million fraud through unregistered token sales. According to the SEC complaint, SafeMoon and its leaders falsely promised investors they would safely lock liquidity pool funds. However, they allegedly misappropriated millions to fund lavish …...
FTX Offloads $127,500,000 in ETH, SOL, and Altcoins: On-Chain Data
Crypto exchange FTX and its sister trading firm, Alameda Research, have transferred close to $127.5 million worth of digital assets over the past few days, according to on-chain data tracked by analyst Lookonchain. $20.2 million moved on November 1 Lookonchain reported FTX moved around $20.2 million in assets on November 1, including: On October 31, …...
PayPal Registers with UK FCA for Crypto Services
Payments giant PayPal has successfully registered with the UK’s Financial Conduct Authority (FCA) as a crypto service provider, according to the regulator’s public register. However, PayPal faces restrictions on UK crypto services pending further FCA approvals. The FCA register shows PayPal UK Limited was approved for registration on October 31, 2023. The status permits PayPal …...
Vitalik Buterin Dissects Evolving Landscape of Ethereum Layer 2 Scaling Solutions
As Ethereum continues to cement itself as the leading smart contract blockchain network, an array of layer 2 scaling solutions have emerged to help bring greater capacity, lower costs, and increased security to the ecosystem. According to Ethereum co-founder Vitalik Buterin, the layer 2 landscape is likely to remain diverse and heterogeneous going forward. In …...
Crypto Hacks, Scams, and Losses Exceed $32 Million in October: CertiK
In October, over $32 million in crypto was stolen through an array of security breaches, scams, and exploits, according to security and threat intelligence platform CertiK. The October loss pushed 2023’s total well above $1.3 billion. CertiK’s incident report reveals the scale and diversity of risks facing the crypto sector. Here are the key details: …...
SEC Chair Gary Gensler Commemorates 15th Anniversary of Bitcoin Whitepaper
On October 31, 2023, Securities and Exchange Commission (SEC) Chair Gary Gensler posted a provocative tweet commemorating the 15th anniversary of the publication of the Bitcoin whitepaper by its pseudonymous creator, Satoshi Nakamoto. In the tweet, Gensler playfully pondered whether anyone would be able to recognize Satoshi if he went out incognito for Halloween. He …...
Tether Q3 Report Shows Highest Ever Cash Reserves, Lower Secured Loans
Stablecoin firm Tether published its reserves attestation for Q3 2023, revealing its highest ever percentage of reserves held in cash and cash equivalents. The report signals Tether’s prudent financial management amid crypto market volatility. Independent auditor BDO confirmed Tether’s consolidated assets continue to exceed its outstanding token liabilities as of September 30, 2023. Tether also …...
De.Fi. 2.0 Token Sale Raises Red Flags, Warns ZachXBT
On-chain sleuth ZachXBT is advising investors to exercise caution regarding the ongoing token sale for De.Fi 2.0 and its native DEFI token. In a recent tweet, he pointed out several issues that raise red flags about the project. De.Fi 2.0 operates in the decentralized finance space and conducted an initial DEX offering (IDO) for its …...
Ethereum Supply On Exchanges Drop While Price Surges: Analyst Suggests Increased Confidence
The price of Ethereum has surged recently but is beginning to show signs of conflicting momentum, based on the latest blockchain insights shared by market intelligence platform Santiment. While the second-largest cryptocurrency gained over 13% in October, its trading volumes have declined even as prices rise. This divergence between rising prices and falling volumes often …...
Crypto Investment Products See $326M Inflows, Largest Since July 2022
Crypto Investment funds saw $326 million of net inflows last week, the highest weekly total since July 2022, according to new data from CoinShares. The surge follows building optimism around a potential US spot bitcoin ETF approval. Key details from the report: Where Are Funds Flowing From? Only 12% of the latest inflows came from …...
Bankman-Fried Details FTX Growth, Admits Lack of Risk Management
FTX founder Sam Bankman-Fried took the stand for the first time Friday in his criminal fraud trial, describing the crypto exchange’s exponential expansion and his extensive work hours. However, he conceded that the lack of a risk management team was a glaring oversight. Bankman-Fried testified that FTX trading volume rapidly scaled from millions to billions …...
Fed Official Calls for Stablecoin Regulation, No Imminent CBDC Decision
Top Federal Reserve supervision executive Michael Barr said Friday that stablecoins require strong oversight to avoid risks. However, he noted the Fed remains undecided on pursuing a central bank digital currency (CBDC). In remarks at a Washington, D.C., conference, Barr stated: Stablecoins Require Federal Regulation Barr expressed deep concern over stablecoins issued without federal prudential …...
Trezor Users Targeted by Phishing Email Scam, ZachXBT Warns
Cryptocurrency hardware wallet maker Trezor is investigating a phishing email campaign targeting its users. Crypto sleuth ZachXBT revealed details of the scam on his Telegram channel. The fraudulent emails invite Trezor owners to download a fake firmware update to supposedly fix a software issue. This mirrors tactics seen in prior Trezor phishing schemes. According to …...
