Assad Jafri

BlackRock’s IBIT ETF now holds almost 50,000 BTC as AUM hits $2 billion

BlackRock’s iShares Bitcoin ETF (IBIT) has set a new benchmark in the cryptocurrency investment space by amassing over $2 billion in assets under management (AUM) just ten days after its trading debut, according to Bloomberg Terminal data. BlackRock now holds almost 50,000 BTC through its ETF. The rapid accumulation reflects the strong investor interest but […]
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Cryptocurrency

OneCoin lawyer sentenced to 10 years in prison over laundering $400 million

In a landmark judgment, Mark Scott, formerly a high-ranking lawyer at Locke Lord LLP, received a 10-year prison sentence on Jan. 25 for laundering $400 million derived from the infamous OneCoin Ponzi scheme. The sentencing at the Southern District of New York followed Scott’s 2019 conviction on multiple counts of bank fraud and money laundering. […]
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Cryptocurrency

BIS to focus on tokenization, CBDC as part of 2024 strategy

The Bank for International Settlements (BIS) has revealed its strategic priorities for 2024, with a particular emphasis on Central Bank Digital Currencies (CBDCs) and tokenization. The 2024 roadmap points to a continuation of the watchdog’s engagement with digital financial technologies. The BIS has taken a heavily pro-CBDC stance and has published a comprehensive framework for […]
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Cryptocurrency

US lawmaker probing Meta’s involvement with digital assets, blockchain tech

Congresswoman Maxine Waters, ranking member of the Financial Services Committee, has initiated an investigation into Meta’s involvement with digital assets over financial stability concerns. Waters wrote a letter to top Meta executives Mark Zuckerberg and Javier Olivan on Jan. 22, highlighting a series of trademark applications that suggest a potential expansion into digital currency and […]
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Cryptocurrency

Developers Inscribe classic Super Nintendo emulator on Bitcoin via BRC-69

Bitcoin developers at Ninjalerts have successfully inscribed the Super Nintendo Entertainment System (SNES) emulator on a Bitcoin satoshi, marking a significant advancement in the capabilities of Bitcoin Ordinals. The project was spearheaded by the team at Ninjalerts and aims to redefine the intersection of art, gaming, and blockchain technology in the form of NFTs — […]
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Cryptocurrency

Cleanspark invests $193 million in new miners, looks to 5x hashrate in anticipation of halving

CleanSpark Inc., the third largest public Bitcoin mining company by hashrate, has agreed to purchase up to 160,000 Bitmain S21 miners, according to a Jan. 8 announcement. The move could propel its hashrate to an impressive 50 EH/s over the coming year, marking a substantial leap from its current 10 EH/s. Bitcoin hit a record […]
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Cryptocurrency

VanEck buys 1,640 BTC for $72.5M to seed ETF, holdings up over $1M before trading

VanEck is heating up the competition by seeding its potential spot Bitcoin exchange-traded fund (ETF) with a substantial $72.5 million, according to the amended S-1 form filed on Jan. 8. The move is part of a broader strategy among various asset managers who are vying for the attention of investors through competitive fee structures and […]
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Cryptocurrency

Microsoft to invest record $3.2B in UK AI infrastructure

Microsoft is pledging a colossal $3.2 billion to enhance artificial intelligence (AI) infrastructure and training in the UK, according to a Nov. 30 press release. The investment marks the company’s most significant commitment in its 40-year history in the UK and aims to propel the nation forward in the global AI race. Microsoft intends to […]
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Cryptocurrency

KyberSwap hacker demands full control over the DEX at ‘fair valuation’

The hacker responsible for the $48 million KyberSwap heist has escalated their demands, now seeking complete executive control over the decentralized exchange (DEX). The hacker revealed the updated demands in an on-chain message sent on Nov. 30. They had previously expressed willingness to negotiate a bounty but complained of receiving threats and a general lack […]
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Cryptocurrency

Hong Kong to retain grace period for crypto firms despite recent scandals

Hong Kong’s financial regulators have decided to retain the grace period for crypto firms despite the city grappling with major fraud scandals involving crypto exchange platforms JPEX and Hounax in recent weeks, local media reported on Nov. 27. The grace period allows crypto firms to continue operating in Hong Kong without a license until June […]
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Cryptocurrency

Crypto phishing kit Inferno Drainer shuts down after enabling over $80M in scams

Inferno Drainer, a crypto wallet-draining kit known for its widespread involvement in cryptocurrency scams, announced on Nov. 27 that it is shutting down its operations. The kit has been responsible for phishing schemes that resulted in the theft of over $80 million in cryptocurrencies, with thousands of victims. Inferno Drainer gained notoriety after the shutdown […]
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Cryptocurrency

BBVA Switzerland selects Ripple-owned Metaco to power digital asset operations

BBVA Switzerland, the Swiss subsidiary of the Spanish banking behemoth BBVA, has announced a strategic partnership with Ripple-owned Metaco to build its digital asset operations via the latter’s Harmonize platform, according to a social media announcement. BBVA’s Swiss unit is the latest in a string of prestigious banks that have entered deals with Metaco in […]
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Cryptocurrency

Ripple CLO optimistic following Binance settlement, lambasts SEC’s ‘juvenile behavior’

Ripple Chief Legal Officer Stuart Alderoty believes the recent resolution of anti-money laundering violations by Binance via a settlement with the U.S. Department of Justice (DOJ) is a significant step towards aligning the crypto industry with essential legal and safety standards. Alderoty noted in a series of tweets that major banks have previously undergone similar […]
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Cryptocurrency

Celsius debtors to restructure defunct lender into Bitcoin miner instead of asset transfer

Celsius Network and its debtors intend to turn the defunct lender into a Bitcoin miner as part of its restructuring, according to a Nov. 20 press release. Celsius customers will own the new entity, tentatively stated as ‘Mining NewCo.’ Mining NewCo Celsius had proposed the formation of Fahrenheit NewCo as part of its restructuring and […]
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Cryptocurrency

Tether, Bitfinex victorious as court finalizes lawsuit dismissal

The court has finalized the dismissal of a class action lawsuit filed against Bitfinex and Tether after the plaintiffs in the case — Matthew Anderson and Shawn Dolifka — elected not to appeal the dismissal ruling, according to a Nov. 15 press release. Tether and Bitfinex issued a statement on the matter, saying the plaintiff’s […]
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Cryptocurrency

IMF managing director says CBDCs can replace cash, but urges public and private sector cooperation

The IMF believes that central bank digital currencies (CBDCs) have the potential to eventually supplant cash in the monetary system of the world, according to the watchdog’s managing director Kristalina Georgieva. Georgieva made the statement during a keynote address at the Singapore Fintech Festival on Nov. 15. Her speech highlighted the progress and challenges in […]
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Cryptocurrency

Former FTX general counsel to launch new crypto exchange

Former FTX general counsel Can Sun, who played a pivotal role as a key witness in the trial against Sam Bankman-Fried (SBF), is joining forces with other ex-FTX executives to establish a new cryptocurrency exchange, the Wall Street Journal reported. The Dubai-based start-up, known as Trek Labs, recently obtained a license from the Emirate’s crypto […]
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Cryptocurrency

Ripple CEO criticizes SEC for stifling crypto innovation with aggressive enforcement

Ripple CEO Brad Garlinghouse said the U.S. SEC’s actions toward the crypto industry have failed in protecting investors and needs to reassess its regulatory strategy. Speaking to CNBC’s Dan Murphy at the Ripple Swell conference in Dubai, Garlinghouse expressed concern about the SEC’s focus and questioned: “Who are they protecting in this journey?” The CEO […]
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Cryptocurrency

Solana surges 18% to hit new yearly high above $63

Solana (SOL) surged another 18% to hit a new yearly all-time high of $63.98 on Nov. 11 to cap off an impressive 40% rally this week. The token has since retraced some of the gains and is trading at $59.34 as of press time, according to CryptoSlate data. The past seven days mark the best […]
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Cryptocurrency