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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Quick Take According to CNBC analyst Carl Quintanilla, a staggering $9.8 billion was spent on Black Friday, reflecting a 7.5% increment from the previous year, suggesting robust consumer behavior. However, a source of concern lies in a parallel trend: many of these purchases appear to be financed through personal debt. Experian reports that the average […]
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BlockFi has reached an agreement in principle with Vrai Nom Investment in its complex bankruptcy proceedings, potentially marking a pivotal moment in the crypto lending firm’s efforts to navigate its financial challenges. BlockFi has been granted an adjournment on related hearings until Dec. 19. As BlockFi emerges from the shadows of its November 2022 bankruptcy […]
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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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Grayscale submitted an updated filing for its pending spot Bitcoin ETF to the U.S. Securities and Exchange Commission (SEC) on Nov. 22. The filing in question is an amended S-3 prospectus, a type of registration form used by firms that have previously met other reporting requirements. Bloomberg ETF analyst James Seyffart suggested in an X […]
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The U.S. Department of the Treasury published its comments on settlements with Binance and related parties in a statement on Nov. 21. Secretary of the Treasury Janet Yellen said: “Binance turned a blind eye to its legal obligations in the pursuit of profit. Its willful failures allowed money to flow to terrorists, cybercriminals, and child […]
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Commissioner Hester Peirce of the U.S. Securities and Exchange Commission (SEC) commented on pending spot Bitcoin ETFs to Bloomberg on Nov. 22. Peirce said that, although she cannot comment on currently active ETF proposals, she is open to approving such a product. She said: “I’ve been very transparent that I’ve thought for many years now […]
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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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Quick Take CryptoSlate’s recent analysis has highlighted a growing divergence between Bitcoin miners and the spot price of Bitcoin, hypothesizing a link to the upcoming halving event next year. Intriguingly, this trend seems to echo in the world of precious metals, gold, to be precise. The spot price of gold reached $2,000 this week; this […]
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Coinbase CEO Brian Armstrong has touted his exchange’s compliance-first approach following the issues that bedeviled rival Binance. In a Nov. 21 statement on social media platform X, Armstrong pointed out that Coinbase embraced compliance since its launch in 2012 “to become a generational company that stood the test of time.” “Since the founding of Coinbase […]
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The GAM3 Awards 2023 in collaboration with GAM3S.GG and Magic Eden features a prize pool exceeding $2M. It will take place on Dec. 14. With 214 games initially nominated, the selection process was entrusted to a panel of over 70 experts from the traditional and web3 gaming sectors. This jury comprises executives from tech giants […]
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The Gold DAO, initiated by DAO.Link, is a groundbreaking project aiming to digitize and democratize the value of gold through blockchain technology. This initiative merges the timeless allure of gold with an innovative method for people worldwide to securely and fairly trade physical gold, bypassing traditional banking systems. For over 5,000 years, gold has been […]
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Binance issued a statement on Nov. 21 regarding its resolution of investigations from the U.S. Department of Justice (DOJ) and other agencies. There, Binance stated that it is pleased to announce the resolution and admitted to past wrongdoing. The crypto exchange company said: “When Binance first launched, it did not have compliance controls adequate for […]
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Now-former Binance CEO Changpeng Zhao has pleaded guilty to money laundering charges, according to reports from The New York Times on Nov. 21. Zhao reportedly entered his guilty plea in federal court in Seattle today and agreed to pay a $50 million fine as part of the plea deal. That fine is separate from Binance’s […]
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A class action suit filed on Nov. 17 in California alleged that Apple entered anti-competitive agreements that partially restricted the use of cryptocurrency. Specifically, plaintiffs said that agreements between Apple and its competitors prevent iOS Peer-to-Peer Payment Market apps from offering decentralized crypto features. The plaintiffs asserted that Apple’s agreements apply to various other payment […]
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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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Binance CEO Changpeng Zhao has reportedly pled guilty to violating U.S. anti-money laundering requirements and will step down from his role at the exchange, according to the Wall Street Journal. Reports are surfacing that Binance will also plead guilty to money laundering violations, and CZ will appear in Seattle court today. As of press time […]
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With OpenAI in turmoil, rival Anthropic has released its latest model, Claude 2.1, which it says sets a new benchmark in artificial intelligence, particularly in its application within enterprise environments. As of Nov. 21, Claude 2.1 is already live, powering claude.ai’s chat experience, and is accessible via API. The company states that the update is […]
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Quick Take Tulip Mania Historically, financial bubbles, once burst, have shown little propensity for recovery. The infamous Tulip Mania of the 17th century exemplifies this trend, with tulip prices soaring twenty times before crashing a staggering 99% in 1637, as reported by Investopedia. Japanese Real Estate Market The Japanese real estate market provides another poignant […]
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Avalanche has seen a significant increase in its market value this year. The token has grown substantially with impressive monthly, year-to-date (YTD), and yearly gains. AVAX’s price has surged by over 103% in the last 30 days alone, with a notable 77% increase over the past year. This price growth was accompanied by an even […]
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Several American lawmakers voiced their concerns to the U.S. Treasury regarding a proposed taxation scheme for digital assets in a Nov. 15 letter, citing its potential to stifle innovation and adversely affect the digital asset ecosystem. The letter specifically concerns taxation rules advanced by the Treasury on Aug. 25. In today’s letter, lawmakers called the […]
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Microsoft has unveiled a new chip that is intended for use in artificial intelligence (AI) applications in a news post published on Nov. 15. The company said that it unveiled the chip, named the Azure Maia 100 AI Accelerator, at its Microsoft Ignite conference on the same day. It said that the Maia 100 chip […]
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Several U.S. lawmakers have approached the Biden administration, requesting an investigation into the alleged use of cryptocurrency by terrorist groups. This request came in the form of a letter dated Nov. 15. The letter refers to earlier reports alleging that crypto wallets linked to Hamas and the Palestinian Islamic Jihad have received upwards of $41 […]
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The U.S. House Subcommittee on Digital Assets, Financial Technology, and Inclusion heard testimony today from a panel of experts in a hearing titled “Crypto Crime in Context: Breaking Down Illicit Activity in Digital Assets. The hearing aims to examine the nature and extent of criminal activities within the digital asset ecosystem, with testimonies from experts […]
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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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