News

Binance Founder CZ Gets 4 Months Prison for Compliance Failures

Binance CEO Changpeng Zhao has been given a 4-month prison sentence for failing to implement proper anti-money laundering controls at the crypto exchange.

Yagyesh Jaiswal

While CZ took responsibility for Binance's compliance shortcomings, the sentence was still much lighter than prosecutors sought. It demonstrates regulators' willingness to work with industry so long as efforts are made to remedy issues.

MicroStrategy Adds Over $7.8 Billion in BTC to Reserves

Software company MicroStrategy made additional Bitcoin purchases totaling $1.65 billion during the first quarter, growing its total BTC holdings to over 214,000 coins.

Yagyesh Jaiswal

Despite financial pressures, MicroStrategy remains committed to its Bitcoin strategy and sees potential increases in institutional crypto demand following ETF approvals. The company now holds over 1% of the total Bitcoin supply.

SEC vs. DeFi: Uniswap's Battle and Future Regulations

Uniswap faces SEC scrutiny over securities laws, highlighting broader regulatory challenges and security issues within the DeFi sector. Here's what lies ahead for decentralized finance amid this clash.

Yagyesh Jaiswal

Uniswap is under SEC scrutiny for potential securities law violations, spotlighting the regulatory battles DeFi faces alongside significant security concerns. This situation underscores the need for DeFi to address vulnerabilities and regulatory compliance.

Arthur Hayes Predicts Surge from Treasury Moves

Arthur Hayes discusses how the U.S. Treasury's upcoming policy decisions could significantly boost market liquidity, impacting both the cryptocurrency and stock markets.

Yagyesh Jaiswal

Arthur Hayes anticipates that the U.S. Treasury's impending policy actions could inject substantial liquidity into the markets, potentially driving significant rallies in both the cryptocurrency and stock sectors.

DeFi Network io.net Battles Spoofing Attack

The CEO of the decentralised computing platform io.net details a recent spoofing attack on the Solana-based network and the steps taken to resolve the issues and strengthen security.

Yagyesh Jaiswal

In a comprehensive post on social media, io.net CEO Ahmad Shadid gave a play-by-play of a recent spoofing attack that saw fake GPUs connect to the network. While the incident caused short-term problems, Shadid assured users that the network was operating normally again and that development plans remain on track.

Franklin Templeton Tokens $380M Gov Fund on Polygon & Stellar

Franklin Templeton launches a tokenized $380 million U.S. government money fund on Polygon and Stellar, paving the way for enhanced liquidity and peer-to-peer fund transfers.

Yagyesh Jaiswal

Franklin Templeton has tokenized its $380 million U.S. government money fund, introducing BENJI tokens on the Polygon and Stellar blockchains to facilitate direct, peer-to-peer transactions and expand investor access.

FBI Warns Against Unregistered Crypto Services

The FBI advises U.S. citizens to exercise caution when using unregistered cryptocurrency money transmitting services, citing potential financial disruptions and losses amid enforcement efforts.

Yagyesh Jaiswal

The FBI cautions U.S. residents against utilizing unregistered cryptocurrency services for asset transactions, highlighting the risk of financial losses due to enforcement actions.

Iconic 'Buy Bitcoin' Sign Sells for $1M at Landmark Auction

The sign famously held up during Janet Yellen's 2017 Congressional testimony has been sold at auction for 16 BTC, raising over $1 million for Bitcoin layer-2 startup Tirrel Corp.

Yagyesh Jaiswal

A staple of Bitcoin's early viral growth, the 'Buy Bitcoin' sign has found a new home after generating significant funds for further development of the lightning network. Its prominent placement behind a top policymaker helped shine a light on cryptocurrency in its formative years.

Samourai Wallet Closed, Founders Held for Money Laundering

Samourai Wallet, a privacy-focused Bitcoin wallet, has been shut down, and its founders arrested on charges of facilitating money laundering, marking a significant operation by international law enforcement.

Yagyesh Jaiswal

The US Department of Justice, in collaboration with international agencies, has shut down Samourai Wallet and arrested its founders for allegedly facilitating over $2 billion in illegal Bitcoin transactions, highlighting ongoing regulatory actions against crypto-related money laundering.

Morgan Stanley Brokers to Push Bitcoin ETFs

Morgan Stanley is poised to allow its brokers to actively recommend Bitcoin ETFs to clients, a move that could significantly boost interest and accessibility in cryptocurrency investments.

Yagyesh Jaiswal

Morgan Stanley is considering a policy change that would enable its brokers to recommend Bitcoin ETFs to clients, potentially rejuvenating interest and expanding access to cryptocurrency investments within its substantial network.

Europe Tightens Crypto Rules to Curb Illicit Flows

The European Union has enacted new regulations that increase oversight of cryptocurrency firms and require enhanced customer due diligence to fight money laundering better.

Yagyesh Jaiswal

To curb cryptocurrency's illicit uses, the EU approved stringent rules that oblige crypto companies like exchanges to vet clients and thoroughly report suspicious activity. The measures aim to promote transparency and protect the financial system while allowing innovation.

Grayscale & BlackRock Face SEC Delays on Ethereum ETFs

Grayscale Investments and BlackRock have updated their applications for spot Ethereum ETFs as the SEC's decision approaches in May, amidst growing skepticism about approval.

Yagyesh Jaiswal

Grayscale and BlackRock have revised their Ethereum ETF applications, preparing for the SEC's decision expected in May, amid industry-wide anticipation and a generally pessimistic outlook on approval.

Binance Founder CZ Faces 3 Years Prison for AML Violations

Binance CEO Changpeng Zhao pled guilty to charges related to weak anti-money laundering controls and now faces a recommended 3-year prison sentence from US prosecutors.

Yagyesh Jaiswal

This landmark case could set legal precedents for greater cryptocurrency regulation by US authorities going forward.

Spot ETFs Continue Strong Inflows Following Halving

A look at how spot Bitcoin ETFs in the US saw continued net inflows in the days after Bitcoin's block reward halving, with FBTC gathering the largest addition of $34 million on April 23rd.

Yagyesh Jaiswal

While halving, fund inflows resumed in the following days led by strong additions to FBTC and ARK funds. Grayscale's GBTC also saw significant outflows.

Over 50% of Solana Memecoins Vaporized After Raising $25M

A new report reveals over half of top Solana memecoin projects that collected $25 million last month were deserted by their founders shortly after, with many tokens never launching.

Yagyesh Jaiswal

The sudden abandonment of multi-million dollar Solana memecoin ventures within a month of their creation highlights the risks involved with such speculative projects and pre-sales.

SEC Lawyers Quit Over DEBT Box Case Controversy

Two SEC lawyers have resigned following controversies surrounding their handling of the DEBT Box case, which involved inaccuracies and misleading statements in court proceedings.

Yagyesh Jaiswal

SEC lawyers Michael Welsh and Joseph Watkins resigned amid fallout from their controversial handling of the DEBT Box case, where inaccuracies in court led to significant legal repercussions for the agency.

RFK Plans to Put the Entire US Budget on the Blockchain

Independent Presidential candidate RFK Jr. aims to increase accountability of government expenditures by making all budget data accessible on the blockchain.

Yagyesh Jaiswal

As an Independent candidate, RFK Jr. envisions applying emerging technologies like blockchain to reinvent budget transparency and accountability. Realizing this ambitious goal faces hurdles but may be achieved through strategic cooperation and an open, verifiable system allowing civic involvement in financial scrutiny.

FTX Estate to Auction New Solana Stockpile

The estate of collapsed crypto exchange FTX is preparing to auction a large batch of locked Solana (SOL) tokens to maximize returns. Learn the key details and what it means for SOL price.

Yagyesh Jaiswal

As creditors seek to recover losses, this SOL auction provides an opportunity for investors to potentially profit from FTX's downfall while influencing the market value of Solana. With the right strategy, participants can make the most of this unique situation.

Over $60 Million USDT Circulates on Telegram's Blockchain

Tether has issued over $60 million worth of USDT stablecoins on The Open Network (TON) blockchain since collaborating with the project two weeks ago. This article explores the partnership and its implications.

Yagyesh Jaiswal

In under two weeks, Tether and TON have demonstrated the potential of integrating stablecoins into widely used platforms like Telegram. Their collaboration could pave the way for more partnerships between cryptocurrency projects and major networks.

$44.5M Stolen from Hedgey on Arbitrum & Binance Networks

Hedgey Finance has reported a significant security breach resulting in the loss of $44.5 million in digital assets across the Arbitrum and Binance networks, highlighting critical vulnerabilities in DeFi security.

Yagyesh Jaiswal

Hedgey Finance experienced a major crypto theft involving $44.5 million across Ethereum’s layer-2 network Arbitrum and Binance Smart Chain, triggered by an exploit of the platform’s function.

Binance Regulatory Saga in Nigeria Takes Another Twist

The ongoing legal battle between cryptocurrency exchange Binance and Nigerian authorities sees another delay as the tax evasion trial is rescheduled to mid-May.

Yagyesh Jaiswal

As regulatory pressure on Binance intensifies in Nigeria, the exchange faces yet another postponed court hearing over tax evasion allegations, highlighting the unresolved issues between the two parties.

Rush to Mint Tokens on Bitcoin as Runes Protocol Launches

This in-depth article explores how the launch of the Runes Protocol triggered a rush among users to be among the first to mint tokens on Bitcoin, pushing transaction fees higher after the 2024 Bitcoin halving block was mined.

Yagyesh Jaiswal

The launch of the Runes Protocol triggered a gold rush as users sought to take advantage of increased scarcity on the Bitcoin blockchain post-halving. While some early projects won coveted spots, long-term success staying power remains to be seen in this new frontier for tokenization on Bitcoin.

JPMorgan CEO Slams Bitcoin as 'Ponzi' Amid ETF Moves

Jamie Dimon, CEO of JPMorgan Chase, labels Bitcoin a 'Ponzi scheme' even as the bank participates in BlackRock's Bitcoin ETF, highlighting the complexity of the crypto landscape in traditional banking.

Yagyesh Jaiswal

JPMorgan CEO Jamie Dimon has renewed his criticism of Bitcoin, calling it a 'Ponzi scheme', despite the bank's role in facilitating BlackRock’s Bitcoin ETF. His views contrast with the growing integration of blockchain technologies in traditional finance.

IMF: Bitcoin Key for Stability in Tight Economies

The International Monetary Fund acknowledges Bitcoin’s role in facilitating cross-border financial flows, highlighting its importance in countries with economic instability and strict financial regulations.

Yagyesh Jaiswal

The IMF identifies Bitcoin as a vital financial tool for residents in countries with restrictive financial controls, using it to preserve wealth and engage in global commerce despite local economic challenges.

Hong Kong's Crypto ETFs Eye $1B AUM in 2 Years

Bloomberg analysts project that Hong Kong's newly approved Bitcoin and Ethereum ETFs will amass $1 billion in assets within two years, despite challenges for Chinese investors and market maturity concerns.

Yagyesh Jaiswal

Despite initial reservations, Bloomberg now predicts that Hong Kong's Bitcoin and Ethereum ETFs will achieve $1 billion in assets under management within two years, reflecting growing confidence in the region's crypto market potential.