South Korean police officers have arrested 28 people they suspected of orchestrating a crypto investment fraud ring. Per Jose Geumyoong Shinmun and the broadcaster KBC, a raid was conducted by the Gwangju Metropolitan Police Agency’s Cyber Crime Investigation Unit. South Korean Police Arrest ‘Bogus Exchange Ringleaders’ Police spokespeople confirmed they had detained six of the...
BitFuFu Inc., a rapidly growing digital asset mining service and cloud-mining provider, announced stellar financial results for the first quarter of 2024. The company’s innovative cloud mining solutions and self-mining operations are firing on all cylinders, propelling revenues and profits. The company reported an impressive 149% year-over-year spike in total revenue to $144.4 million, driven by explosive...
The US House on Wednesday voted in favor of crypto-friendly legislation (FIT21) that would hand control of cryptocurrency oversight to a government agency seen as more favorable to the industry. Its objective is to establish a fresh legal structure for digital currencies. This is despite an unconventional caution from the US securities regulator regarding the...
Bitcoin has achieved all-time highs against local currencies in several countries across Asia and South America, following a significant 7% surge in its price. On May 21, Bitcoin reached an intraday and six-week high of $71,650, marking a gain of over 7% within a 24-hour period. According to CoinGecko, this puts the asset within a...
Federal officials are transfering former FTX CEO Sam Bankman-Fried to a new prison in California. According to a recent report by The Wall Street Journal, Bankman-Fried’s spokesperson confirmed the move but did not provide the specific destination. People familiar with the matter stated that Bankman-Fried would likely be moved to a federal correctional facility in...
Bitcoin price predictions are gaining significant attention as the cryptocurrency’s value approaches its all-time high. Recent surges have propelled Bitcoin to $71,000, fueled by strong inflows into Bitcoin spot ETFs and renewed interest from institutional investors like Morgan Stanley and JPMorgan. The overall positive market sentiment, bolstered by the potential approval of Ethereum ETFs, further...
Some of the biggest tech firms and crypto exchanges have partnered to launch a ‘Tech Against Scams’ alliance, aiming to tackle the growing online fraud and financial schemes. Meta, Coinbase, Ripple, Kraken, Gemini, Match Group and the Global Anti-Scam Organization (GASO) are among the alliance members. The cross-industry coalition would pool insights and expertise from...
After a 10-month period of growth, the number of Bitcoin ATMs worldwide declined in May, interrupting a trend of expansion that began in July 2023. The decrease was driven largely by the removal of over 300 ATMs from service in the United States, which represents over 80% of the global Bitcoin ATM market. US Bitcoin...
According to Reuters, the Nigerian Federal High Court in Abuja has adjourned the tax evasion case against Binance Holdings Limited and its executive, Tigran Gambaryan. Proceedings stalled on Wednesday due to Gambaryan’s absence. The Federal Inland Revenue Service (FIRS) brought the case, which was set for arraignment before Justice Emeka Nwite. The Judge rescheduled the...
The current Bitcoin bull market is falling short of the highs of 2017, Russian experts claimed on May 20. The comments came in a Bitcoin- and crypto-themed report from the Roscongress Foundation, one of Russia’s biggest development-focused NGOs and conference organizers. ‘Bitcoin Bull Market Fever Will Falter’ – Experts Weigh in The report’s authors claimed...