News – Page 61

CFTC’s New Tech Advisory Group Includes Execs From Circle, Paradigm

The Commodity Futures Trading Commission (CFTC) announced the addition of key industry members to the newly constituted Technology Advisory Committee (TAC) The agency has appointed White House official Carole House as the new chair, while blockchain analysis company TRM Labs’ Ari Redboard has been onboarded as the vice chair. The TAC will be joined by executives from IBM, Amazon, CME Group, and Cboe Global Markets. Professors from university law schools, including Cornell, Washington College of Law, and the University of Michigan, have also been in the list.

Source: Chayanika Deka, 2023-03-15; https://cryptopotato.com/cftcs-new-tech-advisory-group-includes-execs-from-circle-paradigm/

SOL Dives 7% Daily, is $15 The Next Big Target? (Solana Price Analysis)

SOL failed to maintain its price within the descending triangle, and with the support at $20 turned into resistance, it’s currently in search of support. The most likely area where Solana can stop this selloff is found at $15. Support at $17 may provide a relief bounce, but considering this momentum, it is unlikely to hold for long. The daily MACD is in freefall, and there are no signs that this downtrend will end at this time. The bias for SOL is bearish.

Source: Duo Nine, 2023-03-09; https://cryptopotato.com/sol-dives-7-daily-is-15-the-next-big-target-solana-price-analysis/

Hut 8 Increased its Bitcoin Holdings by 65%, Yet Revenue Plunged

Canada-based cryptocurrency miner Hut 8 Mining released its financial results for the year and quarter that ended December 31st, 2022. The company managed to increase its mining production by over 28% year over year and ramp up its fiat revenues by CA$16.9 million. “As we look ahead, we will continue to uphold these operating principles as we work to close our business combination with USBTC and begin operating as a US-domiciled, digital asset mining, hosting, managed infrastructure operations, and high-performance computing organization.”

Source: Chayanika Deka, 2023-03-10; https://cryptopotato.com/hut-8-increased-its-bitcoin-holdings-by-65-yet-revenue-plunged/

3 Years Since The COVID Crash: Crypto is Still Alive But US Banks Are Shaking

crypto, which closely tracked the stock market’s movements, went into a downward spiral soon after. Bitcoin crashed from $8,000 to $3,750 in a matter of hours. It was the “loaded” retail and amateur players that tapped crypto and meme stocks as markets recovered. Eventually, the asset class soared to new heights in 2021. While dramatic blow-off peaks and drawdowns of over 80% are not out of the norm, the last bull run managed to capture the attention of investors, both big and small.

Source: Chayanika Deka, 2023-03-13; https://cryptopotato.com/three-years-since-the-covid-crash-crypto-is-still-alive-but-us-banks-are-shaking/

One Last Extension? Mt. Gox Registration Deadline Pushed Back

Mt. Gox creditors will have an additional month to select and register how they wish to receive compensation from the defunct exchange. This becomes clear from the by the exchange’s trustee Nobuaki Kobayashi. The deadline for the Selection and Registration was March 10, 2023 (Japan time) But the Rehabilitation Trustee has changed the deadline (“Deadline”) to April 6, 20 23 ( Japan time) considering various circumstances such as the progress by rehabilitation creditors.

Source: George Georgiev, 2023-03-10; https://cryptopotato.com/one-last-extension-mt-gox-registration-deadline-pushed-back/

US Court Sends Riviera Maya Gang Member and Wife Behind Bars

Dumitru Gheorghe and his wife Maria were under FBI surveillance when he was tagged in a photo posted on Facebook in August 2021. They were arrested a month later. In his affidavit, the FBI agent who tailed the couple described them as “professional, international criminals” and members of the Riviera Maya Gang. The organized crime group was led by Romanian Tudor Florian, aka the Shark, and named after the region in Mexico where it mainly operated. Tudor was arrested in Cancun in 2021 on a warrant issued by Romania, but his lawyers have so far managed to prevent his extradition.

Source: Written by Attila Biro and Kevin Hall, 2023-03-10; https://www.occrp.org/en/daily//en/daily/17404-us-court-sends-riviera-maya-gang-member-and-wife-behind-bars

Operators of AirBit Plead Guilty to $100M Crypto Ponzi Scheme

Six executives of the cryptocurrency Ponzi scheme AirBit Club have pleaded guilty for their roles in an internationally coordinated series of fraud and money laundering charges. This includes co-founders Pablo Renato Rodriguez and Gutemberg Dos Santos, their attorney Scott Hughes, and AirBit promoters Cecilia Millan, Karina Chairez, and Jackie Aguilar. US Attorney Damian Williams said the six executives took advantage of the growing hype around the asset class to deceive unsuspecting victims around the world out of millions of dollars.

Source: Chayanika Deka, 2023-03-10; https://cryptopotato.com/operators-of-airbit-plead-guilty-to-100m-crypto-ponzi-scheme/

Lendhub Exploiter Moves Proceeds to TornadoCash

Lendhub, a relatively small cross-chain crypto lending platform operating on HECO, was exploited to the tune of $6 million dollars earlier this January. The attack was carried out due to a poorly-executed removal of a deprecated IBSV cToken. Its replacement, which was already active, had an identical price point at the time, which the unknown bad actor to manipulate the pricing and drain around $6million worth of crypto from the platform. According to a security researcher, a proper analysis of the attack will be difficult to carry out as the smart contracts responsible for the price of the two tokens were both unverified.

Source: Jordan Lyanchev, 2023-02-28; https://cryptopotato.com/lendhub-exploiter-moves-proceeds-to-tornadocash/

Crypto Miner Hive Blockchain Posted Net Loss of $90.4M for Q3 2022

Hive said hedging its energy contracts, selling power back to the grid, and optimizing its operating capacity to focus on maximum profit per KWHR helped it realize a profit from mining operations in the third quarter of 2022. During this period, it reportedly mined 787 Bitcoin, with a 25% Gross Mining Margin representing $3.62 million of income. The Vancouver-based cryptocurrency miner recorded a net loss of over $90 million as a result of the “impairment from the value of ASIC and GPU chips declining”

Source: Chayanika Deka, 2023-02-26; https://cryptopotato.com/crypto-miner-hive-blockchain-posted-net-loss-of-90-4m-for-q3-2022/

Huge Move Incoming For Bitcoin? 10K BTC Seized by the US Govt Sent to Coinbase

Nearly 9,861 BTC (worth $217 million) seized from the Silk Road hacker have been sent to the crypto exchange. Bitcoin is currently facing significant sell pressure after dropping below a critical area of support to $22,018. The transfers have sparked concerns about a sell-off primarily because such an activity could point towards a potential sale that could put significant pressure on Bitcoin’s price. The BTC in question was seized by the US government between November 2021 and March 2022. More than 51,000 BTC were during this time from an individual who had ‘unlawfully’ used Bitcoin.

Source: Chayanika Deka, 2023-03-09; https://cryptopotato.com/huge-move-incoming-for-bitcoin-10k-btc-seized-by-the-us-govt-sent-to-coinbase/

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