ezBtc allegedly misappropriated the money and used it on online gambling sites A Canadian cryptocurrency exchange, ezBtc, and its founder, David Smillie, have been accused of misappropriating nearly $10 million of users’ funds and using the money for gambling purposes. The British Columbia Securities Commission (BCSC), a regulatory body in Canada, revealed that the platform
The shuttered crypto exchange accuses Tether of illegally liquidating funds Celsius, the now-defunct cryptocurrency exchange, has launched a lawsuit against Tether, seeking a total of $3.5 billion. The lawsuit, filed during Celsius’ bankruptcy proceedings, revolves around a dispute over Bitcoin (BTC) collateral that Tether allegedly liquidated. The core of the lawsuit is Celsius’ claim that
The federal government continues to take greater notice of crypto-linked financial institutions Customers Bank, a crypto-friendly financial institution based in Malvern, Pennsylvania, is taking steps to strengthen its Anti-Money Laundering (AML) measures following scrutiny from the US Federal Reserve. The Federal Reserve Board’s recent enforcement action highlighted deficiencies in the bank’s management and AML practices,
Ripple Labs will pay $125 million, but closing the case could allow Ripple to flourish A federal judge has ruled that Ripple Labs must pay a $125 million civil penalty in a case brought against the company by the Securities and Exchange Commission (SEC). The decision, released yesterday by Judge Analisa Torres in the US
The company becomes the first in the US to offer wire transfers through cryptocurrency Transak, a Web3 payments infrastructure provider, has achieved a significant milestone by becoming the first fiat-to-crypto on-ramp in the US to enable wire transfers. This new feature allows American crypto users to top up their digital asset accounts via wire transfers,
The company has had to cut its workforce, leading to the removal of the annual event Financial services firm Swan Bitcoin has announced the cancellation of its upcoming cryptocurrency conference, the Pacific Bitcoin Festival, which was set to take place in Santa Monica, California, on October 18-19, 2024. This decision, disclosed by Swan Bitcoin CEO
Trump wants to use the power of Bitcoin to wipe out $35 trillion in debt Donald Trump’s recent proposal to address the $35 trillion national debt using Bitcoin (BTC) has sparked significant debate and curiosity. As a former president known for his unconventional approaches, this idea reflects both the growing influence of cryptocurrencies and the
Senator Cynthia Lummis wants the government to ‘hodl’ millions in Bitcoin Senator Cynthia Lummis introduced yesterday the Bitcoin Strategic Reserve bill, aiming to establish a dedicated reserve fund for Bitcoin (BTC), a scarce decentralized asset. The proposed legislation would create a “decentralized network of secure Bitcoin vaults” managed by the US Treasury, ensuring that BTC
The days of cryptocurrency being completely anonymous and untraceable are fading In a move to combat the rising tide of investment fraud, particularly within the cryptocurrency sector, the Wisconsin Department of Financial Institutions (DFI) has unveiled a new scam tracker. This tool is a direct response to the growing number of consumer complaints and is
The move may have been a response to recent comment about the cryptocurrency industry The US government has executed a transfer of approximately $2 billion worth of Bitcoin, previously seized in connection with the Silk Road case. The Silk Road, an infamous dark web marketplace, was shut down by the FBI in 2013, and its
The recognition could further cryptocurrency’s place in the US The University of Wyoming has announced the establishment of a pioneering academic entity, the Bitcoin Research Institute (BRI), marking a significant stride in the legitimization and scholarly examination of Bitcoin. This initiative positions the university at the forefront of cryptocurrency research, reflecting a growing recognition of
Cryptocurrency ETFs are starting to pick up as a possible investment alternative Jersey City, under the leadership of Mayor Steven Fulop, is poised to take a bold step into the realm of digital assets. Since his election in 2013, Mayor Fulop has been at the forefront of innovative and progressive financial strategies to bolster the
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