The bankrupt cryptocurrency exchange continues to resolve its debts FTX, the bankrupt cryptocurrency exchange, has reached an agreement with Emergent Fidelity Technologies in a dispute over ownership of more than $600 million worth of Robinhood shares. Emergent, co-founded by FTX’s Sam Bankman-Fried, had been entangled in a legal battle over 55 million shares of Robinhood,
Tag: Cryptocurrency
Federal Reserve Issues Cease-And-Desist Order to Crypto-Friendly United Texas Bank
The bank has yet to conform to previous orders the Fed gave it to improve its operations The US Federal Reserve has issued a cease-and-desist order to the crypto-friendly United Texas Bank, citing issues with the bank’s risk management systems, particularly in relation to its crypto clients. This order from yesterday follows a May examination
Penpie Protocol Loses $27M Following Breach
The decentralized finance protocol has become the latest victim of cyber thieves The Penpie protocol, a decentralized finance (DeFi) project operating on the Pendle platform, experienced a severe security breach yesterday. The attack resulted in the theft of $27 million from client funds. The breach has sent shockwaves through the DeFi community and raised concerns
New Zero-KYC Proposal for Crypto Would Reduce Scams, Asserts Developer
The proposal takes a novel approach to overcome a known limitation of blockchain transactions A new proposal called the “Zero-KYC Assurance Mechanism for Fiduciary Money Transfer” (ZKAM-FMT) has been introduced by a Reddit user known as ShadowOfHarbringer, aiming to tackle financial scams in peer-to-peer (P2P) cryptocurrency markets. The innovative proposal seeks to secure transactions without
Elon Musk Wins Dismissal of Dogecoin Lawsuit
A court has ruled that there’s no case against Musk Elon Musk and Tesla have successfully completed a legal challenge accusing them of manipulating the price of Dogecoin, a popular cryptocurrency. The lawsuit, which sought a staggering $258 billion in damages, was dismissed yesterday by Judge Alvin Hellerstein of the US District Court for the
TON Recovering After Back-To-Back Outages Related to Dogs Memecoin
The outages were reportedly due to major interest in the newer memecoin The Open Network (TON) has resumed operations following its second major outage in just 36 hours. The network went down yesterday at 7:17 P.M. UTC and was restored around 1:00 A.M. UTC today. The TON Community confirmed the network’s return to full functionality
Chicago Mercantile Exchange to Launch New Bitcoin Futures
The new cryptocurrency trading options are coming at the end of September The Chicago Mercantile Exchange (CME) Group is set to introduce a new type of Bitcoin futures contract aimed at catering to the growing interest among retail investors. According to a report shared yesterday, CME will launch these new Bitcoin Friday Futures (BFF) on
Bitcoin Mining Company Rhodium Files for Bankruptcy
The company has failed to recover from a long string of poor decisions Rhodium Enterprises, a prominent Bitcoin mining firm, has filed for Chapter 11 bankruptcy in the US Bankruptcy Court for the Southern District of Texas. The filing, which was submitted on August 24, 2024, indicates that the company is facing significant financial challenges,
A New Apple Malware Has Surfaced That Threatens Cryptocurrency Wallets
The latest malware is reportedly a variation of previously reported crypto-stealing software A new form of malware targeting Apple Mac users has emerged, creating a significant threat to cryptocurrency wallets. Known as “Cthulhu Stealer,” this malicious software is designed to steal sensitive personal information and access crypto wallets. The malware disguises itself as legitimate software,
FBI To Use NFTs to Contact Clucoin Fraud Victims
The decision is one of the first where law enforcement uses NFTs to communicate The FBI is taking an innovative approach by utilizing non-fungible tokens (NFTs) to contact victims of a crypto fraud scheme tied to the fraudulent CluCoin project. This marks one of the first instances where law enforcement will use NFTs as a
A McDonald’s Grimace Memecoin Made Instagram Hackers $700K
McDonald’s lost control over its Instagram account, leading hackers to mint a small fortune Hackers recently exploited McDonald’s official Instagram account to carry on a scam that gave them over $700,000 in Solana. The incident occurred on August 21, when the fast-food giant’s social media page was compromised and used to promote a fraudulent memecoin,
New Lawsuit Emerges Against Binance Over Money-Laundering Allegations
The latest legal battle comes via Washington State and accuses the exchange of complicity Binance and its former CEO, Changpeng “CZ” Zhao, are facing a new legal challenge from three cryptocurrency investors who allege the exchange was complicit in money laundering activities that prevented them from recovering their stolen assets. The lawsuit, filed on August