Latest News
By Federal Newswire | Mar 8, 2024
Christian Catalini, the founder of the Massachusetts Institute of Technology (MIT) Cryptoeconomics Lab, recently highlighted the potential of blockchain technology to become a significant part of U.S. national security in the future. In an interview with Federal Newswire, Catalini expressed concern that the current lack of regulatory certainty in the U.S. crypto industry is driving private sector talent towards other countries.
By Federal Newswire | Mar 8, 2024
Christian Catalini, founder of the MIT Cryptoeconomics Lab, has stated to Federal Newswire that blockchain analytics companies are playing a crucial role in supporting government efforts to tackle illicit fund movements. He pointed out that the transparent nature of blockchain offers increased visibility into crypto transactions, which can be harnessed to address unlawful activities.
By Federal Newswire | Mar 7, 2024
Two representatives from Binance, the world's largest cryptocurrency exchange, including an American citizen, have been detained in Nigeria. This development follows their journey to the country for discussions with government officials. As the Nigerian government grapples with an economic crisis, Binance has suspended its services related to the Nigerian naira (NGN).
By Federal Newswire | Mar 2, 2024
Two former employees of FTX and Alameda Research have launched a new cryptocurrency exchange, Backpack. Following a series A funding round, the company has been valued at $120 million. Founded in October 2023, this development comes 11 months after the bankruptcy and collapse of cryptocurrency exchange FTX.
By Federal Newswire | Mar 2, 2024
The Nigerian Government is seeking billions of dollars from the cryptocurrency exchange, Binance, amidst a foreign exchange crisis. The government alleges that Binance has established an unofficial exchange rate in the country and has contributed to the ongoing economic disruption in Nigeria.
By Federal Newswire | Feb 29, 2024
Tom Emmer, the House Majority Whip and Republican representative from Minnesota, has accused the Office of Management and Budget (OMB) of abusing its emergency powers to fast-track a request from the Energy Information Agency (EIA). The request is aimed at making Bitcoin miners subject to a mandatory survey. Emmer has raised multiple questions about this "emergency survey" in a letter addressed to OMB Director Shalanda Young.
By Federal Newswire | Feb 29, 2024
Cryptocurrency firm Gemini has been directed to refund $1.1 billion to its customers, following a settlement reached with the New York Department of Financial Services (NYDFS). In addition to customer reimbursement, the company has also been instructed to pay a $37 million fine for 'significant failures.'
By Federal Newswire | Feb 28, 2024
Jack Solowey, a policy analyst at the Center for Monetary and Financial Alternatives of the Cato Institute, recently addressed the issue of illicit activity in cryptocurrency compared to that in the traditional financial system. In an interview with Federal Newswire, Solowey highlighted that transactions conducted on blockchains are openly recorded, unlike those in the traditional financial system which remain closed.
By Federal Newswire | Feb 28, 2024
Jack Solowey, a policy analyst at the Cato Institute's Center for Monetary and Financial Alternatives, has proposed that the U.S. government could bolster national security through the implementation of blockchain solutions in collaboration with the private sector. Speaking to Federal Newswire, Solowey highlighted that law enforcement agencies can leverage the transparent and immutable characteristics of blockchains to disrupt illicit activity involving cryptocurrencies.
By Federal Newswire | Feb 28, 2024
Jack Solowey, a policy analyst at the Cato Institute's Center for Monetary and Financial Alternatives, recently highlighted the potential of blockchain technology in strengthening U.S. national security. Speaking to Federal Newswire, Solowey stated that blockchain technology can serve various purposes beyond its known payments-related functions. He emphasized that blockchains can protect sensitive information from authoritarian regimes, including recordings of pro-democracy statements from Hong Kong and testimonies of Holocaust survivors.
By Federal Newswire | Feb 28, 2024
Bitcoin Exchange-Traded Funds (ETFs) have set a new record in trading volume, with over $2 billion sold in a single day. On February 26, the spot bitcoin ETF marked a record-breaking volume of $2.4 billion, followed by $2 billion the following day.
By Federal Newswire | Feb 28, 2024
MicroStrategy, a business intelligence firm, has recently augmented its bitcoin holdings by an additional $155 million. This latest investment elevates the company's total stake in cryptocurrency to over $11 billion.
By Federal Newswire | Feb 24, 2024
A federal judge has approved the $4.3 billion plea deal that Binance, a prominent cryptocurrency exchange, has negotiated with the United States Department of Justice. Binance will plead guilty to violations of sanctions and anti-money laundering laws.
By Federal Newswire | Feb 22, 2024
U.S. Representative Tom Emmer (R-Minn.) has accused the media of inaccurately portraying Hamas's use of cryptocurrency, claiming that lawmakers are using this false information as the basis for legislation. He has urged the U.S. Treasury Department to provide accurate details about Hamas's crypto usage.
By Federal Newswire | Feb 21, 2024
Tyr Capital, a crypto hedge fund, is facing allegations of criminal mismanagement due to purportedly disregarding its internal risk limit through excessive exposure to FTX. Following a complaint by TGT, another hedge fund that invested with Tyr, Swiss prosecutors have raided the premises of the accused firm.
By Federal Newswire | Feb 16, 2024
Austin Campbell, an adjunct professor at Columbia Business School and former chief risk officer at Paxos, expressed to Federal Newswire that the potential imprisonment of Changpeng Zhao (CZ), co-founder and former CEO of cryptocurrency exchange Binance, for over a year could prompt inquiries as to why traditional bank executives have not been incarcerated for similar offenses. Campbell highlighted that despite both CZ and Sam Bankman-Fried, founder and former CEO of crypto exchange FTX, facing criminal sentences, their cases are distinctly different.
By Federal Newswire | Feb 15, 2024
FTX, under the leadership of CEO John Ray III, has announced plans to fully reimburse all former customers who were defrauded. Legal representatives for FTX's bankruptcy estate have informed a judge that they anticipate having sufficient funds to fully repay customers and creditors with legitimate claims against the company.
By Federal Newswire | Feb 15, 2024
Austin Campbell, an adjunct professor at Columbia Business School and former chief risk officer at Paxos, has shed light on the legal issues surrounding Binance founder Changpeng Zhao (CZ) and FTX founder Sam Bankman-Fried. Speaking to Federal Newswire, Campbell highlighted that the case against CZ bears similarities to failures at major banks, whereas Bankman-Fried stands accused of misusing customer funds and deceiving investors. He also pointed out that U.S. government agencies have recognized many of Binance's historical compliance issues as resolved.
By Federal Newswire | Feb 13, 2024
A recent filing in a Seattle federal court has announced the postponement of Binance co-founder Changpeng Zhao's sentencing from February 23 to April 30. The filing, dated February 12, did not provide a reason for the delay.
By Federal Newswire | Feb 13, 2024
New York Attorney General Letitia James has broadened the lawsuit against Digital Currency Group (DCG) to over $3 billion, following claims from investors of higher losses than initially estimated. The original lawsuit was approximately $1 billion before this expansion.
