Executives from $1.5B South Korean crypto exchange fraud jailed
Six execs from crypto firm V Global have received prison sentences for their role in defrauding around 50,000 investors out of roughly $1.5 billion. Three executives were not held so they could defend themselves against specific charges in court, while six executives implicated in the $1.5 billion (2 trillion won) South Korean cryptocurrency exchange fraud […]
MicroStrategy Sells 704 Bitcoins (BTC) For First Time
According to a SEC filing, MicroStrategy sold 704 Bitcoin (BTC) for the first time after disclosing a purchase of nearly 2,500 BTC. MicroStrategy, a cryptocurrency-friendly business, raised its Bitcoin (BTC) holdings between November 1 and December 21 by purchasing roughly 2,395 BTC for a total of $42.8 million in cash, according to a filing with […]
China’s CBDC wallet resorts to ages-old customs to boost adoption
China’s wallet app for its digital yuan central bank digital currency (CBDC) introduced a feature for users to send money. In an effort to draw in more users, China’s wallet app for its digital yuan central bank digital currency (CBDC) added a function that allows users to transmit money in an electronic equivalent of traditional […]
Winklevoss twins gets sued over interest accounts on Gemini
Gemini Trust Co. and its founders, were sued by investors who claim the crypto asset exchange sold interest-bearing accounts which it failed to register as securities. According to reports, investors are suing Tyler and Cameron Winklevoss, the creators of the cryptocurrency exchange Gemini, over the interest-earning program Gemini Earn. According to a Bloomberg story, disgruntled […]
FTX Scammers pretend to be US State Department
Scammers are using the opportunity to take advantage of the collapsed exchange, FTX victims by posing as government officials. Scammers are leveraging the opportunity presented by users’ desire for the restoration of lost funds caused by the FTX crash to prey on already vulnerable victims by acting as government representatives. The Oregon Division of Financial […]