Author: Atis. Sh

Tether (USDT), the biggest stablecoin in crypto, alongside OKX, a top-tier global crypto exchange and Web3 technology firm, have made a striking announcement. Collaborating with the United States Department of Justice (DOJ), they have played a pivotal role in a critical investigation. This collaborative effort has led to Tether proactively freezing approximately $225 million in USDT tokens. These funds were held in external self-custody wallets linked to a Southeast Asian human trafficking syndicate, infamously involved in the global “pig butchering” romance scam. The joint operation, utilizing the advanced tools of blockchain analysis firm Chainalysis, marks this action by Tether as…

Argentina has embarked on a new political journey with the election of Javier Milei, a pro-Bitcoin and far-right populist, as its president. On November 19, Milei triumphed in the presidential run-off, securing 55% of the votes, which placed him nearly 3 million votes ahead of his nearest rival. This victory marks a substantial shift in Argentina’s political landscape, heavily influenced by Milei’s outspoken critique of central banks, which he labels as a “scam” and a tool for politicians to impose inflationary taxes on the public. In the throes of an alarming inflation crisis, where the Argentine peso has experienced a…

Yearn.finance (YFI), a major player in the Decentralized Finance (DeFi) ecosystem, experienced a dramatic 45% plunge in its value. This sharp decline saw YFI’s price fall from a high of $14,500 to a low of $8,300 within just a few hours. The crypto community is now rife with speculation and concern, pondering the reasons behind this sudden and severe drop in one of the most prominent platforms in the DeFi space. Yearn.finance’s price plummet comes in the wake of a broader selloff in the crypto market. This dramatic fall has wiped out a significant portion of YFI’s recent gains, which…

Fidelity, a titan in asset management with $4.5 trillion in assets, has made a significant stride in the cryptocurrency space. The firm has filed for a spot Ethereum exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). This move positions Fidelity at the forefront of traditional financial institutions embracing digital assets. In its filing on November 17, Fidelity outlined plans to list the Fidelity Ethereum Fund on the Cboe BZX Exchange. The proposal underlines that each share will represent a fractional, undivided beneficial interest in the Trust’s net assets, primarily comprising ETH held by the Custodian. Addressing a…

OpenAI, renowned for its revolutionary chatbot ChatGPT, has fired its CEO and founder, Sam Altman. At the same time, the board of OpenAI also fired the President of the company, Greg Brockman. This decision, announced on Friday, has sent ripples through the AI sector, marking a critical juncture in the company’s trajectory. According to an official statement, OpenAI’s board concluded its internal investigation, revealing inconsistencies in Altman’s communication. “The board’s decision comes after a comprehensive review process, finding that Mr. Altman’s interactions lacked consistent transparency, affecting the board’s governance capabilities,” the statement highlighted. Consequently, this led to a loss of…

German lawmaker Joana Cotar has embarked on a pioneering campaign to grant Bitcoin the status of legal tender within the country. Her advocacy marks a significant shift in the perception and potential integration of Bitcoin in the German economy. Cotar’s Vision for Bitcoin As a Legal Tender in Germany Cotar is not just advocating for Bitcoin’s legalization; she is actively leading a comprehensive legal evaluation to establish a framework that recognizes Bitcoin as legitimate currency. This initiative prioritizes legal security, addressing concerns such as tax evasion and money laundering. These two are are often associated with cryptocurrency transactions. Furthermore, Cotar…

Key figures in the United States Congress, including Senators Cynthia Lummis, Kirsten Gillibrand, and Representatives Patrick McHenry, French Hill, Ritchie Torres, Mike Flood, and Wiley Nickel, have united to challenge the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin 121 (SAB 121). This rare alliance across party lines centers on a significant issue: the SEC’s directive for banks to report customers’ crypto assets on their balance sheets. This mandate, they argue, unfairly singles out crypto holdings compared to other assets, potentially dampening banks’ willingness to act as custodians for cryptocurrencies. Amidst this debate, the group has reached out to key…

Upbit has communicated significant delays in Bitcoin (BTC) withdrawal and deposit transactions. This interruption is attributed to the ongoing congestion on the Bitcoin network, a situation reminiscent of the 2021 bull market, sparking a blend of concern and speculation within the cryptocurrency community. Upbit’s Bitcoin Transaction Challenges Upbit’s disclosure of the slowdown in BTC transactions on its platform is a direct consequence of the network’s congestion. Consequently, the process of deposit refunds is also experiencing delays. Importantly, this network strain is not an isolated incident; it reflects a pattern similar to the high traffic witnessed during the buoyant phase of…

The Delaware Office of the Secretary of State has reported a fake filing for a BlackRock Inc. “iShares XRP Trust” fund to the Department of Justice. This incident, initially reported by Bloomberg Law, highlights growing concerns over counterfeit financial filings. The deceptive filing, which appeared on the Delaware state government website, suggested that the investment behemoth BlackRock was gearing up to launch an exchange-traded fund (ETF) for XRP. The paperwork bore a striking resemblance to BlackRock’s legitimate submission last week for its iShares Ethereum Trust offering, adding a layer of credibility to the hoax. In a critical detail, the filing…

The Monetary Authority of Singapore (MAS) has announced its plans to initiate a ‘live’ pilot program for a central bank digital currency (CBDC) focused on wholesale interbank settlement. This pivotal step, scheduled for next year, marks a significant shift from simulated environments to actual use of a live wholesale CBDC for transactions between commercial banks. This initiative, unparalleled in its scope, solidifies Singapore’s position as a forerunner in the digital currency landscape. Ravi Menon, the Managing Director of MAS, emphasized the importance of this initiative, stating, “The ‘live’ issuance of central bank digital money for use as a common settlement…