Author: Dren.H

The Winklevoss twins provide a $100 million personal loan to Gemini amid a crypto market downturn and regulatory challenges. Amidst the cryptocurrency market downturn, Gemini, a US-based cryptocurrency exchange co-founded by Tyler and Cameron Winklevoss, has reportedly received a significant financial boost. The Winklevoss twins have contributed a personal loan of $100 million to the platform, following unsuccessful attempts to secure funding from external investors. According to Bloomberg’s April 10 report, the cash infusion aims to provide much-needed support to the exchange during these trying times. As of now, Gemini has not responded to requests for comments on this development.…

Vishal Gupta, former Coinbase Senior Director, leaves the company to pursue an undisclosed crypto project amid increasing regulatory scrutiny. Vishal Gupta, a seasoned professional in the cryptocurrency domain, has recently stepped down from his role as the Senior Director of Product Management at the prominent digital-asset trading platform, Coinbase Global Inc. Additionally, with an impressive career that includes a position at Goldman Sachs, Gupta is now shifting his focus to an exciting new project within the cryptocurrency space, according to an inside source. Check this thread for more: While the exact nature of Gupta’s upcoming project remains under wraps, it…

MetaMask introduces a direct fiat-to-crypto buying feature, simplifying digital asset purchases across various networks and payment methods. Leading cryptocurrency wallet and decentralized application (Dapp) provider, MetaMask, recently unveiled an innovative feature for its Portfolio Dapp: direct fiat-to-crypto purchasing. This ground-breaking addition aims to streamline the process of acquiring digital assets for users worldwide, using their local fiat currencies. The newly introduced “Buy Crypto” functionality empowers MetaMask users to access an extensive selection of over 90 digital assets across eight prominent networks, such as Ethereum, Polygon, Arbitrum, Binance Smart Chain, Avalanche Contract Chain, Fantom, Optimism, and Celo. This service is available…

Emotions prompting policy measures against the crypto sector, driving innovation and investment away from the US. The Role of Emotions in Shaping US Crypto Policies It appears that feelings such as resentment and humiliation are playing a significant role in shaping US policymakers’ recent decisions regarding the cryptocurrency industry. This has raised concerns that the US may lose its competitive advantage in the field of blockchain and digital assets, as regulatory actions seem more focused on vengeance than on well-founded judgment. The current trend of politicization in US cryptocurrency policies shows a series of enforcement measures taken against prominent industry…

Prosecutors investigate Terra executives’ 414.5 billion KRW illicit gains, while CEO Do Kwon’s seizable assets and stolen millions could total zero.  Recent developments in the Terra and Luna fiasco indicate that prosecutors have ascertained a minimum of 414.5 billion KRW ($315 million) in unlawful gains for Terra’s top executives, including CEO Do Kwon. Authorities have now initiated asset seizure procedures. However, Do Kwon, a central figure in the case, possesses zero domestic assets subject to confiscation, exempting them from the list of targeted properties. An in-depth analysis of the court’s decision on preserving assets exposes the staggering profits accrued by…

Cybercriminals in North Korea exploit DeFi service vulnerabilities, highlighting the need for stronger U.S. AML/CFT regulations and oversight. A recent comprehensive evaluation of decentralized finance (DeFi) services has exposed that unlawful entities, including cybercriminals from North Korea, are taking advantage of DeFi service vulnerabilities to transfer and launder illegal funds. Moreover, the evaluation investigates the misuse of DeFi services by these malicious actors and points out potential gaps in the United States’ anti-money laundering (AML) and countering the financing of terrorism (CFT) regulations, oversight, and enforcement systems for DeFi. DeFi services encompass virtual asset protocols and services that enable automatic…

Sam Bankman-Fried’s (SBF) legal defense is funded by a gift to his father from a loan provided by Alameda Research. The legal defense for Sam Bankman-Fried (SBF), founder of the now-defunct cryptocurrency exchange FTX, is being financed through funds he gifted to his father from a loan provided by FTX’s sister company, Alameda Research. Bankman-Fried is currently facing multiple criminal charges and an expensive legal battle. In 2021, while serving as FTX’s CEO, SBF gifted a substantial sum to his father, Joseph Bankman, a Stanford Law professor. According to two sources with inside knowledge of both companies, the gift came…

XRP soars amid optimism for Ripple’s potential victory in its SEC lawsuit, influencing the broader crypto market. Enthusiasm in the XRP futures market is reigniting as cryptocurrency traders anticipate a positive resolution for Ripple Labs in its ongoing lawsuit against the U.S. Securities and Exchange Commission (SEC). As hope builds for Ripple’s success, XRP has witnessed a remarkable upswing, skyrocketing 60% since March 16 and attaining a ten-month peak of $0.58. This renewed optimism is also propelling the wider cryptocurrency market. Coinglass data reveals that the notional open interest in XRP, which signifies the dollar value secured in active and…

The UK Treasury has suspended plans for the Royal Mint NFT due to changing priorities and uncertain demand. The United Kingdom Treasury has chosen to suspend its plan to introduce a government-supported non-fungible token (NFT) dubbed “NFT for Britain.” This proposal, initially put forward by crypto-enthusiast Prime Minister Rishi Sunak, aimed at establishing the UK as a worldwide center for cryptocurrency technology and investment. Despite this, the project’s future is now uncertain as the Economic Secretary of the Treasury confirmed that it is on hold. The Unfulfilled Promise of NFT for Britain In April 2022, Rishi Sunak requested that the…

Former FTX CEO Sam Bankman-Fried (SBF) faces a 13-count indictment, including an alleged $40 million bribe to Chinese officials. Sam Bankman-Fried, the founder and former CEO of the FTX cryptocurrency exchange, faces a 13-count indictment brought forth by United States authorities. Among the charges is an alleged $40 million bribe offered to a Chinese government official, as revealed in a court filing by U.S. attorney Damian Williams. Sam Bankman-Fried, also known as “SBF,” will stand trial on October 2, 2023, for allegations of embezzling billions of dollars from FTX customers and making illicit political contributions. If found guilty, he could…