SEC Settles Charges Against Fintech Firm Linus Financial
The SEC settles charges against Linus Financial for selling an unregistered cryptocurrency lending product. Key Points The US Securities and Exchange Commission (SEC) made an announcement on Thursday regarding the settlement of charges against Linus Financial, a fintech firm based in Tennessee, over the sales of an unregistered cryptocurrency lending product. The SEC stated that it will not impose civil …
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Crypto Cynic Becomes Singapore’s New President
Singapore elects Tharman Shanmugaratnam as its new president, previously known for skepticism toward cryptocurrencies, now emphasizing “ultra clarity” and a balanced regulatory approach. Key Points Singapore recently elected Tharman Shanmugaratnam as its 9th president, succeeding Halimah Yacob. While Shanmugaratnam had previously referred to cryptocurrencies as “inherently purely speculative and slightly crazy,” the role of the President in Singapore is mostly …
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South Korea Crack Down on Crypto Drug Trafficking
South Korean police arrest 312 individuals involved in a cryptocurrency-facilitated drug trafficking network operating on dark web platforms. Key Points South Korean police have intensified their efforts to combat drug trafficking facilitated by cryptocurrencies, resulting in the arrest of 312 individuals involved in a major narcotics bust. The arrests were made by the Seoul Metropolitan Police Agency’s Drug Crime Investigation, …
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Bittrex Agrees to Pay $24 Million Fine to SEC
Bittrex faces a $24 million fine for alleged unregistered securities exchange operation amid the SEC’s intensified crackdown on the crypto industry. Key Points The United States Securities and Exchange Commission (SEC) continues its enforcement action to bring the crypto industry into regulatory compliance. The latest target of the SEC is bankrupt crypto exchange Bittrex, which has agreed to pay a …
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Korean Prosecutors View XRP as a Positive Development
South Korean prosecutors’ pursuit of fraud charges against Do Kwon and Terraform Labs faces complications after the XRP trial verdict. Key Points The recent ruling in the XRP trial has raised concerns among South Korean prosecutors who are seeking to convict Do Kwon and Terraform Labs of fraud and securities violations. The ruling by a US court, which declared that …
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Russian Banks Demand Answers on Digital Ruble
Russian banks seek clarity from the Central Bank on the digital ruble, raising questions about its implementation and impact. Key Points Russia’s Association of Russian Banks (ARB) has sent a letter to the Central Bank of Russia, requesting clarification on the country’s plans for a Central Bank Digital Currency (CBDC) known as the digital ruble. The ARB expressed concern over …
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Curve Finance Offers Bounty to Identify Exploiter
Curve Finance offers $1.85 million bounty to identify hacker after $60 million exploit; some funds returned voluntarily, security concerns raised in DeFi ecosystem. Key Points Curve Finance, the decentralized finance (DeFi) platform that suffered a devastating exploit resulting in a loss of over $60 million, has announced a bounty of $1.85 million to anyone who can identify the exploiter. In …
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Airdrop Announced by Environmentally-Friendly Cryptocurrency
Chimpzee, an eco-crypto initiative, combines blockchain and environmentalism, attracting eco-conscious investors and contributing to conservation efforts Key Points Climate change is no longer a distant, future threat; it is here, altering our world with rising sea levels, catastrophic wildfires, and record-breaking heatwaves. The urgency of this crisis calls for more than just acknowledgment—it demands robust climate activism. This pressing need …
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KPMG Study Reveals Bitcoin Mining’s Ability to Reduce Carbon Footprints
Bitcoin miners are cutting costs by relocating near affordable sources of renewable energy, as per KPMG’s analysis. Key Points KPMG’s recent analysis sheds light on the strategy employed by bitcoin miners to cut down on costs by relocating near affordable sources of renewable energy like solar and wind. In today’s digital era, cryptocurrencies have taken the financial world by storm. …
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Shiba Inu Surges Despite Market Decline
Shiba Inu (SHIB) stands out with a bullish trend, defying the broader crypto market, fueled by whale buying and technical analysis. Key Points Despite a lackluster performance in the broader crypto market, Shiba Inu (SHIB), a leading meme coin, stands out with its bullish trend. With an influx of over $150 million in trading volumes over the past 24 hours, …
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