Recently, Gemini, the popular cryptocurrency exchange, filed a lawsuit against Digital Currency Group (DCG) and its CEO, Barry Silbert. The suit alleges that DCG orchestrated and perpetrated a fraud against creditors, including the Gemini Earn program users. In response, DCG has labeled the lawsuit a “publicity stunt” by Cameron Winklevoss, co-founder of Gemini. Let’s take
In the wake of the “Coin Gate” scandal, South Korea’s top financial regulator is taking strict measures to ensure transparency in the crypto industry. Lawmakers have faced allegations of insider trading, adding fuel to the fire of suspicion surrounding the nation’s crypto market. Now, the Financial Services Commission (FSC) is going a step further by
Crypto.com, a leading cryptocurrency platform, finds itself entangled in a legal battle after an erroneous $50,000 transaction and subsequent additional funds of over $26,000 were mistakenly deposited into a user’s account. The case centers around James Deutero McJunkins Jr., a Georgia resident and Crypto.com user who received the erroneous deposit on June 24, 2022. Upon
Bitcoin’s price experienced a slight decline this week, erasing some of the recent gains. However, several key data points suggest that the $30,000 level should hold as support moving forward. Despite trading within a narrow range of 4.3% between $29,895 and $31,165 for 15 days leading up to July 7, investor sentiment was negatively impacted
The crypto industry has experienced a significant slump in venture capital (VC) funding, with the second quarter of last year recording the lowest amount of funds raised by crypto firms since data tracking began in Q3 2021. However, despite this downturn, executives in the industry remain positive about its long-term prospects. A Decline in Funding
The crypto industry has become a breeding ground for hackers and malicious actors, with staggering losses exceeding $30 billion since 2012, according to research by blockchain security firm SlowMist. This article delves into the various dimensions of crypto hacking, revealing the targets, tactics, and amount of money stolen by hackers. One of the most prominent
Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has recently filed a lawsuit against Digital Currency Group (DCG) and its CEO Barry Silbert. According to the lawsuit, Gemini accuses Silbert of defrauding creditors by continuing the Earn Program of Genesis, a bankrupt crypto lending firm and a subsidiary of DCG, despite its insolvency. This
The Massachusetts Senate recently announced the consolidation of several hearings on blockchain, digital assets, and digital privacy into a single assembly on July 13. This move highlights the growing significance of these topics in the state and reflects the need for thorough discussions and legislative actions. The combined assembly, held by the “Advanced Information Technology,
Binance, one of the leading cryptocurrency exchanges, has faced numerous regulatory challenges in different jurisdictions throughout June. These challenges appear to have had a considerable impact on users’ crypto assets. According to Binance’s latest proof of reserve snapshot taken on July 1, users’ Bitcoin deposits decreased by 3.5% from 614,800 BTC recorded on June 1
Bitcoin (BTC) has recently surged to new highs in 2023, defying previous expectations of a further drop in price. Analysts had anticipated a potential decline to $28,000, presenting a “buy the dip” opportunity. However, Bitcoin has instead experienced a fresh bounce off key support, propelling its price action above its recent trading range. Michaël van