Cryptocurrency 

Crypto Capital Co-Founder Rejects Plea Deal in Shadow Bank Case

Crypto Capital co-founder Reginald Fowler has rejected a plea deal with the US government in an ongoing case in which he is accused of operating a “shadow bank” for several crypto exchanges. Fowler was indicted in April 2019, along with Israeli national Ravid Yosef, for allegedly running a shadow bank for several cryptocurrency firms, including Bitfinex and Tether, which are currently embroiled in a separate case in which they are accused of creating “the largest bubble in human history.” According to a letter submitted by the prosecution on January 31, the…

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Blockchain 

Zipmex Exchange Gets Crypto Trading License from Thai Regulators

The popularity of crypto trading has had a meteoric rise over the course of the past few years, and much of the reason behind the rise is due to the establishment of high-class crypto exchanges. In a new development that will come as a further boost to crypto enthusiasts, Zipmex has been granted the highly sought-after digital assets exchange license by the securities regulator of Thailand. Major Details Over the years, Zipmex has emerged as one of the most popular exchanges in the Asia-Pacific region. The new development paves the…

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Ethereum 

Gemini Launches Crypto Insurance Company with $200 Million Coverage

New York-based crypto-asset exchange Gemini has announced an increase in insurance coverage of its custody platform. The cryptocurrency exchange has increased its custody limit to $200 million. This is the largest cold storage insurance limit for any exchange globally. Gemini Launches Insurance Company This move indicates that Gemini Custody expects the demand for its services to increase. Considering the new coverage and the exchange’s reservation for accredited investors, it seems to now want to target large crypto holders in the future. The company is positioning itself to serve high-end crypto…

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Ethereum 

South Africa Plans New Crypto Regulations: Key Factors to Watch

Over the past few years, the popularity of cryptocurrencies has increased at an exponential rate, and due to that enormous growth, crypto regulations have become an important part of the discourse. In many countries across the world, cryptocurrencies are now legal, and millions of people trade in a wide range of assets every day. All About New Regulations It has now emerged that the South African Reserve Bank (SARB) is all set to introduce new regulations when it comes to the use of cryptocurrencies. The bank is trying to bring…

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Ethereum 

Ethereum Dev Arrested After Speaking at North Korea Crypto Conference

Virgil Griffith, a developer who currently works with the Ethereum Foundation, has been arrested upon arrival in the US after speaking at the Pyongyang Blockchain and Cryptocurrency Conference in North Korea in April. The United States Attorney’s Office for the Southern District of New York announced on Friday that Griffith had been arrested at Los Angeles International Airport on Thanksgiving Day. The complaint against the Ethereum developer, which was made by FBI Special Agent Brandon M. Cavanaugh, alleges that he was in violation of the International Emergency Economic Powers Act for…

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Bitcoin 

UPbit Loses $49 Million Worth of Crypto in Major Hack

UPbit, a South Korean-based crypto exchange, has lost 342,000 worth of ether (ETH), accounting for approximately $49 million USD, in a hack earlier today. UPbit Says Investors Assets Are Safe The exchange has suspended its deposit and withdrawal service after confirming in a statement that the assets had been stolen from the Upbeat Ethereum hot wallet to a previously unknown wallet address. UPbit has said that it will cover the losses but added that it may take at least two weeks before the exchange’s services are fully functional again. Any…

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Blockchain 

Grayscale Files to Become First SEC Reporting Crypto Fund

Grayscale Bitcoin Trust is trading higher by 3% after it filed Form 10 with the United States Securities and Exchange Commission (SEC) to become the first-ever crypto fund to report to the regulator. Major Development The crypto ecosystem has grown at a breakneck pace over the past few years, and it can be said that a viable ecosystem has taken shape. Things like a Bitcoin fund could not have been envisaged half a decade ago, but they are now a reality. In a new development, one of those funds is…

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Blockchain 

Binance Gets Banned on Weibo as China Continues Crypto Crackdown

Binance has had its official account on Weibo, the Chinese version of Twitter, banned due to unknown violations as the Chinese government tightens regulations on cryptocurrency. Binance and Tron Blocked on Weibo Weibo is claiming “violation of law and regulation” as the reason for the ban, but “China’s Twitter” failed to give any additional information on the recent account suspension. Tron, along with Binance, has also been blocked, but Huobi and OKEx, which are two Chinese-based exchanges, remain active on the website. Chinese President Xi Jinping banned Bitcoin back in 2017…

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Blockchain 

Bitcoin Price Gains as China Scraps Crypto Mining Ban

Bitcoin made gains last week after new documents from the Chinese government revealed that the country was reversing its decision to ban blockchain mining, with President Xi Jinping expressing his support for blockchain technology. Back in April, The National Development and Reform Commission in China published a list of industries that it believes should be restricted or limited, which featured crypto mining. President Xi Jinping’s recent comments in support of blockchain coincided with a sizeable gain in the value of Bitcoin, going from $7,500 USD to $10,500 USD in just a few…

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Blockchain 

Ethereum (ETH) Picks Up Momentum Amidst Sudden Interest in Crypto

While it is true that Bitcoin is clearly the biggest cryptocurrency in the world by way of market cap, over the years, Ethereum (ETH) has often been touted as the cryptocurrency that could eventually topple it. Although nothing of the sort has actually happened yet, there is now new hope among traders and market watchers that ETH could be heading for a bullish move soon. Bitcoin has recently enjoyed some bullish movement, and as everyone knows, the price of ETH is also closely linked with that price. As a matter…

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