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According to Turkish authorities, the country’s law enforcement agencies have disrupted a criminal syndicate that lured unsuspecting residents into investing in a Ponzi scheme disguised as a cryptocurrency investment. The syndicate is reported to have swindled $1 billion from investors who were deceived by the scammers’ promise of high profits and zero risks. During the … Read more
The Grayscale-Harris Poll survey, conducted in April-May 2024, reveals crucial insights into American likely voters’ views on cryptocurrency and its potential impact on the upcoming presidential election. The survey, involving over 2,000 adults, highlights key trends such as high interest in crypto among young, minority, male, and Democratic voters. Significant findings include 97% of likely … Read more
Two Estonian nationals have been extradited from Estonia to the U.S. to face charges for their roles in “a massive multi-faceted cryptocurrency Ponzi scheme,” according to an announcement by the U.S. Department of Justice (DOJ). Sergei Potapenko and Ivan Turõgin are accused of operating a $575 million Ponzi scheme involving the fraudulent cryptocurrency mining service … Read more
The rising trend of “re-staking” has driven significant cryptocurrency investments into platforms that reward users for locking up their tokens. Leading this movement is Seattle-based startup Eigenlayer, which secured $100 million in funding from Andreessen Horowitz’s crypto arm in February. Eigenlayer has attracted $18.8 billion worth of crypto to its platform from less than $400 … Read more
DMM Bitcoin, a subsidiary of DMM Group, has reported a significant security breach resulting in the theft of 4,502.9 bitcoin (BTC), valued at approximately $303 million. The Japanese cryptocurrency exchange detected the unauthorized transfer of funds from its wallet at 1:26 p.m. on Friday, May 31, 2024. In response, DMM Bitcoin has assured its customers … Read more
Ripple’s recently published 2023 Trends in Regional Payments ebook highlights the transformative role of cryptocurrencies and Central Bank Digital Currencies (CBDCs) in the global payments landscape. Latin America is witnessing a digital transformation with a shift towards crypto-powered solutions and CBDCs, despite resistance from sector incumbents. In Africa, crypto-enabled payments are enhancing accessibility and affordability, … Read more
Robinhood, the popular investment and trading platform, has announced a significant upgrade for its crypto customers in the United States. Users can now leverage Robinhood’s newly introduced Crypto Trading API to view real-time crypto market data, manage their portfolios and account information, and place crypto orders programmatically. “With our new crypto trading API, we’re helping … Read more
David Kagel, a disbarred California attorney, pleaded guilty to orchestrating a cryptocurrency Ponzi scheme that defrauded victims of over $9.5 million. Kagel, 85, promised high returns through artificial intelligence trading bots and falsely claimed to hold $11 million in bitcoin to secure investments. He used his attorney position to instill trust, providing fake letters on … Read more
Global investment bank JPMorgan’s JPM Coin has seen a significant surge in transactions, according to Umar Farooq, head of Onyx by JP Morgan. During a session at the Consensus conference, Farooq stated, “We’ve seen the number of transactions explode by factors of 10, if not hundreds. Fewer larger transactions, lots of smaller transactions.” He noted … Read more
Cryptocurrency exchange Gemini announced on Wednesday that Earn users have received $2.18 billion of their digital assets in kind, representing 97% of their assets owed and a 232% recovery since Genesis halted withdrawals. This recovery follows a settlement with Genesis and other creditors, ensuring that Earn users will receive 100% of their digital assets back … Read more
