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Two cryptocurrency platforms face allegations of fraud by Washington State’s Department of Financial Institutions. Both companies allegedly lured investors with promises of huge returns, but later blocked withdrawals and demanded extra fees. An investor lost $64,000 to one platform after being asked for a “safety reserve” fee. The platforms are accused of exploiting social media … Read more
The Washington State Department of Financial Institutions (DFI) issued a consumer alert on Tuesday, stating that it has received a complaint regarding possible fraudulent activities by a cryptocurrency trading platform named BIB. An investor reported that after transferring 20,000 USDT to BIB following advice from individuals named Austin Johnson and Cindy Turner, he was unable … Read more
The Washington State Department of Financial Institutions (DFI), Securities Division, has warned about crypto investment fraud following a complaint from a resident regarding their investment in the Miami Foundation Equity Fund 005 (or Miami Equity Fund Institute 005). The investor had deposited funds on the now-inaccessible Vims.one platform through a Whatsapp group led by “Mark” … Read more
Other states can join in the settlement, which will see up to $82.1 million returned to customers. Go to Source
Binance founder Changpeng “CZ” Zhao posted a $175 million bond with a condition he returns to the U.S. two weeks before his sentencing. Go to Source
On July 28, the bitcoin mining company Bitfarms announced the completion of the second phase of its facility expansion, by adding roughly 18 megawatts (MW) of capacity to the operation. The mining facility dubbed “The Bunker,” now has approximately 3.8 exahash per second (EH/s), after the 18 MW increase boosted the computational power by 200 … Read more
A region in the Pacific Northwest of the United States is on high alert because of concerns about a possible invasion of bitcoin (BTC) miners. The state has previously experienced an influx of Chinese bitcoin miners, due to decreasing electricity prices. Bitcoin Bull-Run Could Revive Interest in Mining, Officials Warn Per the Seattle Times, bitcoin’s … Read more
The novel coronavirus outbreak in the US seems to primarily focus on Washington state. New evidence is coming to light to explain why this odd situation is in place today. When a pandemic occurs, every country will have its “hotspots”. Washington State Remains a Hotspot In China, that is Wuhan, whereas Italy has the Lombardy … Read more
A major utility in the U.S. state of Washington, Grant County public utility district, and its commissioners are facing a lawsuit filed by nine cryptocurrency firms. The suit alleges that they “acted inappropriately in creating and approving a new rate that raises electricity costs” for cryptocurrency miners. Also read: Indian Supreme Court Moves Crypto Hearing, Community … Read more
The commissioners of a public utility district in central Washington State have unanimously approved a rate hike for cryptocurrency miners. The utility serves over 46,000 customers throughout the county. The cost increase starts at 15 percent beginning next year, 35 percent the following year, and 50 percent thereafter. Also read: 160 Crypto Exchanges Seek to Enter Japanese … Read more
