Category: crypto

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Bankrupt crypto exchange FTX has settled with Evolve Bank and Silicon Valley Community Foundation to potentially recover $21 million in assets. Evolve Bank will return $12.77 million to FTX while SVCF will return $8.57 million and remaining FTT tokens. These settlements await court approval to expedite asset recovery and avoid litigation.

Stephen Mollah claimed to be Satoshi Nakamoto, the creator of Bitcoin, at a press conference in London but failed to provide convincing evidence. Attendees were skeptical, as technical issues and unverified claims undermined his credibility. The event was not endorsed by the venue, and journalists grew impatient with Mollah’s lack of concrete proof.

Binance is partnering with Amazon Web Services to enhance user experience on its platform by utilizing AWS’s Cloud and Generative AI technologies. This move aims to streamline user onboarding, improve customer support, and enhance internal systems for diagnostics and troubleshooting. Binance’s focus includes simplifying KYC processes and automating issue resolution through AI tools, leading to…

Riot Platforms CEO Jason Les has received interest from “blue-chip” companies for partnership in AI and high-performance computing initiatives due to the company’s reputation and energy capacity. Despite a widening net loss in Q3, Riot’s revenue increased by 65% fueled by higher Bitcoin prices. The company is considering AI ventures for potential revenue growth.

Standard Chartered’s Geoffrey Kendrick warned of heightened Bitcoin volatility before the US presidential elections. Positive market sentiment, stable open interest, and reduced short liquidations suggest potential for favorable performance post-election. Kendrick projected a price surge if Trump wins, with a Republican sweep possibly propelling Bitcoin to $125,000. Harris victory may introduce short-term uncertainty.

The Blockchain Association reported that its member firms spent $400 million on legal defense against SEC enforcement actions led by Chair Gary Gensler. The SEC filed 104 enforcement actions in the crypto sector, leading to job losses and reduced US investment. A survey showed voters prefer clear rules over enforcement-focused regulation.

Crypto companies are highly affected by audio and video deepfake frauds in 2024, with over half reporting incidents in a recent survey by forensic services firm Regula. The survey of 575 businesses in seven industries showed that crypto businesses are tied with law enforcement as the most affected by audio deepfake fraud, and have the…

Former President Donald Trump celebrated the 16th anniversary of the Bitcoin whitepaper with a pledge to support the crypto industry and end the “war on crypto.” He highlighted his plan to pardon Silk Road founder Ross Ulbricht and promote Bitcoin as a symbol of financial autonomy. Trump’s pro-crypto stance has garnered support from the community,…

Tether Limited reported a net profit of $2.5 billion in the third quarter, with year-to-date profits reaching $7.7 billion. Strong numbers were driven by gold holdings and excess reserve buffer exceeding $6 billion. The company holds over $105 billion in cash and cash equivalents, including $102.5 billion in US Treasuries. Tether’s stablecoin supply surged to…