Sam Bankman-Fried Now Seeks Extradition to the US
SBF`s appearance on Monday may cause him to reconsider his decision to resist his extradition to the U.S., where he faces allegations of fraud.
USA
US Inquiry Spurs Massive Binance `Stress Test` Outflow
Binance users have been withdrawing large quantities of money from the platform. This includes both the USDC/USD currency and other stablecoins. Read CNL.
Royal Bahamian Police Force Arrests Sam Bankman-Fried
According to the Bahamas Attorney General, the Royal Bahamas Police force arrested Sam Bankman-Fried, the former FTX CEO on December 12, 2022. Read CNL.
Too Much Power Behind Crypto to Ban It: US Lawmaker
Brad Sherman, a congressman, discussed cryptocurrency and their regulation. He does not think crypto is going to be banned anytime soon. Crypto enthusiasts respond that the technology could be of help. In an interview with the Los Angeles Times published on Sunday, Congressman Brad Sherman (D-CA) discussed his opinions on cryptocurrencies and their regulation. The Californian congressman who leads a House subcommittee on investor protection wants to make Bitcoin illegal, but he doesn’t think Congress will act that way. He told the news source, “I don’t think we’re going to (ban crypto) anytime soon.” We didn’t ban it at the
U.S. Senate: BTC Has Certainty In a Very Uncertain World
The US Senate has been recently discussing Bitcoin. The report argues that Bitcoin is an attractive investment during periods of high inflation. It seems evident that holding Bitcoin is a prudent move with a look into the future. A tweet by the Bitcoin Magazine Research Report contrasts Bitcoin’s indestructible scarcity with macroeconomic uncertainty linked with record-high inflation. The report states that BTC “gives holders a form of wealth that has certainty in a very uncertain world.” The report comes as US Senators including the Senate candidate Bruce Fenton are publicly discussing Bitcoin. In a recent tweet, Fenton compared BTC’s monetary
US Food Truck Allows Customers to Pay With Bitcoin (BTC)
The Nashville-based falafel truck will now let customers pay with Bitcoin. The state has shown resistance to digital assets in the near past. Cryptocurrency adoption has increased as assets other than Bitcoin have also gained publicity. Following recent updates, the Nashville-based falafel truck is now allowing customers to pay with Bitcoin (BTC) through the strike. The move makes the popular food truck one of the first businesses in the city to accept cryptocurrency payments. The falafel truck, which is operated by Basha’s Mediterranean Street Food, updated its website to reflect the new payment option. Customers can now use either Bitcoin
The USA Leads Crypto Adoption Race With 46m Users
Cryptocurrency has the potential to be an important part of the future. The USA is leading in the adoption race. Rising acceptance rates in Africa also is being advised. In spite of the fact that cryptocurrency has the calling to be a vital part of the future, many organizations, states and individuals remain hesitant to accept this new type of currency. However, as crypto usage continues to surge, finance cryptocurrency has helped countries catch up with the leading crypto adopters such as the USA and India. Crypto is a competitive marketplace for everybody, and access is not restricted to a
The Netherlands arrests Tornado Cash Developer
A developer connected to the authorized Tornado Cash has been detained. FIOD began investigations in June, multiple arrests have not been ruled out. The U.S. Treasury sanctioned Tornado Cash on August 8. According to a Fiscal Information and Investigation Service statement, a 29-year-old developer allegedly connected to the authorized Tornado Cash protocol was detained in Amsterdam on Friday (FIOD). Tornado Cash is an Ethereum-based crypto mixing service that allows users to gain a cloak of anonymity when transferring crypto assets. On Monday, the U.S. government sanctioned the service for assisting criminals in laundering stolen money. FIOD began investigations in June,
Falling US Inflation Rate Proves Boon for Crypto Market
The US inflation rate is below its 8.7% estimation. Many are relieved to see this, especially those hoping for a crypto market surge. The crypto community is convinced that a crypto price surge is on its way. Crypto community justifies how the fallen US inflation rate will boost crypto activity. The community claims that since the US inflation rate has come back to below estimate, crypto investing and trading will be on the rise again. Recently, the US CPI announced that its inflation rate fell from a high of 9.1% in June to 8.5% in July. This is especially significant
New York Urges Crypto Market Crash Victims To Speak Out
The Attorney General for the State of New York has issued an investor alert. New Yorkers who have been affected by crypto frauds are strongly encouraged to report The cryptocurrency industry has been rife with scams and fraudulent behavior. Letitia James, the Attorney General for the State of New York, has issued an investor alert warning anyone harmed or misled by the cryptocurrency crash to contact her office. Investors have been left in financial ruin as many high-profile cryptocurrency companies have halted customer withdrawals, implemented massive layoffs, or sought bankruptcy. Office of the Attorney General (OAG) is looking for New
Kraken Accused of Violating U.S. Sanctions In Iran
Foreign Assets Control has been investigating Kraken. U.S. crypto exchange Kraken faces U.S. sanctions. Possible fines for violating the sanctions. In recent reports, crypto exchange platform Kraken is under federal investigation for potentially violating U.S. sanction laws. The exchange platform allowed users in Iran and elsewhere to potentially buy and sell digital currency. In a recent tweet by the Wu Blockchain, Kraken is suspected of allowing users to buy and sell digital assets in sanctioned countries like Iran. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) is investigating the platform, and they could face fines for violating the sanctions.
Judge Reject SEC Motion to Revoke Amici Status and Bar John Deaton
The SEC asked Judge Torres to revoke XRP Holder’s amici status last week. In addition, the SEC wants to bar John Deaton from further proceedings. Judge Torres denied the motion of SEC earlier today. The United States Securities and Exchange Commission (SEC) sent a letter last week to Judge Analisa Torres, one of the US District Judges who conducts court proceedings of SEC vs Ripple lawsuit, asking to revoke amici status granted to XRP Holders and to bar John Deaton from further proceedings. Earlier today, defense attorney James Fillan tweeted Judge Torres denies the said SEC’s motion. Deaton, the attorney
