French Police Nabs 2 Hackers for the Recent Platypus Protocol Exploit

French Police Nabs 2 Hackers for the Recent Platypus Protocol Exploit

The two individuals believed to have exploited the Platypus Protocol have been taken into custody by the French National Police. The police department confirmed the arrest after it was announced (1) on the official Twitter handle of the organization. The authorities did not reveal the names of the individuals or the charges that have since … Read more

Silvergate is Facing a Suite Because of its Dealings With FTX

Silvergate is Facing a Suite Because of its Dealings With FTX

Main Points: In the complaint, it is said that Silvergate was responsible for FTX’s downfall in some way. Joey Gonzalez filed the action in order to seek compensation for himself and for others who found themselves in a similar position. Silvergate Bank is accused of playing a substantial role in the Sam Bankman-FTX Fried’s and … Read more

FTX collapse Eroded $9 Billion in Realized Losses

FTX collapse Eroded $9 Billion in Realized Losses

  According to research published (1) by Chainalysis, the failure of FTX led to realized losses for cryptocurrency investors totaling around $9 billion. Chainalysis observed that this loss was insignificant compared to the loss caused by Terra’s UST depeg, which was $20.5 billion. Realized losses were $33 billion due to the collapse of cryptocurrency companies … Read more

CFTC Refers to Ethereum as a Commodity!

CFTC Refers to Ethereum as a Commodity!

  In Short In many instances, CTFC has referred to ETH, BTC, and USDT, amongst other cryptocurrencies, as commodities under the laws of the United States. Earlier, the chief executive officer of the CTFC, Rostin Behnam, stated that Bitcoin was the sole cryptocurrency that ought to be considered a commodity. The CTFC has filed a … Read more

Now CFTC Also Ready to Sue SBF under Commodities Fraud Law

Now CFTC Also Ready to Sue SBF under Commodities Fraud Law

The United States Commodities Futures Trading Commission has filed a lawsuit against the former CEO of FTX, Sam Bankman-Fried, as well as FTX and Alameda Research, alleging that they broke federal regulations governing commodities trading. According to Bloomberg (1), the regulator contends in its lawsuit with the Manhattan federal court that SBF and other FTX … Read more

China Detains 63 People for $1.7 Billion in Crypto Money Laundering

China Detains 63 People for $1.7 Billion in Crypto Money Laundering

Key Takeaways An investigation into possible instances of money laundering was initiated when a local bank noticed an uptick in deposits reaching more than 10 million yuan. The entire amount of money the Chinese government seized is equal to $18.6 million USD. The Chinese authorities have arrested 63 persons on suspicion of utilizing cryptocurrencies to … Read more

FTC Opposes acquisition of Activision Blizzard by Microsoft

Microsoft Edge Has an Inbuilt Crypto Wallet, Soon to be Activated?

After involvement by the United States Federal Trade Commission, Microsoft’s plan to acquire Activision Blizzard, which was initially intended to be used in the construction of Metaverse efforts, was met with resistance and ultimately failed (FTC). In order to encourage equitable competition in the markets for high-performance gaming consoles and subscription services, the FTC attempted … Read more

UK Marches On With More Regulations for Cryptocurrencies

UK Marches On With More Regulation for Cryptos

On Friday, an amendment document was released in connection with the United Kingdom’s Financial Services and Markets bill (1). This paper gives the impression that the United Kingdom’s government wants to regulate cryptocurrency and prohibit unlicensed service providers. The Minister of Financial Services, Andrew Griffith, made the following statement in the amendments paper: “to clarify … Read more

Bjorn Wagner is the New CEO of Parity(Driver of Polkadot)!

Bjorn Wagner is the New CEO of Parity!

Gavin Wood is stepping down from his role as chief executive officer of Parity, the blockchain infrastructure company driving the Polkadot ecosystem (1). Wood will, however, continue to hold the position of the chief architect at Parity Technologies and will continue to serve as a majority shareholder in the company. Wood’s co-founder, Bjorn Wagner (2), … Read more