South African Central Bank Opts Against Publishing CBDC Study Findings
The South African Reserve Bank has reportedly decided not to unveil the findings of the initial phase of its central bank digital currency feasibility study. Instead, the central bank said it is currently focused on the second phase of the study and will release a report once it is satisfied with the progress made in […]
ZKasino initiates ETH refund process amid mounting scam allegations
**Meta Description:** ZKasino announces 72-hour refund process for investors amid allegations of a $33 million “rug pull,” sparking skepticism and concerns about the authenticity of the claim.
The post ZKasino initiates ETH refund process amid mounting scam allegations appeared first on Crypto Briefing.
Humanity Protocol is building a secure, private Web3 identity system with zk-proofs and palm scans: An interview with founder Terence Kwok
Humanity Protocol uses palm scans with strong privacy measures to build a secure, private, and universally accessible Web3 identity system.
The post Humanity Protocol is building a secure, private Web3 identity system with zk-proofs and palm scans: An interview with founder Terence Kwok appeared first on Crypto Briefing.
Bank of Israel Launches Digital Shekel Challenge
The Bank of Israel has announced the Digital Shekel Challenge, inviting various entities — private companies, public sector organizations, and academic institutions — to participate in the digital shekel’s experimental environment. The initiative aims to foster the development of innovative payment solutions using the digital shekel, leveraging its Application Programming Interfaces (APIs). Participants are expected […]Luxor and Bitnomial launch Bitcoin mining derivatives product
The new crypto derivatives product allows investors to speculate on future hashrates and hashprices.
Bitcoin (BTC) mining firm Luxor Technology Corporation and Bitnomial Inc. have launched a Bitcoin mining derivative product on Bitnomial’s United States derivatives exchange.
On May 28, Bitnomial announced the launch of Hashrate Futures, a derivative futures contract for trading the computing power of the Bitcoin blockchain.
Bitnomial claimed the product, trading under the ticker HUP, offers a way for miners to hedge their revenue and for investors to gain exposure to the Bitcoin mining hash rate.
US Jury Convicts Two in $8M Crypto-Linked Dark Web Drug Scheme
A federal jury in Salt Lake City convicted Oluwole Adegboruwa and Enrique Isong, foreign nationals, of multiple drug-related charges. From 2016 to 2019, they generated over $8 million in cryptocurrency, including bitcoin and ethereum. Adegboruwa operated under the names “King Odua” and “Alagbada726,” converting cryptocurrencies to traditional currency. Sentencing is scheduled for August. The jury […]Ethereum Futures Open Interest Hits All-Time High Following ETF Approvals
Ethereum has experienced a significant increase since the U.S. Securities and Exchange Commission (SEC) approved a group of spot ether exchange-traded funds (ETFs). This week, ether reached a high of $3,980 per coin, which is approximately 18.4% below its all-time high. Amid fluctuating prices, ethereum futures markets have achieved a record high in open interest. […]ZKasino gives investors 72-hour window to get back deposited ETH
ZKasino denied it tried to make off with $33 million of investor funds in April and has now opened up a short refund window.
Blockchain-based gambling project ZKasino says it has initiated a 72-hour “2-step bridge back process” to return funds to investors a month after it was alleged to have done a $33 million “rug pull.”
“We are now initiating the 2-step bridge back process in which bridgers can sign up and bridge back their ETH at a 1:1 ratio,” ZKasino said in a May 28 Medium post, adding the team hasn’t given up on the project.
“The ZKasino team is still working hard to make the project successful. We again want to assure everyone that we are here to deliver and continue our best efforts.”
Ripio CEO: Brazilian Companies Are Paying Chinese Suppliers With Cryptocurrency
Sebastian Serrano, CEO of Ripio, one of the largest exchanges in Latam, stated that Brazilian companies were already harnessing cryptocurrency to pay their Chinese suppliers. In an interview, Serrano asserted that Latam countries harnessed crypto in different ways and that Argentine companies are using cryptocurrency to protect from crippling inflation numbers. Ripio CEO Sebastian Serrano: […]AI tokens slide as Nvidia jumps 7% — but ‘don’t expect that to last’
AI crypto tokens are “quiet now,” bleeding red across the board, but a crypto trader says that won’t last.
Artificial intelligence-linked crypto tokens have declined over the past 24 hours amid Nvidia’s (NVDA) share price surging over 7% on May 28, but the downturn won’t last forever, says a crypto trader.
“NVDA surging, AI coins quiet now but don’t expect that to last,” trader Matthew Hyland wrote in a May 28 X post.
Nvidia produces computer chips that AI companies are increasingly using to run their AI models. Crypto traders see its stock price as an indicator of how AI tokens could move, with NVDA’s performance a gauge of the market’s AI sentiment.
Don’t waste $6,400 on random gaming — Spend it on GameFi
Today’s gamers are going to spend — on average — more than $6,400 on purchases they can’t use outside of the platforms on which they were purchased.
Today’s gamers have spent hundreds — sometimes thousands — on in-game purchases that are supposedly theirs to keep. The reality is that they often have nothing that is lasting, and that isn’t fair.
New research shows the horrible reality of the situation. Gamers are set to spend $6,425.13 on virtual items over their adult lifetime without ever receiving anything physical to show for it, according to a study commissioned by Unstoppable Games and conducted by OnePoll.com. The survey asked 2,000 gamers and found that the average gamer will spend $8.74 per month — that’s $104.90 per year — on a total of three purchases. Character skins, weapons and extra lives were the most commonly bought items.
Statistics like these leave gamers feeling furious, or worse, like suckers. Of course, it’s fair to pay for entertainment — for experiences. But if you’re buying the virtual equivalent of a sword, skin, cloak or whatever else, it should be analogous to such an item in a physical game. You should be able to do with it as you wish.
Tokyo-Listed Metaplanet to Buy Additional Bitcoin for Its Treasury
Metaplanet, a publicly traded corporation listed on the Tokyo Stock Exchange, announced on Tuesday that its board of directors passed a resolution to purchase an additional 250 million yen (approximately $1.6 million) worth of bitcoin. For BTC held for long-term purposes, the company explained that it will record them at cost. Meanwhile, short-term holdings will […]Solana’s Penguiana $PENGU Token Launch On Raydium Surpasses $1M Valuation, Sets Stage For GUIANA NFT Minting
In a remarkable showcase of growth and enthusiasm, Penguiana, the unique penguin-themed meme coin on the Solana blockchain, has successfully launched its $PENGU token on Raydium. Buy $PENGU here on Raydium. This milestone comes after a highly successful presale, confirming strong investor interest and community support. As the $PENGU token gains traction on the market, […]Crypto Whales Abruptly Accumulate Ethereum-Based Altcoin Sending Volume to Highest Level in 22 Months: Santiment
Crypto whales have been gobbling up an Ethereum (ETH)-based fan engagement token, according to the analytics firm Santiment. Chiliz (CHZ) is a web3 infrastructure provider for sports and entertainment. The project’s native token, CHZ, is up nearly 2% in the past 24 hours, more than 14% in the past week and more than 27% this […]
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BlackRock adds own Bitcoin ETF to income and bond funds
One of the funds was BlackRock’s Strategic Income Opportunities Fund worth over $37.4 billion.
BlackRock’s income and bond-focused funds have bought shares of the asset manager’s own spot Bitcoin (BTC) exchange-traded fund (ETF) in the first quarter, regulatory filings show.
BlackRock’s Strategic Income Opportunities Fund (BSIIX) snapped up $3.56 million worth of the iShares Bitcoin Trust (IBIT) while its Strategic Global Bond Fund (MAWIX) made a $485,000 purchase, according to May 28 Securities and Exchange Commission filings.
The IBIT shares are a fraction of BSIIX and MAWIX’s investment portfolios, respectively worth $37.4 billion and 776.4 million.
Riot Proposes Acquisition of Bitfarms to ‘Create the World’s Largest Publicly Listed Bitcoin Miner’
Riot Platforms has announced a proposal to acquire Bitfarms to create “the world’s largest publicly listed bitcoin miner.” This offer includes cash and Riot stock, representing a 24% premium. Despite the initial rejection from Bitfarms’ Board, the proposal will be directly presented to shareholders. Riot asserts that the acquisition will establish a vertically integrated, geographically […]JPMorgan Chase Paying $100,000,000 Fine, Issues Rare Admission of Guilt in Settlement With US Financial Regulator
JPMorgan Chase has issued a rare admission of guilt and agreed to pay a $100 million fine to a US market regulator. The Commodity Futures Trading Commission (CFTC) says the trillion-dollar bank admits that it failed to monitor billions of orders from its traders and clients – a mandatory process designed to detect market misconduct. […]
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UK’s First Spot Bitcoin and Ethereum ETPs Begin Trading on the London Stock Exchange
The sixth-largest stock exchange in the world has officially begun trading Bitcoin (BTC) and Ethereum (ETH) exchange-traded notes (ETNs). According to the London Stock Exchange (LSE), today marks the launch of ETH and BTC ETN trading. “We are pleased to announce the launch of Crypto ETNs on the London Stock Exchange, effective 28 May 2024, […]
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Blackrock’s IBIT Nears Grayscale’s GBTC in Bitcoin Reserves
According to the latest statistics, U.S. spot bitcoin exchange-traded funds (ETFs) experienced ten consecutive days of positive inflows. Notably, during a third of those days, Grayscale’s Bitcoin Trust (GBTC) faced outflows and neutral activity. Conversely, Blackrock’s IBIT saw inflows on most of the ten trading days. Blackrock’s IBIT and Grayscale’s GBTC Neck and Neck in […]Judge dismisses Debt Box case, orders SEC to pay $1.8M in fees
The civil lawsuit initially filed by the commission in 2023 ended on May 28, with a judge ordering the SEC to pay attorney and receivership fees.
A federal judge has ordered the United States Securities and Exchange Commission (SEC) to pay roughly $1.8 million in attorney and receivership fees related to the regulator’s civil case against Digital Licensing, the firm doing business as Debt Box.
In a May 28 filing in the U.S. District Court for the District of Utah, Judge Robert Shelby signed off on an order requiring the SEC to pay roughly $1 million for attorney fees and costs and $750,000 for receiver fees and costs. The order came the same day as one dismissing the case without prejudice.
The judge cited a March ruling in which a court found the SEC “engaged in bad faith conduct” over a temporary restraining order to freeze Debt Box’s assets. The firm later filed documents with the court claiming that the commission’s information was inaccurate, leading to the threat of sanctions.
5 things Ethereum ETFs could mean for altcoins
What will Ethereum ETFs mean for your favorite altcoin projects? Some will clearly benefit, but others — like Solana — may lose.
Ethereum’s (ETH) price action has surprised just about everyone after the unexpected news that the application process was moving forward for spot Ether exchange-traded funds (ETFs). Most investors had well and truly resigned themselves to the fact that the Securities and Exchange Commission (SEC) would almost certainly reject the applications.
So, when Bloomberg’s esteemed ETF analysts suddenly upped their odds of an approval from 25% to 75%, ETH experienced the kind of daily price surge we hadn’t seen for quite some time. As rumors circulated, ETH’s price soared past multiple support levels, jumping some 20% to top $3,800.
This welcome — if unexpected — rally shows just how high the stakes are with the spot ETH ETF approval. Indeed, this means far more for decentralized finance (DeFi) than the approval of the spot Bitcoin ETFs. While the BTC ETFs cemented Bitcoin as an institutional asset, an ETH ETF would legitimize altcoins and propel them on the next leg of the bull market rally. Here’s what I think will happen now that the SEC has given a green light to the ETH ETF applications today.
Binance France changes ownership following regulator warning
Former CEO Changpeng Zhao cannot be Binance’s beneficiary if it wants to keep its French license.
Binance France has new shareholders who own 100% of the company equally between them. The move was necessary after the country’s Financial Markets Authority (AMF) sent the company a warning in December.
According to a blog post, the AMF informed Binance France that it had to take action in response to the problems that arose between the original beneficial owner and the United States Justice Department, Commodity Futures Trading Commission (CFTC) and the Treasury’s Financial Crimes Enforcement Network. In other words, former Binance CEO Changpeng Zhao could no longer own the company.
The post indicated that Zhao had already withdrawn from the company. He pleaded guilty to the U.S. charges in November and has been sentenced to four months in prison in the United States, although he has yet to begin his prison term.
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Why was Ryan Salame given a sentence longer than prosecutors recommended?
U.S. authorities had requested a judge impose a sentence of five to seven years on the former FTX Digital Markets co-CEO, but one ordered Ryan Salame to spend 90 months in prison.
Months after his guilty plea to prosecutors, former FTX Digital Markets co-CEO Ryan Salame learned he would likely be spending more than seven years in federal prison after pleading guilty to two felony charges.
On May 28, Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York considered sentencing recommendations from Salame’s legal team and prosecutors and ordered the former FTX executive to spend 90 months in prison. The judge’s decision reflected more time behind bars than even prosecutors recommended — up to seven years — and was considerably higher than what Salame’s lawyers requested: 18 months.
Taking to X for the first time since November 2022, Salame said the situation was “going to get interesting quickly” without directly referring to his sentencing and suggested he had no plans to flee the United States as “family [was] more important than anything.” A May 14 court filing stated that Salame had a child with his partner, Michelle Bond, in November 2023.
Luxor and Bitnomial launch first Bitcoin mining derivative in the US
The new Bitcoin Hashrate Futures, a regulated derivative for hedging and investing in Bitcoin mining, is now available in the US.
The post Luxor and Bitnomial launch first Bitcoin mining derivative in the US appeared first on Crypto Briefing.
European Commission Arm Says Convergence of Blockchain and AI Is ‘Upcoming Trend’ To Watch
European Union (EU) researchers think the convergence of blockchain technology and artificial intelligence (AI) could have “significant potential.” In a new report, the EU’s Blockchain Observatory and Forum (EUBOF), an initiative that monitors distributed ledger developments across the continent, probed the current regulatory status of crypto assets in the 27 EU member states, as well […]
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TRON Network Officially Supported By LayerZero
PRESS RELEASE. Geneva, Switzerland, May 28, 2024 – The TRON DAO has officially announced LayerZero support for the TRON blockchain, making TRON the second non-EVM chain to be integrated into LayerZero’s cross-chain interoperability protocol. This significant development allows TRON ecosystem developers to seamlessly expand their applications to over 70 other networks supported by LayerZero. LayerZero […]Altcoins Poised To Rip in First Major Market Expansion Since 2021, According to Crypto Analyst – Here’s His Outlook
A popular crypto analyst says technical indicators are suggesting altcoins are about to go parabolic. Pseudonymous analyst TechDev tells his 452,400 followers on the social media platform X that several indicators suggest the crypto market is replicating a 2020 pattern that led to a massive bull cycle. “The entire crypto market has just begun its […]
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‘Spraying’ Naira Notes Causes Depreciation, Warns Nigerian Anti-Graft Body
The Economic and Financial Crimes Commission (EFCC) has issued a warning against the practice of spraying naira notes at social events, emphasizing that it diminishes the dignity of the currency. In a recent post on its official X page, the Nigerian anti-graft agency urged residents to respect the naira and avoid ridiculing it. The EFCC […]
SHIB whale realizes 41,900% profit after three years
Investor scores a 41,900% profit on SHIB, turning $2,625 into $1.1 million, amidst a fluctuating meme coin market.
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