The court filing says FTX seeks to recover $157.3 million that it claims was fraudulently withdrawn in the hours before the exchange filed for bankruptcy.Continue Reading on Coin Telegraph More
The move to invest in Northern Data Group is not Tether’s first foray into sectors beyond fintech. The company, which has an $83 billion market capitalization, has previously invested in energy production, bitcoin mining, and communications technology. This recent investment underscores Tether’s commitment to supporting emerging technologies and expanding its global footprint.Northern Data Group specializes in resilient data storage and high-performance computing, areas that align with Tether’s forward-looking perspective. Both companies aim to develop accessible solutions that benefit communities worldwide.Paolo Ardoino, Tether’s Chief Technical Officer, expressed excitement about the venture into new technological frontiers. He also reassured stakeholders that the investment would not impact Tether’s reserves or customer funds. This assurance is particularly significant given Tether’s controversial past marked by concerns over its reserve transparency which led to legal challenges and increased regulatory oversight.In addition to its investment strategies, Tether has been making headlines for other recent developments. The firm has launched a program offering USDT stablecoin loans to its customers, a move that contradicts its previous commitment made just a year ago to abstain from such practices. This decision has drawn attention from both industry stakeholders and regulators.Tether’s global endeavors are evident through various collaborations across different countries. Notable partnerships include KriptonMarket in Argentina aimed at furthering the digital currency landscape in South America and a Memorandum of Understanding (MOU) in Georgia to strengthen the peer-to-peer infrastructure in the country. Ardoino also hinted at some of Tether’s mining activities branching out to Latin America, signaling its intent to tap into the potential of emerging economies and their rapidly evolving digital infrastructure.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
As the Markets in Crypto-Assets Regulation (MiCA) Act continues on the road to implementation by December 2024, an EPRS report cited the need for establishing a tighter regulatory framework in non-EU jurisdictions: Continue Reading on Coin Telegraph More
According to a CNBC report, the MHA aims to combat crypto-related crime through the Cryptocurrency Intelligence and Analysis Tool (CIAT). The project is spearheaded by an MHA division called the Indian Cyber Crime Coordination Centre, which is dedicated to investigating and addressing cybercrime. Continue Reading on Coin Telegraph More
Scaramucci, who previously served as the White House communications chief, shared his views during a fireside chat titled “Why I’m still bullish.” He emphasized the potential role of the younger generation in mainstreaming Bitcoin, comparing it to how his generation embraced the internet. “The next 10 to 20 years are remarkably bullish [for Bitcoin],” Scaramucci said.While acknowledging challenges in the macro environment such as higher interest rates, an adversarial Securities and Exchange Commission (SEC) chief, and prevailing negative sentiment surrounding crypto adoption, Scaramucci remains confident. He firmly believes that widespread adoption of Bitcoin will materialize once Bitcoin exchange-traded funds (ETFs) become commonplace among institutional investors.Scaramucci further added that he expects every Wall Street firm to eventually have a Bitcoin ETF in their offerings. “When Wall Street has something in their arsenal, they sell it to their clients… The market [for Bitcoin] is going to widen,” he stated. He underscored the transformative potential of Bitcoin ETFs, noting that their availability will lead to massive adoption and further market expansion.As of Wednesday, BTC was trading at $27,142, up 4.56% in the last 24 hours according to Benzinga Pro. Bitcoin peaked at $68,789 in November 2021 but has since declined by about 61%.In addition to his optimism about Bitcoin’s future, Scaramucci acknowledged certain macro factors that could hamper Bitcoin’s growth. These factors include higher interest rates, negative sentiment around crypto, and the stance of SEC Chief Gary Gensler who recently stated that there are many “hucksters” and “fraudsters” in the crypto space.Despite these challenges, Scaramucci’s bullish outlook on Bitcoin remains unchanged, with a particular focus on the potential impact of Wall Street’s adoption of Bitcoin ETFs.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
From his early long-form generative series “Dragons” on the Tezos blockchain to the highly sought-after “Anticyclone ArtBlocks collection that currently commands a 5 ETH floor, Mapan has a unique way of capturing the hearts and minds of collectors. But many people in the public still dont understand what generative art even is. Mapan has a unique way of explaining the often misunderstood genre by boiling it down to a piece of paper, a crayon and a die.Continue Reading on Coin Telegraph More
Last week’s Token2049 conference in Singapore was a life-changing experience for some; for others the event did not meet expectations, but for a select group of individuals, the imminent prospect of being pursued by law enforcement meant they had to abandon their booths and flee the event.Continue Reading on Coin Telegraph More
In a Sept. 21 order, Circuit Judges John Walker Jr., Denny Chin, and William Nardini denied SBF’s motion for early release, which his team argued largely was due to First Amendment issues. The ruling said Lewis Kaplan — the judge overseeing SBF’s criminal case — had “correctly determined” that Bankman-Fried’s speech amounted to witness tampering.Continue Reading on Coin Telegraph More
