Cryptocurrency

According to an Aug. 23 report from The Times of Israel, the national police force recommended to prosecutors that Hogeg be charged with fraud, theft, money laundering and sex crimes, accusing the Israeli citizen of raising $290 million from investors for crypto projects under false pretenses. The entrepreneur had been previously detained by Israeli authorities in November 2021 for allegedly engaging in unlawful activities, including fraud involving cryptocurrency, for which he spent roughly a month under house arrest. Continue Reading on Coin Telegraph More

In the second stage of the recovery process, the protocol will raise funds through an initial DEX offering (IDO), and these funds will be used to pay for audits and further development. At the same time that the IDO is occurring, users will be issued a “debt token” representing the remaining assets they are owed by the protocol. This debt token will grant them the right to USD Coin (USDC) profits generated by Cypher in the future, allowing the protocol’s losses from the exploit to eventually be paid back to users.Continue Reading on Coin Telegraph More

According to the Aug. 23 announcement, DeSalvo allegedly raised $623,388 from 222 investors through sales of his own Blazar token from November 2021 to May 2022. DeSalvo proclaimed Blazar would “replace traditional state pension systems” for police, firefighters, and paramedics alike, thereby providing lucrative returns. DeSalvo allegedly told investors: Continue Reading on Coin Telegraph More

Bitcoin’s (BTC) sideways price action since the sharp fall on Aug. 17 shows that the bulls and the bears are unsure about the next directional move. Therefore, it is better to wait for the breakout to happen before waging large bets. Continue Reading on Coin Telegraph More

Several economic factors have contributed to this decline. As interest rates have surpassed the 5% mark and inflation remains above the 2% target, borrowing costs for both families and businesses have risen, placing pressure on consumer spending and economic expansion. That means less money is available for savings, which could force people to let go of their investments just to cover monthly bills.Continue Reading on Coin Telegraph More

The crypto exchange announced on Aug. 22 that USDT was being adopted as the new “base asset” for all transactions, and its partnership with MoonPay allows a path for users to transact in U.S. dollars.Continue Reading on Coin Telegraph More

KresusLabs has made its presence felt in the Web3 space throughout 2023 after closing a $25 million funding round led by Cameron Winklevoss in early March and launching its “SuperApp” in May. Continue Reading on Coin Telegraph More

Semenov and Storm are being charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money transmitting business in an indictment unsealed on Aug. 23. The first two counts each carry a maximum sentence of 20 years in prison. The money transmitting charge is punishable by up to five years’ imprisonment. Continue Reading on Coin Telegraph More