Cryptocurrency

Federal investigators, led by the U.S. Attorney’s Office in Manhattan, are scrutinizing whether the cryptocurrency has been used by third parties to fund illegal activities such as the drug trade, terrorism and hacking – or to launder the proceeds generated by them, the WSJ said, citing unnamed sources.Tether is the world’s largest stablecoin, a type of cryptocurrency designed to hold a fixed value over time.”There is no indication that Tether is under investigation,” Tether CEO Paolo Ardoino said on X.A spokesperson for the U.S. attorney’s office declined to comment. The Treasury Department has been weighing sanctions on Tether because of widespread use by sanctioned individuals and groups, the WSJ report said. The crypto firm has been under investigation for years in connection with potential bank fraud by backers, the report said.The Treasury Department’s Financial Crimes Enforcement Network did not respond immediately to requests for comment.”The article … carelessly glosses over Tether’s well-documented and extensive dealings with law enforcement to crack down on bad actors seeking to misuse tether and other cryptocurrencies,” Tether said in a statement about the WSJ report. More

Anthony Pompliano has reacted to the news, indicating that Microsoft’s consideration of Bitcoin comes from a broader recognition that holding cash in dollars may not be sustainable long term. The cryptocurrency is becoming more and more attractive as a digital store of value, says the entrepreneur, as more entities look for ways to save the value of their assets amid uncertain inflationary conjecture.Earlier, Pompliano expressed belief that as awareness of Bitcoin’s potential continues to grow, Wall Street will eventually acknowledge the opportunity cryptocurrency presents. This would all result in a significant influx of capital into Bitcoin, driving the price of Bitcoin even higher, he assured.The potential for Microsoft, currently the third-largest company globally, to follow in the footsteps of industry players like MicroStrategy is still up for debate as the decision to adopt a Bitcoin strategy remains uncertain. The proposal, brought forth by the National Center for Public Policy Research (NCPPR), asserts that corporations have a fiduciary duty to protect shareholder value from economic debasement. This raises questions about the company’s stance on integrating Bitcoin into its current vision.This article was originally published on U.Today More

This article was originally published on U.Today More

“As we told to WSJ there is no indication that Tether is under investigation. WSJ is regurgitating old noise. Full stop.” More

(Updated – October 25, 2024 2:18 PM EDT)

Cryptocurrency-Related Stocks Fall as Bitcoin Drops to $66,000Riot Platforms (NASDAQ:)MARA (MARA)Microstrategy, Inc. (NASDAQ:)Coinbase ()ProShares Bitcoin Strategy ET (BITO) CleanSpark (NASDAQ:)The reason for the drop wasn’t clear but it could be related to a WSJ report that said the US is probing Tether for sanctions and laundering violations. More

(Updated – October 25, 2024 2:03 PM EDT)

US Probes for Sanctions, Laundering Violations – WSJUS federal government is investigating Tether for possible violations of sanctions and anti-money-laundering rules.The probe is checking whether Tether has been used to fund illegal activities such as the drug trade, terrorism, hacking, or launder the proceeds.The investigation is run by Manhattan U.S. attorney’s office.The Treasury Department, meanwhile, has been considering sanctioning Tether because of its cryptocurrency’s widespread use by individuals and groups sanctioned by the U.S., including the terrorist group Hamas and Russian arms dealers. More

With the post, Saylor suggests that Microsoft could significantly increase its valuation by embracing Bitcoin. Specifically, the MicroStrategy executive chairman mentioned the “next trillions, highlighting his confidence in Bitcoin as a transformative asset for all who embrace it” — individuals or institutional investors.Saylor’s invitation to Nadella to “call him,” and tagging the Microsoft CEO to the post, implies he has some strategy or deep insights to share. These may include how Microsoft could integrate Bitcoin into its financial strategy and deliver huge profits to its shareholders.This appears to have emerged from a conversation between Michael Saylor and Tesla (NASDAQ:TSLA) CEO Elon Musk prior to the car making a purchase of BTC in 2021. Today, Tesla has confirmed that it still holds some of its Bitcoin stash.As of this writing, Nadella has not responded to Saylor’s post. There have also been no indications that he has called Saylor. However, many have encouraged the Microsoft CEO to make the call and hear Saylor out.As earlier reported by U.Today, Saylor believes a Bitcoin strategy is essential for anyone to win in the financial space. According to Saylor, since MicroStrategy integrated Bitcoin into its strategy, it has outperformed every competitor, including Nvidia (NASDAQ:NVDA).Time will reveal whether Saylor’s message will influence the voting pattern on Dec. 10. This article was originally published on U.Today More

Valhalla, Floki’s PlayToEarn Massively Multiplayer Online Role-Playing Game (MMORPG) blockchain game, has teamed up with the Hong Kong International Cricket Sixes as its official partner, marking the much-anticipated return of the tournament after a seven-year break.From November 1 to November 3, top international teams will face off in this fast-paced cricket format at the Tin Kwong Road Recreation Ground.The Cricket Sixes has been a celebrated event since its debut in 1992, with legendary players like Sachin Tendulkar, MS Dhoni, Shane Warne, and Sanath Jayasuriya gracing the field over the years. Valhalla’s partnership with the Sixes reflects the synergy between competitive sports and the blockchain gaming world. On the ground, key branding assets will include ground perimeter boards, mid wicket logo mats, and the presentation backdrop, ensuring strong visibility for both Valhalla and the Sixes event.This year’s tournament will feature 12 teams divided into four groups. In Group C, India, led by stars like Robin Uthappa and Kedar Jadhav, will face off against Pakistan and the UAE. Group A includes South Africa, New Zealand, and host nation Hong Kong. Group B brings together Australia, England, and Nepal, while Sri Lanka, Bangladesh, and Oman make up Group D. The top two teams from each group will progress to the quarterfinals, with 29 matches set to take place over three action-packed days.About Hong Kong SixesThe Hong Kong Cricket Sixes is a six-a-side international cricket tournament held at the Kwong Road recreational ground from 1st to 3rd Nov. The 2024 edition will be conducted after a 7 year gap and 12 of the best cricketing nations will battle it out for top honors. Uses can learn more at www.hkcricket.orgAbout ValhallaValhalla is a blockchain-based MMORPG inspired by Norse mythology, offering players the chance to discover, tame, and battle with creatures called Veras. The game features a player-driven economy and a hexagonal battlefield designed for dynamic combat. Users can learn more at Valhalla.game.Website | YouTube | Telegram | Instagram | TikTok | Discord | Facebook (NASDAQ:META) | Reddit | TwitchContactCommunity Relations OfficerPedro VidalFLOKImarketing@floki.comThis article was originally published on Chainwire More