Crypto News on 15 Nov, 2024

     Catch up on all the key developments in the cryptocurrency world from October 2, 2024. On this day, the crypto market saw significant movements, regulatory updates, and breakthrough announcements from leading blockchain projects. Explore in-depth analyses, price fluctuations, and expert commentary on trending coins and tokens. Whether you're tracking Bitcoin's latest performance or the rise of altcoins, our detailed coverage ensures you're always informed about the latest in crypto.

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Manhattan US Attorney to scale back crypto cases, prosecutor says

NEW YORK : The U.S. Attorney's Office in Manhattan will devote fewer resources to policing cryptocurrency crimes after securing several major convictions, including that of FTX founder Sam Bankman-Fried, a senior prosecutor said on Friday. Scott Hartman, co-chief of the securities and commodities task force at the Southern District of New York, gave his assessment one day after President-elect Donald Trump's former U.S. Securities and Exchange Commission chair Jay Clayton to become the U.S. attorney there. Hartman said the office would not ignore crypto cases, but has fewer prosecutors working on them than when digital asset prices collapsed in 2022, a period known as "crypto winter." "You won't see as much crypto stuff coming out of at least the SDNY in the future," Hartman said at a conference hosted by the Practising Law Institute in New York. "We brought a lot of big cases in the wake of the crypto winter - there were a lot of important fraud cases to bring there - but we know our regulatory partners are very active in this space," Hartman said, referring to agencies such as the SEC and the Commodity Futures Trading Commission. Clayton led the SEC during Trump's first term as president from 2017 to 2021. He would replace Damian Williams, an appointee of President Joe Biden, as U.S. attorney. While at the SEC, Clayton pursued some crypto-related cases, but was less aggressive at policing the industry, which was smaller at the time, than current SEC chair Gary Gensler. Many cryptocurrency executives supported Trump's campaign, believing Gensler's crackdown went too far.

 2024-11-15 15:47:45

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Russia to ban crypto mining in several regions

Electricity consumption by cryptocurrency mining could be useful, but only in areas where additional power capacity is available, Deputy Prime Minister Aleksandr Novak, whose portfolio includes energy, told RBK on Friday. He was commenting on a recent initiative by the Russian government to impose restrictions on crypto mining in several regions facing electricity shortages. Novak explained that crypto mining has a “positive effect on the evenness of power load and leads to a specific reduction in costs.” However, it has a downside when it “eats up” all available capacity, impeding the connection of new customers to the grid. Kommersant cited a government document as saying that crypto mining could be restricted or completely banned in some regions in the Far East, southwestern Siberia, and Southern Russia, where miners have used up all available power capacity, from December this year until 2031. Novak confirmed the plans, clarifying that mining will be limited in regions with existing or projected power shortages to ensure “socially important consumers” could be plugged in. “In November we adopted a legal regulation,” the deputy prime minister said. “And we plan to add regions such as Irkutsk Region, its southern part, Buryatia, Transbaikal, and so on, to the list where mining is prohibited, because there is no free capacity there.” According to official estimates, over the past two years cryptominers have increased their consumption by 14%, exhausting available resources. Last month, Deputy Energy Minister Yevgeny Grabchak said that Russia’s energy sector is in a situation where “we’re parasitizing” on the legacy of the Soviet Union, and that it will take years to develop new capacity. Earlier this year, Russian President Vladimir Putin blamed cryptominers for shortages in Buryatia and Irkutsk regions, warning that “uncontrolled growth in electricity consumption for cryptocurrency mining could lead to power shortages.” The latest initiative comes after Russia adopted a law in October outlining mining activity rules for digital currency, including restrictions on entities or individuals engaged in the power industry. Russia previously legalized virtual currency mining for legal entities and entrepreneurs. The legislation introduced concepts such as digital currency mining, mining pools, and mining infrastructure operators, and defined the rights and liabilities of participants in the crypto mining market. Putin raised the issue of regulating cryptocurrencies and digital assets earlier this year, calling it a promising economic area and urging the creation of conditions for the circulation of digital assets, both domestically and with foreign partners.

 2024-11-15 14:35:57

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Congress has not authorized SEC to regulate crypto, Kentucky AG says

to top close Video This video is playing in picture-in-picture. Mornings With Maria November 15, 2024 09:41 Congress has not authorized SEC to regulate crypto, Kentucky AG says Kentucky Attorney General Russell Coleman discusses attorneys general suing the SEC over cryptocurrency regulations, the call for a crackdown on connected vehicles built in China as well as a lawsuit against TikTok. Facebook Twitter Email Copy to clipboard Copy to clipboard Tags WHAT TO WATCHSHOWSMORNINGS WITH MARIA | LATEST EPISODESMORNINGS WITH MARIAPOLITICSSECSOCIAL MEDIA

 2024-11-15 14:24:22

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Marbella drug traffickers lose €16 million in cryptocurrency in record seizure

THREE Dutch people have been arrested in the Marbella area over a €16 million cryptocurrency scam that mainly fleeced criminals. The Policia Nacional cooperated with their counterparts in the Netherlands in the largest-ever seizure of virtual currencies in Europe linked to drug trafficking money. Victims from various European countries were defrauded, including members of international criminal gangs based on the Costa del Sol who laundered cash obtained from their illicit activities. Spain leads the world’s cryptocurrency property market: Almost 300 homes are purchasable with Bitcoin or Ethereum in Marbella, Alicante and elsewhere Leader of giant international crypto scam who scammed ‘many’ Brits and other northern Europeans’ arrested in Palma, Mallorca Kidnap, crypto and Ukrainians: The multimillion-euro scandal that looks to have defrauded hundreds in Spain and Gibraltar Three searches in Marbella and Mijas as well as in the Netherlands were made by authorities. Police seized more than €850,000 in cash, 16 high-end watches, a large number of mobile phones and jewellery valued at more than half a million euros. The leader of the scam moved to Marbella to launder the money he obtained from the crypto con by buying valuable items and properties that he put in the name of third parties. Investigations also focused on his parents, who allegedly helped him with the money laundering. He adopted countless security measures including changing his address weekly as he used different holiday rental homes, taking computer equipment with him to continue his scamming. The man used instant messaging phone apps to advertise himself and gain the trust of his victims who made transfers to him to convert their cryptocurrencies into conventional currency. He reeled in people- mainly drug traffickers- and gained their trust by making satisfactory low amount transfers. Once the sums got bigger, nothing was given back to clients as he boosted his own assets. His constant moving around made it difficult for police to locate him as well his tracking his financial activities as he made transfers to password-protected ‘cold wallets’. The scammer was eventually located and arrested last September in Marbella and faces extradition to the Netherlands.

 2024-11-15 14:00:00

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Bybit Crypto Titans: November Arena Boasts 55,000 USDT in Rewards

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 2024-11-15 14:00:00

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SEC's Gary Gensler has created a 'hostile regulatory environment' towards crypto: Rep. French Hill

SEC's Gary Gensler has created a 'hostile regulatory environment' towards crypto: Rep. French Hill Rep. French Hill, R-Ark., discusses the U.S. debt deficit as Elon Musk and Vivek Ramaswamy spearhead the Department of Government Efficiency, states suing the SEC over its crypto crackdown and the government's regulatory efforts.

 2024-11-15 13:47:53

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Bitfinex hacker receives five-year sentence for record-breaking crypto heist

The hacker behind one of the biggest-ever cryptocurrency heists will serve five years in prison for conspiring with his wife to launder billions in stolen Bitcoin. Ilya “Dutch” Lichtenstein was sentenced in Washington federal court Thursday after he admitted to hacking the Bitfinex crypto exchange in 2016 and stealing almost 120,000 Bitcoin tokens. Lichtenstein and his wife Heather Morgan were arrested in 2022, and in August last year both pled guilty to conspiring to commit money laundering. The stolen cryptocurrency, worth around $71 million at the time of the theft, had soared in value to approximately $4.5 billion by the time Lichtenstein and Morgan were arrested. Valued at today’s prices, the stolen funds would be worth an even more staggering sum of over $10 billion. According to the US Department of Justice, Lichtenstein and Morgan “employed numerous sophisticated laundering techniques” to hide the stolen funds, including using fictitious identities, converting the Bitcoin into other cryptocurrencies, buying gold, and depositing and withdrawing the proceeds at various darknet markets and cryptocurrency exchanges. Lichtenstein’s five-year sentence is notably lower than the maximum 20-year penalty for conspiracy to commit money laundering. Morgan, also known by her online rap persona “Razzlekhan,” is due to be sentenced on November 18th, and is expected to face 18 months in prison for her part in the heist.

 2024-11-15 13:44:02

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All eyes on Bitcoin (BTC), Dogecoin (DOGE), and Rexas Finance (RXS) as Trump wins U.S. Election: bull run price predictions

The recent election of Donald Trump as U.S. president has reignited interest in the cryptocurrency market, and investors are eagerly waiting to see what effects a Trump presidency may bring to digital assets. Bitcoin, Dogecoin and Rexas Finance are in the forefront of this excitement as they each have their own signs of growth and potential. As Bitcoin smashed through a new high of $75,345, the market is abuzz with future price predictions and investment opportunities. Bitcoin’s Surge and Current Price After the election aftermath, bitcoin has been on a remarkable upward trajectory, breaking through its recent high, fetching $75,345. At present, Bitcoin’s price stands at $74,677, witnessing a pullback, but that is still solid proof of the cryptocurrency’s bullish sentiment among investors. So many expect a more favorable stance towards cryptocurrencies from the Trump administration and it could position the U.S. as a global leader in the digital asset space. Another major player in the cryptocurrency market, Dogecoin, is also witnessing price changes. At the time of writing, Dogecoin is trading at around $0.1984, down from it’s all-time high but well above its lows of last year. Thanks to its vibrant community and celebrity endorsements, the meme-inspired cryptocurrency continues to make headlines in discussions about altcoins. Despite lacking growth potential similar to some investments, Dogecoin will continue to be a staple in a lot of portfolios as it is already in existence and backed by a community. Its price movements can be correlated with broader market trends or social media sentiment, which makes it a good candidate to keep an eye on as the market evolves. Rexas Finance: A Rising Star Bitcoin and Dogecoin are generating plenty of excitement, but Rexas Finance (RXS) is a stand out opportunity for investors seeking to make big returns. Rexas Finance, currently in pre pre-sale phase, raised over $6m in such a short period. RXS is currently presale with a price of $0.070 that will rise to $0.080 in the next stage. The strong demand shows that investors are confident in Rexas Finance’s innovative tokenization of real world assets. Rexas Finance intends to break the mold in the world of asset management by allowing users to tokenize any real world asset, from real estate to art, on a global scale. Not only does this unique proposition add liquidity, but also democratizes the ability for investment opportunities that were once exclusive to institutional investors. RXS could experience astronomical growth, according to analysts, with some predicting $21 before January 2025. Given the combination of a strong presale performance, a real world utility, as well as a supportive community, Rexas Finance looks like an appealing investment opportunity for those that wish to cash in on the already bullish cryptocurrency trend. The Impact of Trump’s Election on Crypto Trump’s victory has also provided a new charge to the cryptocurrency market, with many investors optimistic that his administration will bring about a more beneficial regulatory environment for digital assets. Crypto enthusiasts have been clamoring for clarity and support from government officials, and the crypto advocates found resonance in his commitment to make America “the crypto capital of the planet.” This serves as a valuable shift in sentiment for projects such as Rexas Finance, which rely heavily on regulatory clarity and innovation. Cryptocurrencies are likely to gain increased adoption with the Trump administration prioritizing technological advancements and economic growth through digital currencies. Furthermore, Bitcoin is breaking records and altcoins like Dogecoin are also in the limelight, making Rexas Finance stand out because of its unique business model which revolves around tokenization of real world assets. Furthermore, this approach secures RXS’s position in the market, which, through seeking new investors in the crypto space, will further capitalize the possibilities of gaining substantial profits. Website: https://rexas.com Whitepaper: https://rexas.com/rexas-whitepaper.pdf Twitter/X: https://x.com/rexasfinance Telegram: https://t.me/rexasfinance DISCLAIMER – “Views Expressed Disclaimer: Views and opinions expressed are those of the authors and do not reflect the official position of any other author, agency, organization, employer or company, including NEO CYMED PUBLISHING LIMITED, which is the publishing company performing under the name Cyprus-Mail…more

 2024-11-15 13:31:10

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Russian energy ministry proposes to ban cryptocurrency mining in some regions

MOSCOW, November 15. /TASS/. Russia’s Energy Ministry has proposed banning cryptocurrency mining in several regions starting in December 2024. The issue will be considered at a governmental commission on November 18, a source in the office of Deputy Prime Minister Alexander Novak told TASS. "Indeed, there is a proposal from the Energy Ministry, we will consider [it] at a [meeting of] the governmental commission on November 18," the source said. "The Energy Ministry sees it as prudent to ban the mining of digital currency in areas facing critical regulatory and fiscal parameters and regions with subsidized electricity prices during forecasted shortages," the ministry told TASS. The government has the right to ban mining in certain regions or certain territories, the source stressed, adding that the governmental commission makes decisions based on advice from the Energy Ministry and heads of regions. The Kommersant daily wrote earlier about plans to ban people from mining crypto in a number of regions citing files to the governmental commission on energy sector development. The proposal would ban mining in a number of cities and regions in the Irkutsk Region, Buryatia and the Trans-Baikal Region from December 1, 2024 to March 15,2025, according to the publication. After that it will cover peak demand periods in those regions, from November 15 to March 15, each year through 2031. The ban may also be introduced in the Karachay-Circassian Region, the Kabardino-Balkaria Region, the North Ossetia-Alania Region, Ingushetia, Chechnya, Dagestan, the Kherson Region, the Zaporozhye Region, the Donetsk People’s Republic (DPR) and the Lugansk People’s Republic (LPR).

 2024-11-15 13:27:27

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US hacker sentenced to five years in the slammer for laundering the proceeds of nearly 120,000 stolen bitcoin worth $10,800,000,000 at today's prices

Cyber heists have lost some of the romance of the old-fashioned kind, haven't they? Give me a stripey sweater and a swag bag any day of the week. Still, they appear to be far more lucrative than your old-fashioned Dog Day Afternoon histrionics, as a US hacker has just been sentenced to five years hard time for his role in the theft of 120,000 bitcoin, which would equate to just under $10.8 billion's worth of the cryptocash today. Ilya Lichtenstein pled guilty to money laundering charges brought against him for the 2016 Bitfinex cryptocurrency hack, in which nearly 120,000 of precious Bitcoin was swiped off the exchange over the course of more than 2,000 fraudulent transactions (via BBC News). Lichtenstein is said to have enlisted the help of his wife, Heather Morgan, to launder the ill-gotten gains using a variety of methods, but both were apprehended in 2022. The couple utilised a complicated network of fictitious online accounts, automated transactions, and dark web marketplaces to convert the cryptohaul into what they hoped would be untraceable funds, including exchanging a portion of them for gold coins. Morgan herself seems to have been less than discrete about her ballooning income, as she posted multiple hip hop videos under the alias Razzlekhan, calling herself "the infamous crocodile of Wall Street" who's "more fearless and shameless than ever before." Morgan is currently out on bail and is scheduled to be sentenced on November 18. At the time of the theft, 120,000 bitcoin would have been worth around $71 billion, but thanks to the, err, unpredictable nature of the crypto market, it was worth more than $4.5 billion at the time of the couple's arrest. That figure has ballooned since the most recent Bitcoin price surge, and at the time of writing would be worth approximately 10.8 billion dollars. That may have changed by tomorrow, or indeed in the next five minutes. Crypto be crazy, y'all. Quite the lucrative haul then, and they would have gotten away with it too if it wasn't for that meddling, err, US government. Deputy Attorney General Lisa Monaco said at the time of the arrests that the financial seizure was the biggest in the history of the US Department of Justice. It just goes to show, crime doesn't pay. Or rather it might, briefly, before the full weight of the DOJ comes tumbling down on your heads and your wife's hip hop career starts going viral for boasting about your financial prowess. There's probably a lesson to be learned here, but I'll be darned if I can find it.

 2024-11-15 13:21:02

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EBA Establishes Stricter Oversight on Activities Concerning Crypto-Assets

The European Banking Authority (EBA) is ramping up its regulatory oversight of the crypto sector. In a recent development, the EBA has issued two detailed sets of guidelines to govern the operations of Crypto-Asset Service Providers (CASPs) and Payment Service Providers (PSPs). As part of these directives, the EBA has emphasised the need for compliance monitoring agencies to intensify efforts to mitigate risks that could harm consumers. The agency has asked payment service providers to screen all firms looking to register their businesses in European nations. The EU lawmakers have asked virtual digital asset service providers (VASPs) to conduct multi-level due diligence including a thorough risk assessment. “EU regulations on restrictive measures do not prescribe how financial institutions should comply with restrictive measures regimes but highlights the need to put in place the required due diligence procedures and conduct the appropriate checks in order to avoid breaches of the Regulation,” a post by the EBA said.Samsung Wins Patent for a Tri-Fold Smartphone With Specialised Barrier Layer for Improved Durability The first set of guidelines provides fintech firms with instructions on aligning their governance structures and internal policies. The second set outlines the steps these firms must take to process crypto transactions in compliance with legal requirements. “Carry out a restrictive measures exposure assessment, which should inform institutions' decision on the types of controls and measures they need to apply to comply effectively with restrictive measures,” the directive mentioned. The document further advises fintech and Web3 platforms to implement a screening system that aligns with the restrictive measures mandated by EU regulators. The finalised guidelines will be translated into all official EU languages and published on the EBA website, though the timeline for release remains undisclosed. The EU has been actively regulating the virtual digital asset (VDA) space for some time. Last year, it finalised its MiCA regulations, which establish clear dos and don'ts for Web3 businesses. Given the high volatility of crypto assets, governments worldwide, including the EU, are focused on safeguarding their citizens from potential financial risks.

 2024-11-15 13:14:24

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All About Korean Crypto Mania and the ‘Kimchi Premium’ - Bloomberg

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 2024-11-15 12:39:40

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18 States Sue SEC Over Crypto 'Regulatory Landgrab,' Gensler Releases Statement Amid Exit Calls

Eighteen U.S. states, led by Nebraska and Kentucky, have filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) "for overstepping its authority" through its "unlawful" regulations targeting the cryptocurrency industry.On Thursday, Nebraska Attorney General Mike Hilgers said the incumbent administration's SEC "is introducing more red tape into this innovative and important financial sphere," referring to the crypto sector.Montana, Texas, Arkansas, West Virginia and Utah are among other states that joined the suit.States Blast SEC's Regulatory OverreachThe lawsuit referred to the industry as a "promising" one that has encouraged innovation, created new jobs and provided more financial service access to Americans."The SEC's sweeping assertion of regulatory jurisdiction is untenable," the lawsuit stated, adding that its "sweeping claim of agency dominion reaches far beyond anything Congress authorized in any statute, and certainly far beyond anything Congress authorized with the clarity that would be necessary to evince its intention to grant such extraordinary regulatory power."The states went on to criticize the SEC for its "regulatory landgrab" that has resulted in some crypto firms "threatened" by the financial regulator's actions to go for "quick settlements" while others were forced to move their business overseas.They claim that the SEC's assertion of its jurisdiction over digital assets "without congressional authorization" not only chills the development of innovative regulatory frameworks for the industry but also robs states of their "proper sovereign role."The complaint was filed in cooperation with DeFi Education Fund, a nonprofit that seeks to educate policymakers and the general public about the potential of decentralized finance.What the 18-Strong Coalition WantsIn particular, the states want the court to declare that a "digital asset transaction is not an investment contract" under U.S. securities laws if it doesn't transfer any stake "in any enterprise that the seller or anyone else has an obligation to manage for the asset owner's benefit and share resulting profits."They also urged the court to declare that the SEC violated the Administrative Procedure and should be stopped from bringing further enforcement actions based "on the failure of digital asset platforms facilitating such secondary transactions to register."Is Gensler Ready to Leave the SEC?News of the lawsuit came as Gensler reflected on his time as the SEC chief, with remarks that seemed to suggest he may leave his post.In his Thursday statement, he first defended the actions of the regulatory agency toward crypto under his leadership, saying that "not every asset is a security" and that his SEC has "never treated Bitcoin as a security."He went on to say that the crypto sector is a field where "there has been significant investor harm" over the years and has become a possible use case for illicit activities."It's been a great honor to serve with them [SEC staff]," he wrote in his concluding remarks, adding that he has "been proud to serve" with his colleagues in the agency.Many crypto users have been calling on Gensler to resign now that work is underway for the administrative turnover to the Donald Trump government. The president-elect promised earlier this year that he will "fire" Gensler on his first day at the White House.Since 2016, the former SEC chairs have resigned within weeks after a new president was elected.

 2024-11-15 12:05:01

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In US First, Pennsylvania Lawmaker Introduces State Bitcoin Strategic Reserve Act

Pennsylvania may soon establish Bitcoin as a strategic reserve asset after Republican State Rep. Mike Cabell introduced the Pennsylvania Bitcoin Strategic Reserve Act – the first of its kind in the country.Cabell introduced the bill to the Pennsylvania House of Representatives on Thursday. If passed, it will allow Pennsylvania's treasury to allocate up to 10% of its $7 billion State General Fund, Rainy Day Fund and the State Investment Fund in Bitcoin.$BTC As a Hedge Against InflationCabell said he introduced the bill to protect state funds from the consequences of inflation, noting how using Bitcoin as a hedge can potentially "offer stability in uncertain economic times.""The Pennsylvania Bitcoin Strategic Reserve Act is a visionary step toward securing our state's financial future. By integrating Bitcoin into our reserves, we're not only protecting Pennsylvania from inflation's relentless impact but also positioning our state as a leader in financial resilience and innovation," Cabell said.Cabell introduced the bill to the Pennsylvania House over a week after Donald Trump won the presidency. Hours after the race was called for the former president, Trump ally and GOP Sen. Cynthia Lummis reaffirmed her commitment to getting Bitcoin approved as a national strategic reserve asset.Lummis previously announced the plan at the 2024 Bitcoin Conference. Some weeks later, Trump said BTC can be used to pay off the United States' multi-trillion-dollar debt.$BTC Community Lauds DevelopmentThe Satoshi Action Fund, a BTC mining advocacy nonprofit, said the move should provide the state with a "robust investment strategy" that will also promote flexibility in terms of state fund investment choices."Bitcoin acts as a check and balance against monetary debasement. With a strategic Bitcoin reserve, the state of Pennsylvania can protect its economy and its people from inflation and financial hardship. We are proud to help the state of Pennsylvania be the first in the nation to introduce this groundbreaking legislation," said Dennis Porter, CEO of the Satoshi Action Fund.Many other crypto users and prominent figures in the space have also hailed the bill's introduction, saying other U.S. states should follow suit.Several X users were unsure of whether the news is as big as some Bitcoiners paint it to be, given how proposed legislation can still "be killed on arrival or shot down."Still, Pennsylvania's House of Representatives has had a history of passing a cryptocurrency bill. Just last month, the House overwhelmingly passed the Bitcoin Rights bill, which provides clarity on self-custody rights, state transaction taxes, and BTC payments.

 2024-11-15 12:00:03

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Delhi Police Arrests West Bengal Man For Opening A WazirX Hack-Linked Fake Crypto Account

The Delhi Police has arrested a West Bengal man in connection with the cyber theft of Rs. 2000 crore from cryptocurrency exchange WazirX, reported India Today on November 14. The accused, SK Masud Alam, was arrested from West Bengal’s East Midnapore district by the Delhi Police’s Special Cell. The chargesheet filed by the police alleges that Alam opened a WazirX account under the fake name of Souvik Mondal and sold it via Telegram to another individual, M Hasan, who then allegedly used it to breach the crypto exchange. The chargesheet also alleged that Liminal Custody, a software provider used by WazirX to for secure storage of digital currencies, resisted cooperation with the authorities. The police plan to address Liminal’s role in a supplementary chargesheet as the investigation progresses. However, Liminal appeared to reject these accusations, stating that it cooperated with the authorities and even met directly with officials from the Delhi Police’s Intelligence Fusion and Strategic Operations (IFSO) division. The investigation also found no evidence of unauthorised access to WazirX’s systems, either locally or remotely. Background to WazirX hack The Delhi Police’s statement appears to strengthen WazirX’s position in a long running blame-game between the exchange and Liminal. WazirX suffered a cyberattack in July this year, allegedly by North Korean hackers who stole over $230 million. The crypto exchange initially alleged that the breached wallet used Liminal’s custody infrastructure for security, while Liminal itself contradicted this claim. The company stated on X, “We can confirm that Liminal’s platform is not breached and Liminal’s infrastructure, wallets and assets continue to remain safe. It is also pertinent to note that all WazirX wallets created on the Liminal platform continue to remain secure and protected.”

 2024-11-15 11:50:33

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It's ‘Crypto Bubble’ Vs Buffett's Old Economy: Markets Daily - Bloomberg

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 2024-11-15 11:38:47

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It's ‘Crypto Bubble’ Vs Buffett's Old Economy: Markets Daily - Bloomberg

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 2024-11-15 11:38:47

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Sohn Conference Novogratz On What Next For Crypto After Bitcoin Euphoria

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 2024-11-15 11:20:31

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Hacker jailed for laundering $1,000,000,000 in stolen Bitcoin with rapper wife

Ilya Lichtenstein hacked into the Bitfinex network in 2016 and stole around 120,000 bitcoin which he laundered with wife Heather Morgan’s help (Picture: Alexandria Sheriff’s Office/Instagram) A tech entrepreneur has been jailed for laundering funds stolen from one of the biggest ever cryptocurrency thefts. Ilya Lichtenstein, 35, hacked into the Bitfinex network in 2016 and stole around 120,000 bitcoin. He and his wife Heather Morgan – who used the alias ‘Razzlekhan’ to promote her rap music – were arrested in February 2022. At the time of the hack, the stolen crypto cash was worth around £56 million but had risen to more than £3.5 billion by the time they were caught and is now worth double that. The £2.8 billion worth of assets recovered as part of the case was the biggest financial seizure in the US Department of Justice’s history. Jailing Lichtenstein for five years, US District Judge Colleen Kollar-Kotelly said the theft was ‘meticulously planned’ and not an impulsive act. ‘It’s important to send a message that you can’t commit these crimes with impunity, that there are consequences to them,’ she said. Lichtenstein apologised for ‘wasting my talents on crime instead of a positive contribution to society’. He said he hoped to put his particular set of skills to good use by helping to fight cybercrime when he gets out of prison. ‘I want to take full responsibility for my actions and make amends any way I can,’ he said. Lichtenstein and Morgan were arrested in February 2022 (Picture: Instagram) The judge is scheduled to sentence Morgan on Monday. Lichtenstein pleaded with the judge to spare his wife from prison, blaming himself for her involvement. The entrepreneur and cryptocurrency investor is a US citizen who was born in Russia and grew up in a Chicago suburb. Morgan, a business owner and writer, adopted the alter ego ‘Razzlekhan’ for performing rap songs and recording videos for her music. Lichtenstein and Morgan were living in New York City when they were arrested in February 2022. They had been living in San Francisco around the time of the hack. Prosecutors recommended a five-year prison sentence for Lichtenstein, who pleaded guilty in August 2023 to one count of money laundering conspiracy. They recommended an 18-month prison sentence for Morgan, who pleaded guilty to the same charge. ‘Neither the hack nor the laundering scheme was an impulsive decision,’ prosecutors wrote. ‘The defendant (Lichtenstein) spent months attempting to gain access to Bitfinex’s infrastructure and get the accesses and permissions he needed in order to orchestrate his hack.’ Lichtenstein told his wife about the hack over three years later, but he initially solicited her help in laundering the proceeds ‘without explaining exactly what he was doing’, according to prosecutors. Morgan ‘was certainly a willing participant and bears full responsibility for her actions, but she was a lower-level participant’, they added. Heather Morgan will be sentenced later (Picture: Reuters) She used the alias ‘Razzlekhan’ to promote her rap music (Picture: Instagram) During family trips to Kazakhstan and Ukraine, Lichtenstein met with couriers who delivered him money that he smuggled back into the US. Bitcoin is the largest and oldest cryptocurrency, which is digital money that typically is not backed by any government or banking institution. Transactions get recorded with technology called a blockchain. The couple successfully laundered about 21% of the funds stolen from Bitfinex. The laundered money was worth at least $14 million (£11 million) at 2016 prices. Its value would have exceeded $1 billion at the time of their 2022 arrest. Authorities seized the remaining funds, collectively valued at over six billion dollars at current prices. ‘He became one of the greatest money launderers that the government has encountered in the cryptocurrency space,’ prosecutors wrote. An attorney for Bitfinex said the hack ‘devastated’ its finances and its reputation with its customers, with the stolen funds accounting for approximately 36% of the company’s assets at the time of theft. Over 96% of the stolen funds have been recovered with help from Lichtenstein, according to defence lawyer Samson Enzer. The ‘vast bulk’ of the stolen money was never spent, the lawyer said. ‘This is not an evil person,’ Mr Enzer said. ‘This is a good person who made some very bad mistakes.’ Get in touch with our news team by emailing us at webnews@metro.co.uk. For more stories like this, check our news page.

 2024-11-15 11:12:42

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$XRP Pumps As Speculation Around SEC Chair Gary Gensler's Resignation Excites Crypto Community

The price of XRP, the native cryptocurrency of the decentralized blockchain XRP Ledger, is surging after the altcoin was made available for trading by fintech leader Robinhood. This uptick is further fueled by growing speculation regarding the potential resignation of U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler in the near future.XRP has increased more than 11% in the last 24 hours and has been surging by over 40% in the last seven days, early Friday data from CoinGecko showed.Robinhood Lists $XRPRobinhood announced the listing Wednesday, along with its addition of popular memecoin PEPE and also other altcoins Solana (SOL) and Cardano (ADA).The cryptocurrency community celebrated the development, saying the addition of XRP on Robinhood will "bring more retail into the token." Retail investors are recognized as the drivers of activity in the crypto space, especially since the market has yet to see wider institutional adoption.Notably, XRP was delisted from multiple exchanges, Robinhood included, after the SEC filed a lawsuit against Ripple in 2020. Ripple is the world's largest holder of the XRP token and has been fighting the SEC case.While the Robinhood re-listing affected XRP prices amid an enthusiastic community, a bigger story may also be affecting the token's surge: Gensler's potential pre-term resignation.Crypto Buzzes Amid Gensler's StatementsThe SEC chief, who has been on the receiving end of criticisms from the crypto industry and lawmakers in recent months due to the financial regulator's enforcement-first approach toward digital assets, released a statement Thursday, hinting that he may step down soon."I've been proud to serve with my colleagues at the SEC who, day in and day out, work to protect American families on the highways of finance," Gensler concluded his lengthy reflection of his tenure as the SEC's top leader.He also hailed the SEC staff, saying "it's been an honor to serve with them, doing the people's work, and ensuring that our capital markets remain the best in the world."His remarks sparked speculation in the crypto community, with some concluding that his remarks were his "resignation letter," while others believe his official resignation will come "very soon."John Reed Stark, the former chief of the SEC's Office of Internet Enforcement, previously called on Gensler to step down. "The SEC staff should prepare a spreadsheet of all crypto-related investigations, litigation and rule-making, so the new Chair can swiftly grind them all to a screeching halt," he added.$XRP's Bitter History with the SECDonald Trump was on his way out of the White House when the SEC filed the lawsuit against Ripple, accusing the company of violating securities laws. Upon stepping into power, Gensler's SEC picked up the case, stepping up its allegations and insisting that XRP is a security.By 2023, a court ruled that the crypto asset isn't a security when offered on crypto exchanges. Ripple was fined $125 million – a staggering discount from the SEC's demand of $2 billion in fines.However, the SEC filed to appeal some provisions of the said court ruling – a move Ripple immediately responded to, filing a cross-appeal as it vowed to continue fighting the regulator's continuing offensive.Ripple CEO Brad Garlinghouse recently said he was hopeful that the new administration under Trump will provide a path for XRP to climb back to the higher ranks of the crypto realm. He also thanked XRP holders for their unwavering faith in the token, even if it has fallen from its 2018 Top 2 spot of the world's largest digital assets to currently Top 7.

 2024-11-15 11:04:34

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Top Picks for Blockchain Growth Amid Crypto Bull Market

As the cryptocurrency market experiences continued volatility, a new wave of digital assets has caught the attention of investors looking for potential winners in the next bull run. Among the notable projects gaining traction are AurealOne (DLUME), DexBoss (DEBO), 5thScape (5SCAPE), Arbitrum (ARB), Immutable X (IMX), Chainlink (LINK), and VeChain (VET). These tokens are not only driving innovation in blockchain and decentralized finance (DeFi) but also positioning themselves at the forefront of the expanding digital economy. AurealOne (DLUME) has rapidly emerged as a promising contender within the decentralized finance space. Built on the Ethereum blockchain, AurealOne’s primary focus is to create a seamless integration between traditional finance and blockchain technologies. Its utility token, DLUME, facilitates fast, low-cost transactions and offers liquidity options that appeal to investors seeking a robust alternative to traditional financial systems. This combination of ease-of-use, scalability, and long-term sustainability has made AurealOne a standout project in the DeFi ecosystem. Experts predict that AurealOne will play a key role in bridging the gap between institutional investors and the growing crypto market. Similarly, DexBoss (DEBO) is aiming to make a significant impact within the decentralized exchange (DEX) market. The platform focuses on offering innovative solutions for decentralized trading, providing liquidity to users through automated market-making (AMM) protocols. DexBoss stands out due to its emphasis on user experience and security. The platform leverages advanced encryption protocols, ensuring that user funds and transactions are safeguarded from potential vulnerabilities. As the decentralized finance landscape continues to evolve, DexBoss is positioned to become a major player due to its commitment to offering efficient and secure trading solutions. 5thScape (5SCAPE) represents another important project within the DeFi sphere. 5thScape focuses on the development of decentralized applications (dApps) and its potential to power a new generation of blockchain-based platforms. The platform aims to increase interoperability between various blockchains, offering a solution to one of the key limitations faced by many decentralized applications today: the lack of cross-chain compatibility. With a focus on scalability and decentralized governance, 5thScape’s token 5SCAPE is gaining attention as a long-term investment. Industry experts predict significant growth for 5thScape as it continues to enhance its technology and attract developers to build on its ecosystem. On the layer-2 scaling front, Arbitrum (ARB) has emerged as a leading contender in the race to enhance Ethereum’s scalability. Arbitrum leverages an optimistic rollup technology that significantly increases transaction throughput while reducing gas fees. By optimizing Ethereum’s existing infrastructure, Arbitrum has the potential to make decentralized applications more accessible and efficient. As Ethereum continues to be the dominant smart contract platform, layer-2 solutions like Arbitrum are vital for improving the network’s capacity and maintaining its competitive edge. Immutable X (IMX) has also garnered significant attention due to its focus on the growing non-fungible token (NFT) market. Immutable X offers a layer-2 solution for NFTs, providing faster, more affordable minting and trading while maintaining the security and decentralization that Ethereum is known for. Immutable X aims to be the go-to platform for large-scale NFT applications by addressing key issues in the NFT space, such as high gas fees and slow transaction times. With the rise of NFT-based gaming and digital collectibles, Immutable X is set to be a major player in the sector, offering a scalable and eco-friendly solution for the growing demand in digital assets. Chainlink (LINK), long regarded as one of the most reliable decentralized oracle networks, continues to solidify its position as an essential part of the blockchain infrastructure. Chainlink provides real-world data to smart contracts on any blockchain, bridging the gap between the digital and physical worlds. The network’s decentralized oracles ensure that smart contracts can operate without relying on a single source of truth, which adds a layer of trust and security to decentralized applications. As more enterprises and DeFi protocols look to integrate smart contracts into their operations, Chainlink is expected to maintain its crucial role in the ecosystem, further increasing demand for LINK tokens. VeChain (VET) stands out in the blockchain space due to its focus on supply chain management and enterprise solutions. By leveraging blockchain technology, VeChain enables businesses to track products through their entire lifecycle, from production to delivery. The platform provides an immutable, transparent record of transactions that can be used to verify the authenticity and quality of products. As supply chain issues continue to be a global challenge, VeChain’s innovative approach to enhancing efficiency, transparency, and accountability in logistics has earned it recognition across various industries. VeChain’s growing partnerships with major corporations suggest that it has the potential to become a leading force in enterprise blockchain applications. What makes these projects especially attractive is their ability to innovate beyond the basic principles of cryptocurrency. They are not merely digital assets; each project represents a unique contribution to the blockchain ecosystem, whether through scaling solutions, NFTs, or enterprise applications. Their development is centered around providing tangible solutions to real-world problems, such as high transaction fees, slow processing times, and lack of interoperability between blockchains.

 2024-11-15 10:33:00

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Crypto hacker who stole $11 billion of bitcoin sentenced to prison

A hacker has been sentenced to five years in prison for stealing and laundering approximately 120,000 bitcoin – worth more than $11 billion at current prices – from the crypto exchange Bitfinex. Ilya Lichtenstein, 35, hacked into Bitfinex’s network in 2016, before laundering the funds with his wife Heather Morgan. It was one of the largest-ever thefts from a cryptocurrency exchange, with US District Judge Colleen Kollar-Kotelly describing the theft as “meticulously planned” and not an impulsive act. “It's important to send a message that you can't commit these crimes with impunity, that there are consequences to them,” she said. Lichtenstein, who gets credit for the two years and nine months that he has spent in jail since his February 2022 arrest, expressed remorse for “wasting my talents on crime instead of a positive contribution to society.” He said he hopes that he can apply his expertise to fight cybercrime when he gets out of prison. “I want to take full responsibility for my actions and make amends any way I can,” he said. The judge is scheduled to sentence Morgan on Monday. Lichtenstein pleaded with the judge to spare his wife from prison, blaming himself for her involvement. The 119,754 bitcoin stolen from the Hong Kong-based exchange was worth approximately $71 million at the time of the hack. Several months later, Lichtenstein began moving the stolen bitcoin in a string of complex transactions designed to conceal its path across a series of accounts and platforms. He enlisted his wife’s help in cleaning the stolen funds. Lichtenstein, an entrepreneur and cryptocurrency investor, is a US citizen who was born in Russia and grew up in a Chicago suburb. Morgan, a business owner and writer, adopted the alter ego ‘Razzlekhan’ for performing rap songs and recording videos for her music. Lichtenstein and Morgan were living in New York City when they were arrested in February 2022. They had been living in San Francisco around the time of the hack. An attorney for Bitfinex said the hack “devastated” its finances and its reputation with its customers, with the stolen funds accounting for approximately 36 per cent of the company’s assets at the time of theft. “Bitfinex had to take unprecedented and immediate action to ensure that any losses from the Hack would ultimately be borne by Bitfinex and its shareholders alone, not its customers,” the lawyer, Barry Berke, wrote in a letter to the judge. Prosecutors recommended a five-year prison sentence for Lichtenstein, who pleaded guilty in August 2023 to one count of money laundering conspiracy. They recommended an 18-month prison sentence for Morgan, who pleaded guilty to the same charge. “Neither the hack nor the laundering scheme was an impulsive decision... “Over half a decade, the defendant engaged in what IRS agents described as the most complicated money laundering techniques they had seen to date,” prosecutors wrote. “The defendant (Lichtenstein) spent months attempting to gain access to Bitfinex’s infrastructure and get the accesses and permissions he needed in order to orchestrate his hack.” Additional reporting from agencies.

 2024-11-15 10:31:20

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Hong Kong bitcoin ETFs finally see trading surge after Trump bump in the US

Surging bitcoin prices following the election of Donald Trump as the next US president have finally given Hong Kong’s spot cryptocurrency exchange-traded funds (ETFs) a boost this week, with trading volume surging to a three-month high. Hong Kong’s three ETFs that invest directly in bitcoin this week became active trading targets with about HK$135 million (US$17.3 million) changing hands on Tuesday. On most days since the ETFs launched in April, their total daily trading volume lingered below US$4 million. The Asian financial centre’s ambition to turn into a virtual asset hub is facing increased competition with Trump’s return to the White House, as the former president pledged to make the US the “crypto capital” of the world. “Historically, the crypto ETFs in Hong Kong were less in the spotlight as most larger institutional investors can simply buy the ones in the US, which are larger and more liquid,” said Jeff Mei, chief operating officer of cryptocurrency exchange BTSE. “The recent surge in interest in Hong Kong indicates that there is more and more demand from local retail investors, wealth managers, and smaller institutional investors who prefer to have their investments denominated in Hong Kong dollars,” Mei said. Bitcoin, the world’s largest cryptocurrency, this week jumped more than 10 per cent to reach an all-time high above US$93,000. The token has gained 35 per cent over the past month as US election polls swung in Trump’s favour. The price has nearly doubled so far this year. Spot bitcoin ETFs in the US this week have drawn more than US$2 billion in inflows. The correlation with the US election stems largely from the crypto-friendly reputation that Trump fostered on the campaign trail. He previously promised to create a “strategic national bitcoin stockpile” and a more favourable regulatory framework for the industry. The major movements in crypto prices have “spilled over to Asia”, and Hong Kong-listed bitcoin ETFs have seen a similar bump in buying interest following the US developments, said Augustine Fan, head of insights at Hong Kong-based decentralised finance firm SOFA.org. In late 2022, Hong Kong announced plans to create clearer regulations for virtual assets and court the industry to the city at a time when the US was cracking down on cryptocurrency firms. With the US stance expected to change under Trump, Hong Kong faces greater pressure to maintain its momentum. Christopher Hui Ching-yu, the city’s Secretary for Financial Services and the Treasury, said on Friday that the government will submit a bill to the Legislative Council by the end of the year to regulate issuers of fiat-pegged stablecoins. The city will also aim to conduct the second round of public consultation for regulating over-the-counter virtual asset trading services next year, and propose a regime for virtual asset custody services, Hui said. On Friday, the Hong Kong stock exchange launched its virtual asset index series, which offers benchmarks for bitcoin and ether pricing in Asian time zones. “Hong Kong, given its strong financial and legal systems, will remain the main hub for Chinese investors, and crypto is one asset class that is set to gain from this development,” said BTSE’s Mei.

 2024-11-15 10:30:08

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Sui, Litecoin, and IntelMarkets prices skyrocket, analysts forecasts more gains in 2025

There is a lot of excitement in the cryptocurrency markets as Sui (SUI), Litecoin (LTC), and IntelMarkets (INTL) post massive gains. With these top altcoins setting the pace, analysts are predicting much bigger gains in 2025. They say the value of Sui could rally to $25 while LTC could reach $245. Meanwhile, the IntelMarkets coin is expected to see an 11x surge by the first quarter of next year. This is because IntelMarkets is one of the AI coins that analysts expect could revolutionize the market next year. Sui (SUI) price pumps, experts give targets of $25 in 2025 Sui (SUI) is among the most bullish altcoins in the market right now. The price of the Sui crypto has increased on the weekly and monthly levels. The token currently has profits of 67.2% and 55.8% on these levels, respectively. In a week, the Sui price rose from a low of $1.83 to a peak of $3.25, according to CoinMarketCap’s data. Also, the cryptocurrency’s market cap has crossed the $9 million mark for the first time in months. Sui’s (SUI) technical indicators, the VWMA (10) and Hull Moving Average (9) are currently bullish. They are in the buy territory and support an uptrend. The CryptoBull predicts the value of the Sui token could reach $25 next year. Another expert, WOCAF, expects a price surge to $30. Litecoin (LTC) price targets for 2025 Given the recent uptrend in the crypto market, analysts are expecting the price of Litecoin (LTC) to skyrocket in the coming weeks. NumberOfWealth forecasts that the value of the Litecoin crypto could surge to $115 in the short term and $245 by next year. The pseudonymous analyst, Master, predicts the Litecoin price could pump to $102 in the coming months. In another tweet, Crypt0Chief says the cryptocurrency may rally to the peak of $650. Meanwhile, the potential of a Litecoin ETF and the latest US election have pushed the price of LTC up the charts. Data from CoinMarketCap shows the token’s price pumped from a low of $66 to a peak of $78. Its market cap is consolidating between $4.8 billion and $6 billion. The sentiment surrounding the cryptocurrency has improved. The Hull Moving Average (9) and VWMA (10) are showing bullish signs. IntelMarkets (INTL) price pumps 400%, analysts predicts rally of 11x The token of the DeFi project, IntelMarkets (INTL), has shown high performance in the ongoing presale. The price of the cryptocurrency has risen by 408% from $0.009 to $0.045727. Apart from the price gain, the project has also raised over $2 million and is expected to hit $3 million before December. According to experts, given its features and user interest, the value of IntelMarkets can grow 11x in 2025. IntelMarkets aims to change the market of crypto trading and offer people an exchange that will help them analyze large data sets. The platform can process over 10,000 data points to allow traders to make better decisions. It also has AI trading bots which can follow given strategies and mirror the trading behavior of the user. These bots can also learn from errors and grow smarter with each trade. In addition, IntelMarkets has a multi-channel analysis tool. This tool can evaluate many indicators and price signals to produce a signal that investors can easily read, making it easy for them to know when to sell and when to buy. While Sui (SUI), Litecoin (LTC), and IntelMarkets are showing upward movement, analysts say their prices could go higher in the following year. Such potential growth makes them the best altcoins to buy right now for massive profits in the future. Besides, the cryptocurrency market could witness a surge in friendly regulations that could increase adoption in the coming months. Discover More About IntelMarkets: Presale: https://intelmarketspresale.com/ Telegram: https://t.me/IntelMarketsOfficial Twitter: https://x.com/intel_markets DISCLAIMER – “Views Expressed Disclaimer: Views and opinions expressed are those of the authors and do not reflect the official position of any other author, agency, organization, employer or company, including NEO CYMED PUBLISHING LIMITED, which is the publishing company performing under the name Cyprus-Mail…more

 2024-11-15 10:12:46

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Bitcoin thief sentenced to 5 years in prison for stealing $1 billion in crypto and laundering it with his social-media rapper wife ‘Razzlekhan’

Ilya Lichtenstein masterminded one of the largest-ever thefts from a virtual currency exchange before he and his wife, Heather Rhiannon Morgan, carried out an elaborate scheme to liquidate the stolen funds, according to federal prosecutors. U.S. District Judge Colleen Kollar-Kotelly told Lichtenstein that his theft was “meticulously planned” and not an impulsive act. “It’s important to send a message that you can’t commit these crimes with impunity, that there are consequences to them,” she said. Lichtenstein, who gets credit for the two years and nine months that he has spent in jail since his February 2022 arrest, expressed remorse for “wasting my talents on crime instead of a positive contribution to society.” He said he hopes that he can apply his expertise to fight cybercrime when he gets out of prison. “I want to take full responsibility for my actions and make amends any way I can,” he said. The judge is scheduled to sentence Morgan on Monday. Lichtenstein pleaded with the judge to spare his wife from prison, blaming himself for her involvement. In August 2016, Lichtenstein hacked into a virtual currency exchange, Hong Kong-based Bitfinex, and stole approximately 120,000 bitcoin. It was worth approximately $71 million at the time of the hack and would be valued at more than $7.6 billion at current market prices, according to prosecutors. Several months later, Lichtenstein began moving the stolen bitcoin in a string of complex transactions designed to conceal its path across a series of accounts and platforms. He enlisted his wife’s help in cleaning the stolen funds. Lichtenstein, an entrepreneur and cryptocurrency investor, is a U.S. citizen who was born in Russia and grew up in a Chicago suburb. Morgan, a business owner and writer, adopted the alter ego “Razzlekhan” for performing rap songs and recording videos for her music. Lichtenstein and Morgan were living in New York City when they were arrested in February 2022. They had been living in San Francisco around the time of the hack. Prosecutors recommended a five-year prison sentence for Lichtenstein, who pleaded guilty in August 2023 to one count of money laundering conspiracy. They recommended an 18-month prison sentence for Morgan, who pleaded guilty to the same charge. “Neither the hack nor the laundering scheme was an impulsive decision. The defendant (Lichtenstein) spent months attempting to gain access to Bitfinex’s infrastructure and get the accesses and permissions he needed in order to orchestrate his hack,” prosecutors wrote. Lichtenstein told his wife about the hack over three years later, but he initially solicited her help in laundering the proceeds “without explaining exactly what he was doing,” according to prosecutors. Morgan “was certainly a willing participant and bears full responsibility for her actions, but she was a lower-level participant,” prosecutors wrote. During family trips to Kazakhstan and Ukraine, Lichtenstein met with couriers who delivered him money that he smuggled back into the U.S. “Over half a decade, the defendant engaged in what IRS agents described as the most complicated money laundering techniques they had seen to date,” prosecutors wrote. Bitcoin is the largest and oldest cryptocurrency, which is digital money that typically isn’t backed by any government or banking institution. Transactions get recorded with technology called a blockchain. The couple successfully laundered about 21 percent of the funds stolen from Bitfinex. The laundered money was worth at least $14 million at 2016 prices. Its value would have exceeded $1 billion at the time of their 2022 arrest. Authorities seized the remaining funds, collectively valued at over $6 billion at current prices. “He became one of the greatest money launderers that the government has encountered in the cryptocurrency space,” prosecutors wrote. An attorney for Bitfinex said the hack “devastated” its finances and its reputation with its customers, with the stolen funds accounting for approximately 36% of the company’s assets at the time of theft. “Bitfinex had to take unprecedented and immediate action to ensure that any losses from the Hack would ultimately be borne by Bitfinex and its shareholders alone, not its customers,” the lawyer, Barry Berke, wrote in a letter to the judge. A prosecutor said Lichtenstein immediately began cooperating with federal authorities after his arrest, helping them with other cybercrime investigations. Over 96% of the stolen funds have been recovered, with help from Lichtenstein, according to defense attorney Samson Enzer. The “vast bulk” of the stolen money was never spent, the lawyer said. “This is not an evil person,” Enzer said. “This is a good person who made some very bad mistakes.”

 2024-11-15 10:12:06

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Stablecoin Issuer Tether Moves Into Tokenising Stocks and Bonds

Tether Holdings Ltd., the world's largest digital asset company, is getting into the tokenisation of stocks, bonds, funds and commodities. The platform Hadron by Tether, launched Thursday, will allow users to convert assets into products ranging from stablecoins that are pegged to fiat to digital tokens backed by commodities or other forms of collateral. The British Virgin Islands-registered company is targeting businesses and governments as customers, Tether said in a statement. Turning assets into tokens can allow them to be traded quicker and at a lower cost. The assets can be traded on blockchains by transferring them from one cryptocurrency wallet to another.Samsung Wins Patent for a Tri-Fold Smartphone With Specialised Barrier Layer for Improved Durability These potential advantages led Wall Street companies like BlackRock Inc., JPMorgan Chase & Co. and Franklin Templeton to offer tokensed money market and mutual funds over the past couple years. Stablecoins, a form of crypto token pegged to another asset, use reserves to support their value. They are integral to the way crypto markets operate, acting as a less volatile alternative for traders looking to swap between digital assets and to store their wealth. Tether's stablecoin USDT, which is pegged to the dollar and backed by Treasuries and other assets, currently has over $126.6 billion tokens in circulation. The tokenisation platform is the latest effort by Tether to expand beyond its core business. The firm announced last week that it completed the funding of its first crude oil transaction in the Middle East as part of a plan to become a lender in commodities trading. Crypto Legislation Likely Coming Under Trump, Ex-SEC Chief Says The closely-held company has been the center of controversy in the past. Tether has previously faced fines from the Commodity Futures Trading Commission and settled with the New York Authority General surrounding allegations that it lied about its reserves in the past and made misleading statements. © 2024 Bloomberg L.P. .embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }

 2024-11-15 10:00:28

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Dogecoin surges as Trump appoints Musk, FTX sues Binance, bitcoin hits record high: 5 cryptocurrency stories

1. Dogecoin skyrockets as Trump appoints Elon Musk to lead new DOGE efficiency department Musk’s favourite cryptocurrency, dogecoin, surged in value to nearly 38 cents, up from under 16 cents before the presidential election, on news of the billionaire’s appointment to the Trump administration. The president-elect’s pro-crypto stance and Musk’s fanatical support have helped drive its market value. 2. FTX sues Binance and ex-CEO Zhao Changpeng for US$1.8 billion in wake of Sam Bankman-Fried’s cryptocurrency collapse The lawsuit relates to Binance’s sale of its FTX stake and marks the latest conflict between the two cryptocurrency giants, with Bankman-Fried facing a 25-year prison sentence for fraud. Binance denies the claims, stating they are meritless. 3. Bitcoin soars past US$89,000 on Trump crypto boom with traders betting it will pass US$100,000 Bitcoin hit a new record high following Donald Trump’s election, driven by expectations of crypto-friendly policies, boosting the overall crypto market value to US$3.1 trillion. 4. Trump crypto support could spur China to reopen digital-asset market, says HashKey CEO Xiao Feng says China could revive its digital-asset market within two years as US policy clarity, tech rivalry and global sanctions on Russia might accelerate Beijing’s acceptance of cryptocurrencies, potentially reversing its strict regulations. 5. Binance billionaire Zhao Changpeng talks about life after prison, future plans and Trump’s crypto boost The crypto mogul known as CZ, founder of Binance, discusses his four-month prison stint and reflects on leading the world’s largest exchange. With Donald Trump’s US presidential election win, the industry’s prospects brighten, potentially boosting CZ’s estimated US$53 billion net worth further. Part of this article was produced with the assistance of generative AI.

 2024-11-15 09:56:41

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Dogecoin Rallies After Trump’s Election Victory

Dogecoin surges following Donald Trump's election win, fueled by Elon Musk's new role and Trump's pro-cryptocurrency stance. A Surprising Boost for Dogecoin Dogecoin, the cryptocurrency initially launched as a joke, has seen a remarkable surge in value since Donald Trump’s victory in the U.S. presidential election. Known for its playful Shiba Inu dog logo, Dogecoin’s value has soared, reflecting a broader trend of cryptocurrency gains linked to Trump’s policy statements and high-profile appointments. The Associated Press reports that Trump’s decision to appoint Elon Musk as one of the leaders of the “Department for Government Efficiency” (DOGE) has added to the buzz around Dogecoin. Although not an official government agency, the acronym has caught the attention of cryptocurrency enthusiasts, further fueling its rise. Dogecoin’s Journey from Meme to Market Star Dogecoin’s ascent is as unexpected as it is fascinating. Created as a parody of cryptocurrencies, it has since garnered a loyal community of supporters who periodically drive its price higher. Proponents argue that, like other cryptocurrencies, Dogecoin provides a decentralized way to conduct transactions online, free from the influence of central banks or governments. Before Election Day on November 5, Dogecoin was valued at less than $0.16. By the following week, its price had surged to nearly $0.40, marking a dramatic rise in a short period. Trump’s Cryptocurrency Vision Cryptocurrencies, including Dogecoin, have broadly benefited from Trump’s election rhetoric. The former president has declared his ambition to make the United States the “cryptocurrency capital of the world.” His proposal to establish a “strategic reserve” of Bitcoin has further bolstered confidence in digital currencies. Bitcoin, the most prominent cryptocurrency, has also experienced record-breaking gains. It began the year at $43,000 but has now climbed to an unprecedented $92,000, a reflection of renewed interest and optimism in the crypto market. The Musk Factor and DOGE Momentum Elon Musk’s association with Dogecoin has been a recurring factor in its market movements. His appointment to Trump’s efficiency initiative has only amplified the excitement surrounding the cryptocurrency. Musk has a long history of publicly endorsing Dogecoin, often causing its value to spike with a single tweet. A Changing Landscape for Cryptocurrencies Dogecoin’s rise, alongside Bitcoin’s record-breaking trajectory, signals a new era for digital currencies. Trump’s pro-cryptocurrency stance and high-profile endorsements have set the stage for continued growth in the sector. As Dogecoin evolves from a humorous concept to a market contender, its journey underscores the unpredictable yet dynamic nature of the cryptocurrency world. Whether as an investment or a statement, Dogecoin’s popularity shows no signs of waning.

 2024-11-15 09:46:53

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Donald Trump plans to oust US Attorney prosecuting NYC Mayor Eric Adams and Sean 'Diddy' Combs

Donald Trump plans to oust US Attorney prosecuting NYC Mayor Eric Adams and Sean 'Diddy' Combs Follow DailyMail.com's presidential election live blog for all the latest news and updates By TARYN PEDLER FOR DAILYMAIL.COM Published: 09:42 GMT, 15 November 2024 | Updated: 09:42 GMT, 15 November 2024 President-elect Donald Trump is reportedly set to replace the US Attorney prosecuting NYC Mayor Eric Adams and Sean 'Diddy' Combs. Trump said Thursday that he wants to oust Damian Williams, the US attorney for the Southern District of New York (SDNY), and replace him with Jay Clayton, his former chairman of the Securities and Exchange Commission (SEC). The proposed change, which Trump revealed in a Truth Social post, comes in the midst of Williams overseeing a number of high-profile prosecutions. These include the public corruption case against New York Mayor Eric Adams and the sex trafficking case against Sean 'Diddy' Combs. Williams was nominated in 2021 by President Joe Biden, making him the first Black American to lead the prosecutor's office, and the youngest, aged 41. Trump said Thursday that he wants to oust Damian Williams, the US attorney for the Southern District of New York (SDNY), and replace him with Jay Clayton, his former chairman of the Securities and Exchange Commission Damian Williams has overseen a number of high-profile prosecutions including the public corruption case against New York Mayor Eric Adams and the sex trafficking case against Sean 'Diddy' Combs Sean 'Diddy'Combs was charged with a host of sex trafficking and racketeering offenses following his September 16 arrest Had Vice President Kamala Harris won the presidency, he was believed to be in the running for a top appointment after making his mark in the prosecution industry under the SDNY leadership. The SDNY is known for its handling of complex cases and has secured historic convictions including the fallen crypto king, Sam Bankman-Fried. Williams' departure from office will come as his leadership pursues the bribery and corruption case against Adams. Diddy's life is 'in danger' in famous jail where inmates want to attack him, former warden says Federal prosecutor Hagan Scotten said last month there was evidence that Adams, 64, attempted to tamper with a witness in the investigation and claimed that after FBI agents contacted one witness, the individual was given 'a clear message from the defendant' that they should not be truthful to the FBI. Adams is charged with conspiracy to commit wire fraud, federal program bribery, and receiving campaign contributions from foreign nationals. He is also accused of defrauding NYC taxpayers of $10million through allegedly fraudulent campaign funds. He pleaded not guilty at his arraignment in September and has claimed he has done nothing wrong. It was not immediately clear how Williams' departure might affect Adam's case, though the president-elect said he believes the NYC mayor was unfairly targeted. Trump has expressed sympathy for Adams, saying he had been targeted by 'lunatic' prosecutors. 'We were persecuted, Eric,' Trump said to Adams during the recent Al Smith charity dinner. 'You're gonna win, Eric.' NYC Mayor Eric Adams has been charged with five offenses: conspiracy to commit wire fraud, federal program bribery, solicitation of a contribution by a foreign national, wire fraud, and bribery Clayton was just one of several nominations for top legal posts that Trump put forward on Thursday, as the president-election moves quickly to shape his new administration But Trump now has his eyes on Clayton as William's replacement, previously writing of the senior adviser and attorney at Manhattan law firm Sullivan & Cromwell: 'Jay is a highly respected business leader, counsel, and public servant. 'Jay is going to be a strong Fighter for the Truth'. Clayton, 58,has no experience with criminal prosecutions but was a longtime corporate attorney before Trump put him forward to lead the SEC. NYC mayor addresses Trump's deportation plan and says he'll work with him: 'The people have spoken' The incoming president in 2020 attempted to bring Clayton in as the dead of the SDNY without success, after former Attorney General Bill Barr tried to push out US Attorney Geoffrey Berman. Clayton was just one of several nominations for top legal posts that Trump put forward on Thursday, as the president-election moves quickly to shape his new administration. He picked Todd Blanche, a former federal prosecutor who was the president-elect's defence attorney during this year's 'hush money' trial in New York, to be assistant attorney-general at the Department of Justice. Trump also nominated Blanche's co-counsel Emil Bove to the post of principal associate deputy attorney-general and acting deputy attorney-general, while Blanche is in process of being confirmed by the Senate. Thursday's bombshell nominations come after Trump sent shockwaves through the Department of Justice a day prior when he picked Matt Gaetz, the incendiary former Florida congressman who practised law briefly before joining Congress, as US attorney-general. The nomination sounded alarm bells through Washington's legal community over concerns that Gaetz could have the ability to use law enforcement against the president-elect's political opponents. Donald TrumpEric Adams Share or comment on this article: Donald Trump plans to oust US Attorney prosecuting NYC Mayor Eric Adams and Sean 'Diddy' Combs Add comment

 2024-11-15 09:42:04

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Bitcoin briefly tops $93,000 on Trump agenda, fed policy outlook

Bitcoin spiked above $93,000 for a short period as expectations of further interest-rate reductions by the Federal Reserve added to the impetus from President-elect Donald Trump’s pro-crypto stance. The digital asset rose nearly 6 per cent in the US on Wednesday to a record $93,462 but failed to hold the climb, changing hand at $91,305 as of 12:06 p.m. Thursday in London. The wider crypto market swung between gains and losses. Speculators are trying to parse whether Trump’s rhetorical support for digital assets will continue to propel Bitcoin, opening a path to $100,000, or give way to a bout of profit-taking after a 34 per cent advance since the US election. “After such an extended move it’s reasonable to think we will see opinions shift, resulting in increased two-way flows,” Chris Weston, head of research at Pepperstone Group, wrote in a note. “Still, the trend in Bitcoin is higher — for now — and I would expect buyers to kick back in once the liquidation of a concentrated position has run its course and we move to a cleaner position.” US inflation data on Wednesday met analyst projections, prompting traders to boost wagers on another quarter-point rate cut by the Fed in December. At the same time, Trump’s wider platform of tax cuts and protectionist trade tariffs complicates the picture by threatening to stoke price pressures in the future. The president-elect has pledged to create a friendly regulatory framework for crypto, set up a strategic Bitcoin stockpile and make the US the global hub for the industry. A onetime crypto skeptic, Trump changed tack after digital-asset firms spent heavily during election campaigning to promote their interests. Questions remain about the feasibility of these promises and the potential timeline for implementation. Trump and his Republican Party have unified control of the elected branches of government but matters of state such as economic and fiscal policy may be first in line for action. Billionaire Michael Novogratz, founder of crypto-focused Galaxy Digital LP, said on Bloomberg Television that the odds of a US Bitcoin strategic reserve are low, while adding that the largest token could soar to $500,000 if it materializes. The crypto rally is rippling across the financial sector, driving peak trading volumes and inflows at US Bitcoin exchange-traded funds. MicroStrategy Inc. — a software company that has embraced Bitcoin on its balance sheet — is powering a Bloomberg gauge for convertible US debt toward its best month this year. More stories like this are available on bloomberg.com

 2024-11-15 09:12:28

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Top 10 Cryptocurrencies by Market Cap

by Vivek , 08 Aug, 2024

Top 10 CryptoCurrencies

Market capitalization, or market cap, is calculated by multiplying the current price of a cryptocurrency by the total number of coins or tokens that are in circulation.
As of August 2024, the top 10 cryptocurrencies by market cap represent a diverse array of digital assets, each with unique features and applications. Bitcoin (BTC) leads the market as the first and most valuable cryptocurrency, often regarded as digital gold. Ethereum (ETH) follows