roadrunner

After close to two years, following the U.S. federal government accusing the Crypto Six of unlicensed money transmission, the case is seemingly coming to an end. According to multiple reports, Keene resident and libertarian activist, Ian Freeman, the last member of the Crypto Six case to be tried, was found guilty on all counts which included unlicensed money transmission, money laundering, and tax evasion. Freeman faces eight years in prison but he was not taken into custody on Thursday afternoon (ET). Reports detail that he must appear for sentencing on April 14, 2023, or appeal the verdict. Ian Freeman Found Guilty of Unlicensed Money Transmission, Sentencing Hearing Scheduled for April 2023 During the first week of Dec. 2022, Bitcoin.com News reported on the Crypto Six case and how the co-host of the radio broadcast Free Talk Live, Ian Freeman, was preparing to head to trial. Freeman was the only defendant left that remained in the Crypto Six case, as he decided to take the issue to trial in order to bring his case in front of a jury. The charges against Freeman originally started on March 16, 2021, when U.S. federal agents raided the Shire Free Church in Keene New Hampshire, the Bitcoin Embassy, and the Free Talk Live studio. The U.S. Department of Justice (DOJ) said “the defendants knowingly operated the crypto exchange business in violation of federal anti-money laundering laws and regulations.” After jurors were selected, Freeman’s trial officially started on Dec. 6, 2022. 16 days later, Free Talk Live co-host Mark Edge revealed on Facebook that Freeman was found guilty. “Ian guilty on all counts. unlicensed money transmission, money laundering, and tax evasion,” Edge said. The trial’s verdict was also revealed by the local news publication The Keen Sentinel. The Sentinel’s Rick Green wrote that “a federal jury convicted Keene resident Ian Freeman on felony charges Thursday related to his cryptocurrency business.” Green confirmed Edge’s statements that said Freeman was found guilty of “operating an unlicensed money-transmitting business, money laundering, and income-tax evasion.” The reporter further noted that Freeman was not taken into custody and is remanded to appear in court on April 14, 2023. Green further noted that Freeman’s defense attorney Mark Sisti told the court that the government’s case was based on “speculation, innuendo, and intuition but short on evidence.” Some of the members of the Crypto Six case pleaded guilty to one charge of wire fraud last April. While Freeman is scheduled to appear in court for sentencing in April, the Free Talk Live co-host can appeal the verdict in the meantime. What do you think about the Free Talk Live co-host Ian Freeman being found guilty of unlicensed money transmission by a jury on Thursday? Let us know what you think about this subject in the comments section below. View the full article

On Dec. 21, 2022, members of U.S. law enforcement detailed that FTX co-founder Gary Wang and ex-Alameda Research CEO Caroline Ellison have pleaded guilty to financial fraud charges. The recent charges against Wang and Ellison highlight some key findings and according to the U.S. Securities and Exchange Commission (SEC), FTX’s exchange token FTT is considered a security. SEC Complaint Says SBF ‘Directed’ and ‘Instructed’ High-up Execs Like Caroline Ellison to Commit Fraud U.S. attorney Damian Williams told the public on Wednesday that charges have been filed against Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. The Southern District of New York (SDNY) also told the press that Ellison and Wang were cooperating with federal law enforcement, and the recent SEC charges identify key findings that were previously speculated on or were unknown at the time. The first glaring evidence shows that the FTX co-founder Sam Bankman-Fried (SBF) said a lot of untruthful things during his recent media tour, at least according to the SEC complaint. The SEC charges show that SBF may have lied during those interviews about specifics, and the SEC accuses Bankman-Fried and Wang of “improperly [diverting] customer assets to Alameda Research LLC and its subsidiaries.” Moreover, the speculation and rumors that said SBF and Wang built a backdoor into FTX for Alameda are also reportedly true, according to the SEC’s accusations. The SEC complaint says SBF, Wang, and Ellison “had provided Alameda with significant special treatment on the FTX platform, including a virtually unlimited ‘line of credit’ funded by the platform’s customers.” The U.S. regulator further says that Ellison, “acting at the direction of Bankman-Fried,” manipulated the FTX exchange token FTT’s price. The move was meant to increase the price of FTT in order to “inflate the value of Alameda’s collateral.” The SEC also alleges that SBF was the sole decision maker at Alameda Research. “Bankman-Fried remained the ultimate decision-maker at Alameda, even after Ellison and Trabucco became co-CEOs in or around October 2021,” the SEC’s court filing details. The SEC’s accusations further state: Most crucially, Bankman-Fried used Alameda to house FTX customer assets and to deploy those assets, under Bankman-Fried’s direction, to help grow his empire. U.S. Regulator Defines FTT as a Security, SBF’s $250M Bail Bond Deal in Manhattan’s Federal Court One of the most glaring charges, that may produce broad regulatory measures across the entire crypto industry, is how the SEC defines the crypto token FTT. Essentially, in the eyes of the U.S. securities regulator, FTT is a security. “FTT was offered and sold as an investment contract and, therefore, as a security,” the SEC complaint against Wang and Ellison details. “As a result of FTX and its management team’s large holdings of FTT, the interests of the company and its management team were aligned with those of investors in FTT,” the complaint adds. The charges against Ellison and Wang further said that the FTT white paper “specifically highlighted the profit potential of the token.” On several occasions throughout the SEC filing, it notes that Ellison says SBF “directed” or “instructed” her to execute many of the misdeeds. The claimed direction Ellison describes completely contradicts SBF’s claims when he said he was unaware of Alameda’s dealings, and that he did not operate the firm. The SEC’s allegations note that for quite some time, Ellison was supposedly ordered to do a number of fraudulent acts under SBF’s command. In 2022, despite being under significant distress the SEC alleges that “Bankman- Fried and Ellison continued to use FTX customer assets in the summer of 2022.” Funds were leveraged to mislead investors and rescue distressed crypto firms, the SEC’s complaint details. The New York Post reports that SBF was extradited late Wednesday evening, and he is now in New York’s Manhattan district. SBF’s mother “Barbara Fried, was seen arriving at the Pearl Street courthouse hours before an expected noon arraignment,” The Post said. The report further detailed that SBF faced a judge in Manhattan’s federal court in order to be arraigned. SBF appeared in front of the Manhattan judge, Gabriel Gorenstein, who approved a $250 million bond deal that will allow the FTX co-founder to be placed under house arrest with his parents Joseph Bankman and Barbara Fried. SBF was represented by sex offender Ghislaine Maxwell’s attorney, Mark Cohen, and sources told the New York Post that the “deal was prearranged.” Under the deal, SBF would be allowed out of his parent’s home in California for exercise, mental health, and substance abuse treatments, according to The Post’s account of the bond deal. Unsealed court documents indicate that Ellison’s plea agreement, which must be approved by the court, shows the former ex-Alameda CEO agreed to $250,000 bail. Ellison also surrendered her passport, and she will need to pay restitution decided on by the court. If Ellison fully cooperates and the SDNY federal court agrees, she may only face criminal tax violations and there’s a chance she could get off without any jail time. The unsealed plea agreement indicates that Ellison is working with the attorney Stephanie Avakian. A plea agreement for Gary Wang’s charges and his specific deal has not yet been revealed to the general public. What do you think about the key findings in the SEC charges against Ellison and Wang? Let us know what you think about this subject in the comments section below. View the full article

Twitter is now providing price charts with search results for major cryptocurrencies, such as bitcoin and ether. This new feature is “one of many product improvements coming to financial Twitter,” said Elon Musk, owner of the social media platform. Twitter Launches Price Chart Feature Twitter announced in a series of tweets Wednesday that it is now providing price charts for major stocks, exchange-traded funds (ETFs), and cryptocurrencies. “When you tweet the symbol of a major stock, ETF, or crypto currency with a $ in front of it (like $BTC), people on Twitter see a clickable link that takes them to search results,” the official Twitter Business account explained, adding: Starting today, these search results will include the pricing graphs for major symbols. The social media giant added: “You can also search for symbols directly, without clicking on a link within a tweet. Most symbols with and without the $ sign will work in search (QQQ or $QQQ).” Twitter continued: “In the coming weeks, we’ll refine the user experience and expand our coverage of symbols.” The price charts on Twitter are provided by Robinhood, a U.S.-based trading platform for traditional investments and cryptocurrencies. All price charts include a link to the trading platform. Many people on Twitter welcome the new feature. However, some noted that Robinhood is not available in their countries and they would prefer Twitter to use other price data providers. At the time of writing, the only cryptocurrencies that have price charts displayed are BTC and ETH. Even dogecoin (DOGE) does not have a price chart added yet despite the meme cryptocurrency being Elon Musk’s favorite. The Tesla CEO and Twitter chief, who is also known in the dogecoin community as the Dogefather, has said repeatedly that he will keep supporting and buying dogecoin. Musk has been trying to find new revenue streams for his social media company after many advertisers pulled out. Commenting on the new price chart feature, he wrote: One of many product improvements coming to financial Twitter! The billionaire recently promised to step down as head of the social media platform. “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams,” Musk said Tuesday. What do you think about Twitter providing price charts with search results? Let us know in the comments section below. View the full article

PRESS RELEASE. ”SUPER SAPIENSS NFT” Public-Sale on December 24. Financie, Inc. (headquarters, Tokyo; CEO, Hironao Kunimitsu; hereinafter “Financie”) has commenced to prepare for the IEO (*1) of the entertainment DAO project “SUPER SAPIENSS”. Additionally, “SUPER SAPIENSS NFT” will start a public sale from 24rd December, 6 am(EST) available for anyone. SUPER SAPIENSS NFT https://supersapienss.com/nft/ SUPER SAPIENSS https://supersapienss.com/ Financie has launched the IEO support business in July 2022 to expand the “community-driven” creator economy. Financie will support the entity/group to develop and create the token economy, the structure, analyze and clarify the risk from the point of view of laws and regulations, accounting and tax (*2), prepare the applications for handling newly-issued crypto assets and token value calculations, and more by utilizing the experience and knowledge gained through the own IEO process. Financie already has a partnership agreement with Light Inc. to support their IEO, and are currently in discussions with Angkor Tiger FC, Iganmu Tiger FC, Japan Cycle League, and Ryukyu Astida, which have issued club tokens within FiNANCiE, in preparation for IEO. “SUPER SAPIENSS” is an entertainment project initiated by three directors, Yukihiko Tsutsumi, Katsuyuki Motohiro, and Yuichi Sato, who lead the Japanese entertainment and film industry, and the producer Takeshi Moriya, known for “Midnight Swan” and other films, to carry out the entire process from creation of the original work to its visualization. Since the launch of the project on FiNANCiE in January 2022, it has been active with the co-creation community in the production of original videos and webtoons, and the NFT. By supporting the issuance of “SUPER SAPIENSS” crypto assets token, Financie will encourage “SUPER SAPIENSS” token economy to expand beyond FiNANCiE. *1 IEO stands for “Initial Exchange Offering”. Exchange platforms facilitate token offerings and will perform a multitude of checks and due diligence processes before commencing a sale. In addition to raising funds, the use of tokens makes it easy to form and strengthen communities. *2 Financie does not provide professional advice based on the Lawyers Act, the Certified Public Tax Accountants Act, etc. 【Outline of Public Sale】 Target: Anyone can purchase on the Mint website (first-come-first-served basis) Period: 2022/12/24 6 am ~ 2022/12/25 6 am (EST) 2022/12/24 11 am ~ 2022/12/25 11 am (GMT) 2022/12/24 3 am ~ 2022/12/25 3 am(PST) Quantity: 500 + the amount not sold out in the Pre-Sale at the Minting site (no limit of mints / up to 5 mints at a time) Payment method: ETH payment Remarks: The management will keep the unsold items and use them for burn or future development to avoid selling pressure. Purchase Page：https://supersapienss.com/nft/ 【Comments from the producers】 ■Takeshi Moriya, SUPER SAPIENSS Producer ‘I am very excited to start the preparations for IEO. We have been engaged in various activities as SUPER SAPIENSS for about a year, and it has passed so fast. Starting with the community creating onFiNANCiE platform, we organized and commenced actor auditions, the Japan tour of “SUPER SAPIENSS THE BEGINNING,” which is led by members of the community, and NFT and WebTOON, that is now being launched. We wish to create new entertainment schemes through such activities. In preparation for the IEO, we are considering various measures linked to the community tokens in FiNANCiE, and NFT holders, so that we can create an entertainment which everyone from all over the world can enjoy‘. ■Hironao Kunimitsu, CEO, Financie, Inc. ‘I think the success of this SUPER SAPIENSS IEO is very important for the future of NFT. We will do our best to make it. As the one and only Web3 platform provider in Japan, Financie will continue to support the formation and expansion of the token ecosystem through its token-issuing crowdfunding service “FiNANCiE”, NFT business, and IEO support business, in order to achieve its corporate vision of “Empowering the next billion dreams”‘. About Financie, Inc. Financie, Inc. provides the businesses that support the formation of communities and ecosystems using tokens, including FiNANCiE, a token-issuing crowdfunding service that utilizes blockchain, NFT business, and IEO support business. Currently, more than 180 sports teams, entertainment projects, and individuals have issued/sold/operated their own tokens on FiNANCiE. We will establish Japan’s only Web3 platform that supports the formation and expansion of token ecosystems in a single integrated manner. FiNANCiE｜FiNANCiE https://financie.jp/ App: App Store (Supported OS: iOS 14.0 and above) https://apps.apple.com/jp/app/financie/id1470196162 App: Google Play (Compatible OS: Android 6.0 and above) https://play.google.com/store/apps/details?id=jp.financie.ichiba This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

On Dec. 21, U.S. law enforcement officials from the Southern District of New York (SDNY), the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) revealed they imposed fraud charges against FTX co-founder Gary Wang and ex-Alameda Research CEO Caroline Ellison. After Wang’s and Ellison’s surrender announcement, the public has been wondering where FTX’s director of engineering, Nishad Singh, is located and whether or not he has come forward yet. Following Ellison’s and Wang’s Guilty Plea, All Eyes Are Focused on 2 More Top FTX Execs Reports stemming from the SDNY federal court, the CFTC, and the SEC indicate that FTX co-founder Zixiao (Gary) Wang and ex-Alameda Research CEO Caroline Ellison have pleaded guilty to fraud charges. According to the U.S. attorney Damian Williams, Ellison and Wang are cooperating with law enforcement officials in a plea bargain for lighter sentences. In addition to the announcement on Wednesday, Williams urged others that were involved in FTX’s misconduct to come forward as soon as possible. “[Law enforcement] is moving quickly and our patience is not eternal,” Williams stressed. One person who was not mentioned in the most recent indictments against Ellison and Wang was FTX’s director of engineering Nishad Singh. According to public documents, in 2017, Singh graduated from the University of California, Berkeley, with a Bachelor’s degree in electrical engineering and computer science engineering. He worked for Facebook for a total of five months in 2017, after graduating from college. Prior to his role as FTX’s director of engineering, Singh was the director of engineering at Alameda Research. It was well known that Singh was a very close member of Sam Bankman-Fried’s (SBF) inner circle and he’s been accused of misconduct in regard to FTX’s collapse. For instance, reports have detailed that Singh was allegedly part of SBF’s secret Signal chat channel called “Wirefraud.” The Australian Financial Review’s United States correspondent Matthew Cranston said: “[AFR] has [learned] that FTX founders Sam Bankman-Fried and Zixiao ‘Gary’ Wang, along with FTX engineer Nishad Singh and former Alameda Research chief executive Caroline Ellison, used a chat group on Signal in the hope that the information would remain hidden.” Records also show that Singh became a significant donor to the U.S. Democratic party and he donated $8 million during the 2022 midterm election cycle. Singh was the 34th largest Democrat donor, while his former boss SBF was the second largest Democrat donor under George Soros. Research also shows that Singh, alongside SBF and Wang, was responsible for FTX’s codebase, wallets, and trading engine. Bloomberg reported that Singh allegedly “authored code that hid Alameda Research’s ballooning liabilities.” In the same report, the CFTC detailed that a great deal of FTX’s liabilities were hidden in a sub-account called the “Korean account,” which was reportedly used by SBF, Ellison, Wang, and Singh to obscure funds. Singh was also close to another FTX inner circle member named Ramnik Arora, and Singh was one of nine housemates that lived with SBF. Singh once said that FTX was his “dream job,” and ever since FTX collapsed, no one has heard from the former FTX director of engineering. Singh’s and SBF’s good friend Arora, the head of product and investor relations, was also an important instrument to the FTX machine. Arora is described in reports as SBF’s “key lieutenant” and according to sources, he was the main executive who bolstered FTX’s relationships with Sequoia Capital and other investors. An article published by The Information claims FTX’s Arora was “integral to FTX’s expansion,” and if it wasn’t for Arora’s efforts, FTX may not have raised as much money as it did. Like Singh, no one has heard from Arora yet, either, and whether or not he has come forward to address issues with U.S. law enforcement. So far, it seems only three of SBF’s inner circle members have snitched on him: Caroline Ellison, Ryan Salame, and Gary Wang. U.S. attorney Damian Williams said on Wednesday that the FTX investigation is still ongoing, and more announcements will be made in the near future. With Salame, Ellison, and Wang in the bag, it looks as though no one who committed misconduct at FTX will be left unexposed. What do you think about the fact that no one has heard from FTX’s director of engineering Nishad Singh yet? Do you expect other high-up FTX executives to come forward? Let us know what you think about this subject in the comments section below. View the full article

Dogecoin rebounded from Wednesday’s decline, as the meme coin moved away from a key support level. Prices have been hovering close to a two-month low in recent days, with today’s surge bringing optimism to remaining bulls. Litecoin was also higher, as the token remained close to a one-week high. Dogecoin (DOGE) Dogecoin (DOGE) was in the green on Thursday, as the meme coin rebounded from recent lows. Following a low of $0.07283 on Wednesday, DOGE/USD raced to an intraday peak of $0.07736 earlier in today’s session. The move comes as prices rallied, following a recent collision with a support point at the $0.0715 level. As can be seen from the chart, today’s move comes as the 14-day relative strength index (RSI) raced to a ceiling of 40.00. Since this time, earlier gains have somewhat faded, with the meme coin trading at $0.07657 as of writing. Should price strength manage to climb above this threshold, then DOGE could rally to a ceiling near $0.0800. Litecoin (LTC) Litecoin (LTC) also rose on Thursday, as the token continued to trade near a one-week high. LTC/USD hit a peak of $66.51 earlier in today’s session, which comes less than a day after it was residing at a low of $65.09. Today’s high is marginally below Tuesday’s top at $66.90, which was the highest point LTC had hit since last Friday. Looking at the chart, the move comes despite the 10-day (red) moving average (MA) recently extending its downward cross with the 25-day (blue) MA. As of writing, the RSI is tracking at 39.67, which is below the next visible resistance line at 45.00. Bulls will likely target this point, which could see LTC climb above the $70.00 price point. Register your email here to get weekly price analysis updates sent to your inbox: Could LTC hit $70.00 in the coming few days? Let us know your thoughts in the comments. View the full article

Interest rates will continue to rise while the euro area falls into recession, a high-ranking executive at the European Central Bank (ECB) has indicated. His statements follow the latest rate increase announced by the monetary authority last week and revised projections showing higher than previously expected inflation in Europe ahead. ‘We Have No Choice But to Raise Interest Rates,’ ECB’s Luis de Guindos Admits Recognizing that the eurozone is entering recession, ECB Vice President Luis de Guindos has nonetheless insisted that the regulator should continue to raise interest rates in order to keep inflation under control. With the indicator likely to remain well above the price stability target, inflation of 2% over the medium term, the top executive told Le Monde “We have no choice but to act.” On Thursday, Dec. 15, the ECB raised the deposit facility rate by 50 basis points to 2%. In the interview conducted the same day but published by the French daily and the bank on Dec. 22, de Guindos acknowledged that the European economy is “perhaps in negative territory” during the fourth quarter of 2022. With GDP expected to contract by 0.2%, he elaborated: The lead indicators we have are not good. Our projections therefore expect the euro area to fall into a mild recession in the last quarter of this year and in the first quarter of 2023, when GDP is expected to contract by 0.1%. While growth projections published in December are similar to the estimates from September, those regarding inflation have changed substantially, pointed out the former economy minister of Spain. Expectations for inflation have been revised upward significantly, from 5.5% to 6.3% for 2023 and from 2.3% to 3.4% for 2024, de Guindos detailed. During a press conference after the last week’s rate hike, ECB President Christine Lagarde announced that there will be several further increases next year. Asked if that would make some governments unhappy, her deputy emphasized that inflation is currently the main problem for countries across Europe. While admitting that raising interest rates will increase funding costs for European governments, Luis de Guindos insisted the ECB has to stick to its mandate. With inflation currently at 10%, the banker is convinced that “We have no choice … Because if we don’t control inflation, if we do not put inflation on a convergence trajectory towards 2%, it will be impossible for the economy to rebound.” His comments come after the U.S. Federal Reserve raised the federal funds rate by 50 basis points in mid-December. The 0.5 percentage point increase followed four consecutive rate hikes of 75 basis points. Do you think the ECB will be able to slow down inflation in the eurozone? Share your expectations in the comments section below. View the full article

Cryptocurrency prices mostly consolidated on Thursday, ahead of upcoming GDP figures from the United States. Bitcoin remained close to the $17,000 level in today’s session, with the global market cap trading 0.01% lower as of writing. Ethereum was largely unchanged, as prices continued to trade above $1,200. Bitcoin Bitcoin (BTC) continued to consolidate ahead of this afternoon’s third quarter GDP data from the United States. This afternoon’s figures are expected to show growth of 2.9% in the quarter, as inflation in the U.S. began to slow down. BTC/USD hit a high of $16,895.71 ahead of the data release, which is marginally higher than Wednesday’s bottom at $16,755.91. Looking at the chart, today’s consolidation comes as the 14-day relative strength index (RSI) continued to hover near a support point at 46.00. As of writing, the index is tracking at the 46.49 level, and could be set to break out of this point at any moment. Should this occur, bearish sentiment will likely return to the market, with prices heading towards $16,500. Ethereum Ethereum (ETH) also consolidated in today’s session, with bulls managing to keep prices above the $1,200 level. Following a low of $1,208.03 in Tuesday’s session, ETH/USD was marginally higher on Thursday, as it rose to a peak of $1,219.61. The move sees the world’s second largest cryptocurrency continue to be a stone’s throw away from a ceiling at $1,230. Despite the prospect of higher highs, overall momentum seems relatively bearish, with the 10-day (red) moving average extending a crossover with its 25-day (blue) counterpart. As can be deduced from the chart, the RSI also looks set for a down trend, as it failed to break out of its current ceiling at 47.00 In order for bullish sentiment to return, it is likely that a move beyond this resistance will need to take place. Register your email here to get weekly price analysis updates sent to your inbox: Do you expect ethereum to be above $1,230 before Christmas? Leave your thoughts in the comments below. View the full article

Paxful, a New York-based, peer-to-peer (P2P) cryptocurrency exchange, will drop Ethereum trading from its platform on Dec. 22. Ray Youssef, CEO of the company, cited different reasons for this decision, with increased centralization and the recent consensus mechanism pivot amongst them. Youssef also stated that tokens built on top of Ethereum have been primarily scams. P2P Exchange Paxful Drops Ethereum Paxful, a New York-based, peer-to-peer cryptocurrency exchange, has announced that it will drop Ethereum from its platform. The announcement was made via email, and then using social networks, by Paxful’s CEO Ray Youssef, who stated that the changes the token has undergone recently have changed it into a “digital form of fiat.” Youssef explained that one of the first reasons behind this action has to do with the pivot that Ethereum executed, changing from a proof-of-work consensus mechanism like the one Bitcoin also implements, to a proof-of-stake mechanism. Youssef explained that proof-of-work is the “innovation that makes Bitcoin the only honest money there is.” Another reason behind the decision has to do with the increased centralization of Ethereum after this consensus change. Youssef stated that Ethereum is currently managed by a small group of people and that it will become a permissioned network eventually. Scams and Criticism Youssef also touched on tokenization and how bad actors have taken advantage of the platform to commit scams using Ethereum. He stated: The tokens that ETH has spawned have been scams that have robbed people of billions. Furthermore, Youssef stated that Paxful will always do “the right thing,” even if that costs the company money. The statements made by Youssef caused various reactions on social media, with some users criticizing the logic behind this decision. When asked if the exchange would become Bitcoin only, Youssef answered that stablecoins issued on top of Ethereum, like USDC and USDT, had real use and they could not completely eliminate Ethereum from the platform because users need to pay transaction fees. However, 94% of the trades on Paxful involve only bitcoin, according to Youssef. Paxful was one of the exchanges that suspended their services for Venezuelan users on Sept. 2020 due to the set of sanctions applied by the U.S. government. The exchange reported trading volumes of $1.1 billion during the first half of 2020. What do you think about Paxful’s announcement about dropping Ethereum from its platform and the reasons behind this move? Tell us in the comments section below. View the full article

B2BinPay is perfect for businesses looking for a reliable, cost-effective cryptocurrency payment processing solution; the top payment solution B2BinPay has recently improved its commissions, website, Enterprise and Merchant Models, and the platform itself. With newly lowered costs and an improved user experience on their redesigned website, B2BinPay is making it easier than ever for businesses to get started with their services. Pricing Structures Have Been Updated The B2BinPay team has made a big move to increase value for the customers, announcing changes to their pricing plans, including lower percentage tiers and volume thresholds for the Merchant Models shown below: B2BinPay also announced an updated and improved onboarding fee for Enterprise customers, having been reduced from $1,500 to just $1,000. Additionally, the threshold of percentage tiers for Enterprise users has been adjusted, allowing users to save a significant amount of funds. The changes are illustrated below: Also worth mentioning is that all outbound transactions are free! These are some of the lowest prices on the market and provide excellent value for B2BinPay clients. New Website Design, Better UI, More Features Visitors to the B2BinPay website will find a brand new, revamped design that allows for easier navigation and access to essential information about their products and services. With pages dedicated to each offering, getting what you need from this leading digital payments platform has never been easier. Streamlined navigation leads visitors directly to the most important content, making it easier than ever to make informed decisions. B2BinPay also published a comprehensive guide on On-Chain and Off-Chain transactions. And the website now offers a thorough summary of every On-Chain and Off-Chain transaction between users. On-chain transactions occur on the blockchain and must be confirmed by network participants. However, B2BinPay does not charge a commission for On-chain transactions, but the consumer still pays for the blockchain commission. At the same time, Off-chain transactions are handled by B2BinPay’s exclusive technology and take place outside the blockchain. With this technology, users can save money on transaction fees and processing time while enjoying secure, fast transfers within the B2BinPay user community. In a move to make navigating the cryptocurrency world easier and more convenient, B2BinPay’s team has added an “Available Currencies” page featuring more than 80 different coins. And now, customers will be able to take advantage of the FAQs section too, which offers detailed answers to any questions about services, functionality and security measures, and more. The product, B2BinPay, was also upgraded with support for Cardano (ADA), Merchant Invoice Limits, and Delta Amount, in addition to some user-friendly enhancements. In addition, companies can now quickly and simply integrate blockchain technology into their payment systems using B2BinPay’s API, offering more ease and security than ever before. Within a few clicks, all relevant documentation is available. Additional New Tokens B2BinPay has announced its most recent expansion of currency and token offerings in its Merchant and Enterprise models, boasting nearly 100 tokens such as WBTC, ANKR, GALA, IMX, and more. Enhanced Merchant Models B2BinPay has revamped its model offerings, now offering three distinct models instead of the previous two: Merchant (Fiat Settlement), Enterprise, and Merchant (Crypto Settlement). The latter option allows users to open virtual wallets denominated in USDT, USDC, and BTC. Verdict The B2BinPay team has worked hard over the last year to offer competitive fees and pricing models, ensuring customers find the ideal plan that suits their individual needs. With its improved features and user-friendly interface, B2BinPay is an excellent choice for companies looking to incorporate cryptocurrency payments into their operations. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Cryptocurrency exchange Binance is behind an initiative to qualify university students in Kazakhstan to work in the industry. Under an agreement with the government, the blockchain course will be added to the curricula of higher education institutions across the country. Binance Exchange to Help Teach Blockchain at Kazakhstan’s Universities The world’s largest crypto exchange, Binance, is launching an education program in Kazakhstan. The trading platform is preparing to provide blockchain training to more than 40,000 students by 2026 at universities and colleges across the Central Asian nation, according to a press release published on Tuesday. Binance is partnering on the initiative with the Blockchain Center research lab established by the Center for the Development of Payment and Financial Technologies of the National Bank of Kazakhstan (NBK) and the Astana International Financial Centre (AIFC), the Ministry of Digital Development, and the Ministry of Education. The project will be realized under a memorandum of cooperation with these government organizations signed by Zhaslan Madiyev, general manager of Binance Kazakhstan. In accordance with the agreement, the exchange will provide educational materials and support for the basic course on blockchain and compliance. Kazakhstan now becomes one of the first countries to add a blockchain curriculum to the educational programs of universities, the announcement noted. “Professionals with the knowledge of blockchain, digital assets and compliance will become a resource for the global blockchain industry,” the participants hope. Gleb Kostarev, Asia regional head at Binance, commented: We support Kazakhstan’s goal to become a leading player in digital technologies which would not be possible without increasing education and blockchain adoption around the country. Global Cryptocurrency Exchange Seeks Expansion in Central Asia The initiative stems from a meeting of Binance founder and CEO Changpeng Zhao with President Kassym-Jomart Tokayev in May of this year. In October, Binance offered to support Kazakhstan’s government in the “safe development” of the country’s crypto sector. The NBK plans to use the Bnb Chain for the deployment of its digital tenge. Also in October, Binance was licensed to operate as a provider of crypto exchange and custody services out of the Astana financial hub. The focus on Kazakhstan comes after it became a major mining hotspot since Chinese authorities cracked down on the industry in 2021. Its government has been trying to regulate the crypto space. The global platform has been seeking to expand its presence in the region amid the ongoing crypto winter and held meetings with officials in neighboring Kyrgyzstan as well. Earlier this month, it also offered to support the government of Azerbaijan, another former-Soviet republic, in its efforts to establish a national regulatory framework for digital assets. Do you think blockchain education programs will help crypto adoption in Central Asia? Share your thoughts on the subject in the comments section below. View the full article

Despite the market conditions that prevailed in much of 2022, decentralized finance (defi) still demonstrated its greater scaling potential than that of the traditional financial industry, a new report has said. Even though the total value locked dropped from the peak of $180 billion in Dec. 2021, to just over $50 billion by end of Oct. 2022, certain sectors of the defi market still “show a very optimistic trend.” Decline in Total Value Locked According to Hashkey Capital’s end-of-year report, decentralized finance (defi) has the “potential to be many times more scalable than the traditional financial industry.” In addition to the scaling potential, defi protocols are resilient and are likely to emerge from black swan events such as the Terra luna/UST collapse unscathed, the report suggested. However, in the report titled Defi Ecosystem Landscape Report, Hashkey Capital — an end-to-end digital asset financial services group — acknowledged that unfavorable market conditions that largely prevailed in 2022 had contributed to the decline in the value of total assets under management. “The decline of the TVL – Total Value Locked (a proxy for total assets under management in Defi) – was also motivated by the general market conditions. Lower crypto prices (due to generally unfavourable macro) mean that the value of the collaterals provided in Defi lending is also lower, reducing the motivation to get a loan against those collaterals. DEX [decentralized exchange] activity and crypto trading volumes are also lower,” the report said. As shown by the report’s data, the TVL, which peaked at $180 billion in Dec. 2021, dropped from just under the $150 billion seen around May 2022, to just over $50 billion in late October. Despite this TVL decline, according to the report, certain sectors of the defi market still “show a very optimistic trend.” Defi Growth Slowdown Concerning the extent of adoption, the report acknowledges that there has been a slowdown in the growth rate in 2022 (31%) when compared to 2021 (545%). Remarking on this outcome, as well as the rise in number of wallets to over 5 million, the report said: 2022 can be seen as a year of consolidation where most projects are busy building and improving their products rather than spending their resources on marketing activities. 2022 is also the year when the UI and user experience of Defi protocols improved significantly, to a level that we can finally say that it’s easier to use some Defi protocols than using a home banking app. According to the report, a large chunk of support for Defi protocols came from venture capital (VC) firms which poured “$14 billion into 725 crypto projects (many of those are Defi)” in the first half of 2022. On the likely trigger of the next defi summer, the report points to the derivatives and options sector where key platforms like GMX saw a “substantial growth in the number of users and TVL.” From the TVL of $108 million at the start of 2022, GMX saw this value grow to $480 million by the end of October. Another platform, Dydx, which saw the price of its token drop by 90% in one year, “earned over $50 million in revenue and continues to have over 1000 weekly active users.” What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

U.S. Congressman Warren Davidson has touted the self-custody of cryptocurrencies as the antidote to crypto exchange FTX’s fraud. He is pushing for his bill called “Keep Your Coins Act,” which aims to “protect self-custody from misguided attempts to restrict it.” U.S. Lawmaker Pushes for Self-Custody Congressman Warren Davidson (R-Ohio) has touted crypto self-custody following the collapse of cryptocurrency exchange FTX. He tweeted Wednesday: Self-custody is the antidote to FTX’s fraud and my Keep Your Coins Act would protect self-custody from misguided attempts to restrict it. “Anyone attacking self-custody is telling you they oppose individual freedom,” the lawmaker added. Responding to a question on Twitter about why new laws are needed if people can already self custody today, the congressman replied: Current and previous Treasury secretaries have discussed banning what they call ‘self-hosted wallets’ — self-custody. Senator Elizabeth Warren and numerous other members of Congress have proposed bans. We need to positively protect it to defend freedom — like the Bill of Rights. The congressman from Ohio announced his “Keep Your Coins Act” in February. Noting that the bill seeks to “preserve Americans’ right to privacy in transacting with crypto assets,” the lawmaker explained at the time that “Specifically, this legislation would prohibit any federal agency from promulgating a rule that would impair a person’s ability to act as self-custodian.” Senator Elizabeth Warren unveiled a bill titled “Digital Asset Anti-Money Laundering Act” last week. According to crypto advocates, it is “the most direct attack on the personal freedom and privacy of cryptocurrency users and developers we’ve yet seen.” Last week, Davidson said he believes former FTX CEO Sam Bankman-Fried (SBF) was arrested before the House and Senate hearings took place because the Securities and Exchange Commission (SEC) and other regulators “did not want to give Congress an opportunity to ask SBF about their failed oversight.” One lawmaker who recently suggested that crypto could be banned is Senator Sherrod Brown (D-Ohio), the chairman of the Senate Banking, Housing, and Urban Affairs Committee. However, he acknowledged that banning crypto “is very difficult because it will go offshore and who knows how that will work.” Commenting on Senator Brown’s banning crypto suggestion, Rep. Davidson tweeted: Ohio needs a new Senator, the Senate Banking Committee needs a new Chairman, and Congress needs to understand its failure to act is actively exposing consumers, investors, and innovators to avoidable risk. Senator Pat Toomey (R-PA), ranking member of the Senate Banking Committee, concurred with Davidson. He has stressed that the idea of banning crypto is “profoundly misguided, not to mention impossible.” The senator from Pennsylvania emphasized: “Short of enacting draconian, authoritarian policies, cryptocurrency cannot be stopped. If we tried, the technology would simply migrate offshore.” What do you think about the comments by Congressman Warren Davidson about the self-custody of cryptocurrencies? Let us know in the comments section below. View the full article

Ethereum classic rallied for a second straight session on Wednesday, following better-than-expected U.S. consumer confidence data. The figures showed that confidence among American consumers rose to the highest level in eight months, with a reading of 108.3. Monero was also higher on the news, as it extended recent gains. Ethereum Classic (ETC) Ethereum classic (ETC) rose for a second straight day on Wednesday, as markets responded to better-than-expected U.S. consumer confidence data. Today’s figures, which were initially expected to come in at 101, came in higher than anticipated, with a reading of 108.3 in December. As a result of today’s data, ETC/USD raced to a peak of $16.64 earlier in the day, which is nearly 5% higher than Tuesday’s low at $15.59. Looking at the chart, the move came as price continued to move away from Monday’s bottom of $14.74, which was the lowest point ETC had hit since July. The surge coincided with the 14-day relative strength index (RSI) climbing from a floor of its own at 28.00, and it is currently tracking at 37.61. The index now seems set to collide with a resistance at 41.00, which could mean that prices will begin to decline. Monero (XMR) Monero (XMR) was another notable gainer in today’s session, as prices surged for a fifth straight day. Following a low of $146.31 on Tuesday, XMR/USD surged to an intraday high of $148.16 earlier in the day. Wednesday’s move now puts monero at its highest point since Friday, with the token closing in on a resistance level at $150.00. From the chart, the move comes as the RSI rose above a resistance level of 54.00, and it is currently tracking at 55.88. Despite recent bullish sentiment, the 10-day (red) moving average now looks set to crossover with its 25-day (blue) counterpart. Should this move take place, then XMR will likely move towards a floor around the $139 region. Register your email here to get weekly price analysis updates sent to your inbox: Could bullish momentum continue throughout the week? Let us know your thoughts in the comments. View the full article

On Dec. 21, 2022, one of the largest bitcoin mining operations in the industry, Core Scientific, filed for Chapter 11 bankruptcy protection in the Southern District of Texas. According to the filing, Core Scientific has roughly 1,000 to 5,000 creditors and its estimated assets are worth between $1-10 billion. Core Scientific Voluntarily Files for Chapter 11 Bankruptcy Protection, Company’s Largest Unsecured Creditor Is the Financial Institution B. Riley Another crypto firm has filed for bankruptcy protection as the crypto winter has caused a myriad of businesses to shudder this year. On Wednesday, Core Scientific (Nasdaq: CORZ), one of the largest bitcoin mining companies, filed for bankruptcy in Texas. The filing notes that Core Scientific has $1-10 billion in assets, but also $1-10 billion in liabilities as well. Additionally, Core Scientific details that the largest creditor is the financial institution B. Riley, alongside 1,000 to 5,000 other creditors. Core Scientific joins a long list of crypto firms that have filed for bankruptcy protection this year, and is one of several crypto mining operations that have faltered financially as well. For instance, in late Sept. 2022, Compute North filed for Chapter 11 bankruptcy protection. Financial issues have struck bitcoin mining operations like Argo Blockchain, Iris Energy, and Greenidge Generation. Greenidge managed to secure a restructuring deal with NYDIG on Dec. 20, but Greenidge’s financials say voluntary bankruptcy is still in the cards. According to the filing, Core Scientific operated close to 250K machines and roughly 24.4 exahash per second (EH/s) of hashrate. In addition to B. Riley, other Core Scientific creditors include Dalton Utilities, Shell Energy Solutions, U.S. Customs and Border Patrol, Duke Energy, Amazon Web Services Inc., DK Construction Company, and Liveview Technologies. The company also owns equity interest in subsidiaries like Radar Relay, Starboard Capital, and American Property Acquisition. The Chapter 11 filing was submitted by Core Scientific’s president Todd DuChene. On Wednesday, a person familiar with the matter told CNBC that Core Scientific still generates positive cash flow and the mining operation will continue mining bitcoin to pay down debts. The source further said that the operation will not liquidate and it plans to negotiate a deal with senior security noteholders, CNBC contributor MacKenzie Sigalos detailed. What do you think about Core Scientific filing for Chapter 11 bankruptcy protection on Dec. 21? Let us know what you think about this subject in the comments section below. View the full article

Bitcoin was briefly trading above $17,000 on Wednesday, as markets prepared for the release of the upcoming U.S. consumer confidence report. Today’s figure is expected to come in at a reading of 101.00 for December, which is higher than last month’s number of 100.2. Ethereum was also in the green, as it neared a key resistance level. Bitcoin Bitcoin (BTC) rose briefly above the $17,000 level on Wednesday, as markets began to anticipate the release of the upcoming U.S. consumer confidence report. Following a low of $16,763.66 on Tuesday, BTC/USD raced to an intraday high of $17,012.98 earlier in today’s session. Today’s surge comes as prices once again rose above a key resistance level at the $16,800 level. Looking at the chart, BTC has moved away from earlier highs, with the coin currently trading at the $16,868.40 mark. This comes despite the 14-day relative strength index (RSI) failing to break out of a recent ceiling at 49.00. As of writing, the index is tracking at the 47.03 level, and seems to be heading for a floor at 46.00. Ethereum Ethereum (ETH) continued to trade above $1,200 on Wednesday, with bulls pushing prices closer to a key resistance level. ETH/USD hit a peak of $1,224.09 earlier in today’s session, which comes less than 24 hours after hitting a bottom of $1,206.44. Despite prices nearing a ceiling at the $1,230 mark earlier in the day, bearish sentiment has increased at this level, leading to previous bulls retreating. As of writing, the world’s second largest cryptocurrency is trading at $1,214.44, which comes following a recent crossover of moving averages. Looking at the chart, a downward cross between the 10-day (red) and 25-day (blue) moving averages has occurred, which typically is a sign of pending declines. Should this momentum intensify in the coming days, ETH could likely move back towards a floor of $1,160. Register your email here to get weekly price analysis updates sent to your inbox: Will today’s consumer confidence report send crypto prices higher? Leave your thoughts in the comments below. View the full article

The Ministry of Culture and Sports of Spain has decided to direct 8 million euros ($8.5 million) toward the development of video games and narrative metaverse experiences. The program, part of the Spanish “Recovery, Transformation, and Resilience Plan” will give grants directed to incubate projects in these areas in 2023. Spain Directs 8 Million Euros to Help the Metaverse and Video Game Ecosystem Video games and metaverse experiences are starting to be considered in the cultural plans of some key states around the world. The Ministry of Culture of Spain has decided to direct 8 million euros ($8.51 million) for the development of video games and metaverse experiences, as the organization recognizes the value of these industries for the country. The program, which is currently in its second wave, increased the funds by 700% compared to its first wave when little more than 1 million euros were destined to help companies in the sector. However, 25 projects were selected to enjoy these grants at that time. The funds, to be provided by the European Union, will be delivered in the form of yearly or multi-yearly grants to companies in the sector as a part of the “Recovery, Transformation, and Resilience Plan” that seeks the digitization and modernization of all aspects of the Spanish economy. Other countries, such as Korea, have already directed funds for metaverse investments. Importance of Video Games and Metaverse To the minister of culture of Spain, Miquel Iceta, the video game industry has a big part to play in the transformation of the Spanish productive model. About these grants, Iceta stated they “will contribute to promoting the projects of our SMEs [small and medium-sized enterprises] and our self-employed workers, thus consolidating the image of Spain as a reference audiovisual hub, also in the videogame sector.” As part of this commitment, video games, as metaverse experiences, will now be considered cultural creations. This means that now the National Library of Spain will have to conserve these as Spanish heritage, and they will be collected to ensure preservation for future generations. The immersive experiences sector is significant in the country, where video games are the most popular audiovisual entertainment option in Spain, leaving movies behind. This is why Iceta wants to put Spain in a spot where it can compete with other countries in the industry and export its games to other nations. The Spanish video game market is also expected to grow 20% yearly, so its size might cross the 2.3 billion euro ($2.44 billion) mark in 2024. What do you think about the grant programs offered to the metaverse and the video game industry by Spain? Tell us in the comments section below. View the full article

As winners of the ETH hackathon in 2021, the Hackless team is now releasing the beta version of Anti-Sandwich – a gateway to safe and efficient swapping of crypto assets, avoiding public mempools and consequently, getting ‘sandwiched’. The solution has already proved effective for a play-to-earn platform and is now open to a wider audience. The risks of DeFi Financial freedom is simultaneously the biggest groundbreaker and risk of DeFi. Transition to decentralised exchanges puts users in control of their assets, but it also makes them solely responsible for ensuring the security of their funds. Given that the industry is still developing, so is its security level, resulting in quite a limited market offering. Hackless is a DeFi security provider of advanced solutions to protect projects and individual users from hacks, exploits and attacks of different kinds, as well as helps migrate funds from already hacked protocols and wallets. A sandwich attack is a relatively new but increasingly frequent and an already well-known type of front and back running attack. According to a report published by TarLogic, between May 2020 and April 2022, there were a total of 457,691 sandwich attacks detected with an average ROI above 4%. The most profitable attack ever was spotted in May 2021 having taken 56 ETH worth of $200,000 at that time. It was achieved in just two transactions executed within the second. Sandwich attacks explained Sandwich attacks include both front-running and back-running tactics applied over buy transactions sent to DEX. To do this, attackers watch a mempool – for suitable transactions and once an opportunity arises, they buy the same token first and sell it after the transaction has been executed. When breaking down a sandwich attack, three clear stages are seen: An attacker detects a high-value transaction in the mempool and puts a buy transaction to pump the asset price. A user buys coins at a higher price. The attacker sells coins pocketing the difference in price. Choose the best Anti-Sandwich protection for you Hackless enables each and every DeFi user to swap assets, avoiding public mempools. This means that you send your transactions directly to miners, making them invisible to exploiters. The service is available on the Hackless website via an intuitive and easy to use widget. All you need to do is to connect your Metamask, select the network and token and sign the transaction, which will be submitted to private miners automatically. Anti-Sandwich for business According to the REKT Database, DeFi protocols have lost $6 billion in total, due to scams, hacks, and exploits of different kinds, sandwich attacks included. Hackless is now introducing a solution for those DeFi companies that wish to offer extra protection, as well as a better product experience, to their users. Anti-Sandwich by Hackless is the best fit for blockchain projects in need of a fast and secure swapping widget. The solution is now available on Ethereum and Binance Smart Chain networks with further expansion to other chains. With the Anti-Sandwich widget on the client’s website, users can easily swap project tokens without ever leaving the website. This makes the user experience smoother and also safer, while averting potential sandwich attacks and confusion with any other tokens. The widget is easily pluggable to any website via the NPM library, as well as customizable to brand design and feel. 10,000 $HKLS airdrop pool for early adopters While the best perk is actually avoiding getting ‘sandwiched’ and losing your money, Hackless also encourages the most security conscious teams and folks by airdropping 10,000 HKLS tokens, giving referral bonuses and more. Early adopters are the luckiest for sure – not only do they have a chance to try out the service free of charge, but also participate in the dedicated airdrop activity via Gleam. To learn more about Hackless and how it can boost DeFi security, visit the project’s site, and make sure to join the community on Discord and Telegram. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

According to a new study, out of the estimated 55.3 million cryptocurrency holders that are spread among 33 African countries, three countries — Nigeria, South Africa, and Kenya — account for approximately 36.14 million or nearly two-thirds of this total. In contrast, the study found that Seychelles, which is home to several cryptocurrency exchanges, has approximately 1,000 cryptocurrency holders. Nigeria Dominates The findings of the latest study undertaken by the Moroccan think tank Policy Center for the New South (PCNS), suggest that Nigeria has by far the largest number of cryptocurrency holders (40.5%) among the 33 African countries that were surveyed. The study findings also show South Africa as the next highest-ranked African country with an estimated 7.71 million cryptocurrency holders. Kenya’s estimated 6 million crypto holders mean it is the third highest-ranked African country. In addition to having the highest number of crypto holders among the surveyed states, the three countries are the only ones whose proportion of holders relative to their population size is higher than 10%. However, when using this metric, it is South Africa — whose proportion of crypto holders is 12.27% — that is ranked number one. Kenya is ranked second with 11.85% while Nigeria, Africa’s most populous state, is ranked third with 10.33%. Rising Number of Crypto Holders Down to Urban and Economic Factors For the rest of the surveyed countries, the PCNS study found that the proportion of crypto holders ranges between one and five percent. Ghana (4.3%) and Togo (4.22%) lead countries in this category, while Cabo Verde (1%) is the lowest ranked. Meanwhile, in Seychelles, where major cryptocurrency exchanges like Huobi and Kucoin are domiciled, the percentage of crypto holders relative to its estimated 90,000 plus inhabitants is 1.33%. Commenting on the findings, the PCNS study’s summary states: Such emergence owes nothing to chance. Demographic, urban and economic factors specific to the continent explain it in part. The other explanatory part is linked to the technology of cryptocurrencies, [how this] allows the transfer of capital more quickly and at a lower cost. In jurisdictions that have banned or restricted the use of cryptocurrencies like Nigeria, the summary said such countries should now consider regulating. Register your email here to get a weekly update on African news sent to your inbox: What are your thoughts on this story? Let us know what you think in the comments section below. View the full article

The alleged operator of crypto exchange BTC-e, Alexander Vinnik, has asked to be released on bail due to the delay in court proceedings. In early August, the Russian IT specialist was extradited to the United States to face charges of money laundering through the now-defunct coin trading platform. Vinnik’s Defense Appeals for His Release on Bail After Months in U.S. Custody Crypto entrepreneur Alexander Vinnik has applied for release on bail because of the delay of his trial, according to Russian media. He has been in U.S. custody for over three months but the documents required by the court have not been provided by the respective American authorities, his lawyers have pointed out. According to information published in the Northern District of California’s federal court documents database on Friday, Vinnik’s defense team is asking for all documents pertaining to the trial to be presented within 60 days. Alexander Vinnik believes he should be released on bail or allowed to exercise the right to a speedy trial as the U.S. government has not fulfilled its obligations after promising to provide evidence in this case, the daily Izvestia unveiled in a report quoting the appeal. The alleged operator of BTC-e was arrested in July 2017, while on vacation in Greece with his family. He was detained on a warrant issued by U.S. authorities who accuse him, among other crimes, of laundering between $4 billion and $9 billion through the crypto exchange. Besides the U.S., the French judiciary also wanted his extradition and Greek authorities decided to first hand him over to France in 2019. After serving a sentence there, he was returned to Greece this past summer and extradited immediately to the United States. Both French and Greek authorities have ignored extradition requests submitted by Russia. Vinnik appeared in San Francisco federal court on Aug. 5 maintaining his innocence. Later that month, Russian media reported that he had been denied release on bail, quoting his record on the website of the Santa Rita Jail in California where he was incarcerated. In September, his French lawyer Frederic Belot urged the Russian government to consider Vinnik in a potential prisoner exchange deal with the U.S., pointing out that the maximum sentence for Vinnik’s charges, 55 years, would amount to imprisonment for life for the 43-year-old Russian. His health has been deteriorating after solitary confinement in France and hunger strikes in Greece. Do you think Alexander Vinnik’s appeal for release on bail will be granted this time? Share your thoughts on the case in the comments section below. View the full article

PRESS RELEASE. The popular online gift card exchange BuySellVouchers now accepts Binance USD (BUSD) as payment. With thousands of customers and sellers worldwide, BuySellVouchers has become one of the most significant gift card marketplaces which accepts crypto payments. To further serve its diverse customer base, BuySellVouchers marketplace continues to add new cryptocurrencies. E-Vouchers and e-Gift cards have grown in popularity as more and more people choose to do their shopping online. Recent events, like the COVID-19 outbreak, have accelerated the trend toward today’s enterprises’ widespread use of online platforms. The gift card trading industry continues to grow, which is now worth millions of dollars. The problem is that many of these online marketplaces need more user-friendliness and a more accessible environment. This also applies to the variety of payment methods and the size of commissions. With BUSD as a payment option, BuySellVouchers has provided its customers with a one-of-a-kind buying experience that combines affordability and adaptability. Currently, you can pay with the following cryptocurrencies on the BuySellVouchers marketplace: Tether ERC20 (USDT), Tether TRC20 (USDT), Litecoin (LTC), Ethereum (ETH), Bitcoin (BTC), and Binance USD (BUSD). You can also pay with electronic money, such as: Perfect Money, Advcash and Webmoney. If we continue to talk about the ease of use of the marketplace, then it is important to note that BuySellVouchers marketplace supports seven languages: English, Russian, German, Chinese, Spanish, French, and Arabic. Gift card trading is possible in a wide variety of categories: VoIP, Gift cards, Games, Prepaid Vouchers, Download / File hosting services, Mobile recharge, Software, E-books, Restaurants, and Other. Here you can buy and sell gift cards from Google Play, Apple iTunes, Apple App Store, Uber, Sephora, Ikea, Razer Gold, Roblox, Origin, Newegg, Nimbuzz, Rebvoice, Microsoft Windows, Skype, Netflix, Vanilla, Zalando, Openbucks, Azteco, CryptoVoucher, Binance, Free Fire, PlayerUnknown’s Battlegrounds, Apex Legends, IMO, Gpay, Alldebrid, PlayStation, Letitbit, Luminar, Xbox, SmileTV, Norton, Valorant, Fortnite, Nintendo, Noodle, T-mobile, Jawaker, Discord Nitro, GameStop, Mobile Legends, Vodafone, Blizzard, FIFA Coins and many others. It’s no surprise that BuySellVouchers has gained in popularity; the site charges just 0.4% (for gift card buyers) and 0.3% (for gift card sellers). Plus, most of the gift cards found on the platform can be purchased at a discount (cheaper than the face value of the gift card). Gift cards may be sent instantly or manually on the platform, depending on the vendor and purchased item. As an added perk, BuySellVouchers provide a weekly gift card giveaway. The registration process on the platform is simple and fast, you don’t need to enter credit card data to register. All you need is an email address. Visit BuySellVouchers.com to learn more about the marketplace and how you can buy and sell gift cards there. It’s also widely dispersed on social media platforms like Facebook, YouTube, and Twitter. About BuySellVouchers BuySellVouchers.com is an online marketplace that has been operating since 2012. It has gained its popularity due to the low commission fees and the range of different payment methods. On the platform you can buy and sell gift cards, vouchers, gift certificates and various other digital products. Many official distributors sell their products on the BuySellVouchers marketplace, confirming their high-quality standards. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Visa, the financial services corporation headquartered in San Francisco, California, published a blog post that talks about leveraging ethereum and the layer two (L2) scaling solution Starknet so people with self-custodial wallets can pay their bills. The blog post notes that while Ethereum doesnt support account abstraction or delegable accounts, the financial services company implemented a delegable accounts solution on Starknet, the L2 blockchain network. Visa Develops Account Abstraction Using the L2 Ethereum Scaling Solution Starknet, Payments Company Envisions a Future With Programmable Money On Dec. 19, 2022, Visa’s Crypto Thought Leadership blog published a post written by Andrew Beams, Catherine Gu, Srini Raghuraman, Mohsen Minaei, and Ranjit Kumaresan. Visa’s subject brief is about “auto payments for self-custodial wallets,” and Visa shows that it is possible to leverage Ethereum to execute auto-payments from a self-custodial wallet solution. However, the concept utilizes account abstraction, a feature that Ethereum core developers are currently debating. “Account abstraction (AA) is a proposal that attempts to combine user accounts and smart contracts into just one Ethereum account type by making user accounts function like smart contracts,” the Visa blog post details. In order to bypass the issue that AA is currently not feasible using Ethereum’s layer one (L1), Visa crypto researchers have summarized how they can accomplish auto payments for self-custodial wallets with AA via the L2 scaling solution Starknet. “With Starknet’s account model, we were able to implement our delegable accounts solution thus enabling auto payments for self-custodial wallets,” Visa explained. The company’s blog post adds: We see auto payments as a core functionality that existing blockchain infrastructure lacks. The Visa blog post on the subject originally stems from a research paper that was published in Aug. 2022. The news follows Visa filing trademark applications at the end of Oct. 2022 and the trademarks covered a broad range of crypto products including a wallet. Being one of the world’s largest payment networks, Visa said the firm wants to help “make money and payments programmable.” In addition to Visa, the second-largest payment-processing corporation worldwide and Visa’s competitor, Mastercard, is also working to make cryptocurrency solutions more accessible. During the first week of Nov. 2022, Mastercard said: “We’re welcoming a new cohort of startups to ease access to digital assets, build communities for creators and empower people to innovate for the future through Web3 technologies.” Visa’s statements are akin to the same ideas and the auto-payments from a self-custodial wallet solution could provide a myriad of concepts. “We shared a novel solution that leverages the concept of account abstraction to provide self-custodial wallets with automatic recurring payments capability,” Visa’s blog post concludes. “Using the approach we have introduced, other real-world applications beyond recurring payments could be brought to the blockchain.” What do you think about Visa’s auto payments for self-custodial wallets concept using Starknet? Let us know what you think about this subject in the comments section below. View the full article

Gold bug and economist Peter Schiff has warned that the price of bitcoin may not rise when other financial assets rebound, even though the crypto fell alongside them. “The bitcoin bubble popped and collectors will be selling no matter what happens to financial assets,” he predicted. Peter Schiff’s Bitcoin Outlook Economist and gold bug Peter Schiff shared his thoughts about the future of bitcoin and cryptocurrency in a series of tweets this week. He wrote Monday: The fact that bitcoin fell along with financial assets doesn’t mean that it will rise once those markets turn. “Bitcoin isn’t a financial asset. It’s a collectable digital token,” Schiff continued. “The bitcoin bubble popped and collectors will be selling no matter what happens to financial assets.” The economist also believes that bitcoin is not scarce despite the cryptocurrency’s 21 million supply cap. Responding to a tweet Tuesday stating that BTC is “the scarcest and most desirable asset the world has ever seen,” Schiff said: Bitcoin is hardly scarce and in no way desirable. If you want to lose your money there are plenty of ways to do it. You don’t need to buy bitcoin. Replying to another tweet claiming that bitcoin is a risk asset rather than digital gold, Schiff claimed that BTC is “More like a fool’s asset.” He asserted: “So, as long as people are foolish enough to buy bitcoin, the price will go up. Unfortunately for bitcoin HOLDers though there are plenty of fools in the world, I don’t think there are many left willing to buy bitcoin who don’t already own it.” Schiff is the founder and current chairman of Schiffgold, a precious metals dealer specializing in gold and silver bullion. He has long been a bitcoin skeptic, regularly bashing the crypto while promoting gold. Commenting on the collapse of FTX and subsequent calls for stronger crypto regulation, Schiff tweeted Monday: It’s ironic that the big players in crypto are looking to government to save the industry with additional regulation. “This goes against the very core of the original promise of Bitcoin, which was to be the free market alternative to the corrupt government fiat monetary system,” he added. In November, Schiff warned that bitcoin has a long way to fall, valuing BTC at $10K. He also believes that the U.S. dollar will crash and the Federal Reserve’s actions will lead to a massive financial crisis. What do you think about the comments by Peter Schiff? Let us know in the comments section below. View the full article

U.S. Senator Pat Toomey says illegal actions by crypto exchange FTX must be separated “from perfectly lawful and innovative cryptocurrencies.” Emphasizing that “The collapse of FTX is not an indictment of crypto,” he noted that “cryptocurrency cannot be stopped” and “the technology would simply migrate offshore” if Congress tried. Separating Illegal Actions From ‘Perfectly Lawful and Innovative Cryptocurrencies’ U.S. Senator Pat Toomey (R-PA) explained in his opening statement at the Senate Banking Committee hearing Wednesday that the collapse of crypto exchange FTX is not an indictment against cryptocurrency. “There was unauthorized lending of customer assets to an affiliated entity, and there were fraudulent promises to investors and customers about FTX’s operations. These are outrageous and completely unacceptable,” the senator described, emphasizing: I want to underscore a bigger issue here: The wrongful behavior that occurred here is not specific to the underlying asset. What appears to have happened here is a complete breakdown in the handling of those assets. “In our discussion of FTX today, I hope we are able to separate potentially illegal actions from perfectly lawful and innovative cryptocurrencies,” he told the Senate committee. Noting that cryptocurrencies “are actually software,” Senator Toomey explained: “What we should all understand here is one simple thing: The code committed no crime. FTX and cryptocurrencies are not the same thing. FTX was opaque, centralized, and dishonest. Cryptocurrencies are open-source, decentralized, and transparent.” Should the FTX Fallout Justify Banning or ‘Pausing’ Crypto? The senator from Pennsylvania proceeded to address suggestions that crypto should be banned following the FTX meltdown. “To those who think that this episode justifies banning crypto, I’d ask you to think about several examples,” he began. “The 2008 financial crisis involved the misuse of products related to mortgages. Did we decide to ban mortgages? Of course not. A commodity brokerage firm run by former New Jersey Senator John Corzine collapsed after customer funds — including U.S. dollars — were misappropriated to fill a shortfall from the firm’s trading losses. Nobody suggested that the problem was the U.S. dollar and that we should ban it.” Senator Toomey stressed: “With FTX, the problem is not the instruments that were used. The problem was the misuse of customer funds, gross mismanagement, and likely illegal behavior.” The lawmaker continued: Some of my colleagues have suggested pausing cryptocurrencies before we can address it. This is profoundly misguided, not to mention impossible. Short of enacting draconian, authoritarian policies, cryptocurrency cannot be stopped. If we tried, the technology would simply migrate offshore. “Are we going to decide to pause our Constitution to stop crypto? This is exactly the kind of mindset that has driven this activity to the dark and less regulated parts of the world,” he further opined. Should Congress Refrain From Regulating Crypto? Moreover, the lawmaker said: “Others have suggested we refrain from addressing cryptocurrency at all, so as to not legitimize its use. This is not only misguided, it’s irresponsible.” The senator detailed: “Individuals can also be tremendously empowered when they use cryptocurrencies. They can protect against inflation when governments irresponsibly manage their own currencies. They can provide useful services without the need for a company or middleman. And they can let individuals preserve the freedom to transact privately.” Toomey also tweeted Wednesday: The collapse of FTX is not an indictment of crypto. It’s an indictment of those who misused customer assets. “As I’ve said for months, Congress needs to give regulatory clarity so business flows to prudent, sensible, well-regulated American crypto exchanges,” he added. What do you think about the comments by Senator Pat Toomey about FTX and cryptocurrency? Let us know in the comments section below. View the full article

Disgraced FTX co-founder Sam Bankman-Fried (SBF) has reportedly reversed his decision to contest his extradition to the United States. Bankman-Fried has spent close to five days in the Bahamas Department of Correctional Services (BDOCS) jail Fox Hill, an overcrowded prison known for being filthy and one that has been accused of prison maltreatment. Reuters Source Says SBF Won’t Fight U.S. Extradition Request on Monday On Dec. 17, 2022, Reuters reported that “a person familiar with the matter said on Saturday” that Sam Bankman-Fried (SBF) plans to be more accepting of being extradited to the United States. The source noted that SBF will “reverse his decision to contest extradition” when he appears in court on Monday. The former FTX CEO was supposed to remain at Fox Hill until Feb. 8, 2023, after judge Ferguson-Pratt denied SBF’s request to be released on bail. The news concerning SBF follows the stories that noted the former FTX executive was residing in Fox Hill’s sick bay dormitory style with five other inmates. The acting commissioner of The Bahamas Corrections, Doan Cleare, said that SBF was getting his meds and that he was in “good spirits.” Reports had shown that Fox Hill’s reputation for being clean and orderly is quite subpar, according to a myriad of human rights reports. Reuters further detailed that SBF made a “new bail application before The Bahamas Supreme Court on Thursday,” according to another source familiar with the matter. SBF was arrested on Dec. 12, 2022, and he was charged with a number of financial fraud and conspiracy charges by the Southern District of New York (SDNY) prosecutor Damian Williams. SBF is also being sued by the Commodity Futures Trading Commission (CFTC) and he was charged by the U.S. Securities and Exchange Commission (SEC) for fraud as well. The Bahamas attorney general, Ryan Pinder, told the press after SBF was arrested that the country was cooperating with the U.S. and that SBF would likely be extradited. SBF’s parents are reportedly staying in the Bahamas, and they have allegedly tried to get their son vegan foods. The day SBF’s parents attended the first hearing a report claimed SBF’s mother allegedly laughed out loud every time her son was called a “fugitive.” If SBF is to be extradited, there’s a good chance he could go to a prison located in New York and would likely be kept in PC (protective custody). Meanwhile, no other FTX executives have been charged and the world is wondering where FTX co-founder Gary Wang is located or the ex-Alameda Research CEO Caroline Ellison. Two days ago, it was discovered that FTX co-CEO Ryan Salame reportedly snitched on SBF a couple of days before the company filed for bankruptcy protection. The unsealed indictment only names Sam Bankman-Fried and his nickname SBF, while it also mentions others known and unknown who knowingly devised a scheme to defraud people. What do you think about the report that says the FTX co-founder SBF doesn’t plan to contest extradition to the U.S.? Let us know what you think about this subject in the comments section below. View the full article