Category : Bitcoin.com

Bitcoin.com

Polygon Labs Trims Staff by 19% ‘for the Sake of Enhanced Performance’

As part of its strategy to recalibrate and enhance operational performance, Polygon Labs will be reducing its workforce by 60, marking a 19% cut. This decision, shared by CEO Marc Boiron, aims at maintaining a lean and efficient team. Polygon Labs to...

SEC Charges American Bitcoin Academy Founder With Fraud That Cost Students $1.2 Million

The U.S. Securities and Exchange Commission (SEC) has charged the founder of American Bitcoin Academy, accusing him of running an online fraudulent crypto scheme that cost students $1.2 million. The defendant “falsely claimed that his investmen...

EU Regulator Proposes Stricter Rules for Foreign Crypto Firms

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator, has proposed stricter rules for crypto firms based outside the EU, limiting their ability to directly serve customers within the bloc to ensure fair com...

Singapore Police Warn About ‘Crypto Drainers’ Stealing Cryptocurrencies From Wallets

Singapore’s Police Force and Cyber Security Agency (CSA) have issued a joint warning about “crypto drainer” malware, which steals cryptocurrencies from wallets. As digital assets become more popular, “Cybercriminals are increa...

Project Mbridge Reaches Milestone: First Digital Dirham Cross-Border Settlement Goes Through

The first cross-border digital dirham payment was completed by Sheikh Mansour Bin Zayed Al Nahyan, Chairman of the Board of the Central Bank of the UAE, using the Mbridge platform, a central bank digital currency (CBDC) liquidity and interconnection...

Genesis Settles SEC Lawsuit for $21 Million Over Unregistered Securities

Facing charges from the SEC over its crypto lending practices, Genesis has agreed to a $21 million settlement. This move aims to close a chapter of legal challenges following the company’s bankruptcy filing last year amid a wider crypto market collap...

Supreme Court Ruling Bolsters Australian FTX Creditors’ Prospects for Full Recovery

The prospects of Australian creditors of the crypto exchange FTX getting all their money back recently received a boost after a judge ruled that only those who initiated Australian dollar withdrawal requests are entitled to a share of the $26 million...

Taproot Wizards Postpones ‘Quantum Cats’ Mint for the Third Time Amid Technical Setbacks

Technical difficulties have led Taproot Wizards to delay the minting of their “Quantum Cats” Bitcoin Ordinals collection for a third time. The team’s efforts to address unforeseen challenges and ensure a flawless minting...

End of the Line for OPNX, Built by Three Arrows Co-Founders Zhu and Davies

OPNX has declared it will cease all activities next month. This decision comes as co-founders Su Zhu and Kyle Davies grapple with legal repercussions stemming from their previous venture’s failure, Three Arrows Capital. OPNX to Shut Down Amid T...

Bluechip Gives Synthetix and Beanstalk Stablecoins F Grades; Tokens Added to the ‘Red Flag List’

On Feb. 1, 2024, the independent, nonprofit stablecoin assessment entity Bluechip made a noteworthy declaration. They officially bestowed an F grade upon Synthetix’s fiat tokens SUSD and SEUR, alongside Beanstalk’s dollar-pegged asset BEA...

OFAC Blocks Venezuelan Gold Business, Warns About Upcoming Oil Sanctions

The Office of Foreign Assets Control (OFAC) has revoked the license of Minerven, the Venezuela-owned gold company, for commercializing gold in international markets. The sanctions on Minerven, which were eased in October, will be applied again on Feb...

Bitcoin’s Mining Difficulty Skyrockets by 7.33%, Setting New Record for 2024

On Friday, Feb. 2, 2024, the Bitcoin network witnessed a significant milestone as its mining complexity metric surged by 7.33% at block height 828,576. This marked the most substantial increase in difficulty for the year thus far. The current level o...

1,210 ‘Sleeping Bitcoins’ From 2016 Stir After Years of Inactivity, Following Previous Day’s Mysterious Movements

On the final day of January 2024, a series of nine enigmatic transactions emerged from wallets established in 2016. Subsequently, another tranche of 15 transactions from wallets created on that same day in 2016 moved a total of 1,210.41 bitcoin, valu...

Blackrock’s IBIT Bitcoin Reserves Soar, Securing 70,005 BTC Valued at Nearly $3 Billion

According to the latest metrics, Grayscale’s Bitcoin Trust, commonly referred to as GBTC, saw a decline of approximately 9,520.27 bitcoins, valued at around $410 million, between Jan. 31 and Feb. 1, 2024. During a two-day period, Blackrock...

Bitcoin Technical Analysis: BTC’s Price Resilience Holds Steady Amidst Market Fluctuations

On Friday, the price of bitcoin fluctuated within a daily span from $41,937 to $43,347, with its market value reaching $846 billion. The trading activity for the day tallied up to $17.35 billion, showcasing a spike in investor involvement and market...

Lawyer Says FTX Has Abandoned Revival Efforts, Judge Certifies Controversial Reimbursement Plan

The collapsed cryptocurrency exchange FTX will not be proceeding with efforts to resume operations because none of the prospective suitors has pledged to invest the needed capital, the company’s attorney has said. A U.S. Bankruptcy Court judge...

Singapore High Court Denies 3AC’s Bid to Dismiss Suit by Defiance Capital Founder

The High Court of Singapore has denied Three Arrows Capital’s (3AC) attempt to dismiss a lawsuit by Defiance Capital founder Cheong Jun Yoong, affirming the legal standing of digital assets in trust disputes. Singapore Court Upholds Defia...

Monei Starts Conducting Euro Stablecoin Tests

European payment platform Monei has announced the start of the testing phase of EURM, a euro-pegged stablecoin, as part of the Bank of Spain’s national financial sandbox. The token will leverage Ethereum’s and Polygon’s blockchains,...

House Financial Services Committee Members Demand More Time to Debate New Digital Payment Proposal

Leading members of the U.S. House Financial Services Committee, Chairman Patrick McHenry, Subcommittee Chairman French Hill, and Representative Mike Flood, have requested an extension of the public comment period for the CFPB’s proposed rule on...

30 Banks Participating in Russia’s Central Bank Digital Currency Pilot

The number of banks participating in Russia’s central bank digital currency pilot has increased to 30. Seventeen banks have signed an agreement with the Bank of Russia to participate in the digital ruble program. They will join 13 other banks,...

Economist Peter Schiff Discusses Likelihood of a Fed Interest Rate Cut in March

Economist Peter Schiff says Federal Reserve Chairman Jerome Powell taking the March rate cut off the table “may have actually raised the probability that the Fed will indeed serve up the first rate cut in March.” Moreover, Schiff explaine...

UK Police Seize 61,000 Bitcoins From Huge Chinese Investment Fraud

The U.K. Metropolitan Police have reportedly seized more than 61,000 bitcoins from a massive Chinese investment fraud. A British citizen is accused of laundering bitcoin for a Chinese fugitive who allegedly stole roughly $6.4 billion from more than 1...

Valkyrie Partners With Bitgo for Custodial Services and ‘Safekeeping of the Trust’s Bitcoin Holdings’

On Feb. 1, 2024, Valkyrie Digital Assets, a cryptocurrency asset manager, revealed in a Form 8-K submission to the U.S. Securities and Exchange Commission (SEC) that it has selected Bitgo to provide custodial services for its spot bitcoin exchange-tr...

Bullish on Bitcoin: Global Survey Respondents Anticipate BTC Price Spike to $60K and Beyond in 2024

A recent international survey by Bitget has illuminated the crypto market’s hopeful perspective, drawing insights from close to 10,000 individuals across areas such as West Europe, East Europe, Southeast Asia, East Asia, MENA, and Latin Americ...

Celsius Emerges From Bankruptcy, Begins to Distribute $3 Billion to Creditors

Celsius has concluded its Chapter 11 bankruptcy process and is embarking on a new journey with the launch of Ionic Digital, Inc., a bitcoin mining company managed by Hut 8 Corp. This development follows a complex legal and financial restructuring, wh...

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