Category: crypto

Cryptocurrencies and NFTs are swarming with mountains of fraud: IRS

An IRS special agent says digital assets, including NFTs, are overrun by fraud such as money laundering, market manipulation, and tax evasion. The agency plans on cracking down on these crimes, including celebrities endorsing illegal products and services. Criminal investigators from the US Internal Revenue Service (IRS) reckon that cryptocurrencies and non-fungible tokens (NFTs) are […]

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Are crypto lending products securities? The US SEC reportedly probing 3 crypto firms for offering service

US regulator has launched an investigation into three companies as it considers whether their crypto lending products fall under securities. BlockFi and Celsius are among other companies that have received strict warnings from several state regulators for these offerings. The US Securities and Exchange Commission (SEC) is reportedly looking into the activities of three crypto […]

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‪FTX.US Exchange Reaches A Whooping $8 Billion In Valuation

The US subsidiary of FTX cryptocurrency exchange, FTX.US, has reached a valuation of $8 billion. It notched this new milestone after raising $400 million from a series A funding round according to a Reuters report. FTX Exchange reaches an $8 billion valuation after attracting major investors According to a Reuters report, FTX.US has just raised […]

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Utility Seeks $800,000 From Russians Mining Crypto With Cheap Power

Utility Seeks $800,000 From Russians Mining Crypto With Cheap Power

The main utility company in Irkutsk is looking to collect almost $800,000 from owners of crypto farms that have allegedly caused a spike in electricity consumption in the Russian region. The supplier accuses the miners of burning cheap household electricity in what is, in fact, a business activity. Power Utility Takes Crypto Miners to Court […]

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Kazakhstan Shuts Down Crypto Mining Farms Till February

Kazakhstan Shuts Down Crypto Mining Farms Till February

Data centers minting cryptocurrencies in Kazakhstan were cut off from the nation’s power grid this week and will remain unplugged for the rest of January. The measure comes as the country faces electricity shortages blamed on crypto mining and blackouts in the cold winter months. Crypto Miners in Kazakhstan Left Without Power Bitcoin mining facilities […]

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Multichain vulnerability put a billion dollars at risk, says firm that found the bug

Multichain vulnerability put a billion dollars at risk, says firm that found the bug

The Multichain bug that has led to the theft of $2 million in crypto (so far) could have been “enormous,” according to the company that disclosed the vulnerability last week. Blockchain security firm Dedaub, which disclosed the bug on January 10, has published a blog post providing more details. It said that the amount of […]

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Get ready for a colder crypto winter as Bitcoin (BTC) tanks to $20K – Analyst

Crypto analyst Joseph Edwards has it that Bitcoin will drop to $18-20K before beginning an upward momentum. Edwards says altcoins should prepare for the same fate even as he highlights some of the best ones to invest in during the dip. Since last November, over $1 trillion has been wiped out from the crypto market, […]

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Crypto Ban Proposed by Bank of Russia Met With Opposition in Parliament, Government

Crypto Ban Proposed by Bank of Russia Met With Opposition in Parliament, Government

The central bank’s push for a restrictive policy regarding cryptocurrencies is not gaining support among members of the Russian government, legislature, or law enforcement. A blanket crypto ban, as proposed by the bank, would make a laughingstock of Russia, lawmakers have warned. Bank of Russia’s Hardline Stance on Crypto Rejected by Other Russian Institutions The […]

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