The “Virtual Currency Tracking System” will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance. The Ministry of Justice in South Korea announced plans to introduce a crypto-tracking system to counter money laundering initiatives and recover funds linked to criminal activities. The “Virtual Currency Tracking System” will be…
Market analyst Cole Garner suggests that Bitcoin bulls are in for a treat amid an ongoing BTC price renaissance. Bitcoin BTC $23,030 remains firmly “bullish” at $23,000, according to new on-chain metrics from one of the industry’s best-known names. In a preview on Jan. 28, market cyclist and on-chain analyst Cole Garner revealed what he said were “backtested and validated” Bitcoin trading tools….
The U.S. will pay over $1 trillion in debt interest next year, the equivalent of three or more Bitcoin market caps at current prices. Commentators believe that Bitcoin BTC $23,010 bulls do not need to wait long for the United States to start printing money again. The latest analysis of U.S. macroeconomic data has led one market strategist to predict quantitative…
The IRS recommendation to check “Yes” boils down to receiving, earning, transferring or selling cryptocurrencies for any monetary benefit, including mining and staking. With the deadline approaching for filing the 2022 federal income tax return, the Internal Revenue Service (IRS) — an enforcement agency of United States federal tax laws — released a list of reporting requirements for the general…
While most of SBF assets have been seized, Federal prosecutor Damian Williams outlined that the government is also looking to take control of three of his affiliated Binance accounts. According to new court filings, disgraced FTX founder Sam Bankman-Fried (SBF) will be subject to the forfeiture of roughly $700 million worth of assets if he were to be found guilty…
Crypto lender Genesis Global has become the latest firm to throw in the towel following the collapse of FTX, filing for Chapter 11 bankruptcy protection in New York. Cryptocurrency lender Genesis has filed for Chapter 11 bankruptcy in the Southern District of New York. The firm has estimated liabilities of $1 billion to $10 billion and assets in the same…
Sam Bankman-Fried ordered Gary Wang, FTX co-founder, to open the alleged credit line financed by the exchange’s customers. Former FTX CEO Sam Bankman-Fried (SBF) reportedly ordered Gary Wang, co-founder of the crypto exchange, to open a $65 billion “secret backdoor line of credit” for Alameda Research, according to FTX attorney Andrew Dietderich. The attorney disclosed the information during a Delaware…
Polygon told Cointelegraph that the hard fork will take effect at block 38,189,056, which will be initiated without the influence of centralized actors. Ethereum layer-2 scaling solution Polygon will undergo a hard fork on Jan. 17 in order to address gas spikes and chain reorganizations issues that has affected user experience on the Polygon proof-of-stake (POS) chain. Polygon officially confirmed the hard…
FTX : Harrison said Bankman-Fried threatened to fire him on the spot and would destroy his professional reputation if he continued to confront the former FTX CEO. Former FTX US President Brett Harrison has lashed out at Sam Bankman-Fried for manipulating and threatening colleagues who proposed solutions to reorganize FTX US’ management structure. Harrison shared his experiences with Bankman-Fried and FTX US…
The FTX assets that will be sold include the derivatives platform LedgerX, the stock-clearing platform Embed, and its regional arms FTX Japan and FTX Europe. The judge in charge of overseeing the FTX bankruptcy proceedings has given the embattled crypto exchange the approval to sell some of its assets to aid its efforts in repaying its creditors. According to a…