Crypto ▪︎ Bitcoin ▪︎ Trading ▪︎ News

2023-01-16 04:25:07 U.S. Trustee Disagrees With FTX’s Selected Lawyers

The U.S. Trustee has objected to FTX engaging the New York legal firm Sullivan & Cromwell on the grounds that there might be conflicts of interest arising from the firm’s prior work. FTX makes no mention of the kinds of services S&C had previously rendered to the exchange. Due to S&C’s prior associations with the defunct cryptocurrency exchange, potential conflicts of interest were raised in the filing by U.S. Trustee Andrew Vara, dated January 13. The filing expresses fear that the company would trample on future work by an independent examiner and is similar to those made by a bipartisan group of U.S. Senators and Sam Bankman-Fried, the creator of the cryptocurrency exchange. Vara pointed out that FTX’s General Counsel Ryne Miller spent eight years as an employee of S&C.

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2023-01-15 20:52:01 Wormhole Attackers Just Moved 2.9M USDC To A New Wallet Address On Ethereum

According to the latest discovery by crypto security site Mistrack, Wormhole attackers have just transferred 2.9 million USDC to a new wallet address on Ethereum. The initial gas fee was from a marked wallet address before. Using the SignatureSet (signature_set) generated in a previous transaction, an attacker can bypass Wormhole’s protection solution (called Wormhole Guardians) for the first time. These Wormhole Guardians observe and validate events and data on connected chains. In other words, Guardians manage transactions between each blockchain. Before transferring tokens to another chain, Guardians check that the tokens are generated correctly.

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2023-01-15 16:25:09 New MetaMask Product Will Include Liquid Staking Through Lido and Rocket Pool

The MetaMask Product news comes just two months before an Ethereum upgrade that will allow users to withdraw their staked ETH. Staking with Lido and Rocket Pool includes depositing one’s ether into a smart contract on the blockchain, which will pay out profits. The new Metamask product launch is just in time for Ethereum‘s pivotal Shanghai update, which will soon allow users to withdraw ether (ETH) they have staked to help secure the network, popular wallet provider MetaMask is attempting to encourage more users to stake in the first place. Staking through Lido and Rocket Pool entails depositing one’s ether into a smart contract on the blockchain, where it will earn dividends.

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2023-01-15 10:25:06 Tether Coordinates With Huobi Amid FUD About TRC20

On January 13, 2023, Tether announced to coordinate with Justin Sun’s Huobi exchange to perform a chain swap, converting from Ethereum ERC20 to TRON TRC20, amidst some FUD about TRC20 in the Chinese market. The story has begun when Wu Blockchain reported on January 12 that some OTC merchants in the Chinese market said that they no longer accept TRC20 USDT, and need users to go to the exchange to exchange for ERC20 USDT before trading. Tether team released on Twitter that Tether announced coordination with the Huobi exchange, converting from Ethereum ERC20 to TRON TRC20

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2023-01-15 04:25:05 Bitcoin First Rally In 2023 Leads To Major Gains Of Publicly-traded Crypto Stocks

On January 14, Coindesk reported that just a tiny amount of comeback level in bitcoin (BTC) this week has resulted in an outsized gain of crypto stocks, despite the fact that all publicly listed crypto equities would be down 70%-90% or even more in 2022. According to Coindesk, Coinbase (COIN), which has increased by 49% this week, is one of the major movers. To start the year, the cryptocurrency exchange has experienced a number of sell-side downgrades, price target reductions, and a credit rating downgrade from Moody’s. Additionally, the business this week disclosed a 20% reduction in staff. However, Cathie Wood’s ARK Investment.

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2023-01-14 20:31:01 Justin Sun Is Ready To Spend $1 Billion To Acquire Crisis DCG

Reuters reports that TRON founder Justin Sun intends to buy back the assets of struggling cryptocurrency company Digital Currency Group (DCG). TRON’s founder has previously wanted to buy back the assets of complex crypto companies. According to the information, Justin Sun is willing to spend up to $1 billion of his own money to buy back DCG’s salvageable assets but is “subject to an assessment of the actual situation.” But he still needs to reveal the list of properties he wants to buy back. However, Sun has confirmed the information. DCG was in dire straits when Genesis company froze customer withdrawals in November and said it was trying to avoid filing for bankruptcy.

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2023-01-14 16:25:00 The Binance Wallet Contains 90% Of WazirX User Assets

WazirX, an Indian cryptocurrency exchange, has issued its Proof-of-Reverse report, which includes the very shocking information that 90% of customer assets are kept in Binance wallets. Binance now holds nearly 19% of WazirX customer assets as SHIB, along with 9.37% ETH and 8.28% BTC. The exchange has a total cash worth of $285 million, according to CoinGabbar, a crypto asset tracking platform and WazirX PoR publisher. About 92% of total, or $259.07 million, is held in the Binance wallet, with the remaining $26.45 million held in other exchanges. This statement is significant because, in August 2022, co-founder Nischal Shetty and CEO Changpeng Zhao engaged in a public Twitter spat over who controls WazirX. In particular, WazirX was bought by Binance in 2019

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2023-01-14 10:25:01 Nigeria Now Has Its First Bitcoin Lightning Network Node Operating

According to Bitcoin blockchain discovery sites Mempool and Amboss, Megasley, who manages the country’s LLightning Network node, is currently the only active LN node operator on the map in Nigeria. A new Lightning Network node in Nigeria is motivating Africans to adopt Bitcoin. Lightning Network (LN) has been around for a while, but its adoption in rural places is still a long way off. However, the city of Nigeria, Lagos, just received its first Bitcoin Lightning Network node, a significant step toward better linking the continent to a Bitcoin-based layer 2 payment network. Megasley, who runs the country’s LLightning Network node, revealed his idea for delivering low-cost, rapid payments to Africa with the solution. He stated that his purpose is to assist Africans in receiving rapid and free money.

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2023-01-14 04:25:00 BitConnect Victims To Receive $17 Million

According to a Jan. 12 statement from the U.S. Department of Justice (DOJ), $17 million will be given to BitConnect victims as reparations. According to that assertion, a federal judge in San Diego, California, ordered that the monies be distributed to 800 people in 40 different nations. BitConnect was widely acknowledged as a Ponzi scheme in legal and public forums. The BC founder Satish Kumbhani was indicted in February 2022, while the leading U.S. promoter Glenn Arcaro entered a guilty plea in September 2021. Its associates have been accused and adjudicated guilty of a variety of charges. However, because of the project’s decentralized nature and lack of centralized leadership, several developments around it persisted even after it was formally shut down or came under regulatory scrutiny.

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2023-01-13 20:52:00 South Korea Has Ordered Strict Sanctions For 5 Serious Crimes Related To Virtual Assets

In the latest effort to establish order and ensure safety for investors, South Korea has ordered severe punishment for five significant crimes related to virtual assets. Prosecutors are also planning to intensively investigate crimes of poor quality and cause significant damage. Today, Korea’s highest prosecutor’s office held a “Meeting of Full-time Prosecutors of the National Prosecutor’s Office to Deal with Crimes That Caused Much Damage to the People” to discuss the eradication of virtual property crimes and illegal private financial crimes, according to Korean media. The prosecutor’s office plans to focus on investigating criminal cases of a vicious nature on a large scale, arresting those involved in the case, and actively confiscating crime money.

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