CryptoPunk #8348 Loaned for $2.75M in Historic NFT Deal
CryptoPunk #8348, a rare one-of-a-kind CryptoPunk known for being the only one with seven traits, has been loaned for $2.75 million in a groundbreaking financing deal facilitated by NFT lending platform GONDI. The loan agreement, with a six-month maturity and a 20% interest rate, requires repayment from borrower and prominent NFT collector Seedphrase. If Seedphrase […]
Cocaine Traffickers Allegedly Use USDT for Money Laundering
A recent report alleges that criminal organizations linked to U.S. cocaine imports from Mexico and Colombia are increasingly turning to Tether (USDT) for large-scale money laundering operations. These operations are said to involve major drug cartels, including Mexico’s infamous Sinaloa cartel. USDT: The New Tool for Drug Cartels Drug traffickers are reportedly leveraging USDT, a […]
UK Crypto Ownership Climbs to 12%, FCA Research Finds
Crypto adoption in the UK has surged, with 12% of UK adults now owning digital assets, up from 10% in 2022, according to new research by the Financial Conduct Authority (FCA). Key Findings The FCA’s study, based on a nationally representative survey of 2,199 UK adults, estimates that 7 million people now own crypto in […]
Binance Unveils BFUSD: Reward-Bearing Margin Asset
Binance officially unveiled BFUSD on Tuesday, a unique “reward-bearing margin asset” designed for futures trading and passive rewards. The product is set to launch on Wednesday, November 27, at 02:00 UTC, Asia time. What Is BFUSD? BFUSD enables users to earn passive rewards while serving as margin for Binance’s USDⓈ-Margined Futures. These contracts use stablecoins […]
Hong Kong’s ZA Bank Launches Retail Crypto Trading
Hong Kong’s ZA Bank has become the first bank in Asia to offer direct cryptocurrency trading to retail users, enabling seamless trading of top cryptocurrencies in HKD and USD. ZA Bank announced the launch today, marking a significant step in integrating traditional banking services with digital asset trading. A Seamless Trading Experience Through the ZA […]
XRP Surges 20% as SEC Chair Gary Gensler Prepares to Exit
The price of XRP, Ripple Labs‘ prominent cryptocurrency, soared 20% Thursday following news that SEC Chair Gary Gensler will step down when President-elect Donald Trump takes office in January. The cryptocurrency hit a high of $1.53 today, marking its highest price since May 2021. XRP has nearly tripled in value since Election Day, making it […]
DOJ Charges Five Men in Cryptocurrency Phishing Scheme
The alleged conspirators, aged 20 to 25, face charges including conspiracy to commit wire fraud, conspiracy, and aggravated identity theft. According to the DOJ, the group used phishing text messages to obtain employee credentials, which were then exploited as entry points to access and steal funds from cryptocurrency accounts. Link to Scattered Spider The five […]
SEC Chair Gary Gensler Announces Resignation
Gensler, who has been at the forefront of the SEC’s aggressive regulation of the cryptocurrency industry, said in his statement that leading the commission has been “an honor of a lifetime.” His tenure has been marked by high-profile lawsuits and enforcement actions targeting major players in the digital assets space. Gensler’s Legacy Appointed in 2021, […]
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