U.S. lawmaker Tom Emmer said President Biden’s administration was weaponizing market chaos to kill crypto. The pro-crypto lawmaker added that he sent Federal Deposit Insurance Corporation (FDIC) Chairman Gruenberg an investigative letter seeking additional information on the regulator’s actions against crypto-friendly banks. Emmer highlights anti-crypto moves by regulators In a Fox Business interview, Emmer argued…
A class-action lawsuit led by Edwin Garrison has been filed against “FTX influencers” for their alleged role in promoting a massive crypto fraud totaling over $1 billion in damages. The suit names YouTubers and so-called NFT influencers Kevin Paffrath, Graham Stephan, Andrei Jikh, Jaspreet Singh, Brian Jung, Jeremy Lefebvre, Tom Nash, Ben Armstrong, Erika Kullberg…
Maker’s governance community has initially voted in favor of increasing U.S. Treasury bond holdings to $1.25 billion, according to a Twitter thread on March 15. Preliminary vote approves Treasury bond purchases The proposal, if it is fully approved at a later date, will see Maker more than double its current $500 million of Treasury bond…
A phishing campaign falsely promising access to a new USDC DeFi trading platform emerged on social media on March 16. Fake USDC trading platform emerges The false blog post promoting the swap platform is located at http-circle-dot-blog, while the false trading platform is located at http-circledefi-dot-center. The fraudulent platform supposedly allows users to trade Circle’s…
The crypto market is largely unaffected by the European Central Bank’s latest 50 basis point rate hike, with the flagship cryptocurrency Bitcoin only seeing a minor dip following the announcement. Meanwhile, traditional stock markets saw most stocks rebound after opening losses following the rate hike. However, long-term sentiment points to future pains as markets were…
After the weekend’s depegging of the stablecoin, Circle, which issues USDC, has declared that substantially all the minting and redemption backlogs have been resolved. The company reported that they redeemed $3.8 billion USDC and minted $0.8 billion USDC since Monday, and they have also shifted their banking partner due to the Silicon Valley Bank (SVB)…
Out of the top 30 crypto exchanges, 70%, or 21, are located in offshore financial centers, according to CoinGecko’s recent report. The report defines offshore financial centers as “territories that seek to attract financial activities from abroad, through flexible regulations and low or zero-taxation schemes. ” Based on that definition, the most popular offshore financial…
The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $24,843.58 and BTC market dominance is %. The price of Ethereum is $1,661.09 and ETH market dominance is %. The best performing cryptoasset sector is AI, which gained 8%.
Cryptocurrency investment fraud in the U.S. was up almost 3x year-over-year in 2022 — making investment fraud the “costliest scheme reported,” according to the FBI’s 2022 internet crime report. Crypto fraud up 183% Crypto investment fraud hit a record $2.57 billion in 2022, compared to $907 million in 2021 — a 183% increase on an…
Tether’s USDT supply reached 74 billion for the first time since May 2022, according to CryptoSlate’s data. Over the past 30 days, Tether’s supply added roughly 5 billion as its stablecoin rivals like Binance USD (BUSD) and USD Coin (USDC) faced regulatory scrutiny and banking issues. This resulted in investors ditching these embattled stablecoins for…