Bitcoin News and Altcoins News
Key Insights: OpenAI will utilize Oracle Cloud Infrastructure to expand its AI operations. Oracle’s Gen2 AI infrastructure is now a key player in supporting large AI innovations. OCI Supercluster scales up to 64k GPUs, enhancing AI model training and application. OpenAI has announced a partnership with Microsoft and Oracle, integrating Microsoft Azure’s AI platform with … Read more
Key Insights: Ryan Salame, ex-FTX co-CEO, sentenced to 90 months in prison for financial crimes. Salame ordered to pay over $11 million in forfeiture and restitution combined. Charges included unlicensed money transmission and illegal political contributions. Ryan Salame, previously a top executive at the defunct cryptocurrency exchange FTX, received a 7.5-year prison sentence for his … Read more
Key Insights: The new Turkish regulation requires crypto exchanges to obtain licenses from the Capital Markets Board to ensure secure trading. Unauthorized crypto service providers face severe penalties, including imprisonment for up to five years. The regulation specifies that crypto asset providers must secure their systems according to TÜBİTAK standards. This week, the Turkish Parliament … Read more
Key Insights: Jian Wen, once a fast-food worker, was sentenced for laundering Bitcoin worth millions as part of a larger $5.6 billion fraud. The court highlighted Wen’s rapid lifestyle shift from a Chinese takeaway basement to a luxurious suburban mansion. Wen’s trial unveiled a network of intermediaries across London and Dubai who facilitated the laundering … Read more
Key Insights: Grayscale’s amended filing removes staking from its Ethereum ETF plan, aligning with industry trends. The SEC’s proactive feedback prompts issuers like Grayscale and Fidelity to exclude staking from their ETF proposals. Grayscale and other issuers adjust their Ethereum ETF applications in response to evolving regulatory guidance. Grayscale Investments has revised its Ethereum ETF … Read more
Key Insights: Finiko Executive Liliya Nurieva was sentenced to three years for her involvement in the Finiko crypto scam. Finiko defrauded investors out of approximately $1.1 billion using a Ponzi scheme. Nurieva is the first Finiko executive to be sentenced, marking a significant legal development. A Russian court recently sentenced Liliya Nurieva, a former executive … Read more
Key Insights: Genesis Global will return $3 billion in cryptocurrency and cash to customers following court approval. In the repayment plan, creditors, including federal and state regulators, will have priority over Genesis’ parent company, DCG. Genesis estimates creditors could recover up to 77% of their claims, with repayments primarily in Bitcoin and other cryptocurrencies. Genesis … Read more
Key Insights: Ilya Sutskever, OpenAI’s co-founder, has left to pursue a new project that holds personal significance. Jakub Pachocki takes over as OpenAI’s Chief Scientist following Sutskever’s recent departure. Sutskever’s exit comes after his role in the controversial ouster of CEO Sam Altman in 2023. OpenAI has announced the departure of its influential co-founder and … Read more
Key Insights: Rain Crypto Exchange confirms no customer losses following a $14.8 million theft, ensuring continued secure services and full fund safety. Enhanced security measures implemented swiftly by Rain post-breach to protect against future threats, maintaining trust and compliance standards. Rain collaborates with global law enforcement to track stolen funds and culprits after the security … Read more
Key Insights Canadian regulators fined Binance $4.3 million for not registering as a foreign money services business and neglecting transaction reporting. FINTRAC discovered that Binance failed to report 5,902 cryptocurrency transactions exceeding $10,000 from June 2021 to July 2023 using blockchain tools. The fine aligns with Canada’s ongoing efforts to regulate crypto exchanges amid similar … Read more
Key Insights LocalMonero, a platform allowing users to trade Monero anonymously, will soon shut down, impacting privacy-focused cryptocurrency trading. The exchange, known for not requiring ID verification, will disable new trades and remove its website by November 2024. Despite its closure, the LocalMonero team remains optimistic about Monero’s future, citing ongoing developments and new decentralized … Read more
Key Insights: Tether Holdings Limited achieved a historic $4.52 billion net profit in Q1 2024, marking a significant increase from the previous quarter. Over $12.5 billion in USDT was issued in the first quarter, emphasizing Tether’s strong position in the stablecoin market. BDO’s attestation confirms that 90% of Tether-issued tokens are supported by cash equivalents, … Read more
Key Insights: Renzo’s REZ token has captured a $289 million market cap immediately following its community-focused airdrop event. Trading volumes for REZ soared to $75 million within an hour of release, signaling strong investor interest and market activity. Liquid restaking protocol Renzo has launched its native REZ token, which quickly reached a $289 million market … Read more
Key Insights: Terraform Labs proposes a $1 million penalty, countering the SEC’s initial $5.3 billion fine demand. Terraform argues that the funds in question are held by Luna Foundation Guard and are not subject to SEC claims. Ripple also counters SEC with a significantly lower fine suggestion, proposing $10 million against $2 billion. In a … Read more