India’s finance minister has cautioned investors about cryptocurrency as the country’s Enforcement Directorate (ED) investigates a number of crypto exchanges and freezes the assets of some trading platforms. Indian Finance Minister Cautions About Crypto Indian Finance Minister Nirmala Sitharaman reportedly warned about cryptocurrency Saturday at an event organized by the BJP Economic Cell. She cautioned the public and entrepreneurs that…
South Korean banks are being investigated for their role in facilitating $6.5 billion in suspicious overseas remittances which have been tied to companies arbitraging cryptocurrency. According to an Aug. 15 report from Asia Times, the Financial Supervisory Service (FSS) ordered an investigation into South Korean banks last month after identifying a significant amount of overseas remittance transactions at the end…
Consumer watchdog group Truth in Advertising (TINA.org) has called out 19 celebrities for allegedly promoting non-fungible tokens (NFTs) without disclosing their connection to the projects. The not-for-profit consumer advocacy organization said on their website they investigated “celebrities who promote non-fungible tokens (NFTs) on their social media channels”, finding that “it is an area rife with deception.” Among the star-studded list…
JPMorgan CEO Jamie Dimon has shared his predictions for the U.S. economy, including a chance of “something worse” than a recession. “There are storm clouds,” the executive said, citing interest rates, QT, oil, Ukraine, war, and China. JPMorgan Chief Jamie Dimon’s Economic Forecasts JPMorgan’s chairman and chief executive officer, Jamie Dimon, reportedly shared his predictions about where the U.S. economy…
Up until now, American financial institutions that wanted to conduct both crypto transactions and traditional banking services have had to pick a lane. That may soon change. The Federal Reserve released formal guidelines this afternoon to oversee the process by which “institutions offering new types of financial products or with novel charters” could be granted so-called “master accounts,” a key…
Ether (ETH) rejected the $2,000 resistance on Aug. 14, but the solid 82.8% gain since the rising wedge formation started on July 13 certainly seems like a victory for bulls. Undoubtedly, the “ultrasound money” dream gets closer as the network expects the Merge transaction to a proof-of-stake (PoS) consensus network on Sept. 16. Ether price index in USD, 12-hour chart.…
The Electronic Frontier Foundation (EFF) has joined the chorus of crypto and privacy advocates pushing back against the U.S. Treasury Department’s decision to issue sanctions that ban American citizens from using the Tornado Cash coin mixer. The EFF, a venerated digital rights organization founded over three decades ago, tracks blockchain technology and regulatory efforts. “EFF is deeply concerned that the…
After three years of dormancy, a massive ethereum whale that participated in the project’s first token sale, also known as the Genesis initial coin offering (ICO), spent 145,000 ether worth just over $276 million using today’s ethereum exchange rates. Mega Ethereum Whale Distributes 145,000 Ether to 9 Different Addresses On August 14, 2022, onchain data indicates that a whale who…
In brief Some NFT marketplaces are not honoring the creator royalties specified in smart contracts. Rising use of such marketplaces has triggered a debate among NFT creators and collectors alike. Crypto Twitter is always buzzing, but it was especially lively this weekend as creators, collectors, and personalities went back and forth over the topic of whether or not NFT artists…
Digital asset custodian BitGo said it planned to seek more than $100 million in damages from Galaxy Digital, alleging the investment firm owed the funds as part of a “reverse break fee” in its decision to terminate an acquisition agreement. In a Monday blog post, BitGo referred to Galaxy’s actions as “improper” in claiming a breach of contract to drop…
