The multi-billion-dollar sports industry is undergoing a digital transformation and Web3 elements are likely to play a major role. This notion was highlighted in Deloitte’s “2022 Sports Industry Outlook” report, which predicts an acceleration in the blending of real and digital worlds, along with growing markets for nonfungible tokens (NFTs) and immersive technologies. According to the report, such advances may…
On Jan. 3, 2023, the former FTX CEO Sam Bankman-Fried (SBF) pleaded not guilty to eight criminal charges that involve two counts of wire fraud and six counts of conspiracy. In addition to the not guilty plea, SBF’s judge Lewis Kaplan granted the defendant’s request to keep the names of his $250 million bond signees redacted. Sam Bankman-Fried Pleads Not…
The New York Department of Financial Services said Wednesday it had reached a $100 million settlement with Coinbase over issues regarding the company’s compliance programs. Coinbase, the largest cryptocurrency exchange based in the U.S., will be required to pay $50 million as a penalty and invest an additional $50 million to bolster its abilities to comply with financial regulations, such…
New York regulators announced on Jan. 4 that cryptocurrency exchange Coinbase will pay a $50-million fine and invest a further $50 million in its compliance program, following a settlement with the New York State Department of Financial Services. The fine was issued after regulators found the company had allowed customers to open accounts without conducting sufficient background checks, potentially violating…
Ethereum rose to a three-week high on Jan. 4, as markets prepared for the release of the latest Federal Open Market Committee (FOMC) minutes. Wednesday’s report will likely show the U.S. Federal Reserve’s view on the economy, and further detail its reasoning behind a policy pivot. Bitcoin was also higher, rising to an eight-day high. Bitcoin Bitcoin (BTC) rose to…
The UK’s National Crime Agency (NCA) is set to form a new team with a remit to proactively investigate cryptocurrency crime, dubbed the National Cyber Crime Unit (NCCU) Crypto Cell. The initial team will be made up of five officers based within its existing NCCU, the NCA confirmed to Decrypt. Per a recent job filing, the government body will look…
The fundamental aspects of Bitcoin (BTC) continue to power global financial inclusion, financial privacy and autonomy in conflict-affected nations despite difficult macro-economic and cryptocurrency market conditions over the past year. These are the key takeaways of an in-depth interview with Prince Philip of Serbia and Yugoslavia conducted by Cointelegraph Brazil’s Cassio Gusson as 2023 gets underway. Prince Philip Karađorđević shared…
Hackers have started the year with another exploit, with several million being taken from a whale holding large amounts of decentralized finance (DeFi) protocol GMX’s native token. On Jan. 3, various community members saw suspicious movements of GMX tokens. Following this, security firms CertiK and PeckShield flagged the transactions as an exploit that drained $3.4 million worth of GMX tokens…
Ioannis Giannaros, the CEO of Crypto payments company Wyre, has allegedly told his employees via email that he is liquidating the company and plans to terminate services this month, according to a report by Axios. Citing two unnamed employees as sources, alongside a recent layoff posted on LinkedIn, the report notes that Giannaros downplayed allegations of a shutdown in a…
The United Kingdom’s National Crime Agency (NCA) is taking measures to increase its focus on cryptocurrency crimes and combat criminals. NCA’s cyber-focused command, the National Cyber Crime Unit (NCCU), is launching a dedicated cryptocurrency unit to investigate U.K. cyber incidents involving the use of cryptocurrencies like Bitcoin (BTC). Called “NCCU Crypto Cell,” the crypto-focused unit will initially contain five officers…
