Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, has released his first comprehensive legal argument in response to fraud charges leveled against him by prosecutors. In Monday’s filings in a Manhattan federal court, SBF sought to dismiss several allegations and asserts that the law firm Sullivan & Cromwell, which represents FTX in the bankruptcy proceedings, has acted as…
To send and receive payments on the Lightning Network, users must first set up a Lightning wallet and fund it with Bitcoin. From there, they can create payment channels and start transacting. This article will guide users through the process, from setting up their Lightning wallet to making their first Lightning payment. What is the Lightning Network The Lightning Network…
Warren Buffett moving into cash suggests that he’s bracing for a possible collapse in risk-on asset prices. With Bitcoin (BTC) up 70% year-to-date and correlated with equities, should BTC investors also prepare for a potential stock market crash? Buffett says “incredible period” is over Warren Buffett’s Berkshire Hathaway dumped $13.30 billion worth of equities and increased exposure in cash and…
Coinbase legal chief has requested that the U.S. Securities and Exchange Commission (SEC) make several revisions to its proposed regulation on the responsibilities of registered investment advisers (RIAs) to store client assets with qualified custodians. Although the U.S. SEC acknowledges Coinbase Custody as a “qualified custodian,” Coinbase contends that the updated RIA custody rule unfairly targets crypto and makes improper…
Paxful, the peer-to-peer Bitcoin marketplace, is back online after a month-long hiatus. The platform was shut down in April allegedly due to a lawsuit filed by one of the co-founders, Artur Schaback, against the then-presiding CEO and another co-founder Ray Youssef in January 2023. Youssef told Decrypt that “nasty” lawyers from Schaback drove key officials from the firm, crippling the…
Liechtenstein’s prime minister has reportedly revealed that bitcoin payments will be accepted for some government services. “A payment option with bitcoin is coming,” he said, adding that he is open to investing state reserves in the cryptocurrency. Bitcoin Adoption in Liechtenstein Daniel Risch, Liechtenstein’s prime minister who also serves as the country’s finance minister, has reportedly revealed that Liechtenstein plans…
The battle between the music industry and artificial intelligence (AI) continues as reports claim Spotify is taking down AI-generated music. A report from the Financial Times revealed that the music streaming platform had removed 7% of songs created by the AI music startup Boomy, which equals “tens of thousands” of songs. Spotify is also said to be ramping up its…
Bitcoin ordinals — also known as Bitcoin NFTs — have made their way into the limelight of the Web3 space, as more marketplaces continue to adopt and offer digital assets. On May 9, the cryptocurrency exchange Binance announced that it will support Bitcoin ordinals on its NFT marketplace in late May. The development will expand Binance’s multichain NFT ecosystem to include…
The leading cryptocurrency exchange by trading volume, Binance, announced today that it will support Ordinals inscriptions on its NFT marketplace later this month, dipping its toes into the buzzy Bitcoin-based market. The update to Binance’s NFT marketplace is expected to roll out “in the coming weeks,” the company said, enabling users to purchase and trade Ordinals inscriptions via their Binance…
Binance has announced its intention of implementing Lightning Network, a layer 2 Bitcoin scaling protocol, on its platform after experiencing an episode of congestion regarding withdrawals on the Bitcoin network. The exchange had to pause bitcoin withdrawals twice due to a large backlog of operations stuck as a consequence of high transaction fees. Binance Announces It Is Working on…
