Shareholders accused Tesla boss Elon Musk of “brazen disloyalty” with his xAI startup that created “billions in AI-related value at a company other than Tesla.” Source: https://cointelegraph.com/news/tesla-investors-sue-board-elon-musk-over-xai-startup
Month: June 2024
Binance CEO Sees 2024 as a ‘Landmark Year’ for Crypto
Binance CEO Richard Teng described 2024 as a “landmark year” for the cryptocurrency industry in an interview with Bloomberg on Thursday. He cited enhanced regulatory clarity, broader mainstream acceptance, and the introduction of bitcoin spot exchange-traded funds (ETFs). “The momentum continues to be very strong, which is a very encouraging sign for us … Other […] Source: https://news.bitcoin.com/binance-ceo-sees-2024-as-a-landmark-year-for-crypto/
Holograph fell 80% in 9 hours after exploiter mints 1B additional HLG
The 1 billion HLG tokens were worth $14.4 million at the time of the first mint, Etherscan data shows. Source: https://cointelegraph.com/news/holograph-hacked-for-1-billion-hlg-tokens-worth-14-million
Landmark Ruling: Crypto Dealings Not Illegal in India, Says High Court
The Orissa High Court in India ruled that cryptocurrency dealings are not illegal under Indian law. This decision arose from a case involving individuals accused of fraud through a Ponzi scheme. Justice Sasikanta Mishra clarified that cryptocurrency is not considered money under the Prize Chits and Money Circulation Schemes (Banning) Act or a deposit under […] Source: https://news.bitcoin.com/landmark-ruling-crypto-dealings-not-illegal-in-india-says-high-court/
Ether notches 2nd biggest hodler buying day in history
Demand for Ether from long-term holders rocketed on June 12 as the price fell below $3,500, just before the SEC’s Gary Gensler gave a forecast for spot Ether ETF approval. Source: https://cointelegraph.com/news/ethereum-long-term-holders-accumulate-eth-near-record-levels
Attorney Disbarred After Misappropriating $4 Million in Bitcoin Funds
The Supreme Court of Georgia, the highest judicial authority of the U.S. state of Georgia, has disbarred attorney Diana McDonald on June 11 for misappropriating $4 million from a bitcoin escrow transaction. In 2019, McDonald acted as a fiduciary for a client involved in a Bitcoin deal that failed to deliver the promised cryptocurrency. Despite […] Source: https://news.bitcoin.com/attorney-disbarred-after-misappropriating-4-million-in-bitcoin-funds/
Tesla is Tops In ‘Real-World AI’, Elon Musk Declares
Tesla CEO Elon Musk bragged about his company’s internal advancements in AI, including hardware and chip design, saying he’d choose the company’s in-house work over any alternative. “There’s actually is not a chip from Nvidia—or from any company—that we would prefer to put in our car that is better than what we have in the car,” he said. “We started…
US Lawmaker Proposes Stricter Digital Asset Regulations to Enforce Russian Sanctions
U.S. Congressman Brad Sherman has proposed an amendment designed to enhance the enforcement of sanctions on Russian digital assets. The amendment allows the Treasury Secretary to prohibit crypto transactions linked to Russian entities and requires U.S. taxpayers to report crypto transactions offshore exceeding $10,000 to the Financial Crimes Enforcement Network (FinCEN). New Amendment Seeks to […] Source: https://news.bitcoin.com/us-lawmaker-proposes-stricter-digital-asset-regulations-to-enforce-russian-sanctions/
Swiss regulator forces crypto-friendly FlowBank into bankruptcy
The Swiss-based bank had ties to the TrueUSD stablecoin issuer, Techteryx, crypto asset manager CoinShares and reportedly Binance. Source: https://cointelegraph.com/news/swiss-crypto-flowbank-forced-bankruptcy-after-banking-failures
Deepfake AI ‘gang’ drains $11M OKX account, Zipmex zapped by SEC: Asia Express
OKX blames “coin-stealing hacking gang” for deepfake AI theft of $11M, Zipmex unlicensed, Microvisionchain’s millions in grants: Asia Express Source: https://cointelegraph.com/magazine/okx-11m-deepfake-ai-zipmex-sec-microvisionchain-grants-asia-express/