The Allegations Taiwanese authorities have charged 32 individuals, including crypto exchange executives, with fraud related to the ACE crypto exchange. Prosecutors are seeking 20-year sentences for the four operators of the platform. The accused include David Pan and Lin Keng-hong, founders of ACE, and Wang Chen-huan, the firm’s chairman. They are alleged to have defrauded…
Akita Goes Global The Akita Inu, a beloved breed from Japan, has gained worldwide recognition. To address concerns about pedigree forgery and lost documents, the Akita Inu Preservation Society has turned to blockchain technology. Blockchain Unleashed Partnering with Meta Akita Inc. and Heirloom Inc., the society has developed a secure system for issuing digital pedigree…
The US Department of Justice (DOJ) has responded to Tornado Cash developer Roman Storm’s request to drop the criminal charges against him. DOJ’s Arguments The DOJ claims that Tornado Cash is a money-transmitting business, despite Storm’s argument that it does not control users’ funds. According to the DOJ, money transmitters in crypto include platforms that…
The US national debt has surged by $273.859 billion in just two months, reaching a record high of $34.571 trillion. Concerns from a Billionaire Billionaire investor Leon Cooperman has warned that the country is inching closer to a financial crisis. He believes the government missed an opportunity to address the issue when it ignored recommendations…
A Bitcoin whale has been on a buying spree, amassing over $282 million worth of BTC since late March. Massive Purchase Blockchain tracking firm Lookonchain discovered an address starting with “12QVsfA” that purchased 4,380 BTC ($282.38 million) at an average price of $64,471. The whale then added another 620 BTC ($39.8 million) at a lower…
Gold’s Performance Crypto analyst Benjamin Cowen suggests that gold’s recent surge may indicate a peak in Bitcoin’s recent rally. He notes that in 2019, a breakout in gold coincided with a local top for Bitcoin. Similarly, this year’s gold breakout occurred around the same time Bitcoin reached a local high in March. Ethereum’s Decline Cowen…
Greg Solano, co-founder of Yuga Labs, the company behind the popular Bored Ape Yacht Club NFTs, has announced layoffs as part of a plan to restructure and refocus the team. Restructuring for a Cryptonative Team Solano stated that Yuga Labs had “lost its way” and needed to become a “smaller, more agile and cryptonative team”…
Phoenix Wallet, a popular Bitcoin wallet for Lightning Network payments, will no longer be available in the United States. Regulatory Discrimination The wallet’s parent company, ACINQ, has criticized the US government’s regulation of self-custodial wallets, which allow users to control their own funds without the involvement of a third party. The US authorities have recently…
Exponential Dampener Analyst Peter Brandt believes Bitcoin’s current bull run may be nearing its end. He points to the concept of “exponential decay,” where each bull cycle shows a smaller increase in price. This suggests that the current cycle may peak at around $72,723, which Bitcoin has already reached. Potential Price Retracements If Brandt’s analysis…
Whale Watch Whale transactions are big news in the crypto world, and Justin Sun, founder of TRON, is no exception. Recently, he’s been making some significant moves. New Wallet, New Purchases Lookonchain, an on-chain analytics platform, has noticed a new wallet receiving 7,402 ETH ($23.3 million) and 95.67 million USDT from Binance. The identity of…
