Former FTX executive Ryan Salame has withdrawn a previous court filing accusing the US government of walking back its promise not to prosecute his partner, but a judge has scheduled a hearing on the matter anyway. Salame is the former co-CEO of FTX Digital Markets, the Bahamian subsidiary of the bankrupt crypto exchange. Last year, …
Monthly archives: August 2024
US Judge Dimisses Class Action Dogecoin (DOGE) Lawsuit Against Elon Musk and Tesla
A US judge tossed the class action lawsuit accusing Elon Musk and his company Tesla of manipulating the Dogecoin (DOGE) market. A group of disgruntled DOGE investors sued Musk in 2022, accusing the business magnate of orchestrating a pump-and-dump via a series of public comments about the popular memecoin. Musk’s lawyers have filed multiple motions …
Anthropic CEO says future of AI is a hive-mind with a corporate structure
Even artificial workers can’t escape the bureaucracy.
Despite Being Down Overall, Majority of US Crypto Owners Support Donald Trump: New National Poll
The majority of crypto owners in the US support Donald Trump over Kamala Harris despite the former president being behind in a new national poll. According to a recent poll conducted by Fairleigh Dickinson University (FDU), US crypto owners are embracing Trump as their candidate for the upcoming presidential election as he holds a double-digit …
JPMorgan Chase, Bank of America and Wells Fargo Allegedly Reap Billions of Dollars on Backs of Misled Customers As Lawsuits Hit Multiple Financial Giants
A growing number of US banks are accused of routinely misleading customers in a push to pocket billions of dollars. JPMorgan Chase is now facing a proposed class action lawsuit for allegedly shifting customers’ idle cash into accounts with extremely low interest rates without proper disclosure. The bank joins Wells Fargo, Bank of America and …
Altcoins Could Do Well if Republicans Win, Bitcoin the Safe Bet if Democrats Retake White House: Alex Krüger
A widely followed economist believes that the outcome of this November’s US presidential election could have significant ramifications for the crypto market. In a new interview on the Unchained Podcast YouTube channel, economist Alex Krüger says that altcoins will likely fare better if former US president and Republican nominee Donald Trump prevails. However, if the …
Physics for fintech: How quantum AI can make humans better crypto traders
Scientists are using quantum algorithms to uncover new insights into how our brains learn and apply information.
X goes dark in Brazil as tensions between Musk and Judge escalate
Alexandre de Moraes, a Supreme Court judge, ordered the “immediate and complete suspension” of social media platform X in Brazil, the BBC reported on Aug 31. The judge directed the country’s telecom agency to block access to X, causing the platform to go dark earlier today, according to the New York Times. The ban was …
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Trump’s World Liberty Financial Launches ‘Epic’ Meme Contest as Telegram Channel Hits 100K Members
The Trump family’s decentralized finance (defi) venture, World Liberty Financial, which has been shrouded in secrecy for quite a while, has now revealed another development—the launch of an “epic meme contest.” The news broke on the social media platform X, where the World Liberty Financial account shared, “To celebrate President Trump’s tweet about us yesterday, …
Ethereum’s Gas Fees Remain Low While Network Turns Inflationary
According to recent metrics, Ethereum’s onchain fees continue to stay impressively low, with the average transaction cost this weekend at just 0.00029 ETH or $0.743. Etherscan reports that even high-priority fees are under 1 gwei, sitting around 0.972 gwei as of press time. Additionally, ultrasound.money data reveals that Ethereum’s issuance rate is currently inflationary, clocking …
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Bored Ape Yacht Club Leads the Week’s Priciest NFT Sale Despite Overall Market Dip
While non-fungible token (NFT) sales saw a 24% boost the week before, the last seven days have witnessed a 4.3% dip. Meanwhile, the number of NFT buyers jumped by 31.48%, with sellers also on the rise by 25.86%. NFT Sales Drop 4.3%, But Buyer and Seller Participation Increased This past week, NFT sales were rather …
Friday Market Recap: Ether ETFs See Zero Gains as Bitcoin ETFs Bleed $175 Million
Spot bitcoin exchange-traded funds (ETFs) faced another round of outflows as five funds pulled out $175.67 million. At the same time, despite a trading volume of $173.66 million, ether ETFs saw no net gains or losses on Friday. Bitcoin ETFs Lose $175 Million; Ether ETFs Show No Change Bitcoin ETFs experienced another setback on Friday, …
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Top TON Coins Face Turbulent Week Amid Durov Arrest and Network Disruptions
Over the past week, The Open Network (TON) ecosystem has encountered a series of setbacks due to a wave of unfavorable news. The turbulence began with the arrest of Telegram founder Pavel Durov, followed by two significant outages on the blockchain network that brought block production to a standstill. Altogether, in just 68 days, the …
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Washington Man Faces Charges in $64 Million Crypto Laundering Scheme
A Washington resident has been charged with involvement in a $64 million cryptocurrency laundering scheme. He allegedly deceived investors, posing as an escrow agent, and transferred funds into his accounts. The funds were moved offshore or converted to cryptocurrencies such as bitcoin and ethereum via exchanges like Gemini, Bitstamp, Coinbase, and Binance. Investigators traced the …
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$9,580,000,000 Pours Into US Bond Funds As Global Markets Anticipate Imminent Federal Reserve Rate Cuts: Report
Investors are pouring capital into US and global bond funds in anticipation of rate cuts from the Federal Reserve. In the week ending August 28th, a total of $17.69 billion in global bond funds was purchased, with $9.58 billion allocated to US bond funds, reports Reuters, citing LSEG data. The numbers represent a six week …