Cryptocurrency News Today TheBitTimes.com

Alleged multi-billion-dollar fraudster Sam Bankman-Fried is reportedly preparing to offer a group of friends and former colleagues up to $1,200 an hour to testify on his behalf at his October trial. As reported by Bloomberg Law, according to a letter filed in New York earlier this week, the group of up to seven ‘expert witnesses’ will be asked to shed light on campaign finance laws, FTX and its software, and hedge fund affiliate Alameda Research. Among the witnesses are former Federal Election Commission chairperson Bradley Smith who’ll speak about US campaign finance laws and straw donors, and consultant Peter Vinella who’ll claim that many of the allegations levelled at  Bankman-Fried are, in fact, “widely-accepted practices in the financial services industry.” Professor Andrew Di Wu, another potential expert, would testify on blockchain technology and the 2022 Crypto market collapse . However, prosecutors could yet block these witnesses from taking the stand. While the U...

Binance Pool, the Bitcoin (BTC) mining pool, is launching an Ordinals inscription service for users to annotate satoshis, store ownership records, and more. To access this service , users must have a verified account and a Taproot address, the most recent Bitcoin address format activated in 2021. You might also like: Binance to halt BUSD support due to legal issues Even with Bitcoin’s recent price decline and waning enthusiasm for non-fungible tokens (NFTs), Ordinals inscription s remain popular on the Bitcoin network. In an Aug. 21 report, the Ordinals Protocol disclosed that out of the 530,788 transactions on Bitcoin, 84.9% were inscription s. Therefore, as a customized feature, the decision for the Binance Pool to refocus on Ordinals appears logical. Binance remains in the public spotlight due to regulatory uncertainties. The exchange is tussling with the United States Securities and Exchange Commission (SEC) and considering an exit from the Russian market due ...

Singularity partners with Vechain to drive AI-blockchain innovation. Singularity always believed that the true potential of beneficial AGI can more easily be achieved when brought together with the robustness and immutability of decentralized blockchain technology. The areas of sustainability and product authentication are where Vechain excels, and in that, their blockchain platform has been crucial in preventing fraud and counterfeiting. Singularity sees an opportunity to develop a seamless fusion that could fundamentally alter how companies conduct themselves in the evolving digital economy by fusing its AI capabilities with Vechain’s enormous enterprise data repository. This collaboration between SingularityNET and Vechain heralds a new chapter in AI and blockchain integration. How SingularityNET and Vechain will collaborate to transform the future of smart technology. Data Integration: Integrate Vechain’s enterprise data into SingularityNET’s AI marketplace to enhance AI models wi...

Join Our Telegram channel to stay up to date on breaking news coverage Altcoin season looks set to take off, and new meme coin Sonik Coin in a show of strength, has raised more than $750,000 from hungry investors. News that Grayscale has won its bitcoin ETF case against the US Securities and Exchange Commission has lit a fire under altcoin prices. Meme coins continue to be one of the most traded coin sectors in the crypto complex, and Sonik is set to be the latest hot addition.  Sonik Coin plans to join the likes of Dogecoin and Shiba Inu as meme coin favorites.  The $SONIK meme coin is inspired by a gaming character originating in Japan and is built around the sort of degen humor typical of the meme coin space. Its wacky graphics and art, as showcased on its website, are sure to have viral appeal. $SONIK has raised $756,445, and the run rate is accelerating with only six days left before the presale sell-out. $SONIK Meme Coin Offers a Unique Feature Unseen in Ot...

After a shaky launch, Shiba Inu’s layer-two protocol, Shibarium, has initiated a resurgence. The number of addresses on Shibarium surged from 100,000 to over 300,000 in 24 hours. Average block time on Shibarium is 5.1 seconds, according to the network’s explorer. After a shaky launch, Shiba Inu’s layer-two protocol, Shibarium, has initiated a resurgence. Following the glitch encountered after launching the beta version, Shibarium developers announced steps taken to resolve the issue. Nearly two weeks later, Shiba Inu’s Lead Developer, Shytoshi Kusama, informed the project’s community that the network was back. https://t.co/6hpCh5QU2h — Shytoshi Kusama (@ShytoshiKusama) August 28, 2023 Shibarium has displayed impressive behavior since the network returned to life. Specifically, the layer-two network has shown a significant resurgence in the past 24 hours. According to data from the network’s explorer, the number of addresses on Shibarium surged from...

Shiba Inu (SHIB) is resilient after implementing the Shibarium fix, bolstering the team’s resolve. Meanwhile, InQubeta (QUBE) is drawing more attention than Shiba Inu.  As these project s compete, InQubeta’s Features could propel it as one of the best crypto investment platforms for investors to explore.  This artificial intelligence (AI) portal can bridge AI startups and investors. As it finds adoption, more people are actively examining QUBE, its native token, in the ongoing presale. Let’s discuss how InQubeta is a stiff competitor for Shiba Inu. InQubeta unveils the potential of QUBE  InQubeta challenges Shiba Inu’s prominence as one of the best crypto investment options for portfolio diversification. A new crowdfunding model is being introduced that pioneers fractional investment in AI startups of which QUBE plays a critical role.  This approach involves transforming each asset into a non-fungible token (NFT) and breaking them into smaller p...

Coinbase shares soar 15% as U.S. federal court ruling favors Grayscale’s Bitcoin ETF, signaling a transformative moment for the crypto industry. Coinbase Global Inc. shares saw a massive spike following Grayscale’s victory over the SEC, paving the way for the inaugural Bitcoin exchange-traded fund (ETF) in the United States. This is due to the fact that Coinbase is a custodial partner in several pending Bitcoin ETF applications. The exchange’s stocks rallied by over 15% since the Federal court’s ruling, while Bitcoin mining companies like Marathon Digital and Riot Platforms also recorded substantial gains, 24% and 15%, respectively. THIS JUST IN: The D.C. Circuit ruled 3-0 in favor of Grayscale and $GBTC. This is a monumental step forward for all who have been advocating for Bitcoin exposure through the added protections of the ETF wrapper. Read the decision: https://t.co/ulAtcsad2G pic.twitter.com/BNZABvM7tw — Grayscale (@Grayscale) August 29, 2023 You might al...

Just an hour after the voting commenced, the Venus community voted to deploy the protocol from BNB Chain to Polygon zkEVM. The voting ended 23 hours before the decided deadline, with no community member voting against the proposal. advertisement Why Is Venus Protocol Deploying On Polygon zkEVM? At its core, the Venus team aims to leverage the transparent user experience and Polygon zkEVM’s zk-rollup technology’s capability of offering Ethereum Virtual Machine (EVM) equivalence, as it is essentially an Ethereum L2 Scalability solution. The seamless integration provided by Polygon zkEVM with the existing Ethereum ecosystem promises to offer users a smooth transition while retaining the compatibility of tools and smart contracts. Venus Protocol’s strategic alignment with Polygon aims at leveraging Polygon zkEVM, which has the potential to amplify DeFi’s scalability as it utlizes cryptographic zero-knowledge transfer technology that offers fast...

South Korea has set a new reserve requirement for crypto exchanges, mandating them to have at least $2.3 million in reserves. Cryptocurrency exchanges in South Korea with bank-issued real-name accounts will have to reserve 30% of their daily average deposits or a minimum of 3 billion won ($2.26 million) starting from September 2023, according to a report by local news outlet News 1. The directive comes from the “Virtual Asset Real-Name Account Operation Guidelines” published by the Korea Federation of Banks in July. Meanwhile, the reserve requirement is capped at 20 billion ($15 million). The requirement aims to ensure that crypto exchanges can compensate users if a hack or system failure happens. You might also like: South Korea enacts comprehensive laws to protect crypto users The reserve standard will take effect in September. Other rules, such as robust know your customer (KYC) and authentication for collection transfers, will be implemented in Jan...

Stocks of Evergrande Group declined by almost 90% on Monday. Tensions mount as the crypto community fears the selloff will impact the crypto market. The crypto market is in the positive region, with major cryptocurrencies recording gains in the last 24 hours. Stocks of China-based Evergrande Group collapsed shortly after it resumed trading on Monday as investors hurried to dump the stomp following a 17-month suspension, a report reveals. The company’s troubles, which began in 2021, heightened this year after it filed for bankruptcy. As soon as trading started, the shares plunged 87% within the first few minutes. The selloff adds to the troubles of the company, which is battling mounting liabilities, losses, and increased regulatory scrutiny. Even though the company has set plans for restructuring in motion, the prolonged real estate crisis in China has exacerbated the company’s woes. As the drama unfolds, the crypto community sits on the edge, monito...

The SEC has charged Impact Theory for an unregistered NFT offering , marking its first enforcement action in the NFT sector. The Securities and Exchange Commission (SEC) charged Impact Theory, LLC on Aug. 28, a Los Angeles-based media and entertainment company, for conducting an unregistered offering of crypto asset securities in the form of non-fungible tokens (NFTs). This enforcement action represents a milestone as the first of its kind involving an NFT initiative by the SEC. Impact Theory, co-founded by YouTube and podcast host Tom Bilyeu, raised approximately $30 million from hundreds of investors across the United States through this offering. Today we charged Impact Theory LLC, a media and entertainment company headquartered in Los Angeles, with conducting an unregistered offering of crypto asset securities in the form of purported NFTs. Impact Theory raised approximately $30 million from hundreds of investors. — U.S. Securities and Exchange Commission (@SECGov) Au...

Vessel Capital, a venture capital firm, has announced the creation of its $55 million crypto fund.  The firm will use its new fund to invest in different crypto projects and web3 infrastructure, according to TechCrunch. The main aim of the fund is to help crypto projects grow and to support crypto founders at an early stage. Vessel Capital was founded by Mirza Uddin, Eric Chen, and Anthony Anzalone. The firm has been investing nearly $10 million annually. You might also like: Growth-focused investors considering VC Spectra over Lido DAO and Aptos The company will allocate the investments over five years. Uddin will be looking to work with founders from the beginning on the ideas behind the projects. The founder explained that it’s essential to create a strong relationship with the founders in the early stages, and a VC that has crypto -related knowledge will help them be on their way to success. Uddin added that those VCs who don’t understand how the ...

Certik Alert today reported a flashloan exploit involving SVT tokens that resulted in a $400k loss.  The attacker has deposited 1000 BNB, worth $217k into Tornado Cash.  According to Certik, there has been over 12 exploits recorded since last week. Blockchain security firm Certik Alert earlier today reported a flashloan exploit on SVT tokens that resulted in a $400,000 loss. According to the report, the attacker took advantage of a vulnerable contract for SVT trading. The unsuspecting user fell victim to the attack, and lost their funds as a result. Certik Alert said the exploit was made because of the trading’s flawed economic model. It stated that the attacker used a pattern of repeated buy and sell operations to gain the $400k.  At the present time, the attacker has deposited 1000 BNB, worth $217,000 into decentralized cryptocurrency tumbler Tornado Cash. The platform is a popular stop for attackers hoping to wash their exploit proceeds t...

Join Our Telegram channel to stay up to date on breaking news coverage Global payment leader Mastercard Inc. and cryptocurrency exchange giant Binance have terminated their crypto debit card partnership in Latin American countries. According to a Bloomberg report on August 24, the partnership will end on September 22, affecting countries including Argentina, Brazil, Colombia, and Bahrain.  Although the report didn’t directly state the reason behind the change, it hinted at the possibility that increased regulatory scrutiny faced by the struggling crypto exchange might have played a role in this decision. In a recent X (former Twitter)  announcement responding to user concerns, Binance revealed that its crypto-funded debit card, the Binance Card, will be dis continued . The card, which functions much like a conventional debit card by utilizing crypto assets for transactions, will be halted with a marginal impact on its user base in Latin America and the Middle...

Subway on Thursday agreed to a $9.6 billion sale to the private equity firm that owns Dunkin’ Brands, the company announced. Roark Capital today finalized the purchase of the sandwich chain. Dunkin' Donuts parent company acquires Subway for $9.6 billion. pic.twitter.com/7FNz1PdzoE — Watcher.Guru (@WatcherGuru) August 24, 2023 “The transaction is a major milestone in Subway ’s multi-year transformation journey, combining Subway ’s global presence and brand strength with Roark’s deep expertise in restaurant and franchise business models,” Subway said in a statement. The sale ends an over fifty-year ownership by the companies’ two founding families. Subway was founded in 1965 by 17-year-old Fred DeLuca and family friend Peter Buck — opening their first shop, Pete’s Super Submarines, in Bridgeport, CT. Roark Capital, an Atlanta-based private equity firm, has $37 billion in assets under management. It is als...

Bitcoin mining has come a long way in its 14-year history. What began as a simple task powered by desktop computers has now turned into an industry with many high-tech machines. Along with the popularity of mining BTC, the cost of electricity has also increased over time. This has made the activity all the more expensive to carry out. Also Read: Bitcoin Mining Difficulty Rises 6.17% to Claim New ATH Mining a single Bitcoin (BTC) requires about 266,000 kilowatt-hours (kWh) of electricity. This translates to almost seven years of continuous mining at a monthly energy consumption of 143 kWh. Given the rising cost of electricity, there are only a few nations where BTC mining can be profitable. Let’s have a look at some of them located in the Middle East. Top Countries to mine Bitcoin in the Middle East Source: BeinCrypto Lebanon : Although trading crypto is formally prohibited in Lebanon, there is no enforcement as such. Moreover, mining as a business seems to have grabb...

32-year-old New York man James Charles Rivera was sentenced to 96 years in a federal prison for selling steroids for crypto on a deep web black market. A press release published by the United States Department of Justice (DoJ) on Aug. 21 reveals that Rivera and his collaborators reportedly distributed anabolic steroids including Anadrol, Testosterone, Mesterolone, Halotestin and others under the “JuicePal” nickname. The DoJ said Rivera “took in millions of dollars in virtual currency and cash as proceeds from thousands of sales.” In February, Rivera plead guilty to conspiracy to distribute controlled substances and conspiracy to launder monetary instruments. In his plea agreement he admitted that he and his accomplices processed thousands of orders and received at least nearly 451 Bitcoin (BTC) — equivalent to nearly $11.75 million as of press time You might also like: Deep web darknet market administrator pleads guilty in US In addition to selli...

A former head of product at NFT marketplace giant OpenSea has been sentenced to prison and will forfeit the Ethereum (ETH) he gained from his insider trading activities.  In May, Nathanial ‘Nate’ Chastain was convicted of fraud and money laundering. The update was revealed in a press release on Aug. 22.  Chastain, whose job at OpenSea included selecting NFTs appearing on the platform’s front page, will serve a three-month jail term and another three months of home confinement. The former OpenSea executive will also be subject to three years of supervised release, pay a fine of $50,000, and forfeit the ETH he gained from the NFT insider trading . You might also like: Thai SEC levies $234,000 fine against BitKub executive for alleged insider trading Between June and September 2021, the product manager took advantage of confidential information to purchase NFTs that he knew would appear on OpenSea’s homepage. When such NFTs were eventually featured, t...