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If there’s any obvious winner among the top 10 crypto assets following Donald Trump’s secured his resounding election victory, it appears to be bitcoin. The price of the world’s largest crypto asset rallied at key moments on Tuesday, coinciding with developments in electoral predictions.  As the Associated Press, NBC, Fox, and other news sources progressively called battleground states in Trump’s favor, traders watched bitcoin rally to a series of all-time highs. The tether between bitcoin and Trump was evident on real-time charts and displayed for the entire world to see. Bitcoin’s swell also raised the tide across thousands of altcoins with leaderboards like CoinMarketCap turning green almost without exception. Ether, Solana, BNB, XRP, and Dogecoin are all decidedly higher now than 24 hours ago. However, another top 10 digital asset didn’t rally at all — despite securing a massive victory. Tether (USDT), the world’s largest stablecoin, was trading ...

Tether has blocked six new wallets on the Ethereum network, likely due to being linked to the Russia Finiko ponzi scheme .  According to blockchain intelligence firm ChainArgos, the wallets might have made suspicious transfers to Finiko-linked addresses. However, no other noticeable suspicious transactions were observed from these addresses. 1/4 @Tether_to just blacklisted 6 new wallets: On Ethereum: – 0x691169914a13465bd9528292f8fbdd0301354941 – 0x6d82a3743261e0ac77116f4cf153338bec3c69c6 – 0x016a2046689fc94eec7d23545693bc7b81dbabd1 – 0x873e288d432d1e8dd93defa63406fd9a80580491 -… — ChainArgos (@ChainArgos) December 20, 2023 You might also like: Coinbase CEO considers anti-crypto bills as ‘bad political strategy’ Finiko was a pyramid scheme launched in Russia in 2018, which saw victims lose up to $95 million. Last year, Interpol arrested the scam leader, Edvard Sabirov, in the UAE. However, several other members of the scam are still a...

Exved is a Russia n firm that announced its launch yesterday, December 7th. The firm intends to enable exchange s between Tether (USDT), rubles, and the dollar. Sergey Mendeleev’s InDeFi Bank, a Russia n bank, appears to have launched the project in collaboration with Exved. Mendeleev is also the found er of Garantex with Stanislav Drugalev, an Office of Foreign Asset Control (OFAC) sanctioned entity. Exved purports to only work with legal and compliant entities and is focusing its efforts on importers and exporters. In a since-deleted article from CoinTelegraph, Mendeleev claimed that the Exved’s mechanics have been approved by the Bank of Russia.  One of the largest counterparties of the Hydra darknet market was Garantex, the other cryptocurrency exchange that Mendeleev founded. The announcement from OFAC details how Garantex lost its license in Estonia after review by the authorities found “critical AML/CFT deficiencies and found connections between Garan...

An unfortunate crypto investor has reportedly been swindled out of a staggering $4.46 million in a phishing scam involving Tether (USDT). According to blockchain data from Etherscan, the funds were initially withdrawn from a Kraken crypto exchange wallet and later transferred to an address ending in “ACa7.” Blockchain security firm PeckShield has identified this address as belonging to a phishing scammer. #PeckShieldAlert The address 0x2175…f7D9 got scammed for 4.46M $USDT Victim's address: 0x2175c0082d052872501f7fe54e1aC59858aaf7D9 Scammer's address: 0xAbb07822F471773Ff00b9444308ceEB7cf0dACa7 pic.twitter.com/Ny9CIrkBxw — PeckShieldAlert (@PeckShieldAlert) September 21, 2023 Scam Sniffer, another platform that alerts users to blockchain scams, indicated on Sept. 20 that the funds were directed to an address associated with a fraudulent Coinone crypto mining exchange. someone withdrew $4.46 million from Kraken to a fake Coinone crypto-mining exc...

Paxos has released a transparency report on PayPal’s recently launched PYUSD stablecoin. The report , dated Aug. 31, 2023, reveals that the stablecoin is backed by $45.3 million in assets, primarily held in US Treasury Reverse Repurchase Agreements (REPO) and cash deposits at insured depository institutions. Paxos transparency report The report also shows that there are $44,376,440 in circulation backed by $45,360,147. Even so, this is significantly lower than the total net collateral of the leading stablecoins in the market. Latest data shows that Tether’s USDT has a total net asset of  $81.8 billion, while Circle’s USDC has over $26.14 billion.  You might also like: PayPal introduces web3 payment solutions for businesses Assets backing PYUSD primarily consists of $43.86 million in U.S. Treasury REPO and $1.5 million in cash deposits. The cash deposits are held in insured depository institutions and exceed Federal Deposit Insurance Corporation (FDIC) insurance ...

Huobi exchange has been the subject of significant discussion within the crypto community due to unfavorable circumstances. Speculations about financial instability were accompanied by notable increases in the withdrawal of funds, causing concerns for the company. Amidst the exchange’s assertions about its stability, there is a notable volume of asset transfers taking place. Notably, a substantial whale executed two sizable deposits into Huobi, resulting in a significant augmentation of the exchange’s reserves of USDT and Ether. Based on current information, the large investor proceeded to conduct a transaction involving a collective sum of $200 million in USDT earlier today. Furthermore, this was succeeded by an additional transfer of 5,000 ETH, which held a value of $9.15 million. Speculation arose among many that this individual could potentially be Justin Sun from Tron, as the associated address was tagged with ‘JustinSun’. #PeckShieldAlert #JustinSun la...

Five men have been charged with kidnapping Ontario’s self-proclaimed ‘ Crypto king’ Aiden Pleterski in a bid to recoup their alleged ly misappropriated investments, CBC Toronto has learned, the same day that a video of him visibly injured at the hands of kidnappers was shared with the outlet. 39-year-old Akil Heywood lost $740,000 in investments to the ‘crypto king’ and has been accused alongside four other men of kidnapping Pleterski last December. The video obtained by CBC the same day as the five men were charged supposedly shows Pleterski covered in bruises and explaining what happened to the money while apologizing to investors. In the video, Pleterski claims to have lost close to $45 million while investing in crypto when the market crashed in November 2021. “When the crypto market started to tank in November of 2021, I should have been honest with everybody,” he said. Ontario ‘crypto king’ lost $40 million Pleterski is in the middle of a ...

By now, it’s common knowledge that Sam Bankman-Fried (SBF) was secretly routing FTX customer funds to his trading firm, Alameda Research, and used it to trade against those same customers on FTX. Oh, the irony. Unfortunately, FTX isn’t the only crypto exchange that trades against its own customers — and the practice has a long history. In the 1990s and 2000s, binary options exchanges and forex exchanges regularly operated ‘B Book‘ exchanges — where forex brokers take the opposite of a customer’s bet and accept the market risk. As opposed to ‘A book’ forex brokers who actually fill customer orders on an independent exchange, B book brokers simply notate customer orders and settle trades internally. Digital asset exchanges likely trade against their customers more often than they want to admit. Its prevalence is likely as pervasive as B book binary options and forex exchanges. In fact, the name of major crypto exchange Binance, currently embroiled in a mountain...

Welcome to the 124th Weekend Shift! What’s the deal? Over the weekend, we’ll update this post with some of the most interesting articles, podcasts, charts, and opinion pieces we’re too busy to write about. OK, only Crypto ? Not necessarily. We do that Monday to Friday, so we try to explore new subjects on weekends. Feel free to join in and submit entries on Twitter. Any topic is fair game. 1 hour ago ️ pic.twitter.com/Wxej3ctSUu — Protos (@Protos) June 23, 2023 What a chart. 60 mins ago Twitter Spaces host Mario Nawfal’s dubious crypto dealings https://t.co/zNfOHjJzEI — Protos (@Protos) June 16, 2023 Seems like a good time to bump this piece. 59 mins ago Mario Nawfal, the guy behind the big Twitter space today, has a history of scamming people for millions of dollars Source: I used to be his CMO Ask me anything, and I'll give you the truth + evidence Sharing everything before he 100% makes more victims My receipts: pic.twitter.com/6cO9F9S5...

In an exclusive interview with crypto.news, Paolo Ardoino, chief technology officer at Bitfinex and Tether, provided a fascinating insight into his journey in the cryptocurrency industry, his thoughts on regulation, and the role of bitcoin in the future. Journey into crypto Ardoino, a lifelong developer, got involved in the cryptocurrency industry after discovering bitcoin (BTC) as a potential ledger solution to outdated and bug-ridden financial technology. Beginning his journey with Bitfinex in 2014, he worked on improving their bitcoin trading platform before transitioning to his current role as the CTO of Tether in 2017. This position led to his involvement in expanding various business lines within the company. Ardoino views coding as more than just a technical endeavor; to him, it’s a creative process through which ideas can be brought to life. The cypherpunk ethos and tether’s role During the 2022 PlanB forum in Lugano, Italy, Ardoino, alongside Adam Beck and Ni...

Tether, the world’s largest stablecoin, has announced that it’s investing in renewable energy production for bitcoin mining in Uruguay. The size of the investment and the “local licensed company” it’s partnering with were not revealed in the press release. Tether chief technology officer and face of the company Paolo Ardoino said, “Tether is proud to spearhead a movement that combines cutting-edge technology, sustainable practices, and financial innovation.” On its recruitment page for this project, Tether is advertising for talent in Uruguay, Spain, and Argentina and is looking specifically for recruiters, electricians, technicians, and managers. Uruguay is notable for the amount of its energy production that comes from renewable resources, with the International Trade Administration estimating the number at 98% . iFinex, one of the companies that operates Bitfinex, Tether ’s sister company, has previously invested in bitcoin min...