86-year-old to pay $14M after admitting to running crypto Ponzi scheme

United States authorities appear to be resurrecting past techniques to crack down on crypto firms and banks offering services to the industry, several sources told Cointelegraph.The alleged strategy consists of isolating the traditional financial system from the crypto market by relying on “multiple agencies to discourage banks from dealing with crypto firms,” with the goal…

Key Ethereum price metrics suggest that ETH’s pause at $3,800 is temporary.

Located in Europe, on the southern tip of Spain, the British Overseas Territory of Gibraltar is a bubbling hotbed of cryptocurrency adoption. In an interview with Cointelegraph, Albert Isola, Minister for Digital and Financial Services for Her Majesty's Government of Gibraltar, explained the territory's approach to crypto and shed some light on his own investment interests. Isola…

Despite the changing attitude toward altcoins and initial coin offerings (ICO) on the whole, Launchpad — the token offering platform developed by the world’s leading cryptocurrency exchange Binance — is selling out of its offerings in a matter of minutes. With the firm now concluding a series of sold-out token launches, the company divided opinions…

Industry insiders have pointed out the flaws inherent in multisig security as a way to protect funds in smart contracts, and have offered various alternative solutions. 1093 Total views 28 Total shares The recent exploit on Harmony’s Horizon Bridge revealed the inherent flaws with multisig admin keys that leave projects and their users “one small…

On Jan. 25, the International Monetary Fund’s (IMF) directors asked El Salvador to “narrow the scope” of its Bitcoin Law by “removing Bitcoin’s legal tender status.” Adopting a cryptocurrency as the Central American country has done “entails large risks for financial and market integrity, financial stability and consumer protection,” the fund wrote.Why did the IMF…

The crypto contagion only hurt entities that poorly managed their treasuries, but didn't affect the underlying blockchain technology, he said. 32 Total views 3 Total shares The crypto contagion sparked by Terra’s infamous implosion this year only spread to companies and protocols with “poor balance sheet management” and not the underlying blockchain technology, says Kraken…

SBI Holdings is proposing Ripple partner with multinational corporations to increase transparency and traceability across supply chains. Yoshitaka Kitao, Chief Executive Officer (CEO) of Japanese financial giant SBI Holdings, has proposed Ripple partner with multinational companies in addition to financial institutions. His recommendation was partially influenced by Japan’s handling of the COVID-19 pandemic.Kitao, also a…

Mexican cryptocurrency exchange Bitso will from now on be regulated by the Gibraltar Financial Services Commission (GFSC), a July 19 announcement revealed.An apparent first in Latin AmericaIn what Bitso claims is an apparent first in Latin America, as of August 1, the custody, withdrawals, deposits and trading of cryptocurrencies on its platform will be overseen…