The U.S. Securities and Exchange Commission is expected to make a key decision on approving ether exchange-traded funds next week. But it will likely fail due to a lack of an over-arching regulatory framework for all cryptocurrencies, according to Ric Edelman, head of the Digital Assets Council of Financial Professionals. “I think that there’s going … Read more
Nicolas Economou | Nurphoto | Getty Images Bitcoin jumped with stocks on Wednesday after the April consumer price index showed inflation eased from the previous month. The price of the cryptocurrency rose more than 7% to $66,124.59, according to Coin Metrics, and its best day since March 25. It also traded above its 50-day moving … Read more
R.Tsubin | Moment | Getty Images Bitcoin isn’t running alongside meme stocks as it did three years ago, although this week’s stock market action might indicate a big crypto rally is on its way. GameStop and fellow meme stock AMC Entertainment are each up more than 160% over the past two days. Meanwhile, bitcoin is … Read more
A panel of judges in the Netherlands has found Alexey Pertsev, one of the developers behind crypto anonymizing tool Tornado Cash, guilty of money laundering. Over the course of two days in March, the Russian national was tried on the allegation that the tool he developed had allowed criminals—among them hackers with ties to North … Read more
In the conclusion of that same statement to the court, they point out that under Dutch law the maximum prison sentence for money laundering at the scale Pertsev allegedly committed is eight years, and they ask that Pertsev be sentenced to five years and four months if he’s found guilty. The Tornado Rolls On Cryptocurrency … Read more
When the Ordinals system was first released, it divided bitcoiners. Inscriptions were a near-instant hit, but some felt they were a bastardization of bitcoin’s true purpose—as a system for peer-to-peer payments—or had a “reflexive allergic reaction,” says Rodarmor, to anything that so much as resembled an NFT. The enthusiasm for inscriptions resulted in network congestion … Read more
Some creditors of the bankrupt crypto exchange FTX are preparing to reject a plan that would see them recover 118 percent of the money they lost. The proposal is far less generous than it might seem, they claim. Starting in January, the FTX creditors began to form a voting block, now made up of 1,600 … Read more
Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, arrives at court in New York, US, on Thursday, Feb. 16, 2023. Yuki Iwamura | Bloomberg | Getty Images Almost all customers of collapsed cryptocurrency exchange FTX will get their money back — and more, according to a court filing. FTX estimates that it owes creditors around … Read more
Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. Mike Segar | Reuters | Benjamin Girette | Bloomberg | Getty Images An arch rivalry between one-time crypto titans was brought to a close at a federal courthouse in Seattle on Tuesday when Binance founder Changpeng … Read more
Fulfilling the world’s surging demand for AI chatbots and image generators depends on mundane components as much as glitzy GPUs. Server cabinets, heavy-duty metal enclosures to store GPU systems, have at times been a crucial bottleneck. As it scrambled to build up its facilities, CoreWeave once ordered 1,400 of the wrong cabinets. It was a … Read more
