UK Lawmakers Roll Out Legislation to Seize Cryptocurrencies Used for Illegal Purposes


📌The UK Parliament has passed a bill that allows law enforcement authorities to seize cryptocurrencies associated with illicit activities. This includes investment scams, hacks, terrorism financing, money laundering, and drug trafficking.

➡️Per an official announcement on its website, the new bill, dubbed the ‘Economic Crime and Corporate Transparency Act,’ will expand the authority of local law enforcement to clamp down and recover digital assets linked to cybercrimes.

🟢The Economic Crime and Corporate Transparency Bill was passed on October 25 and received formal approval (Royal Assent) on October 26.

⚡️ One of the bill’s provisions is the confiscation of digital assets linked to illicit activities without conviction. Additionally, the law intends to combat using cryptocurrencies to fund terrorism.

SUPERSLOTH FAIR LAUNCH ANNOUNCEMENT

PLATINUM TIER

We're proud to announce the fair launch for SuperSloth.
Their fair launch is taking place tomorrow at 12pm UTC! ⏰

✅Fair launch link: https://gempad.app/presale/0xd45cE0339f927C1E06486C147A9275cc6558497f?chainId=1

SuperSloth is a community-led project and ecosystem, driven by the SSLOTH token, which facilitates community voting/governance and serves as the primary medium of exchange. 🔥


✈️Check them out at: https://t.me/SuperSlothCommunity

🔥 I Don’t Trust in Music NFTs”: French Electronic Producer DJ Agoria

While some see music NFTs—unique digital assets that often have both musical and visual components—are the future of the music industry, opening up new opportunities for both artists and fans, DJ Agoria, a prominent French electronic producer, composer, and DJ isn't too keen on the hype.

“Since the beginning, I was saying that I don't trust in music NFTs, even if I'm a DJ, an artist, and a musician. We don’t want to make music NFTs mainstream, we want music NFTs to be rare, and the fact that we develop things that people desire or fight to get, excites me more,” DJ Agoria told Decrypt at this year's NFT Paris.

For him, it's about going beyond platforms like Spotify where "for $10, you can have any type of music at any time."

DJ Agoria started his career back in the 1990s when raves dotted clubs around Europe, and those vibes are still alive today, making him “really believe in the desire and the need to look for something more.”

💰Bitcoin's correlation coefficient with Nasdaq lowest since November 2021, with tech shares rising while Bitcoin idles

SENECA FAIR LAUNCH ANNOUNCEMENT 🤔

🛡 DIAMOND TIER 🛡

It's finally time for another Diamond tier fair launch, Seneca is taking the spotlight!

Their fair launch date will be revealed soon, so stay tuned. 🔴


✅Fair launch link: https://gempad.app/presale/0x7bCF733d8841E4A41bD68300e154De4FabDEBBD5?chainId=42161

Seneca Protocol is a CDP platform for yield-bearing collateral.


✈️ Check them out at: https://t.me/seneca_protocol

Trezor Initiates Investigation as Phishing Campaign Targets Crypto Hardware Wallet Users ⚠️

🔼Trezor, a cryptocurrency hardware wallet company, is currently investigating a potential data breach due to an ongoing email phishing campaign.

📣 On October 26, the anonymous blockchain investigator ZachXBT reported a phishing attack targeting Trezor users via his Telegram channel. ZachXBT cited a post on X (formerly Twitter) from the account JHDN, which raised concerns that Trezor might have experienced a breach.

🔴These concerns were based on the receipt of phishing emails sent to the specific email accounts used for purchasing Trezor wallets, suggesting a potential compromise of user data. Users reported receiving phishing emails encouraging them to install an app from the domain’ trezorus,’ which is different from the official ‘trezorio’ domain.

🔍 Trezor is investigating the extent of the breach, and until further notice, users are advised not to click on links from unauthorized sources to safeguard their security. Trezor’s brand ambassador, Josef Tetek, confirmed the awareness of the phishing campaign and outlined the company’s ongoing efforts to combat such threats.

➡️Robinhood Agrees $600 Million Buyback of Seized Sam Bankman-Fried HOOD Stake From US Marshal Service

On August 30, Robinhood entered into a $605.7 million (HOOD) share buyback agreement with the US Marshal Service (USMS) to reclaim shares formerly held by Same Bankman-Fried (SBF) through Emergent Fidelity Technologies.

At the beginning of this year, the US government took possession of the 55 million HOOD shares owned by Bankman-Fried and Gary Wang, co-founders of FTX, through their holding company, Emergent Fidelity Technologies, after Bankman-Fried's cryptocurrency exchange, FTX, and Emergent filed for bankruptcy protection in 2022.

Last November, just six months before Bankman-Fried's company filed for bankruptcy, he disclosed a 7.6% stake in Robinhood.

However, he clarified that he had no intention of taking control of the retail trading platform. At that time, he expressed excitement about Robinhood's business prospects and potential collaboration opportunities with FTX.

According to a US Securities and Exchange Commission Filing dated August 30, the US District Court for the Southern District of New York approved the share repurchase agreement on August 28.

📌No, SpaceX Isn't the Cause of This Multi-Billion Dollar Bitcoin Bloodbath

This was the first thought that crossed the mind of Reetika, a Dubai-based bitcoin (BTC) and crypto trader, during her usual routine of checking prices after waking up.

An unexpected and major sell-off in the crypto markets jolted what was an otherwise boring few weeks for crypto and the sentiment was likely shared worldwide among traders and crypto hopefuls, Reetika told CoinDesk in a message.

Bitcoin plunged on Thursday as traders sold the tokens en masse based on several unrelated catalysts, causing the crypto markets to lose 6.7% in overall capitalization in what marked one of the biggest drops in recent months.

In the past 24 hours, Bitcoin fell as much as 9% to $25,000 from $28,500 on Binance, leading to a market-wide fall that sent major tokens like litecoin (LTC) tumbling by 14%. This caused more than $1 billion in crypto futures to be liquidated, a 14-month high.

Some pointed to space exploration company SpaceX’s supposed bitcoin sales – an unsubstantiated claim – while others said the bankruptcy of China Evergreen’s may have had something to do with the fall. However, neither of these events may have impacted prices.

SpaceX merely wrote down the value of its bitcoin holdings, as per a WSJ report. Among accountants, that is the reduction in the book value of an asset when its fair market value has fallen below the book value.

Asset write-downs are common among businesses – as it reduces the value of any holdings for tax purposes. As of Asian morning hours on Friday, SpaceX did not confirm, or report, any sales of its bitcoin holdings. As such, it remains unknown how much bitcoin or crypto the Elon Musk-owned company holds.