Crypto company Ripple has responded to the Securities and Exchange Commission’s (SEC) pursuit of nearly $2 billion in fines by advocating for a different approach. Stuart Alderoty, Ripple’s Chief Legal Officer, conveyed the company’s stance in a statement on the X (formerly Twitter) platform, stating that the case “had no allegations (or findings) of recklessness or fraud.”
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🇸🇻 El Salvador 💰 bitcoin wallet suffers source code, VPN access leak
El Salvador's bitcoin wallet has suffered a security breach, marking the latest attack on its national crypto program. Cybercriminal group CiberInteligenciaSV leaked on Tuesday snippets of the wallet's source code and VPN access information on an online hacking forum. The exploit marks one of the latest attacks against El Salvador’s official Chivo Wallet for bitcoin, which have plagued the program as the prices of some cryptocurrencies sail to two-year highs.
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El Salvador's bitcoin wallet has suffered a security breach, marking the latest attack on its national crypto program. Cybercriminal group CiberInteligenciaSV leaked on Tuesday snippets of the wallet's source code and VPN access information on an online hacking forum. The exploit marks one of the latest attacks against El Salvador’s official Chivo Wallet for bitcoin, which have plagued the program as the prices of some cryptocurrencies sail to two-year highs.
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🇭🇰 Hong Kong's 'in-kind' spot bitcoin and ether ETFs to start trading April 30
Hong Kong has officially cleared the way for six crypto-based spot ETFs to begin trading on April 30, according to Bloomberg analysts. Initially, three spot bitcoin and three spot ether exchange-traded funds will become available, allowing investors to wager on the price of the two dominant cryptocurrencies without having to buy them directly. Earlier this month, Hong Kong approved several spot bitcoin ETFs and spot ether ETFs managed by China Asset Management, Harvest Global, Bosera and HashKey.
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Hong Kong has officially cleared the way for six crypto-based spot ETFs to begin trading on April 30, according to Bloomberg analysts. Initially, three spot bitcoin and three spot ether exchange-traded funds will become available, allowing investors to wager on the price of the two dominant cryptocurrencies without having to buy them directly. Earlier this month, Hong Kong approved several spot bitcoin ETFs and spot ether ETFs managed by China Asset Management, Harvest Global, Bosera and HashKey.
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https://t.me/CryptoMarketTime
🇨🇦 KPMG survey reveals significant uptick in institutional adoption of crypto in Canada
The Canadian financial sector witnessed a significant uptick in crypto adoption in 2023, according to a recent survey by KPMG in Canada. Financial Services: 50% of respondents now provide at least one type of cryptoasset service, increasing from 41% in 2021. Crypto trading, custody, clearing, and settlement services saw substantial growth, with 52% of firms now offering trading services, up from none reported in the previous survey.
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The Canadian financial sector witnessed a significant uptick in crypto adoption in 2023, according to a recent survey by KPMG in Canada. Financial Services: 50% of respondents now provide at least one type of cryptoasset service, increasing from 41% in 2021. Crypto trading, custody, clearing, and settlement services saw substantial growth, with 52% of firms now offering trading services, up from none reported in the previous survey.
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https://t.me/CryptoMarketTime
🇪🇺 Europe tightens crypto regulations with new anti-money laundering laws
Crypto Asset Service Providers (CASP) in Europe would have to implement stringent Know Your Customer (KYC) procedures to combat money laundering following the European Parliament greenlight of new Anti-Money Laundering Regulations (AMLR), according to an April 24 statement. Under the AML, a new regulatory body called the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) will oversee and enforce compliance with the revamped protocols.
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Crypto Asset Service Providers (CASP) in Europe would have to implement stringent Know Your Customer (KYC) procedures to combat money laundering following the European Parliament greenlight of new Anti-Money Laundering Regulations (AMLR), according to an April 24 statement. Under the AML, a new regulatory body called the Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) will oversee and enforce compliance with the revamped protocols.
Source
https://t.me/CryptoMarketTime
🇺🇸 FBI warns Americans against using unregistered crypto money transmitting services
The U.S. Federal Bureau of Investigation has warned Americans against using unregistered crypto money transmitting services. Americans should avoid crypto services from firms that are not registered as Money Services Businesses (MSBs) under federal law and do not follow anti-money laundering rules, according to a Thursday statement from the FBI's Internet Crime Complaint Center (IC3).
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The U.S. Federal Bureau of Investigation has warned Americans against using unregistered crypto money transmitting services. Americans should avoid crypto services from firms that are not registered as Money Services Businesses (MSBs) under federal law and do not follow anti-money laundering rules, according to a Thursday statement from the FBI's Internet Crime Complaint Center (IC3).
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https://t.me/CryptoMarketTime
Fidelity’s spot bitcoin exchange-traded fund saw daily net outflows of $22.61 million on Thursday, becoming the first day the ETF saw more funds move out since its January listing, according to SoSoValue data. Several other U.S. bitcoin funds reported daily outflows, totaling a drainage of $217.58 million. Grayscale’s converted ETF lost $139.37 million, while Ark Invest and 21Shares’ fund saw $31.34 million move out, SoSoValue data showed. Valkyrie’s fund lost $20.16 million and Bitwise saw an outflow of $6 million.
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Binance could strengthen its defense against the US Securities and Exchange Commission (SEC) by drawing on an unrelated case. On April 26, Binance and related parties filed a government document from an unrelated case against Mango Markets exploiter Abraham Eisenberg, who was convicted by a jury on April 18. Binance’s defense team drew attention to a specific paragraph in which the US government expressed its position on whether a particular stablecoin, USDC, is a security.
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🇺🇸 DOJ Counters Motion to Dismiss Charges Against Tornado Cash Developer
The government’s submission to the Southern District of New York opposes dismissing the charges against Roman Semenov, who, along with Roman Storm, is accused of operating Tornado Cash as a mechanism for cybercriminals to launder more than $1 billion, including monies linked to North Korea’s armament programs. The document specifies that from September 2020 to August 2022, Tornado Cash reportedly engaged in extensive laundering activities, using blockchain anonymity technology to conceal the origins of illegal funds.
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https://t.me/CryptoMarketTime
The government’s submission to the Southern District of New York opposes dismissing the charges against Roman Semenov, who, along with Roman Storm, is accused of operating Tornado Cash as a mechanism for cybercriminals to launder more than $1 billion, including monies linked to North Korea’s armament programs. The document specifies that from September 2020 to August 2022, Tornado Cash reportedly engaged in extensive laundering activities, using blockchain anonymity technology to conceal the origins of illegal funds.
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Stablecoin issuer Tether has invested $200 million in Blackrock Neurotech, a biotech company that builds tools to help people afflicted with paralysis, lost function, and neurological disorders. The investment was made through Tether's newly formed venture division Tether Evo. With the investment, Tether is now the majority stakeholder in Blackrock Neurotech, the stablecoin issuer said Monday.
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Ethereum developer Consensys brought the U.S. Securities and Exchange Commission to court, seeking a declaration that ether is not a security. This legal battle will be a prolonged affair, according to investment bank TD Cowen. As a result, the bank reiterated that spot Ethereum exchange-traded funds are unlikely to gain approval before 2025. SEC Chairman Gary Gensler is "okay" with the court deciding whether ETH is a security or commodity, according to TD Cowen.
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According to The Block's Data Dashboard, implied volatility (IV) for ether ATM options has dropped from over 88% to a current IV of around 60% for one week, one month and multi-month expires. IV for bitcoin ATM options for the same expiry ranges has also fallen, from a mid-month high of over 77% to a current reading of below 51%.
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Celsius Network burned its CEL holdings, representing the majority of the token supply, on April 30. Etherscan indicates the company burned 652.2 million CEL by sending it to a null address. The burned amount represents 94% of the previous total supply, which amounted to 692.8 million CEL, valued at roughly $83.2 million at current market price. The transaction originated from a wallet controlled by Celsius, based on Arkham Intelligence data.
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Binance co-founder Changpeng Zhao, commonly known as CZ, expressed his thanks to his supporters following his sentencing to four months in prison over breaking compliance rules. Zhao was sentenced in Seattle on Tuesday after pleading guilty to anti-money laundering violations. He has also agreed to pay a $50 million fine. The former Binance CEO said that he plans to spend the next chapter of his life on education, where he has started a project called Giggle Academy.
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🇬🇧 UK sharpens focus on crypto regulation in latest anti-money laundering report
The UK Financial Conduct Authority (FCA)’s recent anti-money laundering and counter-terrorist funding (AML/CTF) efforts have focused heavily on crypto. The UK Treasury said in a May 1 report that the FCA considers crypto firms — like retail and wholesale banks and wealth management firms — to be “particularly vulnerable” to financial crime and at the highest risk for exploitation through money laundering.
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https://t.me/CryptoMarketTime
The UK Financial Conduct Authority (FCA)’s recent anti-money laundering and counter-terrorist funding (AML/CTF) efforts have focused heavily on crypto. The UK Treasury said in a May 1 report that the FCA considers crypto firms — like retail and wholesale banks and wealth management firms — to be “particularly vulnerable” to financial crime and at the highest risk for exploitation through money laundering.
Source
https://t.me/CryptoMarketTime
Liquid staking and MEV infrastructure project Jito has become the largest protocol on Solana, with $1.4 billion in total value locked. At the equivalent of around 10 million SOL, Jito accounts for some 38% of the Solana ecosystem’s $3.7 billion TVL, according to DeFiLlama data. Staking protocol Marinade is second with $1.37 billion in TVL, followed by Kamino, Raydium, and Marginfi at $1 billion, $613 million, and $424 million, respectively.
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🇮🇷 Elizabeth Warren raises concerns over Iran’s crypto mining operations
Senators Elizabeth Warren and Angus S. King, Jr. have formally addressed top Biden administration officials in a letter concerning US efforts to combat Iran’s utilization of crypto mining as a means to evade international sanctions. Addressed to Secretary of Defense Lloyd Austin, National Security Advisor Jake Sullivan, and Treasury Secretary Janet Yellen, the letter details concerns over Iran’s increasing capabilities in the sector since it legalized crypto mining in 2019.
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https://t.me/CryptoMarketTime
Senators Elizabeth Warren and Angus S. King, Jr. have formally addressed top Biden administration officials in a letter concerning US efforts to combat Iran’s utilization of crypto mining as a means to evade international sanctions. Addressed to Secretary of Defense Lloyd Austin, National Security Advisor Jake Sullivan, and Treasury Secretary Janet Yellen, the letter details concerns over Iran’s increasing capabilities in the sector since it legalized crypto mining in 2019.
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https://t.me/CryptoMarketTime
Marathon has once again set a milestone by mining the largest block ever recorded on the Bitcoin blockchain. Namely, block 841,886, showcased a manifesto of a decentralized technology initiative called Logos, featuring just four transactions with the manifesto. For their efforts, Marathon’s mining pool earned a reward of 3.16977148 BTC, including 0.04477148 BTC, or $2,654.55, collected in transaction fees.
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📣 Crypto trader loses $70.5 million in address poisoning scam, highest recorded yet
Blockchain security firm Cyvers Alert reported that an unnamed crypto trader lost 1,155 Wrapped Bitcoin (WBTC), equivalent to $70.5 million worth, to address poisoning. Meir Dolev, the founder and CTO of Cyvers, added that this was “probably the highest value lost due to an address-poisoning scam.” Address poisoning is one tactic malicious entities employ to exploit crypto traders. This nefarious act typically ensnares victims by luring them into transferring digital assets to fraudulent addresses owned by scammers.
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Blockchain security firm Cyvers Alert reported that an unnamed crypto trader lost 1,155 Wrapped Bitcoin (WBTC), equivalent to $70.5 million worth, to address poisoning. Meir Dolev, the founder and CTO of Cyvers, added that this was “probably the highest value lost due to an address-poisoning scam.” Address poisoning is one tactic malicious entities employ to exploit crypto traders. This nefarious act typically ensnares victims by luring them into transferring digital assets to fraudulent addresses owned by scammers.
Source
https://t.me/CryptoMarketTime
Alexander Vinnik, a Russian national who operated the crypto exchange BTC-e, pled guilty to charges of money laundering conspiracy in the US on May 3, according to a Bloomberg report. BTC-e was one of the world’s largest crypto exchanges between 2011 and 2017. According to the prosecutors, it processed transactions worth $9 billion and had a customer base of over 1 million worldwide. The prosecutors added that BTC-e was used by cyber criminals to transfer, launder, and store criminal proceeds from illegal activities.
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