Category Archives: Cryptocurrency News

Samsung has developed new chips for ASIC miners

South Korean electronics giant Samsung is finishing testing and starting test production of 3nm chips. The new chips are compatible with ASICs designed for ASIC miners. The technological novelty from Samsung is designed to solve a number of critical problems associated with bitcoin mining, for example, it will reduce power consumption by 30%. In addition, the use of new chips can increase the mining speed by about 15%, as well as increase the density of…

Jordan Belfort: “Over time, bitcoin will be traded as a store of value”

Former stockbroker Jordan Belfort believes that investing in bitcoin in the long run can protect investors’ funds from inflation. Previously, Jordan Belfort was convicted of fraud related to the securities market. His memoir inspired director Martin Scorsese to create the famous film The Wolf of Wall Street. In a recent interview, Belfort recommended that investors buy bitcoin not for short-term market manipulation, but for long-term storage. According to him, there will come a time when…

US Department of Justice accuses four cryptocurrency platforms of fraud

The US Department of Justice has filed charges against the creators of the cryptocurrency projects Baller Ape Club NFT, EmpiresX, Circle Society and Titanium Blockchain Infrastructure Services, accusing them of stealing investors’ funds. Le Anh Tuan, a 26-year-old Vietnamese national, is charged with conspiracy to commit wire fraud, according to a statement released by the US Department of Justice. The attackers organized the Baller Ape Club project, selling non-fungible tokens (NFT) in the form of…

Police return 40,000 euros worth of bitcoins paid to hackers to university

Maastricht University has returned bitcoins given to unknown attackers in 2019 for unlocking data. Hackers used ransomware to block teachers and 25,000 students from accessing personal data, academic papers and the library. This prevented students from taking tests and completing assignments. To restore access to data, cybercriminals demanded a ransom in bitcoins in the amount of 200,000 euros (about $208,000). The university was only able to pay 40,000 euros. During the investigation, the Dutch police…

China accelerates the development of the blockchain market

Despite the ban on cryptocurrencies in China, the pace of certification of new blockchain services is accelerating in the country. According to a review of government documents and interviews with industry insiders, the growth of the Chinese blockchain market has noticeably accelerated in 2022. The total number of blockchain services registered by the country’s Internet regulator, the Cyberspace Administration of China (CAC), has reached 1,821. The pace of certification of new blockchain services began to…

Meta shuts down Novi crypto wallet launched six months ago

Mark Zuckerberg’s company Meta (formerly Facebook), due to numerous problems, including with regulators, decided to stop supporting its own crypto wallet. On the official website of the Novi wallet, a message appeared stating that the wallet “will no longer be available for use after September 1st.” The Novi team warns users to withdraw all their assets stored on the platform before this date, as they will then be unavailable. Several Meta executives pitched the idea…

Singapore authorities accused Three Arrows Capital of providing false data

The Monetary and Financial Authority of Singapore (MAS) announced that the Three Arrows Capital cryptocurrency fund, which was on the verge of bankruptcy, was engaged in direct deception of the regulator. In 2013, the regulator granted Three Arrows Capital the status of a registered investment fund, provided that the amount of assets under its management does not exceed $250 million. According to the MAS, the amount of funds exceeded the maximum amount allowed between July…

The European regulator requires to limit the reserves of fiat-backed stablecoins

The Basel Committee on Banking Supervision (BIS), after the collapse of the UST stablecoin, stated that in order to maintain financial stability, banks should have a limit on the holdings of unsecured crypto assets. The riskiest class of crypto assets, which includes non-backed conventional reserves or asset-pegged stablecoins, will be capped at 1% of Tier 1 capital, the document says. For large banks like JP Morgan Chase, 1% Tier 1 capital can be in the…

Spanish regulator: Only 6.8% of Spaniards invest in cryptocurrencies

The National Commission for the Securities Market of Spain (CNMV) commissioned a study, thanks to which it found out that the level of acceptance of cryptocurrencies in the country is quite low. A Grupo Analisis e Investigacion study report says that only three out of four Spaniards have heard of cryptocurrencies. However, people’s knowledge is still very limited: only 1.4% of those surveyed are well versed in digital assets. Most respondents lack knowledge of cryptography…

Court issued a decision to liquidate the crypto-hedge fund Three Arrows Capital

The Court of the British Virgin Islands has ruled on the results of a case involving Three Arrows Capital’s loss-making activities as a result of the recent sharp downturn in the cryptocurrency markets. The court ruled to liquidate the crypto hedge fund Three Arrows Capital (TAC). Partners from the New York-based consulting firm Teneo Restructuring were called in to help with the company’s insolvency case. The question of the form of repayment of TAC debt…