Crypto Ethone

  According to a report  from the Financial Times (FT), Binance chief Changpeng "CZ" Zhao and other senior executives have been hiding the crypto exchange's connections to China for years, mired in a somewhat shady series of dealings with the country. Despite Binance 's claims of leaving China following the 2017 ban on cryptocurrencies, the Financial Times alleges that the exchange maintained significant ties to the country, including an office which was allegedly used until late 2019 and a Chinese bank utilized for employee payments. This report lends a certain degree of credibility to the United States Commodity Futures Trading Commission's (CFTC) lawsuit filed against Binance on March 27, accusing the exchange of deliberately obscuring its executive offices' location and the entities operating the trading platform. In response, Binance insists that it "does not operate in China nor do we have any technology, including servers or data, based in China,...

  Digital assets on the Bitcoin blockchain are a perennial goal, but some of Bitcoin’s biggest backers don’t like the idea. When it comes to digital collectibles, most enthusiasts think of Ethereum, Solana, or Polygon—deservedly, as proof-of-stake blockchains have cornered the NFT marketplace. But digital collectibles using the Bitcoin blockchain have existed since 2014, and several projects have made it their continuing mission to bring NFTs to the first and biggest cryptocurrency. NFTs  are digital assets that are provably unique and linked to digital (and sometimes physical) content like digital art, movies, and music that show proof of ownership or membership in an exclusive group. Even though NFTs have been in the Bitcoin ecosystem for nearly a decade, however, some still don’t see the point. One of these projects is Ordinals, and some Bitcoin maximalists are calling it an affront to Bitcoin principles. Ordinals creator Casey Rodarmor takes the criticism in...

  Bitcoin could hit $1 million in just 7 years according to a new report from Cathie Wood’s ARK Invest FTX customers still don’t know if they’re going to get their money back; Sam Bankman-Fried’s criminal trial is ongoing; and the Crypto Winter of deflated coin values continues to drag on. But one of cryptocurrency’s biggest optimists still says the coin that started it all is primed for a massive comeback. Cathie Wood’s ARK Investment Management, the firm that has continued to buy crypto and shares of crypto companies even during the sector’s historic downturn over the past year, is betting on Bitcoin rising to new heights soon enough. All investors need is a little patience and faith. ARK forecasted Bitcoin to bounce back from its current lows to eventually be worth $1.48 million by 2030 in a new report published this week, a bullish scenario that would see Bitcoin’s value rising by more than 6,300% in just seven years. Bitcoin ...

  BIS Now Allows Banks to Hold 2% of Reserves in Crypto A new policy by the Bank for International Settlements (BIS) will permit banks to hold 2% of their reserves in cryptocurrencies. The BIS recently issued its  Prudential Treatment of Cryptoasset Exposure report  for December 2022 in which it introduced a policy that now allows banks to hold 2% of their reserves in cryptocurrencies. The policy, the second consultation of one published earlier in the year, covers several aspects of how crypto assets are to be defined, processed, and is set to take effect on January 1, 2025. In the first iteration of this report, published in June, the BIS announced that banks would be limited to holding no more than 1% of their reserves in cryptocurrencies. The policy groups crypto assets into two cohorts. Group 1 is defined as tokenized traditional assets and crypto assets that have an “effective stabilization mechanism.” Group 2 are referred to as digital assets that “fail to meet any...

They want us to believe there was an  Anatoly Legkodymov  till now on crypto space... Accused of dealing with dirty money as part of "high-tech axis of crypto crime" Washington  – The founder and senior executive of cryptocurrency exchange Bitzlato was arrested on Tuesday in Miami and charged with directing the company to knowingly transmit funds derived from cybercrimes and other illicit activity, Justice Department officials announced Wednesday. Anatoly Legkodymov, a Russian national living  in China, is accused of using Bitzlato to create a safe financial haven for criminals, requiring little identifying information for its customers and allowing transactions to go virtually untraced and shielded from investigators. According to prosecutors, the company even allowed users to submit fake registrant information to avoid detection. Investigators said that anonymity attracted drug and cyber criminals looking to exchange their illicit money to Legkodymov and his compan...