Search Results for: Greed

Crypto Exchange Bitmex’s Founders Plead Guilty to Bank Secrecy Act Violations

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The founders of cryptocurrency derivatives exchange Bitmex, Arthur Hayes and Benjamin Delo, have pled guilty to violations of the U.S. Bank Secrecy Act. “As a result of its willful failure to implement AML and KYC programs, Bitmex was in effect a…

El Salvador Rejects IMF Call to Abandon Bitcoin as Legal Tender

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El Salvador has rejected the recommendation by the International Monetary Fund (IMF) to drop bitcoin as legal tender. The country’s finance minister reportedly “angrily” said, “No international organization is going to make us do anything, anything at all.” El Salvador Says…

Bitmex Acquiring German Bank to Create ‘Regulated Crypto Powerhouse’ in Europe

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Crypto exchange Bitmex is acquiring a German bank to create “a regulated crypto powerhouse.” The company plans to establish “a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland.” Bitmex Plans to Become a Regulated Crypto Powerhouse Cryptocurrency exchange…

Bitcoin Dips Below $44K, Crypto Economy Drops 4.5%, Traders Rush to Stablecoins

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The price of bitcoin dropped below the $44K zone on Wednesday to $43,678 per unit as the entire crypto-economy has shed billions in value. At the time of writing, the overall crypto economy is down 4.5% as it dipped to $2.25…

CFTC Fines ‘Decentralized’ Prediction Market Platform Polymarket $1.4 Million, Shuts Down Noncompliant Markets

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The U.S. Commodity Futures Trading Commission (CFTC) has ordered a “decentralized” prediction market platform to shut down non-compliant markets and pay a fine of $1.4 million. “Polymarket had been operating an illegal unregistered or non-designated facility for event-based binary options online…

Dubai to Create Crypto Zone, Binance Joins Effort

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The Dubai World Trade Centre will become a comprehensive ecosystem for cryptocurrencies and providers of related services. The move is part of efforts to support new industries and the emirate intends to source help from crypto companies like Binance. Dubai World…

Jack Dorsey and Elon Musk Raise Concerns Over Web3 as Skepticism About Ownership Grows

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Former Twitter CEO Jack Dorsey has ignited a debate about web3 after Tesla CEO Elon Musk criticized it. Dorsey warned of the risks from centralization, emphasizing that web3 is owned by venture capitalists (VCs), hiding under the premise of decentralization. “I’m…

Dogecoin Soars After Elon Musk Announces Tesla Will Accept DOGE

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Dogecoin got a boost Tuesday morning when Elon Musk announced that Tesla will be accepting dogecoin for some products. Musk has just been named Time Magazine’s Person of the Year and said that DOGE is more suitable for transactions than bitcoin….

‘Wolf of Wall Street’ Jordan Belfort Warns About Investing in Dogecoin and Shiba Inu Cryptocurrencies

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Jordan Belfort, the former stockbroker whose memoir was made into a film starring Leonardo DiCaprio, has warned about investing in meme cryptocurrencies, like dogecoin (DOGE) and shiba inu (SHIB). Belfort explained that “People are taking advantage of an unregulated market,” emphasizing…

Elon Musk Calls Binance’s Dogecoin Problem ‘Shady’ — Says He’s Raising the Issue on Behalf of Other DOGE Holders

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Tesla and Spacex CEO Elon Musk has raised concerns with cryptocurrency exchange Binance about its dogecoin issue. Musk calls the situation “shady,” adding that “DOGE holders using Binance should be protected from errors that are not their fault.” Both Binance CEO…