Page 8 - Crypto Trading

More crypto miners to fall after Core Scientific bankruptcy, say experts

Bitcoin halving among primary reasons that may lead to more firms shutting down

Former FTX CEO Sam Bankman-Fried to fly to US today, escorted by FBI agents

Sam Bankman-Fried signed his surrender documents on Tuesday, he will sign a separate set of papers finalising his waiver of rights to fight extradition

ED attaches Rs 907 crore worth assets of crypto exchanges under PMLA

The Enforcement Directorate has attached proceeds of crime worth Rs 907 crore and arrested three persons in cases related to money laundering by crypto exchanges, Parliament was informed on Monday. Minister of State for Finance Pankaj Chaudhary said Central GST officers have detected Goods and Services Tax (GST) evasion worth Rs 87.60 crore by 12 crypto exchanges. Recovery of Rs 110.97 crore, including interest and penalty, has been made. The minister said further investigation is under process in eight cases and four cases are closed on payment of tax along with interest and penalty. Further, in case of crypto exchange Zanmai Labs Pvt Ltd, known as WazirX, assets worth Rs 289.68 crore have been seized from the exchange and its Directors for violation of the provisions of the foreign exchange management act (FEMA), Chaudhary said. In a written reply to a question in the Lok Sabha, the minister said the Directorate of Enforcement is investigating several cases related to crypto .

After Binance, crypto exchange CoinDCX publishes Proof of Reserves

The company said that it intends to post its PoR every quarter and will soon launch a live dashboard to show its reserves and liabilities in real-time for investors

Women above 41 more active in crypto trading than men in India: Report

Women from West Bengal, Haryana and Uttar Pradesh were involved in the most crypto trades on the platform: Crypto exchange WazirX

Sam Bankman-Fried's political donations under US scanner: Report

The disgraced cryptocurrency entrepreneur, whose empire made him a billionaire before it collapsed and he was arrested, was a major political donor

Crypto wrap: Macro indicators improve, market stable despite Fed rate hike

On December 15, after the US inflation of 7.1 per cent for November was announced, Bitcoin touched its five-week high of $18,400

CoinSwitch to foray into wealth tech, launches new logo, mobile app

CoinSwitch is expected to launch its new products by 2023 to become the first Indian crypto company to diversify into other asset classes

Senate crypto hearing yields big claims, possible regulation in US

Whether increased regulation would have prevented the spectacular collapse of cryptocurrency exchange FTX was fiercely debated at a hearing of the Senate's banking committee Wednesday. However, new legislation is potentially on the way. Sen. Elizabeth Warren announced at the hearing bipartisan legislation aimed at cracking down on cryptocurrencies being used in money laundering. The legislation, co-sponsored by Republican Sen. Roger Marshall of Kansas, would require cryptocurrency exchanges to verify customer identities like banks and other financial institutions do. Crypto has become the preferred tool for terrorists, for ransomware gangs, for drug dealers and for rogue states that want to launder money, said Warren, the Massachusetts Democrat, adding that crypto doesn't get a pass to help the world's worst criminals no matter how many television ads they run or how many political contributions they make. Republican Sen. Cynthia Lummis, of Wyoming, said she and Democratic Sen. ...

How a software change let Sam Bankman-Fried's FTX use client funds

That tweak in the code got the attention of the US Securities and Exchange Commission (SEC), and charged Bankman-Fried with fraud

GST Council's fitment panel clarifies tax levy on SUVs, UPI transactions

Defers the classification of crypto assets under GST regime

FTX CEO secretly gave $27 mn to crypto news site The Block, its CEO

Bankman-Fried also loaned McCaffery $16 million, some of which helped him purchase property in the Bahamas, where FTX is headquartered, according to Axios

Crypto wrap: Market stable even as FTX fallout claims one more victim

The total market cap has improved marginally from $855 billion last Friday to $859 billion on December 9

How two Pythagoras crypto hedge funds dodged the market collapse

Pythagoras Investment Management LLC has two funds that have been rare bright spots in a market that's been eviscerated by a number of scandals

Telegram's next step is to let users securely trade, store cryptos: CEO

He said that this can fix the wrongs caused by the excessive centralisation, "which let down hundreds of thousands of cryptocurrency users"

Indian crypto industry group writes to govt for 'strong regulations'

Bharat Web3 Association says collapse of USA's FTX highlights 'lacunae in corporate governance'

Cryptocurrency lender BlockFi goes bankrupt in aftermath of FTX downfall

BlockFi said in a statement that it will use the Chapter 11 process to "focus on recovering all obligations owed to BlockFi by its counterparties, including FTX and associated corporate entities"

Blocked 700 crypto accounts between April-Sep over irregularities: WazirX

The crypto exchange received 828 requests from law enforcement agencies, of which 764 were Indian and 64 were foreign

After FTX chaos, Indian crypto exchanges try to calm nervous investors

Cryptocurrency news: On Friday, the crypto market cap was at $826 billion, Bitcoin was trading at $16,451 and Ethereum at $1,180

Bankrupt crypto exchange FTX owes top creditors more than $3 billion

The failed cryptocurrency exchange FTX owes more than $3 billion to its largest creditors, the company disclosed in a court filing over the weekend. The list of the top 50 unsecured claims against FTX gives the public a first glance into the amount of money Sam Bankman-Fried's companies may owe his customers. The top claim was more than $226 million. The names, addresses and other information about the claims was redacted by the court. Bahamas-based FTX filed for bankruptcy on Nov. 11 after the exchange acknowledged that it had used customer funds to cover bad bets by Bankman-Fried's trading arm, Alameda Research. Since it went into bankruptcy, the lawyers tasked with sorting through the aftermath have described in court filings a company that little risk controls and would use company funds to pay for personal purchases of its employees. Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as