Author: bitcrypto.io

Binance’s billionaire founder Changpeng Zhao was sentenced to four months in prison on Tuesday, after pleading guilty to charges of enabling money laundering at his crypto exchange. “You had the wherewithal, the finance capabilities, and the people power to make sure that every single regulation had to be complied with, and so you failed at that opportunity,” U.S. District Judge Richard Jones said to Zhao in a Seattle federal court, according to a Reuters report. The sentence handed down to the former Binance chief was significantly less than the three years that federal prosecutors had been seeking for him. The…

Six spot bitcoin and ether exchange traded funds (ETFs) gained in their Hong Kong debut on Tuesday. The launch of Asia’s first cryptocurrency-based ETFs comes three months after a similar move in the United States. Unlike in the US, however, crypto enthusiasts in Hong Kong can also invest by swapping their own tokens, as well as buying with cash. After listing on the Hong Kong stock exchange, bitcoin ETFs launched by China AMC, Harvest and Bosera climbed more than 2 percent by midday, while three funds linked to ether were also up. Speaking at a launch event, the executive director…

Carv, a data layer platform that lets web3 gaming and AI companies, as well as gamers, control and monetize their data, has raised a $10 million Series A round led by Tribe Capital and IOSG Ventures. This funding milestone follows a strategic investment round led by HashKey Capital just five months prior. Although Carv has not disclosed its current valuation or total funding, in 2022, its seed round led by Temasek’s Vertex Ventures valued the company at approximately $40 million. Carv’s primary focus is on gaming and AI industries, recognizing the immense potential for users to control and profit from…

You also stand to win 5 SOL with a US$5 trade on Crypto.com The cryptocurrency market’s resurgence has been making headlines again, and among the best-performing categories is none other than a community favourite: meme coins! With top movers like MANEKI (MANEKI), MOG Coin (MOG), and Wen (WEN) posting serious gains, Crypto.com want to use this opportunity to give you even more reason to boost your meme coin trading volume. Until 7 May, Crypto.com App users stand to win 5 SOL by trading as little as US$5 worth of the three cat-themed meme coins listed above. What’s more, the 100…

On Thursday, a noteworthy event occurred in the cryptocurrency market as $1.3 billion worth of USD Coin (USDC) was transferred from significant whale addresses to the crypto exchange Coinbase. This sizable movement has sparked speculation among market observers, who interpret it as a potential bullish signal for both Bitcoin (BTC) and Ethereum (ETH). Analyst Lark Davis commented on the significance of this transfer, suggesting that if indeed it represents a large-scale purchase by a whale at current market prices, it could substantially influence the prices of Bitcoin and Ethereum. The transfers, totaling $1.3 billion, occurred in five separate transactions ranging…

President Joe Biden’s administration has presented a disputable idea to impose a 44% tax on cryptocurrency transactions. This policy, whose purpose is to bring more revenue into the government treasury, has instigated an explosion of criticism from different quarters such as industry leaders, lawmakers and investors in the crypto community. Critics Concerns Innovation, investment, and worldwide competitiveness of the US crypto industry are the foundations on which the critics of this tax rise are building their claims. Many suggest that such high tax rates may scare off the innovators and investors who might want to participate in the crypto projects,…

The president of Nigeria has appointed a new chair for the Securities and Exchange Commission (SEC) with a mandate to oversee the capital market, bolster investor confidence, and foster economic growth. The appointment of Emomotimi Agama, former managing director of the Nigerian Capital Market Institute (NCMI), to lead the SEC has garnered positive attention from the blockchain community in Nigeria. Agama’s background in supporting crypto initiatives is viewed as a promising sign for the local crypto industry. President Bola Ahmed Tinubu’s decision to appoint Agama reflects a strategic move to regulate the capital market effectively and promote a supportive environment…

The U.S. Securities and Exchange Commission (SEC) has asked the court to order Terraform Labs and Do Kwon to pay around $5.3 billion as part of the final judgment against the two defendants. This sum includes $4,192,147,847 in disgorgement and $545,748,909 in prejudgment interest. SEC Seeks Final Judgment Against Terraform Labs and Do Kwon The U.S. Securities and Exchange Commission (SEC) filed a motion on Friday seeking final judgment against defendants Terraform Labs and co-founder Do Hyeong Kwon, aka Do Kwon. The SEC clarified that on April 5, the jury had delivered a verdict against the defendants, finding them guilty on all counts. The…

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Meta chief executive Mark Zuckerberg on April 24 said the company would continue to meaningfully grow its investments in artificial intelligence (AI) even as he reassured investors of the potential monetisation opportunity from the nascent technology in the future. “We’ve historically seen a lot of volatility in our stock during this phase of our product playbook – where we’re investing in scaling a new product but aren’t yet monetizing it. We saw this with Reels, Stories, as News Feed transitioned to mobile and more” Zuckerberg said during the company’s earnings conference call. Zuckerberg’s comments came after the company revealed it…