MLM Network Zone

Trust in central and commercial banks is eroding quickly. The internet and social media are oil in the fire and Bitcoin is the extinguisher. bit.ly/3f7o14k http://dlvr.it/SlmK1w

The OCC is replacing its Office of Innovation with a new body that will help it stay on top of fintech developments and emerging risks. from Cointelegraph.com News https://ift.tt/x6VEIud via IFTTT

Millions of U.S. dollars’ worth of cryptocurrency has been sent to centralized exchanges (CEXs), most notably Binance, from wallets providing funds in support of Russia’s war effort in Ukraine, transaction data suggests. According to Ukrainian analysts, the money was transferred to the crypto trading platforms in order to be laundered. Over 90% of Pro-Russian Crypto Transfers Identified in a Study Sent to Largest Exchange More than $40 million was sent last year from wallets that were used to sponsor the Russian invasion of Ukraine to cryptocurrency exchanges, according to an analysis of such transactions conducted by Hapi Labs. The main purpose of these transfers was to launder the money, the Ukrainian startup claims in a post on Twitter published Tuesday. While various amounts went to a number of crypto platforms, nearly 96% of the digital cash reached Binance, the world’s largest cryptocurrency exchange. Researchers at the company, which provides blockchain tracking tools and d...

The focus on crypto regulation was part of the U.K. government’s plan to fight economic crime, which also included addressing law enforcement's ability to seize and store assets. from Cointelegraph.com News https://ift.tt/0JBerm7 via IFTTT

Join us as we discuss the significance of Bitcoin reaching $29,000 and why it seems to be unaffected by all the regulatory pressure and collapsing banks. from Cointelegraph.com News https://ift.tt/ubNo2KV via IFTTT

Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured Creditors Oppose Sam Bankman-Fried’s Request for D&O Funds Sam Bankman-Fried (SBF), the former CEO of FTX, is seeking access to a $10 million legal insurance fund to cover his defense expenses. The filing notes that FTX’s $10 million director and officer (D&O) insurance policy covers individuals who are “legally obligated to pay on account of any claim first made against them.” However, FTX debtors and the committee of unsecured creditors have criticized SBF’s request, arguing that granting him access to the insurance funds would harm the debtors and cause “material prejudice.” “Thus, for every dollar extended by the insurance carrier to ...

Bridge protocols LayerZero, Celer, Wormhole, LiFi, and others have already committed to implementing the new protocol. from Cointelegraph.com News https://ift.tt/wVrTe2k via IFTTT

Lincoin Technologies introduces Rails programming tool for Bitcoin miners to optimize their operations in real-time. bit.ly/3f7o14k http://dlvr.it/SljHYn

According to two sources close to FTX, Sam Bankman-Fried, the disgraced co-founder, gave his father, Stanford Law professor Joseph Bankman, millions of dollars. The funds are reportedly being used to pay for legal costs. The sources said that Bankman-Fried allegedly gave “at least $10 million” from the now-defunct quantitative trading firm Alameda Research to his father. Sources Claim SBF’s Legal Defense Is Paid for by Alameda Loot After the latest revised indictment charges against Sam Bankman-Fried (SBF), Forbes reports that funds tied to Alameda Research may be paying for SBF’s legal defense. Forbes contributors Sarah Emerson and Steven Ehrlich explained that two unnamed sources disclosed that SBF directed “at least $10 million from Alameda” to his father, Joseph Bankman. The duo is accused of using a “lifetime estate and gift tax exemption” for the funds, which were allegedly given to Bankman in 2021. SBF has pleaded not guilty to his indictment charges, and last year, he pu...

The ARB airdrop followed the sell-the-news narrative, but Arbitrum's Dapp use and fundamentals remain strong and smart money continues to buy ARB tokens. from Cointelegraph.com News https://ift.tt/mrbOoQz via IFTTT

Peer-to-peer marketplace Paxful will refund its Earn program users impacted by Celsius Network's bankruptcy. from Cointelegraph.com News https://ift.tt/7YdcJlQ via IFTTT

On Tuesday, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, also known as the Senate Banking Committee, held a hearing to discuss the recent bank collapses in the United States and the regulatory response. Throughout the testimonies, digital assets and crypto businesses were mentioned. Senate Banking Committee chairman Sherrod Brown claimed on Tuesday that Signature Bank “found itself in the middle of Sam Bankman-Fried’s crime spree at the crypto exchange FTX.” Regulators Highlight Bank Exposure to Crypto Asset Businesses in Senate Banking Committee Hearing About Bank Failures Following the collapse of Silvergate Bank, Silicon Valley Bank, and Signature Bank, the Senate Banking Committee held a hearing to discuss the situation and its implications. The hearing witnesses included Martin Gruenberg, chairman of the Federal Deposit Insurance Corporation (FDIC); Michael Barr, vice chairman for supervision with the Board of Governors of the Federal Reserve; and Nellie L...

While trying to wrap his CryptoPunk to borrow money, an NFT investor accidentally sent the asset to a burning address, permanently removing it from circulation. from Cointelegraph.com News https://ift.tt/CUtrHxZ via IFTTT

The former FTX CEO reportedly gave Joseph Bankman roughly $10 million funded by a loan from Alameda Research as a part of a lifetime estate and gift tax exemption. from Cointelegraph.com News https://ift.tt/YWmc4J9 via IFTTT

Using zero-knowledge proofs, ZeroSync seeks to radically reduce the computational costs of bootstrapping a fully-validating Bitcoin client. bit.ly/3f7o14k http://dlvr.it/SlfKDh

The survey also found that 24% of women have allocated more than 20% of their portfolios to crypto. from Cointelegraph.com News https://ift.tt/5shg6Uf via IFTTT

Cybersecurity firm Mandiant has “graduated” a new group of hackers who finance state goals and their own existence with the help of crypto laundering. from Cointelegraph.com News https://ift.tt/CFHSIeW via IFTTT

According to a recent white paper published by four members of the law firm Cooper & Kirk, PLLC, U.S. bank regulators are attempting to “drive crypto businesses out of the financial system.” The paper, titled “Operation Chokepoint 2.0,” claims that after laying the groundwork by labeling lawful businesses as “reputationally risky,” federal bank regulators, with the help of state officials, “turned to the task of purging their accounts from each of the banks subject to their supervision.” Constitutional Issues Raised by Operation Chokepoint 2.0: Depriving Businesses of Due Process and Key Structural Constitutional Protections Five days ago, Bitcoin.com News published an article that examines recent discussions in the crypto community regarding “Operation Chokepoint” and why crypto proponents believe the U.S. government aims to eliminate access to cryptocurrencies. On Monday, the Washington D.C. law firm Cooper & Kirk published a white paper on the subject, noting that U.S. ...

BTC options and derivatives markets seem unfazed by the CFTC’s recent action against Binance, but is that a good or a bad sign? from Cointelegraph.com News https://ift.tt/2R0zk94 via IFTTT

A prosecutor investigating Terraform Labs CEO Do Kwon for alleged passport forgery in Montenegro has indicated that he will not be extradited soon. The law enforcement official told South Korean media that Montenegrin authorities intend to indict Kwon within a month, ruling out the possibility of him being handed over to other countries within the detention period. Passport Forgery Investigation Takes Precedence Over Extradition Requests in Do Kwon’s Case It may take some time before an extradition process begins for Do Kwon, the South Korean Yonhap news agency reported, quoting the prosecutor working on the case of the Terraform Labs co-founder who was recently arrested in Montenegro. Judicial condemnation of crimes that have taken place in Montenegro’s jurisdiction is a priority for the authorities in the small Balkan nation, Haris Šabotić stated in an interview in the Montenegrin capital Podgorica on Monday. Šabotić is in charge of the local investigation against Kwon for alle...

It all started with FTX, FDIC head Martin Gruenberg said; he emphasized that the American banking system remains sound. from Cointelegraph.com News https://ift.tt/h13L5Ez via IFTTT

The CFTC lawsuit details how the firm allegedly offered unregistered commodity derivatives to American customers. bit.ly/3f7o14k http://dlvr.it/SlbKJX

The response comes in relation to a series of claims made by the CFTC in its March 27 complaint against Binance. from Cointelegraph.com News https://ift.tt/GbETYyQ via IFTTT

Despite Bitcoin’s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s). The 400 exahash equates to 0.4 zettahash or four hundred quintillion hashes per second. As the hashrate continues to climb, research analyst Sam Wouters at River Financial estimates that at the current growth rate, Bitcoin could reach the zettahash era “by the end of 2025.” Reasons for the Increase in Bitcoin Hashrate: Insights from River Financial Analyst Two days ago, Bitcoin.com News reported that the difficulty of the Bitcoin network had increased for the third consecutive time in the last six weeks. The difficulty is now at an all-time high of around 46.84 trillion after increasing by 7.56% on March 23, 2023. On the same day, Bitcoin’s hashrate peaked at 400 exahash per second, representing an unimaginable four...

The document creates multiple offices tasked with fulfilling various jobs for the protocol, each with their own powers and responsibilities. from Cointelegraph.com News https://ift.tt/y9q4onC via IFTTT

According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across the United States. Silicon Valley Bank Purchased by First Citizens in FDIC-Mediated Deal The FDIC has announced that First Citizens Bank has taken over Silicon Valley Bank (SVB) following the acquisition of Signature Bank by Flagstar seven days prior. According to the FDIC, as of March 10, 2023, SVB had $167 billion in total assets and approximately $119 billion in total deposits. First Citizens Bank purchased $72 billion worth of SVB’s assets “at a discount of $16.5 billion,” the FDIC said. The federal deposit insurance entity also stated that “approximately $90 billion in securities and other assets will remain in receivership for disposition by the FDIC.” As part of the...

The suit claims Binance used Ether as a commodity in its financial products, experts explained, which says little about the basic nature of the coin. from Cointelegraph.com News https://ift.tt/4oWRFUn via IFTTT

Two lawmakers in one week weighed in against the possibility of a United States central bank digital currency. from Cointelegraph.com News https://ift.tt/roA3aVi via IFTTT

Environmentalist Margot Paez describes her own Bitcoin journey and how inclusivity is not mere “woke ideology.” bit.ly/3f7o14k http://dlvr.it/SlYF8W

Coinbase explained that it is now “more important than ever” to build an inflation-tracking stablecoin that negates poor monetary policy decisions of central banks. from Cointelegraph.com News https://ift.tt/LpBdOmu via IFTTT

A U.S. lawmaker has introduced the Blockchain Regulatory Certainty Act to ensure that developers and non-custodial service providers in the crypto space are not considered money transmitters and are not subject to the same level of regulation as custodial cryptocurrency exchanges. “The longer we delay providing this commonsense clarification, the greater risk that this transformative technology is driven overseas, depriving domestic users and investors,” the lawmaker warned. Blockchain Regulatory Certainty Act Launched U.S. Congressman Tom Emmer (R-MN), the majority whip of the U.S. House of Representatives, announced on Thursday that he has introduced the Blockchain Regulatory Certainty Act (BRCA), “which affirms that blockchain developers and service providers that do not custody consumer funds are not money transmitters.” This bipartisan bill is co-led by Representative Darren Soto (D-FL). Emmer first introduced a similar bill in 2018. “Crypto and blockchain technology, by natur...

The founder of crypto exchange Bitzlato, who is facing a money laundering case in the U.S., is seeking support from members of the community. Anatoly Legkodymov was arrested in January for his role in the trading platform which allegedly processed millions of dollars’ worth of illicit funds. Bitzlato Founder Looking for Bail Guarantors in U.S. Anatoly Legkodymov, one of the founders and majority owner of the Russia-linked cryptocurrency exchange Bitzlato, has turned to the crypto community, hoping to find U.S. citizens who would agree to become guarantors for his release on bail. The Hong Kong-registered trading platform was disrupted in mid-January by law enforcement in Europe, where French investigators seized its servers and hot wallet while several of its employees and executives were detained in other countries. Legkodymov, a Russian national residing in China, was apprehended in Miami on money laundering charges . The U.S. Justice Department claims his exchange transferred...

Many investors have rotated their portfolio investments due to the banking crisis in the past two weeks, injecting billions of dollars on money market funds in the United States. from Cointelegraph.com News https://ift.tt/gPBiuXZ via IFTTT

Greenpeace, the well known environmental NGO, has unveiled the “Skull of Satoshi,” an art installation intended to spark debate about the impact of Bitcoin on the environment. The 11-foot skull was constructed with electronic waste materials and features smokestacks and Bitcoin logos. However, its creator, Benjamin Von Wong, explained it was not meant to be an anti-Bitcoin symbol. Greenpeace Unveils ‘Skull of Satoshi’ Art Installation Greenpeace, the international environmental NGO, unveiled the “Skull of Satoshi” on March 23, an 11-foot art installation destined to criticize Bitcoin’s effect on the environment. The structure, which was created by Benjamin Von Wong, has distinctive elements included to spark a debate on how destructive bitcoin mining can supposedly be. One of these is the presence of smokestacks, which symbolize the use of fossil fuels to produce the energy that serves to operate the Bitcoin network via mining. Also, the skull has hundreds of protruding cables and ...

Bitcoin price is making another run at $28,000 and this is luring altcoin traders into XRP, LTC, XMR and AVAX positions. from Cointelegraph.com News https://ift.tt/CKDEMQ1 via IFTTT

With a rich history and recent evolution, Belgrade is now home to the latest Bitcoin working and presentation space. bit.ly/3f7o14k http://dlvr.it/SlVFWh

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has warned that the Federal Reserve’s continued rate hikes will crash stocks, bonds, real estate, as well as the U.S. dollar. He expects the next crash to be the “$1 quadrillion derivatives market.” Robert Kiyosaki on Interest Rate Hikes, Market Crashes The author of Rich Dad Poor Dad, Robert Kiyosaki, reiterated his warnings of market crashes and the danger of the Federal Reserve raising interest rates this week. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki tweeted Thursday: Raising interest rates will crash stocks, bonds, real estate, & $ U.S. dollar. Next crash: $1 quadrillion derivatives market. $1 quadrillion is $1 thousand trillion. The Federal Reserve raised interest rates ...

Coinbase’s Wells notice hints at enforcement action on the horizon, Terraform Labs CEO Do Kwon arrested in Montenegro and FTX seeks to sell $95 million in Mysten Labs stocks. from Cointelegraph.com News https://ift.tt/f6gZ9JK via IFTTT

Switzerland’s troubled Credit Suisse and its rescuer, USB, are subject to an investigation into whether bankers helped Russian oligarchs evade Western sanctions, according to a media report. Some major U.S. banking institutions are also under scrutiny within the probe initiated by the Justice Department, sources say. Credit Suisse, US Banks Investigated for Suspected Sanctions Violations Favoring Russia’s Rich Switzerland-based global investment banks and financial services firms, Credit Suisse and UBS, are under scrutiny by the U.S. Department of Justice (DOJ), Bloomberg revealed, quoting knowledgeable sources who remained anonymous. According to the report, the department has been trying to establish if financial professionals working for these and other banks have supported sanctioned wealthy Russians in attempts to circumvent restrictions imposed by Western governments. U.S. authorities have sent out a number of subpoenas to employees of the two Swiss giants as well as some ma...

ETH worth over $101 million had been returned to the lending protocol as of March 25. The exploiter still controls part of the stolen assets. from Cointelegraph.com News https://ift.tt/kWcZ9Kn via IFTTT

Over the past week, statistics show non-fungible token (NFT) sales totaled $193.08 million, down 5.44% from the previous week. Ethereum dominated NFT sales with more than $107 million or 55% of all sales, while Solana-centric NFT sales recorded $26.3 million or 13% of sales in the same period. NFT Market Shows Signs of Slowdown With Declining Weekly Sales and Lower 30-Day Totals Non-fungible token sales, or NFT sales, fell 5.44% this week compared to last week, with $193.08 million in sales recorded across 19 different blockchains. Cryptoslam.io statistics indicate that 30-day sales are generally down, with total sales of $912.54 million, more than 29% lower than last month. The top five blockchains in terms of NFT sales this week were Ethereum ($107M), Solana ($26M), Polygon ($6M), Immutable X ($5.3M), and Cardano ($3.16M). Solana’s NFT sales increased by 37.16% this week, while Cardano’s NFT sales jumped 44.27% higher than the previous week. However, Ethereum, Polygon, and Immu...

According to Venezuela's attorney general office, government officials were running parallel oil operations with the assistance of the national crypto department. from Cointelegraph.com News https://ift.tt/u5bgS2y via IFTTT

As some of the cryptocurrency industry’s go-to banks failed, Bitcoin’s importance was on display while its on and off ramps suffered. bit.ly/3f7o14k http://dlvr.it/SlS5tk

Deutsche Bank shares plunged on Friday, along with the stocks of other European banks, amid investor concerns over the stability of the global banking sector. The drop comes in the aftermath of the recent emergency rescue of Credit Suisse and follows losses in U.S. banks on Thursday. Deutsche Bank Credit Default Swaps Jump to 4-Year High Shares of European banks, most notably Deutsche Bank , fell before the weekend amid persisting concerns among investors about the state of the banking industry on the Old Continent, across the Pond and beyond. Having lost a fifth of their value since the start of the month, Deutsche shares plunged almost 15% on March 24, their lowest level in five months, Reuters pointed out. The report noted that in just one week, Germany’s largest lender has seen $3 billion wiped off its value. The drop followed the significant increase in the cost of ensuring the bank’s debt against the risk of default. Deutsche’s credit default swaps reached over 220 basis poi...

The Arbitrum airdrop has created quite a hype in the DeFi industry, with several fake airdrops and exploits leading up to the distribution. from Cointelegraph.com News https://ift.tt/HF85tM3 via IFTTT

The banking crisis is a catalyst for the next crypto bull run, in which Bitcoin will likely outperform all crypto assets, says Bloomberg analyst Mike McGlone. from Cointelegraph.com News https://ift.tt/LPnzm1X via IFTTT

According to a report published by AFP, Do Kwon, CEO of Terraform Labs, has been charged with document forgery in Montenegro. Kwon was arrested at the Podgorica airport while traveling with fake documentation. South Korean prosecutors have said the Terra co-founder faces extradition to South Korea. Montenegro Police’s Account of the Falsified Travel Documents Found in Kwon’s Possession Terraform Labs co-founder and CEO Do Kwon, also known as Kwon Do-hyung, was arrested on Thursday in Montenegro, a mountainous country located in South Eastern Europe on the Balkan Peninsula. The news was first disclosed on March 23 by Montenegro’s interior minister Filip Adzic who explained Kwon was apprehended at the Podgorica airport bearing phony identification documents. According to a report published by the AFP on Friday, Kwon is now being charged with forgery in Montenegro. Kwon was also traveling with an unknown companion who was also taken into custody. “A criminal complaint was filed aga...