Cryptocurrency & Mining - Page 3

Ripple has announced a new president will take the helm at the company as the cryptocurrency coin reaches the end of its long lawsuit with the US Securities and Exchange Commission (SEC).

The company took to its blog to announce that Monica Long, Ripple's senior vice president, and general manager, will be taking up the position of president of the company. Long started her career at Ripple when the firm was in its infancy, counting just ten employees back in 2013. Sticking with Ripple long made her way up the ranks to eventually be given the position of general manager in 2020.

A blockchain investigator has revealed the hackers behind the Harmony Bridge attack that occurred in June 2022 are trying to move millions in stolen funds.

Reports indicate that blockchain investigator ZachXBT found evidence that the group of hackers behind the Harmony Bridge exploitation that cost the startup $100 million are trying to move the stolen funds to a few different wallets on various cryptocurrency exchanges. For those that don't know, Harmony is a US cryptocurrency startup that discovered in June 2022 that its Horizon blockchain bridge, which allows users to send/receive assets from one blockchain to another, had been hacked.

ZachXBT took to Twitter with on-chain data that backed up his claims that the hackers behind the Harmony attack transferred stolen assets to six different cryptocurrency exchanges. Notably, ZachXBT states that the appropriate cryptocurrency exchanges were notified of the transfer and at least partly froze the assets. Additionally, the movement of the stolen funds to the new addresses comes only days after the Federal Bureau of Investigation (FBI) announced the culprits behind the $100 million Harmony hack. The FBI named the Lazarus Group and APT38 as responsible criminals.

A new report claims the US Securities and Exchange Commission (SEC) has accidentally leaked the personal information of many cryptocurrency miners.

The claims come from the Washington Examiner, which published a report that stated it had seen screenshots of the SEC failing to bbc all of the people involved in its investigation into the blockchain company, Green. As the report states, the SEC has been privately investigating Green for years and communicated with many of its members that cooperated with the regulatory body. Green's users answered all of the SEC's questions, and on January 6 the regulatory body failed to bbc all 650 users in an email, leaking their personal information online.

Notably, the information that was leaked contained personal data such as names, email addresses, and more. Cryptocurrency enthusiasts have said that the leaked information is more than enough for a hacker to access the "nodes", or computers used to mine the Green cryptocurrency token. These nodes are used to verify transactions of the coin across the network, and according to crypto enthusiasts, they are now compromised.

The United States Securities and Exchange Commission (SEC) has announced it will be filing charges against FTX founder and former CEO Sam Bankman-Fried (SBF).

The announcement from the SEC comes shortly after Bahamian law enforcement revealed that SBF had been arrested, which was confirmed by the US Attorney's Office Southern District of New York. The arrest by Bahamian authorities was done at the request of the US government, with Bahamas Attorney General (AG) and Minister of Legal Affairs, Ryan Pinder, adding that if the US requests extradition, the Bahamas will respond "promptly".

Notably, Bahamian prime Minister Philip David said that both countries have a "shared interest in holding accountable all individuals associated with FTX who may have betrayed the public trust and broken the law." According to reports, SBF is facing charges of wire and securities fraud, conspiracy to commit wire and securities fraud, and money laundering.

On a recent Twitter post, Elon Musk announced that he is taking action against a small number of bad actors who control large armies of bot and spam accounts on the platform.

In the post, Musk stated that he is shutting down the IP addresses of these individuals in order to combat their malicious activity. This move is a response to the growing problem of bots and spam accounts on Twitter, which have been used for a variety of nefarious purposes, such as spreading misinformation, manipulating public opinion, and spamming cryptocurrency scams. These bot armies have become increasingly sophisticated and can be difficult to identify and combat.

Musk's decision to shut down the IP addresses of these bad actors is a bold move that could have significant repercussions for the individuals involved. It will likely disrupt their ability to operate their bot and spam accounts, at least temporarily. However, it is unclear how effective this move will be in the long term, as the individuals involved may simply switch to using different IP addresses or find other ways to continue their malicious activity.

The collapse of what was the world's second-largest cryptocurrency exchange, FTX, is still being felt across the cryptocurrency industry, and the individual at the center of it all, Sam Bankman-Fried, is now finding himself at the center of another collapse that happened back in May 2022.

A new report from the New York Times reveals that Manhattan prosecutors have launched an investigation into Sam Bankman-Fried's (SBF) involvement in the collapse of the Terra blockchain and its Luna stablecoin. The report claims that FTX pushed out a large number of sell orders of TerraUSD while simultaneously shorting the price of Luna, according to an unnamed source.

SBF is alleged to have manipulated the market, which created the domino effect that resulted in the collapse of the two interlinked currencies in a move to "make a fat profit". In November, SBF's cryptocurrency empire completely collapsed when $8 billion of customer funds was found in the company's balance sheets, resulting in SBF filing for chapter 11 bankruptcy and investigations launched by federal prosecutors and the Securities and Exchange Commission (SEC) over funds being transferred to FTX's sister company Alameda Research.

Sam Bankman-Fried has taken to his Twitter account to reveal that he won't likely be attending the upcoming US House Committee hearing regarding the collapse of FTX.

Sam Bankman-Fried (SBF), the former CEO of what was the world's second-largest cryptocurrency exchange before it went bust, FTX, has taken to his personal Twitter account to announce that he is still "learning and reviewing what happened" to cause the collapse of his cryptocurrency exchange, and that once he has finished figuring out what happened, he will appear in front of a House Committee. SBF has been accused of misappropriating customer funds, hence the investigation launched by the US House Financial Services Committee last month.

The US House, Financial Services Committee, is planning on holding a hearing in December where multiple people and companies involved in the collapse of FTX will speak, including people from Alameda Research, FTX's sister company that's closely tied to the collapse of the crypto exchange, Binance, which a major player in its downfall, and more. Many cryptocurrency investors believe that SBF is currently getting away with one of the biggest frauds in history, which is why many crypto holders hoped they would get some clarity on what happened at FTX at the upcoming House Committee hearing.

An artificial intelligence system has been taught how to play a video game and has learned how to beat top human players.

The video game that has since been mastered by an artificial intelligence (AI) is Stratego, and the AI system that is now beating top players is from Google's AI company DeepMind, which developed its latest artificial intelligence called DeepNash. Google engineers taught DeepNash how to play Stratego, which is a game that involves two players attempting to capture each other's flag, and according to DeepMind's Twitter post regarding the achievement, the game is more complicated than chess, Go, and poker.

For those that don't know, Stratego involves two players attempting to figure out each of their opponent's 40 game pieces that are in unknown locations across the board. According to DeepMind's website, Stratego is a "game of imperfect information" and requires each player to "balance all possible outcomes when making a decision", which makes it a much more complex game than chess, Go, or poker as it far more possible game states. For example, Go has more possible game states with a figure of ten to the power of 360, while Stratego has ten to the power of 535 game states.

Kraken announced on Wednesday that it is firing 30% of its workforce in response to the cryptocurrency market downturn.

The cryptocurrency exchange explained in a blog post that due to macroeconomic and geopolitical factors paired with the state of the financial markets, Kraken has experienced significantly lower trading volumes and fewer client sign-ups. In response to this overall downturn, Kraken says it will be reducing hiring frequency, avoiding large market commitments, and reducing its global workforce by approximately 1,100 people to adapt to current market conditions.

Kraken explains that all "Krakenites," or individuals that have been let go from the company, will receive 16 weeks of base pay inclusive of the paid leave period, performance bonuses, four months of healthcare continuation, an extended window of time for their vested stock options, immigration support, and outplacement support.

The saga of the collapse of what was the world's second-largest cryptocurrency exchange, FTX continues, with reports now coming out about FTX's top lawyers trying to take control away from former FTX CEO Sam Bankman-Fried.

Over the course of one week, the world's second-largest cryptocurrency exchange collapsed in slow motion over a liquidity crunch closely tied to FTX's sister company Alameda Research. Now that the implosion has occurred, the fallout is being felt throughout the cryptocurrency industry, with companies such as BlockFi recently filing for bankruptcy as the FTX fallout severely impacted them. Additionally, more details about the events behind the scenes leading up to the implosion are coming out.

According to new reports, as FTX was in the midst of crumbling, top FTX lawyers reportedly attempted to take away control of the company from former CEO Sam Bankman-Fried (SBF), who ignored messages from the lawyers that requested SBF prepare for bankruptcy and halt exchanges. Ryne Miller, a top FTX lawyer, wrote in an email to Mr. Bankman-Fried and other staff on November 10, "The exchanges must be halted immediately. The founding team is not currently in a cooperative posture."

On November 11, BlockFi paused withdrawals, which coincided with the same day FTX filed for bankruptcy and the fallout of what was the world's second-largest cryptocurrency exchange began.

On November 14, the cryptocurrency lender reported having "significant exposure" to the now-bankrupt FTX, and all its entities, with sources at the company speaking to the press and informing them that the company was currently preparing to file for bankruptcy. Fast forward to November 28, wherein an official statement, the New Jersey-based company announced it will be focusing on recovering all obligations owed to BlockFi, but "recoveries from FTX will be delayed" due to its bankruptcy.

Rewind back to June of this year, BlockFi announced that it signed a deal with FTX that enabled them a $250 million line of credit that gave the cryptocurrency lender access to capital that "further bolsters our balance sheet and platform strength," according to BlockFi CEO Zac Prince. BlockFi wrote on November 11, the same day that FTX filed for bankruptcy, that "we, like the rest of the world, found out about this situation through Twitter." Adding, the company was, "shocked and dismayed by the news regarding FTX and Alameda."

Binance has sent a whopping $2 billion worth of Bitcoin to an unknown wallet address, amounting to a total of 127,351 Bitcoin sent in a single transaction.

Whale Alert reported the transaction occurred on November 28, with on-chain data suggesting that the $2 billion was sent at 10:00 AM UTC and only cost Binance a fee of 0.000026 BTC, or $0.42. Following the collapse of what was the world's second-largest cryptocurrency exchange, FTX, many cryptocurrency holders are justifiably concerned with the movements of cryptocurrency exchanges, especially ones of such large volumes.

Unsurprisingly, the transaction caused a ripple effect of fear, uncertainty, and doubt (FUD) to spread online, which sparked a response from Binance CEO Changpeng "CZ" Zhao, who took to Twitter to explain that the $2 billion transaction was a part of Binance's proof-of-reserve (PoR) audits. These audits are to demonstrate that the cryptocurrency exchange holds the same number of funds it publicly claims to have, hence "proof-of-reserve".

The fallout of the implosion of what was the world's second-largest cryptocurrency exchange, FTX, is still being felt around the world and at the center of it all is former FTX CEO and co-founder Sam Bankman-Fried.

Sam Bankman-Fried, or as often referred to as SBF, was once touted as one of the most generous billionaires in the world, and since the utter collapse of the FTX cryptocurrency exchange, SBF has admitted the "ethics stuff" had been "mostly a front". FTX filed for Chapter 11 bankruptcy on November 11, the same day SBF stepped down as CEO, with Bloomberg now reporting that SBF's own lawyers are now dropping him as a client over several of his tweets that he has made since November 11.

Reports indicate that some of SBF's lawyers have thrown in the towel over SBF's "incessant and disruptive tweeting", with Paul Weiss counsel Martin Flumenbaum saying in a statement, "We informed Mr. Bankman-Fried several days ago, after the filing of the FTX bankruptcy, that conflicts have arisen that precluded us from representing him."

The most powerful rocket in the world has launched NASA's Orion spacecraft on a 25-day journey to the Moon and back to Earth as part of the space agency's Artemis program.

NASA has taken to its blog to outline and summarize what has long been the objective of the Artemis 1 mission. With the launch being the first hurdle NASA has now put behind it, the space agency has moved on to what's now up next for Orion. The small spacecraft is a critical mission for NASA's future Artemis mission as it will inform the agency on what changes/improvements it will need to make to reduce risk as well as yield better results.

The space agency recently announced on its blog that Orion performed a burn that successfully put it on its way to the Moon. When Orion was approximately 58,000 miles away from Earth, the small spacecraft used its cameras located on its solar panels and inside the cabin to snap some photographs. Those photographs can be found in the link below.

The downfall of FTX is still in mid-flight, with the former CEO and co-founder of the cryptocurrency exchange discussing his version of the events on his Twitter account.

The face of FTX, Sam Bankman-Fried (SBF), has been caught in a whirlwind of his own creation by being accused of mishandling customer assets through FTX's sister company called Alameda Research, who was purportedly using FTX customer money to make poorly placed trades. Additionally, reports have surfaced that Alameda Research routinely engaged in frontrunning, which is the act of making investment decisions based on insider knowledge.

In the case this case, Alameda Research is accused of making investment decisions with its insider knowledge of which new cryptocurrency tokens were being listed on the FTX exchange. Over the course of the last two days of the fallout following the declared bankruptcy by SBF, the former CEO has taken to his Twitter account to post "what happened" over two days, followed up by a few posts on what his goals are, with one of them being "is to do right by customers" and that "I'm meeting in-person with regulators and working with the teams to do what we can for customers. And after that, investors. But first, customers."

The collapse of the world's second-largest cryptocurrency exchange, FTX, is being felt around the world, with several prominent businesses within the space now making the impact known.

The downfall of FTX and the announcement from the company's CEO, Sam Bankman-Fried, that he was declaring bankruptcy, companies that held large stakes in FTT token, or held lines of credit with FTX and any of its affiliated companies would be exposed to its fallout. On November 8, BlockFi CEO Flori Marquez announced via Twitter that BlockFi crypto lending products were "fully operational" and that the company held a $400 million line of credit with FTX US, a separate entity from FTX global which was the entity most affected by the liquidity crunch.

However, on November 14, BlockFi Inc reported having "significant exposure" to the now-bankrupt FTX, and all its entities, according to a new article by The Wall Street Journal. According to people familiar with the matter that spoke to WAPO, BlockFi is now planning on laying off staff while preparing to file its own chapter 11 bankruptcy. Another cryptocurrency company in a seemingly similar boat to BlockFi is fellow crypto lending platform SALT, which paused its withdrawals and deposits as "the collapse of FTX has impacted our business".

The collapse of one of the world's largest cryptocurrency exchanges has sparked widespread fear in the cryptocurrency space as the legitimacy of exchanges are thrown into question.

Thousands of cryptocurrency holders have begun rushing to exchanges to withdraw their assets following the shocking collapse of FTX at the hands of Sam Bankman-Fried (SBF), who was once labeled as the "the most generous billionaire in the world". It has since come out that SBF mishandled FTX user assets, and once doubt spread that FTX's liquid money reserves weren't what the company was saying they were, the cryptocurrency exchange experienced the online equivalent of an old-school bank run.

A bank run was when thousands of people would all go to the bank at once and request their noted money be converted back into gold, which should have been safely stored at the bank. Suppose the bank wasn't holding a proportional amount of gold to the noted money it had given out to its customers. In that case, the notes the customers were holding are essentially worthless, which means the bank mishandled customer funds. Essentially the same thing happened to FTX when customers discovered the cryptocurrency exchange held the majority of its "value" in its own token, FTT.

SpaceX and Tesla CEO Elon Musk has commented on the current climate of the cryptocurrency space as well as the future of Bitcoin.

Following the massive collapse of the world's second-largest cryptocurrency exchange FTX, Twitter owner Elon Musk has begun to show some interest in the cryptocurrency space, first mentioning that the events of the FTX collapse are being tracked in real-time on Twitter and now commenting on Bitcoin specifically.

It was only a few days ago that Musk confirmed that former FTX CEO Sam Bankman-Fried (SBF) contacted Musk regarding his bid to purchase Twitter back in March, with Musk writing on his Twitter on November 12 that he questioned if SBF actually had the $3 billion he was offering and that he "set off my bs detector".

Following the massive downfall of the world's second-largest cryptocurrency exchange, FTX, prominent figures in the cryptocurrency industry are informing asset holders to seek self-custody of their assets.

The collapse of FTX has caused ripple effects throughout the cryptocurrency market, the price of Bitcoin immediately saw a heavy hit, with the world's most valuable digital asset falling to the $15,000 range, a price that it hasn't been since November 2020. This massive decline in price came after confidence was completely lost in FTX as it was discovered the cryptocurrency exchange was mishandling users' funds.

The stake was further driven home for FTX users when it's now former CEO Sam Bankman-Fried (SBF) announced that the company has filed for bankruptcy. With the collapse of FTX came major concern about the stability of other cryptocurrency exchanges such as Binance, Kraken, and the many more that are out there holding thousands of user funds.

In response to the downfall of the second-largest cryptocurrency exchange FTX, Binance, the world's largest cryptocurrency exchange, has made a new pledge to its users.

According to Binance co-founder and CEO Changpeng Zhao, the cryptocurrency platform will be working toward being more transparent about its cash reserves and what assets its wealth is stored in. A report from Bloomberg revealed that Binance holds approximately $74.7 billion across several different assets, with 40% of its total reserves being in its own native cryptocurrency and stablecoin - Binance USD (BUSD) holdings $23 billion and Binancecoin holdings being $6.4 billion.

The cryptocurrency exchange also holds about 10.5% and 9.8% of its total reserves in Bitcoin and Ethereum, respectively. The announcement from Binance's CEO comes only days after rival cryptocurrency exchange FTX filed bankruptcy over the crashing of its native token FTT which was caused by Binance selling off large portions of its holdings. The sales caused FTX's token value to plummet, which caused more market panic among holders, further amplifying the selling pressure. This mass panic led to FTX having to pause withdrawals from the exchange.