Nishad Singh, the co-founder and former chief engineer of bankrupt crypto exchange FTX, is working on a plea deal with prosecutors, Bloomberg reported on Feb. 17. The deal, which would see the 27-year-old Singh plead guilty to charges related to FTX’s collapse, has yet to be finalized, the report said. Singh would be following in the footsteps of former FTX chief […]

Crypto lending platform MakerDAO is voting on a new proposal to bring another commercial bank into its ecosystem, strengthening the connection between decentralized finance (DeFi) and traditional finance.  As per MakerDAO’s governance forum, Cogent Bank — a Florida-based commercial bank — is proposing to participate with $100 million in loans to MakerDAO’s RWA Master Participation Trust. The proposal is part of […]

A recent international investigative report has linked over £100 million swindled in crypto-based romance scams — oddly known as pig butchering — to fictitious companies in the UK. Pig Butchering is a systematic type of scam where unsuspecting victims are weaned for a while, to build trust and confidence before fleecing them of their hard-earned money.  How pig butchering scam […]

The U.S. Securities and Exchange Commission (SEC) has charged Terraform Labs and its CEO, Do Hyeong Kwon, with fraud, alleging that Kwon and his company orchestrated “a multibillion-dollar crypto-asset securities fraud.” The securities watchdog insists that Kwon raised billions from investors by creating an “interconnected suite of crypto-asset securities,” many of which were involved in unregistered transactions. SEC Charges Terra’s […]

Binance CEO Changpeng Zhao has denied a report that the company is considering cutting ties with United States business partners. Binance has been the object of increasing scrutiny from U.S. regulators in recent weeks. Bloomberg reported on Feb. 17 that Binance Holdings “is looking at whether to sever ties with intermediary firms such as banks and services firms and is reassessing […]

Securities and Exchange Commission (SEC) Commissioner Hester M. Peirce – who’s often dubbed the “crypto mom” thanks to her open-minded nature towards bitcoin and crypto – is calling for strict regulation of the space and says this will provide more clarity for traders and help to keep investors shielded from bad actors. Hester Peirce Says It’s Time to Regulate Crypto […]

The price of Ripple (XRP) has fallen below the low of $0.36 and entered the bearish trend zone. Long-term forecast for the Ripple price: bearish On February 15, XRP bounced back above the moving average lines as the altcoin moved back up. However, the $0.40 barrier staved off the upside move. The cryptocurrency value fell above the 50-day line yesterday […]