Month: December 2022

Investors Sue Gemini and Winklevoss Twins for Alleged Fraud and Exchange Act Violations

• A group of investors have filed a class-action lawsuit against Gemini and its founders Tyler and Cameron Winklevoss, accusing them of fraud and other crimes. • The lawsuit claims that Gemini offered unregistered securities in the form of interest-bearing accounts, in violation of the Exchange Act. • Gemini halted withdrawals for its interest-bearing contract …

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Paul Krugman Compares Crypto to Tesla, Questions if Tesla Story Ever Made Sense

• Nobel Laureate Paul Krugman has been critical of cryptocurrency and compared the crypto craze to the US housing market prior to its collapse. • On Tuesday, Krugman compared the crypto to Tesla and its stocks, questioning if the Tesla story ever made sense. • Tesla’s stocks have dropped 73% since January 2020, reducing the …

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Beware of Crypto Scams: 17 Crypto Websites Flagged by California DFPI

• The California Department of Financial Protection and Innovation (DFPI) has flagged 17 crypto websites and brokers for potential fraudulent practices. • The websites mentioned in the warning are Tahoe Digital Exchange, TeleTrade Options, Tony Alin Trading Firm, Hekamen Ltd./Tosal Markets Limited, Trade 1960, Yong Ying Global Investment Company Limited, Unison FX, VoyanX.com, and ZC …

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Fiji Elects Pro-Bitcoin Prime Minister, Boosting Crypto Adoption!

• Lord Fusitu’a, a Tongan noble and former member of the Tongan Parliament, announced that Fiji has elected a new prime minister, Sitiveni Rabuka, who is pro-Bitcoin • He is responsible for foreign affairs, climate change, environment, public service, information, and public enterprises • Lord Fusitu’a recommended BTC mining based on renewable energy and the …

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SEC’s Enforcement-Driven Regulatory Approach Frustrates Crypto Industry

•Legal expert Roslyn Layton is criticizing the U.S. Securities and Exchange Commission (SEC) for its questionable enforcement policy against the crypto industry and Ripple in particular. •Sandra Hanna, head of Miller & Chevalier’s Securities Enforcement Practice, explains that key crypto industry players have asked for guidance and tangible regulation, but this has not been forthcoming. …

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Crypto Forecast: Digital Assets Poised to Become Key Part of Global Economy

• QCP Capital recently published their 2023 crypto forecast, highlighting the key moments from this past year and the potential impacts going forward. • The market has experienced its worst-performing year for benchmark assets, such as Bitcoin, the S&P 500, and the Nasdaq 100, with most assets falling by over 70%. • The U.S. Federal …

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Cybercriminal Returns $3M ETH, 9.9M DAI to Defrost Finance Following Christmas Day Hack

• Defrost Finance, a DeFi protocol built on the Avalanche blockchain, recently released a blog post that revealed the funds lost in the Christmas Day hack had been returned. • The cybercriminal responsible for the attack had a change of heart, returning $3 million worth of ETH tokens and 9.9 million DAI. • The incident …

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