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AI Could Detect Money Laundering on Bitcoin Blockchain: Elliptic Report

Researchers from blockchain forensic firm Elliptic, IBM Watson and MIT have together made advances in using artificial intelligence (AI) to identify money laundering on the Bitcoin blockchain. A recent report released Wednesday by Elliptic revealed that the researchers used deep learning model...

, by Sujha Sundararajan

Crypto Exchange Patricia’s CEO Denies Closure Rumors – Here’s The Latest

Patricia Exchange's CEO Fejiro Hanu has refuted rumors that Nigeria's first crypto exchange will close down.

, by Hassan Shittu

Inflation Is ‘Huge Danger’ as the US Government ‘Overdid It a Little’ – Charlie Munger

While Berkshire Hathaway’s Vice Chairman Charlie Munger continues to voice his usual criticism of crypto, he also warns that inflation "is a very serious subject, you could argue it is the way democracies die" and "a huge danger."He was speaking during an interview with Yahoo...

, by Jaroslaw Adamowski

Iran and Russia Working on Bilateral CBDC-powered Trade Solutions

Iran and Russia are working on CBDC and “digital financial asset” (DFA)-powered trade solutions, an Iranian official has confirmed. Speaking to the Russian media outlet Izvestia, Rahimi Mohsen, the trade attaché of the Iranian Embassy in Russia, said that “nations”...

, by Tim Alper

UK Lawmaker Pushes for Rethink on Retail Crypto ETP Ban

Alun Cairns, a Conservative UK Member of Parliament, called on the Financial Conduct Authority (FCA) to reconsider its ban on crypto exchange-traded products (ETPs) for retail investors. In a Politics.co.uk op-ed published Thursday, he raised concerns that the country is falling behind. The UK...

, by Shalini Nagarajan

Former FTX Europe Head Sets Record with $1.5M Purchase of Titanic’s Richest Passenger’s Gold Pocket Watch

Patrick Gruhn, the former head of FTX Europe, has acquired a gold pocket watch from the Titanic for nearly $1.5 million.

, by Ruholamin Haqshanas

TOKEN2049 Day 2 Recap: Branching Crypto Cap, Uniting L2s, Tokenizing Staking and More

At TOKEN2049, industry insiders discussed decentralized AI, DePIN, RWAs, incoming regulations, and much more with Cryptonews' Matt Zahab.

, by Sead Fadilpašić

Ukrainian Cybercriminal “Rabotnik” Sentenced to 13 Years for Orchestrating $700M Worth of Ransomware Attacks

Yaroslav Vasinskyi, a Ukrainian national known as "Rabotnik," has been sentenced to 13 years in prison for his role in ransomware attacks.

, by Ruholamin Haqshanas

Riot Platforms Reports $211.8M Q1 2024 Net Income, Falls Short of Revenue Expectations

Bitcoin mining firm Riot Platforms has announced a remarkable net income of $211.8 million for the first quarter of 2024.

, by Ruholamin Haqshanas

UK FCA Dedicated 30% of Financial Crime Personnel to Monitor Crypto Companies in 2023

The UK’s financial watchdog dedicated nearly a third (30%) of its financial crime specialists to overseeing crypto asset businesses in 2023, according to a report released on May 1. The Financial Conduct Authority (FCA) said it conducted risk assessments across various sectors and...

, by Shalini Nagarajan

Volta Raises $4.1 Million in Seed Funding For Institutional Platform

Volta has raised $4.1 million in seed funding to develop a crypto platform for institutional investors. According to a press release shared with Cryptonews.com, the funding round was led by Fika Ventures and Haven Ventures. Other participants included Soma Capital, Dispersion Capital, and...

, by Hongji Feng

BlackRock’s IBIT Experiences $37M Outflows for First Time, Other Funds See Combined $526.8M Withdrawals

The spot Bitcoin ETFs in the US have witnessed record net outflows, with BlackRock's IBIT experiencing its first-ever day of outflows.

, by Ruholamin Haqshanas

Hong Kong’s ZA Bank to Roll Out Virtual Asset Retail Services as New Regulations Approach

Hong Kong’s ZA Bank, a unit of China's ZhongAn Online P&C Insurance, is reportedly exploring ways to offer virtual asset-related services after new regulations for digital assets launch in June. To establish itself as a crypto hub, Hong Kong implemented a new regulatory framework for...

, by Shalini Nagarajan

Tether Holdings Reports Record $4.52 Billion Net Profit in Q1 2024 for USDT Stablecoin

Tether Holdings, the issuer of the world's largest stablecoin, Tether (USDT), has reported a record net profit of $4.52 billion in the first quarter of 2024, marking a significant achievement for the company.According to the report, the substantial profit was primarily attributed to the firm's...

, by Hassan Shittu

Jack Dorsey’s Block’s Crypto Unit Under Investigation Over Compliance Practices: Report

Federal prosecutors have launched an investigation into Block, the financial technology company co-founded by Twitter's Jack Dorsey. The investigation focuses on alleged compliance lapses at its central units, Square and Cash App. Sources with direct knowledge of the matter revealed that...

, by Hassan Shittu

US Lawmakers Introduce New Bill For Clarification on Taxation of Staking Rewards

Two bipartisan U.S. lawmakers, Representatives Drew Ferguson and Wiley Nickel, have proposed the Providing Tax Clarity for Digital Assets Act to address taxation issues related to block rewards earned by crypto miners. The bill aims to clarify the tax treatment of staking rewards, proposing...

, by Hassan Shittu

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