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Telegram releases official statement on the arrest of founder Pavel Durov

Aug 26, 20246130 Views

Aug 26, 2024

Telegram has released its first official statement regarding the arrest of its CEO, Pavel Durov. "It is still unclear what charges Durov is facing or whether he has been arrested. There are various reports that he may have been arrested due to the lack of management on the Telegram platform, but the facts are still unclear as there has been no official confirmation from the French government or further explanation from Telegram," the statement read. "Telegram CEO Pavel Durov has nothing to hide and travels frequently in Europe."

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Former Heartland Tri-State Bank CEO Sentenced to More Than 24 Years in Prison for $47 Million Cryptocurrency Scam

Aug 26, 20248738 Views

Aug 26, 2024

Former CEO of Heartland Tri-State Bank, Shan Hanes, has been sentenced to 293 months of federal imprisonment for his involvement in a $47 million cryptocurrency fraud case. Court documents show that Hanes executed 11 unauthorized wire transfers between May and July 2023, transferring $47.1 million of the bank's funds to a cryptocurrency wallet as part of a scheme known as the "Piggyback Plan," which involved luring unsuspecting investors into fraudulent digital asset investments. Special Agent Justin R. Bundy announced Hanes' sentencing for his involvement in the embezzlement scheme, which ultimately led to the collapse of Heartland Tri-State Bank.

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Jupiter launches Jupiter Lock, a solution for projects to gradually release their tokens for free

Aug 24, 202410773 Views

Aug 24, 2024

Solana ecosystem trading aggregator Jupiter announced on X platform that Jupiter Lock, an open-source, free, and audited alternative solution, allows any project to gradually release its tokens for free over time. It has now entered the beta testing phase. On the locking page, you can browse the detailed breakdown of all tokens, their ownership schedule, recipients, and funding purposes. It brings certainty to holders and helps achieve consistency in long-term goals. The entire operation is transparent.

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Analyst: Powell did not stop betting on 50 basis points in September

Aug 24, 202415010 Views

Aug 24, 2024

Analyst Anna Wong said that in our opinion, Powell's statement sounded quite dovish. So far, he has not stopped the bet on a 50 basis point rate cut in September, has not indicated that rate cuts should be gradual, and has not used the phrase "methodical" like his colleagues to describe possible rate cut paths.

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Bitcoin Price Rises as Fed Chairman Signals Rate Cuts

Aug 24, 20246015 Views

Aug 24, 2024

Federal Reserve Chairman Jerome Powell's announcement of rate cuts in the coming months has led to a rise in the price of Bitcoin, which briefly surpassed $62,000. Powell stated that the central bank is pleased with cooling inflation but is more attentive to growing weakness in the labor market. Ethereum and Solana also saw price increases of 2.7% and 2.1%, respectively. Traders are confident that the Fed will ease up in its inflation fight, with a 67% chance of a 0.25% rate cut in September according to CME Fedwatch. This is a developing story and will be updated with additional details.

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Fed's Harker: We need to start cutting rates

Aug 24, 202411679 Views

Aug 24, 2024

Harker of the Federal Reserve said that we need to start cutting interest rates. This process should continue to move forward.

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WazirX: Indian rupee withdrawals to be enabled in phases starting August 26

Aug 24, 202412004 Views

Aug 24, 2024

WazirX has issued an important announcement regarding the next steps for Indian rupee and cryptocurrency withdrawals. For cryptocurrency balances, users will not be able to withdraw cryptocurrency from their platform accounts for a period of time due to network attacks and a large amount of balance loss caused by ERC-20 token theft. WazirX does not have enough token assets to repay the debt generated by the platform users' owed token balances. Subsequently, a bankruptcy restructuring application will be submitted to the Singapore High Court in order to obtain fair distribution of cryptocurrency assets according to the bankruptcy plan and user approval.For Indian rupee balances, WazirX will lift the suspension on INR balance withdrawals on August 26, 2024, and will gradually enable INR withdrawal functions. WazirX will reduce the withdrawal fee by 60%, from 25 rupees to 10 rupees.

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Agency: Powell acknowledges Fed's growing concerns about job market

Aug 24, 20246452 Views

Aug 24, 2024

Karl Schamotta, chief market strategist at forex company Corpay, said that the key sentence in Powell's speech was that they will "make every effort to support a strong labor market while making further progress in price stability." In my opinion, this does indicate that Powell acknowledges the increasing concerns of policymakers about the direction of the labor market. Powell did not mention the possibility of a 50 basis point rate cut in September, which to some extent also aligns with market expectations.

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Justin Sun responds to the withdrawal of BTC collateral from USDD: USDD does not belong to anyone

Aug 24, 202415198 Views

Aug 24, 2024

The Block's report on Sun Yuchen's withdrawal of BTC collateral from USDD, Sun Yuchen responded on Platform X: "USDD is a decentralized stablecoin protocol that has nothing to do with anyone's name, just like Satoshi Nakamoto created Bitcoin, but Bitcoin does not belong to Satoshi Nakamoto." Earlier, Tron DAO Reserve withdrew about $750 million worth of Bitcoin on Wednesday, which was previously used to support the USDD stablecoin. Tron founder Justin Sun said users don't need to worry and explained that this move was to improve capital efficiency, as the previous long-term collateralization rate for USDD exceeded 300%.

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Data: El Salvador currently holds 5,851 BTC

Aug 24, 20246892 Views

Aug 24, 2024

March, El Salvador has purchased 162 bitcoins and currently holds 5,851 BTC.

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