Author: Crypto News

Last updated: May 16, 2024 00:36 EDT | 2 min read Salim Ramji, the newly appointed CEO of Vanguard, has confirmed that the company will not reverse its decision to refrain from launching a spot Bitcoin exchange-traded fund (ETF).In a recent interview with Barron’s, Ramji, who previously headed BlackRock’s global ETF business, said Vanguard is committed to consistency, adding that cryptocurrency-related investment products do not align with the firm’s investment philosophy.Ramji expressed his support for Vanguard’s Chief Investment Officer, Greg Davis, and his explanation for the decision to avoid a Bitcoin ETF, noting that it is entirely consistent with Vanguard’s investment…

Last updated: May 15, 2024 23:00 EDT | 2 min read Two South Korean police officers are standing trial over alleged bribery in an increasingly high-profile crypto fraud case.The newspaper Namdo Ilbo reported that on May 14, the Gwangju District Court’s Criminal Division began the trial of a 59-year-old superintendent police officer.The officer is named in reports as “A” for legal reasons. The court is also trying a 57-year-old police lieutenant (“B”) from the same station. Crypto Fraud Case: South Korean Police Officers Implicated The case centers around an alleged crypto fraudster surnamed Tak. The latter is accused of orchestrating…

Last updated: May 15, 2024 22:03 EDT | 2 min read In a landmark case that has to be the first of its kind, two brothers, both graduates of the prestigious Massachusetts Institute of Technology (MIT), have been apprehended and charged with exploiting a vulnerability in the Ethereum blockchain. Their alleged actions resulted in a massive $25 million theft in 12 seconds. Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, face fraud and money laundering charges. A Well-Planned Exploit Of the Ethereum Blockchain By the Two Brothers Two Brothers Arrested for Attacking Ethereum Blockchain and Stealing $25M in Cryptocurrency 🔗: https://t.co/rY4No6YUrm pic.twitter.com/2Mlb3zIdpo — U.S.…

Last updated: May 15, 2024 20:57 EDT | 3 min read Bitcoin Price PredictionBitcoin’s price surged by 7.50% to $66,350 amid the latest U.S. inflation data release. The U.S. consumer price index (CPI) rose by 0.3% in April, down from 0.4% in March and February. This lower-than-expected increase suggests inflation is resuming its downward trend, bolstering financial market expectations for a potential interest rate cut by the Federal Reserve in September.CPI Data and Its Economic ImplicationsThe CPI data is significant as it indicates cooling inflation, which is a positive signal for the economy. The slower increase in consumer prices aligns…

Last updated: May 15, 2024 19:30 EDT | 1 min read Two Russian teenagers have been arrested in a crackdown on a suspected crypto-powered “money laundering” ring, a police source claimed on May 14.Per the news agency URA, an unnamed “law enforcement agency” member in the Khanty-Mansi Autonomous Okrug said the teenage brothers “attracted other teens” in the region to their scheme.Russian Teens Ran ‘Crypto Exchange’ with ‘Organized Crime Gang’The source claimed that some of the teens’ parents sent a “statement” to law enforcement agencies in the region in April.The parents reportedly told police officers that “an organized crime group”…

Last updated: May 15, 2024 18:46 EDT | 2 min read Paul Ryan – the 54th speaker of the United States House of Representatives – has emerged as a major proponent of stablecoins, with a bright outlook on what regulation could bring to the industry.Paul Ryan Bullish On StablecoinsIn an interview with Bloomberg on Friday, Ryan highlighted stablecoins as a potential solution to the looming US sovereign debt crisis. Public data shows that the nation is currently $34.7 trillion in debt, and is making annual interest payments of over $1 trillion. fmr speaker Paul Ryan’s comments on stablecoins on bloomberg…

Last updated: May 15, 2024 17:52 EDT | 1 min read Dogecoin Enthusiasts Switch to New VR ICO, Targeting 10x Returns / Source: Cryptonews As Dogecoin (DOGE) attempts to push to the north of a key downtrend, its enthusiasts are switching their focus to an exciting new VR ICP called 5thScape (5SCAPE) as they target 10x returns.Dogecoin jumped over 7% on Wednesday to the uppers $0.15s amid a broad post-CPI crypto and traditional financial market rally. US CPI 3.4% YoY EXPECTED 3.4% pic.twitter.com/cOwqY3Qty9 — GURGAVIN (@gurgavin) May 15, 2024At current price levels around $0.157, Dogecoin is no course to close…

Last updated: May 15, 2024 17:42 EDT | 1 min read El Salvador has launched tokenized investment offerings on the Liquid network, enabling individuals to invest in projects like a new hotel at El Salvador International Airport. El Salvador took a decisive step into tokenization on Tuesday, unveiling national investment opportunities based on Bitcoin infrastructure.El Salvador Bitcoin: Investing in DevelopmentThe nation’s National Bitcoin Office launched its blockchain-based capital raise on the Liquid network. Bitcoin-based capital markets have officially launched in El Salvador, the first country to adopt Bitcoin. Well done to the ONBTC and @BFXSecurities on this historic milestone! https://t.co/6SCPvjiunx…

Last updated: May 15, 2024 16:34 EDT | 2 min read FTX is facing controversy over its proposed repayment plan for creditors. The cryptocurrency exchange FTX went bankrupt in November 2022 after a fraud-fueled collapse, leaving its users unable to access the cryptocurrency they held. FTX announced on May 7 that customers would be repaid their holdings plus interest two years after the initial collapse, but the proposed repayment plan has sparked a backlash among creditors. The FTX repayments might offer some relief. FTX expects the total value of property collected, converted to cash and available for distribution to be…

Last updated: May 15, 2024 15:08 EDT | 1 min read Congressman Wiley Nickel criticizes SEC’s approach to crypto regulation, calling for the withdrawal of SAB121. Congressman Wiley Nickel (D-CA) has criticized SEC Chair Gary Gensler over the agency’s “open hostility” towards crypto and SAB121. Nickel sent a letter to Gensler on Wednesday urging him to rescind the controversial staff accounting bulletin amidst the Senate vote to nullify it.SEC, SAB121 Face Criticism From Rep. Wiley NickelNickel wrote, “I strongly encourage you to withdraw SAB121 to protect investors, bolster American competitiveness, and respect Congress’s role in the administrative rulemaking process.”He emphasized…