Business

South Korea to deploy cryptocurrency tracking system in 2023

[ad_1] The Ministry of Justice in South Korea announced plans to introduce a crypto tracking system to counter money laundering initiatives and recover funds linked to criminal activities.The ‘Virtual Currency Tracking System’ will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance, according to local media outlet khgames.The South Korean Ministry of Justice will introduce a "cryptocurrency tracking
BLOCKCHAIN

Yuga Labs co-founder to take leave of absence due to health reasons

[ad_1] Nonfungible token (NFT) entrepreneur Wylie Aronow of Yuga Labs — the team behind Bored Ape Yacht Club (BAYC) and CryptoPunks — will be taking a leave of absence from the office to manage a host of heart failure symptoms.In a Jan. 28 Twitter post to his 144,900 followers, Aronow said the tough decision to step away came on the back of a heart failure diagnosis after experiencing a myriad
BLOCKCHAIN

FTX creditors list, BlockFi $1.2B exposure and new Celsius token…

[ad_1] Top Stories This Week FTX creditor list shows airlines, charities and tech firms caught in collapse The complete list of creditors owed money by the bankrupt cryptocurrency exchange FTX has been released, revealing a wide range of global companies. Among the potential creditors are airlines, hotels, charities, banks, venture capital companies, media outlets and crypto companies, along with United States and international government agencies. According to another headline regarding
Business

Core Scientific files motion to sell over $6M in Bitmain coupons

[ad_1] Bankrupt Bitcoin (BTC) mining firm Core Scientific filed on Jan. 25 an emergency motion seeking to sell Bitmain coupons worth $6.6 million, according to court records.As per the filing, some conditions applied to the coupons make them useless for Core Scientific's business. Specifically, the coupons can "only be used to pay 30% of any new order of S19 Miners from Bitmain, and cannot be exchanged with Bitmain for cash."The
Business

Sam Bankman-Fried seeks to access FTX funds

[ad_1] Sam Bankman-Fried's legal team is seeking to remove a bail condition that prevented him from accessing FTX's funds, according to court filings from Jan. 28.A letter from Bankman-Fried's lawyer, Mark Cohen, to United States District Court Judge Lewis Kaplan stated that Bankman-Fried should have access to assets held by FTX, claiming the client was not involved in previous unauthorized transactions.FTX and FTX US have sought over $659 million in
Business

Genesis Capital’s fall might transform crypto lending — not bury it

[ad_1] Is crypto lending dead, or does it just need better execution? That’s a question asked with more urgency in the wake of Genesis Global Capital Jan. 19 bankruptcy filing. That, in turn, followed the demise of other prominent crypto lenders, including Celsius Network and Voyager Digital in July 2022, and BlockFi, which filed for Chapter 11 bankruptcy protection in late November 2022.Unlike many traditional creditors, like banks, cryptocurrency lenders
Business

US gov’t $1.5T debt interest will be equal 3X Bitcoin market cap in 2023

[ad_1] Commentators believe that Bitcoin (BTC) bulls do not need to wait long for the United States to start printing money again.The latest analysis of U.S. macroeconomic data has led one market strategist to predict quantitative tightening (QT) ending to avoid a “catastrophic debt crisis.”Analyst: Fed will have “no choice” with rate cutsThe U.S. Federal Reserve continues to remove liquidity from the financial system to fight inflation, reversing years of
Business

IRS reminds taxpayers of crypto income reporting ahead of 2022 filing

[ad_1] With the deadline approaching for filing the 2022 federal income tax return, the Internal Revenue Service (IRS) — an enforcement agency of U.S. federal tax laws — released a list of reporting requirements for the general public dealing with cryptocurrencies.Until 2021, the IRS used the term ‘virtual currencies’ in income tax-related reporting forms, which have been updated to ‘digital assets.’ All US citizens must answer questions about cryptocurrencies “regardless
BUY/SELL

Bitcoin ‘so bullish’ at $23K as analyst reveals new BTC price metrics

[ad_1] Bitcoin (BTC) remains firmly “bullish” at $23,000, according to new on-chain metrics from one of the industry’s best-known names.In a preview on Jan. 28, market cyclist and on-chain analyst Cole Garner revealed what he said were “backtested and validated” Bitcoin trading tools.Garner: BTC price signals should excite bullsWhile BTC/USD attempts to push through liquidity above $23,000, the debate rages as to whether a significant BTC price correction is due.For
Bitcoin News

Crypto Predictions for 2023: Why Orbeon Protocol (ORBN), Algorand (ALGO) and Nervos Network (CKB) Will Shine

[ad_1] Advertisment As the crypto market stands now, the top crypto predictions for 2023, focusing on three projects that we believe will shine: Orbeon Protocol (ORBN), Algorand (ALGO) and Nervos Network (CKB). With Orbeon Protocol (ORBN) nearly sold out during the presale round, Algorand’s (ALGO) unique consensus algorithm and Nervos Network’s (CKB) focus on blockchain infrastructure, we believe these three projects will be significant forces in the crypto space. >>BUY