Chinese authorities bust $5.6bn crypto money laundering ring

China continues to crack down on various cryptocurrency operations. Most recently, the Chinese province of Hunan saw 93 people arrested for laundering up to $5.6bn using cryptocurrencies. China suspended all cryptocurrency operations a few years back and prohibited all cryptocurrency mining, causing an exodus of companies who sought cheap electricity elsewhere, including Kazakhstan. However, many […]

Thai SEC to sue three offenders for wash trading

Thailand’s Securities and Exchange Commission (SEC) has sued three culprits for creating artificial volume on crypto exchanges Bitkub and Satang Corporation. The Thai regulator issued civil sanctions to Bitkub Online Company Limited, Anurak Chuachai, and Sakon Srakawee. The three offenders have been accused of generating fake volumes of digital assets in Bitkub digital asset exchange […]

FTX wins Voyager Digital auction bid

FTX has won insolvent crypto lender Voyager’s auction bid for $1.4bn. Bankrupt Voyager Digital has announced that crypto exchange FTX through its subsidiary FTX US has won the bid for its assets. The two-week auction process of Voyager’s cryptocurrencies valued at $1.311bn came to an end and sold for $1.422bn comprising an additional consideration worth […]

pocket network: Pocket Network upgrades its portal service

Synopsis This will give access to blockchain information across any of the several blockchains supported by Pocket. ‘Pay-as-you-go’ (PAYG) and ‘Always Free’ tiers are part of the recently customised Pocket Portal service plans. Decentralised web3.0 infrastructure protocol Pocket Network has announced an upgrade to its Pocket Portal service, which would enable web3.0 developers to create […]

New England Patriots land Web 3.0 sponsor

New England Patriots owner Kraft Sports and Entertainment has agreed a new long-term deal with Web 3.0 experts Chain. The agreement names the software solutions company as the Patriots official blockchain and Web 3.0 sponsor of the National Football League (NFL) side. As well as the Patriots, the deal also covers New England Revolution, the […]

Coinbase faces $350m lawsuit by Veritaseum

Coinbase Global has been hit with a patent infringement lawsuit by Veritaseum Capital LCC. The plaintiff alleges that the company has infringed a patent that was awarded to Reggie Middleton, the founder of Veritaseum, triggering legal proceedings. Veritaseum’s version is that some of the company’s blockchain infrastructure is in fact based on Middleton’s patent and […]

Compute North files for bankruptcy

Crypto mining data centre Compute North has filed for bankruptcy amid the ongoing crypto winter. The Minnesota-based crypto firm has become the next in line to fall under the wrath of the bear market and has filed for voluntary Chapter 11 bankruptcy in the US Bankruptcy Court for the Southern District of Texas. Compute North […]