Crypto firm Gemini sues DCG after conflict over unit’s restructuring deal

Crypto firm Gemini sues DCG after conflict over unit’s restructuring deal

 Cryptocurrency firm Gemini, the largest creditor of bankrupt crypto lending firm Genesis, sued Digital Currency Group (DCG) and its CEO on Friday after a dispute over a restructuring deal for the venture capital firm’s troubled unit. DCG and Gemini, the two most prominent players in the crypto industry, have clashed several times over the past…

Dodge Durango, Jeep SUVs push Stellantis second-quarter sales up 6.4%

Dodge Durango, Jeep SUVs push Stellantis second-quarter sales up 6.4%

Increased sales of the Chrysler Pacifica minivan and Jeep Compass and Dodge Durango SUVs pushed Stellantis’ second-quarter U.S. new vehicle sales up 6.4% from a year earlier. Stellantis’ sales increase is expected to be among the lowest of the second quarter, according to auto industry forecasters who project industry sales to have increased 16% to…

ECB Executive Fabio Panetta: Cryptocurrencies Hold No Societal Benefits, Likens to Gambling

ECB Executive Fabio Panetta: Cryptocurrencies Hold No Societal Benefits, Likens to Gambling

Cryptocurrencies hold “no societal benefits,” and should instead be seen as a form of gambling, according to European Central Bank (ECB) board member Fabio Panetta. In a speech held at the Bank for International Settlements (BIS) last week, Panetta argued that cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), fail to serve any meaningful purpose in society. He also made it clear that…

Today in Crypto: Prosecutors Impose Travel Ban on Haru Execs, US Retailers Hit with Bomb Threats & Bitcoin Demands, Gemini Allows Withdrawals for Voyager Users

Today in Crypto: Prosecutors Impose Travel Ban on Haru Execs, US Retailers Hit with Bomb Threats & Bitcoin Demands, Gemini Allows Withdrawals for Voyager Users

Legal news Prosecutors banned key officials from Haru Investment, Delio, and B&S Holdings from leaving South Korea in connection with “the criminal complaint of digital asset managers for “serial suspending withdrawals” fraud,” Digital Asset reported. The ban has been imposed as a preemptive measure to prevent the executives from leaving the country, while the Seoul Southern District Prosecutors’ Office allegedly investigates a…

2020 Twitter Hack Mastermind Gets Five-Year Sentence for Crypto Theft

2020 Twitter Hack Mastermind Gets Five-Year Sentence for Crypto Theft

A culprit in the infamous 2020 Twitter hack who phished thousands of dollars in Bitcoin from Twitter users has been sentenced to five years in prison for his crime, as well as for a separate SIM swapping scheme. During the sentencing in the U.S. District Court for the Southern District of New York on Friday,…

Volatility Shares Trust Seeks SEC Approval for Leveraged Bitcoin Futures ETF

A new exchange-traded fund (ETF) backed by Bitcoin (BTC) futures and with 2x leverage is set to go live on Tuesday after the Securities and Exchange Commission (SEC) appears to have given the greenlight. The ETF, sponsored by Volatility Shares Trust, will be listed on the CBOE BZX Exchange under the ticker BITX, according to an SEC filing….

Sam Bankman-Fried Shot Crypto MasterClass Prior to FTX Collapse

Sam Bankman-Fried Shot Crypto MasterClass Prior to FTX Collapse

Disgraced crypto boss Sam Bankman-Fried had shot a tutorial video on cryptocurrency for MasterClass, a platform that offers courses taught by celebrity experts. The video, made last summer, was not included with other lessons presented by crypto and blockchain experts that MasterClass announced in December last year following FTX’s collapse in November. Bankman-Fried’s MasterClass was apparently scrapped after it…

Crypto Community Divided over BlackRock’s Recent Bitcoin ETF Application

Crypto Community Divided over BlackRock’s Recent Bitcoin ETF Application

Asset management giant BlackRock’s recent application to launch a Bitcoin exchange-traded fund (ETF) has stirred a debate within the crypto community, with mixed reactions and concerns about the involvement of traditional financial giants in the industry. The world’s largest asset manager’s move to enter the crypto space is seen by many as a significant validation for the…

Bitcoin Mining Operation for Pool Heating Sparks Debate at NYC Spa

Bitcoin Mining Operation for Pool Heating Sparks Debate at NYC Spa

A Brooklyn-based bathhouse and spa has sparked debate after it revealed it was operating a small-scale Bitcoin (BTC) mining operation that heats its swimming pools. In a Wednesday Instagram post, Bathhouse revealed that its pools are heated with byproduct energy from Bitcoin mining. The bathhouse uses the heat generated from Bitcoin mining rigs, hardware systems that execute the Bitcoin network’s…

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