Category: Cryptocurrency

In this fast-paced world, many of you might have missed catching up on the top crypto news of this week. But, there’s nothing to worry about as in this edition of weekly crypto news, Coin Informer unravels the top crypto headlines. Like every other week, this week’s crypto landscape was also filled with chaos, controversies, courtroom trials, prices up and down, and more. So, without further ado, let’s start unraveling the top news in the crypto landscape this week. Crypto Royalties to Back Pro-Crypto Candidates in 2024 U.S. Elections: Top News in the Crypto World (Tuesday, December 19, 2023) There is a battle in Washington about the future of blockchain technologies: Certain policymakers believe it should be banned, while other people think it should have no guardrails. Neither of those options will allow the technology to reach its full potential and realign the future of the internet away from Big Tech to the people who use it. – Chris Dixon, Andreessen Horowitz (a16z) founder & managing director Regulatory overreach (especially from the SEC) is actively moving the U.S. in the wrong direction, and other countries are taking full advantage of the lack of U.S. leadership. We need to advance leaders who will champion innovation and spearhead paths toward responsible regulation. – Brad Garlington, Ripple CEO These statements by top crypto industry leaders come after the shocking announcement of the Fairshake Political Action Committee (PCA). This committee comprising Coinbase CEO Brian Amstrong, Circle, Andreessen Horowitz (a16z), Messari, Circle, Winklevoss, and Tyler & Cameron Winklevoss, announced that they contributed $78 million to support pro-crypto and blockchain candidates for upcoming 2024 U.S. general elections. In the past few years, the crypto industry has felt left out by the central government, and their continuous attacks on their firms and processes through the SEC have further escalated this cold war between the central government and the crypto industry. That’s why ‘The Fairshake Political Action Committee’ has to make this decision. BlackRock Filed for a Revised Spot Bitcoin ETF Proposal in a Bid to Get SEC Approval: Top News in the Crypto World (Monday, December 18, 2023) Last month, BlackRock applied for its iShares Blockchain & Tech ETF in the proposal for an in-kind redemption model. SEC closely examined the proposal by raising concerns over some topics in it, such as investor safety and market manipulation. As a result, SEC suggested BlackRock make improvements in the proposal by adding cash redemptions instead of an in-kind redemption structure. Considering this suggestion in mind, BlackRock filed a revised ETF proposal on Monday with the hope of securing a first-of-its-kind approval in the U.S. In the updated proposal, BlackRock’s Spot Bitcoin ETF will feature a cash redemption structure, as the SEC favored it most. As per insiders’ sources, BlackRock’s ETF approval can be expected in early to mind January. Bitcoin Fees Ahead of Ethereum’s for the First Time in Last Five Years: Top News in the Crypto World (Tuesday, December 19, 2023) For the first time in over five years, Bitcoin’s fees have surpassed Ethereum’s fees for the third straight day. Typically, the “Fee” refers to the transaction payout that users on the platform have to attach with each payment transfer for the miners & stakes. The reason why Bitcoin’s fees have surged by surpassing Ethereum’s has a lot to do with the platform’s traffic. Since Bitcoin’s price is stable and reaching new heights, its blockchain platform is congested, resulting in a rise in the fees. On the other side, Ethereum is struggling to make a massive price jump. Therefore, it’s obvious for Bitcoin to surpass Ethereum in terms of fees. Top Trending Assets and their Prices as of December 12, 2023 (as of 12:40 am GMT-8): Bitcoin (Price Rate: $43, 897.17, Growth in Last 24 hours: 2.47%) Ethereum (Price Rate: $2,219.31, Growth in Last 24 hours: 0.38%) Binance Coin (Price Rate: $86.38, Growth in Last 24 hours: 2.12%) Solana (Price Rate: $86.13, Growth in Last 24 hours: 12.58%) Cardano (Price Rate: $0.60347802, Growth in Last 24 hours: 2.20%) XRP (Price Rate: $0.61664330, Growth in Last 24 hours: 1.29%) Avalanche (Price Rate: $46.07, Growth in Last 24 hours: 10.25%) Stay Tuned! That’s a wrap for this week’s top news in the crypto world. The crypto landscape is ever-changing and dynamic. Like the flow of water in the perennial river, which didn’t slow down, the crypto world is also like this. Stay tuned with Coin Informer for next week’s crypto weekly news roundup. Have a happy weekend ahead!

Another week and the crypto industry is again proving why it is said to be the most dynamic and ever-evolving industry. Did you miss out on reading this week’s top crypto news? There’s nothing to worry about. We have compiled a detailed blog post to discuss the top news in the crypto industry that made noise around the globe. Without wasting much time, let’s analyze this week in cryptocurrency (December 4th – 8th, 2023). Read the top weekly crypto news under one roof. Bitcoin & Ethereum Passes $44,000 & $2,200 Marks, respectively: This Week in Cryptocurrency On Tuesday (December 5th, 2023), the crypto industry gained confidence when Bitcoin and Ethereum, two influential cryptocurrencies, breached the $44,000 and $2,200 marks, respectively. This is the best performance of both cryptocurrencies since May 2022. The Bitcoin price hike was visible on Monday morning when the leading cryptocurrency passed the $42,000 mark. But it was on Tuesday when Bitcoin surged to the $44,000 mark. Experts say the sudden growth might be due to people’s anticipation for the U.S. government’s report on the employment situation for November, which is scheduled to be out on December 8th, 2023 (Friday). Moreover, another possible reason can be the eventual approval of a Bitcoin ETF. After showing tremendous growth over the first two days of the week, Bitcoin and ETH slowed down and took a minor dip; that was obvious. (Bitcoin’s Weekly Price Index: Source – CoinDesk) (Ethereum’s Weekly Price Index: Source – CoinDesk) Experts also believe that U.S. government reports on federal reserve can help Bitcoin reach the 50,000 mark. The reason behind this is the crypto industry’s high expectation of cutting down the interest rates in 2024 through this report. If all goes well, Monday morning will be remarkable for the crypto industry, especially in the 2020s decade. Victory of Another Crypto Bill in the U.S. House of Representatives: This Week in Cryptocurrency This week, the House Committee on Energy and Commerce is in a session to discuss dozens of weeks in the U.S. The main highlight of the session was the panel’s unanimous approval of the crypto bill that would direct the U.S. Secretary of Commerce to promote the deployment, use, competitiveness, and application of blockchain technology. This comprehensive 13-page legislative bill isn’t a landmark moment that the whole crypto industry is looking for. Still, the approval of the crypto bill is at least giving confidence among crypto enthusiasts that Congress is finally becoming crypto-friendly. The statement by Ron Hammond (the Blockchain Association’s director of government relations), given in an interview, perfectly indicates the whole industry’s point of view. He says, “At least on the tech side of things, Energy and Commerce is unanimously in support, and there’s nothing partisan about it.” Is Changpang Zhao (Binance’s Ex-CEO) Finally Going Home? U.S. Court Judge Accepted the Guilty Plea: This Week in Cryptocurrency Binance has been going through a rough time for the last few weeks. On November 22nd, Binance was made to pay a $4.3 billion fine to FinCEN and OFAC as part of the decision of a case where the leading crypto exchange was found violating the U.S. Bank Secrecy Act. As a part of the conditions, Changpang Zhao stepped down as Binance CEO. Last week, the ex-CEO of Binance, moved to U.S. Court to permit him to visit UAE to meet his family. However, the Court strictly restricted him from going to the UAE before the trial ended. However, on Wednesday, things finally took a 360-degree turn. On December 6th, Richard Jones, Federal Judge of the Western District Court of Washington, accepted Zhao’s plea to return to UAE. The judge wrote, “This Court, having considered the Report and Recommendation of the United States Magistrate Judge, to which there has been no timely objection…. hereby accepts the plea of guilty of the defendant…the defendant is adjudged guilty of such offense.” U.S. Court has accepted Zhao’s plea to return his home back, however, it is yet to decide, whether Binance’s ex-CEO is retuning UAE or not. According to the recent release of Zhao’s plea, if he gets the Court’s permission to move back to his country, he must have to return the U.S. two weeks before sentencing, which is scheduled for February 23rd, 2024. Crypto Industry Discussed at Republican Presidential Debate! A Revolution in Process? This Week in Cryptocurrency Though cryptocurrencies have become an integral part of today’s digital world, politicians still show no interest in discussing or supporting the industry. But things are changing, and the revolution is very near. On Wednesday (December 7th, 2023), the Republican Presidential Debate was held in Tuscaloosa, Alabama. In the interview rounds, the crypto-related question was made towards republican leadership candidate Vivek Ramaswamy. Instead of acting delusional and confused about this question, Ramaswamy confidently answered it. The question was related to Binance CEO Changpeng Zhao being found guilty of violating money-transmitting laws. Answering the questions, the republican leader said, “Fraudsters, criminals, and terrorists have been defrauding people for a long time. Our regulations need to catch up with the current model.” He also added “The fact that SBF was able to do what he did FTX shows that whatever they have in the current framework isn’t working.” In support of his statements, he also mentions Gery Gensler. He said, “It’s nothing short of embarrassing that Gary Gensler, the SEC chair, couldn’t even confirm in front of Congress whether Ethereum is a regulated security.” After mentioning the top crypto scammers in his answer, he also shared his plan to reduce the SEC’s interference in irrelevant crypto topics. Stay Tuned! Well! That’s it for this week’s weekly crypto news roundup. It would be interesting to see if Bitcoin will reach the 50,000 mark in the future or not. Moreover, how can we forget about Zhao’s plea to return to the UAE? Let’s see, next week, what future developments the U.S. court will take in granting Zhao permission to return home. So, stay tuned with us. Coin Informer is the ultimate provider of the latest crypto

Hey you crypto enthusiasts! Have you been keeping up with the latest developments in the world of digital assets? If you have been eagerly waiting for the updates surrounding Binance CEO Changpeng Zhao, the wait is over! We have collected some important follow ups in the issue that will intrigue you by the end of this article. So, buckle up buddy, because we will dive into the fascinating twist and turns that has happened in the Binance world. The Legal Mystery: Changpeg Stuck in the U.S. Binance founder Changpeg, mostly referred as “CZ” Zhao finds himself in a legal battle with a federal judge deliberating on whether he can return to the UAE. Moreover, despite a guilty plea for violating the Bank Secrecy Act and his resignation as CEO CZ’s plans to reunite with his family in the U.S. Department of justice argues that his immense wealth and the absence of an extradition treaty with the UAE pose flight risk concerns. CZ’s attorney counter, emphasizing his commitment to responsibility by pleading guilty.  “I am eager to jump headfirst into my new role. I know there will be many more opportunities for me to share my thoughts with the community”. Richard Teng, Binance’s new CEO Binance’s Transformation: New Leader, New Vision As CZ steps down, Binance’s recently appointed CEO, Richard Teng, takes the stage. Teng presents his expansion plan for the cryptocurrency exchange. His plan reassures customers that Binance would continue to prioritise the needs of its users and actively promote Web3 adoption. Although there are still unknowns on how to handle the fallout from the US settlement. However, early signs point to a steady transition with no evidence of a mass fund flight. The CEO of Coinbase: Closing the Chapter on Crypto’s Troubled History The CEO of Coinbase, Brian Armstrong, sees the historic settlement against Binance as a chance for the cryptocurrency sector to move past its difficult history. He rejects the idea that cryptocurrency is primarily utilised for illegal activity by highlighting the significance of regulatory clarity in luring more institutional investment. “The enforcement action against Binance, that’s allowing us to kind of turn the page on that and hopefully close that chapter of history.” – Coinbase CEO Brian Armstrong Binance’s Corporate Evolution: Embracing Transparency With Richard Teng at the helm, Binance is undergoing a transformative shift toward a more traditional corporate structure. This move aims to bring transparency to the board of directors, office addresses, and financial standing. Teng, drawing on his regulatory expertise, envisions Binance becoming a leading crypto platform for regulatory compliance. This is a significant departure from its decentralized roots. “We have robust timelines, and you will see Binance evolving into a conventional corporate structure in due course.” – Richard Teng, Binance CEO Uncertainty Surrounding BNB: A Crypto Rollercoaster As Binance shifts its focus towards regulatory compliance, the future of its native coin, BNB, remains uncertain. Once a cornerstone of Binance’s offerings, the cryptocurrency has witnessed a decline in market value and a decrease in promotional activities. Questions loom over the fate of BNB as Binance navigates its regulatory obligations and strives for institutional acceptance. “We are in a transition phase. The decisions regarding BNB’s role will be made with a strategic, long-term perspective.” – Richard Teng, Binance CEO Conclusion: The saga of Binance and its CEO, Changpeng Zhao, has taken center stage. From legal challenges and leadership transitions to a shift in corporate structure, the journey unfolds with twists and turns. As we wait the next chapter, one thing is clear – the crypto industry is in the midst of transformation, and Binance is at the forefront of this evolution. For more real-time updates on the fascinating world of cryptocurrencies, stay tuned to Coin Informer. Whether you’re a seasoned trader or a curious newcomer, our platform is your go-to source for all things crypto. Don’t miss out on the latest developments – dive into the crypto universe with Coin Informer! Ready for more crypto insights? Explore the latest updates and trends on Coin Informer.

For the past few days, there’s been a lot going on in the crypto market. Are you feeling too lazy to read every article to find top crypto news? There’s no need to do that. Read this weekly crypto news blog post to make yourself aware of all top updates. FTX Transferred $19 Million Worth of Crypto Tokens to Different Exchanges Before Bankman’s criminal court on Thursday afternoon, bankrupt crypto exchange FTX moved $19 million worth of crypto to different exchanges. Blockchain data revealed this info on October 27th, 2023. As per Lookonchain tweet and Arkham Intelligence data, this amount of different tokens bid farewell to FTX wallets 253,862 $LINK (Worth $2.67M) 1.59M $AGLD (Worth $1.34M) 469,587 $SOL (Worth $15.2M): Out of this, 250K $SOL (Worth $8.1M) was transferred to exchanges, 170K $SOL ($5.5M) to Binance, and 80K $SOL ($2.6M) to Coinbase In total, approximately $19 Million worth of crypto tokens was transferred. The transfer was made as the U.S. Bankruptcy Court gave permission to FTX to sell or stake its remaining digital asset stash last month. This news started trending a few hours before SBF’s criminal court trial. To get detailed insights into this highly publicized court trial, click here: Ripple’s Price Going to Surge, XRP Going to Make History on November 8-9? A few days ago, the crypto landscape was singing the songs of joy and happiness as one prominent member and price analyst of the XRP community posted one tweet. With over 57K followers on X (formerly Twitter), XRP Caption tweets, Save the Date #XRP Could Make History on This Date Alongside this caption, XRP Caption posted a screenshot indicating the Ripple Swell Event scheduled for Nov 8th and 9th. The tweet went viral in a few hours, resulting in excitement among crypto enthusiasts as a caption under the image indicates the hints that XRP’s price is going to surge on Nov 8th and 9th. The chances are pretty high, as the event will be held in Dubai for the first time an in-person conference. For the past three years, the event has been held virtually due to the COVID-19 pandemic. But, this time, it looks grand and epic as representatives of over 40 countries will present at the conference. So, crypto investors should start counting the days until November 8th, as XRP can make history on this date. 15th Anniversary of Bitcoin’s Whitepaper, Joël Lightbound & Gary Gensler Congratulates On October 31st, 2008, the financial landscape was revolutionized with the debut of a nine-page document of Bitcoin Whitepaper. This seminal document marked the beginning of the new chapter of decentralized digital currency that later redefined the financial world. What a coincidence it is; Bitcoin is celebrating its 15th anniversary, and recently, its prices reached a new high, soaring over $35,000K, ending the dull phase of the digital currency. The impact of Bitcoin on the financial landscape is unmeasurable, and that’s why many prominent personalities gave warm statements about leading digital currencies. Joël Lightbound, the Canadian Member of Parliament, celebrated Bitcoin’s 15th anniversary in his speech. Moreover, Gary Gensler (SEC’s chairman) commemorates Bitcoin’s 15th anniversary by posting a tweet on X. DOJ Arrests SafeMoon’s CEO and CTO on Money Laundering Charges, SEC Made Serious Allegations On November 1st, the crypto world woke up to new drama. This time, it is no FTX or Binance; it’s SafeMoon. This newly emerged cryptocurrency was launched in 2021, and within two years, SafeMoon got involved in big criminal drama. The US DOJ (Department of Justice) arrested SafeMoon’s CEO and CTO (Chief Technology Office) for withdrawing over $200M from funds to buy luxury cars and homes. According to the regulator, SafeMoon’s team told investors that their funds had been locked, but in reality, they were misusing their capital. Within hours of the news going viral, the SFM token’s prices fell more than 30%. Moreover, the SEC also entered the scene by charging SafeMoon’s CEO and CTO for violating securities (unregistered sale of the crypto assets). Furthermore, the SEC also highlighted that SafeMoon illegally made large purchases of their tokens to manipulate the market. PayPal Successfully Registered with FCA in the U.K., but its Services are Still Restricted On October 31st, PayPal (a renowned payment giant) successfully registered with the FCA (Financial Conduct Authority) to provide crypto services in the U.K. Despite getting registered successfully, PayPal is restricted from launching its crypto services, DeFi activities, and ICO services in the U.K. This registered but still restricted drama is no new to crypto landscape as FCA’s crypto regulations and laws are so challenging for crypto firms to fulfill. That’s a reason many big crypto companies, including Binance, made an exit from the country. Price Predictions: Dogecoin 2200% Breakout Nearby? A crypto analyst, Ali Martinez, posted an analysis of Dogecoin on X (formerly Twitter), indicating a 2200% breakout for the renowned meme coin. Will Solana’s Price Surge to $50? In the past few days, Solana’s price has skyrocketed with a growth of 134%, leaping from $17.4 to $41 currently. Analysts are predicting Solana’s price to further reach $50. 1300% XRP Price Breakout Nearby? The XRP’s prices are also predicted to rise further with a 1300% breakout as the Ripple Swell Event is going to be organized on Nov 8th – 9th. Bitcoin’s Price to Reach $43,000? Currently, BTC is trading at $35,112, and many predictions have been made for Bitcoin to reach $43,000 by November 6th. Stay Tuned for Further Crypto Updates! All! Crypto enthusiast. Read our weekly crypto news blogs to stay up-to-date with the digital landscape. At the end of every week, we publish detailed blog posts discussing top crypto headlines that have made loud noise worldwide. As a part of our weekly edition, these blog posts are meant to provide you with brief information in an easy manner. Coin Informer is dedicated to publishing informative news blogs to make you aware of the recent updates in the crypto market. So, connect with Coin Informer to get top crypto news.

Are you also wondering about the strange upward trends in Crypto prices? Well? This is the thing that everybody wants to know. You know what the reasons are! Well, we are here to save you the trouble. In this blog post, you are going to learn about the reasons behind the rising prices in the Crypto Market. We will cover the major Cryptocurrencies, such as Bitcoin, that have recently breached the $34,000 mark for the first time since May 2022, registering a substantial 20% gain in just the past five days. So, whether you are a seasoned Crypto trader or someone who is just curious about the Crypto world, this guide will offer you the latest updates and valuable insights into the forces propelling the ongoing price surge in the crypto market. Notable Crypto prices of Cryptocurrencies Taking the Spotlight: Let’s first take a closer look at the selection of both established and emerging Cryptocurrencies that have been making headlines these days. Bitcoin: As you already know, Bitcoin has been trending lately. Its value has doubled this year. Moreover, the people are excited, as there is a possibility that Bitcoin ETFs will become available on mainstream stock exchange platforms. ApeMax: It is a popular boost-to-earn cryptocurrency. It seamlessly integrates the Web3 environment with its captivating features. There is also an ApeMax presale where people can buy it before it’s widely available. Ethereum: It is a digital platform that supports smart contracts and decentralized applications (DApps). It serves as a foundation for many blockchain utilities and tokens. Influential Factors Behind the Rising Crypto Prices: Several key factors and developments in the Crypto Prices have captured the attention of traders. It points towards the potential growth in the market: Bitcoin: Bitcoin ETFs: The speculation around Bitcoin ETF, especially the one proposed by BlackRock, has made everyone excited. As Blackrock is a big name, this company deals with ETFs worldwide. Recent reports have indicated that BlackRock’s Bitcoin ETF is being considered by a group that handles stocks and ETFs, which is part of Nasdaq. While this doesn’t guarantee that it will happen, it’s a sign they’re getting ready for it. Moreover, Other companies like Grayscale Investments are also trying to get approval for Bitcoin ETFs. Some recent legal decisions, the ones in which courts disagreed with the SEC, have made people in the crypto world happy. People are eagerly waiting to see what happens next. Diversification Amid Uncertainty: Another reason why Bitcoin is doing so well is because the beginners always invest in bitcoin. Moreover, they also had enough of uncertainties in traditional markets such as stocks and bonds. Therefore, they see Bitcoin as the safest medium to start their crypto journey. ApeMax: The star of the show: As mentioned earlier in the above paragraph, this emerging is becoming popular day by day. Due to its innovative “Boost-to-Earn” mechanism, the people who own the coin can earn rewards by staking or boosting it. Therefore, it is easy to use and fun, which is the reason that it is so favorable among crypto beginners. Why ApeMax is Captivating Attention: Several factors contribute to the growing interest in ApeMax: ApeMax is the pioneering boost-to-earn cryptocurrency. A rapidly expanding presale. Opportunities for holders to earn through boost staking. Transparent and well-defined tokenomics. A unique and engaging cryptocurrency. Indicators of a Thriving Crypto Market: Bitcoin ETFs and Market Dynamics: People are really excited about the idea of Bitcoin ETFs, and this excitement has made the price of Bitcoin go up by more than 25% in the last two weeks. These ETFs could make it easier for regular investors to get into Bitcoin, like a bridge between regular investments and cryptocurrencies. If these ETFs become a reality, they might make more people want Bitcoin, which could affect its price. In a Nutshell: Before you start investing in cryptocurrencies, it’s really important to do your homework about the Crypto Prices and be careful. Cryptocurrencies can go up and down a lot, and they have their own set of risks. You need to understand how much risk you can handle. Also, keep in mind that if you live in certain places like the United States, Canada, or some other countries with restrictions, you might not be able to get ApeMax. Check ApeMax’s official website for a full list of places where you can’t buy it.

Reported this Wednesday, the FBI has laid charges against six people for their alleged involvement in a Cryptocurrency-based illegal money transmission operation valued at $30 million. These individuals are accused of conducting their activities without a proper money-transmitting license in New York, according to court documents filed in the Southern District of New York. Dealings & Darknet: According to an unsealed affidavit by an FBI agent who is looking to arrest the individuals, between July 2021 and September 2023, they conducted illegal activities through the usage of the darknet. They had converted Bitcoin and other Cryptocurrencies into cash. It’s like a plot straight out of a crime thriller. FBI’s Secret Sources and Cash Pick-Ups: The investigation took a rather dramatic turn in February 2023 when law enforcement apprehended an individual responsible for mailing bundles of cash on behalf of an unidentified co-conspirator. What makes it more intriguing is that this arrested individual later becomes a secret informant for the next eight months. During this time, authorities managed approximately 80 controlled pick-ups of cash, and the total haul was a jaw-dropping $15 million. Isn’t that shocking? Well, there is more to it. Keep reading for the deets! Surveillance Evidence: This case is far from being a ‘he said, she said’ scenario; in fact, it is backed by a number of photographic and video surveillance evidence. It means that authorities are now well-prepared to take down the scammers. This bunch of pieces of evidence solidifies the claim that the accused not only operated without the necessary licenses but were also unregistered, which can turn the whole FBI against you. These audacious illegal activities involve Cryptocurrency scams, the one that is mentioned above. Therefore, these hefty amounts of money laundering have triggered a swift and determined response from the U.S. government. Consequently, results in the formation of NCET. National Cryptocurrency Enforcement Team (NCET): After this move that further underlines the U.S. Government’s commitment to tackling Cryptocurrency-related crimes, this brings us to this-: Deputy Attorney General Lisa Monaco. She announced the formation of the National Cryptocurrency Enforcement Team (NCET). This special squad is all up for the investigation-prosecution of Crypto-related scams. A Strong Message by Deputy Attorney: Monaco has sent a strong message that Cryptocurrencies and other virtual currencies are not for criminals to perform illegal activities. This is serious! The team under the leadership of Monaco has all its focus on Crypto exchange companies and other digital asset infrastructure providers. The ones that are under the radar could potentially allow the misuse of cryptocurrencies for nefarious purposes. Imposing globally: What’s even more interesting is the NCET’s aim to build capacity and provide training to law enforcement agencies not just in the U.S. but also globally. Moreover, this isn’t just a local effort; it’s an international one. The idea is to arm law enforcement agencies worldwide with the knowledge and tools necessary to effectively investigate and prosecute serious crimes involving cryptocurrencies and digital assets. A Quick Recap: In a significant development, the FBI has uncovered a $30 million cryptocurrency scam in New York. These accused six individuals allegedly conducted an illegal money transmission operation without the required license. Moreover, the investigation uncovered their activities on the darknet, where they converted cryptocurrencies like Bitcoin into cash. A surprising twist in the story came when an individual responsible for mailing cash on behalf of an unidentified co-conspirator turned into a confidential informant, aiding in around 80 controlled cash pick-ups totaling $15 million. Moreover, the case is strongly supported by photographic and video evidence, setting the stage for a potential crackdown on the culprits. In response to such audacious cryptocurrency-related crimes, the U.S. government has taken decisive action by establishing the National Cryptocurrency Enforcement Team (NCET). Deputy Attorney General Lisa Monaco leads this elite squad. It is dedicated to investigating and prosecuting cryptocurrency scams. The message is clear: cryptocurrencies are not a refuge for criminals. The NCET’s focus extends to crypto exchanges and digital asset infrastructure providers, with an emphasis on global cooperation and capacity building for law enforcement agencies worldwide. This move underscores the government’s commitment to combat cryptocurrency-related crimes on a global scale.

Hello! All lovely people reading this out. How are you guys doing? Good! Well, as you should, because the weekend is on its way. And you must be planning to make your way to hang out with friends or loved ones. Well! Coin Informer would like to present top weekly crypto news (October 12th to 19th) to make you aware of what’s happening in this ever-evolving industry. This week, media tabloids finally sidelined SBF’s court trial and offered to report on other news. Patric McHenry presides as an acting speaker in the House of Representatives, While Coinbase passed Red Flag against the IRS crypto tax proposal. Moreover, Liquity’s LQTY witnessed good growth over the weekend, and CNBC’s latest report on Jimmy Zhong wiped out all suspense. You must be thinking, what we’re even talking about?  There is nothing wrong with this; who can even get the entire news by reading one line?  That’s why we have dedicated this blog post to discuss top weekly crypto news as a part of the weekly series. So, without wasting much time, let’s delve into it. Patric McHenry, becoming an acting Speaker, will Push Back Crucial Crypto-Oriented Bills: Weekly Crypto News On Friday (October 13th), the U.S. House of Representatives witnessed chaos due to the top republican candidate dropping out of the speaker race. This led to other republican members causing uncertainty in the house. Since the seat of the speaker was vacant. Patric McHenry, chairman of the House Financial Services Committee, was picked as acting speaker of the U.S. House of Representatives. Does it sound like a happy ending? But it’s not good news for the crypto world. Patrick McHenry is one of the biggest crypto supporters in Congress. McHenry, acting as a speaker for a temporary purpose, will sideline important decisions on crypto for the upcoming month. Decisions on two important crypto-oriented bills (government guardrails for stablecoins and regulations for the crypto market) are still awaited. With McHenry becoming an acting speaker, it may seem these bills may be discussed in the House in 2024. Coinbase Resisting IRS Crypto Tax Proposal: Weekly Crypto News As a crypto enthusiast, you would have heard of ‘Coinbase’? Yes, the biggest U.S. crypto exchange. On October 13th, Coinbase wrote a letter to the IRS (U.S Internal Revenue Service), criticizing their recently proposed rule about the tax system in the crypto industry. The latest proposed law by the IRS emphasizes the guideline of how crypto brokers can properly pay their taxes. However, Coinbase was in no mood to accept this new proposal. In a letter, Coinbase described this law as An Unprecedented, unchecked, and unlimited tracking of the daily lives of America’.  Stablecoin Lender Liquity’s Token Gains 80% in Month as Activity Increases: Weekly Crypto News On Saturday, crypto analysts were shocked to witness the sudden rise in LQTY tokens (Liquity’s native token). Don’t know about Liquity? There’s nothing to worry about, we’ll tell you. Liquity is a borrowing and lending platform allowing users to secure loans in Liquity’s stablecoin, LUSD. In September, LQTY was trading at $0.75, and now, it stands at $1.35. Many analysts also highlight that the LQTY rise was not sudden; the token has been growing over the past few weeks. However, one of the well-wishers for Liquity credits Bluechip (A stablecoin agency) Hamas Using Binance Networks to Collect Funds: Weekly Crypto News Last Saturday, Hamas (a Palestinian militant or terrorist organization) attacked Israel, resulting in massive destruction. In resistance, Israel attacked Gaza with heavy air strikes. After a few hours, this news became viral, and the world split into two parts: Some stood with Palestine, while others were against it. The crypto world also immersed its hands in this matter when Defi enthusiast Yogi publicly tweeted that Hamas was using Binance to collect funds for these terrorist attacks.   CNBC’s New Report on Jimmy Zhong Clears All Doubts: Weekly Crypto News Remembered, the name, ‘Jimmy Zhong’? Yes, the person who did the largest cryptocurrency seizure. CNBC has published a new report in which they have shared additional details about Jimmy Zhong’s arrest. According to the report, He was arrested on the grounds of wire fraud and stealing 50,000 bitcoins from the Silk Road Marketplace. Zhang called emergency services in Athens to inform them that his hundreds of thousands of dollars of bitcoin had been stolen from his residence. U.S. Department of Justice solved this case, and the court imprisoned him for one year & forfeited his Bitcoin. An FDIC Inspector General Quotes, ‘FDIC is lacking to Offer Proper Guidance to U.S Banks’: Weekly Crypto News On October 18th, the General Inspector of FDIC is criticizing their own agency for not offering proper guidance to U.S Banks. According to a report published on Wednesday, the inspector general studied FDIC’s whole performance and found it lacks proper guidance. Moreover, to change this trend, the general and agency have negotiated to adopt a new strategy by January. The inspector may have noticed that the FDIC insisted banks paused their crypto activities last year, but the agency didn’t tell them when to start these services again. Wrapping Up: In this rapidly evolving crypto landscape, staying informed about such developments is crucial for anyone involved or interested in the industry. Keep an eye out for further updates and crypto weekly news in the coming weeks. Enjoy your weekend, and stay informed!

Ferrari, who hasn’t heard about this luxury sports car brand? This car manufacturer is often in the news for its latest model launches and other celebrity promotions, but for the first time, this brand is in the news for its bold step, which is accepting cryptocurrency payments for its vehicle in the United States. This groundbreaking decision comes in response to requests from its loyal customers, and this is the very first time a luxury car brand is doing this. Moreover, you know who has confirmed this himself: the one and only Enrico Galliera, Ferrari’s Chief Marketing and Commercial Officer. He also said that the company is aiming in the future towards becoming carbon neutral by 2030. But why does this company have taken this decision? Let’s dive into the details: Cryptocurrency Acceptance of Ferrari in the Luxury Car Industry: The news about Ferrari accepting Crypto Currency as a mode of payment came as a shock. The business landscape of the USA, where the blue-chip companies have been cautious about using due to its volatile natural and regulatory concerns. Therefore, Ferrari’s decision comes out as a surprising step, just like Taylor Swift’s breakup with Joe Alwyn. The reason for both is still an unsolved mystery. But worry not because we are unfolding it for you. Moreover, it seems like Ferrari is following in the footsteps of Tesla. Alon Musk’s Tesla, that man is ahead in every game. Tesla once started using Bitcoin but has stopped its usage due to environmental apprehensions. Back to the topic, let’s unwrap the mystery: Reasons behind Ferrari’s Decision of Crypto Acceptance Ferrari’s decision to accept cryptocurrency payments for U.S. car sales is driven by several key factors.  Firstly, the company is committed to achieving carbon neutrality by 2030, and this decision aligns with that goal. They acknowledge the progress made by the cryptocurrency industry in reducing its carbon footprint through software advancements and the adoption of renewable energy sources. Moreover, Customer demand plays a pivotal role as well. Ferrari’s customer base includes both young cryptocurrency investors and traditional buyers looking to diversify their portfolios. By accepting crypto payments, Ferrari aims to cater to a broader range of potential buyers. Despite the challenges in the cryptocurrency market, Ferrari’s move signals their belief in the long-term sustainability of cryptocurrencies. While Bitcoin faces criticism for its energy-intensive mining process, other cryptocurrencies like Ethereum have improved energy efficiency. Furthermore, Ferrari has already shipped a significant number of cars to the United States, and this new payment option is a strategic move to tap into a broader audience interested in luxury cars. The company’s order portfolio remains strong, with bookings extending well into 2025. This initiative is not limited to the U.S., as Ferrari plans to expand its cryptocurrency payment scheme to Europe in the first quarter of the coming year. The European, Middle Eastern, and African (EMEA) region is a significant market for Ferrari, and the interest in cryptocurrency payments is consistent between the U.S. and Europe. At last, it’s worth noticing that the majority of Ferrari’s U.S. dealers have either signed up or are in the process of agreeing to the cryptocurrency payment scheme. Therefore, this collective participation highlights the automotive industry’s growing openness towards innovative payment methods. Moreover, Ferrari’s acceptance of cryptocurrency payments is a testament to its commitment to meet evolving customer preferences and its competitive appearance at the forefront of the luxury car market. In a Nutshell: Now that you know the reasons behind, Ferrari’s decision to accept cryptocurrency payments for its luxury sports cars in the United States. Due to the plans for global expansion, it represents a significant development in both the automotive and cryptocurrency industries. This move not only caters to the demands of a diverse customer base but also showcases Ferrari’s commitment to embracing modern financial technologies while maintaining its environmental responsibility. As the cryptocurrency market continues to evolve, Ferrari’s pioneering step may inspire other luxury car manufacturers to follow suit.

Scammers are constantly on the lookout for a new way to steal Cryptocurrencies from unsuspecting users. The Cryptocurrency industry is their favorite due to its decentralized nature. So, as we all are moving towards 2024, there are several mastermind scammers out there who can catch you off guard. So, to save you from all the trouble, let’s go through all the common scams of 2023. Common scams of 2023 AI Crypto Scams: Artificial intelligence is a powerful tool, and scammers are using it to develop new methods of fraud and deception. They employ AI chatbots or virtual assistants to engage with individuals to pretend that they are counseling you about investment or promote fake tokens and initial coin offerings. Moreover, they will even offer you fake high-yield investment opportunities. Moreover, by leveraging social media platforms and AI-generated content, scammers sell their holdings for significant profits. This technology has allowed the scammers to automate and scale fraudulent activities. Fake Celebrity Endorsements: Scammers have been misusing high-profile figures without their knowledge to coax fans and use their faces to promote face endorsement schemes related to Crypto projects. Scammers use their faces to trick you into thinking that your project is legit. There are celebs like Prince Harry, Megan Markle, Bill Gates, Mark Zuckerberg, and Sir Richard Branson. There’s even a deep fake video of Elon Musk promoting a scam project! To avoid falling for these traps, do thorough research before investing in anything. Make sure the project and endorsements are the real deal. Romance Scams: Crypto romance scams are another particularly deceptive scheme in which scammers establish romantic connections with you. The whole intention is to trick you into handing over your valuable Crypto assets. These fraudulent relationships often start on social media platforms or dating apps, where initial conversations are initiated. They play the long game by investing days, weeks, and sometimes even months in cultivating an emotional bond with their targets. By leveraging the fabricated romantic connection, they manipulate you to either send them Crypto payments or invest in fake projects. Social Media Crypto Scams: Social Media is a hub of Crypto Scams, and scammers use social media platforms to mimic famous brands or copy celebrities to promote their fake projects. It is common on platforms like Twitter, Instagram, and Tik-Tok. However, these platforms are taking measures to combat Crypto scams. They still create fake accounts and misguide you with fake promises. Therefore, to protect yourself against these scams, you need to be extra cautious on social media and be careful while interacting with Crypto projects trending on social media. Investment Scams: Investment scams involve promises of massive returns in exchange for early investment in a relatively new Crypto project. The scammers play different roles, such as investment managers of the yet-to-be-launched project, and make ill-founded promises about delivering huge returns. These scams often begin with an unsolicited offer that lures users to a fraudulent website to learn more about the opportunity. Therefore, keep in mind that Legitimate investments don’t usually come knocking on your door. Be cautious if you’re approached out of the blue, especially via email or social media. Giveaway Scams: Crypto Giveaway scams are when fraudsters guarantee you to match or multiply the amount of Crypto you sent them. These scams aim to deceive individuals into sending their funds to the scammers. As a result, it causes financial loss. You can easily identify this scam because all giveaway scam follows the same pattern of pretending to be a prominent individual or organization before asking unsuspecting users to send Crypto. Since Crypto transactions are irreversible, once you send it to a ‘giveaway’ address, it is gone forever. Therefore, raise your awareness about the fact that Legitimate giveaways never ask you to send funds or personal information in advance. If they do, it’s a scam. In a Nutshell: There is no doubt that the Crypto World is exciting, but it is also a playground for scammers. So, do your research before investing anything. If something seems too good to be true or feels fishy, it probably is. As you are stepping into 2024, protect your private information and data from scammers.

The Crypto market is famous for its volatility with price Fluctuations that can send investors on a roller-coaster ride. Throughout the year, September is the month that is often labeled as ‘The Bad Month’ for the Crypto market. While pinpointing the exact reasons behind this trend can be complex, examining historical patterns and potential factors can shed light on why September might be perceived as a ‘Bad Month’ for Crypto investments. Why September is Consider as a Bad Month for Crypto September is a bad month for Both Crypto and Stock markets. At the same time, there is no particular reason that justifies the market’s historical tendency to experience price corrections or downturns during this time. The investors believe that the market in September will become bearish, and thus, they decide to sell of their assets. This causes a dip in prices because of the highest offer. Moreover, previous years have been terrible for Bitcoin in September, and its price went down by almost 19% in 2014. But this is not only the phenomenon with Bitcoin. Other assets also face the same issues. Therefore, this pattern has led some to believe in the existence of a “September curse.” One speculated explanation of this trend is that it is the end of the summer season in the northern hemisphere, which often coincides with less trading activity and market participation. Moreover, the traders and investors who may have been less active in the summer months might return to the market in September. Therefore, it increases the selling pressure on them. Moreover, changes in rules and regulations about Cryptocurrencies, as well as events all around the world, can create uncertainty in the market that leads to cautious investor behavior, which might cause the prices of Cryptocurrencies to go down. As the time speaks for itself, September is a month in which important regulatory announcement has been made. So, what to do in September? If you are a beginner in the Crypto world, let us help you out on this. Here is the list of Cryptocurrencies to Buy in the September: 10 Crypto currencies to Buy in the September 2023 Dip: 1. XRP Current Price: US$0.5183 It is Ripple’s digital assets that caught attention by partnering with MoneyGram for faster and cost-efficient international payments. Even though its price is stabilized post-SEC rules, it is still worth more than 50 cents. Therefore, it indicates that it’s strong and is not dropping in value too much. 2. Solana Current Price: US$20.28 Solana’s collaboration with Chainlink to introduce secure decentralized oracles stands out. They have also introduced the Solend DeFi derivates platform, which makes it even more attractive in the evolving world of Cryptocurrency. Moreover, due to its recent updates, this network has better technology than Ethereum. So, it could be worth owning SOL tokens. 3. Tron Current Price: US$0.07635 Tron’s successful $600 million fundraising round led by Alameda Research underscores its expanding ecosystem and commercial adoption efforts. Moreover, It is also connected with the Ethereum Virtual Machine (EVM). 4. Toncoin Current Price: US$1.50 Toncoin’s entry into the NFT marketplace in March 203 and its successful collaboration with Bitfinex contributed to its significant price surge. Moreover, the introduction of the mainnet added further momentum. 5. Shiba Inu Current Price: US$0.000008122 With Shiba Inu’s introduction of the Shibarium layer-2 blockchain and plans for its own metaverse, Shiba Inu is at potential growth. 6. Stellar Current Price: US$0.1184 Stellar’s partnership with MoneyGram for cross-border payments and its recent recovery from the cost of its native coin, XLM, from a previous low in July 2022, has secured its position as a contender that you can buy in September dip. 7. Chainlink Current Price: US$5.91 Chainlink’s innovation continues with the launch of Chainlink Keepers, which facilitates automated actions on the blockchain. Despite a stabilization in price, Chainlink still remains above $5. Which is a positive indicator, which means you can invest in it fearlessly. 8. Hedera Current Price: US$0.0545 Hedera’s collaboration with Dropp for micropayments demonstrates its versatility. Moreover, with the price of HBAR witnessing a notable increase after partnering with FedNow, It has risen up to 20%. 9. Optimism Current Price: US$1.42 The introduction of Optimism Collective led to a surge in the cost of optimism by more than 50%. It showcases that its new governance structure would result in a rise in optimism adoption. After the initial rise after the debut of Optimism Collective, its price has stabilized, but it is still trading above the $ 1.50 mark, which is encouraging. 10. Maker Current Price: US$1,025 Following the introduction of MCD, the price of Maker, MakerDAO’s native token, increased by more than 30%, indicating a positive outlook for its enhanced utility. After seeing an initial increase following the release of MCD, the price of Marker has stabilized. However, it is still trading above $1,000, which is a good sign. In a Nutshell It is totally clear that investing in Cryptocurrency comes with lots of risks due to its unpredictable nature. If you want to make informed choices, it is important to research well, consider your risk tolerance, and consult financial experts. While trends offer insight, the market still remains unpredictable. Therefore, diversification, research, and long-term overviews are crucial for better investment. So, when investing in September 2023, you will come across chances and challenges that require caution. In the end, it is wise to say that September is tough for crypto. However, with careful strategies, you can still walk through it intact.