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Sam Bankman, a 31-year-old who once was famous as a Crypto king. Now, he has become a scandal himself. If we talk about scandal, Crypto has now somewhat become a center of controversies and scandals. A few days back, there was a scandal about the Crypto Queen and now Crypto King; what else is now left? Might be next in line are their armed forces. Coming back to the topic, let’s talk about Sam Bankman-Fried (The once mighty Crypto King) The early days of Sam Bankman-Fried: Back in 2022, as the Crypto markets were experiencing turbulence, Sam Bankman Fried stepped in as a savior for small Crypto firms. He is a finance and Crypto entrepreneur, a Co-founder and former chief executive officer of FTX (which is currently in a bankrupt situation), and Alameda Research. His rise as a head of one of the world’s largest Cryptocurrency exchanges with a net worth of $ 26 billion. This earned him the title of the “King of Crypto.” However, the euphoria was short-lived. It all happened one day when he was arrested and charged with fraud. It all started with the collapse of FTX, which was reported to be missing over $8 billion in funds. Bankman- Fried’s Arrest & trials: Bankman-Fried was arrested in the Bahamas, the headquarters of FTX, and then brought to the U.S. His first trial at the Federal Courthouse has drawn the attention of the media, legal experts, and the whole Crypto community. It is expected to be a six-week courtroom battle. The aim of it is not only to examine the allegations against him but also to give a reminder that the crypto industry involves a lot of complex agreements and transactions. The fall of Sam Bankman’s kingdom: In 2022, FTX, a Cryptocurrency company led by Sam Bankman-Fried, faced a financial crisis. They kept their money in their own cryptocurrency called FTT, which raised concerns. When the rival company, Binance, announced that “they are selling their FTT holdings,”. Which caused the FTT’s price to drop entirely, affecting the entire Crypto market. Then, there go the curtains of protection. The picture of FTX’s money problems became evident. Bankman-Fried tried everything in his power to save FTX, but he only has empty pockets. Therefore, FTX had to declare bankruptcy, and Bankman-Fried stepped down as CEO. The following day, $1-2 billion money of FTX’s customers disappeared, and FTX said they were looking into “unauthorized transactions.” It was a tough time for the company and its customers. Allegations and Denials: The U.S. Department of Justice alleged that Sam Bankman-Fried has misused the customers’ funds (that are held at FTX) for personal extravagances such as investing into real estate and for substantial political donations. Moreover, he was also accused of concealing losses at his trading firm (Alameda Research) and providing false information to investors and banks regarding the relationship between the two companies. Well, Bankman-Fried didn’t back out. He admitted to having sloppy record keeping, but he denies his involvement in any fraudulent activities. Moreover, the people handling the matters of bankruptcy of FTX were able to find over $7 billion by August. However, his legal team argued that he made decisions based on advice from lawyers at important moments. Furthermore, the situation became worse in his case when the four of his closest business associates and allies, including his ex-girlfriend and former Alameda chief Caroline Ellison, pleaded guilty to various charges. Three of them are expected to testify against him during the trial. A Challenging Defense: Legal experts predict that Sam Bankman-Fried faces will have a tough time defending himself in court. With multiple witnesses testifying against him, including individuals with insider knowledge of his activities, it may be challenging to cast doubt on their credibility. Bankman-Fried, who has been in prison since August, is left with the hope of finding a sympathetic member of the jury to sway the trial’s outcome in his favor. However, Legal analysts suggest that the odds are in the favor of the government. Due to the given track record in cases like this. In a Nutshell: Sam Bankman-Fried’s journey from being a “Crypto king” to facing allegations of financial fraud serves as a cautionary story in the crypto world. It highlights there is a need for increased scrutiny, regulation, and accountability for an industry. Which has witnessed both remarkable success and devastating scandals. At last, the outcome of this trial will undoubtedly have a lasting impact on the crypto industry.

Welcome to the Cryptocurrency forecast, where Coin Informer will tell you about the latest happenings in the Crypto world. This post will guide you to Crypto Predictions and unravel the most significant events that are shaping the crypto landscape. We will provide you with insights and tell you what the future holds for digital currency. From expert analyses to emerging technologies, join our journey to the crypto world. 2024 Crypto Prediction: Gear up your crypto bull run Shiba Inu, Kangamoon, and Ethereum are leading the pack As crypto experts have started predicting the Crypto Predictions bull run for 2024, Shiba Inu, Kangamoon, and Ethereum are emerging as top considerations. Although Shiba Inu has experienced a recent downfall, experts believe it could drive $0.00001925 in 2024. Additionally, Kangamoon is slowly revolutionizing the gaming industry with its play-to-earn platform. Because of this feature, Kangamoon is the most preferable pick among all. Finally, Ethereum’s upcoming update, EIP-4484 or Protodanksharding, will boost market activity, leading to an average price of $3,200 by 2024. Hong Kong’s Crypto Initiative: Potential Tailwind for east Asian market Can Hong Kong Rejuvenate East Asia’s Crypto Activity? Recently, China banned a few crypto, causing a decline in East Asia’s crypto activity. However, Hong Kong’s recent crypto advancement gave a light of hope to the crypto enthusiast. Moreover, Hong Kong’s crypto-friendly regulations and initiatives have optimized the market, potentially reversing the trend. Experts suggest that Hong Kong could be the lab rat for broader cryptocurrency adoption in the region, as this is happening for the first time. Additionally, this will further attract investments from banks, private equity firms, and high-net-worth individuals. Impact of the Crypto Market: $200 Million in Unlocked Tokens Threaten Bullish Momentum How Token Unlocks May Influence Market Momentum An unexpected influx of unlocked tokens worth about $200 million threatens the bullish trend of the Crypto Predictions. Several altcoins, including SUI, Immutable X, Aptos, and Axie Infinity, are set to be released in October. This rush of tokens may undermine the current market boom. This will further create a commotion among investors and traders. As the market navigates through this difficult phase, caution is suggested. Dark Defender’s Bullish Prediction and Revised Forecasts Send XRP Soaring to $5.85! Dark Defender, a cryptocurrency analyst, has made a big forecast for XRP. He anticipates a potential 1,100% increase to a new all-time high of $5.85. According to Dark Defender’s analysis of XRP’s recent price trends and market behaviour, breaking the $0.66 resistance level could open the way for this spectacular price surge. Additionally, The XRP community is predicting big gains in the next years as events unfold. ApeMax: Bringing Innovation and Utility to the Crypto Universe Revolutionizing Meme Coins with Boost-to-Earn Innovation ApeMax shines brightly among the various crypto scene, attracting the attention of both fans and specialists. ApeMax’s Boost-to-Earn system stands out as a new staking mechanism, combining meme coin appeal with practical utility. Moreover, its continuing presale provides qualified individuals with early access to the coin’s potential. ApeMax symbolizes the spirit of innovation and enthusiasm in the crypto industry, with rising momentum and transparent tokenomics. Bottom Line: As the cryptocurrency market continues to evolve, it is critical for investors and enthusiasts to stay up to date on the newest trends and predictions. Additionally, Shiba Inu, Kangamoon, Ethereum, Hong Kong’s crypto initiatives, the potential market impact of unlocked tokens, XRP’s bullish projection, and ApeMax’s creative approach all provide significant insights into cryptocurrency’s future. Explore Coin Informer, your trusted source for comprehensive crypto information, for more in-depth analysis and real-time updates. Stay tuned for next week’s edition, in which we will reveal even more fascinating forecasts and surprises from the ever-changing world of digital currencies.  

What’s up? All wonderful crypto enthusiasts. You must be waiting for our weekly Crypto Updates, and now, we’re here to shed light on the top crypto headlines of this week of September (23rd to 27th). Like other weeks, this week in the crypto landscape was not much different, except for two major hacking cases. There were arrest, bail, price drops, hacking, and what’s more? Some furious debates. Without further ado, let’s discuss the top weekly crypto updates. Ben Armstrong Unexpected Arrest and Bail, Leading to BEN Token Dropping to 30%:Crypto Updates Ben Armstong, a founder of BitBoy Crypto, was arrest on Monday due to an evident clash with his former business partners (September 25th, 2023). The Gwinnett County Sheriff’s Department arrested Armstrong on the reasons of loitering and causing simple assault by placing another in fear. As per videos live streamed on X (Twitter), Ben was also carrying a gun in his car. As soon as this news broke out on the internet, BEN tokens dropped by 30%. However, a day later, the renowned crypto influencer was released on bail (September 26th, 2023). 3.6% Drop in Optimism’s Prices Ahead of Unlocking Event on Saturday:Crypto Updates Locking a certain part of any token’s supply and releasing it gradually is a well-known strategy, often used by many cryptocurrency projects, to prevent investors from selling their tokens in large quantities. By doing so, cryptocurrency projects stabilize their prices. Optimism (OP), a well-known cryptocurrency, is also implementing this strategy by scheduling an unlocking event (of 3% of the circulating supply, worth 30 million dollars) this Saturday. But things aren’t looking well for this unlocking event. On Tuesday, Optimism’s prices dropped by 3.6%, resulting in the loss of 10% of its value in a week. This is such a negative sign ahead of a crucial unlocking event that was meant to revive OP. Deutsche Bank Agreed to Pay $25 Million Fine for its Subsidiary in SEC Settlement:Crypto Updates In July, the SEC made serious allegations of greenwashing and anti-money laundering lapses against DWS Investment Management Americas Inc. (Subsidiary of Deutsche Back). As a result, the SEC fined the company. However, it looks like both sides have settled their issues. On Monday, news broke out in public that Deutsche Bank has agreed to pay $25 million as a fine in SEC settlement charges. $19 million for misleading information and statements and $6 million for not following anti-money laundering security programs. HTX Loses $7.9 Million to Hacker, Offers Job and Reward for Return:Crypto Updates HTX, formerly known as Huobi, has lost 7.9 million dollars’ worth of ETH due to hacking. This hacking news shocked everyone since a few weeks ago, the company made a huge rebranding. But things are not as bad as it seems. Justin Sun, an HTX advisor, tweeted on Monday that HTX is operating completely normally, and the company has even recovered from its loss. Besides this, according to messages sent over the blockchain, HTX argues they had unmasked the hacker’s identity. HTX has given one week to a hacker to return the funds. Otherwise, they’ll take legal action. Moreover, the company is willing to hire a hacker as a security white-hat advisor and offer 5% of the stolen amount if the hacker comes forward to return the stolen funds. Hong Kong to Announce Full Disclosure of Crypto License Seekers After JPEX Probe Last week, the JPEX probe became the talk of the crypto town, where SCMP took action in favor of 83 complaints against JPEX (Hong Kong Crypto Platform) operating in the territory without a license. According to local media, around $128 million is involved in this whole probe. This news came as a shock to the internet, starting a debate on illegal operating systems of cryptocurrencies. On Monday, SFC (Securities and Futures Commission) made an announcement to disclose all crypto license applicants. The decision was taken due to high public demand. The SFC has asked for the need of proper regulation to issue crypto licenses. Mixin Network Faces $200 Million Hack, Offers $20 Million Bounty for Stolen Assets’ Return Mixin Network, a service to make cross-chain transfers cheaper, has been confirmed to have been hacked for nearly $200 million. On September 23rd, 2023, some hackers attacked the Mixin Network’s database, resulting in the hacking of $200 million worth of assets. After a few days, on September 27th, 2023, Mixin Network sent a message to hackers, requesting them to return the assets; moreover, they also agreed to offer $20M as a bounty reward. Weekly Gainers and Losers: Top Gainers of this Week: Top Gainers of this Week Price Volume (24 hours) Growth in the Last Seven Days Curve DAO Token $0.5312 $32,712,826 20.93% Terra Classic $0.00006682 $32,826,029 17.03% Pepe $0.0…07155 $43,823,349 14.23% Maker $1,452.69 $127,373,020 11.57% Frax Share $5.87 $19,514,390 11.34%   Top Gainers of this Week Top losers of this Week Price Volume (24 hours) Loss in the Last Seven Days XDC Network $0.04791 $3,244,996 11.58% Toncoin $2.26 $32,356,828 8.34% Casper $0.03177 $3,388,570 7.54% Render $1.51 $15,133,377 5.31% Optimism $1.31 $70,699,921 5.30%   What’s Next? This week was a wild ride for the crypto world: numerous hacking cases, a highly publicized arrest, some shocking news, and more. Let’s see what’s going to happen next week in the crypto world. Probably, the hacking case of Mixin Network and HTX will come to an end, and some insights will be released behind Sam Armstrong’s arrest. The most interesting thing is surely going to be Optimism’s unlocking event amid the price drop. Moreover, many SEC court trials are on the way in a legal battle with many big crypto world names. For now, stay tuned and wait for Coin Informer’s next weekly roundup.

We all know about cryptocurrency, but do you know how and when it all started? Cryptocurrency has brought revolution in the financial world. However, this revolution didn’t happen overnight, it took years to become what it is today! This guide will walk you through various stages of cryptocurrency’s evolution, providing valuable insights into it’s past, present and future. The genesis phase: Origin of Bitcoin (2009-2013) The birth of Bitcoin The story starts with the mysterious Satoshi Nakamoto introducing the Bitcoin whitepaper in 2008 and mining the first Bitcoin Block in 2009. This stage was the foundation of decentralized digital currency. Early adoption and Skepticism Although Bitcoin started strengthening its foot among the niche group of enthusiasts, doubts and regulatory concern were still there. Nevertheless, the first cryptocurrency was preserved and slowly gained a lot of value over the time. Technical Advancements Prominent development like the first Bitcoin Wallet, the first cryptocurrency exchange, alternative of other cryptocurrencies set the stages for further growth. The Expansion phase: Altcoins and market diversification (2013-2017) The rise of other cryptocurrencies During this time, other cryptocurrencies (altcoins) such as Litecoin, Ethereum, and Ripple emerged, each with its own set of features and applications. Ethereum smart contracts opened up new avenues for blockchain technology. ICOs (Initial Coin Offerings) The ICO boom allowed entrepreneurs to access funds through cryptocurrency crowdfunding, which stimulated innovation but also attracted unscrupulous ventures. Regulators started to take note. Scaling Issues As transaction fees increased and network congestion became a worry, Bitcoin’s scalability issues became obvious. Lightning Network and Segregated Witness (SegWit) solutions were proposed. The Phase of Institutionalization (2017-2020) Institutional Investment Large financial institutions, hedge funds, and organizations began investing in Bitcoin, signaling a move away from retail acceptance and towards institutional adoption. Bitcoin’s status as “digital gold” grew. Regulatory Advances Governments and regulatory organizations throughout the world began developing frameworks for cryptocurrency, with an emphasis on anti-money laundering (AML) and Know Your Customer (KYC) requirements. The Libra (now Diem) project sparked regulatory debates as well. DeFi and Decentralization The growth of Decentralized Finance (DeFi) platforms raised the profile of decentralized lending, borrowing, and trading, posing a challenge for standard financial service providers. Beyond Currency: The Innovation Phase (2020-Present) NFTs and Digital Collectibles Non-fungible Tokens (NFTs) have skyrocketed in popularity, allowing for the ownership of one-of-a-kind digital goods, art and collectibles, and even virtual real estate. CBDCs (Central Bank Digital Currencies) Countries investigated the creation of their own digital currency, with China pioneering the Digital Yuan. CBDCs guarantee governments better control and efficiency. Blockchain Interoperability and Layer-2 Solutions Scalability and interoperability alternatives such as Ethereum 2.0, Polkadot, and Cosmos seek to address the constraints of blockchain by providing quicker and more adaptable ecosystems. What the cryptocurrency future hold? Clarity in Regulation and Global Adoption More regulatory clarity, according to the sector, will help bridge the gap between traditional banking and bitcoin, opening the path for broader worldwide use. Inclusion in Mainstream Finance Cryptocurrency is on the verge of becoming a mainstream financial institution, with the potential to revolutionize payments, remittances, and other services. Conclusion: The evolution of cryptocurrencies has been nothing short of amazing. From the start of Bitcoin to the emergence of breakthrough technologies such as NFTs and DeFi, each stage has pushed the envelope of what is possible. Looking ahead, the future of cryptocurrency is bright, with further integration into conventional banking and growing global usage. However, there are still obstacles, particularly in terms of regulation and scalability. Nonetheless, the spirit of innovation that has distinguished Bitcoin since its inception continues to propel this disruptive industry ahead, promising exciting advancements in the coming years. Understanding these phases is critical for navigating the ever-changing cryptocurrency market, whether you’re an investor, developer, or simply inquisitive about the world of digital currencies.

According to reports, Valeria Fedyakina, a well-known personality in the crypto industry, is known as Bitmama. She is also famous by her name, “Queen of Cryptocurrency,” and has found herself at the center of a scandal that is a socking for the Crypto community on September 15, 2023. As Russian authorities arrest this businesswoman and Crypto influencer on fraud accusations, she is being questioned about the validity of her business operations. The Disappearance and Arrest of Bitmama Bitmama’s disappearance was unexpected. Roughly a week before her arrest, she vanished from the public eye, leaving her investors and followers bewildered. Her Instagram, where she has nearly 55,000 followers, fell silent, and her Twitter account, with 7,000 followers, remained inactive. This disappearance was more surprising as she had been scheduled to speak at an event in Moscow on September 16. However, a closer look revealed red flags. Her firm’s website was offline, and her X accounts had not been updated since April of the same year. It was becoming increasingly clear that something was inappropriate with Bitmama’s operations. What are the Allegations imposed on Bitmama? The arrest of “Bitmama” came after an acquaintance filed a fraud complaint against her. The complainant alleged that Fedyakina had deceived him into handing over a staggering $70 million. This is a huge shock for crypto traders as she was widely regarded as a prominent figure in the industry. The police investigators began to suspect that Fedyakina might have been operating a “financial pyramid” scheme, where new investments were used to pay off earlier investors, creating the illusion of legitimate returns. As the allegations gained public attention, it was reported that Bitmama had attempted to make a sudden escape with her investor’s funds, leaving her followers in a state of disbelief. Promises and Business Ventures: Bitmama had positioned herself as a crypto influencer, promising her investors impressive returns of 1% on the funds they entrusted to her. Additionally, she was the CEO and Founder of a crypto-related company known as Holdinga, which added to her credibility in the crypto world. Her influence extended beyond her social media presence. She had been featured in various English-language media outlets, including the Arabian Post, and was even recognized as one of the “10 Innovative and Driven Women Entrepreneurs to Follow in 2023” by the International Business Times. She had a UAE residence permit and often listed Dubai as her location on social media channels. It was all an act to give the impression of a successful entrepreneur. Illegal Crypto Operations: Bitmama’s activities in the Crypto business are still a mystery. She had previously advertised the potential of Cryptocurrencies for Russians facing international financial restrictions. Moreover, Reports suggested that she worked with a range of “wealthy” clients and had extensive connections with businesses and state-run corporations. According to Moskvich Magazine, Bitmama had been involved in the crypto industry for a considerable period. She used to frequently facilitated the transfer of cash from clients. She also helps them to withdraw funds abroad. Her “daily turnover” was rumored to be in the “tens of millions of dollars,”. Therefore, it means that she once had a huge sum of money flowing through her hands. The Legal Consequences Bitmama’s arrest carried significant legal implications. At the time of her arrest, she was reportedly six months pregnant, which adds another suspense to her story. If convicted, she might end up with ten years of prison, which can be difficult for someone like her. Police were already alert, which led to her immediate arrest. Currently, she is under custody in a pre-trial detention center. Where she is waiting for her first court hearing, which could determine her fate. Moreover, the Crypto community that was once smitten by Bitmama’s charisma and apparent success is now holding on to the reality with potential financial losses and shattered trust. Therefore, her arrest serves as a risk that is involved in the Crypto world and the importance of due diligence when investing in this volatile and largely unregulated space. To wrap up: The revealed face of once the famous ‘Crypto Queen’ Valeria Fedyakina, the crypto community is left to ponder the impact of her alleged deception. It might also impact the future of cryptocurrency investment.

Coin Informer welcomes you to the weekly crypto news update, where we bring you the latest news from the crypto world. From regulatory crackdowns in Hong Kong to lawsuits involving famous people in the crypto industry and taxation changes in Thailand, here’s the gist of what’s happening in the crypto space. Hong Kong implements strict Crypto regulation following JPEX Fraud Case After the JPEX fraud case, Hong Kong authorities are responding with strict law implementation. JPEX fraud involves an unlicensed crypto exchange and is now under strict supervision. Additionally, the Securities and Futures Commission (SFC) has received over 1,400 complaints about fraud, withdrawal issues, and declining wallet balances. Warning from the Government Regarding Crypto Chief Executive John Lee Ka-Chiu urged greater efforts to educate investors on the necessity of using platforms that have Securities and Futures Commission licenses. JPEX Fallout JPEX pushed its services through internet celebrities and money changers, resulting in withdrawal problems and decreased wallet balances for consumers. Therefore, to prevent users from withdrawing funds, the exchange increased withdrawal costs. Influencer detained Additionally, in connection with JPEX, influencer Joseph Lam (Lin Zuo) was detained. Educational Initiatives Formerly a crypto hub, Hong Kong is now focusing on teaching the public about the use of licensed platforms for crypto trading. Parents of famous FTX founder faces lawsuit over alleged misappropriation FTX, the bankrupt crypto exchange, has recently filed a lawsuit against Sam Bankman-Fried’s parents, Joseph Bankman and Barbara Fried. The complaint furthermore involves them being accused of exploiting their influence with FTX for personal gain. Involvement in FTX The plaintiffs contend that contrary to SBF’s representations, Bankman and Fried were deeply involved in FTX’s operations. Additionally, Bankman is accused of acting as a de facto officer and holding executive responsibilities. Profits and Expenses According to the lawsuit, Bankman and Fried benefitted from FTX Group, receiving a financial present and a luxury home. Additionally, the bankman allegedly used business funds for personal purposes. Allegations of Fraudulent Scheme Debtors claim that Bankman and Fried were either aware of or ignored warning indicators signaling their son’s involvement in a fraudulent scheme. A Google employee loses $90,450 in a cryptocurrency scam. Ethan Nguonly, a 22-year-old Google software developer, detailed his financial blunder of losing $90,450 by trading in crypto on margins using borrowed funds between November 2021 and June 2022. Investment Portfolio Nguonly had a sizable investment portfolio, but his crypto loss included both the original investment and remaining gains. Crypto Choices He began by investing in Bitcoin and Ethereum but then expanded into altcoins such as Shiba Inu and Dogecoin. He later purchased more Bitcoins by margin, resulting in increased losses amid a crypto market drop. Investment Lesson Nguonly recommends that people only invest with the money they have and stay out of excessively volatile cryptocurrencies. The “Stand with Crypto” campaign from Coinbase is aimed at swing states. Coinbase’s “Stand with Crypto” campaign, which debuted in August, advocates for crypto-friendly legislation in the United States. Swing States The campaign focuses on nine swing states, including New Hampshire, Nevada, Ohio, and Pennsylvania. Furthermore, according to a poll, 55% of people in these states are less likely to vote for anti-crypto presidential candidates. Cryptocurrency ownership According to the study, between 13 and 19% of respondents in these states own cryptocurrency. Crypto Day in D.C. Coinbase is hosting a “Stand with Crypto Day” in Washington, D.C., to advocate Bitcoin innovation and policy. Thailand intends to tax crypto traders’ overseas earnings. Thailand, which was previously a crypto-friendly country, is now planning to tax crypto dealers’ overseas revenue. This tax will be levied on residents who spend more than 180 days per year in Thailand. Specific Targets Residents investing in overseas stock markets through foreign brokerages and cryptocurrency traders will face a big problem with the tax implementation. Economic Stimulus Drive Thailand’s government has furthermore launched economic stimulus measures to revitalize the economy, including a blockchain-based statewide airdrop, which may explain the new tax policy. Concerns The tax judgment has caused alarm among expats who get pension income from abroad, albeit the specifics remain unknown. Bottom Line: Significant legislative developments, legal challenges, investment lessons, and taxation changes are taking place in the cryptocurrency industry. Stay tuned to Coin Informer for weekly updates on the ever-changing crypto scene. Finally, join us next week for the most recent cryptocurrency news highlights.

When we say the crypto world is ever-evolving and incredibly dynamic, we don’t just say it lightly; we truly mean it. Like, who knows before August that Bitcoin will crash in September? No one. But it did. In simple words, it is highly dynamic. So, this last week (September 13th – 16th), the crypto world witnessed many thrilling news, dramas, shocking research papers, and what more? Some signs of stability in prices. In a new edition of weekly crypto news, let’s discuss top headlines that made massive noise in a digital world. NYDFS Crypto Chief’s Resignation Fuels Speculation on Future Digital Currency Rules in New York The New York State Department of Financial Services (NYSDFS) is one of the influential organizations to regulate digital assets. On September 16th, 2023, shocking news surfaced on the interest related to crypto regulations and Deputy Superintendent of Virtual Currency at NYSDFS. According to sources, Peter Marton resigned from the position of crypto regularity chief at NYSDFS. The leading organization hasn’t made any public announcement related to this. However, seeing who’ll fill Marton’s position will be exciting. Bitcoin Surpasses $26.4K, Amidst Potential for Continued Selling Pressure The crypto world was surrounded by shock waves at the start of September when Bitcoin crashed, with its price reaching below $2500K.But things are changing gradually. On Friday (September 16th, 2023), the most prominent cryptocurrency witnessed a modest growth of 2%, with its prices standing at $26,463K compared to the previous week. On Monday morning (September 18th, 2023), the Bitcoin price gains at $26,758K. For the last four months, Bitcoin’s price has been going up and down. And when it goes up, many lenders and companies try to sell their assets to gain big profits. This practice can put downward pressure on the price and prevent it from rising even further. However, some leading firms like Franklin Templeton and Deutsche Bank are trying to trade or invest in Bitcoin.                                                                 Source: Coin Desk’s Live Bitcoin Index North Korea’ Allegedly Pilfers $240M in Crypto in 104 Days, According to Elliptic A Saturday night of crypto investors was turned into Monday mornings when they got to know about Elliptic’s research paper. The research accuses North Korea’s Lazarus Group of behind four recent attacks against crypto entities since July. Lazarus Group is charged with stealing $240M in crypto assets in the last 104 days. $100M in Atomic Wallet’s Case, $37.3M in Coinspaid’s hacking, $60M in Alphapo, and $41M funds stolen in Stacke.com. Moreover, they are also suspected of the recent attack against CoinEx, stealing around $54M. This news gained wide traction on social media, resulting in many people demanding an immediate investigation of whether the research paper is true or not. US DOJ Criticizes Sam Bankman-Fried’s ‘Intrusive’ Jury Questions Proposal: Sam Bankman-Fried was one of the most influential crypto leaders before November 2022. However, with the collapse of FTX, Sam’s career and reputation were also submerged like Titanic. Well, jokes apart. Last month, serious allegations were made against Sam Bankman, involving his name in many fraud activities. Recently, during his legal trial in New York Court, one news gained colossal limelight. In a letter to Judge Lewis Kaplan, persecutors wrote Sam Bankman’s proposed questions are ‘unnecessarily intrusive’, involving out-of-context questions. They argue numerous questions indicated Sam Bankman’s being a victim in this case. To accelerate this narrative, Sam’s defence team highlights his philosophical views and ADHD medication. It looks like, for Sam Bankman, the year 2023 is his 2020. Resignation of Brian Shroder, CEO of Binance U.S. & Elimination of 100 Jobs as a Part Restructuring Effort Binance is back in the news, but this time, not for its controversies but for internal disturbances. On September 13th, 2023, Binance. US announced that Brian Shroder is going to step down as its CEO. Norman Reed, one of the prominent individuals of Binance, will be the next CEO. Besides replacing Brain Shroder as CEO, a leading crypto exchange has also eliminated 100 jobs, resulting in the cut-down of 1/3rd of the company’s workforce. This may sound like an internal crisis in Binance US, but, in reality, this elimination is a part of a significant restructuring effort. As we all know, in the last few months, Binance has been fighting against SEC in a legal battle that has heavily impacted its working and reputation. Let’s see how this decision will help Binance US to bounce back in the game. What’s Next? Since the crypto world is all about ups and downs in prices, legal battles, controversies, and some websites exposing severe matters, it is pretty evident next week will be nothing different from others. Coin Informer, your ultimate provider of crypto news, will make sure to notify you about all the exclusive crypto information. Let’s wrap up this edition and keep your eyes on the clock and, obviously, our website for the next weekly crypto news article.

Japan is often associated with the mysterious creator of Bitcoin, that is Satoshi Nakamoto. It has always been the leading country regarding Cryptocurrency regulations. As the Japanese have a unique blend of traditional values and technological innovations. Which makes them pioneers in computer science and Cryptography. If we talk about the early days of Cryptocurrency, Japan stood out as a hub of Digital currency activities, as it was one of the early adopters of Bitcoin mining. The famous Mt. Gox, which handled millions of Bitcoin transactions, was also a Japanese company. The Overview of Crypto regulations in Japan: Despite the hacked incident in 2014 with Mt. Gox, Japan still chose not to block cryptocurrencies. Instead, it focused on consumer protection, making Cryptocurrency legal and recognizing it as a form of money in 2016. However, Cryptocurrency adoption in Japan needs to catch up to other nations. Only a small percentage of the population actively uses or owns these digital assets. Moreover, the recent developments in Japan’s cryptocurrency landscape indicate a greater shift toward accepting and utilizing these digital assets, including the government’s decision to award non-fungible tokens (NFTs) to local mayors in 2022. Furthermore, the introduction of stablecoins and a competitive Crypto exchange environment have contributed a lot to the evolving crypto ecosystem in this country. Japan’s Cryptocurrency Revolution for Startups In a significant development for the Japanese startup ecosystem, the government is reportedly poised to allow startups to raise public funds using Cryptocurrency instead of traditional stocks. This groundbreaking decision marks a departure from the conventional methods of capital generation and aligns with the global trend of using digital assets as a legitimate fundraising avenue. The updated system, as reported by the Japanese financial news site The Nikkei, primarily targets a category of funds known as Investment Business Limited Partnerships (LPS). This strategic shift signifies Japan’s determination to keep pace with the rapidly evolving landscape of financial technology and digital assets. Until now, Japan had lagged behind other nations in embracing digital assets fully. Let’s learn in more detail about this. Code Amendments and Crypto-Friendly Environment: In this significant move, Japan’s financial regulatory authority, the Financial Services Agency (FSA), aims to modify the tax code related to Cryptocurrencies as their goal is to help local businesses by sparing them tax payments at the end of the year, as they haven’t turned their digital assets into real money yet. This change is a big step in making things easier for businesses dealing with Cryptocurrencies. Prime Minister’s Commitment to Web3 Technology: Japan’s Prime Minister, Fumio Kishida, has said that the government wants to help Web3 technology grow. He talked about how Web3 can change society in a big speech at the WebX conference in Tokyo. It shows Japan wants to be a leader in new technology. The regulatory framework of Japan  The Japanese Financial Services Agency is in charge of monitoring the crypto sector. They have a well-established regulatory framework for Cryptocurrencies in Japan. The regulations for Cryptocurrency exchanges and token offerings have been significantly improved by their collaboration with Organizations like the Japan Security Token Association and The Japan Virtual Currency Exchange Association. Moreover, the government is also looking into NFTs and is making a Digital ID card, which signifies that they are open to new tech rules. Therefore, they want to be modern and fair regarding Cryptocurrency. Factors Influencing Cryptocurrency Adoption in Japan While these trends show Japan’s changing attitude towards digital assets. It is also important to remember that, compared to other countries, the uptake of cryptocurrencies in Japan has been modest. The adoption rate has been impacted by elements including the yen’s stability, the launch of stablecoins like JPYCoin, and the population’s age distribution shift. Final words: Japan’s decision to enable companies to raise funds through Cryptocurrency other than using stocks. It represents a significant step forward in adopting digital assets as a legal source of financing. Moreover, this step is consistent with the country’s commitment to supporting innovation and adapting to a changing financial landscape. At the same time, Japan has traditionally been conservative regarding cryptocurrency legislation. Furthermore, recent events such as tax breaks and the return of significant cryptocurrency exchanges indicate that Japan has established a more favorable atmosphere for cryptocurrency-related enterprises. Finally, the government’s concentration on Web3 and other developing technologies positions Japan as a significant contributor to the global cryptocurrency ecosystem.

“Sebastian Karl Greenwood jailed in $4 Billion Crypto Sacm, while the hunt for the missing co-conspirator remains the same” Key points: Karl Sebastian Greenwood, co-founder of the false cryptocurrency OneCoin, was sentenced to 20 years in jail in the United States. Over 3.5 million people worldwide were duped out of more than $4 billion by OneCoin. Greenwood pleaded guilty to counts of wire fraud and money laundering. Ruja Ignatova, also known as the ‘Cryptoqueen,’ remains on the FBI’s Most Wanted list. OneCoin was seen as a legitimate cryptocurrency, however, it lacked any real value. Greenwood’s sentence should act as a deterrent to Bitcoin fraud in the financial industry. Unraveling the OneCoin Scandal: Co-Founder Sentenced, ‘Cryptoqueen’ Still at Large Karl Sebastian Greenwood, co-founder of the infamous OneCoin pyramid scheme, has been sentenced to 20 years in a US prison for a momentous event in the world of cryptocurrencies. The case, which has received a worldwide spotlight, sheds light on one of the greatest cryptocurrency frauds in history, including more than $4 billion and over 3.5 million victims globally. The OneCoin Swindle: A $4 Billion Scam OneCoin, which was launched in Bulgaria in 2014, marketed itself as a reputable cryptocurrency with huge potential rewards. Investors were promised the chance to mine tokens and were attracted by the idea of a cryptocurrency identical to Bitcoin. In reality, OneCoin was a fraud with no true value on the blockchain. Moreover, this means to reward investors for bringing in new players. Karl Greenwood’s Position: ‘Global Master Distributor Karl Sebastian Greenwood, a dual citizen of the United Kingdom and Sweden, was a key contributor in the OneCoin operation. He was a “global master distributor” and oversaw the multilevel marketing network for marketing and selling the fake coin. Greenwood’s position enabled him to collect a sizable 5% of OneCoin’s monthly revenue from anywhere in the world, totaling more than $300 million. Ruja Ignatova, the elusive ‘Cryptoqueen,’ is still at large. While Greenwood was available in court, his co-conspirator and OneCoin’s face, Ruja Ignatova, also known as the ‘Cryptoqueen,’ is still on the run. Ignatova fled from the public eye in 2017, disappearing in Greece, and has not been seen since. She was accused of fraud and money laundering in 2017 and is now on the FBI’s Top Ten Most Wanted list. Greenwood’s Sentence: A Warning to Future Con artists Karl Sebastian Greenwood’s sentence of two decades in prison sends a strong message to anyone involved in Bitcoin fraud. The U.S. led this case. District Judge Edgardo Ramos, also ordered Greenwood to forfeit $300 million, the approximate amount he had collected from the fraudulent operation. This lengthy sentence has set an example to serve as a deterrent. Moreover, discourages others from exploiting the cryptocurrency ecosystem through fraud. The Search for the ‘Cryptoqueen’ Continues The mystery of Ruja Ignatova’s location continues to intrigue viewers. ‘The Missing Cryptoqueen,’ a BBC podcast, has been covering the search for Ignatova, probing her rise to notoriety as the public face of OneCoin and her subsequent disappearance. The FBI has offered a $250,000 reward for information leading to her capture, emphasizing the gravity of her alleged offenses. Conclusion The OneCoin story serves as an important lesson in the cryptocurrency industry, emphasizing the significance of conducting proper research and exercising skepticism when presented with investment offers that appear too good to be true. As the hunt for the ‘Cryptoqueen’ continues, the case against OneCoin’s co-conspirators emphasizes the importance of regulatory vigilance and investor education in the growing digital currency world.

World leaders from the Group of Twenty (G20) nations gathered in New Delhi for a historic meeting to discuss significant global challenges, including cryptocurrency regulations. Moreover, G20, which represents the world’s most powerful economies, signed an agreement of consensus to accelerate the adoption of a cross-border framework for crypto assets, bringing in a new age of international cooperation. This post will walk you through some of the major highlights from the G20 summit debate on cryptocurrency regulation. G20 Unites for Global Crypto Regulation While the G20 summit highlighted various issues happening around the world, regulating cryptocurrencies remained a hot topic.  Moreover, as the world’s economic powerhouses agreed on a comprehensive crypto framework, the Economic Cooperation and Development (OECD) suggested the Crypto-Asset Reporting Framework (CARF). This framework, furthermore, gained a lot of support. This approach aims to give tax authorities better visibility into crypto transactions and the people behind them. Discussion on crypto transactions Under the Crypto-Asset Reporting Framework (CARF), nations around the world will contribute in an automatic annual exchange of information based on cryptocurrency transactions across borders. This exchange includes transactions made on unregulated cryptocurrency exchanges and wallet providers. This is a big step towards increasing accountability as well as transparency in the crypto sphere. Which Countries will be affected The forthcoming framework will have a direct impact on Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States, as well as the European Union. Moreover, with G20 member countries holding two-thirds of the world’s population, this joint effort will have a significant impact worldwide. India’s Crypto Regulation Evolution The Indian government’s view on cryptocurrency has shifted dramatically. The Reserve Bank of India and the government have changed their minds on outright bans on digital currencies. According to a senior government official, India recognizes the need for global consensus on cryptocurrency regulation, as unilateral action would be unfeasible. How G20 has impacted crypto policy in India G20’s support for the Financial Stability Board’s (FSB) ideas for regulating crypto assets has been critical in defining India’s evolving crypto policy. G20 Finance Ministers and Central Bank Governors approved the FSB’s plan for a unified regulatory framework addressing risk factors such as money laundering and terror funding. Striking for Regulatory Uniformity India, like the other G20 countries, strives to strike a balance between effective regulation and financial stability. The view is that regulatory consistency is critical to preventing crypto trade from shifting to countries with lax regulations. A global coordination effort is undertaken to execute FSB recommendations consistently. The IMF’s Role in Global Crypto Regulation The International Monetary Fund (IMF) has come out as a crucial stakeholder in developing worldwide crypto regulations. Gita Gopinath, Deputy Managing Director of the IMF, emphasized the necessity of taking a comprehensive approach that considers not only regulatory factors but also macro-financial effects. Global Opposition to Cryptocurrency Ban Gopinath underlined that the G20 countries have no intention of banning cryptocurrency. Instead, the emphasis is on building a shared set of principles to govern regulatory action. This global agreement emphasizes its dedication to responsible and balanced cryptocurrency regulation. The Beginning of a New Era in Crypto Transparency The crypto sector is set for revolution as the G20 moves forward with its regulatory ambitions. The “Wild West” attitude is intended to be replaced by improved data and accessibility. Hence, this will distinguish between volatile investments and payment-oriented crypto assets. Bottom Line: Finally, the G20 conference in India was a turning point in the drive for worldwide cryptocurrency regulation. The world’s economic leaders have set the groundwork for a more transparent and secure crypto ecosystem, emphasizing cooperation over prohibition in their goal of responsible governance. Hence, India, like the other countries, is preparing to rebalance its crypto policy in line with the developing global consensus.