Pakistan’s plan to use surplus electricity for crypto mining has hit a roadblock after the International Monetary Fund (IMF) reportedly rejected a proposal to offer subsidized power to energy-intensive industries, including Bitcoin miners. Pakistan’s Secretary of Power Fakhre Alam Irfan told the Senate committee on energy that the IMF claimed such measures could distort the…
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US federal prosecutors seized $40,300 in cryptocurrency recovered from an email scam that impersonated the Trump-Vance Inaugural Committee, according to a complaint filed by US Attorney Jeanine Ferris Pirro. The scheme tricked a donor into sending $250,300 worth of USDt (USDT) stablecoin on the Ethereum blockchain to scammers posing as committee officials, the Department of…
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Binance Pay has partnered with French fintech Lyzi to enable over 80 businesses across the French Riviera to embrace cryptocurrency payments, according to a Wednesday press release. The rollout, spanning cities including Cannes, Nice, Antibes and Monaco, would integrate digital assets into the region’s luxury tourism and retail economy. The French Riviera, also known as…
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A US bankruptcy judge ruled that Celsius Network’s multibillion-dollar lawsuit against Tether can proceed, denying in part Tether’s attempt to dismiss claims that it “improperly” liquidated Celsius’s Bitcoin collateral during the crypto lender’s collapse. According to court documents filed in New York on Monday, Celsius alleges that Tether (USDT) executed a “fire sale” of over…
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United Kingdom-based web design and marketing firm The Smarter Web Company has expanded its Bitcoin treasury, purchasing an additional 230.05 BTC for 17.97 million British pounds ($24.7 million) at an average price of 78,103 pounds ($107,126) per coin. The London-listed firm now holds 773.58 BTC acquired at an average price of 78,022 pounds ($107,015), bringing…
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Four North Korean nationals were charged in the state of Georgia with wire fraud and money laundering after posing as remote IT workers at US and Serbian blockchain companies and stealing almost $1 million in crypto, prosecutors said Monday. According to the US Department of Justice (DOJ), Kim Kwang Jin, Kang Tae Bok, Jong Pong…
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Some crypto startups are raising concerns over Kenya’s proposed virtual asset service providers (VASP) Bill, warning it could hand outsized influence to a Binance-linked lobby group, potentially undermining fair competition in the country’s digital asset industry. According to disclosures seen by The Kenyan Wall Street, a private think tank called the Virtual Asset Chamber of…
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More than a quarter of South Koreans in their 20s to 50s now own digital assets, with their crypto investments making up 14% of their total financial portfolios, according to a new report from the Hana Institute of Finance released Sunday. The study, titled 2050 Generation’s Virtual Asset Investment Trends, shows that interest in crypto…
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Crypto cards are beating traditional banks in Europe when it comes to small purchases, with 45% of crypto-linked card transactions under 10 euros ($11.7) — a category where cash has historically dominated. According to a report by CEX.IO shared with Cointelegraph, crypto card holders are showing spending patterns that mirror traditional bank card users while…
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A man at the center of a massive crypto Ponzi scheme will spend nearly eight years behind bars after a federal judge handed down a 97-month prison sentence in Brooklyn on Friday. Dwayne Golden, 57, was convicted of wire fraud and money laundering for his role in orchestrating scams through three digital asset firms, EmpowerCoin,…
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