Amid the sharp pullback across Bitcoin (BTC) and the wider crypto market this week, the Luna Foundation Guard (LFG) is set to deploy $1.5 billion worth of capital to “help protect” Terra USD’s peg to the U.S. dollar. The Singapore-based nonprofit LFG is part of the Terra (LUNA) ecosystem and is tasked with collateralizing the…
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The CEO and co-founder of crypto mining and investment platform Mining Capital Coin (MCC) Luiz Capuci Jr. has been indicted by the Department of Justice (DOJ) for “allegedly orchestrating a $62 million global investment fraud scheme.” The DOJ is charging Capuci with conspiracy to commit wire fraud, conspiracy to commit securities fraud, and conspiracy to…
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A new crypto litigation tracker from commercial law firm Morrison Cohen LLP shows details of more than 300 active and settled court cases since 2013. Morrison Cohen is a New York-based firm that caters to large financial institutions, entrepreneurs and early-growth stage companies, and specializes in capital markets, business litigation, real estate and bankruptcy to…
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Institutional investors shed $133 million worth of Bitcoin (BTC) investment products last week, marking the largest week of outflows since June last year. According to the latest edition of CoinShares’ weekly Digital Asset Fund Flows report, the overall digital asset fund outflows for the week ending April 29 totaled $120.1 million, with the large Bitcoin…
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Florida-based ratings and research firm Weiss Ratings has fired out a warning over the risks of crypto mortgages amid the current economic climate in the United States. The company paid particular focus to Milo, a digital banking startup from Miami that offers 30-year mortgages backed by Bitcoin (BTC), Ethereum (ETH), or stablecoins as collateral. The…
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Billionaire investor Warren Buffett has once again slammed Bitcoin, asserting he “wouldn’t take” all of the BTC in the world for just $25. The 91-year-old, with a net worth of around $124 billion, is an avid crypto skeptic that once called Bitcoin “rat poison squared.” His arguments often stem around digital assets offering no tangible…
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Australian Senator Andrew Bragg hasmet with U.S. Senator Cynthia Lummis to discuss potential collaboration on cryptocurrency regulation between the two countries. Senator Bragg is a crypto-friendly politician from the ruling Liberal Party (a conservative center right party) that has been one of the driving forces behind a proposed forward-thinking regulatory scheme in Australia. Last year…
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SkyBridge Capital is working on pivoting the majority of its assets under management (AUM) to digital assets, as the sector represents “tremendous growth” for the firm. The hedge fund was founded by former U.S. politician Anthony Scaramucci in 2005, and first delved into Bitcoin (BTC) in late 2020. The firm also has money deployed in…
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A study from the Bank of Canada found that Bitcoiners on average have lower financial literacy than those who don’t own Bitcoin (BTC). The study was compiled from four years of annual surveys from 2016 to 2020, with the sample sizes ranging anywhere from 1,987 to 3,893 respondents. The Bank of Canada’s full study is…
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Australian financial compliance enforcement agency AUSTRAC has released two new guides to help entities to spot when customers are using crypto for illicit means, or when they are being forced to pay the creators of ransomware. But it warned that debanking customers merely on suspicion of such activity was a harmful practice with serious negative…
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