Bitcoin

Veritaseum Sued Coinbase Over Patent Infringement, Seeks $350 M For Settlement

Coinbase gets into trouble with another lawsuit of patent infringement, among its other legal issues. A blockchain-based fintech software company in New York, Varitaseum Capital LLC, sued the crypto exchange for infringing its patent transfer technology for several exchange services. Reggie Middleton, the founder of Veritaseum, filed the patent infringement case against Coinbase in Delaware […]

Altcoins

Web3 Altcoin Inks Deal With New England Patriots and Jumps by 25% This Week, Thwarting Crypto Market Woes

A Web3 altcoin is surging this week amid news that it inked a sponsorship deal with the New England Patriots football team. Through a multi-year partnership with Kraft Sports + Entertainment, the blockchain infrastructure solution company Chain (XCN) is now the “official blockchain and Web3 sponsor” of the Patriots, the New England Revolution soccer team, […]

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Ripple Defendants File Motion to Block SEC From Delaying its Response to Amici Curiae Briefs

SEC Clinches Victory Judge Orders Ripple To Produce Video And Audio Recordings Of Its Internal Meetings

In another twist of the legal tussle between the U.S. Securities and Exchange Commission (SEC) and Ripple, the U.S. blockchain company has filed a motion objecting to the SEC’s suggestion that it will need more time or pages to respond to briefs submitted by amici curiae.  The latest dispute is arising from a motion filed […]

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WazirX Announces Delisting of USDC, USDP, and TUSD in a Clear Boost to BUSD

Stablecoins Are Great For Payment But Bitcoin Is The Best Answer For Inflation, Says Facebook’s Crypto Chief

India-focused crypto exchange WazirX will unlist three leading stablecoins — Circle’s USDC, Paxos’ USDP, and TrueUSD’s TUSD — effective September 26. In a statement, the company said that users could withdraw their funds by October 5, after which these stablecoins will automatically be converted into BUSD. “WazirX has stopped deposits of USDC, USDP, and TUSD, […]

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Element and Fundamental Labs supporting the Era7 World Cup Tournament, building the first EsportsFi Ecosystem on Web3

Element and Fundamental Labs supporting the Era7 World Cup Tournament, building the first EsportsFi Ecosystem on Web3

Era7: Game of Truth, a BNB Chain TOP gamefi project, launched the first NFT TCG World Cup Tournament on September 11. The tournament has attracted continuous attention from partners in multiple fields of the blockchain industry. Fundamental Labs, a globally renowned crypto venture capital firm in the web3.0 field, and Element, the world’s first multi-chain […]

Bitcoin Crypto News

UK Introduced The ‘Seize, Freeze and Recover’ Crypto Bill

The government of the United Kingdom introduced the “Seize, Freeze, and Recover” crypto asset bill into Parliament. This new bill provides law enforcement agencies with more power to seize, freeze, and recover crypto assets. The bill specifically targets those who are engaged in criminal activities such as money laundering, drugs, and cybercrime, along with crypto, […]

Altcoins

Cardano Creator Charles Hoskinson Says Hundreds of Crypto Projects Gearing Up for Launch After Blockchain Upgrade

Charles Hoskinson says many projects are preparing to launch on the Cardano (ADA) blockchain after its Vasil hard fork upgrade. Hoskinson, the Cardano co-creator, says in a tweet that there are hundreds of projects announcing they will advance using ADA’s new capabilities become available to developers next week. “I’ve seen hundreds of tweets like this […]

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Tether Reveals USDT Stablecoin Is Now Supported by Polkadot

tether-reveals-usdt-stablecoin-is-now-supported-by-polkadot

Tether is now live on 15 different blockchain networks, according to the company’s latest announcement on Friday as the firm detailed that it is now supported by the Polkadot blockchain system. The stablecoin’s new support follows the token being added to the Near Protocol 11 days ago. The news further follows Tether being ordered by More

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Crypto News

Fall Of Crypto King, A Canadian Driven-Lambo Records $35M Losses

A self-acclaimed Crypto King has witnessed piles of demands from 140 of his investment clients. The 23-year-old tycoon runs a personal company known as AP Private Equity Limited. His investors want a part of his firm’s total of $35 million. The CBC report stated that the creditors claimed they gave their funds to Aiden Pleterski. The aim was for investment in cryptocurrency and foreign exchange on their behalf. Hence, they must uncover where the Crypto King has laid all their money. Related Reading: Polygon (MATIC) Downward Trajectory Faces Resistance At $0.94 Level Investigation Counsel PC has made a series of complaints regarding Pleterski. These include a bankruptcy trustee’s report, court filings, creditors meeting minutes, and other complaints. Investigation Uncovers Luxury Lifestyle Of Pleterski The investigation revealed that Pleterski has 11 vehicles and leased four luxury cars. Also, he resides in an expensive lakefront mansion rented for $45,000 per month. In addition, he frequently uses private jets to fly around without stress. The founder of Investigation Counsel PC, and the fraud recovery law company, Norman Groot, reacted to their discovery. He noted that Pleterski’s extravagant lifestyle does not provide the exact cumulative amount of missing money. Groot mentioned that the investors had warning signs of massive yields that could have cautioned them. He highlighted that the 5% weekly interest doesn’t exist in an open market. Also, a 23-year-old will not turn into the next Bill Gates. So, it is best to communicate with a conservative person while getting another opinion. Presently, some assets worth about $2 million has been confiscated from Pleterski. These include a Lamborghini, two BMWs, and two McLarens. The bank accounts and assets of Pleterski were frozen due to an initial lawsuit raised against him. The present bankruptcy proceedings have superseded the freeze. It serves as a suitable option for the investors for the recovery process. This is because bankruptcy proceedings are superior when it comes to civil claims. One of the creditors, Diane Moore, commented on her $60,000 investment contract. She stated that it would yield up to 10% – 20% fortnightly. Also, she was to receive a considerable share of a 70-30 split on all capital gains. She said the entire investment depends on trust and claimed to be about $50,000 pocket out. Pleterski Disputes Crypto Investment Claims Micheal Simaan, the lawyer for Pleterski, disputed the accusation against his client. Simaan stated that his client has fully cooperated with the bankruptcy proceedings. The lawyer reported that Pleterski’s into crypto began from his teenage age. By making massive success through the bull markets, many investors became interested and offered their money for investment to get rich. Related Reading: Aave (AAVE) Attracting Whales Over Past Few Months – Will It Spur Price Rally? On his part, Pleterski stated that the problem with his investment firm is bad trades and margin calls. The effect became intense due to the prevailing crypto winter and the price crash in the market. He reported that he lost all the money from his investors from late 2021 to the beginning of 2022. Featured image from Pixabay, Chart: TradingView.com