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 […]
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, […]
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 […]
The Pentagon is spearheading a new program in order to deeply look into different types of cryptocurrencies and find out what kind of risks they could pose to national security and law enforcement, a Friday report published by The Washington Post disclosed. The Defense Advanced Research Projects Agency, the research and development arm of the […]
Crypto mining data center company Compute North is the latest casualty in the ongoing harsh crypto winter that has of late forced some of the biggest crypto companies to close shop. Compute North filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of Texas on Friday, citing mounting pressure […]
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, […]
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 […]
Like thousands of crypto mining enthusiasts around the world, you may have also heard of Bitramo. This technology startup currently holds the distinction of offering the market’s most profitable crypto miners. Their Ramo1, Ramo 2, and Ramo X miners can be used to mine Bitcoin, Litecoin, Ethereum, and Monero, and earn 100% ROI in less […]
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, […]
The U.S. Commodity and Future Trading Commission (CFTC) has filed a case against an autonomous decentralized organization (DAO) protocol, bZeroX, and its founders, Tom Bean and Kyle Kistner, for operating illegal activities. The Commission also penalized the platform for $250,000 and ordered it to be ceased and desist from the industry. As per the CFTC’s […]
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 […]
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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Iris Energy’s filing suggested the company planned to use proceeds from the sale to fund growth initiatives including purchasing mining hardware and developing data centers.
Bitcoin (BTC) mining data center operator Compute North filed for Chapter 11 Bankruptcy, adding that CEO Dave Perrill resigned earlier in September.
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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