How Indian Scammers Use Tether’s USDT to Funnel Funds Abroad Indian scammers use Tether’s USDT to launder funds outside the country, raising serious concerns about financial crimes facilitated by stablecoins. Recent reports from Rajasthan, India, shed light on cybercriminal networks that have exploited USDT, a popular stablecoin, to transfer illicit funds internationally. Law enforcement officials in Rajasthan recently arrested multiple money mules who converted over INR 1 crore (approximately $115,546) into Tether (USDT). These funds, sourced from digital scams like “digital arrest” frauds, were then funneled to exchanges in Dubai and France, where masterminds behind these schemes are suspected to…
Author: Crypto Team
The Rise and Fall of American Coin: How Trump Rumor Triggered a 400% Pump American Coin Pumps Over 400% Amid Trump Rumor, Then Crashes On January 19, the cryptocurrency world was abuzz as American Coin pumps soared by more than 400%. This Solana-based meme coin, bearing the ticker symbol ‘USA,’ experienced an extraordinary rally fueled by speculation about a connection to former U.S. President Donald Trump. However, the excitement was short-lived, with the token plummeting soon after. American Coin pumps began when the token, which had been relatively stagnant for three months, skyrocketed to $0.0000254 from an intraday low of…
Ethereum Price Rally Fueled by Derivatives Traders: Is a $4,500 Target Realistic? Ethereum price rally has been a hot topic among crypto enthusiasts, with derivatives traders betting big on a potential surge. Ethereum, the second-largest cryptocurrency by market capitalization, holds steady above $3,300, even as it faces market fluctuations. In this blog, we’ll analyze whether Ethereum’s price can reach $4,500 amidst bullish sentiment from derivatives traders and on-chain activity. As of January 2025, open interest in Ethereum’s derivatives contracts has surpassed $30 billion, and options trade volume spiked nearly 47% in the last 24 hours, according to Coinglass. Bullish traders…
How Polygon Partners with Reliance Jio to Revolutionize Web3 for 450 Million Users Polygon Labs, a renowned blockchain platform, has achieved a significant milestone by partnering with Reliance Jio, India’s largest telecom operator. This collaboration, announced on January 15, aims to bring blockchain capabilities to 450 million Indians. As Reliance Jio integrates Polygon’s technology stack, it plans to enhance its existing applications and services with blockchain and Web3 capabilities, marking a transformative moment in India’s digital ecosystem. Reliance Jio, a subsidiary of Reliance Industries led by Mukesh Ambani, has consistently been at the forefront of innovation, from pioneering 4G technology…
Tom Emmer Takes Charge as Vice Chair of Digital Assets, Voicing Concerns Over SEC’s Gensler Tom Emmer, a prominent figure in U.S. politics, has been appointed Vice Chair of the Digital Assets Subcommittee, a move that signals a new direction for the regulation of cryptocurrencies, financial technology, and artificial intelligence. This development underscores Emmer’s dedication to fostering a pro-crypto environment and advocating for clear and effective regulations in the rapidly evolving digital assets sector. The Digital Assets Subcommittee, established in 2023, plays a pivotal role in shaping policies around cryptocurrencies, AI integration in financial services, and advancements in financial technology.…
How Decentralized Finance Price Discovery Can Solve Centralized Finance Challenges Decentralized Finance Price Discovery has become a pivotal topic in the crypto ecosystem, as the inefficiencies in centralized finance (CeFi) continue to hinder market fairness. Recent concerns raised by Yoann Turpin, co-founder of Wintermute, emphasize the pressing need for increased adoption of decentralized finance (DeFi) to improve price transparency and inclusivity. Centralized exchanges (CEXs), like Binance, often facilitate private arrangements between large buyers and sellers. While this may streamline operations for institutional players, it creates significant challenges for smaller traders, leaving them at a disadvantage. Turpin highlights that these opaque…
Understanding the CFTC Review of Crypto.com Futures Contracts for Major Sports Events Crypto.com futures contracts have recently come under scrutiny as the Commodity Futures Trading Commission (CFTC) mulls a potential 90-day review of these innovative trading products. These contracts allow investors to bet on the outcomes of major sports events, including the highly anticipated Super Bowl. The CFTC’s decision could have significant implications for the burgeoning crypto and sports betting industries. According to a Bloomberg report published on January 14, the CFTC is evaluating whether these futures contracts comply with the regulations governing betting markets. Historically, the agency has resisted…
How Swiss Crypto Bank Sygnum Secured $58M and Reached $1B Valuation Swiss crypto bank Sygnum has made headlines yet again by raising $58 million in a strategic growth round, propelling its valuation to over $1 billion and officially earning its unicorn status. This significant milestone demonstrates the bank’s innovative approach and strategic planning in the crypto banking industry, making it one of the most trusted digital asset banks globally. The funding round was announced on January 14 and was oversubscribed, with Bitcoin-focused venture capital firm Fulgur Ventures leading as the cornerstone investor. Alongside Fulgur Ventures, a mix of new and…
Robinhood SEC Settlement Explained: Key Details and Implications Robinhood SEC Settlement: $45 Million Fine for Securities Violations Robinhood, the popular financial services platform, has recently made headlines with its $45 million settlement with the United States Securities and Exchange Commission (SEC). This Robinhood SEC settlement addresses significant securities violations committed by Robinhood Securities LLC and Robinhood Financial LLC. These violations occurred between 2018 and April 2024 and spanned issues such as failure to safeguard customer data, inadequate identity theft protections, and improper short-selling practices. The SEC’s investigation revealed over 10 violations of federal securities laws by the two Robinhood entities.…
Gryphon Digital acquires $18.7m site in Canada as part of its transformative strategy to expand its Bitcoin mining operations and AI infrastructure capabilities. This monumental deal includes the purchase of an 850-acre industrial site in Southern Alberta from Captus Energy for $18.7 million. The site is powered by dual natural gas supply, offering scalability up to 4 gigawatts in capacity, making it a strategic asset for Gryphon’s long-term growth. The agreement between Gryphon Digital and Captus Energy, expected to finalize in April 2025, includes $2 million worth of restricted shares granted to Captus’ management team. If the deal falls through,…