Business

US lawmakers say crypto industry has a ‘tech bro’ problem hurting innovation

[ad_1] According to some United States lawmakers in the House Financial Services Committee, the lack of diversity in the financial technology space could be hurting many companies’ bottom lines.In a Thursday virtual hearing on “Combatting Tech Bro Culture,” U.S. lawmakers and witnesses discussed how women and people of color were underrepresented in leadership positions in the financial technology industry, including crypto firms. Massachusetts Representative Stephen Lynch cited data that only
ALTCOIN

Analysts identify 3 critical flaws that brought DeFi down

[ad_1] The cryptocurrency market has had a rough go this year and the collapse of multiple projects and funds sparked a contagion effect that has affected just about everyone in the space. The dust has yet to settle, but a steady flow of details is allowing investors to piece together a picture that highlights the systemic risks of decentralized finance and poor risk management.Here’s a look at what several experts are
Business

Coinbase providing customer geolocation data to ICE: Report

[ad_1] A new report has indicated that crypto exchange Coinbase has provided Immigrations and Customs Enforcement (ICE) agents with a “suite of features” intended for tracking the company’s customers. According to the report, ICE has been granted access to an intelligence-gathering application, called Coinbase Tracer, that provides a variety of forensic data tracking capabilities.U.S. Immigration and Customs Enforcement is an government agency under the Department of Homeland Security. The primary
Business

‘Cryptoqueen’ Ruja Ignatova makes FBI’s Ten Most Wanted list

[ad_1] “Crypto” is often used as an honorific inside the community. United States Securities and Exchange Commission member Hester Peirce is called Crypto Mom for her steadfast support for digital assets, and Time magazine crowned Vitalik Buterin the Prince of Crypto. When Ruja Ignatova was bestowed the title “Cryptoqueen” in a 2019 true-crime podcast, however, it was with far less endearment. Ignatova was the creator of OneCoin, a purported cryptocurrency that
Business

FTX on the verge of purchasing BlockFi in $25M fire sale: Report

[ad_1] Cryptocurrency exchange FTX is close to purchasing digital asset lender BlockFi's remaining assets for $25 million, according to CNBC.According to sources close to the matter, BlockFi's equity investors were wiped out and are now writing their positions off at a loss. In addition, the FTX deal could take multiple months to close, opening up the possibility that the price tag could shift over that period. In June 2021, BlockFi
Business

Traders debate whether Solana (SOL) is a buy now that it’s down 87% from its all-time high

[ad_1] The crypto sector is caught in a deep correction and recent reporting shows that a majority of altcoins are more than 70% down from their 2021 highs. Solana is among that list and investors are on the fence about whether the token has strong enough fundamentals to warrant buying SOL at its current value. Data from Cointelegraph Markets Pro and TradingView shows SOL is down 87.5% from its all-time high
Business

CFTC brings $1.7B fraud case involving Bitcoin against South African national

[ad_1] The United States Commodity Futures Trading Commission, or CFTC, has taken enforcement action against a South African national in what the regulatory body called its “largest fraudulent scheme involving Bitcoin.”In a Thursday announcement, the CFTC said it had filed a civil enforcement action in federal court for fraud and registration violations against Cornelius Johannes Steynberg. The South African national allegedly created and operated a global foreign currency commodity pool