modernsociety
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bob wrote a new post
1 year ago
Kraken to Share 42,000 Users' Data with IRS in Compliance with Court Order
United States-based cryptocurrency exchange Kraken has announced that it will comply with a court order to share the data of 42,000 users with the Internal Revenue Service (IRS). The court order, issued by the…
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1 year agoMillions in Crypto Stolen from LastPass Users in Recent Data Breach
At least 25 individuals have reportedly fallen victim to a data breach that affected password storage software LastPass, resulting in the loss of $4.4 million in cryptocurrency across 80 wallets. The breach…
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1 year agoMillions in Crypto Assets Stolen from LastPass Users in Recent Hack
Users of the LastPass password manager application have suffered a significant loss of $4.4 million worth of crypto assets in a single day. This comes a year after LastPass disclosed a previous security breach…
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1 year agoFTX CEO Defends Actions in Testimony, Emphasizes Errors and Political Contributions
Sam “SBF” Bankman-Fried, the CEO of FTX and Alameda Research, testified in his ongoing criminal trial in the Southern District Court of New York. He denied any wrongdoing between the two companies but admitted to…
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1 year agoElon Musk's X Payments Set to Revolutionize Banking by 2024
Elon Musk, the owner of X (formerly known as Twitter), recently revealed new details about the company’s planned payment services. During an all-hands staff meeting, Musk stated that the app will cover almost all a…
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1 year agoTaiwan Introduces Bill to Regulate Crypto Industry and Protect Investors
Taiwan has introduced a new bill called the “Virtual Asset Management Regulations Draft” in an effort to regulate its growing virtual asset market. The bill aims to establish a comprehensive regulatory fra…
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1 year agoElon Musk's Plans to Turn X into a Complete Financial Platform Spark Speculation about Dogecoin Integration
Elon Musk, the world’s richest man, has revealed his plans to transform X (formerly Twitter) into a comprehensive financial platform by the end of 2024. While it is unclear if cryptocurrencies, specifically D…
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bob wrote a new post
1 year agoFTX CEO Defends Actions in Testimony, Emphasizes Errors and Political Contributions
Sam “SBF” Bankman-Fried, the CEO of FTX and Alameda Research, testified in his ongoing criminal trial in the Southern District of New York. Bankman-Fried denied any wrongdoing between the two companies but adm…
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bob wrote a new post
1 year agoRipple CLO and XRP Community Support SEC Commissioner's Stance on LBRY Lawsuit
Stuart Alderoty, the Chief Legal Officer of Ripple Labs, and the XRP community have shown their support for SEC Commissioner Hester Peirce’s stance on the LBRY lawsuit. Alderoty expressed gratitude towards C…
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1 year agoLong-Term Opportunities and Risks for Investors
The rapid increase in interest rates poses a risk of financial accidents, as seen with the crisis of American regional banks and the collapse of Swiss bank Credit Suisse. Despite the quick rise in interest rates,…
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1 year agoFTX Co-Founder's Shocking Testimony Reveals Lack of Cryptocurrency Knowledge and Management Mistakes
During the trial of Sam Bankman-Fried, co-founder of FTX crypto exchange, shocking revelations have emerged about his understanding of cryptocurrency. Bankman-Fried admitted to knowing very little about…
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1 year agoFTX Founder Testifies About $8 Billion Shortfall Leading to Collapse
Sam Bankman-Fried (SBF), the former billionaire and founder of FTX and Alameda Research, testified in court about the $8 billion shortfall that led to the collapse of the companies. SBF stated that he was…
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1 year agoKraken to Suspend Trading of Multiple Cryptocurrencies in Canada
Kraken, a popular cryptocurrency exchange, has announced that it will suspend transactions involving several digital assets in Canada. The affected assets include USDT, DAI, WBTC, WETH, and WAXL. The decision comes…
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1 year agoGemini Files Lawsuit Against Genesis Over $1.6 Billion in Bitcoin Collateral
Gemini, a cryptocurrency exchange, has filed a lawsuit against Genesis Global Holdco, a bankrupt crypto lender, over the fate of shares of Grayscale Bitcoin Trust (GBTC). These shares were used as collateral for…
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1 year agoFormer FTX CEO Testifies on Relationship and Political Donations in Court
Sam “SBF” Bankman-Fried, the former CEO of FTX, testified in court regarding his relationship with Caroline Ellison and political donations from the crypto exchange. Bankman-Fried claimed that he did not dis…
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1 year agoActive ETFs Gain Momentum as Investors Embrace Both Active and Passive Strategies
Active ETFs are gaining popularity among investors as market conditions shift towards active management. However, experts suggest that it shouldn’t be a choice between active or passive investing, but rather a c…
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1 year agoConcerns Raised Over Crypto Industry's Role in Illicit Financial Transactions
Amid the global crackdown on financial crimes and terrorism funding, the US government has expressed concerns about certain companies in the crypto asset industry. The government believes that these entities are…
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1 year agoGemini Sues Genesis Over $1.6B Worth of Grayscale Bitcoin Trust Shares in Collateral Dispute
Gemini Trust Co. has filed a lawsuit against Genesis Global Capital, seeking to recover $1.6 billion in collateral for Gemini customers. The lawsuit alleges that Genesis improperly withheld collateral that was…
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1 year agoFederal Reserve and Bank of England Discuss Central Bank Digital Currencies and Stablecoin Regulation
The Federal Reserve Board is actively researching a central bank digital currency (CBDC) and related technologies, according to Vice Chair Michael Barr. The focus of their research is on the system architecture,…
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1 year agoUS Deputy Treasury Secretary Warns Crypto Companies to Address Illicit Finance Concerns
The U.S. Deputy Treasury Secretary, Wally Adeyemo, has warned digital asset companies about the need to prevent illicit financial flows. Speaking at London’s Royal United Services Institute, Adeyemo highlighted t…
