Author: CryptoHoppers

Thomas John Sfraga, known as “TJ Stone,” entered a guilty plea to wire fraud charges in a Brooklyn federal court on Thursday. According to the U.S. Department of Justice, Sfraga was accused of deceiving investors with the promise of up to 60% returns within three months through a non-existent cryptocurrency digital wallet. Instead of fulfilling these promises, he allegedly diverted these funds for personal use and to placate previous victims of his fraudulent activities. “For years, Sfraga brazenly lied to friends, neighbors, and investors to swindle over $1.3 million of their hard-earned life savings,” commented Breon Peace, the U.S. attorney…

SKUx inks an exclusive deal with Visa to expedite digital transformation for specific business houses and FMCG firms. These organizations employ SKUx’s payment-focused services to support a variety of consumer use cases. These include client intake, loyalty issues, and a whole lot more. SKUx is significantly impacting the consumer goods vertical, an industry that appears to be experiencing substantial financial losses due to dubious operations and overall inefficiency. SUVx employs its digital payments platform to revolutionize the prevailing system, addressing all of its shortcomings and introducing innovative approaches to problem-solving. A multitude of prominent brands are integrating with the SKUx…

Bitcoin has long been recognized as the pioneer and leader in crypto, However, as the demand for faster, cheaper, and more efficient transactions continues to grow, Bitcoin’s limitations have become increasingly apparent. Enter Merlin Chain, a Layer 2 solution designed to address these challenges and unlock the full potential of the Bitcoin ecosystem. By leveraging advanced technologies such as Zero-Knowledge Rollups (ZK-Rollups), decentralized oracle networks, and on-chain fraud proof modules, Merlin Chain aims to provide a scalable, secure, and cost-effective solution for Bitcoin users and developers. Bitcoin’s Scalability Challenges As the number of users and transactions on the Bitcoin network…

Michael Burry, an investor famous for making a fortune by anticipating the 2007 subprime mortgage crisis, made a sizable bet on physical gold. According to regulatory filings, Burry’s Scion Asset Management purchased over 440,000 Sprott Physical Gold Trust units, a closed-end fund that invests and holds its assets in physical gold bullion. Big Short’s Investor […] Source link

Two U.S. senators have criticized the Department of Justice (DOJ)’s new interpretation of “money transmission,” which extends requirements to non-custodial software, citing concerns over its impact on crypto networks and financial innovation. “I’m concerned the DOJ’s interpretation would treat software developers as criminals for merely writing and publishing code used by others,” one of the […] Source link

Ongoing investigations reveal that Solana-based platform Pump.fun, which facilitates token launches, has reportedly been exploited through flash loans to manipulate its bonding curve. The Gotbit Hedge Fund flagged concerns on social media, stating, “Pumpfun might be under attack. This wallet: [Solscan link] is buying all tokens on Pumpfun within minutes to fill bonding curve to 100%. Raydium listing stuck.” The exploit was detailed by a user known as SOLCircle on social media platform X. The exploiter, identified by the pseudonym Stacc, reportedly employed a crypto loan service to borrow sufficient Solana (SOL) tokens. These tokens were then used to purchase…

Share this article Spot Bitcoin exchange-traded funds (ETFs) appeared in 937 professional firms’ 13F filings in the US, shared Vetle Lunde, senior analyst at K33 Research. In stark contrast, gold ETFs only saw investments from 95 professional firms in the same period, according to data from Bitwise. Retail investors continue to hold the majority of the float, but professional investors accounted for over $11 billion in exposure by quarter’s end, which is 18.7% of the total Bitcoin ETF assets under management (AUM).The trend indicates that larger ETFs are generally more attractive to institutional investors. Notably, ARKB and HODL ETFs have…

In a remarkable turn of events, Bitcoin (BTC) has broken out of its recent trading range, recording a 7% surge in the past 24 hours alone. The cryptocurrency tests the $66,000 resistance level, setting the stage for a potential move toward higher targets. The latest momentum shift in Bitcoin’s price action has caught the attention of industry experts, particularly the co-founders of on-chain analytics firm Glassnode. According to their analysis, the trigger for a larger market structure release has been in the works since the March highs. Bitcoin Breaks Out The co-founders of Glassnode believe this breakout has been coming…

So you’ve launched a crypto project. Now, the million dollar question becomes – how can you get people to trust it? You’ve got this great idea for a new protocol, exchange, NFT project, or product in the Web3 space. You gather an awesome development team. You architect a system with security front of mind. You launch tentatively into the cryptoverse…and are met with, well, skepticism. It’s hard out there for an upstart crypto founder! But at this point who could blame the users. With stories of hacking, rug pulls, and other mainstream scandals popping up by the day, people in…

Bitfarms Ltd., a global bitcoin mining company, has announced the immediate termination of Geoffrey Morphy as president and CEO, along with his removal as a director. Following his dismissal, Morphy filed a lawsuit against the company, seeking $27 million in damages for alleged breach of contract and wrongful dismissal. Bitfarms is set to defend against […] Source link