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Crypto lender Blockfi is moving closer to returning funds to clients after a bankruptcy judge confirmed its Chapter 11 plan on Tuesday. The plan outlines a process for the company to distribute the remaining assets to clients and attempt to recover additional funds. Blockfi Advances on Client Asset Reimbursement Following Chapter 11 Plan Approval With over 90% of voting creditors approving the plan, Blockfi expressed optimism about providing client recoveries relatively quickly compared to similar crypto bankruptcies. The plan confirmation comes after Blockfi originally filed for bankruptcy protection in November 2022, amid the broader crypto market downturn. Under the approved plan, Blockfi will first distribute the remaining digital assets back to clients with funds in Blockfi Wallet accounts. The company will then make an initial distribution to clients with funds in Blockfi Interest Accounts (BIAs) and retail crypto-backed loans. “Over the coming months, you will receive an e

Bitcoin.com, one of the world’s leading cryptocurrency wallet developers and news portals, has partnered with the Busan International Film Festival as a major sponsor. The Busan International Film Festival (BIFF), held annually in South Korea, is one of the most significant film festivals in all of Asia. By sponsoring the event Bitcoin.com seeks to support artistic endeavors and reach new audiences. The 28th Busan International Film Festival will take place on October 4-13, 2023 at the Busan Cinema Center in Busan, South Korea. The festival will showcase the best of Asian cinema and feature various events and programs, such as master classes, open talks, hand-printing ceremonies, and awards ceremonies. The opening film will be Because I Hate Korea by Jang Kun-jae, and the closing film will be The Movie Emperor by Ning Hao. The festival will also honor Hong Kong star Chow Yun-fat with the Asian Filmmaker of the Year award. You can find more information about the festival on its offici

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has explained why the securities regulator is taking a litigation-heavy strategy to regulate the crypto industry. The SEC chair insisted that enforcement actions against crypto firms are not brought with a political agenda, emphasizing that he is protecting the American public. “This is a field where the American public is at risk and being harmed every day on these platforms that are commingling and often trading against their customers,” he cautioned. Gensler Reveals Why SEC Focuses on Litigation in Regulating Crypto The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, testified before the House Financial Services Committee on Wednesday. During the hearing, several members of Congress raised questions about cryptocurrency and the regulation of crypto tokens. Congressman John Rose (R-TN) asked Gensler: “Regarding cryptocurrencies … I’m interested in why you have pursued a litigation-hea

The U.S. Securities and Exchange Commission’s former head of internet enforcement says former U.S. President Donald Trump’s anti-crypto stance may change dramatically . He further predicted that if a Republican is elected U.S. president, a Republican-appointed SEC chair would, at a minimum, approve a bitcoin exchange-traded fund (ETF) and “may even slow down considerably SEC crypto-related enforcement efforts.” Former SEC Official on Donald Trump’s Anti-Crypto Stance Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark has argued that former President Donald Trump could “dramatically” change his position on cryptocurrencies. Stark is currently president of cybersecurity firm John Reed Stark Consulting. He founded and served as chief of the SEC Office of Internet Enforcement for 11 years. He was also an SEC enforcement attorney for 15 years. Trump is running for president in 2024. “Former President Trump is on record as being strongly anti-bitcoin and anti-c

Rich Dad Poor Dad author Robert Kiyosaki has predicted that bitcoin will “become priceless” when the Federal Reserve launches a central bank digital currency (CBDC). He warned that privacy will be destroyed, emphasizing that “Big Brother will be watching.” The famous author urged investors to start accumulating bitcoin now “before it’s too late.” Robert Kiyosaki’s CBDC Warning, Urges Investors to Start Saving Bitcoin Now The author of Rich Dad Poor Dad, Robert Kiyosaki, has warned about the risks of the Fed launching a central bank digital currency (CBDC). Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Kiyosaki explained in a post on social media platform X Friday that the Federal Reserve’s central bank digital currency is coming and when that happens, privacy will be gone. “B

Paypal has chosen Crypto.com as the “preferred exchange” for its recently launched stablecoin issued by the blockchain company Paxos. The partnership with the trading platform seeks to prop the U.S. dollar-pegged cryptocurrency which has already listed the coin and provides liquidity for its market. Crypto.com Joins Payments Giant Paypal and Fintech Firm Paxos to ‘Further Enable Paypal USD’ Crypto.com announced a partnership with Paypal that aims to establish the digital assets exchange as the preferred trading platform for the online payment provider’s new paypal usd (PYUSD) stablecoin. In a press release, the crypto firm highlighted it has already listed the new currency and is currently the exchange with the deepest liquidity for its trading pairs. Paypal introduced the stablecoin in early August with the stated goal to eventually making it an integral part of its payments infrastructure. PYUSD is issued by the New York-based Paxos Trust Company on the Ethereum blockchain and i

The Israel Land Authority has called for blockchain experts to determine the different applications of distributed ledger technology in real estate. Implementing this technology could ostensibly present several advantages compared to traditional real estate transactions, which are qualified by Israeli media as being “time-consuming” and having high operational fees. Israel Examines Blockchain Real Estate Opportunities Israel is mulling the application of blockchain tech in the real estate sector. According to Israeli media , the national Land Authority has called for blockchain experts to examine the various applications of blockchain in the real estate sector, and how it might benefit from such implementations. Some of the applications that the Israeli Land Authority believes blockchain tech might expedite include registration of property and license management, selling and purchasing property using smart contracts, and the creation of a blockchain resident national property regis

The Hashgraph Association and Dar Blockchain recently said they will be working “to nurture projects, facilitate growth, and profoundly shape the Middle East and North Africa (MENA) technology landscape.” The two entities said they hope to achieve the set objectives via meetups, hackathons, and university groups. Shaping the MENA Region Technology Landscape The Hashgraph Association, a non-profit organisation promoting the use and adoption of the Hedera network, recently said it had entered into a partnership with the Tunisia-based Dar Blockchain. Through this collaboration, Hashgraph Association and Dar Blockchain said they hope “to nurture projects, facilitate growth, and profoundly shape the Middle East and North Africa (MENA) technology landscape.” According to a press statement, the two entities hope to achieve the set objective via meetups, hackathons, and university groups. In addition, the two groups said they will be publishing a monthly podcast. Commenting on their orga

The city of Buenos Aires has announced that it will roll out a blockchain-based, privacy-focused digital ID wallet starting in October. The Quarkid project, previously known as Tangoid, will allow its users to download a “self-sovereign” wallet to hold their birth and marriage certificates, with more digital documents to be added later this year. Buenos Aires to Roll Out Blockchain-Based ID Program The City of Buenos Aires government announced the deployment of a digital, blockchain-based “self-sovereign” ID project for its citizens. The wallet, called Quarkid, formerly known as Tangoid and scheduled to be operating by last January, will supposedly allow its users to exert full ownership of their data, granting only trusted and permissioned third parties access. The Quarkid wallet will use Zksync Era, a zero-knowledge (ZK) Ethereum L2 (Layer 2) protocol, as its base, allowing the use of this kind of mathematical proof for privacy and confidentiality purposes. Quarkid was co-creat

A calendar has been set for the upcoming trial of United States v. Bankman-Fried, with jury selection beginning October 3, 2023. The FTX founder, Sam Bankman-Fried, was denied temporary release from prison but will be allowed to use an “air-gapped,” internet-disabled laptop for note-taking in the courtroom. In the coming month and a half, the public will likely hear testimonies from FTX senior personnel such as Zixiao (Gary) Wang, Caroline Ellison, Nishad Singh, and Ryan Salame. The Bankman-Fried Trial Kickoff Next week, the co-founder and former FTX CEO Sam Bankman-Fried is set to face trial following charges leveled by the U.S. government. The litany of accusations against him includes wire fraud conspiracy, wire fraud, commodities fraud conspiracy, securities fraud conspiracy, and money laundering. The charges are associated with FTX’s collapse after the once-$32 billion crypto empire failed in November 2022. Bankman-Fried is the only one named in the lawsuit and on September 2

U.S. Securities and Exchange Commission (SEC) has postponed its decisions on the spot bitcoin exchange-traded funds (ETFs) proposed by several companies. The delays of the applications of financial powerhouse Blackrock, asset manager Valkyrie and others come ahead of an expected government shutdown that would affect the SEC. U.S. Securities Regulator Pushes Back Verdicts on Multiple Bitcoin ETF Applications The future of a number of attempts to issue spot bitcoin ETFs in the United States remains unclear after the country’s regulatory body overseeing the securities market delayed its decisions again. The move concerns the high-profile application of investment giant Blackrock as well as those of Valkyrie, Bitwise, and Invesco, according to filings on Thursday. The development follows the postponing of the verdict on the Ark 21shares and Global X spot bitcoin ETFs earlier this week. The first was jointly proposed by Cboe BZX Exchange, 21shares, and Ark Invest, while the second was

According to Jack Vinijtrongjit, the co-founder and CEO of the Web3 infrastructure company AAG, more prospective users will be drawn to decentralized finance (defi) and non-fungible tokens (NFTs) if tools that help them avoid falling prey to scammers are developed and deployed. Vinijtrongjit argued that the need for such tools will even become “more crucial” if and when the much-talked-about widespread adoption of Web3 becomes a reality. Onus on Industry Participants While he acknowledged the key role that education can play in making Web3 a safer space for new users, Vinijtrongjit insisted that the onus for solving this problem rests on the shoulders of industry participants. He told Bitcoin.com News that this is especially true at the latter stages of mainstream adoption of emerging technologies. Turning to the regulation of Web3 or the lack thereof, the AAG co-founder said he concurred with those who believe that a lack of regulation makes mainstream adoption harder. In writte

Reports indicate that the U.S. Central Intelligence Agency is poised to unveil a generative artificial intelligence (AI) tool, akin to Openai’s Chatgpt, to significantly enhance investigative efforts. Randy Nixon, the head of the CIA’s Open-Source Enterprise division, explained that this innovation will empower users to effortlessly trace back to the original sources of the information they are amassing. CIA Eyes Generative AI Technology The CIA is on track to unveil a generative AI chatbot, echoing the capabilities of OpenAI’s Chatgpt or Anthropic’s Claude. The spotlight on AI has intensified in 2023, and the U.S. government’s intelligence arm is gearing up to launch its distinct AI asset. This tool, however, will remain off-limits to U.S. bureaucrats and the general populace, with Nixon emphasizing its stringent adherence to privacy laws. “We’ve gone from newspapers and radio, to newspapers and television, to newspapers and cable television, to basic internet, to big data, and i

The Venezuelan government has officially announced the extension of the restructuring period for Sunacrip — the national cryptocurrency watchdog — by six months more due to the link of its former head with a corruption scheme. Asonacrip, a national crypto association, is asking Sunacrip to open communication channels with the community affected by its actions. Venezuelan Government Extends Sunacrip Intervention by Six Months The Venezuelan government has announced the extension of the restructuring of Sunacrip, the cryptocurrency watchdog of the country, by six months more. The executive order, which extended the intervention, also ratified each member of the restructuring board in their charges. Sunacrip will now have until next March to complete its restructuring processes. Sunacrip was intervened in March due to the arrest of its former head, Joselit Ramirez, who was arrested due to alleged links with a corruption scheme where the institution would have served as an intermedia

Crypto exchange Binance is closing down all exchange services and business lines in Russia. The company has entered into a sales agreement with Commex. A Binance executive explained that operating in Russia is not compatible with the company’s compliance strategy. “We remain confident in the long-term growth of the Web3 industry around the world and will focus our energy on the 100+ other countries in which we operate,” he emphasized. Binance Fully Exiting Russia Cryptocurrency exchange Binance announced Wednesday that it will fully exit Russia. According to the announcement: “ has entered into an agreement to sell the entirety of its Russia business to Commex.” According to its website, Commex is “a centralized cryptocurrency exchange backed by top-tier crypto VC.” Binance added that to “ensure a smooth process for existing Russian users, the off-boarding process will take up to one year.” Noting that the financial details of the deal will not be disclosed, the crypto exchange str

Coinbase CEO Brian Armstrong has slammed JPMorgan’s British retail bank, Chase UK, for changing its policy to block all crypto-related payments. Calling the move by Chase “totally inappropriate,” the Coinbase boss said: “UK crypto holders should close their Chase accounts if this is how they’re going to be treated.” Meanwhile, the British government is striving to make the U.K. a global crypto hub. Coinbase’s CEO Slams Chase Bank Over Anti-Crypto Policy The CEO of cryptocurrency exchange Coinbase (Nasdaq: COIN), Brian Armstrong, publicly criticized JPMorgan’s British retail bank, Chase UK, on Wednesday for changing its policy to block all crypto-related payments. The Coinbase executive wrote on social media platform X: Totally inappropriate behavior from Chase UK (this is their UK bank only is my understanding) … UK crypto holders should close their Chase accounts if this is how they’re going to be treated. Armstrong also alerted British Prime Minister Rishi Sunak and Member of

Economist Peter Schiff has warned of an impending biggest bond market crash in U.S. history. “The coming economic and financial crisis will be unprecedented in size,” he added. “The stagflation nightmare will soon be a full-blown reality. Very few investors are actually prepared for this outcome,” he further cautioned. Peter Schiff’s Latest Economic Warnings Economist and gold bug Peter Schiff issued more warnings about the U.S. economy and the U.S. dollar in multiple posts on social media platform X over the past few days. He wrote on Wednesday: We are still early in what will become the biggest bond market crash in U.S. history. Given that the U.S. economy is more levered now than at any time in history (governments, corporations, and individuals), the coming economic and financial crisis will be unprecedented in size. “The financial crisis we are about to experience will be much worse than anything that happened in 2008, yet Wall Street and the Fed are even more clueless now

On September 27, 2023, statistics indicate that 13 cryptocurrency exchanges possess assets under management (AUM) exceeding $1 billion, collectively constituting 14.39% of the crypto economy’s total value of $1.05 trillion. Among these 13 digital currency trading platforms, Binance stands out by maintaining a 42.81% share of the $151.08 billion in cryptocurrency reserves. A Handful of Billion-Dollar Cryptocurrency Exchanges Command $151B in Net Value Data indicates that 13 distinct cryptocurrency exchanges collectively manage a total value of $151.08 billion, with Binance, the leading cryptocurrency trading platform in terms of global volume, maintaining $64.68 billion in reserves, as reported by Arkham Intelligence’s blockchain explorer. Binance’s holdings include 21.02 billion tether ( USDT ) and 671,981 BTC , with a combined value of $38.7 billion. Additionally, Binance held assets valued at $6.55 billion in ETH and $3.21 billion in BNB on September 27. Binance’s holdings re

Ethereum climbed to a fresh one-week high on Thursday, as bulls kept price above a key resistance level. The move comes despite cryptocurrencies mostly consolidating in today’s session, following Wednesday’s rally. Bitcoin was marginally lower, retreating from recent gains. Bitcoin Bitcoin edged marginally lower on Thursday, as crypto markets consolidated, following strong gains the day prior. BTC /USD dropped to an intraday low of $26,111.46, less than 24 hours after nearing a breakout above the $27,000 level. Overall, it appears that traders have opted to secure gains, abandoning their positions as markets neared a point of uncertainty. Looking at the chart, this area appears to be 51.00 on the 14-day relative strength index (RSI). As of writing, price strength is tracking at the 49.64 level, with bitcoin now trading at $26,481.46. Should bulls navigate a surge beyond this point, there is a good chance that price could move back above $27,000. Ethereum Ethereum ( ETH ) peak

PRESS RELEASE. September 28, 2023 – The 2023 Global Digital Mining Summit (WDMS) concluded successfully in Singapore, exploring the future trends and investment opportunities in the Web 3.0 mining ecosystem. During the event, Bitmain unveiled its latest high-hashrate miner, the S21, and commenced accepting pre-orders. As Bitmain’s exclusive cloud mining partner, BitFuFu platform has opened the S21 miner pre-purchase. The S21 miner boasts an impressive energy efficiency rating of only 17.5 J/T, significantly enhancing mining efficiency. Furthermore, the S21 miner offers a hashrate of up to 200 T/TH, marking a new performance peak and solidifying its position as one of the world’s most powerful BTC miners. BitFuFu is introducing an attractive product package, combining mining machine purchases with hosting services: The platform supports purchases starting from just one miner, offering an integrated service of machine procurement and hosting by BitFuFu, which includes transportatio

While both attackers and smart contract auditors are motivated to find vulnerabilities in code, according to Eyal Meron, the co-founder and CEO of Spherex, the former “is always more incentivized as the protocol’s total value locked (TVL) grows.” To overcome this challenge, Meron told Bitcoin.com News that decentralized protocols will need to put in place what he called “asymmetric countermeasures.” Human Error and Smart Contract Vulnerabilities The Spherex boss also suggested deploying an exploit prevention solution as another way protocols can prevent attackers from using errors in code to steal digital assets worth millions. Meron, a senior veteran of the elite Israeli 8200 cyber unit, nevertheless admits that most smart contract vulnerabilities are often the result of human error which in many cases is “inevitable.” One common error, which according to Meron is almost impossible to detect, often occurs when developers “overlook how every code line affects the contract dependin