Author: NBTC

Indictments reveal how eight Chinese firms used cryptocurrency to obscure profits from illegal chemical sales. US Indicts Chinese Firms Using Cryptocurrency in Illicit Trade The U.S. Department of Justice (DOJ) has unsealed indictments against eight China-based chemical companies and employees for their alleged involvement in trafficking fentanyl precursor chemicals and laundering money through cryptocurrency. Filed in the Middle District of Florida, the charges reveal how these companies and individuals used cryptocurrency wallets, including bitcoin, to mask payments linked to illegal synthetic opioid sales. For example, Guangzhou Tengyue Chemical Co. Ltd. and Hubei Shanglin Trading Co. allegedly used bitcoin wallets managed…

The Russian government has enacted a new law regulating digital currency turnover, aiming to control Bitcoin and crypto mining activities, Russian news agency TASS reported Saturday. Set to take effect on November 1, the legislation enables the Russian government to ban digital currency mining in designated regions or territories. It also outlines the conditions under which such bans can be implemented. Under the new regulations, the government can regulate the activities of mining infrastructure operators, a shift from previous obligations to a now formalized right, the report stated. The law also broadens the scope of entities that can access digital…

This is a segment from the Empire newsletter. To read full editions, subscribe. If you think the Ethereum L2 space is overcrowded, perhaps you’re not thinking big enough. Granted, there are now more than 100 different satellite blockchains orbiting Ethereum mainnet, per L2Beat. Kraken is preparing to launch one more, Ink, which it aims to deploy on Optimism’s Superchain. It will be the Superchain’s 24th fully participating network. L2s generally process transactions offchain — where it’s much cheaper — and periodically transmute them to Ethereum for proper settlement. The low fees and speed free developers to build apps that are…

Economist Alex Krüger is putting traders on notice in regards to Ethereum, saying that one of ETH‘s biggest rivals has already reached escape velocity and will likely continue to outperform. In a post on the social media platform X, Krüger tells his 184,000 followers that “it’s about time to stop betting on ETH the asset,” given its underwhelming performance over the last several years. “Even in the event of a Trump win. When an asset is supposed to go up and it does the opposite, that’s the market telling you something. There are better crypto assets to bet on. Don’t…

The Ripple Chairman Chris Larsen has moved 20 million XRP from the 50 million tokens he shuffled days ago. Notably, speculations point to Binance as the ultimate destination of these 20 million tokens, given the historical movements associated with the recipient address. However, these remain unconfirmed at the reporting time. Earlier 50M XRP Transfer For context, one of the wallets belonging to the Ripple Chairman moved out 50 million XRP on Sept. 16, as previously reported by The Crypto Basic. This transaction was especially noteworthy, as the sending address had not recorded any substantial outflow since its creation in 2013.…

A group of victims is preparing a lawsuit against crypto exchange WazirX following the $235 million hack. Thirty victims of the July 18 hack on WazirX, which saw roughly 45% of user funds drained from the platform’s hot wallet, are preparing to file a class-action lawsuit with the National Consumer Disputes Redressal Commission in India, according to a local media report. The victims seeking to recover crypto assets worth over INR 5 crores (around $600,000) argue that the exchange acted outside its legal boundaries. The $235 million hack impacted roughly 4 million users, compelling the exchange to seek a Scheme…

TSMC’s halt on Sophgo chip supplies amid a U.S. probe could disrupt China’s AI and mining chip markets. TechInsights reports Huawei’s new AI chip, made by TSMC, potentially violating U.S. tech export controls. Bitmain’s global plans face hurdles as tighter U.S. controls threaten advanced chip access for its affiliate, Sophgo. TSMC suspended chip supplies to Xiamen Sophgo, an AI chipmaker linked to Bitmain after the U.S. Department of Commerce launched an investigation. This probe is examining potential sanctions violations regarding Huawei, which has been under restrictions since 2020. Consequently, TSMC’s action against Sophgo, reportedly led by Bitmain co-founder Micree Zhan,…

Oasys, a blockchain network focused on the gaming industry, has commenced a new collaboration with Miracle Play, a top esports tournament forum. The partnership between Oasys and Miracle Play targets to revolutionize the esports sector in Japan and so on with the integration of blockchain technology, creating an efficient, more immersive, and fairer tournament experience. Miracle Play 🤝 OasysWe’re thrilled to announce that the esports tournament platform @miracleplaygg has teamed up with #Oasys to elevate Web3 esports in Japan and beyond 🎮🌍.Get ready for a fairer and more thrilling tournament experience!🔥 https://t.co/3q5mj2FNa1 — Oasys | Blockchain for Games (@oasys_games) October…

On Sept. 9, crypto trader and analyst ‘Daan Crypto Trades’ told his 382,000 X followers that this cycle is not like previous ones as BTC made a new high before the halving but has stalled since. However, it is still ahead of where previous cycles would be relative to those highs, he said before adding: “That’s why I feel like these past 6+ months are not that odd.” The Bitcoin correction from its all-time high currently stands at 25.6%, which is relatively small compared to previous pullbacks. #Bitcoin This cycle is like no other. Price made a new all time…

Yesterday, Catizen, a well-known mini-game in the Telegram ecosystem, successfully completed the distribution of its crypto airdrop. The project has launched its governance token CATI on the major centralized exchanges, attracting a lot of participation from traders. At the debut, the project is valued at approximately 950 million dollars: these numbers could support another wave of hype in the world of free airdrops. Let’s see all the details below. The game of Telegram Catizen and the airdrop to the crypto community Listing of CATI on major crypto exchanges: debut with 950 million FDV The trend of free airdrops to farm…