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Users of bankrupt crypto exchange FTX have reportedly taken aim at financiers who promoted the platform, suggesting their efforts added an “air of legitimacy” to the now-defunct exchange in a case labeled as “tricky” by a crypto lawyer.A Feb. 15 Bloomberg report revealed a class-action suit filed Feb. 14 by FTX investors against venture capital firm Sequoia Capital and private equity firms Thoma Bravo and Paradigm.The investors accused the firms of touting “their own investments” of hundreds of millions of dollars in FTX.It was alleged the firms were involved in a promotional marketing campaign in 2021, which the investors alleged added…

NFT A new Ordinal minted on the Bitcoin blockchain network, inscription 2042, consists of a one-second audio clip capturing the sound of a wet fart. What are Bitcoin Ordinals? Launched in January by software engineer Casey Rodarmor, Ordinals are essentially a protocol that allows for data to be stored on Bitcoin’s blockchain network. Think NFTs but for Bitcoin. They’re so new you can’t even buy them via a marketplace like OpenSea. They require special Bitcoin Ordinal wallets to store and trade, but this has not stopped people from uploading strange and uncanny files to the Bitcoin network. So far, there…

The official committee of Celsius creditors is proposing to sue Celsius co-founder Alex Mashinsky and other executives for “fraud, recklessness, gross mismanagement and self-interested conduct” that eventually led to the collapse of the crypto lender.In a proposed complaint filed in a New York Bankruptcy Court on Feb. 14, attorneys representing the Official Committee of Unsecured Creditors said the move follows six months of investigations into Celsius’ current and former directors, officers and employees.The committee is made up of seven Celsius account holders and was appointed by the U.S. Trustee in July. The committee represents the interest of Celsius account holders…

Mining Fellow Binancians, Binance is launching a new batch of Cloud Mining products for BTC mining. Users may now complete subscriptions to Cloud Mining products to purchase hashrates, and start accumulating mining rewards in their Funding Wallets. Subscription Starts At: 2023-02-16 02:00 (UTC) Subscription Format: First-come, first-served basis Estimated Mining Start Time:2023-02-23 04:00 (UTC) Subscribe & Earn BTC Mining Rewards Now! Related Links: How to Complete Identity Verification (KYC) How to Use Binance Cloud Mining Mining Pools Explained Binance Cloud Mining Terms of Use Terms and Conditions: Users must have their accounts verified to complete subscriptions to Cloud Mining products.…

Despite attempts to police cryptocurrency through enforcement actions, United States financial regulators “are bound by legal reality” and Congress will ultimately decide crypto regulations, the policy expert for the crypto advocacy group Blockchain Association says.The association’s chief policy officer, Jake Chervinsky, shared his views in an extensive Feb. 14 Twitter thread on the state of crypto policy.He noted neither the Securities and Exchange Commission nor the Commodity Futures Trading Commission “has the authority to comprehensively regulate crypto.”14/ No matter how many enforcement actions the SEC and CFTC bring, they are bound by legal reality:Neither has the authority to comprehensively regulate…

NFT The sudden and explosive rise of Bitcoin NFTs via the new Ordinals project has sparked plenty of creativity from Web3 builders. Chainspace is one of the most vibrant examples to date—an experimental art project that connects Bitcoin and Ethereum through a lo-fi video rendering app that’s tied to both chains. The project spans 800 total on-chain apps, each a unique portal that pseudonymous co-creators Timshel and el-ranye describe as a “digital object that emits infinite art.” Put simply, each web app—which lives entirely in an Ordinals inscription on the Bitcoin blockchain—is like a Snapchat filter that manipulates the image…

NFT Yuga Labs, the company behind the massively popular Bored Ape Yacht Club NFT collection, announced the winner of its “Dookey Dash” endless runner game challenge on Wednesday. “Many have dashed, more have dookey’d, but one person arrived,” the Bored Ape Yacht Club account tweeted. “Congratulations to @Mongraal, the Key is yours!” Many have dashed, more have dookey’d, but one person arrived. Congratulations to @Mongraal, the Key is yours! pic.twitter.com/FXNi2yrJIV — Bored Ape Yacht Club (@BoredApeYC) February 15, 2023 Kyle “Mongraal” Jackson is an English esports player known for playing the battle royale game “Fortnite.” Last September, “Fortnite” creator Epic…

USD Coin (USDC) issuer Circle has denied rumors that it received a “Wells Notice” over its United States dollar-pegged stablecoin.On Feb. 14, a now-deleted tweet from Fox Business reporter Eleanor Terrett claimed Circle had been ordered by the U.S. Securities and Exchange Commission to cease the sale of USDC due to the stablecoin being an unregistered security. However, the rumor was swiftly rebuffed by Dante Disparte, chief strategy officer and head of global policy at Circle Pay. Replying on Twitter just 15 minutes after Terrett’s tweet, Disparte said his firm has not received a Wells Notice. .@circle has not received a Wells…

beginner When it comes to cashing out Bitcoin, there is no one-size-fits-all approach. Of course, a poor choice of the cash-out mechanism can impact the profitability of withdrawing both small and large amounts of Bitcoin, but a sizable number of Bitcoin multiplies the loss. That’s when you need to take your Bitcoin cash-outs even more seriously. Here’s a guide for those who are wondering how to sell large amounts of Bitcoin or other cryptos. Let’s take a closer look at what the options are. Difference Between Cashing Out Small and Big Amounts of Bitcoin You need to understand what large…

Blockchain Crypto and AI have been fighting a battle for relevance. In recent months, AI has come out as the clear winner. What if we could merge the two? AI is currently the most popular kid in the playground. A recent JP Morgan survey reached out to 835 institutional traders in 60 markets. In 2022, blockchain and distributed ledger technology were deemed second to mobile apps in key technologies expected to shape the future, alongside machine learning and AI. However, this year, 53% of respondents identified AI as the most exciting technology for the future. Only 12% believed blockchain would…