• OKX sends bankrupt Alameda $8.3M in crypto assets
• Ethereum will drive global cryptocurrency adoption, not Bitcoin: Roger Ver
• Tether expands into Bitcoin mining
OKX Sends Bankrupt Alameda $8.3M in Crypto Assets
OKX has sent the bankrupt city of Alameda, California a payment of $8.3 million worth of cryptocurrency assets. The payment was intended to help the city recover from its financial struggles and provide much needed funds for essential services.
Ethereum Will Drive Global Cryptocurrency Adoption, Not Bitcoin: Roger Ver
Crypto investor and entrepreneur Roger Ver believes that Ethereum will be the driving force behind global cryptocurrency adoption rather than Bitcoin, citing its greater utility as a currency and its better scalability as compared to other digital currencies.
Tether Expands Into Bitcoin Mining
Stablecoin issuer Tether has announced that it is expanding its operations into Bitcoin (BTC) mining in partnership with an unnamed local licensed company in Uruguay. The move is part of Tether’s commitment to renewable energy sources and environmentally responsible mining practices. The company intends to use low-cost, renewable energy sources for the majority of its mining operations.
SBF’s Defense Lawyers Insist Regulatory Issues Are Not Federal Crimes
The defense lawyers representing Stephen Biegun—the former executive vice president at SoftBank Group Corp—have insisted that any regulatory issues Biegun may have encountered are not federal crimes. This comes after several investigations were launched against SoftBank last year regarding potential insider trading violations by executives at the firm including Biegun himself.
El Dorado Exchange Attacker Returns Over $400K After Team Admits Code Vulnerabilities
The individual responsible for attacking El Dorado Exchange has returned over $400K in stolen funds after the exchange admitted to code vulnerabilities and released additional information about their security protocols on May 25th. The attacker had previously demanded a ransom from El Dorado in exchange for returning the stolen funds but ultimately decided to return them without any compensation following the exchange’s disclosure of technical details about their security measures.