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satoshin • Jul 13, 2023, 9:56 am EDT

U.S. Authorities Sue Alex Mashinsky, the Former CEO of the Bankrupt Crypto Lender, Celsius Network Ltd.

According to reports Thursday, the former Chief Executive Officer of the insolvent crypto lending platform, Celsius Network Ltd., Alex Mashinsky, was arrested and charged with fraud in a federal court in New York. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) simultaneously filed lawsuits against Mashinsky and his company. Mashinsky, once infamous for telling customers “banks are not your friends” is now friend to no one and stands accused of executing a deceptive operation designed to defraud Celsius Network customers, as detailed in the indictment, which spanned from 2018 to June 2022. The indictment alleges

3 minutes

satoshin • Jul 11, 2023, 12:20 pm EDT

Bank of America Slapped With $250M Fine for Exploitative Banking Practices

In a recent crackdown on exploitative banking practices, Bank of America has been hit with a $250 million fine. Federal regulators have accused the bank of executing dubious maneuvers like double-charging customers fees, opening unauthorized accounts, and withholding promised credit card perks.

3 minutes

satoshin • Jul 9, 2023, 5:23 pm EDT

New Report Shows Cryptocurrency Industry Employs Nearly 200,000

A recent report suggests the cryptocurrency industry employs almost 200,000 people across 10,000 companies valued at $180 billion collectively.

2 minutes

satoshin • Jul 6, 2023, 4:11 pm EDT

From Imitation to Litigation: Twitter’s Stand Against Meta’s Copycat Culture

In a twist of Silicon Valley’s never-ending saga of dueling tech titans, Twitter is preparing to take legal action against Meta Platforms, the parent company of Facebook. Alex Spiro, a lawyer representing Elon Musk, has dispatched a warning letter to Meta’s CEO, Mark Zuckerberg, accusing the company of using ex-Twitter employees to design a clone of the Twitter platform. This move has reignited a fiery discussion about the tech giant’s legacy of imitation rather than innovation. Meta’s business model has often raised eyebrows due to its habit of repackaging the ideas of others, which starkly contrasts the ethos of other

3 minutes

satoshin • Jul 1, 2023, 12:31 pm EDT

Android Apps Carrying SpinOk Malware Downloaded 30 Million Times: The Silent Epidemic

In a startling revelation that has drawn global attention, the cybersecurity firm CloudSEK recently disclosed that several Android applications hosted on Google Play Store, with collective downloads surpassing 30 million, were found to be tainted with SpinOk malware. The announcement follows a meticulous investigation by CloudSEK’s research team, where they unearthed a worrying statistic: 193 apps on Google Play Store were infected with SpinOk malware, 43 of which were active within the last week. Unmasking SpinOk: A Trojan Horse Among Us Originally discovered by another cybersecurity software firm, Dr Web, in May 2023, the SpinOk malware has demonstrated a remarkable

3 minutes

satoshin • Jun 30, 2023, 3:19 pm EDT

Voatz Hits 125-Election Milestone, Reinforcing the Future of Voting is Mobile

In a world that is increasingly turning to digital solutions, the mobile voting platform Voatz has recently marked a significant achievement – the completion of its 125th election. This development not only signifies the company’s continuous growth but also underscores the expanding adoption of mobile voting as a secure, accessible, and streamlined approach to democratic participation. With a mantra that ‘the future of voting is mobile,’ Voatz leverages sophisticated smartphone security, identity verification techniques, biometrics, and blockchain technology to protect voters’ information and ensure a secure voting process. This has led to the company being recognized by prominent organizations, with

2 minutes

satoshin • Jun 29, 2023, 2:44 pm EDT

Riot Platforms Partners with MicroBT to Bring Bitcoin Miner Production Onshore: A New Era for the U.S. Crypto Mining Industry

In a significant stride for the U.S. Bitcoin mining sector, Riot Platforms, the largest public U.S. Bitcoin mining company in terms of developed capacity, has announced a landmark partnership with Bitcoin ASIC manufacturer, MicroBT. This collaboration is set to bring the production of MicroBT’s ASICs to America, marking a monumental shift in the traditionally Asia-centered Bitcoin miner manufacturing industry. The primary objective of this partnership is to secure miners for Riot’s Corsicana facility, a move set to considerably enhance the company’s mining capabilities. According to a press release shared with Bitcoin Magazine, this development aligns with Riot’s plans to amplify

2 minutes

Michelle W • Jun 29, 2023, 11:55 am EDT

Crypto Debanking Risks Pushing Industry Underground, Warns Australian Treasury

The rising trend of banks in Australia limiting services to cryptocurrency companies might drive the sector underground, making it less transparent, the Australian Treasury Department has warned. The Australian government is addressing the potential fallout of severing banking services to crypto exchanges amidst growing concerns over scams. On June 28, the Australian Department of the Treasury shed light on this matter by releasing an official statement addressing potential policy responses to debanking within the country. The term ‘debanking’ refers to a situation when a bank refuses to provide services to a client, often citing reasons such as compliance with Anti-Money

3 minutes

johnd • Jun 29, 2023, 11:14 am EDT

Banks’ Reliance on Third-Parties Faces Regulatory Scrutiny

Regulators are raising alarms about banks’ increasing use of third-party vendors and contractors. A recent Federal Reserve report criticized banks for relying on outside companies without adequately vetting or monitoring the relationships. The regulators warned that this could threaten data security, cause operational issues, and even lead to substantial financial loss. Regulations Of Third-Parties Set Expectations The Fed issued new guidance outlining principles for banks to improve oversight of third parties like fintech startups. While the direction provides valuable advice, some argue it may be an overcorrection that reduces banks’ willingness to work with outside firms. On the one hand, the regulators have a point. Banks

2 minutes

satoshin • Nov 27, 2019, 7:00 pm EST

Why freedom of speech is essential

Freedom of speech, a fundamental tenet of democratic societies, is often regarded as the cornerstone of individual liberty and societal progress. This invaluable right, enshrined in numerous international conventions and constitutions worldwide, is much more than a legal provision. It embodies the very essence of a free society. As George Washington once said, “If freedom of speech is taken away, then dumb and silent we may be led, like sheep to the slaughter.” In defense of diverse opinions The essential function of free speech lies in its capacity to foster a marketplace of ideas, where citizens can freely exchange thoughts,

5 minutes