Bitzlato Founder Sentenced to Prison for Facilitating Money Laundering

On July 18, Judge Eric Vitaliano sentenced the founder of the Bitzlato cryptocurrency exchange to 18 months, the time he had already served, for running an unlicensed money-transmitting business. Anatoly Legkodymov pleaded guilty last year to running an operation that facilitated the concealment of over $700 million in proceeds from illegal gambling and drug transactions. Bitzlato Founder Admits He Could Have Done More Judge Vitaliano acknowledged the harsh conditions at Brooklyn’s Metropolitan Detention Centre (MDC), where Legkodymov was detained, stating, “It’s a terrible place, and the court does consider that.”…

CBOE gives official launch date for spot Ethereum ETF

The Franklin Ethereum exchange-traded fund (ETF) will begin trading on the Chicago Board Options Exchange on July 23, “pending regulatory effectiveness,” CBOE announced on July 19. On May 23, the United States Securities and Exchange Commission (SEC) approved rule changes permitting the listing of several spot Ether (ETH) ETFs. However, before the new products could begin trading, the regulator still had to sign off on each fund issuer’s respective S-1 registration statements.  In an effort to gain an early market advantage, virtually all of the ETH ETF issuers have announced…

Bitcoin Pushes $66K Following Donald Trump Assassination Attempt, and More: This Week’s Crypto Recap

It’s been a good week for the cryptocurrency market. Its total capitalization increased by more than $250 billion, currently sitting above $2.5 trillion, thanks to considerable gains across the board. But what seems to have triggered this recovery is an event that many describe as one of America’s darkest days. Indeed, it was the assassination attempt of US Presidential candidate Donald Trump that fueled the market’s recovery. The reason is pretty simple. Many seem to believe that the events that transpired over the past few days cemented Trump’s chances of…

Interview with Changelly and Tangem

Wearable hardware wallets can potentially drive mass crypto adoption by making digital asset management more accessible. The Tangem Ring, a ring-shaped hardware wallet, exemplifies this trend. Developed by Tangem, one of the leading hardware wallet providers, the ring supports instant crypto exchange services by Changelly, an instant crypto exchange and application programming interface (API) provider for businesses. In this interview, Changelly CEO Jake Cormack and Tangem chief commercial officer Darya Karpukova shared insights on the latest advancements in hardware wallet technology, the features of the Tangem Ring and how their…

Here’s When Polygon Will Migrate from MATIC to POL Token

Polygon will undergo a mainnet upgrade on Sept. 4, 2024, following the community’s approval of the proposal. This upgrade marks the transition from the native MATIC token to a new one with the ticker POL and introduces fresh smart contracts. The Migration Process “Following PIP-42, consensus was reached that Polygon PoS validators must stake POL (the upgrade to MATIC) to earn protocol rewards and transaction fees in POL,” said Polygon Labs in a July 18 blog post. SAVE THE DATE: MATIC → POL After community consensus, the long-awaited upgrade is…

$520B state-owned Italian bank trials digital bonds on Polygon

Italy’s state-owned bank Cassa Depositi e Prestiti SpA has just completed a $27.2 million digital bond issuance with trillion-dollar investment bank Intesa Sanpaolo using Ethereum layer-2 Polygon. The transaction was part of a trial conducted by the European Central Bank to identify new solutions for central bank money settlement of wholesale transactions carried out on blockchains, Intesa Sanpaolo explained in a July 18 statement. It was the first transaction of its kind since Italy introduced its FinTech decree law, which governs the issuance and circulation of financial instruments in digital…

Bankrupt Crypto Lender BlockFi to Commence Repayments This Month 

Bankrupt crypto lender BlockFi announced a significant step in its effort to repay its clients. In an X post on Wednesday, the lender noted that the first interim distribution of funds to clients through Coinbase will begin this month. According to BlockFi, the interim distribution will commence in July and will be processed in batches in the coming months. The firm added that eligible clients will receive repayment notifications through the email linked to their BlockFi accounts. Non-US Clients Restricted BlockFi mentioned that clients outside the US cannot receive funds…

Bitcoin RSI points to more BTC price upside as a $65K battle rages

Bitcoin (BTC) continued its fight to reclaim $65,000 on July 18 as the level became a key line in the sand for analysts. BTC/USD 1-day chart. Source: TradingView Bitcoin bulls seek to break crucial resistance hurdle Data from Cointelegraph Markets Pro and TradingView showed consolidatory BTC price action characterizing the Asia trading session and Wall Street open. Having reached $66,000 the day prior, BTC/USD returned to test the mettle of its recent gains as the short-term holder (STH) realized price came into play. As Cointelegraph reported, this bull market trendline,…

What’s Next for the SHIB Price? These Shiba Inu Indicators Give Hints

TL;DR The price of Shiba Inu (SHIB) surged substantially lately, but dropped 4.5% in the past 24 hours, with active Shibarium accounts and daily transactions significantly plunging. The broader meme coin market also saw declines, though some metrics suggest a potential SHIB resurgence due to reduced selling pressure. Losing Momentum The second-largest meme coin in terms of market capitalization – Shiba Inu (SHIB) – has been on a tear in the past two weeks, with its price jumping by almost 20%. However, its rally was intercepted in the last 24…

Anthropic partners with Menlo for $100M fund investing in AI startups

Artificial intelligence startup Anthropic, the firm behind AI chatbot Claude, has inked a deal with venture capital firm Menlo Ventures to launch a $100 million fund to support up-and-coming AI firms.  In a July 18 statement, Anthropic said it launched the Anthology Fund to support new AI startups innovating with generative AI technology. Source: Menlo Ventures Anthropic said the fund would provide support to AI entrepreneurs in five primary areas of development, including infrastructure: novel applications of AI in industries such as healthcare and education, consumer AI solutions, trust and…