|All Time High:|
|Market Cap: |
|The price of #PAY today is $0.015 USD.|
The lowest PAY price for this period was $0, the highest was $0.015, and the current live price for one PAY coin is $0.01538.
The all-time high PAY coin price was $6.21.
Use our custom price calculator to see the hypothetical price of PAY with market cap of ETH or other crypto coins.
|The code for TenX crypto currency is #PAY. |
TenX is 5.6 years old.
|The current market capitalization for TenX is $3,091,283.|
TenX is ranked #723 out of all coins, by market cap (and other factors).
|The trading volume is modest during the past 24 hours for #PAY.|
Today's 24-hour trading volume across all exchanges for TenX is $40,813.
|The circulating supply of PAY is 201,018,255 coins, which is 98% of the maximum coin supply.|
|Note that there are multiple coins that share the code #PAY, and you can view them on our PAY disambiguation page.|
More TenX (#PAY) News
|Twitter Scraps Free API Access, Crypto Developers Must Pay
From February 9, anyone who wishes to use the Twitter application programming interface (API) will have to pay.
Twitter Scraps Free API Access
In an announcement on February 2, Twitter, one of the world’s largest social media platforms, said they will no longer support free access to their v2 and v1.1 APIs. Instead, anyone interested must have to subscribe to the basic paid tier.
Starting February 9, we will no longer support free access to the Twitter API, both v2 and v1.1. A paid basic tier will be available instead
— Twitter Dev (@TwitterDev) February 2, 2023
The Twitter API platform provides access to data sets generated and posted by millions of Twitter users. Only registered applications can access Twitter APIs and, by default, would access public data transmitted from any of the five endpoints, which include access to accounts and users, and tweets and replies.
The social media giant pointed to the quality of its data, saying that over the years, trillions of user-generated tweets have been sent by millions of users across the world. Billions of tweets continue to be sent every week.
The social media platform said its data sets are powerful considering their diversity and depth. Even with the new requirement, they will continue “enabling fast and comprehensive access” so developers can continue building using their data.
In the development world, APIs are critical for developers and businesses. With APIs, it is easier for developers to...
|Roger Ver Breaks Silence on Genesis Lawsuit, Claims He Has Sufficient Fu...
Early Bitcoin adopter and executive chair of Bitcoin.com, Roger Ver, said he has 'sufficient funds' to pay Genesis Global after being hit by a lawsuit by the now-bankrupt crypto broker's unit - GGC International.
The Bitcoin Cash proponent noted that he is happy to pay the amount he owes but pointed out that the agreement requires Genesis to remain solvent. In a new Reddit post, Ver claimed that Genesis failed to provide him assurances about its finances.
The Digital Currency Group broker and lending desk slid into bankruptcy after weeks of fresh fundraising attempts. The court documents reveal that it has over $150 million to fund its restructuring efforts.
Ver allegedly owes around $21 million to Genesis.
Genesis Vs. Roger Ver
Ver, who was once known as 'Bitcoin Jesus,' claimed that the financial information provided by Genesis has been called into question by recent events. He even said that the crypto broker refused to clarify the information it had provided him and instead chose to file suit.
The Bitcoin evangelist accused Genesis of causing 'discrepancies between the valuation of customer collateral and their own digital assets.'
'Genesis can’t ask its clients to play a “heads clients lose, tails Genesis wins” game. It appears that at points since at least last June Genesis dipped under the solvency line.'
GCC filed the suit against Ver in the New York State Supreme Court earlier this week, accusing the blockchain-industry veteran of failing to settle ...
|Ransomware Revenue Drops as Victims Pay Less Often, Chainalysis Reports
While the number of ransomware hits may not have decreased significantly, the revenue from such attacks has fallen sharply last year, according to Chainalysis. The blockchain forensics firm believes that to a large extent the trend can be attributed to more of the targeted organizations refusing to pay the perpetrators.Chainalysis Registers Significant Decline in Revenue From Ransomware Attacks
Over the course of 2022, ransomware actors have managed to extort at least $456.8 million from victims, Chainalysis revealed in a report published Thursday. The estimated amount is down from $765.6 million the year before, the analytics company pointed out, noting that the true total is likely much higher, as many crypto addresses controlled by attackers have yet to be identified.
“The trend is clear: Ransomware payments are significantly down,” the authors of the study said while emphasizing that this finding doesn’t mean fewer attacks have been carried out. They believe instead that much of the decline is due to a growing number of affected organizations actually refusing to pay the demanded ransoms.
Chainalysis also highlights a sizable increase in unique ransomware strains in 2022, continuing the growth of active strains in recent years. At the same time, the majority of the ransomware revenue still goes to a limited group of strains, the researchers say, meaning that “the actual number of individuals who make up the ransomware ecosystem is likely quite sma...
|Nexo Agrees to Pay $45 Million in Fines to US Authorities
Back in September, the Californian DFPI and other U.S. regulators ordered Nexo to desist from offering Earn Interest Products (EIP), which in the company’s case took the form of crypto asset lending accounts.
At the time the charges were filed, Nexo had already ceased offering the accounts to U.S. investors.
However, U.S. investors could still use the feature by opting for automatic renewal on already existing accounts.
Cooperation With Authorities
Four months later, both the SEC and The North American Securities Administrators Association (NASAA) announced that their legal actions against the lender had concluded. As a result of the investigation, Nexo voluntarily agreed to pay $45 million in fines.
The crypto platform refused to confirm or deny the regulators’ findings – nevertheless, a spokesman for the SEC stated that the penalties imposed on the firm took into account Nexo’s cooperation and willingness to engage with regulators without constraint.
Furthermore, SEC Chairman Gary Gensler stated that Nexo was not charged for operating an EIP but for failing to register it properly.
“We charged Nexo with failing to register its retail crypto lending product before offering it to the public, bypassing essential disclosure requirements designed to protect investors. Compliance with our time-tested public policies isn’t a choice. Where crypto companies do not comply, we will continue to follow the facts and the law to hold them accountable. I...
|Nexo Agrees to Pay $45 Million to SEC and State Regulators for Unregiste...
The cryptocurrency lender, Nexo, has agreed to pay $45 million to the U.S. Securities and Exchange Commission (SEC) and several state regulators after charges were levied against the firm for failing to register the company's Earn Interest Product (EIP). Nexo detailed that the settlements are on a 'no admit, no deny' basis and that the arrangement 'closes all multi-year-long inquiries into Nexo.'Nexo Pays $22.5 Million to SEC, $22.5 Million to Several State Regulators for EIP Offering
On Jan. 19, 2023, Nexo announced that it has agreed to settle with the U.S. Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA) and several state regulators, including the Office of the New York Attorney General, over an unregistered offering.
According to the SEC, around June 2020, Nexo started to offer the company's Earn Interest Product (EIP), an interest-earning product that allows investors to earn interest on deposited crypto assets. The U.S. regulator said, 'the EIP is a security and that the offer and sale of the EIP did not qualify for an exemption from SEC registration.'
Nexo's co-founder, Kosta Kantchev, responded to the settlement in a statement sent to Bitcoin.com News. “We are confident that a clearer regulatory landscape will emerge soon, and companies like Nexo will be able to offer value-creating products in the United States in a compliant manner, and the U.S. will further solidify its position as the world’s en...
|Korean Court Orders Crypto Exchange to Pay Customers Suffering From Serv...
South Korea's supreme court has upheld the ruling for Bithumb, the country's largest cryptocurrency exchange, to pay damages to more than a hundred customers who filed a lawsuit claiming they suffered financial losses resulting from the exchange's service outage.Bithumb Ordered to Pay Customers Over Service Outage
The South Korean supreme court has issued a final ruling in a case involving a service outage at Bithumb, the country's largest cryptocurrency exchange, Yonhap reported.
The court has ordered Bithumb to pay damages totaling 251.4 million won ($203,120) to 132 investors who filed a lawsuit against the crypto exchange operator following the service outage, officials said Friday.
The plaintiffs claimed that they suffered financial losses due to steep price drops in a number of cryptocurrencies, such as bitcoin cash (BCH) and ethereum classic (ETC), on Nov. 12, 2017, when the service outage occurred. According to the lawsuit, during the service interruption, the average number of orders per hour doubled, causing transaction flows to significantly slow down.
A district court initially ruled in favor of Bithumb against the investors. However, the decision was subsequently overturned by an appellate court, which ordered Bithumb to pay damages ranging from 8,000 won to 8 million won to each of the 132 investors. The supreme court upheld this ruling Thursday.
According to the appellate court:
The burden or the cost of technological failures should be shouldered by the serv...
|Forbes Gives Alchemy Pay Web3 Innovation Pioneer Award
PRESS RELEASE. Singapore, 12 January 2023: Fiat-crypto payment gateway Alchemy Pay and its co-founder and majority shareholder, Shawn Shi, have been officially recognised by Forbes with the Web3 Innovation Pioneer award on 11 January. The Singapore-based payment solutions provider has a major research and development hub across Asia that has pioneered new payment systems at the very edge of modern fintech - convenient payments that seamlessly enable the movement of funds between traditional fiat currency and cryptocurrency.
After its establishment in 2018, Alchemy Pay became Southeast Asia's number one crypto payment system. 2022 saw Alchemy Pay move to d2c solutions for the first time. Its on and off-ramp and NFT checkout were all launched in Q3 and Q4 last year. The constant upgrades and innovations since the initial launch have created a full suite of offerings that satisfy newcomers and surprise crypto natives. Platforms across the Web3 space, from large-scale exchanges to small, specialised token issuers and dApps, have integrated the ramp services (plugin or API).
The Forbes award recognises the company's pioneering achievements in fintech/crypto. Forbes picked out entrepreneurs, investors, and contributors to open source projects and crypto ecosystems which have made significant contributions to the development of Web3, saying they were 'aiming to find cases of value creation by innovative companies in the Web 3.0 field, and to show how the current Web 3.0 wave is shap...
|Dutch Crypto Exchange Refuses DCG's Offer to Pay 70% of its Debt
Dutch crypto exchange Bitvavo claimed to have received an offer from Digital Currency Group (DCG) on January 9th to repay 70% of its debt within an acceptable period.
However, the company refused the offer citing that the crypto conglomerate has sufficient funds available for full repayment.
The development comes days after the trading platform revealed it is actively engaged in conversations with DCG to recover the resulting debt along with other creditors and advisors.
The official statement read,
'The residual amount is still under discussion with DCG as they are only willing to repay part of it within a period acceptable to Bitvavo. As creditors, the latter is not acceptable because DCG has sufficient funds available for full repayment.'
Digital Currency Group is currently under investigation by the US Department of Justice’s Eastern District of New York as well as the Securities and Exchange Commission (SEC). The focus is on the internal transfers between the company and its troubled subsidiary - crypto lending firm - Genesis Global Capital.
The ongoing financial distress was spurred by Genesis becoming one of the companies to be affected by the FTX contagion.
It halted withdrawals on November 16th, citing liquidity issues, and has been involved with investment bank Moelis & Company for restructuring purposes.
It was earlier reported that Genesis owes $900 million to the crypto exchange Gemini. The two platforms jointly operated together a product called Gemini ...
|Core Scientific Files for Bankruptcy Protection, Firm Plans to Continue ...
On Dec. 21, 2022, one of the largest bitcoin mining operations in the industry, Core Scientific, filed for Chapter 11 bankruptcy protection in the Southern District of Texas. According to the filing, Core Scientific has roughly 1,000 to 5,000 creditors and its estimated assets are worth between $1-10 billion.Core Scientific Voluntarily Files for Chapter 11 Bankruptcy Protection, Company's Largest Unsecured Creditor Is the Financial Institution B. Riley
Another crypto firm has filed for bankruptcy protection as the crypto winter has caused a myriad of businesses to shudder this year. On Wednesday, Core Scientific (Nasdaq: CORZ), one of the largest bitcoin mining companies, filed for bankruptcy in Texas.
The filing notes that Core Scientific has $1-10 billion in assets, but also $1-10 billion in liabilities as well. Additionally, Core Scientific details that the largest creditor is the financial institution B. Riley, alongside 1,000 to 5,000 other creditors.
Core Scientific joins a long list of crypto firms that have filed for bankruptcy protection this year, and is one of several crypto mining operations that have faltered financially as well. For instance, in late Sept. 2022, Compute North filed for Chapter 11 bankruptcy protection.
Financial issues have struck bitcoin mining operations like Argo Blockchain, Iris Energy, and Greenidge Generation. Greenidge managed to secure a restructuring deal with NYDIG on Dec. 20, but Greenidge's financials say voluntary bankruptcy is stil...
|Bitcoin Miner Terawulf Raises $10M in Fresh Capital to Pay Down Debt, Re...
On Monday, Dec. 12, 2022, the Maryland-based bitcoin mining company Terawulf announced that the firm has raised $10 million in capital to pay down debts. The firm also said that it restructured a deal with Bitmain which will enable the company's self-mining capacity to expand and fully leverage the 160 megawatts of Terawulf's available mining capacity.Terawulf Raises $10 Million in New Capital, Restructured Bitmain Deal Will Give the Firm 8,200 ASIC Mining Rigs
Bitcoin miners have been struggling this year as the price of bitcoin (BTC) has reduced profits for every mining participant worldwide. On Dec. 12, the publicly-listed Terawulf Inc., (Nasdaq: WULF) revealed the company has managed to raise $10 million in capital to repay debts.
'The company intends to use the aggregate net proceeds to repay the advance with Yorkville and simultaneously issue a notice to Yorkville to terminate the accompanying SEPA entered into on June 2, 2022, and for other general corporate purposes,' Terawulf's press statement details.
Additionally, Terawulf has managed to restructure a deal with Bitmain in order to add 8,200 application-specific integrated circuit (ASIC) bitcoin mining machines to the firm's operations. 'With the incremental delivery of 8,200 miners, the company is increasing its estimated Q1 2023 self-mining target to 44,450 owned miners deployed 5 [exahash per second] (EH/s) from its prior estimate of 36,250 owned miners (4.3 EH/s).'
Over the last six months, Terawulf's shares hav...
|SBF Might Start a New Business to Earn and Be Able to Pay FTX Victims
The former CEO of crypto exchange FTX - Sam Bankman-Fried - said he is willing to start a new business venture to earn enough funds and pay back victims of the collapse.
He reiterated his position that what happened to the platform was not a fraud but rather a lack of management skills.
In a recent interview for BBC, SBF pledged to do everything he can to restore investors' losses due to his exchange's meltdown, including launching a new project that could possibly provide him with the necessary funds:
'I would give anything to be able to do that. And I'm going to try if I can.'
He dismissed the rumors that FTX's sister company - Alameda Research - was misusing customer funds and that he and other executives facilitated flows of cash and cryptocurrencies between the two entities.
The 30-year-old American reiterated his position that the decay of the trading venue was not a fraud but rather a management mistake:
'I didn't knowingly commit fraud, I don't think I committed fraud, I didn't want any of this to happen. I was certainly not nearly as competent as I thought I was.'
Subsequently, SBF said he is aware that his arrest and possible prison sentence are options on the table. However, he tries to reject such thoughts and concentrate on solutions that could solve the issue:
'There's some time at night ruminating, yes, but when I get up during the day, I try and focus, be as productive as I can, and ignore things that are out of my control.'
FTX's catastrophe has been a...
|Barcelona and Argentina Legend Mascherano Joins Alchemy Pay as Brand Amb...
Barcelona and Argentina soccer legend, Javier Mascherano has signed for the leading fiat-crypto payment gateway Alchemy Pay. On December 1st, He announced on his social media platforms that he officially became an ambassador for Alchemy Pay, promoting its payment features and products, and will be working closely with Alchemy Pay on subsequent co-branded NFT launches.
“Just as I bridged the defense & offense throughout my career, Alchemy Pay bridges fiat currency and crypto, web2 and web3, across the globe. A perfect match!” announced Mascherano on Twitter, considering this partnership to be a perfect fit, and seeing himself embodying the same spirit as Alchemy Pay.
Mascherano is the former captain of the Argentina national team and one of the most outstanding defensive midfielders in the world of football. He shot to fame with River Plate before moving on to European club giants Liverpool and Barcelona. As one of the true legends of the game, Mascherano is also a social media legend, with 5.8M Instagram followers and 8.1M Twitter followers, and is enthusiastic about crypto utility for the people of Latin America. This ambassador endorsement will benefit users in Latin America, enabling them to use their local currency to buy crypto, cheaply and easily, on Alchemy Pay’s OnRamp Solution.
Argentina successfully toppled Lewandowski’s Poland stars to qualify for the knockout stage of the World Cup. Alchemy Pay also announced its support for Argentina, foll...
|Crypto Scammer Coin Signals Ordered to Pay $2.8 Million to Victims
The American authorities ordered Jeremy Spence (a.k.a. 'Coin Signals') to pay over $2.8 million in restitution to victims of his cryptocurrency fraud.
The US Department of Justice (DOJ) sentenced the criminal to 42 months in prison in May for running a scheme that defrauded investors with more than $5 million.
'An Illustration of the CFTC's Best Efforts'
The Commodity Futures Trading Commission (CFTC) announced that the US District Court for the Southern District of New York entered a consent order for a 'permanent injunction, restitution, and equitable relief' against Jeremy Spence. The man, popular in the community as 'Coin Signals,' operated a crypto Ponzi scheme and drained over $5 million worth of digital assets from conned investors.
The authorities ordered him to reimburse victims with $2,847,743 and enforced permanent registration and trading bans on the wrongdoer.
The CFTC reminded that Spence ran his scam between December 2017 and April 2019. He lured approximately 175 people and siphoned huge amounts of bitcoin (BTC) and ether (ETH).
The investigation determined that the American issued false performance statements, misrepresented his operations, and lied about his entity's liquidity to gain the users' trust. 'Space eventually admitted to customers that he had engaged in lies and deceit,' the court stated. 'Coin Signals' pleaded guilty in November 2021 and received a prison sentence of three and a half years several months later.
The US r...
|Circle Integrates Apple Pay for Existing Merchants
Circle – the issuer behind USDC – has announced that merchants supported by the company will now be able to accept Apple Pay.
The integration will allow customers to check out from apps and the Safari browser without a need to “fill out lengthy forms.”
Per Circle’s announcement on Tuesday, Apple Pay support will let crypto-native businesses provide better assistance to customers wishing to use more traditional payment methods.
The integration will also let customers buy crypto directly through Apple Pay.
“Traditional businesses can also take advantage of this enhancement to shift more retail payments to digital currency and experience the benefits of USDC settlement,” stated Circle.
Circle’s USDC is fully backed by cash and U.S. treasuries, according to it latest attestation report on the state of its reserves. This allows its stablecoin’s price to reliably track the value of $1 at all times.
Stablecoins like USDC have grown popular as a means of transmitting value across the world using crypto rails, without the need for intermediaries or erroneous remittance fees.
Businesses can enable Apple Pay with Circle by creating a Circle Account and Apple developer account.
Circle said it will introduce more payment methods in the future that help reduce payment friction at checkout.
Alongside Tether, Circle clarified last Wednesday that it held no exposure to the bankrupt crypto exchange FTX.&...
|Alchemy Pay Brings OnRamp and NFT Checkout to London Token2049
PRESS RELEASE. Fiat-crypto payment provider, Alchemy Pay, is bringing its mainstream-friendly services to Europe’s foremost crypto conference - London Token2049. The Singapore-based company has taken its payment network infrastructure and pivoted to direct-to-customer (D2C) services, with its highly versatile and customisable NFT Checkout and On & Off Ramp Solutions.
Europe's Premier Crypto Event
TOKEN2049 is known for its industry-leading events held annually. Founders, CEOs, and projects come together to build relationships and share developments. It showcases sectors like DeFI, Gaming, Social Fi, NFTs, Metaverse, and DAOs, and brings together more than 3,000 attendees, 100+ sponsors, and around 150 speakers.
Alchemy Pay On & Off Ramp
After years providing business-to-business (B2B) fiat-crypto gateway services, Alchemy Pay’s ramp is now serving users on crypto platforms and dApps across multiple sectors. Alchemy Pay now boasts 300+ fiat payment channels worldwide.
Founded in Singapore in 2018, Alchemy Pay’s strength in Southeast Asia and Latin America is clear. Its support for countless regional mobile wallets has paid off in regions that are now seeing the highest adoption rates of anywhere in the world.
Access to ‘Hidden’ Emerging Markets
Alchemy Pay’s Ramp Solution supports Mastercard and Visa in 173 countries, and furthermore supports particularly high utility in Southeast Asia and Latin America. Across the world, mobile wallets a...
|South Africa Retailer Pick n Pay Now Accepts Payment in Bitcoin at 39 Ou...
Pick n Pay, the South African retailer, has revealed that some of its grocery stores are now accepting bitcoin payments. To ensure payments are affordable, Pick n Pay reportedly uses the Bitcoin Lightning Network which is said to be suitable for 'high volume, low-value transactions.'2017 Trial Served as Proof of Concept
The South African grocery retail giant, Pick n Pay, announced on Nov.1, 2022, that some of its stores - about 39 - are now accepting bitcoin (BTC) payments. The retailer also said it plans to enable crypto payments in all its stores 'in the coming months.'
According to a Business Insider report, Pick n Pay's decision to expand bitcoin payments to 39 outlets followed the success of a pilot phase that commenced more than four months earlier. Before that, Pick n Pay tested bitcoin payments at a staff canteen and even though the technology seemed expensive at the time (2017), it nonetheless served as a proof of concept, the report added.
Crypto as a 'Mainstream Method of Payment'
In a statement that explains why it decided to introduce the bitcoin payment option to some of its stores, Pick n Pay said:
While for many years crypto was something for specialists on their computers, or used by early adopters trying it out, things are changing. The Financial Sector Conduct Authority's recent announcement paves the way for cryptocurrency as a mainstream method of payment.
The retailer also noted that crypto is now being used by the unbanked 'or by those wanting to pay a...
|Elon Musk Will Force Twitter Users to Pay for Verification: Report
After less than a week as “Chief Twit,” Elon Musk is pushing for the social platform’s first major change – starting with its verification service.
The CEO is reportedly forcing his employees to put a paywall behind Twitter's coveted blue checkmark. If they don’t comply, they will be fired from the company.
Musk’s plan is specifically to quadruple the cost of Twitter Blue – a monthly subscription service that offers additional features at Twitter – from $4.99 to $19.99. The new, more expensive subscription would also be required to verify its users.
According to The Verge, users who are already verified would be given ninety days to subscribe to Twitter, Blue, or else lose their subscription.
On Sunday, employees were told that the project must be implemented by November 7th, or else they’ll be fired. That same day, Musk clarified that the verification process was already being “revamped.”
American internet entrepreneur Jason Calacanis ran a Twitter poll on Sunday asking followers how much they’d be willing to pay to stay subscribed to the platform. After overwhelmingly stating that they “wouldn’t pay”, Musk called the poll “interesting.”
Former Twitter COO Anthony Noto, however, believes the majority of respondents aren’t being entirely honest.
“None of these answers are high enough,” he said. “People will pay $49/mth & if they won&...
|Bitcoin Reclaims $20,500; Here Are The Levels You Should Pay Attention T...
BTC's price shows strength as it bounces from a downtrend range price rallied to a high of $20,800 with eyes set on $21,600.
BTC could rally more as the price creates more bullish bias as the price builds more bullish momentum above $20,300. BTC's price remains strong on the daily timeframe above the 50 Exponential Moving Average (EMA) as the price aims for more rallies. The price action displayed by Bitcoin (BTC) in the past few days has been nothing short of tremendous, creating a more bullish scenario across the crypto market. The crypto market is looking increasingly welcoming as many altcoins continue producing over 30% gains. The likes of DOGE have seen some great runs in recent times rallying from a low of $0.055 to a high of $0.1 after the news broke out of Elon Musk taking over Twitter, considering he is referred to as DOGE father. This has affected DOGE positively. (Data from Binance)
Bitcoin (BTC) Price Analysis On The Weekly Chart. Bitcoin (BTC) has struggled to regain its bullish momentum in recent times; despite the uncertainty that has befallen the crypto space, the price of BTC has enjoyed a measure of relief after showing so much strength on the weekly low, rallying to a high of $20,800.
Previous weeks have been nothing short of a tough and boring time for BTC price as price continued in its range movement around $19,000, leading to some altcoins losing their key support zone despite the market having low liquidity.
After its weekly close of above $19,...
|US Judge Orders Bitcoin Ponzi Operator Imprisoned for Ignoring Court Ord...
A district judge has ordered a bitcoin Ponzi operator to be arrested and imprisoned after he ignored multiple court orders and failed to pay the U.S. Securities and Exchange Commission (SEC) $40 million. He pleaded guilty to securities fraud in 2015.Bitcoin Ponzi Operator Faces Imprisonment After Failing to Pay SEC
Judge Amos L. Mazzant of the U.S. District Court for the Eastern District of Texas said earlier this week that a bitcoin Ponzi operator will be arrested and imprisoned for civil contempt unless he immediately provides overdue documents and payments, Bloomberg reported.
Trendon Shavers, a resident of McKinney, Texas, owes the U.S. Securities and Exchange Commission (SEC) more than $40 million after pleading guilty in September 2015 to one count of securities fraud. However, he has repeatedly disregarded court orders, Judge Mazzant said, adding:
Shavers's flagrant disregard for the court's orders on multiple occasions leads to only one conclusion: Shavers will only comply with the court's orders if he is incarcerated.
The SEC charged Shavers and his company, Bitcoin Savings and Trust (BTCST), in July 2013 for running a bitcoin Ponzi scheme. According to the authorities, he defrauded investors out of at least 764,000 BTC.
The SEC obtained a ruling against him in September 2014. The regulator said at the time:
The court's judgment requires Shavers and BTCST to pay more than $40 million in disgorgement and prejudgment interest, and orders each defendant to pay a civil p...
|US DOJ Sues Founder of Defunct Crypto Mixer Over Failure to Pay $60M Fin...
The United States Department of Justice (DOJ) has sued Larry Dean Harmon, the founder of defunct cryptocurrency mixer Helix, for failing to pay a civil penalty of $60 million since his indictment in 2020.
The lawsuit was filed in the U.S. District Court for the District of Columbia on Wednesday. According to the filing, the $60 million fine was imposed on Harmon after he pled guilty to charges against him in 2020.
Helix Laundered Over $300M
In December 2019, the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury Department, indicted the Helix creator for violating the federal Bank Secrecy Act (BSA). The agency accused the developer of conspiring to launder monetary instruments and operating an unlicensed money-transmitting business through his crypto mixer.
Before the indictment, Harmon operated Helix as a crypto tumbler from June 2014 through December 2017. During its active years, Helix processed over $311 million in more than 1.2 million transactions.
In July 2017, Harmon became the CEO of Coin Ninja, a crypto exchange that also provided mixing services. The firm also offered DropBit, a service that allowed users to send and receive bitcoins through text messages and Twitter handles without going through the know-your-customer (KYC) procedures.
FinCEN noted that Coin Ninja, DropBit, and Helix were not registered as money services businesses during their operation.
DOJ Seeks Interest and Costs
Harmon pleaded guilty to the money laundering con...
|Spritz Finance Activates Crypto Bill Pay With Any Token on Polygon
[PRESS RELEASE - Greenwich, Conn., 11th October 2022]
Spritz Finance, which recently launched its beta for US residents, has expanded its bill-pay capabilities to support payments with any token on the Polygon network. This is a major step forward in realizing the company’s mission of making crypto useful in the real world for millions of people.
Spritz Finance, a Web3 finance app that lets users pay bills with cryptocurrency directly from their preferred crypto wallets, has launched a new feature to enable TradFi payments with any token on the Polygon network. The feature will let users better integrate their on and off-chain finances, all from one place.
Spritz beta users in the US can now pay their credit cards, mortgage, utilities, student loans, and more with any token on the Polygon network, including the network’s native currency MATIC – all without having to first swap for stablecoins like USDC.
“We knew that our users wanted the option to pay bills with any token, from Polygon’s biggest coins to leveraging any and all on-chain rewards generated from DeFi, blockchain-based gaming, and income earned by working for DAOs,” said Chris Sheehan, Spritz founder and CEO. “This feature is an integral part of the Spritz platform, and saves our customers valuable time and money. By avoiding unnecessary swaps and fees,more people can use their crypto for everyday purchases and monthly expenses seamlessly.”
While still in beta, Sprit...
|Norway's Finance Minister Thinks Local Bitcoin Miners Should not Pay Les...
Trygve Slagsvold Vedum - the Finance Minister of Norway - urged the government to scrap its crypto program that allows domestic bitcoin miners to pay a reduced rate on electricity.
In his view, the current market conditions and the ongoing energy crisis in Europe are key reasons for this amendment.
BTC Miners Should not Be Treated Differently
In 2016, the Norwegian government introduced certain energy benefits for data centers, including cryptocurrency miners, by enabling them to pay less for energy than general consumers.
According to Finance Minister Vedum, though, the macroeconomic picture has drastically changed in the past six years, and that requires certain changes:
'We are in a completely different situation in the power market now than when the reduced rate for data centers was introduced in 2016. In many places, the supply of power is now under pressure, which causes prices to rise.
At the same time, we see a development with increased extraction of cryptocurrency in Norway. We need this power of community. The government will therefore discontinue the scheme.'
The Minister further claimed that removing the program would generate additional revenue of NOK 150 million (approximately $14 million) for Norway's economy.
Trygve Slagsvold Vedum , Source: Wikipedia
Currently, Europe's power market is under major pressure due to Russia's limited energy deliveries. The COVID-19 pandemic is another factor that worsened the situation. Numerous companies reduced their electrici...
|EMAX Token Skyrockets 95% After Kim Kardashian Agreed to Pay the $1.26 M...
Yesterday, the renowned model, businesswoman, and one of the most popular people on social media - Kim Kardashian - made the crypto headlines by agreeing to pay $1.26 million to promote Ethereum Max (EMAX).
Shortly after the news, the token's valuation headed north and is currently 95% up daily.
Earlier this year, a lawsuit filed in California claimed that the reality TV star Kim Kardashian and the boxing champion Floyd Mayweather inappropriately promoted a digital currency known as EthereumMax (EMAX).
According to the prosecutors, advertising the token (considered by the US Securities and Exchange Commission as crypto security) could have resulted in significant losses for investors.
It is worth noting that Kardashian, who has over 330 million followers on Instagram, received $250,000 to popularize EMAX on her account.
Yesterday (October 3), the model agreed to pay $1.26 million in penalties and interest for misleading her fans to invest in an unregulated financial asset.
Apparently, though, there is no such thing as bad publicity, as the token's price reacted immediately.
Since the latest developments, the price of EMAX has skyrocketed by over 95% and is currently trading at $0.000000008566. Its trading volume for the past 24 hours surpassed $280,000, while prior to the agreement with the SEC, it was around $13,000.
At one point last night, the token was worth $0.000000009586, which was a 130% rise compared to yesterday's figures.
The post EMAX Token S...
|SEC Orders Crypto Firm to Pay Harmed Investors $35 Million — Charg...
The U.S. Securities and Exchange Commission (SEC) has ordered crypto firm Sparkster and its CEO to pay $35 million into a fund for distribution to harmed investors. The securities regulator also charged crypto influencer Ian Balina for promoting crypto tokens without disclosing compensation received.SEC's Cease-and-Desist Order Against Unregistered Crypto Firm
The U.S. Securities and Exchange Commission (SEC) announced Monday that it has issued a cease-and-desist order against Sparkster Ltd. and its CEO, Sajjad Daya, 'for the unregistered offer and sale of crypto asset securities from April 2018 through July 2018.'
The SEC explained that 'by offering and selling crypto asset securities called SPRK tokens' to raise money to develop Sparkster's software platform:
Sparkster and Daya raised $30 million from 4,000 investors in the United States and abroad.
They told investors that SPRK tokens would increase in value, promising to make the tokens available on a crypto trading platform.
In a settlement with the SEC, Sparkster agreed to destroy its remaining crypto tokens, request the removal of its tokens from trading platforms, and publish the SEC's order on its website and social media channels. Daya agreed to refrain from participating in crypto asset securities offerings for five years.
The SEC detailed:
Sparkster and Daya agreed to settle and to collectively pay more than $35 million into a fund for distribution to harmed investors.
Crypto Influencer Ian Balina Charged by SEC
|Ukrainian Supermarket Chain to Accept Cryptocurrencies Through Binance P...
Varus, a retailer with over 100 supermarket stores across Ukraine, has partnered with the world's leading digital asset exchange, Binance, to launch cryptocurrency payments. Customers will now be able to order groceries online and cover the bill through a Binance Pay wallet.Ukrainians to Shop Online From Varus Supermarket Using Crypto
Binance, the largest cryptocurrency exchange by daily trading volume, and Ukraine's supermarket chain Varus have announced a partnership that will allow Ukrainian shoppers to purchase food and other goods online with digital coins.
Using the Binance and Varus apps, customers will be able to enjoy instant crypto payments and fast delivery in nine Ukrainian cities: the capital Kyiv, Dnipro, Kamianske, Kryvyi Rih, Zaporizhzhia, Brovary, Nikopol, Vyshhorod, and Pavlograd.
To take advantage of the payment option, crypto owners will have to download and install the Binance app on their Android or iOS devices. Then, they can go to the Varus website, select the products they want to buy and send the digital money from the Binance Pay wallet.
In a report on the announcement of the new payment method, the crypto news outlet Forklog noted that earlier this year the Binance Pay service was integrated by the Ukrainian chain of stores for home appliances and electronics, Foxtrot.
Whitepay introduced crypto payments for products offered by major Ukrainian tech stores in August. Customers of retailers like Tehnoezh and Stylus can now use the service provided b...
|Crypto Yields Are Starting to Pay Less Than Government Bonds
The once notoriously high yields provided by crypto lending services are now struggling to compete with more traditional, safer options.
While yields for 3-month treasury bills slowly rise, AAVE’s lending rates on USDC have slumped massively since May. Rates for the two products have now crossed one another, meaning government debt is offering a better payout than its decentralized competition.
High Risk, Low Reward?
According to data provided by Bloomberg and Aavewatch, USDC deposited into AAVE V2 on Ethereum now yields just 0.2% per year – down from 2.4% in mid May. By contrast, US 3 month treasury bills have tripled from 1% yield to 3% in that same period.
The increase is largely due to Federal Reserve activity, which has driven up yield in every sector besides crypto. Digital asset markets still largely track the stock market, which has naturally tanked in response to the central bank’s hawkish policy. That same policy has sparked a steady upward climb for short term treasury bills.
The sharpest drop in yields on AAVE appeared to occur between May 13th and 22nd, dropping from 2.4% to 0.9%. This was only a week after Terra’s collapse, which helped trigger a massive contagious meltdown across the stablecoin lending arena in the following months.
Yet this by no means signals lower risk involved with crypto lenders. Unlike traditional markets, crypto yields are not determined by risk profile, but by trading volumes. According to DeFi ...
|Dubai Luxury Hotel Palazzo Versace Allows Guests to Pay in Crypto
Guests staying at Palazzo Versace Dubai have, since September 7, had an option to settle payment for services rendered via cryptocurrency. The hotel also plans to add the crypto payment option to its e-commerce platforms to enable guests to pay for gift vouchers using digital currencies. Cryptocurrency Infrastructure Provider
A luxury hotel based in Dubai, Palazzo Versace, recently said it would allow guests to pay for services offered at its premises using cryptocurrency. As stated in a Business Traveller report, starting on September 7, guests staying at Palazzo Versace Dubai are able to settle their respective hotel bills using bitcoin, ethereum, and binance coin (BNB).
According to the report, Binance, one of the world's largest crypto exchange platforms, is the luxury hotel's 'cryptocurrency infrastructure provider.' Besides allowing guests to use crypto when paying for dining, stays and spa experiences, the hotel will also accept crypto payments from guests using its e-commerce platforms to buy gift vouchers and items in the flower shop.
By accepting crypto, Palazzo Versace Dubai joins the growing list of businesses operating in the country that have embraced cryptocurrency.
'Pioneers of Innovation in the Hospitality Business'
Meanwhile, the managing director of Palazzo Versace Dubai and founder of Palazzo Hospitality, Monther Darwish, is quoted describing the hotel's decision to accept crypto payments as one for the future. Darwish said:
We continue to be the pioneers...
|Argentinean Province Allows Residents to Pay Taxes in USDT (Report)
The authorities of the Mendoza province reportedly enabled citizens to pay government fees and taxes in cryptocurrencies. The region's tax administration described the move as 'the strategic objective of modernization and innovation,' which could give 'taxpayers different means to comply with their tax obligations.'
Contrary to Mendoza's pro-crypto stance, Argentina's central bank is not so much in favor of the industry. Earlier this year, it banned domestic financial institutions from facilitating digital asset services.
According to a local report, settling taxes in cryptocurrencies instead of pesos became possible in one of the largest provinces in Argentina - Mendoza.
Initially, the region's authorities will accept payments in Tether (USDT), while at a later stage, it plans to add more digital assets as an option.
Taxpayers can use popular crypto wallets such as Binance, Buenbit, Bitso, Ripio, Bybit, and Lemon Cash.
In April this year, the lawmakers of Buenos Aires also considered something similar. Mayor Horacio Rodriguez Larreta stated that the capital aims to digitize its administration processes, adding that blockchain technology will play a key role.
He also hinted that citizens might get the chance to pay their taxes in cryptocurrencies in the near future:
'And we are going to work to facilitate the payment of taxes, the ninth measure of this plan. Together with the leading companies, we are working so that those who wish can pay their taxes in cryptocurrencies.'
|Crypto processing platform Calypso Pay launches mass payouts for Tron (T...
Calypso Pay, an all-in-one crypto processing & acquiring platform, today and announced the launch of Tron (TRX) mass payouts in partnership with WatchData, a platform that helps web3 developers seamlessly interact with the blockchain.
The solution allows customers to quickly set up Tron payouts to tens of thousands of addresses while saving both time and money on fees.
When you regularly have to send money to thousands of addresses, mass payouts are a more cost-effective solution. Yet customers face multiple problems when creating mass payouts by themselves: they take up a lot of space in the memo, can block the execution of other transactions on the address, and the transaction itself might be expensive unless you set it up in the right way.
Aiming to take care of all these problems, Calypso Pay offers mass payments via smart contracts, mass payouts in one transaction (for BTC and DOGE), and even an option of launching mass payouts by uploading a CSV file — all options come with low fees and significantly speed up the financial operations.
Benefits of Mass Payouts via Tron (TRX):
Saves up to 10 hours, and reduces the risk of making a mistake during a transaction to 0%.
Increases savings as the number of recipients increases: for 10 transactions, the savings is 55%, while for 100 or more transactions — 99%.
To provide a better experience, Calypso Pay partnered with WatchData, a flagship infrastructure product of TheWatch company — WatchData monitors...
|ADA Pay plugin now available on open-source ERP and CRM suite Odoo
COTI, a DAG-based blockchain platform for payment networks, announced today that Rodolfo Miranda, one of the winners of COTI's Catalyst Fund 7, has completed an ADA Pay plugin on Odoo (On Demand Open Object), an open-source solution for business applications with more than 7 million users.
One of the first necessary steps in bringing ADA to the masses is to grow the ADA Pay gateway solution. The ADA payment system for businesses, built on the Cardano blockchain, allows merchants to accept ADA as a payment method with instant settlement.
The goal of this project was to develop and deliver an application for the Odoo platform that acts as a payment acquirer that accepts ADA for payments using the ADA Pay API.
Previously, COTI shared news of another project Catalyst team, Carl Henry Global, that created an ADA Pay plugin for 8 different shopping platforms including WordPress, Joomla, and WooCommerce.
“Delivering this project can’t be more streamlined. The ADA Pay API just simplifies the development process. Not only is it well documented, but also the COTI team was prompt to give us support to all of our questions and concerns. I really appreciate COTI professionalism and dedication.”
- Rodolfo Miranda, ADA Plugin creator for Odoo
As part of the COTI — Project Catalyst challenge, developers were invited to create ADA Pay plugin solutions ready for integration on different e-commerce platforms. 5 out of 16 submissions were funded.