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PAY Price   

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PAY Price:
$13.3 K
All Time High:
Market Cap:
$2.0 M

Circulating Supply:
Total Supply:
Max Supply:


The price of #PAY today is $0.00974 USD.

The lowest PAY price for this period was $0, the highest was $0.00974, and the exact current price of one PAY crypto coin is $0.00973733.

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 SOL or other crypto coins.


The code for TenX crypto currency is #PAY.

TenX is 5.9 years old.


The current market capitalization for TenX is $1,957,382.

TenX is ranking downwards to #757 out of all coins, by market cap (and other factors).


There is a modest daily trading volume on #PAY.

Today's 24-hour trading volume across all exchanges for TenX is $13,339.


The circulating supply of PAY is 201,018,255 coins, which is 98% of the maximum coin supply.


PAY is a token on the Ethereum blockchain.


PAY is available on several crypto currency exchanges.

View #PAY trading pairs and crypto exchanges that currently support #PAY purchase.


Note that there are multiple coins that share the code #PAY, and you can view them on our PAY disambiguation page.



Coin Cafe to Pay $4.3 Million Restitution to Defrauded Investors: NYAG

    Brooklyn-based crypto firm Coin Cafe has been ordered by the office of the Attorney General to refund over $4 million to cryptocurrency investors. The restitution comes after investigations revealed that the company charged users exorbitant fees without their consent. 'Free' but not Free In a press release on May 18, the New York Attorney General's office claimed that Coin Cafe charged investors high fees to store bitcoin with the company's wallet, despite advertising the service as 'free' on their website. Coin Cafe, which recently received approval for a virtual currency license from the New York State Department of Financial Services (DFS) in January 2023, also known as BitLicense, claimed to offer free storage services for investors but started charging fees for crypto storage in September 2020 without informing customers. Based on investigations, the company increased the fee four different times, each one higher than the previous charge. In October 2020, Coin Cafe carried out what the press release described as the 'most drastic fee structure,' where the platform charged users $99 in bitcoin monthly if they did not trade or transfer BTC on its site within one month. Also, one New York customer paid $10,000 in fees in one month, while the crypto trading company charged more investor fees of up to $51,000 over 13 months. Subsequently, Coin Cafe's exorbitant charges left investors' accounts with nothing. According to a statement from the press release: 'Ultimately, Coin C... read More

Harvard Business Review: Alchemy Pay, Crypto Payment Ecosystem Pioneer

    Introduction. When we discuss the future of the digital economy and real life in the next generation of the Internet, we are inevitably talking about Web 3.0. The future is unknown, but we have seen some tech companies already exploring and deepening on their tracks, such as Alchemy Pay, mentioned in this article. We will analyze the targeted strategies and measures it has taken in the crypto payment space, taking into account the company's sustainable long-term goals while building a rich crypto payment ecosystem that is prepared for the Web 3.0 vision with its mission of bridging fiat and crypto global economies. These measures are very informative and should be considered by other company leaders. Once seen by mainstream zeitgeist as a fringe technology destined to die out in society, cryptocurrency is now becoming a target of investment for countless fintech industry leaders since the powerful financial future it portrays. The proliferation of crypto payment platforms and users is driving the entire ecosystem closer to mainstream adoption. As more and more large financial companies enter the crypto payment space, the competition in this field is becoming increasingly fierce. Alchemy Pay, an industry veteran with extensive industry experience and solid product technology, is performing exceptionally well in this track on all fronts. Founded in Singapore in 2017, the payment gateway that seamlessly connects cryptocurrencies and global fiat currencies for businesses, develo... read More

US Customers Can Pay With Ethereum Through PayPal via MetaMask Integrati...

    On May 11, MetaMask revealed that it had added PayPal as a payment option for Ethereum purchases. However, the new payment channel is only available to U.S. users. “MetaMask is the first web3 wallet to enable users to buy ETH using PayPal, a leader in the digital payment space,” it said. The integration also supports ETH transfers from PayPal to MetaMask, creating more self-custody adoption. However, many of those responding to the tweet were more interested in when MetaMask would be launching its own token. The firm has urged users to avoid scams for MASK tokens, adding that there are no immediate airdrop plans. #DYK MetaMask is the first web3 wallet to enable users to buy ETH using PayPal! Get started here — MetaMask (@MetaMask) May 11, 2023 MetaMask PayPal Collaboration The collaboration was initially announced in December, but payments have only just been launched. “With this new integration, users will be able to use their PayPal balance, linked bank account, or debit card to add ETH to their MetaMask wallet directly.” Ethereum purchases can be made easily through the MetaMask browser extension, mobile app, or portfolio feature. The “Buy Crypto” feature also supports debit and credit cards and bank transfers. In addition to PayPal, MetaMask already supports several payment channels, including Coinbase Pay, MoonPay, Sardine, Transak, and Wyre. Recent Moves by PayPal and MetaMask In a quarterly report file... read More

Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future f...

    The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden.Miners Face Higher Expenses, More Challenges Under New Legislation Kazakhstan’s coffers have received 3.07 billion tenge (almost $6.9 million) in tax payments from entities involved in the minting of digital currencies in 2022, the State Revenue Committee of the Ministry of Finance announced, quoted by local media and the crypto news outlet Forklog. Cryptocurrency miners in the Central Asian nation are required to pay taxes and fees since Jan. 1, last year. In 2023, they have already transferred 240 million tenge (almost $540,000) to the budget, by April 27. All due payments for the first quarter must be made by May 25, the finance ministry reminded. On Feb. 6, this year, President Kassym-Jomart Tokayev signed the new law “On Digital Assets in the Republic of Kazakhstan,” some provisions of which are yet to come into force. It regulates crypto-related activities, such as mining, and is accompanied by amendments to the tax code. Most notably, the legislation restricts miners’ access to cheap electricity after they were blamed for power shortages. According to Sergey Putra, Senior Coordinator for Governmental Relations at the National Association of Blockchain and Data Cent... read More

US Court Orders Operator of South African Bitcoin Ponzi Scheme to Pay Ov...

    Johann Steynberg, the founder and CEO of Mirror Trading International, has been ordered to pay over $1.73 billion in restitution to victims of his bitcoin ponzi scheme. The court has also ordered Steynberg to pay a civil monetary penalty of a similar amount. The Commodity Futures Trading Commission (CFTC) conceded that orders requiring payment of funds 'may not result in the recovery of any money lost because wrongdoers may not have sufficient funds or assets.''Largest Fraudulent Scheme Involving Bitcoin' in the History of the CFTC A United States Federal Court recently handed down a default judgment and permanent injunction against Johann Steynberg, the CEO of the now-defunct bitcoin ponzi Mirror Trading International (MTI). According to a statement released by the U.S. derivatives regulator the Commodity Futures Trading Commission (CFTC) on April 27, Steynberg is required to pay $1,733,838,372 in restitution to defrauded victims and a $1,733,838,372 civil monetary penalty. The derivatives regulator’s statement also revealed that the penalty handed down by the court 'is [the] highest civil monetary penalty ordered in any CFTC case.' The court action itself is reported to be the 'largest fraudulent scheme involving Bitcoin charged in any CFTC case.' As previously reported by News, Steynberg, who was based in South Africa at the time, had repeatedly faced allegations of operating a bitcoin Ponzi scheme before he fled to Brazil in December 2020. Shortly after ... read More

South African CEO Ordered to Pay a Record $3.4 Billion Penalty in CFTC B...

    A South African fugitive who ran an unregistered commodity pool to defraud unsuspecting victims of foreign exchange and bitcoin has been ordered to pay over $3 billion in restitution and civil monetary penalty. The judgment marks the largest monetary penalty ever recorded in a CFTC fraud case involving bitcoin. CFTC's Biggest Bitcoin Fraudulent Case A US judge in the District Court for the Western District of Texas ordered Cornelius Johannes Steynberg, a South African fugitive, to pay a penalty of $3.4 billion in a bitcoin fraud case, as stated in a press release by the Commodity Futures Trading Commission (CFTC). The CFTC stated that Steynberg, founder and CEO of South African company Mirror Trading International Proprietary Limited or MIT, operated a fraudulent multi-level marketing (MLM) business model between 2018 and 2021 to solicit bitcoin from individuals to participate in a commodity pool. However, the CEO and his company ran the commodity pool without registering as a commodity pool operator (CPO) with the CFTC. As stated in the press release, Steynberg received 29,421 BTC from about 23,000 US individuals and more globally worth $1.7 billion in March 2021, with the CFTC stating that the CEO misappropriated the funds. The recent court order by Judge Lee Yeakel is based on a complaint filed against the South African CEO in July 2022. Steynberg is to pay a penalty of over $3.4 billion shared equally. While $1.73 billion will be for restitution to defrauded victims, the ... read More

Robinhood to Pay Over $10 Million in Penalties to Numerous US States for...

    The California Department of Financial Protection and Innovation (DFPI) joined a multi-state settlement with Robinhood, which will pay approximately $10.2 million in fines for registering operational deficiency that negatively affected investors during the COVID-19 crisis. The crypto-related company was slapped with another $30 million penalty last summer by the New York State Department of Financial Services (NYDFS) for violating anti-money laundering and cybersecurity laws. More Trouble for Robinhood The DFPI became the latest state regulator to join the multi-million agreement with Robinhood. Prior to it, the watchdogs of Alabama, Colorado, New Jersey, Delaware, Texas, and South Dakota maintained that the firm harmed some of its investors in March 2020 by neglecting several policies. According to the regulators, it failed to inform users about the risk associated with multi-leg option spreads, did not design a customer identification program, and did not exercise due diligence before approving certain option accounts. It also did not cooperate with the Financial Industry Regulatory Authority (FINRA) and other relevant agencies. The operational setbacks allegedly occurred in March 2020 (at the beginning of the devastating COVID-19 pandemic) when hundreds of thousands of investors relied on Robinhood's platform.  NASAA President Andrew Hartnett praised the mutual efforts of the state regulators, which aim to benefit affected investors.  'Robinhood repeate... read More

FTX's Bankman-Fried Is Allegedly Using Alameda Funds to Pay for Legal De...

    According to two sources close to FTX, Sam Bankman-Fried, the disgraced co-founder, gave his father, Stanford Law professor Joseph Bankman, millions of dollars. The funds are reportedly being used to pay for legal costs. The sources said that Bankman-Fried allegedly gave 'at least $10 million' from the now-defunct quantitative trading firm Alameda Research to his father.Sources Claim SBF’s Legal Defense Is Paid for by Alameda Loot After the latest revised indictment charges against Sam Bankman-Fried (SBF), Forbes reports that funds tied to Alameda Research may be paying for SBF's legal defense. Forbes contributors Sarah Emerson and Steven Ehrlich explained that two unnamed sources disclosed that SBF directed 'at least $10 million from Alameda' to his father, Joseph Bankman. The duo is accused of using a 'lifetime estate and gift tax exemption' for the funds, which were allegedly given to Bankman in 2021. SBF has pleaded not guilty to his indictment charges, and last year, he publicly stated that he had only $100,000 in his bank account. According to Forbes reporters, 'it had remained unclear, until now, how the former billionaire would afford his pricey defense.' At the end of 2022, it was disclosed that SBF would be represented by white-collar lawyer Mark Cohen. Cohen and his litigation firm, Cohen & Gresser, are well-known for representing Ghislaine Maxwell, a convicted sex trafficker and confidant of Jeffrey Epstein. The two sources informed Forbes that in 2021, SBF ... read More

FOMO Pay Joins Forces with Singapore Clearing House Association (SCHA) t...

    FOMO Pay, a payment technology company based in Singapore, has recently announced that it has become an official member of the Singapore Clearing House Association (SCHA). The SCHA is a non-profit organization that operates the payment systems in Singapore, including the Automated Clearing House (ACH) and the Electronic Payment System (EPS). Membership in the SCHA enables FOMO Pay to participate in the interbank payment network and to provide its customers with more efficient and secure payment options. According to FOMO Pay CEO, Louis Liu, becoming a member of the SCHA is an important step for the company as it continues to expand its presence in Singapore and the wider Southeast Asian market. Liu stated that the company's membership in the SCHA will enable it to offer a wider range of payment options and to better serve its customers. FOMO Pay provides payment solutions for merchants in a variety of industries, including hospitality, retail, and transportation. The company's payment platform supports a range of payment methods, including credit and debit cards, e-wallets, and QR codes. With its new membership in the SCHA, FOMO Pay is poised to become a major player in the Singaporean payments industry and to help drive the adoption of new payment technologies in the region. read More

Former White House Senior Advisor David Plouffe Joins Alchemy Pay Adviso...

    Serving as a committee member of Alchemy Pay's management and advisory board, and as Global Strategic Adviser to support Alchemy Pay's expansion and growth in global markets, contributing actively to strategy, compliance and government relations. Alchemy Pay, Singapore based pioneer of the world's first payment gateway solution to bridge the gap between fiat and crypto economies, has announced the appointment of legendary campaign manager and former White House Senior Advisor, David Plouffe, as Global Strategic Advisor. Plouffe is credited with the strategy and grass-roots public engagement savvy that won Obama's 2008 presidential campaign, subsequently becoming Senior Advisor to the President in the Obama Administration. Plouffe has noted Alchemy Pay's backbone mission in the cryptocurrency industry, and its steady course and leadership in the industry's evolution. 'Cryptocurrency and decentralized ledgers are the newest permanent features of the global economy,' said Plouffe. 'Alchemy Pay has chosen to focus on bridging public sector and private sector agendas as a strategy in its mission to provide fiat-crypto transaction services. Alchemy Pay understands that the key to crypto sustainability and growth is broadening utility cases by focusing on payment channels, proper compliance and user experience.' After his work for Obama, Plouffe became the Senior Vice President of Policy and Strategy for Uber in 2019, and in 2022 Plouffe joined the Binance Global Advisory Board. Abo... read More

Alchemy Pay Partners With ZD Group, Parent Company of Mouette Securities...

    The leading fiat-crypto payment gateway, Alchemy Pay, has revealed that it has joined forces with ZD Group, the parent company of Mouette Securities, a reputable global investment fund. Within the frame of this strategic collaboration, ZD Group provides investment and shares its four financial licenses authorized by Securities and Futures Commission (SFC) and Insurance Authority (IA) of Hong Kong with Alchemy Pay, while Alchemy Pay commits to provide crypto payment solutions to all businesses in ZD Group. This collaboration aims to promote resource sharing and foster stronger business ties between the two entities. It should be highlighted that ZD group has shared its Hong Kong Type 1, 4 and 9 financial services licenses granted by SFC with Alchemy Pay. The three licenses are crucial and mandatory for conducting financial investment businesses in Hong Kong, respectively covering areas in dealing in securities, advising on securities and asset management. In addition, Alchemy Pay will be granted access to the Insurance Broker Company license held by Sunbright Wealth Management, a subsidiary of ZD Group, as issued by the Insurance Authority of Hong Kong. This license will help Alchemy Pay to develop potential business with negotiating or arranging contracts of insurance. Mouette Securities has been listed as a registered institution on SFC of Hong Kong's official site. The Financial Services Licenses details can be found by searching 'Mouette Securities' via Name Search or 'BLE... read More

Binance Expects to Pay Fines to Settle With US Regulators for Past Condu...

    Crypto exchange Binance expects to pay fines to U.S. authorities to settle regulatory and law-enforcement investigations over its past conduct, the company's chief strategy officer reportedly said. When Binance began its business, the company was unfamiliar with the rules it needed to comply with in the U.S., the executive explained.Binance Plans to Settle With US Regulators Binance's chief strategy officer, Patrick Hillmann, revealed Wednesday that the cryptocurrency exchange expects to pay fines to settle existing U.S. regulatory and law-enforcement investigations, the Wall Street Journal reported. He explained that in its early days, Binance was unfamiliar with the legal framework and regulations in the U.S. to mitigate the risk of bribery and corruption, money laundering, and economic sanctions. The Binance executive stated that the crypto exchange is currently working with regulators to identify potential 'remediations' the company has to go through 'to make amends' for its past conduct. He expects the outcome to be a fine but cautioned that there could be more. 'We just don't know. That is for regulators to decide,' he emphasized. Several U.S. authorities are reportedly investigating Binance. The U.S. Department of Justice (DOJ) is reportedly probing the crypto exchange over violations of U.S. money-laundering laws. According to reports, the U.S. Securities and Exchange Commission (SEC) is probing the company over the BNB crypto token while the Commodity Futures Trading... read More

Brazilians Will Be Able to Pay Taxes With Crypto

    Brazilians will now be able to pay part of their state taxes using cryptocurrencies. Banco do Brazil, a mixed ownership bank, is launching the option of paying a set of taxes with crypto, using Bitfy, a Brazilian cryptocurrency startup, as a payment processor, exchanging the cryptocurrencies paid for Brazilian reals on the fly. Brazilians Will Have the Opportunity of Paying Taxes With Crypto Using Banco Do Brazil Cryptocurrencies are making inroads when it comes to their usability in Brazil. Banco do Brazil, one of the oldest banks in Brazil, and in part owned by the Brazilian government, has added the option for Brazilians to pay state taxes with cryptocurrencies using its platform. The bank is using the services of Bitfy, a cryptocurrency payments processor, as a bridge to complete these payments, according to reports. The company advertises its solution as the first of its kind, stating that the adoption of blockchain technology will optimize public processes, bringing more transparency and credibility to institutions. Lucas Schoch, CEO and founder of Bitfy, stated: We will drive the adoption of the new defi economy, developing the necessary infrastructure to increase autonomy and democratize the use and access to the digital asset ecosystem throughout Brazil. Bitfy, which received an investment from Banco do Brazil in November looking to integrate tokenization and payment services in its portfolio, also announced the lineup of cryptocurrencies supported for these... read More

Musk's Twitter Payment Vision in Tune With Fiat-Crypto Gateway Alchemy P...

    Elon Musk's Twitter has fallen into revenue difficulties, hoping to find new sources of revenue outside the original $5 billion a year advertising business model. According to a recent Financial Times report, Musk is betting this ambition for revenue growth on the payments business. He has said he wants Twitter to become a 'universal app' that combines information, payments and commerce. As part of the plan, Twitter intends to provide fintech services, such as peer-to-peer transactions, savings accounts and debit cards. Previously, Twitter has been testing the payment business in scenarios such as rewarding creators. An official document shows that Twitter has registered as a payment processor with the U.S. Treasury Department in November 2022 and began actively applying in various states to obtain the licenses required for the payment business, which is expected to be completed within a year to meet the regulatory and compliance needs of Twitter payments. Notably, the payment system will first support payments in fiat currency, but the idea of adding cryptocurrency payments has been included in the initial idea, according to informed sources. With Twitter being the main battleground for the Web3 project's social media presence and Musk himself being a long-time holder of Dogecoin, there is speculation that Musk intends to lead Twitter into the crypto payments business and make payments a part of Twitter's grand vision. As a result of this expectation, Dogecoin (DOGE) rose af... read More

Core Scientific Hands Over 27K Mining Rigs to NYDIG to Pay off a Debt

    The once-prominent bitcoin miner Core Scientific inked an agreement with the New York Digital Investment Group (NYDIG) to hand over 27,403 of its mining machines and thus pay off an outstanding debt of $38.6 million. The company filed for bankruptcy protection a few days before Christmas 2022. Looking for a Way Out According to a filing with the bankruptcy court for the southern district of Texas, Core Scientific agreed to transfer over 27,000 of its mining rigs (around 18% of its total equipment) to NYDIG to eliminate its debt. The deal needs to be approved by the relevant magistrates before becoming official. Core Scientific claimed those machines are no longer vital for its business, highlighting the importance of paying off the loan.  It borrowed $77.5 million from the investment management firm in 2020 to expand its business. However, it stopped settling the debt towards the end of 2022 due to shrinking revenue caused by the bear market. The miner's net losses climbed to $1.7 billion as of Q3 2022. It sold nearly 8,000 BTC (almost its entire stash) to stay afloat, but that could not halt the freefall. The low price of the primary cryptocurrency (compared to the 2021 bull run) and the rising energy costs pushed Core Scientific towards filing for Chapter 11 bankruptcy protection at the end of December.  Its shares plunged to $0.05 upon announcing the news. However, the improving condition of the cryptocurrency market at the start of 2023 has c... read More

South African Retailer Pick n Pay Now Accepting Payments via BTC at All ...

    Pick n Pay, one of South Africa's leading retailers, reportedly now accepts bitcoin as payment at all its stores across the country. Using the bitcoin lightning network, Pick n Pay's customers can now buy items such as groceries, airtime and electricity tokens. Using BTC for Everyday Purchases Just a few months after it began accepting bitcoin payments at selected outlets, the South African retailer, Pick n Pay (PNP) now reportedly accepts bitcoin at its more than 1,500 stores across the country. According to reports, PNP customers can now buy groceries, airtime and electricity using the bitcoin lightning network. As reported by News in Nov. 2022, the South African retail giant's acceptance of bitcoin as a means of payment was made possible by the Financial Sector Conduct Authority (FSCA)'s decision to declare crypto a financial product. Before that, PNP said it had experimented with BTC payments at one of its staff canteens in 2017. While the experiments were successful the retailer said using the technology was at that time seemingly not cost-effective. BREAKING: 🇿🇦 One of South Africa's largest retailers, Pick n Pay, now officially accepts #Bitcoin and Lightning payments in ALL of its over 1,500 stores 🙌 - Bitcoin Magazine (@BitcoinMagazine) February 1, 2023 Reacting to the announcement, Crypto QR, a South Africa-based crypto payments firm, saluted PNP's move which allows residents to use bitcoin for everyday purchases. 'Good news, eve... read More

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... read More

Roger Ver Breaks Silence on Genesis Lawsuit, Claims He Has Sufficient Fu...

    Early Bitcoin adopter and executive chair of, 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 ... read More

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... read More

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... read More

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 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... read More

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... read More

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... read More

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 ... read More

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... read More

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... read More

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... read More

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... read More

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... read More

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.&... read More

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