Category: Crypto

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New Jersey-based Cryptocurrency Lender BlockFi files for Chapter 11 Bankruptcy

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the staff of the Ridgewood blog

Ridgewood NJ, Cryptocurrency lender BlockFi, last valued at $4.8B, filed for Chapter 11 bankruptcy yesterday, following this month’s collapse of cryptocurrency exchange FTX and its sister firm Alameda Research. BlockFi has more than 100,000 creditors, with the largest 10 creditors alone owed nearly $1.2B, including $30M owed to the US Securities and Exchange Commission, according to filings.

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Sam Bankman-Fried’s Crypto Empire Collapses

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the staff of the Ridgewood blog

Ridgewood NJ, Sam Bankman-Fried’s crypto empire filed for Chapter 11 bankruptcy, capping the rapid  downfall of one of crypto’s wealthiest and most influential moguls and his collection of high-flying ventures, including crypto exchanges and a massive trading operation.

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Despite CEO Calling Bitcoin a ‘decentralized Ponzi scheme’ JPMorgan Goes Crypto

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the staff of the Ridgewood blog

Ridgewood NJ, After JPMorgan Chase & Co., CEO Jamie Dimon slammed ‘dangerous’ bitcoin as ‘decentralized Ponzi scheme’. The No. 1 U.S. bank and a charter member of Wall Street’s financial establishment, has gone DeFi.  . JPMorgan’s Onyx unit recently executed live foreign exchange swaps of tokenized Japanese Yen and Singapore Dollars. The swaps were made as part of Project Guardian, an initiative backed by the Monetary Authority of Singapore that aims to explore DeFi applications in wholesale funding markets. Project Guardian is currently deployed on Polygon, but it will eventually be rolled out to other blockchain networks. It uses a modified version of Aave Arc.

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What is the Meaning Behind Bitcoin Faucets?

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The goal behind faucet bitcoin is to allow more people into the cryptocurrency space. The first crypto faucet was launched by bitcoin. After that, other cryptocurrencies followed similar models in bringing new crypto traders on board. 

Since Gavin Andresen launched the first bitcoin faucet in 2010, this model has been gaining more popularity. It is safe to say that the aim to promote bitcoin has been achieved. 

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NJ Bureau of Securities Issues Order Today to Halt Internet Sales of Fraudulent NFT Investments tied to the Metaverse

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the staff of the Ridgewood blog

Ridgewood NJ,  Attorney General Matthew J. Platkin announced that the NJ Bureau of Securities (“Bureau”) took action today to halt an online entity purportedly operating from the country of Georgia from offering unregistered securities in the form of non-fungible tokens (NFTs) tied to an online slots game and the metaverse.

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SCAM WARNING : “bitcoin giveaway” from [email protected] is a Scam

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the staff of the Ridgewood blog

Ridgewood NJ, folks if you receive an email from  [email protected], asking me to fill my personal info on some Google form to participate in some ‘bitcoin giveaway’  it is a scam . This is not a the Ridgewood blog  email and has nothing to do with us .

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Middle East and North Africa Was Fastest-Growing Crypto Market Over Past 12 Months

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the staff of the Ridgewood blog

Ridgewood NJ, Middle East and North Africa-based users received $566 billion in cryptocurrency between July 2021 and July 2022. The region is the fastest-growing market for crypto adoption in the world. Egypt saw the largest increase in usage, with crypto transaction volume more than tripling compared to the previous period. Turkey, which experienced 80.5% inflation in the last year, accounted for $192 billion out of the $566 billion, the largest share by one single country in the region.

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1 Inch Crypto Price Prediction

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The cryptocurrency market includes an enormous number of different projects. It is difficult to pick those worthy of attention among them. The first thing you should pay attention to is listing on large crypto platforms. If a project’s token or coin is traded on Binance, WhiteBIT, or any other credible crypto exchange, it is a sign that the project deserves attention. One of such crypto project is 1inch. This article will consider what it is all about, find out the 1inch crypto price, and see what experts think about its future prospects.

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Kim Kardashian pays over $1 million to settle SEC charges linked to a crypto promo on Instagram

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the staff of the Ridgewood blog

Ridgewood NJ, Kim Kardashian has agreed to pay more than $1 million to settle SEC charges against her. Kardashian promoted a crypto asset on Instagram without disclosing that she was being paid for the promotion. She fully cooperated with the SEC to avoid a protracted dispute. The agreement allows Kardashian to move forward with her other business pursuits, but she will not be allowed to promote crypto securities for three years.

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The Market Cap Of The World’s Largest Stablecoin Tether Is Down 19% Since May 2022

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the staff of the Ridgewood blog

Ridgewood NJ, Tether, the issuer of the world’s largest stablecoin, USDT, has released its latest quarterly attestation report compiled by its new accounting firm, BDO Italia. Tether (USDT) is an Ethereum token that is pegged to the value of a U.S. dollar (also known as a stablecoin). Tether’s issuer claims that USDT is backed by bank reserves and loans which match or exceed the value of USDT in circulation.

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Over 46,000 people reporting losing more than a billion dollars in crypto to scams since the start of 2021

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the staff of the Ridgewood blog

Ridgewood NJ, if the cryptocurrency craze feels like a tempting way to make money, or you think you’re missing out, read on. Because, according to the FTC’s new data spotlight, scammers are banking on what you don’t know about cryptocurrency — or scammers’ tricks. And that could cost you serious money.

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India is planning to introduce legislation banning cryptocurrency

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the staff of the Ridgewood blog

Ridgewood NJ, in a new study comparing searches to gage interest in Crypto currencies India ranked second with 804,000 annual online searches about cryptocurrency.

According to Reuters the government of India is planning to introduce legislation banning cryptocurrency, Reuters reports. The law would impose fines on anyone who trades, mines, or even holds cryptocurrency. The government has a comfortable majority in parliament, giving the proposal a good shot at becoming law.

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