MoonPay payment cryptocurrency company CEO and co-founder Ivan Soto-Wright, along with other executives at the firm, embezzled $150 million in November 2021.
The managers sold their shares during a $555 million Series A financing round, at which point the company’s valuation hit $3.4 billion.
The money raised was to go toward business development, but some of it went to share repurchases.
A month after the round, Soto-Wright purchased a Miami Beach waterfront mansion for $38.5 million.
MoonPay had not previously disclosed a secondary sale of $150 million worth of stock. The company’s rank-and-file employees also said they were unaware of the potential resale of the stock.
Tether announced its expansion in Georgia with a strategic investment in the CityPay payment company.
The amount of the investment is unknown.
Earlier CityPay launched a cryptocurrency payment service in Georgia together with Gate exchange.
Deutsche Telekom, one of the world’s largest telecommunications companies, has become a validator for the Polygon network.
Previously, the company also became a validator for Q, Flow, Celo, Chainlink and Ethereum.
According to Ninja News, the Binance exchange will stop offering confidential coin trading services in France, Poland and Italy.
DCR, DASH, ZEC, ZEN, PIVX, NAV, SCRT, XVG, FIRO, BEAM, XMR and MOB will no longer be available to users from these regions.
A message with this information was sent out by the company to customers via e-mail.
This decision was made at the request of the financial regulators.
The core team of Trust Reserve (formerly CNHC Group) has been detained by Chinese police.
Trust Reserve is issuing RMB and Hong Kong dollar-based stablenecoins. The project’s Shanghai office was seized by the court.
In March, the company raised $10 million from KuCoin Ventures, Circle and IDG Capital.
Earlier, there were rumors that Chinese authorities also clamped down on Multichain developers.
Research group dWallet Labs has discovered a vulnerability in the Tron network that could have led to the theft of $500 million.
The problem was related to a critical bug in the network’s multi-signature mechanisms.
“We can bypass the multisignature verification process by signing the same message with nondeterministic one-time numbers. That way, we can generate many different valid signatures for the same message using the same private key,” the analysts reported.
This is made possible because the Tron system ensures that signatures are unique, but verifies the uniqueness of signers.
The vulnerability was discovered in February and patched just days later.
Blockchain analytics platform Nansen will cut 30% of its staff. This was announced by the company’s CEO Alex Svanevik.
He said the reasons for the decision were the rapid scaling of the company in its early years and the difficult situation in the cryptocurrency market.
The Bybit exchange has announced that it is ceasing to operate in Canada due to a complicated regulatory environment.
It will not be possible to open new accounts as early as May 31.
Existing customers will not be able to make deposits and open new positions beginning July 31, and all users have until September 30 to be forced to close their positions and withdraw funds.
Earlier the Canadian market was abandoned exchange Binance.
Binance plans to allow some institutional clients to keep trading collateral in a bank rather than on the exchange.
According to Bloomberg sources, the exchange has already negotiated the proposal with some clients. It is assumed that the customer would be able to use bank deposits as collateral for margin trading.
The Swiss FlowBank and Frick of Liechtenstein could be potential intermediaries.
According to one version of the proposal, customer funds at the bank would be blocked as part of a trilateral agreement, while the exchange would provide the customer with stabelcoins as collateral.
The money from the bank could then be invested in money market funds to earn interest, in order to offset the interest on the borrowing.
The Central Bank of the United Arab Emirates and the Hong Kong Monetary Authority have agreed to strengthen cooperation in three main areas, including financial infrastructure, communication in financial markets, and regulation of virtual assets.
To date, the UAE and Hong Kong have attracted significant attention from the cryptocurrency community amid progress in the regulation of digital assets.