Texas Regulator Spots Crypto Firm at Fraudulent COVID-19 Charity Claims

The Texas securities regulator has continued its crackdown on cryptocurrency scams, spotting an alleged fraudulent crypto firm that made fake claims about COVID-19 donations. On April 8, the Texas State Securities Board (TSSB) issued an emergency cease and desist order against Ultra Mining, alleging that the crypto mining firm is involved in diverse illicit activities including purportedly fraudulent claims to double investors’ money. As specified in an official TSSB notice, the Texas action was brought jointly with the Alabama Securities Commission to stop the ongoing illegal offering. According to the…

Crypto Custody Firm Lists XRP for Institutional Clients

Qualified digital asset custodian, Anchorage Trust Company, has added XRP to the list of assets supported by its institutional custody solution. The company announced support for the third largest cryptocurrency by market cap in a blog post on April 2. Anchorage claims that its custodial solution is safer than cold storage, while allowing the benefits of asset usability, offering features such as staking, airdrops, and even trading from custody. Xpring resources provide reliable solution According to Diogo Mónica, Anchorage co-founder and President, XRP support relies on resources including those developed…

US Holding Firm Halted Mining Business After Bitcoin Crashed Below $4K

Although the cryptocurrency markets have slightly recovered following massive sell-offs in mid-March, Bitcoin’s (BTC) faltering price has led to notable miner instability and closures. Soon after Bitcoin dropped below the $4,000 threshold on March 13, DPW Holdings, a Nasdaq-listed holding company, announced that it is temporarily shutting down its cryptocurrency mining business, Digital Farms. DPW notifies the SEC about multiple changes to its business in relation to the coronavirus According to a March 18 business update filed with the United States Securities and Exchange Commision (SEC), the Digital Farms’ suspension…

Blockchain Analytics Firm Coin Metrics Raises $6 Million

Cryptocurrency analytics firm Coin Metrics has closed a Series A funding round worth $6 million. In a blog post on March 26, Coin Metrics said the round was led by Highland Capital Partners and the $6 million investment would be used to grow the firm’s team, expand their product offerings and “provide enhanced coverage of digital assets.” Other firms including Castle Island Ventures, Communitas Capital, Coinbase Ventures and Digital Currency Group also participated in the funding round. Coin Metrics was created in 2017 by Nic Carter and Aleksei Nokhrin as…

Using Ransomware, Hackers Steal and Publish Medical Data of Firm Researching Coronavirus

Black hat hacker group Maze has infected the infrastructure of a firm researching the coronavirus with ransomware, managing to steal and publish sensitive data. The hack of medical information Cybersecurity firm Emsisoft told Cointelegraph on March 23 that Maze group’s hackers compromised United Kingdom medical firm Hammersmith Medicines Research. The published data includes sensitive data on medical test volunteers such as id documents like passports, medical background and details of the tests. Emsisoft threat analyst Brett Callow said: “[The data] is on the clear web where it can be accessed…

IT Firm Helps Healthcare Providers Fight Crypto Ransomware Amid Coronavirus

As the novel coronavirus crisis continues, a cybersecurity firm has started offering free help to healthcare providers that fall victim to cryptocurrency-demanding ransomware. According to an announcement on March 18, cybersecurity firm Emsisoft partnered with incident response company Coveware to allow free access to ransomware-related services at no cost to healthcare providers. The initiative aims to get the impacted organizations operational in the shortest time possible to reduce the impact on patient care to a minimum. “A perfect storm” According to the firm, ransomware attacks have a seasonal aspect with…

Crypto Lending Firm BlockFi Raising Interest Rates on BTC and ETH

Clients of one crypto lending company may soon notice some changes in response to the recent drops in the market.  Starting on April 1, BlockFi will be raising the interest account rates on Bitcoin (BTC) and Ether (ETH).  According to CEO Zac Prince, BlockFi users holding between 0-5 BTC now will earn a 6% annual percentage yield (APY), while those with up to 500 ETH will earn a 4.5% APY. Stablecoins like the Gemini Dollar (GUSD) and USD Coin (USDC), will retain their 8.6% APY interest rates. Why are the…

US Firm Plans $100 Million ICO to Fund Electric Vehicle Production in Africa

Alternet Systems Inc (ALYI), an energy storage, military application, and electric motorcycle firm, has entered into a new partnership to launch a cryptocurrency dedicated to funding electric vehicle projects in Sub-Saharan Africa, according to a March 11 announcement. While Alternet did not name the company it has partnered with, Alternet Systems revealed that the cryptocurrency has successfully been minted on the Ethereum blockchain. Alternet Systems plans $100 million ICO ALYI plans to raise $100 million through an initial coin offering (ICO), adding that the planned token sale has “received interest…

Venture Studio Invests $3 Million in Crypto Firm First Digital Trust

A Taiwanese venture studio just became the new lead investor for a Hong Kong-based crypto custodian following a multimillion dollar investment this week. Nogle announced yesterday they had given $3 million to First Digital Trust (FDT), the digital asset arm of Legacy Trust. The investment is intended for the financial custodian to develop its own crypto asset platform for the Asia market. FDT’s Rapid Settlement and Clearing Network trading platform for digital assets is set to be launched in May. The platform may provide an alternative solution for Asia markets…

Crypto Software Firm Zabo Raises $2.5M in a Seed Round

Zabo has announced it has raised $ 2.5 million in seed funding, allowing it to extend its portfolio of services to continue connecting its customers’ cryptocurrency wallets to banks, brokerage firms, FinTech apps, and tax software. As detailed in a March 5 blog post, the seed round was led by Moonshots Capital and included funding from Blockchange Ventures, Castle Island Ventures, Digital Currency Group, CoinShares, Tezos Foundation, Capital Factory, among others. Bolstering connections with mainstream financial services Zabo’s technology is used in a wide variety of financial services applications, both…