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BeInCrypto
BeInCrypto
Barry Silbert Steps Down from Grayscale Board Just Ahead of Crucial Bitcoin ETF Ruling
about 2 months ago
CryptoNewsLand
CryptoNewsLand
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Silbert’s departure sparks speculation amid expectations for SEC’s Bitcoin ETF decision. Crypto responses vary: strategic move or insider trading amid Bitcoin ETF anticipation. Crypto community awaits Bitcoin ETF news as Grayscale Chairman resigns. Barry Silbert, Chairman of Grayscale, has resigned, coinciding with heightened anticipation for SEC approval of Bitcoin ETFs by January 10. The news has ignited a spirited discussion within the crypto community, with various responses shedding light on possible implications. BREAKING Grayscale Chairman Barry Silbert has resigned, as SEC approval of Bitcoin ETFs expected by January 10 pic.twitter.com/rI8ZLWg9LB — Radar (@RadarHits) December 26, 2023 Some responses downplay the significance, noting Silbert’s continued role as CEO of DCG, the parent company of Grayscale. This perspective suggests that the resignation may not be a major event, emphasizing Silbert’s ongoing leadership within the larger organization. Conversely, a more speculative response posits that Silbert’s resignation could be a strategic move to legally engage in BTC purchases before potential ETF approvals. This theory implies that Silbert, recognizing the value in retail BTC acquisition, chose to unburden himself from board responsibilities to capitalize on personal gains. Community sentiments diverge, with some expressing fear, uncertainty, and doubt (FUD), anticipating delays in Bitcoin ETF approvals. On the optimistic side, there’s hope that a new chairman may usher in improved policies for Bitcoin and crypto adoption. Speculation extends to the possibility that Grayscale may have received information about being the sole ETF applicant denied approval, prompting the resignations. Other theories include conflicts of interest or even the potential involvement of insider trading. Parallels are drawn to how Changpeng ‘CZ’ Zhao departed from Binance in a somewhat analogous manner. The overarching sentiment is one of eager anticipation within the crypto community, with hopes for positive developments in the forthcoming Bitcoin ETF announcement. As the SEC’s decision looms, the industry remains watchful for any potential impact on the crypto landscape. Read Also Coinbase CPO Resigns Amid Widespread Crypto Firm Resignations FTX Files For Bankruptcy, SBF Resigns as CEO Bitcoin Core Dev Resigns Ahead of Kleiman vs Wright Trial Financial Strategist’s Take: Ripple’s Success Surpasses Grayscale ETF Milestone Coinbase Legal: SEC Had No Reason To Deny Grayscale’s BTC ETF The post Grayscale Chairman Barry Silbert Resigns Amid Speculation on Bitcoin ETF Approval appeared first on Crypto News Land.

about 2 months ago
Cointelegraph
Cointelegraph
followers

Top Stories This Week US judge sides with SEC in Terraform Labs case over unregistered securities A United States federal judge has ruled in favor of the Securities and Exchange Commission on claims that Terraform Labs and its former CEO, Do Kwon, offered and sold two unregistered securities. The court granted summary judgment in favor of the SEC, which alleged that Terraform Labs and Kwon offered and sold LUNA, TerraUSD and Mirror as unregistered securities. The court cited a previous comment from Kwon, stating that LUNA holders simply need to [s]it back and watch [him] kick ass, to conclude LUNA satisfied the Howey test. Grayscale refiles Bitcoin ETF application as Barry Silbert departs Crypto asset manager Grayscale lodged an amended S-3 filing with the United States Securities and Exchange Commission on the same day Barry Silbert the CEO of Grayscales parent company, Digital Currency Group announced his resignation from Grayscales board of directors. Some crypto market commentators speculate that Silberts departure could significantly increase the odds that Grayscale will successfully convert its Grayscale Bitcoin Trust into a spot Bitcoin exchange-traded fund. The asset manager is currently awaiting a decision on this from the Securities and Exchange Commission. China calls for crackdown on Tether stablecoin over illegal forex trading Chinas Supreme Peoples Procuratorate the highest national agency responsible for legal prosecution in mainland China has warned the public against using Tether as an intermediary to trade yuan with other fiat currencies. The agency issued a statement urging local officials to implement stricter measures against Tether stablecoin use in cross-border foreign exchange transactions, claiming using Tether as a medium of exchange between the local and foreign currencies is illegal. Vitalik Buterin wants to make Ethereum cypherpunk again Ethereum needs to reignite the cypherpunk revolution that was first envisioned for the blockchain in its early days, says Vitalik Buterin, one of the networks founders. According to a Dec. 28 blog post from Buterin, Ethereum was initially envisioned as a public decentralized shared hard drive that could leverage peer-to-peer messaging and decentralized file storage, but the vision began to fade in 2017 with the turn toward financialization on Ethereum. Decentralization, open participation, censorship resistance and credible neutrality are among the cypherpunk values Buterin wants to see firmly return in Ethereums future. ARK sells remainder of GBTC holdings, invests $100M in Bitcoin ETF Cathie Wood-led institutional asset management firm ARK Invest liquidated its entire remaining Grayscale Bitcoin Trust (GBTC) holdings worth $200 million on Dec. 28. The investment firm used half of the money, about $100 million, from the sale of GBTC to invest in Bitcoin Futures ETF Bito. ARK Invest started off-loading GBTC shares in October when the Bitcoin price first hit $34,000. Bloomberg ETF analyst Eric Balchunas said this latest investment shift by Ark has made it the second-largest Bito holder. Winners and Losers At the end of the week, Bitcoin (BTC) is at $41,826, Ether (ETH) at $2,295 and XRP at $0.61. The total market cap is at $1.64 trillion, according to CoinMarketCap. Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Bitcoin SV (BSV) at 89.86%, Sei (SEI) at 59.32% and Mina (MINA) at 48.28%.  The top three altcoin losers of the week are Bonk (BONK) at -22.09%, FTX Token (FTT) at -16.66% and WEMIX (WEMIX) at -15.48%.For more info on crypto prices, make sure to read Cointelegraphs market analysis. Read also Features The ethics of hiring cheap Filipino staff: Crypto in the Philippines Part 2 Features Should we ban ransomware payments? It’s an attractive but dangerous idea Most Memorable Quotations The result [of spot Bitcoin ETFs] could be the creation of millions of unbacked Bitcoin. […] The very antithesis of Satoshis original vision. Josef Ttek, Bitcoin analyst at Trezor Ordinals, while disproportionately affecting the fee market, are a tiny part of the overall Bitcoin economy and pose no threat of meaningfully displacing Bitcoin on its own network.” Andrew Poelstra, director of research at Blockstream Money is not the kind of thing you want to hold. […] This is what keeps the global poor poor.” David Chaum, computer scientist and cryptographer Understanding disruptive innovation takes time. Bitcoin’s time has arrived. Hashdex If I had to make a prediction, in high-income countries like the United States, I would guess that we are 1824 months away from significant levels of AI use by the general population. Bill Gates, investor and co-founder of Microsoft Games will start building experiences specifically around interacting with NPCs. […] Youll find AI agents that act on your behalf. Yat Siu, co-founder of Animoca Brands Prediction of the week These 3 Bitcoin metrics say a fresh BTC price move is imminent Bitcoin (BTC) is showing classic signs that fresh BTC price gains are near, one longtime market participant says. In a post on X (formerly Twitter), trader and popular social media commentator Matthew Hyland predicted imminent bullish moves. Bitcoin may have flagged over Christmas, dipping to lows of $41,650, per data from Cointelegraph Markets Pro and TradingView but the tide could soon change.  For Hyland, two key BTC price indicators point the way to a short-term reversal. Coming in the form of Bollinger Bands and the relative strength index (RSI), these have provided advance notice of upside in recent months. Daily Bollinger Bands are back to squeezing to the level that triggered the last two moves up through $30k and $40k. With the Daily RSI at 2-month lows, & the 3-Day MACD currently crossing down with less than 3 days to negate, Hyland wrote. FUD of the Week Critics yell hypocrisy as Ordinals website suffers from DDoS spam attack Bitcoin Ordinals website was hit with a distributed denial of service (DDoS) attack on Dec. 27, causing the website to time out. Critics who like to accuse inscriptions of “spamming the Bitcoin network see it as an ironic form of justice. This was the first DDoS attack on Ordinals since its launch in January, according to its creator, Casey Rodarmor. Several critics found it amusing that the Bitcoin Ordinals website was effectively being spammed, particularly from those who view Ordinals inscriptions as doing the same on the Bitcoin network. Bitzlato suspends withdrawals weeks after founder agrees to dissolve exchange Just weeks after Bitzlatos co-founder, Anatoly Legkodymov, agreed in a Brooklyn court to dissolve the crypto exchange as part of a guilty plea, the Bitzlato team announced it has to temporarily suspend all Bitcoin withdrawals. The firm claimed this was only a temporary measure while it prepares and goes through upcoming legal hearings regarding its users assets seized in France. United States Attorney Breon Peace accused the crypto exchange of being used as an open turnstile by criminals. $3M of crypto stolen on Christmas Day MS Drainer scammers fleece victims Scammers have stolen $3 million worth of cryptocurrencies in 24 hours as they continue to use Google Ads to advertise malicious fake websites that use wallet-draining software. As reported by Cointelegraph on Dec. 21, scammers used MS Drainer to steal $59 million worth of cryptocurrency in 2023. According to Scam Sniffer, the attackers used Google Ads to trick crypto users into accessing fake versions of Web3 websites, including Zapper, Lido, Stargate, DefiLlama, Orbiter Finance and Radient. The security firm flagged fresh incidents from phishing sites associated with the same attackers addresses in their scam database on Dec. 25. Read also Features How to prevent AI from annihilating humanity’ using blockchain Features Aligned Incentives: Accelerating Passive Crypto Adoption Top Magazine Pieces of the Week ThankYouX hits Sothebys as his career literally blasts into space: NFT Creator ThankYouX’s art has been fired into orbit and he has a solo exhibit at Sotheby’s. Not bad for a former obsessed grafitti artist. 10 best long reads about crypto in 2023 Ethereum co-founder Joe Lubin on the band’s break-up; John McAfees widow, the ethics of orange pilling kids, restaking Best reads of 2023. Top AI tools of 2023, weird DEI image guardrails, based AI bots: AI Eye DALL-E’s weird DEI guardrails for pics of white or asian nurses, AI fails to win writing competition & amazing scientific breakthroughs by AI. Subscribe The most engaging reads in blockchain. Delivered once a week. Email address SUBSCRIBE

about 2 months ago
Shogun Saski
Shogun Saski
Cryptopolitan
Cryptopolitan
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Binance Holdings and its former chief, Changpeng Zhao, have reached a resolution with U.S. authorities. Judge Richard Jones approved the plea agreements, as revealed in recent court documents in the U.S. District Court for the Western District of Washington in Seattle. This conclusion follows Binance’s admission of guilt for contravening U.S. anti-money laundering and sanctions regulations in November. The cryptocurrency exchange agreed to a substantial payment exceeding $4.3 billion, marking a pivotal moment in the intersection of cryptocurrency operations and U.S. legal standards. Details of Binance’s legal settlement Binance, known for operating the world’s largest cryptocurrency exchange, Binance.com, faced allegations under the Bank Secrecy Act (BSA), failing to register as a money transmitter, and violations of the International Emergency Economic Powers Act (IEEPA). The settlement with the Department of Justice involves a guilty plea and a resolution to pay over $4 billion. Changpeng Zhao, also a Canadian citizen, pleaded guilty to the charge of not implementing an adequate anti-money laundering program as mandated by the BSA. This admission led to his resignation as CEO.  Last week, Zhao relinquished his position as the board of directors chairman for Binance.US, effectively eliminating any influence he held over the platform’s governance. This move also diminished his interest in the U.S. branch of the exchange to a purely economic one. CZ and Binance  The court documents highlight Binance’s focus on rapid growth and profit, often at the expense of complying with U.S. laws. Since its inception in 2017, the crypto exchange quickly rose to prominence, largely fueled by its substantial U.S. customer base. Due to its operations involving U.S. customers, Binance was obligated to register with the Financial Crimes Enforcement Network (FinCEN) as a money services business. Moreover, it was required to establish an effective anti-money laundering program to prevent its use in money laundering activities. Moreover, there have been recent updates on Zhao’s activities on X following his resignation as Binance CEO and admission of guilt. In the past week, he has shared details about his lunch, reposted a message from the new CEO of the crypto exchange, Richard Teng, and discussed taking risks. In one of his posts, Zhao mentioned that 10 years ago, he quit his job, sold his house, and invested in Bitcoin, acknowledging that not everyone should follow the same path. He emphasized the importance of understanding one’s own risk profile and learning risk management to make informed decisions. Nonetheless, Binance’s recent court case underscores the increasing scrutiny and regulatory pressure facing the cryptocurrency industry, particularly concerning compliance with anti-money laundering standards and U.S. laws.

3 months ago
TopCryptoNews
TopCryptoNews
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Cryptocurrency world, Binance‘s token BNB, is painting a challenging picture for the exchange giant amidst the recent crypto rally. The token’s lagging performance in the market, following the conviction of its former CEO and a hefty $4.3 billion fine for Binance, underlines the obstacles faced by the struggling crypto platform. So, what can be expected in the near future? Altcoin BNB Faces an Uphill Battle While the cryptocurrency market witnessed a strong 12% surge last week, reaching $180 billion, BNB traded at $231 with a modest 1.7% increase. This lackluster performance highlighted the complex landscape for Binance, especially as BNB is generally considered an indicator of sensitivity to the stock market. Legal troubles surrounding Binance, culminating in a guilty verdict for money laundering and sanctions violations on November 21, cast a shadow over BNB. Unlike its counterparts, BNB remained in the red since the beginning of the year, emphasizing the unique challenges faced by Binance in the current regulatory climate. Erosion of Binance’s Dominance While Binance continues to maintain its position as a significant player in the crypto trading arena, its dominance is waning. The exchange’s share in spot trading volumes dropped from 55% to 32% in November, reflecting a changing landscape. Industry experts anticipate a shift in the hierarchy of centralized exchanges, with competitors like OKX, Bybit, Coinbase, and Bitget poised to take the lead. The admission of guilt by Binance’s founder Changpeng Zhao and his simultaneous resignation from the CEO position have raised questions about the company’s future. Newly appointed CEO Richard Teng is faced with the daunting task of halting the decline in market share and steering the company through legal challenges. BNB’s Journey BNB experienced an 8% decline following the guilty verdict for former CEO CZ and the historic $4 billion fine. Clara Medalie, Director of Research at Kaiko, noted that BNB’s current poor performance is directly linked to Binance’s legal troubles. Despite recent setbacks, BNB has exhibited resilience over the past three years, delivering a 700% increase in performance. This year’s recovery in digital asset prices provided some support for Binance. However, legal challenges remain the biggest obstacle to BNB’s growth. Future Uncertainties and Operational Continuity As BNB grapples with immediate issues, industry observers continue to be cautious. The legal resolution undoubtedly impacted BNB’s price, but Binance continues to operate, offering a glimmer of hope amid uncertainties. Richard Teng‘s assumption of leadership, the selection of a formal headquarters, and the appointment of a board of directors, as well as enhanced financial transparency, are crucial decisions to be made. In a market where sentiments quickly change, BNB’s journey unfolds in the midst of a complex regulatory environment, serving as an example of flexibility and adaptability for the broader crypto industry. $BNB #BNBecosystem

3 months ago
Cointelegraph
Cointelegraph
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It appears that withdrawals from crypto exchange Binance have largely subsided after its $4.3-billion settlement with the United States Department of Justice last week. Data from blockchain analytics firm Nansen shows that Binance witnessed a net inflow of $87.4 million in Ethereum token deposits in the past seven days. Meanwhile, the net withdrawal of multichain tokens, which includes Ether (ETH), BNB (BNB), Avalanche’s AVAX (AVAX) and Polygon’s MATIC (MATIC), totaled $59.2 million during the same period. In the initial aftermath of the $4.3-billion settlement, Binance users withdrew more than $1 billion from the exchange. Following the initial rush of deposit withdrawals from @binance last week in response to the news of @cz_binance's departure and legal challenges, outflows from the exchange have settledEthereum: +$86.7M netflow over 7 daysMultichain: -$68M over 7 daysIt's business as usual pic.twitter.com/iMInkTzcBZ — Nansen (@nansen_ai) November 30, 2023 Since then, Binance users have withdrawn more than $7.62 billion from the exchange but have also deposited $7.56 billion in digital assets, according to Nansen data. The value of BNB, the official token of Binance’s BNB Smart Chain, has largely remained unchanged in the past month at $227. Immediately after the settlement, Changpeng Zhao resigned as CEO of Binance, followed by his resignation as chairman of the board of directors of Binance.US on Nov. 29. As part of the settlement, Zhao pleaded guilty to money laundering and faces 18 months to 10 years in prison, depending on how federal sentencing guidelines are interpreted. Sentencing is due in February 2024. Richard Teng, former global head of regional markets at Binance, has been named CEO following Zhao’s departure. In his first blog post as CEO, Teng stated, “I am deeply committed to the promise of blockchain, such as the opportunities for increased financial inclusion, cross-border remittances, and reduced transaction costs. I also see the opportunity to empower individuals to have more control over their personal data.”

3 months ago
koinmilyoner
koinmilyoner
followers

The newly appointed chief executive officer of the cryptocurrency exchange that is the biggest in the world in terms of trading volume anticipates that both cryptocurrency and his firm will see growth in the near future. According to Fortune, Richard Teng, who served as Changpeng Zhao's successor at Binance, believes that Binance's effort toward compliance will pay off in the long run, putting the firm in a position to claim a larger piece of the expanding cryptocurrency industry. Teng, who had previously served as Binance's head of regional markets, was elevated to the post of CEO last week after the resignation of Changpeng Zhao, who had previously held the position of chief executive officer of the business. Teng is quoted as saying, We are beginning from a position of strength," the speaker said. Undoubtedly, the foundations of the company are of the highest quality. We do not have any debt in our capital structure, our costs are modeled after the market, and our revenue and profitability continue to be solid. Binance will adopt a regular corporate structure under Teng's leadership, and he indicated that this structure would include a board of directors, a physical location, and financial transparency. Teng affirmed that Binance would adopt this structure. Teng is quoted as saying, "Once you have all of those corporate structures in place, I believe that those financials will be what we will be exchanging with one another. The fact that auditors demand them is something that we are all aware of, but the regulatory authorities will also require all of those things simultaneously. Therefore, as a company, we are dedicated to maintaining openness. A week ago, Changpeng Zhao, the former CEO of Binance, resigned from his position as CEO of the cryptocurrency exchange and acknowledged to breaking laws in the United States that prohibit money laundering. In the aftermath, Teng maintained that the foundations of the business of the troubled exchange were "very strong" despite the current regulatory hurdles. "Binance continues to operate the largest cryptocurrency exchange in the world in terms of volume. Our capital structure is debt-free, our expenses are modest, and despite the low fees that we charge our users, we have robust revenues and profits." #cz #BTC #RichardTeng

3 months ago
Dyacon_frost
Dyacon_frost
followers

Binance has a new CEO, the bitcoin-ETF is getting closer, and AI could destroy humanity. Let's summarize the results of the week: 💎 Cryptocurrencies 1️⃣ Changpeng Zhao pleaded (https://www.wsj.com/finance/currencies/binance-ceo-changpeng-zhao-step-down-plead-guilty-01f72a40) guilty and resigned, Binance will pay a $4.3 billion fine and will give US authorities access to monitor all transactions for 5 years. The US authorities have delivered a very direct message to the crypto industry - follow our rules or get out of the market 👀 2️⃣ Grayscale and the SEC discussed (https://twitter.com/JSeyff/status/1727110861196849256) the process of converting a BTC trust into a spot ETF. BlackRock held a similar meeting with (https://twitter.com/JSeyff/status/1727341988436209903) BlackRock. The story of the soon-to-be ETF continues to be spun, expect a continuation next week 🤑 3️⃣ Bitcoin supporter Javier Milay won (https://www.bbc.com/news/world-latin-america-67470549) Argentina's presidential election. The crypto community is waiting for El Salvador 2.0. We get a strange deja vu with the fall of 2021: first rising to $51k on BTC adoption in El Salvador, then flying to $69k on the approval of the first futures ETF in the US. They say history doesn't repeat itself, but it rhymes well 🤨 Finance 1️⃣ Sam Altman returns (https://twitter.com/sama/status/1727206691262099616) to the CEO chair of OpenAI, after a short but extremely interesting resignation. The company's investors and staff were not in favor of the CEO change that the board of directors decided to make. The main intrigue of this story was the rumors (https://www.reuters.com/technology/sam-altmans-ouster-openai-was-precipitated-by-letter-board-about-ai-breakthrough-2023-11-22/) about the creation of a brand new AI inside OpenAI, capable of recognizing humanity as a threat. And if it's true, and if it's an AI, tried to get Altman fired.... 🤖 2️⃣ Argentina's new President Javier Milay has confirmed (https://www.reuters.com/world/americas/argentinas-milei-says-shutting-central-bank-non-negotiable-2023-11-24/) his plans to close the Central Bank. The good news is that this will solve the problem of the Argentine peso depreciating. The bad news is that the government will lose a powerful tool for creating the appearance of its own prosperity. There are countries that have abandoned their national currencies and Argentina will not be the first. They usually switch to USD 💸 3️⃣ Since the beginning of 2023, the share of oil and gas revenues in the Russian budget has fallen (https://www.forbes.ru/finansy/500995-dola-neftegazovyh-dohodov-rossijskogo-budzeta-opustilas-do-minimal-noj-za-16-let) to its lowest level in 16 years. Keeping the price high by cutting production, and increasing oil revenues are not always the same thing. This is also bad news for anyone expecting the ruble to appreciate in 2024. In the current conditions of the oil market, only devaluation can save the Russian budget 🙄 #cryptonewstoday #BinanceSquareInsight #Bitcoin-ETF #BinanceCommunity #BTC🔥🔥 $BTC

3 months ago
CryptoNews
CryptoNews
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The new head of cryptocurrency exchange Binance, Richard Teng, must find a way to ensure that the world’s largest cryptocurrency exchange can remain competitive as it navigates both crippling financial sanctions and US government oversight. According to Fortune, the new Binance CEO says the exchange is at a stage in its development where it is transforming from an unruly tech startup into a traditional financial company, comparing the firm to “a child getting ready to go to preschool.” At the same time, he admitted that Binance made several mistakes at the stage of its rapid development. The exchange became the world’s largest crypto firm within a year of its founding, but it has learned lessons since, he says. You might also like: Binance founder and CEO plead guilty to federal charges | Opinion Teng is also confident that he can take Zhao’s place, noting his ability to steward the beleaguered exchange forward: “I need to stress that I have the confidence and trust of CZ, the leadership team, and our staff members for me to lead this very important franchise going forward. And that confidence is very important. I think that transcends the responsibility of our 150 million users, and the livelihood of our 1,000 employees.” Richard Teng, new Binance CEO Teng added that one of his main goals will be to help the crypto industry achieve the adoption of harmonized global regulations, similar to those that have long existed in the banking industry. This will include resolving the ongoing debate over whether different types of digital assets should be classified as a commodity, a security, or something else that reflects the particular blockchain technology that underlies them. You might also like: Zhao’s resignation and guilty plea: a new era for Binance and crypto? When asked whether Binance would adopt a traditional corporate structure under his leadership, Teng said yes. He says it will include a board of directors, a stable address, and transparency when it comes to finances. Once you have all those corporate structure in place, I think those financials will be what we’ll be sharing. We’ve all known that auditors [require them], but the regulatory agencies will require all those things as well. So we are committed to transparency as an organization Richard Teng Teng joined Binance two years ago, starting as the head of the Singapore branch and eventually taking the position of managing all regions outside the US. With over 30 years experience in financial services and regulation, he previously held key positions at the Global Markets Financial Services Authority in Abu Dhabi and the Singapore Exchange. He took the position of CEO of Binance after Changpeng Zhao (CZ) left that post in November. The US Securities and Exchange Commission (SEC) accuses management of the crypto exchange, including CZ, of dealing in securities without proper registration and misleading investors regarding supervisory mechanisms. The exchange has since been hit with a $4.3 billion fine in addition to its former CEO being charged with criminal violations including those violating the Banks Secrecy Act. You might also like: DoJ urges judge to require Binance’s Zhao to stay in the U.S. before sentencing

3 months ago
Rexbox
Rexbox
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🔑 Just 6 hours ago, everyone was surprised by a new tweet posted on Satoshi Nakamoto's account, the founder of Bitcoin. The account had been inactive since 2018. While some were excited about his return and optimistic about a rocket-like rise similar to 2018, others had their hopes dashed. The tweet came a day after the announcement of a new scandal involving Dr. Craig Wright, who had previously claimed to be the founder of Bitcoin. The tweet, along with the upcoming press interview, will be published here. Please encourage me to follow for more exclusive updates. "The press interview is here." nChain CEO Departs Accusing Dr. Craig Wright of Fraud Christen Ager-Hanssen, the Group CEO of blockchain technology company nChain, has announced his resignation, effective immediately. Ager-Hanssen took to social media on September 30, 2023, to detail the reasons behind his departure, highlighting a series of serious concerns he reported to the nChain board. Among these, he alleged a conspiracy to defraud nChain shareholders orchestrated by a significant shareholder and raised concerns about the ultimate beneficiary shareholder and the real individuals behind DW Discovery fund registered in Cayman. The former CEO also mentioned that the chairman had been taking instructions from shadow directors, which he found unacceptable. Evidence against Dr. Craig Wright A notable part of Ager-Hanssen’s revelation was his assertion that he had discovered compelling evidence against Dr. Craig Wright, a controversial figure in the blockchain community who claims to be Satoshi Nakamoto, the pseudonymous creator of Bitcoin. Ager-Hanssen stated that the evidence he found suggests Wright manipulated documents to deceive courts about his identity as Satoshi. This led Ager-Hanssen to believe that Wright is not Satoshi and is likely to lose his ongoing legal battles. He expressed regret for not having recognized these issues earlier, referring to Wright as “#Faketoshi” in his tweets. Reactions from the Crypto Community Ager-Hanssen’s disclosure generated a significant reaction from the cryptocurrency community. Several individuals, including Ray Youssef and Rahul Sood, supported his decision to come forward with the information. Others inquired about his past support for Wright and what changed his perspective. Ager-Hanssen acknowledged that he was misled into believing that Wright was part of the group that created Bitcoin. A Look Back at Algorand Some commentators also touched on Ager-Hanssen’s past involvement with Algorand, suggesting that he should have stayed with the project, regarded by some as superior blockchain technology. Ager-Hanssen admitted his mistake and expressed openness to exploring scalable technologies moving forward. The discussions also delved into the broader implications of the former CEO’s allegations on the Bitcoin SV (BSV) community, which largely rallied around Wright's claims in the past. Future Endeavors Although the immediate future remains uncertain for Ager-Hanssen, he expressed gratitude for the support received and hinted at his willingness to explore other opportunities in the blockchain space. The narrative underscores a significant event in the ongoing saga surrounding the true identity of Satoshi Nakamoto and adds another layer to the controversies enveloping nChain and Dr. Craig Wright. Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

5 months ago

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