BITCOIN

Former FTX chief technology officer Gary Wang took the stand on Thursday in the trial of FTX founder Sam Bankman-Fried. Wang admitted to committing financial crimes with Bankman-Fried, former Alameda CEO Caroline Ellison, and former FTX engineering executive Nishad Singh. From High School to Scandal: The Unraveling Ties of FTX’s Wang and Bankman-Fried Zixiao (Gary) Wang testified that they allowed FTX sister company Alameda Research to withdraw unlimited funds from the exchange. He said these special privileges for Alameda were coded into FTX’s systems. The testimony was published on the social media platform X by Matthew Russell Lee from Inner City Press . Wang has known Sam Bankman-Fried since high school, when they met at a summer camp in Minnesota. After college, Wang worked at Google before joining Bankman-Fried at cryptocurrency trading firm Alameda Research . When asked about the wire fraud, Wang stated: We allowed Alameda to withdraw unlimited funds. Wang explained t...

The Monetary Authority of Singapore (MAS) has granted Ripple a full license to provide crypto services. “This license underscores the real-world utility of crypto solutions for businesses and financial institutions alike, marking an important step towards wider adoption of digital assets,” Ripple explained. Ripple Fully Licensed in Singapore Ripple announced Tuesday that it is now fully licensed in Singapore. The company explained that its Singaporean subsidiary, Ripple Markets APAC Pte Ltd., has received a full Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS) to provide digital payment token services, four months after receiving in-principle approval. The announcement details: This license underscores the real-world utility of crypto solutions for businesses and financial institutions alike, marking an important step towards wider adoption of digital assets. “Singapore is known as a leader in pioneering digital asset regulation, making it ...

Volcano Energy, a renewable energy-focused Bitcoin mining company, has announced a strategic partnership with Luxor Technologies, a Bitcoin mining tech company, to launch Lava Pool, the first Salvadoran Bitcoin mining pool. Lava Pool will be harnessed by Volcano Energy, a company building a mining facility in Metapan. Volcano Energy Launches First Salvadoran Bitcoin Mining Pool Volcano Energy announced a strategic partnership with Luxor Technologies to launch Lava Pool, the first Salvadoran Bitcoin mining pool. The company, a startup focused on harnessing renewable energies for Bitcoin mining operations in the country, stated that it will only mine bitcoin through this new pool. Volcano Energy, which came out of stealth mode in June, announcing a Tether-backed $1 billion investment , is building a 241-megawatt (MW) renewable energy mining facility in Metapan using photovoltaic (solar) and eolic (wind) energy. Lava Pool is another step toward building a fully integrated Bitcoin comp...