Crypto News
OFAC Sanctions Philippines-Based Tech Company For Facilitating Pig Butchering Schemes
The U.S. Department of the Treasury has sanctioned a Philippines-based tech company, Funnull Technology Inc., for providing the computer infrastructure for “hundreds of thousands of websites” involved in pig butchering scams, according to a Thursday press release from the Treasury’s Office of Foreign Asset Control (OFAC).OFAC also sanctioned Liu Lizhi, a Chinese national working as Funnull Technology’s administrator. According to the press release, Funnull Technology has directly facilitated more than $200 million in losses from scam victims in the U.S. Of those victims, the average losses per individual were over $150,000.“Today’s action underscores our focus on disrupting the criminal enterprises, like Funnull, that enable these cyber scams and deprive Americans of their hard-earned savings,” said Deputy Secretary of the Treasury...
Circle’s NYSE Breakout Turns Heads—and Heats up Crypto Finance
Stablecoin issuer Circle Internet Financial saw its stock take off on its first day of trading, leaping from an initial price of $31 to an intraday peak of $94.84. By 3 p.m. Eastern time, the CRCL ticker was up more than 158%, cruising at $80.19. Wall Street Just Got a Straight Dose of Stablecoin Hype,Source link
Trump Family Hits Magic Eden With Cease-and-Desist Over Crypto Wallet Plans: Bloomberg
The family of U.S. President Donald Trump has allegedly sent a cease-and-desist letter to two entities behind a forthcoming — and already heavily disputed — Trump-branded crypto wallet, according to a Thursday report from Bloomberg.Since the announcement of the so-called $TRUMP Wallet (named for the President’s eponymous memecoin) earlier this week, Trump’s three sons — Don Jr., Eric, and Barron — have all publicly repudiated the project, saying that neither the Trump family nor its firm, the Trump Organization, is connected to or otherwise authorized the $TRUMP Wallet.“This project is not authorized by @Trump,” Eric Trump wrote in an X post. “I would be extremely careful using our name in a project that has not been approved and is unknown to anyone in our...
Did a Solo Bitcoin Miner Really Win a $326,000 Reward?
But social media observers say the miner rented extra hashpower.Source link
SHA256 Strikes Back: Bitcoin’s Mining Algorithm Reclaims the Throne in 2025
When 2024 wrapped up, the SHA256 consensus algorithm used by Bitcoin ranked third in profitability, but now, as we kick off June 2025, it shares the top spot, matched up with Litecoin’s Scrypt. SHA256 and Scrypt Tie for Top Mining Profits in June 2025 Dec. 29, 2024 saw Scrypt, the mining method for litecoin (Source link