Features TheBitTimes.com

Some Twitter users posted transactions showing large inflows of MULTI and FTM to Gate.io, leading them to perceive a connection between the two organizations. Centralized crypto exchange Gate.io denied rumors of illiquidity on May 31, stating that “there are no issues with our operations or withdrawals as rumored.” The statement comes after numerous Twitter channels had alleged that the exchange was experiencing insolvency due to an alleged connection between it and the cross-chain router protocol Multichain (MULTI). The Gate.io team said the company's "operations are running healthy" and that it is focused on establishing an affiliated trading platform in Hong Kong called Gate.HK. Rumors about Gate.io's insolvency erupted after a series of events relating to Multichain. On May 24, blockchain analytics firm Arkham Intelligence posted data showing large inflows of MULTI to Gate.io, which Arkham said was related to rumors of the protocol's team "allegedly bein...

Bryan Lee has been indicted for his involvement in CoinDeal , an alleged $45 million Crypto currency fraud . The various companies that made up this scheme were under the banner of ‘ViRSE’ and purported to be creating metaverse technologies and cryptocurrency. The scheme claimed that investors would make massive returns once the companies were purchased by wealthy investors. To support this, they were told that the firms had the support of two billionaires, one who ran a massive online retail company, and another who ran an electric car company. This was allegedly completely untrue. It’s claimed that the collected funds were misappropriated and used to purchase luxury cars and real estate . Lee was the signatory for the various bank accounts used by ViMarket, one of the companies under the ViRSE umbrella. He allegedly used investor funds to purchase his personal home, justifying it by claiming that he could build a model of the house to use in the metaverse. Th...

Bitcoin mining giant Core Scientific has been the topic of discussion for an array of reasons. Starting from its bankruptcy to shutting down 37,000 mining rigs of Celsius, the financial woes of the miners have piled on. Now, the possibility of “securities fraud” is beginning to surface. A recent report by Culper Research points out that Core Scientific has “widely oversold” mining businesses. During an investigation to see if the Bitcoin miner was part of any form of “ securities fraud and other unlawful business practices” , Culper Research made several discoveries. The securities class action firm Pomerantz LLP instigated the investigation. The firm accused the mining organization of overselling, not just its mining platforms but also its hosting business in 2021. Throughout 2022, multiple instances have highlighted a plummet in the firm’s stocks. Officials at Core Scientific reportedly “abandoned all pretense of care fo...