Mining crypto

Today in Crypto: FTX Reportedly Intends to Raise Capital

A man suspected of laundering stolen money using malware allegedly linked to Electrum, a crypto wallet service, has been arrested in the Netherlands, Coindesk wrote on Wednesday (September 14).

The man’s identity has not been released, although the report says he is 39 years old. He’s a suspect and his crypto has been seized.

“Cryptocurrency, like regular money, is vulnerable to all kinds of crime,” police said. “The anonymous, cross-border nature of cryptocurrency provides opportunities for criminals.”

In other news, FTX is raising capital and there is talk of a possible acquisition, a Coindesk report said on Wednesday, citing a source familiar with the matter.

There are several potential takeover candidates, some of which are companies operating retail platforms, although negotiations are still in their early stages.

Meanwhile, a foundation for CBS founder William Paley will auction off many of New York’s Museum of Modern Art masterpieces as he attempts to expand the museum’s digital footprint, a wrote the Wall Street Journal on Wednesday.

Paintings and sculptures sold include works by Picasso, Renoir, Rodin and more. They have been in the custody of MoMA since Paley’s death in 1990.

Most of the proceeds will go towards MoMA’s goals, including the potential launch of a streaming channel and the purchase of more art, possibly digital content and art attached to non-fungible tokens (NFTs).

Elsewhere, Bybit, a Singaporean crypto exchange, will not offer crypto futures and options in Brazil due to a ban from Brazil’s Securities and Exchange Commission (CVM), Coindesk wrote on Wednesday.

Bybit said it was speaking with CVM to resolve the issue. The controversy according to CVM was that Bybit allegedly “sought to raise funds from investors residing in Brazil for investments in securities”, but had not obtained authorization to be a securities intermediary.

Finally, the largest Ethereum mining service provider, Austria’s Ethermine, is shutting down its servers for miners due to “the merger,” Bloomberg wrote on Wednesday.

The merger will change the most widely used blockchain from a proof-of-work mechanism to a proof-of-stake, so it will no longer be possible to mine Ether on the Ethereum network. This will hopefully help reduce power consumption.

“As a result of this transition, the Ethermine Ethereum mining pool will enter withdrawal mode only after the proof-of-work mining phase is complete,” Ethermine tweeted on Wednesday.

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