Category Archives: Cryptocurrencies

Key aide to Nigel Farage was frontman for Premier League billionaire’s betting syndicate, lawsuit claims

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Exclusive: George Cottrell ‘gave control’ of gambling accounts to syndicate headed by Tony Bloom, the owner of Brighton & Hove Albion FC

George Cottrell, a close associate of Nigel Farage and a key figure in Reform UK’s inner circle, acted as a front for a major gambling syndicate that was “given control” of his betting accounts, a high court document alleges.

Cottrell acted as a stalking horse for a syndicate involving one of the world’s most successful gamblers, Tony Bloom, it is claimed in the public documents, filed at the high court.

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Woman admits UK bitcoin fraud charges after ‘world’s largest’ crypto seizure

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Zhimin Qian pleads guilty after wallets with 61,000 bitcoins, currently worth over £5bn, seized from north London home

A woman has been convicted for her role in a multibillion-pound bitcoin fraud after what is thought to have been the world’s largest cryptocurrency seizure.

Zhimin Qian, also known as Yadi Zhang, 45, orchestrated a fraud in China between 2014 and 2017 that left 128,000 people out of pocket.

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Former aide to de facto leader of Georgia being held as ‘personal prisoner’, mother claims

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Marina Ramazashvili says son, Giorgi Bachiashvili, was the victim of a ‘vendetta’ by billionaire politician

The mother of a jailed former aide to Bidzina Ivanishvili has accused the de facto leader of Georgia of treating her son as his “personal prisoner” as she appealed to the west for help.

Marina Ramazashvili, a renowned ophthalmologist in Georgia, said Giorgi Bachiashvili, who has allegedly been beaten in his prison cell, was the victim of a “vendetta” waged by the billionaire politician.

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Trump-backed World Liberty proposes $1.5bn crypto holder, Bloomberg News reports

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Co-founded by president’s eldest sons, Eric and Don Jr, World Liberty has earned the family $500m since its launch

World Liberty Financial, a crypto venture backed by Donald Trump and the US president’s family, is sounding out investors for a $1.5bn fundraising round meant to set up a public company that will hold its WLFI tokens, Bloomberg News reported on Friday.

The structure of the deal is yet to be finalized, the report said, citing people familiar with the matter, adding that large investors in the crypto and tech space had been approached for the venture.

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George Osborne says UK has been left behind in cryptocurrency boom

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Ex-chancellor criticises hesitant approach to crypto and warns country in danger of missing next surge in market

The UK has been left behind in the cryptocurrency boom and is in danger of missing a second wave of demand, according to the former chancellor George Osborne.

Osborne, who has an advisory role at the crypto exchange firm Coinbase, said the country already missed out on the first generation of crypto because the formerly sceptical US had embraced digital currencies under Donald Trump.

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‘The ultimate liberty’: how Nigel Farage became a cryptocurrency convert

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Reform leader aims to make London a ‘crypto powerhouse’ and has previously hailed an ‘economic insurgency’

As Liz Truss prepared to make a U-turn on her mini-budget in October 2022, Nigel Farage discussed the economic instability on his GB News show. But he was not broadcasting from the channel’s studios in Paddington. Instead, Farage was speaking from a bitcoin conference in Amsterdam.

“With inflation forecast to perhaps get up to 20%, with increasing distrust of fiat currencies, people are looking for alternatives … Are you ready for bitcoin?” he said in his opening remarks.

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Reform UK to accept donations via bitcoin, Nigel Farage says

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Party leader says he wants UK to be a ‘crypto powerhouse’ during speech at Las Vegas conference

Reform UK will accept donations through bitcoin and other cryptocurrencies, Nigel Farage has announced.

During an appearance at the Bitcoin Conference in Las Vegas, where he was introduced as a “UK presidential candidate”, Farage said: “As of now, provided you are an eligible UK donor … we are the first political party in Britain that can accept donations in bitcoin and other cryptocurrencies.”

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Trump cabinet member’s links to El Salvador crypto firm under scrutiny

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Commerce chief Howard Lutnick’s firm backed controversial crypto giant Tether as Bukele ties deepened

Trump administration’s commerce secretary, Howard Lutnick, and his family have had extensive business interests linked to El Salvador, whose authoritarian leader Nayib Bukele has grown close to the White House and who has courted controversy by imprisoning people deported from the US in an immigration crackdown.

El Salvador also plays host to a booming cryptocurrency and new media industry, which has numerous ties to Donald Trump allies who are seeking to make money from various ventures which have sometimes drawn the attention of authorities or ethics watchdogs.

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‘Just wildly illegal’: top Democrats push to censure Trump’s plan to accept Qatar jet

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Four senators, including Cory Booker, say they will press for vote against president’s plan to take $400m gift from Qatar

Top Democrats in the US Senate are pushing for a vote on the floor of the chamber censuring Donald Trump’s reported plan to accept a $400m luxury jet from the royal family of Qatar for use as Air Force One and later as a fixture in the Trump’s personal presidential library.

Four Democratic members of the Senate foreign relations committee said on Monday that they would press for a vote later this week. They said that elected officials, including the president, were not allowed to accept large gifts from foreign governments unless authorized to do so by Congress.

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French police investigate spate of cryptocurrency millionaire kidnappings

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Victims have had fingers chopped off by attackers in crimewave targeting entrepreneurs and their families

French police are investigating a series of kidnappings of investors linked to cryptocurrency after a 60-year-old man had a finger chopped off by attackers who demanded his crypto-millionaire son pay a ransom.

In the latest of several kidnappings of cryptocurrency figures in France and western Europe, the man, who owned a cryptocurrency marketing company with his son, was freed from a house south of Paris on Saturday night. He had been held for more than two days.

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Crypto reaps political rewards after spending big to boost Trump

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America’s biggest crypto companies are riding high. Plus, can the left reclaim techno-optimism?

Hello, and welcome to TechScape. In this week’s edition, the crypto industry’s political investments pay off in spades, the left attempts to reclaim an optimistic view of our shiny technological future, and your memories of Skype.

SpaceX’s Starship explodes in second failure for Elon Musk’s Mars program

Musk tells Republicans he isn’t to blame for mass firings of federal workers

Musk survives as fellow of Royal Society despite anger among scientists

White House to overhaul $42.5bn Biden-era internet plan – probably to Musk’s advantage

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US rise of cryptocurrency and fall of regulation pose ‘profound risks’ – report

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Center for Political Accountability, which advocates for corporate disclosure, warns of fallout from Trump’s efforts

A new report warns of “profound risks” in American politics as cryptocurrency companies increase their political spending and Donald Trump oversees regulatory retreat while promising to create a “crypto strategic reserve”.

The situation “illustrate[s] the profound risks that unchecked corporate political spending presents, particularly within the volatile and often unpredictable cryptocurrency industry”, reads the report, from the Center for Political Accountability (CPA), a non-profit that advocates for corporate political disclosure.

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Nigeria sues crypto giant Binance for $81.5bn in economic losses and back tax

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Authorities blame crypto exchange, already facing four counts of tax evasion in the country, for currency woes

Nigeria has filed a lawsuit seeking to compel Binance to pay $79.5bn for economic losses the country’s government says were caused by the cryptocurrency exchange’s operations there and $2bn in back taxes, court documents showed on Wednesday.

Authorities blame Binance, the world’s largest crypto exchange, for Nigeria’s currency woes and detained two of its executives in 2024 after crypto websites emerged as platforms of choice for trading the local naira currency.

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Argentina opposition calls for impeachment of Javier Milei after cryptocurrency collapse

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President endorsed $Libra crypto token on Friday before it collapsed, leading some to call it a financial ‘rug pull’

Opposition politicians in Argentina have called for the impeachment of president Javier Milei after he touted a cryptocurrency which quickly collapsed and reportedly led to millions of dollars in losses this weekend.

Milei endorsed the little-known cryptocurrency token $Libra on Friday evening, announcing on X that the project was “dedicated to boosting the growth of the Argentine economy by funding small businesses and entrepreneurs”. His post linked to a website where the digital coin could be bought, the domain name of which included Milei’s popular catchphrase “long live freedom”.

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US releases Russian cybercriminal as part of exchange for teacher Marc Fogel

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Alexander Vinnik, owner and operator of cryptocurrency exchange BTC-e, was arrested in 2017 for money laundering

The Trump administration has released Alexander Vinnik, a cybercriminal who pleaded guilty to conspiracy to commit money laundering, to Russia, as part of an exchange that freed American schoolteacher Marc Fogel on Tuesday.

Vinnik, who arrived in Moscow on a flight from Turkey on Tuesday after having been released from custody in California, is accused of owning and operating one of the largest cryptocurrency exchanges in the world, BTC-e, which prosecutors allege facilitated the transfer of billions of dollars in transactions for criminals worldwide.

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Trump’s meme coin sparks more than 700 copycats posing as official crypto

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Army of digital imposters uses names associated with president’s family in apparent bid to deceive investors

Despite once calling cryptocurrency “a scam”, Donald Trump made a theoretical fortune of billions after launching a self-named and highly controversial meme coin immediately before his second inauguration in January.

Now an army of digital imposters is trying to cash in on the president’s name and online presence to make their own crypto killing, according to a report in the Financial Times that details hundreds of “copycat and spam coins” uploaded to Trump’s official wallet in cyberspace.

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Australian dollar plunges, ASX drops as fears of trade war spread over Donald Trump’s tariffs

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Traders even cashed out of gold, a historical safe haven, in push to protect against what could turn into wave of margin calls

The Australian dollar plunged to pandemic-era lows, the ASX fell and crypto prices were smashed as investors scrambled on Monday to prepare for a global trade war sparked by Donald Trump’s new tariff regime.

Traders even cashed out of gold, a historical safe haven, in a push to raise cash reserves to protect against what could turn into a wave of margin calls.

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The Maga backlash against Trump’s crypto grab: ‘This is bad, and looks bad’

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Trump’s meme coin has some conservatives complaining over ‘most blatant ponzi scheme in history’

When Donald Trump announced – three days before assuming the presidency of the United States, and followed shortly by Melania Trump – that he was launching a self-named “meme coin” cryptocurrency, many in the crypto industry were quick to express frustration. Ethics experts were also alarmed.

Among Trump’s base, however, a similar backlash – smaller, more muted, but similarly anguished – has been taking hold.

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Bitcoin hits new record high, dollar dips ahead of Trump inauguration – business live

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Bitcoin rises by 4% past $109,000, reversing earlier losses; Donald Trump meme coin price tanks after wife Melania also launches token

The UK chancellor, Rachel Reeves, will travel to the World Economic Forum’s annual meeting in Davos this week in the hope of convincing some of the world’s largest companies to invest, with allies saying she will use spending cuts rather than further tax increases to meet her own fiscal rules.

At the same time, the Treasury is considering a push to cut the benefits bill, in a move that is causing nervousness among Labour MPs.

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Melania Trump launches meme coin as crypto rallies on Donald’s return

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President-elect’s $Trump coin more than halved in value before steadily recovering on Sunday

The incoming US first lady, Melania Trump, has followed her husband’s lead by launching a multibillion-dollar cryptocurrency meme coin, amid a rally in digital currencies as he prepares to return to the White House.

The price of the incoming president’s token, $Trump, had tripled to more than $70 (£57), giving it a total value of over $14bn shortly after its launch on Friday. However, the launch of his wife’s coin, $Melania, pared back those gains as investors piled into her rival coin.

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