News

• Pantera Capital has purchased more Solana (SOL) from the FTX bankruptcy estate.
• FTX is auctioning off SOL, with more tokens to be sold to winning bidders.

Pantera Capital has acquired another stockpile of Solana (SOL) tokens at discounted prices from the FTX bankruptcy estate, Bloomberg reported.

The $5.2 billion crypto venture capital firm, secured the new stash of locked SOL after emerging one of the winners in the ongoing auction of Solana tokens.

Pantera, alongside crypto firm Galaxy Digital, scooped more of the altcoin in last month’s $1.9 billion SOL auction. Today’s report says the company has purchased additional tokens from the 2,000 SOL FTX sold this week.

FTX’s estate held over 41 million locked SOL worth more than $6 billion, and the bankruptcy estate’s greenlight to sell has attracted a lot of attention from institutional buyers. Pantera has looked to buy more SOL and has reportedly earmarked up to $250 million for this.

Solana (SOL) price

Solana (SOL) fell below $10 in the wake of FTX’s implosion and bankruptcy filing in November 2022.

 The cryptocurrency rose sharply through 2023, outperforming peers as former FTX CEO Sam Bankman-Fried faced criminal charges and was found guilty. Bankman-Fried was sentenced to 25 years imprisonment in March.

SOL also benefitted from an explosion of meme coins on the blockchain network, with Bonk and dogwifhat standout tokens in late 2023 and early this year.

Solana’s price has however declined from its multi-year highs above $200 reached in March. Currently, its trading around $142, down 23% in the past 30 days and 2% in the last 24 hours.

SOL price could retreat to recent support around $125 amid supply-side pressure, while a bullish flip could propel it towards the recent peak.

The post Pantera Capital buys more Solana (SOL) from FTX appeared first on CoinJournal.

• Pantera Capital has purchased more Solana (SOL) from the FTX bankruptcy estate.
• FTX is auctioning off SOL, with more tokens to be sold to winning bidders.

Pantera Capital has acquired another stockpile of Solana (SOL) tokens at discounted prices from the FTX bankruptcy estate, Bloomberg reported.

The $5.2 billion crypto venture capital firm, secured the new stash of locked SOL after emerging one of the winners in the ongoing auction of Solana tokens.

Pantera, alongside crypto firm Galaxy Digital, scooped more of the altcoin in last month’s $1.9 billion SOL auction. Today’s report says the company has purchased additional tokens from the 2,000 SOL FTX sold this week.

FTX’s estate held over 41 million locked SOL worth more than $6 billion, and the bankruptcy estate’s greenlight to sell has attracted a lot of attention from institutional buyers. Pantera has looked to buy more SOL and has reportedly earmarked up to $250 million for this.

Solana (SOL) price

Solana (SOL) fell below $10 in the wake of FTX’s implosion and bankruptcy filing in November 2022.

 The cryptocurrency rose sharply through 2023, outperforming peers as former FTX CEO Sam Bankman-Fried faced criminal charges and was found guilty. Bankman-Fried was sentenced to 25 years imprisonment in March.

SOL also benefitted from an explosion of meme coins on the blockchain network, with Bonk and dogwifhat standout tokens in late 2023 and early this year.

Solana’s price has however declined from its multi-year highs above $200 reached in March. Currently, its trading around $142, down 23% in the past 30 days and 2% in the last 24 hours.

SOL price could retreat to recent support around $125 amid supply-side pressure, while a bullish flip could propel it towards the recent peak.

The post Pantera Capital buys more Solana (SOL) from FTX appeared first on CoinJournal.

Key Takeaways

• SEC claims that the defendants raised over $5.6 million from “through the sale of investment contracts.”
• SEC has sought a permanent injunction, the repayment of the alleged misappropriation, and penalties to be levelled against its founders.

The U.S. Securities and Exchange Commission (SEC) is taking legal action against Geosyn Mining and its co-founders for allegedly deceiving investors, resulting in a $5.6 million loss. As per the lawsuit filed on April 24 in a Texas federal court, Geosyn, CEO Caleb Joseph Ward, and former operating chief Jeremy George McNutt are accused of tricking almost 64 investors between November 2021 and December 2022.

The regulator claims the defendants raised over $5.6 million from “through the sale of investment contracts.”

In the lawsuit. SEC alleges that the defendants failed to disclose critical information to new investors, including the fact that they had never purchased or activated mining machines for some previous investors.

The SEC claims that Geosyn, a Texas-based Bitcoin mining company, unlawfully sold securities without proper registration, misleading investors with false promises and withholding crucial information. The lawsuit alleges that Geosyn didn’t follow through on its promises to buy or activate mining machines as it had told previous investors.

Furthermore, Geosyn is accused of misrepresenting its services, such as offering tailored crypto-mining strategies and monitoring of mining machines. Ward and McNutt are said to have used approximately $1.2 million for personal expenses and paid around $354,500 to investors as supposed returns from mining activities, despite financial struggles.

Internal messages between the defendants supposedly revealed the need to buy Bitcoin to fund these payments. By the end of 2022, Geosyn faced financial difficulties, having minimal funds available and unable to fulfill its commitments to investors due to the absence of favorable electricity contracts.

McNutt’s departure in October 2022 left Ward in charge, who allegedly failed to disclose his own misappropriations while reporting McNutt for embezzlement. With Geosyn’s financial situation deteriorating in early 2023, Ward resorted to issuing “IOU” notes to investors for owed Bitcoin.

Despite announcing plans to file for bankruptcy in June, the company never went through with it, according to the SEC’s allegations. The SEC is seeking permanent injunctive relief,repayment of funds , civil penalties, and any other necessary equitable relief

• China investigating Yao Qian, the former head of the Digital Yuan project.
• Local media reports say Yao is under probe for “violations of discipline and law.”

Yao Qian, a leading Chinese blockchain expert who previously spearheaded China’s Digital Yuan program, is reportedly under government investigation.

The Digital Yuan is a central bank digital currency (CBDC) project that sparked other countries towards similar efforts. 

Local media reports say China’s anti-graft agency is probing Yao for alleged “violations of discipline and law.”

Ex-Digital Yuan boss under probe

Yao led the Chinese central bank’s CBDC effort before exiting the PBOC in 2018 to join the Securities Regulatory Commission.

On Friday, state-run news agency Shanghai Securities News, reported:  

“Yao Qian, Director of the Science and Technology Supervision Department and Director of the Information Center of the China Securities Regulatory Commission, is suspected of serious violations of discipline and law and is currently under investigation by the Central Committee.”

The report did not provide details of the investigation.

China’s probe against the SRC official comes a few weeks after Yao’s recent opinion piece in a local financial news outlet, The Block noted.

His article was titled “Warnings Mount Over Novel Bitcoin ETFs That Have Taken the US by Storm”. The publication went live on Chinese financial media outlet Caixin.

The ex-CBDC chief published a book covering multiple crypto topics, including the decentralised autonomous organisation (DAO), decentralised finance (DeFi), non-fungible tokens (NFTs) and X-to-earn.

The post China’s former CBDC chief is under government investigation appeared first on CoinJournal.

• China investigating Yao Qian, the former head of the Digital Yuan project.
• Local media reports say Yao is under probe for “violations of discipline and law.”

Yao Qian, a leading Chinese blockchain expert who previously spearheaded China’s Digital Yuan program, is reportedly under government investigation.

The Digital Yuan is a central bank digital currency (CBDC) project that sparked other countries towards similar efforts. 

Local media reports say China’s anti-graft agency is probing Yao for alleged “violations of discipline and law.”

Ex-Digital Yuan boss under probe

Yao led the Chinese central bank’s CBDC effort before exiting the PBOC in 2018 to join the Securities Regulatory Commission.

On Friday, state-run news agency Shanghai Securities News, reported:  

“Yao Qian, Director of the Science and Technology Supervision Department and Director of the Information Center of the China Securities Regulatory Commission, is suspected of serious violations of discipline and law and is currently under investigation by the Central Committee.”

The report did not provide details of the investigation.

China’s probe against the SRC official comes a few weeks after Yao’s recent opinion piece in a local financial news outlet, The Block noted.

His article was titled “Warnings Mount Over Novel Bitcoin ETFs That Have Taken the US by Storm”. The publication went live on Chinese financial media outlet Caixin.

The ex-CBDC chief published a book covering multiple crypto topics, including the decentralised autonomous organisation (DAO), decentralised finance (DeFi), non-fungible tokens (NFTs) and X-to-earn.

The post China’s former CBDC chief is under government investigation appeared first on CoinJournal.

• China investigating Yao Qian, the former head of the Digital Yuan project.
• Local media reports say Yao is under probe for “violations of discipline and law.”

Yao Qian, a leading Chinese blockchain expert who previously spearheaded China’s Digital Yuan program, is reportedly under government investigation.

The Digital Yuan is a central bank digital currency (CBDC) project that sparked other countries towards similar efforts. 

Local media reports say China’s anti-graft agency is probing Yao for alleged “violations of discipline and law.”

Ex-Digital Yuan boss under probe

Yao led the Chinese central bank’s CBDC effort before exiting the PBOC in 2018 to join the Securities Regulatory Commission.

On Friday, state-run news agency Shanghai Securities News, reported:  

“Yao Qian, Director of the Science and Technology Supervision Department and Director of the Information Center of the China Securities Regulatory Commission, is suspected of serious violations of discipline and law and is currently under investigation by the Central Committee.”

The report did not provide details of the investigation.

China’s probe against the SRC official comes a few weeks after Yao’s recent opinion piece in a local financial news outlet, The Block noted.

His article was titled “Warnings Mount Over Novel Bitcoin ETFs That Have Taken the US by Storm”. The publication went live on Chinese financial media outlet Caixin.

The ex-CBDC chief published a book covering multiple crypto topics, including the decentralised autonomous organisation (DAO), decentralised finance (DeFi), non-fungible tokens (NFTs) and X-to-earn.

The post China’s former CBDC chief is under government investigation appeared first on CoinJournal.

• China investigating Yao Qian, the former head of the Digital Yuan project.
• Local media reports say Yao is under probe for “violations of discipline and law.”

Yao Qian, a leading Chinese blockchain expert who previously spearheaded China’s Digital Yuan program, is reportedly under government investigation.

The Digital Yuan is a central bank digital currency (CBDC) project that sparked other countries towards similar efforts. 

Local media reports say China’s anti-graft agency is probing Yao for alleged “violations of discipline and law.”

Ex-Digital Yuan boss under probe

Yao led the Chinese central bank’s CBDC effort before exiting the PBOC in 2018 to join the Securities Regulatory Commission.

On Friday, state-run news agency Shanghai Securities News, reported:  

“Yao Qian, Director of the Science and Technology Supervision Department and Director of the Information Center of the China Securities Regulatory Commission, is suspected of serious violations of discipline and law and is currently under investigation by the Central Committee.”

The report did not provide details of the investigation.

China’s probe against the SRC official comes a few weeks after Yao’s recent opinion piece in a local financial news outlet, The Block noted.

His article was titled “Warnings Mount Over Novel Bitcoin ETFs That Have Taken the US by Storm”. The publication went live on Chinese financial media outlet Caixin.

The ex-CBDC chief published a book covering multiple crypto topics, including the decentralised autonomous organisation (DAO), decentralised finance (DeFi), non-fungible tokens (NFTs) and X-to-earn.

The post China’s former CBDC chief is under government investigation appeared first on CoinJournal.

• China investigating Yao Qian, the former head of the Digital Yuan project.
• Local media reports say Yao is under probe for “violations of discipline and law.”

Yao Qian, a leading Chinese blockchain expert who previously spearheaded China’s Digital Yuan program, is reportedly under government investigation.

The Digital Yuan is a central bank digital currency (CBDC) project that sparked other countries towards similar efforts. 

Local media reports say China’s anti-graft agency is probing Yao for alleged “violations of discipline and law.”

Ex-Digital Yuan boss under probe

Yao led the Chinese central bank’s CBDC effort before exiting the PBOC in 2018 to join the Securities Regulatory Commission.

On Friday, state-run news agency Shanghai Securities News, reported:  

“Yao Qian, Director of the Science and Technology Supervision Department and Director of the Information Center of the China Securities Regulatory Commission, is suspected of serious violations of discipline and law and is currently under investigation by the Central Committee.”

The report did not provide details of the investigation.

China’s probe against the SRC official comes a few weeks after Yao’s recent opinion piece in a local financial news outlet, The Block noted.

His article was titled “Warnings Mount Over Novel Bitcoin ETFs That Have Taken the US by Storm”. The publication went live on Chinese financial media outlet Caixin.

The ex-CBDC chief published a book covering multiple crypto topics, including the decentralised autonomous organisation (DAO), decentralised finance (DeFi), non-fungible tokens (NFTs) and X-to-earn.

The post China’s former CBDC chief is under government investigation appeared first on CoinJournal.

• China investigating Yao Qian, the former head of the Digital Yuan project.
• Local media reports say Yao is under probe for “violations of discipline and law.”

Yao Qian, a leading Chinese blockchain expert who previously spearheaded China’s Digital Yuan program, is reportedly under government investigation.

The Digital Yuan is a central bank digital currency (CBDC) project that sparked other countries towards similar efforts. 

Local media reports say China’s anti-graft agency is probing Yao for alleged “violations of discipline and law.”

Ex-Digital Yuan boss under probe

Yao led the Chinese central bank’s CBDC effort before exiting the PBOC in 2018 to join the Securities Regulatory Commission.

On Friday, state-run news agency Shanghai Securities News, reported:  

“Yao Qian, Director of the Science and Technology Supervision Department and Director of the Information Center of the China Securities Regulatory Commission, is suspected of serious violations of discipline and law and is currently under investigation by the Central Committee.”

The report did not provide details of the investigation.

China’s probe against the SRC official comes a few weeks after Yao’s recent opinion piece in a local financial news outlet, The Block noted.

His article was titled “Warnings Mount Over Novel Bitcoin ETFs That Have Taken the US by Storm”. The publication went live on Chinese financial media outlet Caixin.

The ex-CBDC chief published a book covering multiple crypto topics, including the decentralised autonomous organisation (DAO), decentralised finance (DeFi), non-fungible tokens (NFTs) and X-to-earn.

The post China’s former CBDC chief is under government investigation appeared first on CoinJournal.

• China investigating Yao Qian, the former head of the Digital Yuan project.
• Local media reports say Yao is under probe for “violations of discipline and law.”

Yao Qian, a leading Chinese blockchain expert who previously spearheaded China’s Digital Yuan program, is reportedly under government investigation.

The Digital Yuan is a central bank digital currency (CBDC) project that sparked other countries towards similar efforts. 

Local media reports say China’s anti-graft agency is probing Yao for alleged “violations of discipline and law.”

Ex-Digital Yuan boss under probe

Yao led the Chinese central bank’s CBDC effort before exiting the PBOC in 2018 to join the Securities Regulatory Commission.

On Friday, state-run news agency Shanghai Securities News, reported:  

“Yao Qian, Director of the Science and Technology Supervision Department and Director of the Information Center of the China Securities Regulatory Commission, is suspected of serious violations of discipline and law and is currently under investigation by the Central Committee.”

The report did not provide details of the investigation.

China’s probe against the SRC official comes a few weeks after Yao’s recent opinion piece in a local financial news outlet, The Block noted.

His article was titled “Warnings Mount Over Novel Bitcoin ETFs That Have Taken the US by Storm”. The publication went live on Chinese financial media outlet Caixin.

The ex-CBDC chief published a book covering multiple crypto topics, including the decentralised autonomous organisation (DAO), decentralised finance (DeFi), non-fungible tokens (NFTs) and X-to-earn.

The post China’s former CBDC chief is under government investigation appeared first on CoinJournal.