FTX has reached a $228 million settlement with crypto exchange Bybit and its affiliates, concluding a lawsuit filed in Nov. 2023 that sought to recover approximately $1 billion in assets. The agreement allows FTX to withdraw $175 million in digital assets held on Bybit’s platform and sell about $53 million in BIT tokens to Mirana The post FTX reaches $228 million settlement with Bybit amid bankruptcy efforts appeared first on CryptoSlate.

Bitmain has issued a statement distancing itself from recent media reports linking the company to a supply chain investigation involving Huawei. The Bitcoin mining equipment manufacturer emphasized that it is not engaged in such investigations and reserves the right to take legal action against outlets disseminating false information. The statement read, “BITMAIN specializes in designing The post Bitmain denies connection to US supply chain investigation linked to Huawei chips appeared first on CryptoSlate.

The Satoshi Action Fund is advancing efforts to secure state-level protections for Bitcoin self-custody, employing strategies similar to those used by the cannabis industry to navigate federal regulations. This initiative aims to create “safe haven” states for Bitcoin users, providing legal assurances for holding and using the digital asset. Dennis Porter, CEO and co-founder of The post Satoshi Action Fund seeks to replicate cannabis industry with ‘safe haven’ states for Bitcoin custody appeared first on CryptoSlate.

Denmark is proposing a new taxation model that would tax unrealized gains on cryptocurrencies at 42%, aligning digital assets with existing rules for certain financial contracts. This approach involves calculating gains and losses annually based on the change in the value of the taxpayer’s holdings, regardless of whether the assets have been sold. The taxable The post Denmark proposes taxing unrealized crypto gains as it does with some traditional financial contracts appeared first on CryptoSlate.

Singaporean national Malone Lam has appeared in court in the United States after being charged for allegedly stealing over 4,100 BTC, currently valued at approximately $274 million, from a private investor in Washington, according to local media. Lam, 20, and his co-conspirator, Jeandiel Serrano, 21, are accused of executing a sophisticated social engineering scheme that The post Scammer who stole 4,100 Bitcoin appears in US court charged with wire fraud appeared first on CryptoSlate.