The U.S. Securities and Exchange Commission has charged Danh C. Vo, founder and CEO of bitcoin mining company VBit Technologies Corp., with defrauding investors out of $48.5 million. 

According to the SEC, Vo misused the funds for gambling, cryptocurrency purchases, and gifts to family members, while misleading investors about the operations of his business.

The complaint, filed in the U.S. District Court for the District of Delaware, alleges Vo raised over $95.6 million from approximately 6,400 investors between December 2018 and February 2022. 

He sold “hosting agreements,” which promised investors a share of profits from bitcoin mining rigs operated by VBit. Most…

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The bitcoin price dropped sharply today after a brief pump near $90,000, sliding to $84,544 as the price sell-off continued into its second month. 

Bitcoin lost 2% over the past 24 hours. It remains 5% below its seven-day high of $89,220 and hovers near the week’s low of $84,596. Trading volume reached $56 billion. Bitcoin’s market capitalization stands at $1.69 trillion. The circulating supply is roughly 19.96 million BTC out of a total 21 million, according to Bitcoin Magazine Pro data. 

The drop follows a brief rally that earlier saw the Bitcoin price test $89,000. The surge came after the U.S. released new Consumer Price Index data. Inflation rose 2.7% year over year…

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Fold Holdings, Inc. ($FLD), a publicly traded Bitcoin financial services company, just announced that its platform is now available in all 50 U.S. states.

The expansion follows a strategic partnership with BitGo Bank & Trust, which recently became one of the first digital asset companies to secure a federal bank charter from the Office of the Comptroller of the Currency (OCC).

The move marks a rare milestone in U.S. consumer Bitcoin services: Fold is the first platform to operate nationwide under a single federally supervised trust framework. 

Previously, state-by-state licensing and regulatory barriers constrained consumer access, particularly in states like New York. With…

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Intercontinental Exchange Inc. (ICE), the operator of the New York Stock Exchange, is in discussions to invest in crypto payments company MoonPay, people familiar with the matter said, per Bloomberg. 

The potential funding round could value MoonPay at roughly $5 billion, up from its previous $3.4 billion valuation, according to the sources, who requested anonymity due to the private nature of the talks.

MoonPay, based in New York, provides infrastructure for users to buy and sell cryptocurrencies. The company recently secured a Limited Purpose Trust Charter from the New York Department of Financial Services, a move that complements its existing BitLicense and allows it to expand…

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KindlyMD Inc., the healthcare firm operating a Bitcoin treasury through its subsidiary Nakamoto Holdings, said Wednesday its board has authorized a share repurchase program, giving management discretion to buy back stock as shares trade below the value of the company’s bitcoin holdings.

The Nasdaq-listed company said it may repurchase shares through open-market purchases, privately negotiated transactions, block trades, or other legally permissible methods.

Buybacks may also be executed under Rule 10b5-1 trading plans and will comply with Rule 10b-18 of the Securities Exchange Act.

“This share repurchase program reflects our confidence in the long-term value of the…

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Taiwan’s Ministry of Justice has disclosed that the government holds more than 210 bitcoin seized through criminal investigations, placing the island among the world’s top government holders of the asset by volume.

The disclosure, confirmed by legislator Ko Ju-chun, shows that judicial authorities held 210.45 BTC as of Oct. 31. At current market prices, their BTC is worth about $18 million. According to data from Bitcoin Treasuries, this would put Taiwan as the 10th-largest government holder of BTC globally.

Ko said the information was released in response to a legislative inquiry and shared an image documenting the total amount held under state custody. The ministry said…

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Bitcoin briefly surged above $89,000 on Thursday as a sharply cooler-than-expected U.S. inflation report came in.

At the time of writing, the bitcoin price was trading near $88,374, down roughly 2% over the past 24 hours, according to market data. The pullback leaves BTC about 2% below its recent seven-day high of $90,165 and roughly 4% above its week’s low near $85,374. Bitcoin’s market capitalization stands at approximately $1.77 trillion, with 19.96 million BTC currently in circulation.

The initial rally was sparked by fresh Consumer Price Index (CPI) data from the U.S. Bureau of Labor Statistics, which showed inflation cooling faster than economists expected. Headline…

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Ledn, one of the world’s largest bitcoin lenders, announced its Open Book Report, a reserves transparency benchmark designed to expose the kind of risk that caused the 2022 FTX-driven crypto crash. 

According to a press release shared with Bitcoin Magazine, “Traditional lenders (including Citi, JPMorgan, Wells Fargo, BNY Mellon, Schwab, and Bank of America) are reportedly entering the space amid a regulatory vacuum in terms of rehypothecation practices and proof of reserves.” With the passing of the GENIUS Act, which greenlit treasury-backed stablecoins, Wall Street now has a road to service the crypto market and even upgrade its own rails and infrastructure. 

But there are…

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