A recent report by CNBC provides new insights into the story of Jimmy Zhong. He made headlines last year when he was arrested for stealing over 50,000 bitcoin from the Silk Road marketplace.

How Jimmy Zhong Got the Police Involved

The story began in March 2019 when Jimmy Zhong called the police in Athens, Georgia, to report that someone had stolen hundreds of thousands of dollars worth of cryptocurrency from his home. This phone call triggered an investigation into the theft. Initially, the police, who were used to college town-type crimes like break-ins, bar fights, and assorted rowdiness, couldn’t suspect Zhong’s crime. According to the report:

“The 911 call…

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The cryptocurrency world has been abuzz with anticipation. The potential approval of Bitcoin Spot ETFs could trigger a cascade of demand for cryptocurrencies, particularly Bitcoin (BTC) and Bitcoin Spark (BTCS).

The Bitcoin ETF Phenomenon

Bitcoin ETFs, or Exchange-Traded Funds, have become a hot topic in the crypto space. They offer a regulated pathway for investors to gain exposure to Bitcoin and other cryptocurrencies. The primary appeal of a Bitcoin ETF is its ability to democratize investment in the crypto sector.

A Bitcoin ETF could unlock an estimated $600 billion in new demand, based on a report by Bernstein analysts. This figure more than doubles the current market cap of Bitcoin,…

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The Financial Crimes Enforcement Network (FinCEN), a unit of the U.S. Treasury Department, has proposed a new rule aimed at increasing transparency around cryptocurrency “mixers,” calling them a “national security risk.” This move is part of an effort to combat their use by groups such as Hamas.

As reported by Reuters, if the rule is finalized, financial firms will be required to report information about transactions that they suspect involve crypto mixers which are software tools that enable users to hide the source or owner of digital assets.

The proposal by FinCEN highlights the growing concerns among U.S. officials about the use of crypto for financing groups deemed…

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The final phase of jury instructions for Sam Bankman-Fried‘s federal criminal case is in the hands of Judge Lewis Kaplan. The judicial decision is awaited on the proposed instructions presented by the U.S. Department of Justice (DOJ) and Bankman-Fried’s defense team.

As reported by CoinDesk, these instructions will guide the jury on laws concerning seven charges faced by the defendant.

Both proposals bear similarities, including requests for the judge to address the indictment and elaborate the charges. The defense team and prosecutors have included specific instructions reflecting their unique concerns about the case.

See Also: Bitcoin, Ethereum, Dogecoin Spike As False BlackRock…

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Bitcoin BTC/USD experienced a significant surge on Thursday evening, reaching a price of $29,000. 

What Happened: This surge came shortly after Federal Reserve Chair Jerome Powell acknowledged the persistence of elevated inflation levels and expressed the need for lower economic growth to address the issue.

Powell stated, “Incoming data over recent months show ongoing progress toward both of our dual mandate goals — maximum employment and stable prices.” However, he also emphasized that “inflation still remains too high.”

On the liquidation side, out of the total $25 million in liquidations that occurred in the last 24 hours, over $20 million worth of BTC shorts was liquidated,…

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After parting ways with Ben Armstrong, Bitboy Crypto brand has relaunched as Discover Crypto. 

What Happened: The decision to rebrand follows the legal suit between HIT Network and Armstrong, popularly known as Bitboy Crypto. 

TJ Shedd, CEO of Discover Crypto wrote to Benzinga in an emailed interview, “We recently parted ways with Ben and believe that hitting the reset button on the brand is what’s best for the channel and our community. Going forward, we’re confident that we can build even broader recognition by taking a more mature, nuanced approach to producing content about the Bitcoin and crypto sector.”

Under the Discover Crypto banner, the channel will continue its twice-daily live…

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A cryptocurrency analyst on Thursday made a bold prediction regarding Dogecoin DOGE/USD, suggesting that it could experience an extraordinary surge of over 27,000% and potentially reach $16, breaking its all-time highs.

What Happened: The analyst, who goes by the username AMINSHEYBANI, shared a chart on TradingView along with the caption “Doge to the moon.” According to the chart, DOGE’s price could potentially find support at $0.058. 

Once it surpasses this level, the analyst believes that there is potential for a remarkable rally of 27,500%, with the price of DOGE soaring to as high as $16 at its peak. 

The total supply of DOGE is 141.48 billion and it reaches a value of $16, its…

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American venture capitalist Tim Draper alerted crypto users to the rise of scammers employing artificial intelligence (AI) voice generators. 

What Happened: Draper, with a following of approximately 254,000 on X, formerly Twitter, advised his followers to remain vigilant against “thieves” utilizing AI to mimic his voice. He pointed out that “AI is getting smarter,” with instances of followers reporting attempts by fraudsters impersonating him in order to persuade individuals to send cryptocurrency.

Advancements in AI technology have made it increasingly accessible for ordinary individuals to mimic celebrities’ voices or manipulate videos of politicians, thereby enabling them to…

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Major cryptocurrencies were trading mixed on Thursday as Wall Street analyzed remarks from Federal Reserve Chair Jerome Powell.

CryptocurrencyGains +/-Price (Recorded 9:30 p.m. EDT)Bitcoin BTC/USD+0.76%$28,614Ethereum ETH/USD-0.13%$1,563Dogecoin DOGE/USD+0.11%$0.058

What Happened: Powell acknowledged that inflation remains at elevated levels and indicated a need for lower economic growth to address this issue.

“Incoming data over recent months show ongoing progress toward both of our dual mandate goals —maximum employment and stable prices,” Powell said.

Nevertheless, he noted, “Inflation is still too high.” He pointed out that while positive data in the past few months is promising,…

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