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Showing posts with the label assets

Craig Wright’s assets frozen because judge doesn’t know where he is

On July 4, the UK High Court of Justice issued a worldwide freezing order worth $1.9 million against Craig Wright in favor of podcaster Peter McCormack. McCormack won his defamation lawsuit with Wright on January 25 and has been trying to recover his substantial legal fees from the Australian businessman. The lawsuit began in April 2019 when McCormack tweeted about Wright, the falsely self-proclaimed inventor of Bitcoin . “ Craig Wright is not Satoshi,” McCormack wrote. He continued, “ Craig Wright is a fraud… he is a liar and a fraud… and he’s a moron; he is not Satoshi.” Wright sued him, but McCormack ultimately prevailed. According to the world’s most powerful copyright court, Wright did lie about writing Bitcoin’s whitepaper and fraudulently submitted doctored evidence to support his false claim. Craig Wright loses Peter McCormack case ahead of COPA decision Read more: Court to sentence Craig Wright for lying about being Satoshi An extraordinary remedy for ext...
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Tether teases new assets as old ones are forgotten

Tether chief exec Paolo Ardoino has taken to X (formerly Twitter) to tease that Tether is prepared to “unveil its new class of digital assets” next week.  It’s not clear exactly what digital asset s will be announced next week, but we do know that they will be the latest in a long line of digital asset s launched by the stablecoin giant, many of which have now been largely forgotten . The most popular asset Tether has created is, of course, USDT, which is ‘tethered’ to the value of the US dollar. However, it also has assets tied to other currencies like the Euro, Offshore Yuan, and the Mexican Peso.  Perhaps the most interesting of these asset s is the Offshore Yuan Tether , which was launched in collaboration with Zhao Dong. Dong was once one of the most prominent over-the-counter traders in China and had previously disclosed that he was a Tether shareholder . After the announcement of this product, he was arrested and eventually convicted of charges...
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Bitcoin and Ethereum outperform traditional assets in 2023

A new report from on-chain analytics firm Glassnode highlights the strong performance of Bitcoin (BTC) and Ethereum (ETH) compared to traditional markets in 2023. According to a Nov. 1 Glassnode report, Bitcoin has appreciated 93% against gold so far this year. When priced in gold, Bitcoin is trading at the highest levels since September 2021, right before the major crypto market correction. The data illustrates Bitcoin’s potential as a hedge against inflation and economic uncertainty. Ethereum has also significantly outperformed gold in 2023, appreciating 39% against the precious metal. Glassnode notes that in 2023 ETH and BTC returns have been tightly correlated on a 30-day rolling basis, experiencing similar magnitude drawdowns but with Bitcoin seeing stronger performance during uptrends. You might also like: MicroStrategy buys $5.3m in Bitcoin, bringing total holdings to over 150,000 BTC Notably, both Bitcoin and Ethereum have also experienced relatively shallow ...
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