The Kraken, Mad As Hell
Business

Crypto exchange Kraken cops $8m fine for unlawful credit with ‘margin extension’ that cost more than 1000 customers millions in losses

- December 12, 2024 2 MIN READ

The company running the Kraken crypto exchange in Australia has been handed an $8 million penalty by the Federal Court for unlawfully issuing a credit facility to more than 1100 customers. The fine follows legal action by the corporate regulator ASIC against Bit Trade Pty Ltd, launched in September last year, over its ‘margin extension’… Read more »

Craig Wrigh
Cryptocurrency

Craig Wright, the litigious Australian branded an ‘accomplished liar’ by a UK judge for claiming to be Bitcoin’s inventor, is suing Block

- November 6, 2024 2 MIN READ

Australian computer scientist and debunked Bitcoin ‘inventor’ Craig Wright has been accused of contempt of court after filing a $1.79 billion lawsuit against payments firm Block. Despite a storied early career in Australia’s IT industry, Wright is most known for his unwavering and controversial claim of having invented leading cryptocurrency Bitcoin under the pseudonym Satoshi Nakamoto. The… Read more »

bitcoin
Business

Ex-CEO of failed crypto exchange Mine Digital charged with fraud over $2.2 million in missing bitcoin

- October 22, 2024 2 MIN READ

The former CEO of the company behind defunct Queensland digital asset exchange Mine Digital has been charged with criminal fraud in the wake of an investigation by corporate regulator the Australian Securities and Investment Commission (ASIC). Grant Colthup, who was CEO of ACCE Australia Pty Ltd, appeared in Ipswich Magistrates Court on Monday charged with… Read more »

Caroline Ellison
Cryptocurrency

Caroline Ellison, who ran the FTX founder Sam Bankman-Fried’s trading firm, handed 2-year sentence over the crypto fraud

- October 1, 2024 3 MIN READ

 Caroline Ellison, the ex-girlfriend of crypto fraudster Sam Bankman-Fried who turned star witness against him, has been sentenced to two years in prison over her role in the $16 billion FTX cryptocurrency scam. Ellison was the CEO of Alameda Research, the trading branch of Bankman-Fried’s cryptocurrency exchange FTX. Alameda was found to have taken funds… Read more »

Business

Corporate regular ASIC wins its compliance fight with crypto exchange Kraken

- August 23, 2024 3 MIN READ

A margin trading product offered by cryptocurrency exchange Kraken failed to meet its legal obligations under Australia’s Corporations Act, a Federal Court judge has ruled. The judgment hands a rare win to corporate regulator the Australian Securities and Investment Commission (ASIC) amid an ongoing focus on regulatory compliance in the crypto sector. Justice John Nicholas… Read more »

bitcoin
Cryptocurrency

DigitalX is launching a Bitcoin ETF on the ASX

- July 9, 2024 < 1 MIN READ

Digital asset funds management firm DigitalX  has received Australian Securities Exchange (ASX) approval for the listing of its DigitalX Bitcoin ETF. The company (ASX:DCC) will now offer one of the first listed spot Bitcoin ETFs, providing direct exposure to digital assets on the exchange. CEO Lisa Wade said the DigitalX Bitcoin ETF (ASX:BTXX) will provide… Read more »

Amy-Rose Goodey
Cryptocurrency

Blockchain Australia rebrands as Digital Economy Council of Australia amid refocus

- June 13, 2024 2 MIN READ

A decade and three bitcoin halvings later, industry association Blockchain Australia has rebranded to the Digital Economy Council of Australia (DECA). ​The change comes amid a restructure of DECA, with CEO Simon Callaghan departing and former chief operating officer Amy-Rose Goodey taking the lead as managing director. Speaking at the annual Blockchain Week gathering in… Read more »

Bitcoin
Cryptocurrency

Bitcoin BS: UK judge says Craig Wright, the Australian who claims to be the cryptocurrency’s inventor lied ‘extensively and repeatedly’

- May 23, 2024 3 MIN READ

A UK judge has ruled Australian businessman Craig Wright forged documents and lied repeatedly to support his long-running claim of being Satoshi Nakamoto, the inventor of Bitcoin. Wright has notoriously professed the pseudonymous title under a years-long claim of having created leading cryptocurrency Bitcoin – fuelling tenuous conflicts among the crypto community as he launched lawsuit after… Read more »

Cryptocurrency

Finder just had a big win against the corporate cop, ASIC, over its crypto wallet

- March 14, 2024 2 MIN READ

Finder’s crypto product, Earn, complied with the financial law, the Federal Court has found, dismissing legal action launched by the corporate regular against the fintech. It was a comprehensive win against the Australian Securities and Investments Commission (ASIC) for Finder, with Justice Brigitte Markovic also awarding costs against the regulator. ASIC sued Finder Wallet for… Read more »

Cryptocurrency

The story behind the day bitcoin made pizza the most expensive meal in the world

- May 20, 2022 2 MIN READ

Well before bitcoin’s coronation as an alternative asset class or getting the attention of institutional and celebrity investors, it lived in swamps and deserts. It was only an experiment between cypherpunks & cryptographers without any market value or any real world applications. On May 18, 2010 – after 14 months from Bitcoin genesis block –… Read more »

dogecoin, cryptocurrency
Cryptocurrency

ETFs for Bitcoin and Ethereum are hitting the Australian market after Anzac Day

- April 21, 2022 2 MIN READ

Exchange-traded funds provider ETF Securities is launching two funds in an Australian first, allowing people to invest in Bitcoin and Ethereum. The ETFS 21Shares Bitcoin ETF (Code: EBTC), and ETFS 21Shares Ethereum ETF (Code: EETH) will list on Cboe Australia (formerly Chi-X) next week. They will both track the price of the respective cryptocurrency in Australian… Read more »