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Grayscale bitcoin trust investments will sell ETHWtokens at the first opportunity



grayscale invest bot

Grayscale bitcoin trust investments plans to sell the ETHPoW (ETHW) tokens it has received, the company has notified the Securities and Exchange Commission (SEC).

According to the press release, Grayscale bitcoin trust investments, the largest digital asset manager, plans to distribute rights to ETHPoW (ETHW) tokens received after Ethereum switched to the Proof-of-Stake consensus algorithm. The rights registration date is September 26.

On the rights registration date, Grayscale will assume the role of agent with respect to its units entitled to ETHW tokens. The rights to those tokens will be transferred to Grayscale Investments.

According to the company, the Ethereum Trust claims more than 3 million ETHW tokens and Digital Large Cap Fund claims 40.6 million ETHW tokens. Grayscale Investments will get the tokens in its possession and then sell them for a period not exceeding 180 days. The company added that it will have the right to decide whether to sell the tokens or keep them.

If ETHW is sold, the profits will be distributed to the shareholders of the Trust and the Fund, less commissions and other costs associated with the sale. The new tokens will be obtained through the airdrop of the new network that emerged after the Ethereum fork. The community initially showed interest in it, but the new branch got off to a weak start and the chances of ETHPoW tokens quickly declining.

ETHW token down 84%

At the time of writing, the ETHW token is trading at $7.47, down 84.8% from its listing price of $58.54 on September 3. In the past 24 hours, the token has fallen by more than 16%. It’s still unclear how much profit Grayscale will make from the sale of the assets. But what’s happening will definitely hurt the Grayscale invest bot. 

ETHW is a promissory note, and those who eventually switch to a hardfork will have the value of ETH reflected in the new tokens. It’s just not clear which PoW-based ETH will win.

Previously, we reported that Ethereum has successfully transitioned to PoS.


China has uncovered a money laundering scheme involving the digital yuan. How does money laundering work? 



how does money laundering work

Chinese authorities have uncovered a 200 million yuan (~$28 million) money-laundering scheme where criminals used the digital yuan. Local newspaper Renmin Jibao writes about it. How does money laundering work?

It is reported that the criminals were detained in Fujian province. According to law enforcement authorities, the criminal group, led by Lai Moumou and Zheng Moumou, provided illegal services for the settlement of money to support gambling businesses. It is also noted that the group formed entire cells throughout China and worked on money laundering.

This is the second reported case of the digital yuan appearing in illegal activities. Earlier, the editorial board wrote that the People’s Bank of China decided to amend the digital yuan model after authorities uncovered an eleven-person criminal cell that used the digital state currency to launder money.

According to local media reports, the scammers used phishing to obtain the digital state currency, which they later ran through banks and payment systems. The amount of the fraud was not disclosed. However, it remains unclear whether the incident was the reason for the digital currency changes.

Work on the Central Bank Digital Currency (CBDC) or DCEP, as representatives of the financial regulator themselves call the project, has been underway since 2014. In this case, the head of the Chinese Central Bank Yi Gang, noted that the financial institution has no clear timetable for the launch of the digital yuan. The banker drew attention to the fact that information about the pilot release of the digital asset and related initiatives should not be equated with the official release of the virtual yuan.

We previously reported that the creator of Fortnite has invested in a metaverse company.

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FBI tracked Colonial Pipeline hackers through Chainalysis



Colonial Pipeline hackers apologize

Recently, Colonial Pipeline has been hacked again. But the Federal Bureau of Investigation (FBI) could identify Colonial Pipeline hackers through analytics firm Chainalysis. It is reported by Bloomberg, citing representatives of the firm.

It is not clear how exactly the FBI could identify the attackers. It is alleged that Chainalysis collects a large amount of data from the blockchain and also relies on off-network information received from customers. The analytics firm uses machine learning and statistical analysis to figure out where and to whom cryptocurrency might be sent.

In May 2021, a group of hackers called DarkSide hacked and shut down the Colonial Pipeline, one of the largest oil pipelines in the United States, causing a fuel shortage on the East Coast. As a ransom, the hackers demanded that 75 BTC be transferred to an anonymous wallet. Colonial Pipeline hackers then apologized.

Earlier in September, analysts at Group-IB found that the number of cryptocurrency-related fraud sites rose to 2,000 in the first half of 2022, a 335% increase over the entire 2021. At the same time, just over 60% of all fraudulent crypto-sites are registered through Russian providers.

Earlier we reported that Cardano Vasil should be fully completed to activate all features.

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Is Kraken a good crypto exchange? Kraken has no plans to change its listing due to SEC complaints



cryptocurrency exchange kraken ceo

Cryptocurrency exchange Kraken is not going to remove from its listing tokens that the U.S. Securities and Exchange Commission (SEC) compares to securities. Cryptocurrency exchange Kraken CEO Dave Ripley told Reuters.

Is Kraken a good crypto exchange?

Recall, earlier media revealed that the U.S. exchange regulator has organized an investigation into the actions of cryptocurrency exchange Coinbase to list tokens. The reason for launching the investigation was the SEC’s suspicions that Coinbase opened American users’ access to transactions with cryptocurrencies, which can be classified as securities.

However, despite the investigation, the exchange regulator did not sue Coinbase, which has already surprised Ripple, which has long been in litigation with the SEC over the altcoin XRP.

The SEC sued Ripple back in late 2020. The regulator argues that XRP falls under the definition of securities, but the California-based startup disagrees. While the verdict on the lawsuit between the SEC and Ripple probably won’t appear until late 2022, Coinbase was one of the first cryptocurrency exchanges to remove XRP from its listing.

We previously reported on researchers finding vulnerabilities in cryptocurrency exchanges.

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