The owner of the crypto exchange Bitmart has filed a bid for pre-arbitration injunctive relief to prevent Chinese hackers from making illicit transfers using fraudulent Bitcoin SV (BSV) on its platform. According to a Monday report, GBM Global Holdings, Bitmart’s owner, filed its bid with a New York federal judge, despite the fraudulent activities taking place largely out of state. The company has argued that the Southern District Court of New York nonetheless has jurisdiction over "fraudulent or manipulative acts with foreseeable effects in New York'' and is therefore requesting that the judge intervene before the hackers are able to …

New York locals are accusing Greenidge Generation’s gas-fired Bitcoin mining plant of heating Seneca Lake in upstate New York. On a daily basis, the Greenidge plant is permitted to withdraw 139 million gallons of water from the lake and discharge 134 million gallons of water. The plant is also allowed to discharge water with a temperature of up to 108 degrees Fahrenheit (F) in the winter, and up to 86F in the summer. The residents of Dresden have expressed concern over the rising temperatures of the lake. The sustainability of trout species that populate the lake is a key concern …

Bitcoin mining company Greenidge Generation announced it would be starting operations in South Carolina as early as this year. In a Friday announcement, Greenidge said it would be operating in a carbon neutral crypto mining facility in the city of Spartanburg. The company said it had signed a letter of intent for a 10-year lease with printing firm LSC Communications’ location on the outskirts of the South Carolina city, where it plans to start mining crypto “in late 2021 or early 2022.” According to Greenidge, the location has been capable of drawing 80 megawatts (MW) of power, two thirds of …

New York billionaire Steven Cohen’s hedge fund Point72 Asset Management, is reportedly searching for a “head of crypto.” Cohen, the 65-year-old dubbed the “Hedge Fund King”, founded Point72 in 1992 and it has approximately $22.1 billion worth of assets under management. The investor also owns the New York Mets Major League Baseball team. The Street reported it has spoken to sources in the know who claim Point72 is seeking to hire a head of crypto, as the firm gears up to enter the crypto sector. If accurate it fits with other signals emerging from the fund. Cohen recently stated in …

New York Federal Reserve Bank President John Williams believes the emergence of cryptocurrencies poses a significant challenge to existing regulations, highlighting the ongoing discussions policymakers are having about blockchain technology and central bank digital currencies, or CBDCs. Before central banks like the Federal Reserve can issue their own CBDC, several major questions pertaining to blockchain technology and regulation need to be addressed, Williams told a panel hosted by the Bank for International Settlements. Specifically, Williams said policymakers need to outline how blockchain-based payment systems would function alongside physical cash. Williams is a member of this year’s Federal Open Market Committee, …

Within the same month, talk of the United States' budding capital of crypto has seemingly shifted its center from Miami to New York City. June opened with feverish excitement about the largest Bitcoin (BTC) event in history being hosted in Miami, and the city's mayor, Francis Suarez, has taken a series of steps to strengthen his bid to make Miami the top spot for crypto not just nationally but globally. Yet with U.S. pundits now focused on New York City's mayoral race, the current frontrunner for the Democratic nominee, Eric Adams, has — at least momentarily — stolen the limelight …

A New York judge has issued a temporary restraining order to block an alleged attempt from Roc-A-Fella Records Inc (RAF) co-founder Damon Dash to sell a tokenized version of Jay-Z's first album “Reasonable Doubt” along with its copyright. Dash however has claimed he was only trying to sell his stake in RAF. Rapper Jay-Z co-founded RAF with Damon Dash and Kareem Burke back in 1996. The record label has split ownership between the three, with the company owning the full copyright to the album in question. RAF asserted that Dash was attempting to auction off a tokenized version of the …

The United States’ largest cryptocurrency exchange, Coinbase, is setting up an office in New York. The Nasdaq-listed cryptocurrency exchange has subleased 30,000 square feet from Steven Cohen’s investment firm Point72 at Related Companies’ 55 Hudson Yards in New York, the New York Post reported on Sunday. A spokesperson for Coinbase confirmed the company's plans to establish an office in New York, stating, "We will be opening a second office in NYC to support flexible work schedules as we are a remote-first company." Citing sources from a real estate firm, the New York Post notes that Coinbase’s upcoming New York office …

A bill which would have required miners in New York to halt operations for three years as part of an apparent effort to slow the environmental impact of crypto has been defeated in the state legislature. New York Senate Bill 6486 failed to pass the state assembly today after lawmakers in the Democrat-controlled state senate approved the legislation earlier this week. The bill was aimed at establishing “a moratorium on the operation of cryptocurrency mining centers” while experts considered the environmental impact of mining, particularly those backed by fossil fuels. According to a Connecticut-based National Public Radio affiliate, the International …

A proposed crypto mining ban calling for a forced three-year hiatus on all mining operations in New York has been watered down — and will now allow green projects. The bill passed in the senate on June 8, and has now been referred to the state assembly. If the bill is passed in the assembly, it will be delivered to Governor Andrew Cuomo to either approve or veto the proposed legislation. The initial New York Senate Bill 6486A sought to halt all crypto mining for three years in order to conduct environmental impact reviews on mining operations in the tri-state …

Coinseed, a crypto platform that enabled micro-investing in cryptocurrency assets for its users, has shut down its operations. Delgerdalai Davaasambuu, founder and CEO of Coinseed, announced the decision via a statement published on the platform’s website. Detailing his decision to shutter the business, Davaasambuu wrote: “It is with an incredibly heavy heart, today I’m announcing that I am winding down the business due to a lawsuit from the NYAG (New York Attorney General).” As previously reported by Cointelegraph, the Office of the New York State Attorney General brought fraud charges against Coinseed back in February. At the time, the NYAG …

Just days before the anniversary of Bitcoin Pizza Day, Bitcoin proponent Anthony 'Pomp' Pompliano has launched a pizza company aimed at supporting small business and the Human Rights Foundation's Bitcoin Development Fund. In an announcement on Twitter today, Pomp said his Bitcoin Pizza brand would be launching in ten U.S. cities beginning on Saturday, May 22. The start date coincides with the 11th anniversary of the first successfully documented commercial transaction of cryptocurrency for two Papa John’s pizzas — an event now known as Bitcoin Pizza Day. However, while Laszlo Hanyecz’s purchase of those pies in 2010 cost him 10,000 …