Loonies

@loonies

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The Bloomberg introduces Igor Runets, a 38-year-old Russian cryptocurrency mining tycoon worth $230 million. He received MBA from Stanford in 2017 and then built a mining farm in Siberia. His Stanford classmates were first customers. BitRiver has grown to have 15 data centers with a capacity of 533 megawatts. However, BitRiver was sanctioned by the United States in 2022. The reason is that the company can help Russia monetize its natural resources.

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Telegram Wallet will suspend the in-app wallet function for UK residents until it registers with the UK Financial Conduct Authority as a crypto asset provider and obtains relevant licenses. Users can transfer funds to external wallets for free during this period.

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The US SEC announced a settlement with TrustToken and TrueCoin, the latter of which was suspected of defrauding TUSD investors. The SEC stated: “As alleged, by September 2024, 99% of the reserves backing TUSD were invested in the speculative fund” and the defendants “offered and sold TUSD together with profit-making opportunities”. TUSD is suspected to be a stablecoin controlled by Justin Sun team.

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