14 May 2025, 14:12

U.S.-Registered Xinbi Guarantee Linked to $8.4 Billion in Illegal Activity

The post U.S.-Registered Xinbi Guarantee Linked to $8.4 Billion in Illegal Activity appeared first on Coinpedia Fintech News A company registered in Colorado, USA, has been secretly running one of the world’s biggest illegal crypto networks. Called Xinbi Guarantee, this company has helped criminals move $8.4 billion worth of crypto since 2022, right under the nose of U.S. authorities. From money laundering and scams to sex trafficking and fake ID sales, Xinbi’s dark business shows how dangerous and fast-growing the crypto crime world has become. Xinbi Guarantee’s Criminal Empire Built on Telegram Xinbi Guarantee mainly works through Telegram, where it runs a major black-market service. Though it claims to serve Chinese-speaking clients, but it proudly claims to be registered in Colorado, showing its U.S. legal status on its website. According to a report by blockchain firm Elliptic , Xinbi uses Tether (USDT) for most transactions. In just the last three months of 2024, more than $1 billion flowed through the platform. Xinbi also helped North Korean hackers launder stolen money from the $235 million hack of the Indian crypto exchange WazirX. Just days after the attack, its wallets received around $220,000 in USDT. From Fake IDs to Human Trafficking The number of Xinbi users has doubled in just a few months, jumping from 119,000 in August 2024 to 233,000 now. But it’s not just the numbers that are concerning—it’s the nature of what the platform offers. This isn’t just about stolen crypto. Vendors are also selling fake IDs, stolen personal data, and fraudulent documents. Even worse, the platform reportedly facilitates sex trafficking, harassment-for-hire, and access to egg donors and surrogates, blurring the line between digital crime and human exploitation. U.S. Registration, But No Real Oversight Despite all this, Xinbi Guarantee was officially registered in Aurora, Colorado, in 2022. However, the firm’s status turned “Criminal” in early 2025 for failing to file required reports. This raises serious questions about how such platforms exploit U.S. corporate systems to operate globally without scrutiny. Telegram Takes Quick Action After Elliptic’s report, Telegram shut down many Xinbi-related channels, including some linked to another illegal platform, Huione Guarantee. This is a good step, but experts say much more needs to be done.

14 May 2025, 14:02

Behind Closed Doors Gensler Was Not Anti Crypto: McHenry

Former US Representative Patrock McHenry suggested that Gensler's public hostility was politically motivated. Meanwhile, Senators Cynthia Lummis and Bernie Moreno are pushing the Treasury Department to revise corporate crypto tax rules, and warned that taxing unrealized gains on digital assets harms US competitiveness. Also in the US, Sam Altman’s Worldcoin project is facing more backlash over privacy concerns as it rolls out iris-scanning verification hubs in the country. The patchwork of state biometric laws is also making things more difficult for the project to gain traction. Gensler Accused of Playing Politics on Crypto Former US Securities and Exchange Commission (SEC) Chair Gary Gensler may have had a much more favorable view of crypto in private than his public actions suggested. This is according to former US Representative Patrick McHenry. On the Crypto in America podcast on May 13, McHenry recounted some of his private interactions with Gensler, and revealed that the former SEC chair expressed a nuanced understanding of digital assets behind closed doors. “Did he come across, or was he as anti-crypto in private as he was in public?” McHenry was asked. “No… Nope,” he responded, adding that Gensler “saw the value of digital assets” and acknowledged the promise of blockchain technology, particularly during his academic tenure at the Massachusetts Institute of Technology. Former US Representative Patrick McHenry Gerald Gallagher, general counsel at Sei Labs, supported this view by pointing out Gensler’s lesser-known academic contributions, including his involvement in shaping the concept of the airdrop. Despite these insights, McHenry said he was dismayed by the shift in Gensler’s posture once he assumed leadership at the SEC in 2021. During his tenure, Gensler spearheaded more than 100 enforcement actions against crypto companies, which is a strategy that drew widespread criticism from industry leaders and politicians. McHenry described discussions with Gensler as perplexing, and said that while conversations would begin constructively, they would often descend into contradictions. He suggested Gensler’s hardline public stance may have been driven more by Senate confirmation dynamics than personal conviction. Gensler officially left the SEC on Jan. 20, 2025, after which he returned to MIT to teach courses on fintech and AI. Unfortunately, his time at the SEC left a trail of industry resentment. In late 2024, Coinbase CEO Brian Armstrong announced the company would cut ties with law firms employing former SEC officials who participated in what he described as a campaign to “unlawfully kill” the crypto industry. Similarly, in early 2025, Gemini declared that it would no longer hire MIT graduates unless the institution severed ties with Gensler. Senators Push Treasury for Crypto Tax Relief While Gensler’s actual stance on crypto is still unclear, other lawmakers are making their voices heard. Two US senators urged the Treasury Department to revise how corporate taxes apply to digital assets. They believe this move is necessary to preserve America's competitive edge in the digital finance space. In a letter dated May 12, Senators Cynthia Lummis and Bernie Moreno called on Treasury Secretary Scott Bessent to amend the definition of “adjusted financial statement income” under current law. Their proposal seeks to ease the tax burden that is imposed by the Inflation Reduction Act, which levies a 15% minimum tax on corporations earning over $1 billion in profits for three consecutive years. Under the current framework, companies could be taxed on unrealized gains from crypto holdings, which is a prospect that Lummis and Moreno argue puts US firms at a disadvantage compared to their international peers. Lummis is a longtime advocate for digital asset innovation, and she placed a lot of emphasis on the importance of quick action in a May 13 social media post. She warned that failure to adapt could threaten the nation’s leadership in digital finance. (Source: Follow the Crypto) Moreno is a freshman senator whose campaign was supported by crypto-aligned political action committees, and had similar concerns in the letter. Both senators argued that modifying the tax code could provide much-needed relief to corporations investing in digital assets. This initiative comes amid wider legislative efforts related to crypto, including renewed attempts to pass the GENIUS Act — which is a bill that is aimed at creating a regulatory framework for payment stablecoins. A May 8 motion to consider the bill in the Senate stalled after Democrats objected to former President Donald Trump's connections to the crypto industry. Despite the setback, Lummis indicated that she will continue to support advancing digital asset regulation and suggested the Senate could revisit the stablecoin bill vote. Worldcoin Raises Alarms in US Privacy Debate Meanwhile, regulators are more uncertain about World Network, the digital identity and crypto project launched by Sam Altman’s OpenAI. It is facing mounting global criticism and regulatory scrutiny as it prepares for its launch in the United States. Formerly known as Worldcoin, the initiative uses iris-scanning technology to create a unique digital identity for users, which the company claims will help distinguish humans from AI in an increasingly automated world. However, privacy advocates argue that the project poses a serious threat to personal freedom and security, and warned that biometric data collected could be used for profiling, surveillance, and discrimination. Despite its promise of privacy protection, World has already been banned in countries like Spain, Brazil, and Hong Kong, while authorities in India, South Korea, Kenya , Germany, and others have launched investigations or ordered the deletion of user data. Critics claim the project offers insufficient transparency, targets vulnerable populations, and fails to offer clear consent withdrawal mechanisms. Additionally, Privacy International and Amnesty International both warned that without strict legal frameworks and oversight, biometric data collection initiatives like World risk enabling mass surveillance and eugenics-based profiling. World now plans to expand into the US and establish verification hubs in Atlanta, Austin, Los Angeles, Miami, Nashville, and San Francisco, where users can scan their irises to obtain digital IDs. Yet the project faces a very complex patchwork of biometric privacy laws that vary a lot between states. World’s orbs Only California and Texas currently have state-level protections for biometric data, and enforcement in Texas is limited to the attorney general’s discretion. Legal experts warn that users in states without these kinds of protections are particularly vulnerable, as there is no federal law specifically governing the collection of biometric data like iris scans. Cyberlaw attorney Andrew Rossow explained that user protections depend heavily on the willingness and capacity of local authorities to act, which may vary widely. While Ethereum community figures like Tomasz Stańczak and Paul Dylan-Ennis have voiced cautious optimism about World’s privacy protocols, others are still deeply skeptical.

14 May 2025, 14:02

Ripple CEO: XRP Moves Value In Seconds

In a video clip recently shared by Rowen Exchange on X, Ripple CEO Brad Garlinghouse emphasized the revolutionary capabilities of XRP in facilitating fast and efficient cross-border transactions. According to Garlinghouse, XRP’s primary advantage lies in its ability to move value in seconds, a feat that distinguishes it from other digital assets like Bitcoin. This speed and scalability offer a practical solution to a real-world problem, positioning XRP as a superior option for financial institutions. XRP: Real-Time Value Transfer Garlinghouse highlighted that while XRP, like Bitcoin, is a digital asset, its utility goes far beyond mere speculative trading. Unlike Bitcoin, which can take up to 12 minutes to complete a transaction, XRP achieves this in just three seconds. This remarkable speed is crucial in the financial sector, where efficiency and real-time value transfer are paramount. Brad Garlinghouse: "XRP moves value in seconds" pic.twitter.com/1eojAoATuY — Rowen Exchange (@RowenExchange) May 14, 2025 What sets XRP apart is its focus on liquidity management for banks. Instead of prefunding accounts—a costly and cumbersome process—banks can simply access XRP liquidity denominated in USD, pounds, or other major currencies. This system allows for real-time movement of value, reducing the need for pre-funded accounts and streamlining international transactions. Bridging the Gap Between Banks Ripple’s primary goal is to facilitate transactions between banks, providing an alternative to the traditional, slower methods that dominate the industry. XRP’s unique approach enables banks to eliminate the need for holding reserves in multiple countries, thereby freeing up capital and increasing operational efficiency. This process not only reduces transaction times but also cuts costs significantly, offering a superior product at a more competitive price. Garlinghouse’s remarks underscore a critical difference between XRP and other digital assets. While Bitcoin’s longer transaction times make it less practical for real-time financial operations, XRP’s instantaneous processing makes it highly scalable and suited for institutional use. The result is a consumer experience marked by faster and cheaper transactions—an outcome that resonates well with the needs of modern banking. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Real Use-Case: Solving Real Problems Unlike many cryptocurrencies that struggle to find real-world applications, XRP has carved out a practical niche in cross-border payments . Ripple’s technology addresses long-standing pain points within the financial sector, such as delayed settlements and high fees. By enabling instantaneous transactions, XRP directly solves a tangible problem, making it an attractive option for banks and financial institutions worldwide. This focus on real-world application distinguishes XRP from other digital assets that primarily serve as investment vehicles. Ripple’s commitment to solving practical problems has positioned XRP not only as a cryptocurrency but as a financial tool capable of transforming the traditional banking model. The Future of Real-Time Payments As financial institutions continue to explore blockchain solutions, Ripple’s emphasis on speed, efficiency, and cost-effectiveness positions XRP as a leading contender for cross-border payment solutions. Garlinghouse’s vision reflects a broader industry trend towards faster and more transparent transactions. With banks increasingly recognizing the value of on-demand liquidity, XRP’s adoption is poised to grow. In conclusion, XRP’s ability to move value in seconds highlights its practical utility and sets it apart from slower alternatives like Bitcoin. As Ripple continues to build partnerships and expand its network, the demand for such fast and scalable solutions is likely to increase. XRP not only exemplifies technological innovation but also addresses a fundamental need in global finance—real-time, low-cost transactions. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Ripple CEO: XRP Moves Value In Seconds appeared first on Times Tabloid .

14 May 2025, 14:00

Nexon’s Nexpace Token NXPC Secures Binance Alpha Listing Ahead of Web3 Launch

Nexpace’s NXPC Token to Go Live on Binance Alpha South Korean gaming behemoth Nexon’s blockchain arm, Nexspace, is in the limelight with the impending listing of its homegrown token NXPC on Binance Alpha. The listing is scheduled for May 15, 2025, at 6:00 AM UTC, according to a Binance announcement made on May 14. Just 30 minutes after the spot trading went live, NXPC will also be listed on Binance Futures, where users can acquire leveraged positions of up to 50x. Alpha users are in for an Airdrop surprise Before the listing, Binance Alpha will also host a token generation event where users qualifying with some levels of Alpha Points will be entitled to claim NXPC tokens on the Binance Alpha Events Page. The airdrop will occur from May 15, 6:00 AM UTC to May 16, 5:59 AM UTC. Binance did not specify the amount of NXPC tokens to be offered in the airdrop. Allocation will depend on the Alpha Points balance and qualification of the user. Significantly, listing on Binance Alpha and Futures is not a guarantee of a spot listing. NXPC will still need to pass through Binance’s internal review and due diligence process before it will qualify to be eligible for Binance Spot. Wider Exchange Support Apart from Binance Alpha, several of the leading crypto exchanges have also announced plans to list NXPC, including KuCoin, Bitget, Gate.io, Upbit, and Bithumb—showing widespread support for the token launch. Nexspace and Web3 Evolution of MapleStory Nexspace is Nexon’s blockchain subsidiary, set up to spearhead the company’s Web3 charge. Its flagship project is MapleStory Universe, a decentralized version of the successful MMORPG MapleStory, which originally went live in 2003. Central to this initiative is NXPC, a utility token that allows players to create, trade, and own in-game items as NFTs. The token will be used to promote community-generated content and user interaction across the game’s blockchain ecosystem. Though the Nexspace team has not yet formally disclosed the blockchain platform for NXPC, most of the community expects it will be deployed on Avalanche, which already hosts the Web3 infrastructure of MapleStory Universe.

14 May 2025, 13:46

Grass crypto price surges as daily scraped data hits an all-time high

The Grass crypto token price continued surging this week and reached its highest level since March 6 this year as its scraped data jumped to a record high. Grass ( GRASS ) surged to a high of $2.4078, up nearly 70% from its monthly low, bringing its market capitalization to over $578 million. Daily trading volume jumped 215% to $151 million. According to the Grass Foundation , daily data scraped jumped to a record high of 1,762 terabytes, up from this week’s low of 200 terabytes. The previous daily record was 1.745 terabytes in March. Grass utilizes unused internet bandwidth from user devices (or “nodes”) to scrape publicly available data from websites such as Wikipedia and The New York Times. This data is then used to train AI models, offering them access to real-time public information. You might also like: Synthetix wants to acquire Derive through a $27m token swap In return, the Grass Foundation rewards its 2 million members with GRASS tokens, creating a mutually beneficial ecosystem. Meanwhile, CoinGlass data shows demand for the Grass crypto token has also surged in the futures market, hitting an all-time high of $152 million, driven primarily by activity on Bybit, followed by Binance. Grass crypto price analysis Grass price chart | Source: crypto.news The four-hour chart shows that Grass climbed to $2.3875, its highest price since March 6. It broke above the key resistance level at $2.00, previously the high from April 2. GRASS has also broken out of a green symmetrical triangle, confirming a bullish move. It’s now trading above the 50-period moving average, while the Relative Strength Index has entered overbought territory. Therefore, the most likely scenario is where the Grass crypt coin retreats and retests the psychological point at $2, and then resumes the uptrend. More gains may see it jump to its all-time high of $3.85, up by 70% from the current level. The bullish outlook for Grass Coin will be invalidated if it falls below the psychological level of $1.50, which aligns with the confluence of the two triangle trendlines. You might also like: London-listed crypto firm Vinanz secures $4m backing for US Bitcoin push and dual listing plans