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CATEGORY: new york times


May 31, 2023 02:10

Did The New York Times Publish Manipulated Footage Of A Bitcoin Mine?

This is an opinion editorial by Level39, a researcher focused on Bitcoin, technology, history, ethics and energy. Did The New York Times manipulate aerial drone photography for its recent article attacking Bitcoin mining, in order to make the air in Rockdale, Texas appear smoggy? On April 9, 2023, the paper published its article, “The Real-World [...]

The post Did The New York Times Publish Manipulated Footage Of A Bitcoin Mine? appeared first on Crypto Breaking News.

FTX’s Bankman-Fried seeks gag order for all witnesses in criminal case

Author: Cointelegraph By Brayden Lindrea
United States
Jul 24, 2023 08:20

FTX’s Bankman-Fried seeks gag order for all witnesses in criminal case

Lawyers representing SBF have agreed to a gag order preventing him from making comments that could sway his criminal trial but says it should apply to other witnesses too.

Community slams NYT for its latest 'sympathy piece' on FTX's Bankman-Fried

Author: Cointelegraph By Jesse Coghlan
United States
Dec 27, 2022 08:30

Community slams NYT for its latest 'sympathy piece' on FTX's Bankman-Fried

The article bizarrely contrasts the alleged fraud carried out by Sam Bankman-Fried with gang violence on the Bahamian island of New Providence.

Dec 01, 2022 01:20

Former FTX Boss Speaks at Dealbook Event, Says He ‘Didn’t Knowingly Co-Mingle Funds’

On Nov. 30, 2022, the former FTX CEO Sam Bankman-Fried (SBF) discussed FTX’s collapse at the New York Times’ Dealbook Summit with Andrew Ross Sorkin in his first live-appearance interview since the crypto exchange’s downfall. SBF told the Dealbook Summit host that he was “deeply sorry about what happened” and further stressed that he “didn’t

The post Former FTX Boss Speaks at Dealbook Event, Says He ‘Didn’t Knowingly Co-Mingle Funds’ appeared first on BTC Ethereum Crypto Currency Blog.

Meta ‘powering through’ with Metaverse plans despite doubts — Zuckerberg

Author: Cointelegraph By Jesse Coghlan
United States
Dec 01, 2022 08:20

Meta ‘powering through’ with Metaverse plans despite doubts — Zuckerberg

Billions of dollars have been poured into Meta’s virtual world with little return on investment, but CEO Mark Zuckerberg says he is holding fast.

Legal professionals astonished as SBF admits failures, apologizes 12 times in interview

Author: Cointelegraph By Stephen Katte
United States
Dec 01, 2022 08:20

Legal professionals astonished as SBF admits failures, apologizes 12 times in interview

The former FTX CEO has offered multiple apologies and admitted failings at least a dozen times during the one-hour interview.

Malice Or Ignorance? The New York Times Keeps Printing Lies About Bitcoin Mining

Author: Eduardo Próspero
United Kingdom
Mar 28, 2022 12:10

Malice Or Ignorance? The New York Times Keeps Printing Lies About Bitcoin Mining

The New York Times’ campaign against bitcoin rages on. Even though this time they had the perfect opportunity to write a balanced article, they didn’t. The author reports one positive bitcoin mining story after another, while keeping a snooty attitude and suggesting it’s all a PR move. The title summarizes the New York Times’ stance, “Bitcoin Miners Want to Recast Themselves as Eco-Friendly.” Related Reading | Valkyrie Bitcoin Mining ETF “WGMI” Approved For Nasdaq Listing Before we get into it, a quick story. The foremost expert in bitcoin’s energy consumption, Nic Carter, published an exhaustive report on mining. Among other things, it contained hard data that showed to what extent China was mining using hydropower energy. Mainstream media largely ignored it. The party line was that we couldn’t trust China’s statistics. And, that China was probably burning cole.  Fast forward to last month. China banned bitcoin mining a while ago and bitcoin’s hashrate relocated, recovered, while the network functioned perfectly throughout. Most of China’s mining industry relocated to green energy-abundant countries. What did the New York Times post? An article called “China Banished Cryptocurrencies. Now, ‘Mining’ Is Even Dirtier,” that claims that Chinese miners were using hydropower energy and thus used cleaner energy. That’s the level of propaganda we’re dealing with. What Did The New York Times Say About Bitcoin Mining This Time? The article starts by featuring Argo Blockchain, the company is building a new facility that “would be fueled mostly by wind and solar energy.” They even quote Peter Wall, Argo CEO, saying. “This is Bitcoin mining nirvana. You look off into the distance and you’ve got your renewable power.” What could be wrong with that? Two paragraphs later, the New York Times starts pushing lies and embarrassing numbers:  “A single Bitcoin transaction now requires more than 2,000 kilowatt-hours of electricity, or enough energy to power the average American household for 73 days, researchers estimate.” Of course, those ridiculous claims come from Digiconomist, a widely debunked researcher who happens to be an employee of the Dutch Central Bank. And then, they blatantly quote the malicious study mentioned in the intro.  “The Bitcoin network’s use of green energy sources also dropped to an average of 25 percent in August 2021 from 42 percent in 2020. (The industry has argued that its average renewable use is closer to 60 percent.) That’s partly a result of China’s crackdown, which cut off a source of cheap hydropower.” And quote Alex de Vries, one of the study’s authors, being completely off the mark. “What a miner is going to do if they want to maximize the profit is put their machine wherever it can run the entire day.” WHAT? To maximize profit, a miner is going to find the cheapest source of energy possible. Energy is their biggest cost. The cheapest source possible is energy that’s currently being wasted. That’s the situation. BTC price chart for 03/26/2022 on Forex.com | Source: BTC/USD on TradingView.com More Feel-Good Stories Framed As Bad News The New York Times even quotes Paul Prager, TeraWulf CEO, saying “Everyone I talk to now is talking about carbon neutrality. The language has absolutely changed.” And then, the newspaper spreads the good news. “TeraWulf, has pledged to run cryptocurrency mines using more than 90 percent zero-carbon energy. It has two projects in the works — a retired coal plant in upstate New York fueled by hydropower, and a nuclear-powered facility in Pennsylvania.” None of these stories are celebrated. Remember the article’s title, they are cynically presented as PR stunts. Then, it´s time for Sangha Systems, who “repurposed an old steel mill in the town of Hennepin. Sangha is run by a former lawyer, Spencer Marr, who says he founded the company to promote clean energy. But about half the Hennepin operation’s power comes from fossil fuels.” The New York Times Closes The Loop That’s the worst example that the New York Times could find. A person who “founded the company to promote clean energy” but had to make a compromise to start his business. To close the article, the author brings us back to Argo Blockchain and tries to pull something similar. Apparently, the CEO “can’t guarantee that Argo’s new center will have no carbon footprint. That would require bypassing the grid and buying energy directly from a renewable power company.” Related Reading | Biden Loves Intel’s Plan To Produce Semiconductors. What About Bitcoin Mining? And then, they quote him again. “A lot of those renewable energy producers are still a little bit skeptical of cryptocurrency. The crypto miners don’t have the credit profiles to sign 10- or 15-year deals.” So, Argo is really trying but it’s not possible at the moment for understandable reasons. And the whole industry is moving to a greener path because the incentives are aligned that way. Got it, New York Times. Got it. Featured Image by tacskooo on Pixabay | Charts by TradingView

Sep 16, 2021 01:30

Yet Another Reminder That Many Bitcoin Critics Are Subpar

The funny thing is that Bitcoin is going to win in such a fantastic way because it is rooted in proof of work.

Mar 20, 2023 06:05

Fractional Reserve Carbon Accounting Is An Attack On Bitcoin Mining

A forthcoming New York Times article is expected to introduce “fractional reserve indirect carbon accounting” and target bitcoin mining.

Apr 11, 2023 07:50

Riot Platforms Slams New York Times’ “Politically Driven Attack on Bitcoin Mining”

The New York Times claims Riot uses 96% fossil fuel, which is disputed.

Continue reading at DailyCoin.

Apr 10, 2023 10:30

Bitcoin Proponents Accuse the New York Times of Publishing One-Sided ‘Hit Piece’ on Bitcoin Mining

After the New York Times was accused of writing favorable pieces about disgraced FTX co-founder Sam Bankman-Fried and inviting him to speak at the news outlet’s Dealbook Summit, it is once again being criticized for publishing a “hit piece” about bitcoin mining. The article’s authors claim that bitcoin mining is harmful to the environment, while [...]

The post Bitcoin Proponents Accuse the New York Times of Publishing One-Sided ‘Hit Piece’ on Bitcoin Mining appeared first on Crypto Breaking News.

Jan 31, 2025 05:50

Tangem in the Spotlight: Featured in The New York Times & Nasdaq Tower

We are proud to announce that Tangem was recently featured in The New York Times and showcased on the iconic Nasdaq Tower in New York City.

The post Tangem in the Spotlight: Featured in The New York Times & Nasdaq Tower appeared first on Crypto Breaking News.

Jul 07, 2023 10:50

Kraken Boss Jesse Powell Now Has the FBI Knocking At His Door

Kraken’s co-founder Jesse Powekk became a person of interest as the FBI [Federal Bureau of Investigation] searched his Brentwood residence in Los Angeles’ Westside, seizing electronic devices.  On July 6, The New York Times reported that Powell is under investigation for alleged hacking and cyberstalking of a non-profit that he founded. FBI and the U.S. Attorney’s office […]

FBI searched Kraken co-founder's home in March: Report

Author: Cointelegraph By Brayden Lindrea
United States
Jul 07, 2023 08:20

FBI searched Kraken co-founder's home in March: Report

Electronic devices were seized from former Kraken CEO Jesse Powell’s Los Angeles home in connection to a non-crypto-related investigation into alleged hacking and cyberstalking.

May 05, 2023 12:25

Media Giants Ask Court to Release Details of 9M FTX Customers

Four top media firms including Bloomberg L.P. have rejected the latest move by FTX debtors and creditors to extend a 90-day redaction window that granted them permission to hide details of customer-creditors of the bankrupt crypto exchange in certain filings.

Bloomberg, Others Criticize FTX Secrecy

The media giants, which also includes Dow Jones, The New York Times and The Financial Times, in a court filing on Thursday asked the US Bankruptcy Court in Delaware to reject their move and sanction the release of the details of nine million FTX customers-creditors.

On January 20, the court had given the FTX debtors a 90-day window to redact the names of all customers and the addresses and email address of customers who are not natural persons. The court also gave permission to hide the names and addresses of 'any creditors or equity holders' who are natural persons and are protected by the General Data Protection Regulation (GDPR), the law that protects the privacy and personal data of EU citizens.

However, in March, the Ad Hoc Committee of Non-US Creditors of FTX filed a motion to redact the names of its members in certain filings, a proposition the media giants rejected in April, noting that the request was “substantially identical” to those initiated by the FTX debtors.

Furthermore, on April 20, FTX debtors and creditors filed a motion to extend the redaction period for an additional 90 days. They also asked the court to permanently seal the names of FTX’s individual customer-creditors in accordance with US and non-US privacy laws.

However, Bloomberg and the other media organizations in the court filing argued that the FTX debtors and creditors provided no evidence to support their argument for redaction. They also contended that that there is no basis to claim that the names of FTX’s customer-creditors constitute confidential commercial information.

Furthermore, they also maintained that existing record does not establish that disclosing the names will subject them to an “undue risk” of identity theft or other unlawful injury. Additionally, they claim that there is no legal basis for hiding the names of individual creditors pursuant to foreign data privacy laws.

According to the court filing, the hearing date for the case is May 17, 2023.

FTX Continues Asset Recovery Efforts

FTX, which was founded by Samuel Bankman-Fried, collapsed in November following a withdrawal frenzy and discovery of intermingling of funds between the exchange and sister crypto hedge fund, Alameda Research. The failed exchange filed for Chapter 11 bankruptcy protection last year and has been making efforts to recover its assets.

Finance Magnates reported that the exchange, which is fighting to revive its business, has been able to recover $7.3 billion in liquid digital assets and cash.

JUST IN: Bankrupt FTX has recovered $7.3 billion in assets and is considering relaunching the exchange in Q2.

— Watcher.Guru (@WatcherGuru) April 12, 2023

Meanwhile, in a new court filing processed on Wednesday, FTX is also seeking to recoup about $4 billion from bankrupt crypto lender Genesis, claiming that the latter was “largely repaid” about $8 billion in loans given to Alameda Research. FTX claims that Genesis received "avoidable transfers" in the 90-day period before the exchange filed for bankruptcy protection.

The exchange further noted that Genesis “was one of the main feeder funds for FTX” and was “instrumental to its fraudulent business model.”

FTX moves to claw back $3.9 billion from Genesis.1. $2.1 billion loan repayments/collateral pledge2. $1.8 billion FTX exchange withdrawals pic.twitter.com/1SsW8yoPck

— FTX 2.0 shareholder (in spe) (@AFTXcreditor) May 3, 2023

FCA on whistleblower; Equinix's Q1 results; read today's news nuggets here.

This article was written by Solomon Oladipupo at www.financemagnates.com.

May 03, 2023 04:50

Biden Administration Proposes 30% Tax On Crypto Mining To Counter Environmental Impact

Several US authorities have raised concerns regarding the environmental impact of crypto mining. Previously, US lawmakers probed the crypto mining energy use and environmental impact. Biden’s administration is taking these concerns to another level. Biden’s Council of Economic Advisers (CEA) announced a 30% digital asset mining tax to offset its environmental impact. The new tax rule tagged DAME will take effect after a phase-in period. Bitcoin Energy Consumption Attracts New Tax Rules Crypto mining electricity consumption and carbon emission have been a bone of contention in the United States over the past years. A recently published New York Times article claimed Bitcoin has a voracious appetite for electricity, sparking several reactions among crypto community members. Related Reading: Bitcoin Analysis: How To Prepare For Today’s FOMC Meeting The CEA announced plans to impose a 30% tax on all crypto-mining activities. The council believes the crypto mining industry’s operations negatively impact the environment and is ready to counter them. The proposed tax, tagged Digital Asset Mining Energy (DAME), aims to make crypto mining firms take responsibility for their environmental impact. According to the CEA’s announcement, the new tax rules will have a phased-in period before taking its course. Under the new tax guidelines, all mining firms in the US would pay taxes on 30% of their total electricity usage. The CEA feels crypto miners must take responsibility for the environmental pollution they impose on the local community from the increased greenhouse gas emissions. Also, the CEA believes the crypto firms aren’t fully paying the cost of these pollutions, considering their energy consumption rate. The council cited the recently published New York Times (NYT) article, which criticized the digital asset industry for the environmental impact of its mining operations. Crypto Community Reacts To New Bitcoin Mining Tax The proposed DAME tax sparked reactions among members of the crypto community. Many tagged the tax as unfair, criticizing the government for the high tax without incentivizing clean energy usage.  Pierre Rochard, Riot Platforms’ VP of Research, who previously criticized the NYT’s article, condemned the DAME tax. Related Reading: Top 5 Cryptos To Watch This Week Amid US Banking Crisis According to Rochards, the White House targets Bitcoin at the wrong time. To Rochard, the US government should instead focus on the failing banking system. Featured Image/Pexels, chart/ TradingView

Aug 02, 2023 05:50

SBF denies witness tampering in effort to avoid jail

Lawyers for Sam Bankman-Fried have denied that he attempted to intimidate witnesses in his criminal trial by talking to New York Times reporters and argued there is no reason to jail him. In an Aug. 1 letter to Judge Lewis Kaplan, Bankman-Fried’s lawyers claimed the prosecution’s attempt to revoke his bail and have him detained [...]

The post SBF denies witness tampering in effort to avoid jail appeared first on Crypto Breaking News.

Aug 03, 2023 10:10

Sam Bankman-Fried Denies Witness Tampering Allegations in Battle to Avoid Jail Before Trial

Sam Bankman-Fried’s lawyers denied that the former FTX CEO’s interview with a New York Times reporter amounted to witness tampering and that he should thus [...]

May 02, 2023 06:05

Who Benefits From The New York Times’ Attacks On Bitcoin?

A recent editorial attack on Bitcoin mining by The New York Times raises questions about its journalistic integrity and editorial process.

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