Cryptocurrency News Today TheBitTimes.com

Stuart Hoegner leaves roles as Tether and Bitfinex general counsel Stuart Hoegner, the long-time general counsel of sister firms Tether and Bitfinex, appears to have left the firm. This is based on a change to his bio on X, which now reads, “Former GC @Bitfinex @Tether_to.” This ends a decade at these firms. Hoegner originally joined Bitfinex back in 2014, according to his LinkedIn account. Archives for Tether’s “About Us” page show that Hoegner was still listed as the firm’s general counsel as recently as Christmas Eve. Tether: Ten years, 100,000,000,000 USDT, and still no audit Read more: Tether’s Q3 attestations prove that it can’t quit secured loans Now the page only lists Chief Exec Paolo Ardoino, Chief Financial Officer Giancarlo Devasini, and Chief Operating Officer Claudia Lagorio.  For Bitfinex’s part, archives show that Hoegner was still listed in November but currently isn’t. Tether r...

Crypto-friendly Evolve Bank and Trust has admitted that it has known about ‘unauthorized activity’ — specifically the theft of 33 terabytes of user data — for the past month despite only notifying end users about the breach last week. The data leak, which has been attributed to infamous Russia-based ransomware group Lockbit, reportedly includes personal details belonging to Bitfinex users. Evolve said on Monday that in late May, some of its systems stopped working properly due to ‘unauthorized activity’ that appears to stem from an employee accidentally clicking on a malicious link .  The bank claims it stopped the attack ‘within days’ and hasn’t seen any more unauthorized activity since May 31. It also didn’t pay the ransom demand and says Lockbit mistakenly attributed the data to the Federal Reserve.  Despite this activity, as reported by Fintech Business Weekly (FBW) reporter Jason Mikula, “It appears [Evolve Bank] didn’t notify impacted fintechs (or en...

A couple of weeks ago, a new securities offering was added to Bitfinex Securities, intended to raise money to build a Hampton hotel near an airport in El Salvador . The offering hoped to raise $6.25 million in 30 days, however, over halfway through, only $342,000 has been raised, according to the Bitfinex Securities website. This hotel offered unusual ‘benefits’ to investors, including offering free nights if you invested enough, and up to unlimited stays over the five-year bond term if you invested at least $1 million.  Furthermore, the ‘Market Study Update’ issued by Horwath HTL and distributed alongside this offering submission suggests that the hotel is projected to make $2.7 million in total revenues . This is somewhat surprising as construction is yet to be completed, and the fundraising documents on Bitfinex Securities state that construction will take “less than 12 months,” leaving little time to hit that target. A quick check in on B...