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Kraken’s Powell claims in lawsuit he was denied housing due to crypto ties

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Kraken co-founder and former CEO Jesse Powell has refuted allegations linking him to crypto-related misconduct as part of an ongoing discrimination lawsuit. The lawsuit, filed by a former employee, accuses Powell of creating a hostile work environment and claims he engaged in questionable crypto dealings, allegations that Powell and Kraken have strongly denied.

According to Powell, the lawsuit is meritless and politically motivated, aiming to damage his reputation and Kraken’s standing in the crypto industry. The former CEO asserts that the claims regarding crypto-related misconduct are unfounded and misrepresent his role at the company. Kraken, one of the world’s largest cryptocurrency exchanges, has also dismissed the lawsuit, emphasizing its commitment to workplace fairness and compliance.

The legal battle comes as regulatory scrutiny on crypto firms intensifies, with exchanges like Kraken facing increased oversight from U.S. authorities. Powell, who stepped down as CEO in 2022, has remained vocal about crypto regulation, free speech, and corporate governance, often criticizing what he sees as overreach by regulators. His departure from Kraken was framed as a strategic shift, though the lawsuit has reignited controversies surrounding his leadership style.

As the case unfolds, Kraken and Powell continue to defend their positions, maintaining that the allegations are unsubstantiated. The outcome could have broader implications for workplace policies within the crypto industry, particularly as regulators and legal authorities focus on corporate ethics and governance in digital asset firms.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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