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The Niagara Falls City Council has formally advanced the first completed application for a high-energy use industry operating permit in the city.

On a 5-0 vote Wednesday night, the council sent the application of BlockFusion, a cryptocurrency mining operator, to the Falls Planning Board and the Falls Zoning Board of Appeals for review and consideration. The boards will make recommendations regarding the application and send those back to the City Council for a final determination.

If the council approves the BlockFusion application, it will mark the first high-energy use industry operating permit to be granted under the citys revised zoning code which places new restrictions on those industries, which also include data centers and cannabis cultivation.

BlockFusion ceased operating its facility, on Frontier Avenue, in November after the city notified the company that it was in violation of the new high-energy use industry zoning code amendments. The city also sought a preliminary injunction to block continued mining at two other cryptocurrency mining facilities in the Falls.

While U.S. Bitcoin, which operates a cryptomine on Buffalo Avenue, continued its operations without a permit, BlockFusion immediately filed an application for an operating permit and made changes to comply with the new zoning code requirements. In December, the city asked for some supplemental changes to BlockFusions application and the company said it promptly complied with that request.

An attorney for BlockFusion, William Rossi, has repeatedly said his client wants to do business in the Falls.

Its important to them to do this right, Rossi said. I would be willing to cooperate in anyway possible.

Mayor Robert Restaino has said previously that because of the Bitcoin litigation and because BlockFusion is the first operating permit applicant under the new zoning code regulations, the city has moved very cautiously through the permitting process.

Everybody is kind of watching this, Restaino said. Were wanting to make sure BlockFusion gets across the finish line because it shows our (new) statute works.

U.S. Bitcoin is continuing to operate its facility under a contempt of court order and has racked up fines of over $1 million. However, settlement talks are reportedly underway between the city and U.S. Bitcoin.

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Council advances operating permit application from cryptocurrency mining company - Niagara Gazette

PRESS RELEASE

Published March 27, 2023

OneKey, a cryptocurrency hardware wallet company, has received investment support from Coinbase, making it the first hardware wallet team ever invested in by Coinbase. As a company dedicated to providing secure and convenient digital asset management solutions for global cryptocurrency users, OneKey has attracted considerable attention due to its features such as open-source code, multi-chain and multi-coin support, full platform compatibility, and independent security chips.

Key Features:

1. Backed by Coinbase investment

OneKey's status as the first hardware wallet team invested in by Coinbase demonstrates its strength in the cryptocurrency hardware wallet field and market recognition.

2. Open-source software and hardware

OneKey's open-source software and hardware code can be found on its GitHub page (https://github.com/OneKeyHQ). Open-source code helps improve project transparency, allowing users to better understand the operation of the product.

3.Full platform compatibility

OneKey supports PC desktop, mobile, and plugin platforms, enabling users to manage their digital assets easily and on-the-go.

4. Dual-chip security architecture

OneKey uses an independent security chip, safeguarding user assets through a dual-chip security architecture, reducing the risk of digital currency theft.

5.Multi-chain, multi-coin support

OneKey supports over 1,000 cryptocurrencies, meeting users' management needs for various digital assets.

6. Beginner-friendly

OneKey is easy to use and understand, suitable for cryptocurrency users of different levels, from seasoned players to beginners.

7. Rapid after-sales support

OneKey provides 7-day, 24-hour after-sales support, ensuring that users encountering issues during use can get timely resolutions.

Conclusion

Coinbase's investment in OneKey cryptocurrency hardware wallet company indicates that OneKey possesses strong technical expertise and market potential in the digital asset management field. OneKey is expected to provide global users with more secure and convenient digital asset management solutions, promoting the healthy development of the cryptocurrency industry.

About OneKey

1. Worlds only hardware wallet invested by Coinbase

2. MISSION & VALUES: Be the BEST choice for any individual and business to keep crypto assets, providing decentralized banking services.

3. 2022.11 - Series A round of funding at a valuation of $65 million, led by Dragonfly Ventures and Ribbit Capital.

4. 2023.03 - Series A+ round of funding at a valuation of $85 million, led by IOSG Ventures.

5. OneKey is the wallet that offers the most supported platforms and comprehensive set of features in the market.

Media ContactCompany Name: OneKey LimitedContact Person: Media RelationsEmail: Send EmailAddress:Primoknit Industrial Building City: Kwai ChungState: NtCountry: HongKongWebsite: https://onekey.so

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Coinbase-backed OneKey Cryptocurrency Hardware Wallet: A New ... - Digital Journal

Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, arrives on the day of a hearing at Manhattan federal court in New York City, January 3, 2023.

David Dee Delgado | Reuters

FTX co-founder Sam Bankman-Fried paid out tens of millions of dollars worth of bribes to at least one Chinese government official, federal prosecutors alleged in a new indictment Tuesday.

The federal government alleges that accounts belonging to Bankman-Fried's hedge fund, Alameda Research, were the target of a freezing order from Chinese police "in or around" Nov. 2021. The indictment also alleges that Bankman-Fried and others "directed and caused the transfer" of at least $40 million in cryptocurrency "intended for the benefit of one or more Chinese government officials in order to influence and induce them" to unfreeze some of these accounts.

Bankman-Fried and his associates considered and tried "numerous methods" to unfreeze the accounts, which contained around $1 billion worth of cryptocurrency, prosecutors allege. Ultimately, after both legal and personal efforts failed, Bankman-Fried agreed and directed a multi-million dollar bribe to unlock the frozen accounts, prosecutors allege.

Bankman-Fried's hedge fund used the unfrozen assets to continue to fund Alameda's loss-generating trades, continuing on what the government says was a fraud upon customers and investors for another year. FTX and Alameda imploded in Nov. 2022 after concerns about their balance sheet turned into a veritable bank run. Bankman-Fried now faces a federal indictment and civil charges from both the Securities and Exchange Commission and the Commodity Futures Trading Commission.

The charges indicate that new evidence has been obtained by the federal government about Bankman-Fried's international dealings, and it comes one day after U.S. regulators slapped crypto exchange Binance with allegations of facilitating terrorist financing and violations of U.S. derivatives law.

Meanwhile, Bankman-Fried's collapsed FTX remains mired in Delaware bankruptcy court proceedings.

CNBC reached out to a spokesperson for Bankman-Fried but did not immediately hear back.

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Sam Bankman-Fried paid over $40 million to bribe at least one Chinese official, DOJ alleges in new indictment - CNBC

(Adds details, context)

NEW YORK, March 28 (Reuters) - U.S. prosecutors on Tuesday unveiled a new indictment against Sam Bankman-Fried, charging the founder of now-bankrupt FTX cryptocurrency exchange with conspiring to violate anti-bribery provisions of the Foreign Corrupt Practices Act.

Federal prosecutors in Manhattan accused Bankman-Fried of directing the transfer of at least $40 million of cryptocurrency to benefit Chinese government officials.

In a court filing, they asked U.S. District Judge Lewis Kaplan to arrange a court hearing so Bankman-Fried can be arraigned on the new, 13-count indictment.

The 31-year-old former billionaire had previously pleaded not guilty to eight counts over the collapse of FTX. Prosecutors say Bankman-Fried stole billions of dollars in customer funds to plug losses at Alameda Research, his crypto-focused hedge fund.

A spokesman for Bankman-Fried did not immediately respond to a request for comment. (Reporting by Luc Cohen and Jonathan Stempel in New York; editing by Jonathan Oatis)

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UPDATE 1-FTX's Bankman-Fried charged with bribery conspiracy in new indictment - Yahoo Finance

Banking regulators will face tough questions from Congress today while the U.S. brings a case against the worlds largest cryptocurrency exchange. Heres what investors need to know today.

Top U.S. banking regulators are scheduled to appear this morning before the Senate BankingCommittee to discuss the collapse of Silicon Valley Bank and Signature Bank. Witnesses will include FDIC Chair Martin Gruenberg, Fed Vice Chair Michael Barr, and U.S. Under Secretary of Treasury Nellie Liang.

U.S. regulators sued Binance alleging the operator of the worlds largest cryptocurrency exchange and its founder Zhao Changpeng kept an illegal foothold in the American market and violated rules designed to prevent illicit financial activity. A Binance spokesperson called the CFTCs actions unexpected and disappointing, saying the company had made significant investments over the past two years to ensure we do not have U.S. users active on our platform.

Alibaba (BABA) shares are rising more than 6% in pre-market trading on a report the company plans to split its $220 billion empire into six main units that will individually raise funds and explore IPOs. The plan to split into units covering ecommerce, media, and the cloud would mark the biggest overhaul of Chinas ecommerce leader since its inception more than two decades ago.

Shares of ride hailing company Lyft (LYFT) are up more than 5% in pre-market trading after the company announced it has hired board member David Risher as its new CEO. The founders of the company, Logan Green and John Zimmer, will step back from day-to-day management of the company.

Facebook reportedly plans to lower bonus payouts for some staff. Parent Meta Platforms says it will more frequently assess employee performance as part of a sweeping revamp that includes large job cuts.

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5 Things to Know Before Markets Open - Investopedia