"It is undisputed that Alameda failed to deliver the cryptocurrency contemplated by the Loan Confirmation to the Master Loan Agreement. The loan therefore did not commence," lawyers for the FTX-Alameda estate wrote. "The Master Loan Agreement gives Tai Mo Shan one remedy when a loan does not commence: voiding the applicable Loan Confirmation."

Jump Trading Drags FTX Estate to Court Over $264M Serum Token Loan

A Cleveland bank teller has reportedly been accused of forging names and other documents to drain tens of thousands of dollars out of customers’ bank accounts.

According to a new report by a local news outlet, federal prosecutors say that Denice James, a teller at First Federal Savings of Lorain, allegedly stole approximately $75,000 from eight different victims by faking documents and embezzled $1,000 from the bank itself.

The report says that James stole the money between July 25, 2023, and November 2, 2023, by forging customers’ names on bank slips and submitting them right before the bank closed, as no customers were inside. She would then process the withdrawals and take the cash for herself.

She has been charged with eight counts of bank fraud, eight counts of aggravated identity theft, and one count of embezzlement, to which she has pleaded not guilty.

This incident is the latest in a string of fraud schemes involving bank tellers. In May, a bank teller in Maryland pleaded guilty to stealing $255,000 from his employer’s elderly clients by having conspirators impersonate victims to make fraudulent bank withdrawals.

In March, a bank teller from New York, whose job it was to tally up money at the end of the day, was accused of stealing $1,000,000 in cash from his bank’s vault by forging signatures.

Follow us on X Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Bank Insider Reportedly Forges Names and Fills Out Fake Withdrawal Slips, Drains $75,000 From Accounts of Eight Customers

An ATM scheme has reportedly drained tens of thousands of dollars from elderly customers of the biggest banks in the United States.

New York City police are warning senior citizens to be on the lookout for a trio of scammers at ATMs after a crime spree that occurred between May and June, reports The New York Post.

Authorities warn that the group – made up of two men and a woman – act as good Samaritans by offering to help the elderly use the ATM or strike up a conversation with them as a distraction to try and steal their bank cards.

Police say that on May 14th, the trio stole $20,000 from the bank account of a 90-year-old woman and drained $3,000 from the account of an 83-year-old woman in two separate incidents that occurred just one hour apart.

On June 2nd, one of the thieves started up a conversation with a 71-year-old man while withdrawing cash at a Chase Bank ATM. While the victim was distracted, the scammer stole the man’s bank card and linked up with another man at a different Chase Bank ATM location, where they tried to take out $5,500.

The 71-year-old says the scammers charged $6,000 to his account in just one hour.

The thieves struck again on June 19th when they targeted an 86-year-old woman and stole about $24,000 from her account.

According to the police, the trio is responsible for stealing at least $70,000 from elderly victims.

Authorities say that a total of nine incidents of thieves using the same scheme against seniors at Chase Bank, Bank of America, Capital One and Citibank locations in New York were reported between May 8th and June 26th.

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix



Scammers Drain $70,000 From Bank Accounts in Scheme Targeting JPMorgan Chase, Bank of America, Citibank and Capital One Customers: Report

Fidelity Investments’ global macro director Jurrien Timmer says that the stage is set for Bitcoin (BTC) to have an explosive breakout.

In a new thread on the social media platform X, Timmer says that based on a historical relationship between Bitcoin and the global money supply metric the top digital asset by soon print new all-time highs.

“With both liquidity improving per the global money supply and the stock market reaching new highs, it’s no surprise that Bitcoin is on the move again. Both Dr. Jekyll and Mr. Hyde are being supported for now, and Bitcoin should be at new all-time highs soon enough if this momentum continues.”

Timmer also says that a weakening US dollar may drive more investors into gold and, potentially, Bitcoin as a hedge against currency debasement.

“One of the big questions remains whether a new world order is emerging in which the US dollar loses at least some of its supremacy and is supplanted by a mixture of other fiat currencies and hard money (gold and perhaps Bitcoin). Maybe this regime change was signaled three years ago when gold stopped trading in lockstep with real rates.”

Lastly, the analyst says the Sharpe ratio is now starting to favor BTC over gold as a better return on investment. The ratio was created by Nobel laureate William Sharpe and is designed to show the amount of return an investor could potentially get for enduring the volatility of a risky asset.

“With risk appetites rising, the baton has been passed back to Bitcoin, following the pattern of recent months. You can see that in the chart below, with the two Sharpe ratios converging.”

Bitcoin is trading for $107,792 at time of writing, down 1.9% in the last 24 hours.

Follow us on X Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Bitcoin Primed To Hit New All-Time High Soon Enough, According to Fidelity’s Global Macro Analyst Jurrien Timmer – Here’s Why

The Federal Reserve has caught a bank employee allegedly embezzling tens of thousands of dollars from a nonprofit organization where she worked.

In a new press release, the Fed is prohibiting former Jonah Bank employee Kendall Hickman from participating in activities related to financial institutions after she was allegedly found to have embezzled $33,212 from a nonprofit organization.

According to the Fed, Hickman worked for both the Wyoming-based bank as well as moonlighted for an unnamed nonprofit organization as a bookkeeper.

She worked for both firms from July 2021 to June 2023, and through unexplained means, she managed to embezzle the funds from the nonprofit, but was allegedly caught by authorities.

The Fed says Hickman’s actions “constituted violations of law or regulation and involved personal dishonesty.” Though she has repaid the nonprofit in full and has consented to the enforcement actions against her, she has neither admitted nor denied any of the allegations.

The prohibition order notes that taking this enforcement action doesn’t bar it from taking further actions against Hickman later on. If Hickman were to violate this order, she would be charged with separate civil or criminal penalties, according to the press release.

Jonah Bank, the nation’s 1,474th-largest bank, has $529 million worth of assets under its management and was established in 2006.

Follow us on X Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Bank Employee Allegedly Embezzles $33,212 From a Nonprofit She Moonlighted At – And Now the Federal Reserve Has Found Out

A major US city has allocated millions of dollars to a guaranteed income pilot program in the budget for the 2026 financial year.

The speaker of the New York City Council, Adrienne Adams, says the most populous US city is allocating $3 million to a guaranteed income program.

The program will “provide direct cash grants to expecting mothers and foster youth facing housing insecurity.”

Mayor Eric Adams hailed New York City Council’s $115.9 billion budget, which was agreed upon in late June, as the “Best Budget Ever.”

While information was scant on how the New York City guaranteed income program will be rolled out, how long it will run, how many participants will be selected and other key details, this is not the first time the Big Apple is allocating funds to such an initiative.

In the 2025 financial year, the New York City Council allocated $1.5 million to support a guaranteed income pilot program designed to assist “expectant mothers to improve maternal health and reduce child poverty.” This was the first time municipal funds had been used in a guaranteed income program. To run the program, the city partnered with The Bridge Project, a nonprofit focused on helping low-income expectant mothers.

A total of 161 pregnant women experiencing housing insecurity who were selected to participate in The Bridge Project initiative will receive regular income with no strings attached for the first three years of their children’s lives.

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix



Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

US City Launching $3,000,000 Guaranteed Income Program for Residents – Here’s Who Stands To Benefit

Victims of a bank data breach are set to receive up to $3,000 each after a settlement was reached in a class action lawsuit.

According to the settlement administration portal, impacted customers at Arizona-based Evolve Bank & Trust who file a claim and provide documentary evidence of losses resulting from the data breach stand to receive up to $3,000.

A flat cash payment of $20 will also be available but claimants can only choose one or the other, not both.

“In addition to selection one of the Cash Payment options, Settlement Class Members may elect one (1) year of monitoring that will provide the following benefits: Credit Monitoring, real-time alerts, and insurance coverage for up to $1,000,000 for identity theft.”

Claims must be filed by October 30th. A final approval hearing of the settlement will be held on November 14th.

The lawsuit against Evolve Bank & Trust was filed in January and alleges that cybercriminals infiltrated the billion-dollar lender’s information systems and gained access to sensitive and confidential information.

In a notice to customers in July of 2024, Evolve Bank said the data breach had occurred between February and May of 2024.

“…it appears the criminals downloaded information from our databases and a file share that included names, Social Security numbers, bank account numbers, and contact information for most of our personal banking customers, as well as customers of our Open Banking partners. We have also learned that personal information relating to our employees was also likely affected.”

Evolve Bank & Trust, which started as First State Bank in 1925, is headquartered in West Memphis, Arizona. It boasts of around $1.6 billion in total assets and has five branches in the US.

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix



Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Billion-Dollar Bank Handing Thousands of Dollars To Data Breach Victim After Cybersecurity Incident Exposed Names, Social Security Numbers, Account Details

The largest asset manager in the world says the risk of a de-dollarization of the global economy has edged higher due to rising US debt levels.

In a third-quarter fixed income outlook note seen by Reuters, BlackRock analysts say that growing government debt is weakening demand for key US assets like the dollar and long-dated Treasuries.

While de-dollarization may be far-fetched, the analysts say the government’s fiscal situation is increasing that risk, especially following the passage of President Trump’s tax and spending bill, which is expected to add up to $5 trillion to the national debt over the next five years.

Says BlackRock,

“We’ve been highlighting the precarious position of the US government’s indebtedness for some time now, and, if left unchecked, we view debt as the single greatest risk to the ‘special status’ of the US in financial markets.”

The firm’s investment managers also warn that an increasing amount of government spending is being allocated to paying off interest on the debt.

According to the Committee for a Responsible Federal Budget (CRFB), the US is projected to spend 5.3% of its GDP – about 29% of all its revenue – on interest on the national debt by 2034.

BlackRock says there may not be enough natural demand to scoop up the amount of debt the US is trying to sell, which could prop up yields and make its debt burden even worse.

“Despite proposed spending cuts, deficits are still climbing – and more of that spending is now going toward interest payments…

With foreign investors stepping back and the government issuing more than half a trillion dollars of debt weekly, the risk of private markets being unable to absorb this debt and consequently pushing government borrowing costs higher, is tangible.”

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix





Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

BlackRock Issues De-dollarization Warning, Says Rising Debt Levels Could Push Capital Outside US Borders: Report

BitMEX co-founder Arthur Hayes believes the US legislation seeking to establish a framework for dollar-pegged stablecoins will be bullish for Bitcoin (BTC) and major banks.

In a new essay, Hayes says the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act will unlock trillions of dollars in liquidity and boost markets.

According to Hayes, the GENIUS Act, which was passed in the U.S. Senate last month and is now waiting to be tabled on the floor of the U.S. House of Representatives, will allow too-big-to-fail (TBTF) banks to issue stablecoins and unlock up to $6.8 trillion in liquidity.

TBTF banks, which include megabanks such as JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are large financial institutions so critical to the economy that their failure would be catastrophic for the global financial system.

In light of the GENIUS Act, Hayes says the best bet is not investing in non-bank stablecoin issuers such as Circle.

“The real stablecoin play isn’t betting on crusty FinTechs like Circle—it’s understanding that the US government just handed TBTF banks the launch keys to a multi-trillion-dollar liquidity bazooka disguised as ‘innovation’…

Instead, go long Bitcoin. Go long JPMorgan. Forget about Circle.”

According to the BitMEX co-founder, the increased liquidity arising from allowing banks to issue stablecoins, as well as other fiscal policy measures, could send “Bitcoin pumping 10x to $1 million.”

The stocks of the megabanks, on the other hand, could soar by nearly 3x as a result of the GENIUS Act, per Hayes.

“If we take the average price-to-earnings ratio of the TBTF banks at 14.41x and multiply that by the cost savings and stablecoin NIM (net interest margin) potential, it comes out to $3.91 trillion. The current market cap of the eight TBTF banks is approximately $2.1 trillion, which means that stablecoins could pump TBTF bank stocks on average by 184%.”

Follow us on X Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Arthur Hayes Says Proposed Stablecoin Law Will Unleash Multi-Trillion-Dollar Liquidity Bazooka and Benefit Bitcoin, JPMorgan Chase – Here’s How

Zelle and the banks that own the popular payments platform are facing new scrutiny over scams on the trillion-dollar network.

In letters to Zelle’s parent company and the banks – specifically JPMorgan Chase, Bank of America, Wells Fargo, Capital One, PNC Bank, US Bank and Truist – lawmakers demand to know more information on scams stemming from social media.

In a lawsuit dropped by the Trump administration, the Consumer Financial Protection Bureau (CFPB) accused Zelle of failing to implement adequate safeguards against fraudulent transactions, allowing scammers to exploit vulnerabilities and trigger $870 million in losses for hundreds of thousands of consumers.

Now, Senator Elizabeth Warren (D-MA), Senator Richard Blumenthal (D-CT), and Representative Maxine Waters (D-CA) are pushing for stronger consumer protections and transparency, noting JPMorgan Chase, Bank of America and Wells Fargo’s 73% transaction dominance on the network.

They’re asking the banks for data on social media scam frequency, bank reimbursement policies and measures to prevent fraud, warning Zelle’s rapid growth has outpaced its security, leaving millions vulnerable.

They urge banks to follow JPMorgan Chase’s lead, which began blocking Zelle payments linked to social media in February.

Failure to act, they say, could prompt stricter regulations.

A separate investigation by the Permanent Subcommittee on Investigations found that JPMorgan Chase, Bank of America and Wells Fargo significantly decreased their reimbursement rate over time, from 62% of disputed transactions in 2019 to 38% in 2023.

Zelle acknowledges fraud on the network but emphasizes its rarity, claiming 99.95% of transactions occur without issues.

Follow us on X Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

US Lawmakers Probe $870,000,000 in Customer Losses on Zelle, Targeting JPMorgan Chase, Bank of America and Wells Fargo’s Reimbursement Practices

A US car manufacturing giant has agreed to send $150 million to customers to settle accusations that certain vehicles were sold with defective engines.

According to the newly updated settlement portal, General Motors will provide compensation to affected owners and lessees for issues related to excessive oil consumption in vehicles equipped with LC9 engines.

The payout will go to customers in California, Idaho and North Carolina.

The lawsuit alleges GM was aware of a defect triggered by excessively worn piston rings, which leads to excessive oil consumption, spark plug fouling, rough idling, rough acceleration, check engine light activation, engine shutdown commands, oil loss and potentially permanent engine damage or shutdown.

Although GM has decided to settle, the company firmly denies any wrongdoing or liability and rejects the notion that any vehicles connected to the case are defective.

The lawsuit alleges certain 2011 through 2014 models are defective, including Chevrolet Avalanche, Chevrolet Silverado, Chevrolet Suburban, Chevrolet Tahoe, GMC Sierra, GMC Yukon and GMC Yukon XL.

Eligible owners or lessees may automatically receive a pro rata payment estimated at a minimum of $2,149).

North Carolina class members must submit a required Identification Form to confirm eligibility, while others generally need not file a claim unless notified.

Follow us on X Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Car Giant Handing $150,000,000 To Customers in Class Action Settlement Over Defective Engines

Investors are selling billions of dollars of US bonds in a dramatic turnaround signaling fears over America’s fiscal future, according to a new report.

Nearly $11 billion in long-term bonds and corporate debt has been dumped in just three months, reports the Financial Times.

The Q2 2025 selloff ends a five year run of net inflows into long-term US bond funds, with the previous selloff happening back in the first quarter of 2020.

PGIM’s top fixed income strategist Robert Tipp says the shift shows investors are wary of rising inflation and increasing government debt.

“It’s a volatile environment, with inflation still above target and heavy government supply as far as the eye can see. This is driving a skittishness about the long end of the yield curve, and a general uneasiness.”

The news comes amid the passing of President Trump’s “big beautiful” spending bill, which raises the debt ceiling by $5 trillion, extends 2017 tax cuts permanently, boosts spending on defense and border security, cuts parts of Medicaid and SNAP programs, eliminates clean energy tax credits, and introduces tax exemptions for tips and overtime.

Although the impact of the legislation is highly contested by the Trump administration, the Congressional Budget Office (CBO) estimates the bill will add approximately $3.5 trillion to the federal deficit over the next decade.

Treasury Secretary Scott Bessent says he believes the bill will ignite unprecedented economic growth and offset the deficit through increased revenue, while establishing the US as the global leader in manufacturing and job creation.

Follow us on X Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

US Bond Holders Abruptly Dump ~$11,000,000,000 in Treasuries and Corporate Debt Amid Fears of US Fiscal Fallout: Report

About 14 million Android users are set to receive a massive $314.6 million payout from Google, after a jury declared the company wrongfully transferred customer data without permission.

A jury in California has found the tech giant must pay damages for transferring data from idle Android smartphones without permission, reports Reuters.

Google says it will appeal the decision, which the lawsuit claimed triggered “mandatory and unavoidable burdens shouldered by Android device users for Google’s benefit.”

The jury found the data transfers violated California’s privacy laws, and the money will be handed exclusively to users in the state.

According to the lawsuit, which was initiated in 2019, the company used customers’ cellular data to transfer information that was used for things like targeted advertising.

In court, Google argued that the transfers were fully legal and covered by the company’s privacy policies and terms of service, and no users were harmed in any way.

After the verdict was announced, Google spokesperson Jose Castaneda said the jury’s decision “misunderstands services that are critical to the security, performance, and reliability of Android devices.”

Google is also facing a lawsuit on the transfers that represent customers in the rest of the country, which is set to start in the first half of next year.

Follow us on X Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Jump Trading Drags FTX Estate to Court Over $264M Serum Token Loan

Related Post

Inside Crypto News test..

Jump Trading Drags FTX Estate to Court Over $264M Serum Token Loan

Related Post

Inside Crypto News test..

Follow Us: