Crypto exchange Coinbase confirmed on Wednesday that it had been served with a Wells Notice by the Securities and Exchange Commission (SEC). The agency alleges that the exchange’s staking service is unregistered security. It is expected that Coinbase will seek to challenge the SEC’s action in Court. A person familiar with the matter spoke to…
According to a court filing submitted by the FTX’s new management, the company’s former boss Sam Bankman-Fried received over $2 billion in payments from his trading firm Alameda Research. That amount is even more astonishing when compared to the remunerations received by other executives like Caroline Ellison, the Alameda Research ex-CEO, who only posted approximately…
On Tuesday afternoon, Bitcoin crossed the $26,000 mark for the first since last Summer following the latest CPI report that indicated inflation in the United States was still alive. The Bureau of Labor Statistics reported Tuesday that the Consumer Price Index (CPI) increased 6.5% in the last 12 months. The report aligned with the expectations…
According to an HSBC UK filing dated March 13, the company has completed the Silicon Valley Bank’s UK branch purchase for $1.21. The acquisition means customers of the British branch of Silicon Valley Bank are now allowed to continue banking as usual. HSBC Group CEO Noel Quinn told the bank’s depositors not to worry about…
US Senate members demand answers from Gensler of the SEC regarding “regulatory failures”. G. Gensler and the U.S. have long been targets of Republican Senator Tom Emmer’s criticism. Control over cryptocurrency by the Securities Exchange Commission. Tom Emmer, a member of the Senate, has attacked the U. S. G. Gensler, the chairman of the SEC…
The Australian state reserve banking company has not suggested any usage situations for the eAUD pilot program, despite getting a ton of proposals from the business community. The Australian main crypto-related banking corporation’s testing plan has got over one hundred and forty usage examples from the finance-related industry on how to regulate crypto, but the…
For organization-based traders and stakeholders looking for a way to enter the cryptocurrency system, two huge businesses will create solutions. Given that the cryptocurrency crisis is decelerating the sector’s development, the two companies, both of which are centered around crypto-related assets, are going to join forces to speed up institutional widespread and usage of digital…
Even the Spanish regulator (CNMV) has become too much concerned about the FTX’s collapse and weighing on the potential risk, CNMV has warned Spanish investors to be extra careful about crypto trading. CNMV’s VP suggested that FTX was an unruly horse and therefore the collapse was inevitable. Spanish Regulator’s Concerns for Investors Comisión Nacional del…
On November 28, the officials at BlockFi made an announcement that many had expected them to make a week back. BlockFi announced that it had filed for bankruptcy citing a financial crisis. BlockFi Went Bankrupt The executives at BlockFi have confirmed that they have filed for bankruptcy. They have decided to go for Chapter 11…
Even after so many days have passed, the FTX debacle continues to haunt the entire cryptocurrency industry. The impact of the FTX exchange’s crash has spread throughout the crypto-verse. Investors from all over the world connected directly and indirectly with the FTX exchange have been left devastated. This is something that the regulators do not…
The largest private bank based in Latin America and Brazil, Itau Unibanco has made an announcement pertaining to its recent exploration. The banking firm has announced that it is planning to take a step further into cryptocurrency adoption. The bank is aiming to offer more services and products to clients that are crypto-related. Itau Unibanco…
An investigation has been launched by the financial watchdog in Turkey into the collapsed crypto exchange FTX. The agency tackles all money-related crimes in the country and days after FTX filed for bankruptcy in the US, the department disclosed that it had been keeping track of the platform’s operations in Turkey. FTX investigation Ankara’s Ministry…
Elizabeth Rossiello, the chief executive and founder of AZA Finance, a payments firm based in Africa, said that her company had been incorrectly included in the Chapter 11 bankruptcy filing of the FTX crypto exchange. On November 11th, the CEO insisted that the beleaguered exchange had made a mistake because her company does not have…
It has been almost an entire week since the FTX fiasco took place. Unfortunately, the impact of the FTX crash is still being felt throughout the cryptocurrency. There does not seem to be any end to the constant market downtrend that the FTX crash has triggered. The recent crash has prompted investors to move their…
Last Thursday, the Securities Commission of the Bahamas issued an order for freezing the assets of the FTX crypto exchange. The agency announced that it had decided to freeze the assets of the embattled crypto exchange, along with those of related parties. It also disclosed that the operation registration of the company had also been…
The officials at two major stablecoin issuers have made major announcements for the entire crypto-verse. Paxos and Circle, two major issuers of stablecoins have announced they have regulatory approval in Singapore. Paxos and Circle Gain Regulatory Approvals As per the officials from Paxos and Circle, they have now operating licenses in Singapore. The Monetary Authority…
Hungary’s Blockchain Coalition and the Thai Fintech Association have partnered up to introduce new blockchain technologies to their respective finance sectors. Both parties signed a Memorandum of Understanding at the first edition of a major Fintech event. According to the Bangkok Post, both parties attended the Thai-Hungarian Fintech Forum. The event aims for both countries…
It has been a while since when the electronic payment giant Visa Inc. has been overstretching its efforts in adopting blockchain and digital currencies. In its recent initiatives, Visa has filed two separate applications before the trademark authority namely United States Patent & Trademark Office (USPTO). One of the attorneys of USPTO, Mike Kondoudis, tweeted…
The National Power Administration in Paraguay has warned that the stability of the power system in the country could suffer due to the growth of illegal bitcoin mining operations. The country is currently experiencing a boom in bitcoin mining, but this has taken a toll on its power system. This is due to the fact…
The central bank of Kazakhstan is working on developing its own digital currency and it plans to deploy it via BNB chain, which is the blockchain platform of Binance. The chief executive of Binance, Changpeng Zhao was one who announced this decision on social media. Binance is the largest crypto exchange in the world in…
The Public Opinion University Institute recently completed a poll, which discovered that people in El Salvador are still not too keen on the idea of using Bitcoin as a legal tender. The results of the poll showed that almost two-thirds of the population in El Salvador does not have a positive opinion of Bitcoin. It…
The UK is currently looking like one of the biggest crypto hubs worldwide. With its adoption index slowly growing and more people making transactions now than before, it is becoming very obvious that the UK is well on its way to become the biggest crypto country. However, this unprecedented rise in popularity in the UK…
The majority of cryptocurrency investors are glad and love the way the US Securities and Exchange Commission is cracking down on the cryptocurrency industry. The US Securities and Exchange Commission is proving to be very aggressive and strict against cryptocurrency firms and projects. Although the US SEC’s actions are considered very aggressive, the majority of…
Spain, a country in Europe has recently earned itself a major achievement and it is linked with the cryptocurrency industry. The country has earned itself the title of being the third-largest crypto ATM hub. Spain Ranks Third Largest Crypto ATM Hub The network of cryptocurrency ATMs has been expanding throughout the world. However, America and…
Kevin O’Leary has recently made a statement in regard to the Stablecoin Transparency Act (STA) that could prove promising for Bitcoin (BTC). Kevin O’Leary’s Statement Kevin O’Leary, who is O’Shares Investment Advisers’ chairman and the star of the reality show “Shark Tank”, has made a supporting statement for Bitcoin. He talked about Bitcoin (BTC) while…
