Approximately a year after its implosion, the once-crypto giant has taken another step in trying to recover funds from third parties. In this case, FTX’s legal team has reportedly gone after a previous competitor – Bybit – for cryptocurrencies and cash valued at over $950 million. Bloomberg reported that FTX has already sued Bybit Fintech...Read More
As cryptocurrency adoption increases in Turkey, investors flock to the novel sector for different reasons, including the notion that they could enrich their pockets by trading digital assets. A new survey by the world’s largest crypto exchange, Binance, found that the potential for profits motivates roughly 66% of Turkish investors to trade digital assets. This...Read More
The US Securities and Exchange Commission (SEC) has accused two former CEOs of collapsed California-based tech company Bitwise Industries, of alleged misrepresentation and fraud, which they used to raise funds from unsuspecting investors. The defunct company is not associated with the major crypto asset manager, Bitwise, even though both entities bear identical names. Former Bitwise...Read More
The ProShares Bitcoin Strategy ETF (BITO) – the largest existing Bitcoin ETF in the United States – has absorbed a quarter of a billion dollars worth of flows over the past month. This marks the fund’s second-best-performing month next to its launch date, signaling fierce anticipation over an incoming spot ETF approval. Revival of Futures...Read More
Cryptocurrency exchange Binance has announced the suspension of Russian ruble (RUB) deposits starting from November 15, 2023. This decision by the company comes following its recent announcement regarding the sale of its entire Russian business to CommEX. Binance to Cease Russian Ruble Deposits In a November 10 announcement, Binance said it would be stopping Russian...Read More
Over 175 different tokens with valuations exceeding $10,000 were stolen as part of a massive hack against the U.S.-based crypto exchange Poloniex on Friday, according to on-chain data. Since earlier today, estimates of the funds stolen in the hack have expanded to $125 million. What Hackers Took From Poloniex According to an X post from...Read More
In a move aimed at preserving the autonomy of cryptocurrency users and safeguarding their ability to self-custody digital assets, U.S. Senator Ted Budd (R-NC) has introduced the Keep Your Coins Act. This legislative proposal, which came after last year’s FTX exchange collapse, seeks to protect individuals’ rights to conduct cryptocurrency transactions without relying on third-party...Read More
Stablecoin issuer and fintech firm Circle has announced the launch of a new v2.2 upgrade to USDC and EURC. It is aimed at significantly reducing gas costs, improving support for account abstraction, and further strengthening transaction security on EVM blockchains. This phased rollout is expected to be completed over the next few months. The USDC...Read More
Amidst broader market recovery, Ethereum gas fees have surged yet again as a result of increased demand for blockspace. Bitcoin users experienced a similar ordeal, with average transaction fees spiking to levels not seen since May. While the latest fee frenzy comes in the wake of rising optimism in the market, it also highlighted the...Read More
The Chicago Mercantile Exchange (CME) recently displaced the world’s largest crypto exchange, Binance, becoming the biggest Bitcoin futures exchange. CME’s recent surge in Bitcoin Futures Open Interest has been driven by massive liquidations caused by Bitcoin’s sudden price surge. CME’s Bitcoin Futures OI Swells According to Coinglass data, CME’s number of Bitcoin Futures in Open...Read More
Crypto exchange Poloniex appears to have suffered a breach, with approximately $63 million in various crypto assets being drained out of its hot wallet. Details are thin at the moment, and while Poloniex is yet to release an official statement, it did reveal that the exchange wallet has been disabled for maintenance and will be...Read More
The crypto market anticipates a bullish trend in the next few months, with the upcoming Bitcoin halving. During this period, several altcoins went on solid rallies. One such is MATIC, a Layer-2 Ethereum scaling token, which has observed a noteworthy increase in its price, surpassing the $0.80 threshold for the first time since July 2023....Read More
SafeMoon, a project whose goal was to “safely” moon a token – mostly by preventing holders from cashing out with large fees – plummeted once investors found out that the investment pools were not actually locked as promised within the same month that the project reached a market cap of $5.7 billion. Founders’ Trial Underway...Read More
The New York bankruptcy court has approved Celsius Network’s restructuring plan, effectively enabling the cryptocurrency lending platform to come out of bankruptcy. Meanwhile, the US Securities and Exchange Commission (SEC) still has to greenlight the company’s new bitcoin mining firm. Celsius Exiting Bankruptcy More than one year after filing for Chapter 11 bankruptcy and freezing...Read More
Australian cryptocurrency exchange CoinSpot may have fallen victim to an exploit resulting in the loss of approximately $2 million worth of Ethereum (ETH). Blockchain investigator ZachXBT shed light on the incident through his Telegram channel, raising concerns about the security of the exchange’s hot wallets. ZachXBT Unveils $2 Million CoinSpot Exploit On Nov. 8, ZachXBT...Read More
SBI Holdings, a prominent Japanese financial company, is preparing to launch a $663 million fund supporting Web3, AI, and other fintech startups. The fund is slated to invest in 150-200 companies and is anticipated to begin operations by the current year’s end, as Nikkei Shimbun reported. Japan’s Startup Fund Momentum with Major Backing The SBI...Read More
Cathie Wood has announced that Ark Invest will collaborate with 21Shares to introduce a new suite of innovative exchange-traded funds (ETFs). These ETFs are designed to provide investors with diversified exposure to digital assets, including Bitcoin and Ethereum futures contracts and investments in blockchain-related companies. Ark Invest Unveils New Suite of Digital Asset ETFs Cathie...Read More
SC Ventures, the investment division of Standard Chartered Bank, and SBI Holdings, the Japanese financial conglomerate, have joined forces to establish a $100 million cryptocurrency initiative in the United Arab Emirates. The new vehicle, dubbed Digital Asset Joint Venture, will focus on companies involved in market infrastructure, risk and compliance, decentralized finance (DeFi), and tokenization....Read More
The Solana (SOL) price has shown resilience in the past five days after a remarkable surge, almost reaching $47. Despite recovering from the bear market, a looming challenge comes in the form of potential sell pressure from substantial FTX holdings. The cryptocurrency market is treading cautiously as Solana (SOL) approaches a critical juncture. Analysts are...Read More
Consistent, diligent Bitcoin (BTC) buyers who have stacked sats for two years have greatly outperformed investors in other asset classes – despite entering the crypto market at one of the worst possible times. As of Thursday, dollar cost averaging Bitcoin since November 10, 2021, has put buyers 40% in the green. Bitcoin DCA Is The...Read More
BlackRock may be preparing to launch a spot Ethereum (ETH) ETF amid roaring confidence that its spot Bitcoin (BTC) ETF application is all but certain, a new company registration suggests. The price of ETH has soared 8% on the day to $2,020. As shown by @SummersThings on Twitter, BlackRock registered a corporation named the “iShares...Read More
In a recent interview with WSJ, Munger compared the cryptocurrency industry to a dirty prank. In his latest comments deriding the asset class, the Berkshire don called the blockchain industry a “stinkball” in finance. Charlie Munger Blasts Crypto ‘Stinkball’ Charlie Munger’s extended remarks on cryptocurrency for the interview with WSJ’s Karen Langley did give crypto...Read More
The SEC has a brief window on November 9 to potentially approve all 12 spot Bitcoin ETF applicants in the U.S. This opportunity will last at least eight days. The United States Securities and Exchange Commission (SEC) may approve all 12 pending spot Bitcoin exchange-traded fund (ETF) applications within this timeframe. Bloomberg ETF analysts James...Read More
With the next Bitcoin halving event less than five months away, long-term BTC holders have remained bullish, refusing to let go of their assets. According to a weekly report from on-chain market intelligence platform Glassnode, several measures of Bitcoin supply, such as HODLed, long-term holder, and illiquid, are at historical highs, with the crypto asset...Read More
Nearly two months ago, Dubai-based crypto exchange platform JPEX decided to “wind down operations” after Hong Kong regulators took notice of their activities. Immediate Fallout At the time, JPEX’s Earn program was singled out by authorities as a major point of contention with the platform. Things took a wild turn from there, as the exchange...Read More
In an interesting X post from earlier this week, former SEC Chief John Reed Stark (Office of Internet Enforcement) issued a scathing rebuke of the SEC for its treatment of Ripple Labs in a years-long XRP lawsuit. Prediction: Expect a Big Win for the SEC in the SEC/Terra Litigation and a Gracious (Yet Scathing) Rebuke...Read More
British financial giant – HSBC – has announced plans to roll out a new digital assets custody service for institutional clients who invest in tokenized securities. HSBC, one of the world’s largest global custodians covering more than 90 markets, has partnered with Ripple-owned Metaco, which is an institutional digital asset custody, trading, and DeFi firm...Read More
Switzerland-based crypto-focused financial institution SEBA Bank has secured a regulatory license from Hong Kong regulators through its local wholly-owned subsidiary, enabling the entity to offer regulated cryptocurrency services to institutional investors in the city-state. The full license comes three months after SEBA received in-principle approval from the Hong Kong regulators and nearly a year after...Read More
Ripple is partnering with payments fintech Onafriq, formerly known as MFS Africa, to facilitate digital asset-enabled cross-border payments connecting Africa to several new markets, such as the Gulf Cooperation Council (GCC), the UK, and Australia. The collaboration is expected to introduce quicker, more effective, and economical global money transfers to Africa, with the potential to...Read More
Stablecoin issuer Circle is looking into the possibility of becoming a publicly traded company in the early months of 2024. The development comes almost a year after its failed SPAC deal with Concord. Despite the collapse of this particular deal, Circle’s co-founder and CEO, Jeremy Allaire, later emphasized the company still planned to become a...Read More
