Crypto news

Jeffrey Sprecher – CEO of Intercontinental Exchange Inc (ICE) – said watchdogs should regulate most cryptocurrencies as securities. Gary Gensler – Chairman of the US SEC – also classified the majority of digital assets as securities, meaning they should fall under his agency’s jurisdiction. ‘Exchanges Will be Separated From the Brokers’ Sprecher thinks the FTX collapse has shown that most cryptocurrencies should be classified as securities, or in other words, fall in the same...

Nonfungible Token (NFT) sales are still in the gutter since their boom in popularity last year – and FTX’s bankruptcy has done nothing to help their prospects.  Weeks after the exchange’s collapse, NFT volumes have plummeted to a 16-month low. According to data provided by Dappradar, NFT trading activity hasn’t seen such lows since July 2021, when OpenSea – the world’s largest NFT marketplace – was the only major trading venue in town.  Volumes soared close to $4 billion in...

The infamous Canadian investor and Shark Tank star Kevin O’Leary spoke further about FTX’s collapse on Thursday, revealing the exact amount of money FTX paid him to promote their brand.  He also broke down how much money he lost within the exchange, and what the investor mentality surrounding the company was like prior to its collapse.  Kevin O’Leary’s FTX Deal In conversation with CNBC on Thursday, O’Leary explained that institutional interest in FTX US equity was incredibly...

Users of the Alameda-backed Ren Protocol risk losing their money if they don’t take immediate action, warned the project team over Twitter on Thursday. The cross-chain bridge said the upcoming upgrade (Ren 2.0) to its existing product (Ren 1.0) may not be compatible with the prior version.  Disconnecting From Alameda Ren encouraged users to quickly burn tokens issued by their bridge service in return for their underlying assets or to “risk losing them,” as a result of the...

Hong Kong’s legislative council has added a new amendment to the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 to accommodate the cryptocurrency industry. The legislation will essentially introduce a licensing regime for virtual asset service providers (VASPs). Hong Kong’s Licensing For VASPs Under the new additions, VASPs seeking to start operations in the region will have to undergo a licensing procedure complying with AML guidelines and...

Financial service behemoth PayPal has announced expanding its crypto service to Luxembourg soon in its first foray into the European Union (EU). According to an update shared by the company, the service will be made available in the “coming days,” following which eligible customers will be able to buy, sell and hold crypto-assets in their PayPal accounts via the website or the mobile app. Initially, support will be rolled out for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC),...

The FTX meltdown may have laid the groundwork for an unprecedented shift in user activity from centralized finance (CeFi) to decentralized finance (DeFi), but the total value locked in the services provided by the latter has taken a serious hit. A new report by Dapp Radar suggested that the non-fungible token (NFT) market has not been spared by the downtrend either. DeFi, and NFT Winter Typically considered a potential antidote to the collapse, the total value locked across...

A Dallas man and the digital currency company he created are in hot water after being charged with defrauding a financial program introduced during the COVID era that was designed to keep businesses afloat. Crypto Company Fraud Thanks to COVID John Corbin Corona, age 35, was indicted in mid-November on counts of both money laundering and wire fraud for allegedly inflating the size of his cryptocurrency business – HODL LLC – to garner extra funds through the PPP (Paycheck Protection Program)...

[PR – London, United Kingdom, 8th December, 2022, Chainwire] Metacade, the first-ever community-developed play-to-earn (P2E) blockchain arcade, has announced the launch of its highly anticipated $MCADE token presale. The sale of Metacade’s native utility token sold over an incredible $670k in under 2 weeks, with their Beta Sale stage now over 60% SOLD OUT. $MCADE is available to buy on the official Metacade website. Positioning itself as a Web3 community hub, this...

[PR – Southington, United States, 7th December, 2022, Chainwire] Bulls & Apes Project LLC (B.A.P.) introduces Community Tokenization, an industry-changing initiative. B.A.P., a web3 company with a vision to create a world of infinite opportunities, launched its inaugural collection on May 31, featuring an industry-first 6-Month ETH-Back Guarantee, and has defied bear market conditions by continually delivering value and building a robust community. Many NFT projects...