Crypto news

[unable to retrieve full-text content]CoinspeakerSouth Korean Authorities Arrest Bitsonic CEO for $7.5M Theft Bitsonic CEO and its President have been accused of stealing users funds through the exchange and moving them to a shell company in Singapore. South Korean Authorities Arrest Bitsonic CEO for $7.5M Theft

[unable to retrieve full-text content]CoinspeakerCoinbase Explores New York’s Crypto Adoption in ‘United States of Crypto’ Series In addition to the thriving blockchain ecosystem in New York, the report also casts a spotlight on the state's captivating fusion of fashion and blockchain technology.  Coinbase Explores New York’s Crypto Adoption in ‘United States of Crypto’ Series

[unable to retrieve full-text content]CoinspeakerBinance Becomes Fully Licensed Crypto Exchange in El Salvador With its services now fully authorized in El Salvador, Binance has achieved its 18th regulatory approval, solidifying its position as the exchange with the most licenses and registrations worldwide. Binance Becomes Fully Licensed Crypto Exchange in El Salvador

The leading cryptocurrency exchange Blockchain.com received a payment institution (MPI) license from the Monetary Authority of Singapore (MAS).  This marks the company’s second license in the city-state after the in-principle approval secured in September 2022. Blockchain.com announced that its recently-obtained authorization in Singapore follows the entity’s strategy to comply with regulators in every region where it conducts business. The team behind the exchange said the...

Big Three credit rating agency Moody’s has downgraded numerous regional banks in the United States due to weak earnings last quarter and sizable unrealized losses, according to the firm’s Monday note. Meanwhile, banking giants including Bank of New York Mellon (BK.N), US Bancorp (USB.N), State Street (STT.N) and Truist Financial (TFC.N) have been placed on review for potential downgrades. Stress in the Banking Sector As reported by Reuters on Tuesday, Moody’s note highlighted...

Stablecoin issuer Circle is a US-based company, and 70% of its USDC adoption originates from non-US regions. According to the estimations of Circle CEO Jeremy Allaire, some of the fastest growing areas are emerging and developing markets, which are not in the country that has been facing severe regulatory uncertainty. Not Fixated on US Allaire took to X (formerly Twitter) to reveal observing “strong progress” across Asia, LATAM, and Africa, highlighting the demand for “safe,...

Estonian crypto-payments service provider CoinsPaid found that the notorious hacking group Lazarus spent six months tracking and studying the platform before finally attacking on July 22nd. ConsPaid collaborated with cybersecurity firm Match Systems to track the perpetrators’ steps minute by minute, as well as identify what services and platforms were used to launder the funds. In a press release shared with CryptoPotato, the platform said that Lazarus Group spent half a year...

Cypher Protocol, a Solana-based futures DEX, has been forced to pause its smart contract in the wake of an exploit that resulted in a loss of more than $1 million. The Why Late last night, Cypher’s devs announced that they had suffered a “security incident”, resulting in the need to pause their smart contract until a post-mortem was carried out. An appeal to the hacker was also made, promising a discussion on the next steps should the bad actor care to reply. Cypher has has...

Japan just established a whole new level of clarity to its crypto tax agenda. Up to this point, all unrealized gains from crypto assets were subjected to the country’s present 30 percent corporate tax rate, though now, it appears this is coming to an end. Japan is Putting an End to Some Crypto Taxation The news came from Japan’s National Tax Agency (NTA). The agency explained in a statement that crypto assets will be excluded from any company’s asset valuation...

Bitstamp – the world’s longest-running cryptocurrency exchange – is currently engaged in discussions to secure new capital to ramp up its operations. The revelation was made by Jean-Baptiste Graftieaux, Bitstamp’s global chief executive officer. Besides focusing on raising capital to expand the services to retail and institutional crypto clients, Bitstamp also plans on diving into the derivatives space. Bitstamp Fundraise The fundraising process was initiated in late June,...