Tag Archives: AA News

Coinbase has called for certain modifications to the proposed rule regarding registered investment advisers’ (RIA) obligations to hold client assets at qualified custodians. Even as the United States Securities and Exchange Commission (SEC) deemed Coinbase Custody as a “qualified custodian,” the crypto exchange believes the revised RIA rule makes “unwarranted assumptions about custodial practice.” Revisions Needed The chief legal officer of the San Francisco-based company,...

The lawyers of the American basketball legend – Shaquille O’Neal – reportedly asked a federal court to block a recent summons served regarding his interaction with FTX. They claimed the documents were “tossed” at the front of his moving car: an entirely different version than the one presented by attorney Adam M. Moskowitz who supposedly served the sportsman in his home. Failed investors have claimed that O’Neal and many other celebrities used their popularity to promote the...

Popular peer-to-peer (P2P) marketplace Paxful is back online after shutting down services in April 2023. While the platform was suspended, the Paxful Wallet remained active. Paxful, in a blog post on May 8, announced the resumption of the marketplace a month after the platform closed down. An excerpt from the announcement reads: “We know it has been a difficult time for many of our users, who were understandably surprised by the sudden suspension, however, we are delighted...

Galaxy Digital turned profitable in the first quarter of the year as the markets improved. Its founder and CEO, Michael Novogratz, revealed that the crypto financial services firm ended Q1 2023 with a liquidity position of $814 million. According to an official press release, Galaxy Digital reported $134 million in net income for the same period as compared to a net loss of $288 million in the fourth quarter of 2022. The income was attributed to the gains on digital assets as...

Ordinal inscriptions are on fire. Users are continuously flooding the Bitcoin network with images, video games, and other content. There are now more than 5 million inscriptions. Over the past seven days, the total inscription count has more than doubled from 2.5 million. Ordinals Skyrocket According to data from Dune Analytics, text-based inscriptions, also known as the BRC-20 token standard, accounted for a vast majority of the Bitcoin ordinal inscription. At the time of...

Trending memecoin Pepecoin (PEPE) has plummeted by more than 55% in the last four days after a remarkable performance turned several investors into overnight millionaires.  The memecoin, which jumped to the 45th largest cryptocurrency by market capitalization within three weeks after its launch, began a downward spiral on Friday, May 5, after it was listed for trading on Binance, the world’s largest crypto exchange.  PEPE Drops 55% From ATH At the time of the Binance listing...

America’s largest cryptocurrency exchange Coinbase is considering the United Arab Emirates (UAE) as a potential strategic hub for its international operations. In a Monday blog post, Coinbase’s vice president for international and business development Nana Murugesan disclosed that the exchange is currently in talks with Abu Dhabi Global Market (ADGM) regulators to expand the licensing for the just-launched Coinbase International Exchange. Coinbase to Make UAE a Hub The...

Bitcoin’s blockchain was flooded with volume over the weekend by transactions involving so-called “BRC-20” Ordinals – an emergent standard for issuing fungible tokens on Bitcoin.   The surge caused network fees to skyrocket to the point where transaction fee revenue for miners briefly surpassed the natural block subsidy for the first time since 2017.  Meme Tokens on Bitcoin According to data from Dune Analytics, over 3.7 million BRC-20 Ordinals transactions have already...

One of the leading cryptocurrency exchanges – OKX – intends to open an office in Türkiye in the following months. The company has already interacted with the Turkish market, launching direct deposits and withdrawals in the country’s official currency – TRY. It also put its name among the numerous crypto platforms that sent aid packages to the nation when a devastating earthquake hit it in February. Another Expansion Step OKX’s President – Hong Fang – said the exchange has...

The Prime Minister of Liechtenstein – Daniel Risch – said the local lawmakers plan to enable bitcoin payments for various government services. However, he did not disclose whether the country will adopt the primary cryptocurrency as a legal tender.  Another country that has turned its focus toward BTC is Liechtenstein’s western neighbor – Switzerland – and, more specifically, the city of Lugano. The domestic authorities have developed an infrastructure to make Bitcoin,...