Tag Archives: AA News

Starting this weekend, the Kraken logo will be exposed to millions of users thanks to the exchange’s partnership with the famous Formula 1 racing team, Williams Racing. On March 28th, Kraken, one of the largest cryptocurrency exchanges worldwide, announced the signing of a sponsorship agreement with Williams Racing, considered one of the four top Formula 1 teams, alongside Ferrari, McLaren, and Mercedes. According to Kraken’s statement, this is the exchange’s first...

Buried in a mountain of charges from the Justice Department, Former FTX CEO Sam Bankman-Fried (SBF) is reportedly paying his legal fees with money gifted to his father that was initially borrowed from his trading firm, Alameda Research.  The multi-million dollar revelation comes after Bankman-Fried claimed in late November that he had just $100,000 left in his bank account.  SBF’s Legal Defense Fund In a report published on Tuesday, Forbes claimed to have received information...

The American actor – Matt Damon – partnered with Crypto.com in 2021 to become the face of its marketing campaign. However, the ad called “Fortune favors the bold” received severe backlash from the community. In a recent interview, he admitted that the exchange distributed $1 million to his charity entity, water.org, which has become his main motive behind the deal. Like many other rivals, Crypto.com launched several marketing efforts during the bull run in 2021. One of its...

The President of the United States – Joe Biden – thinks the turbulence that recently shook the banking sector is not entirely gone. As such, his cabinet is ready to impose further legislative changes to cope with any potential issues in the future. Two of America’s leading banks – Silicon Valley Bank (SVB) and Signature Bank – experienced severe operational issues and were shut down by regulators earlier this month. Major institutions outside the States, including Credit...

A controversial bill to ban the popular social media app TikTok could potentially be used to clamp down on crypto, say legal policy experts at Coin Center. The crypto-focused non-profit claimed that, in extreme cases, the legislation could be used to “block Americans’ access to open source tools or protocols like Bitcoin.” A Silent Attack On Crypto? The Restricting the Emergence of Security Threats that Risk Information and Communications Technology Act (aka RESTRICT Act),...

XRP has been defying the market-wide decline as it continued its impressive recovery for the month. The asset – that is at the center of the Ripple lawsuit brought by the US Securities and Exchange Commission (SEC) – has surged by nearly 13% over the past day alone. XRP Surges to 10-Month High According to data on CoinMarketCap, XRP was currently trading at $0.58, a level not seen since May 2022. The decoupling from the broader market has fetched nearly 60% gains for the...

Walt Disney has knocked metaverse plans off its priority list. The entertainment giant’s “next-generation storytelling and consumer experiences” division had been tasked with exploring metaverse strategies. But now Disney is eliminating the entire division as part of its restructuring map, which entails reducing the headcount by nearly 7,000 across the company over the next two months. Metaverse No Longer a Priority for Disney According to a WSJ report, Disney’s CEO Robert...

Former FTX boss Sam Bankman-Fried (SBF) has been slapped with another lawsuit from the Department of Justice (DOJ) for sending millions of dollars in bribe money to Chinese government officials The department claims that the bribe, worth $40 million, was to induce the government to unfreeze accounts connected to FTX’s sister trading firm, Alameda Research.  SBF Bribing China In an updated, superseding indictment shared Tuesday, the DOJ alleged that SBF “directed and caused...

The United Kingdom has dropped its plans to launch a government-backed non-fungible token (NFT) aimed at enhancing the country’s approach to crypto assets. Andrew Griffith, Economic Secretary of the Treasury, disclosed to Parliament that the Royal Mint, tasked with creating the NFT, would not proceed with the plan but would keep the proposal under review. HM Treasury Cancels NFT Plans Recall that Rishi Sunak, the UK’s Prime Minister and former Chancellor of the Exchequer,...

Seychelles-based crypto exchange OKX has announced its plans to expand its presence in Hong Kong by applying for virtual asset licenses under the new regulatory regime as well as Type 1 and 7 licenses under the Securities and Futures Ordinance. It also plans to establish a Hong Kong entity for launching virtual asset services in the region. OKX’s Hong Kong Expansion According to the official blog post, OKX said it has been working for more than a year to meet Hong Kong’s new...