Tag Archives: News

Crypto exchange FTX is reportedly in talks to buy Bithumb. The legal issues connected to its former chairman will, however, hinder any possible sale.According to reports, Lee Jung-hoon, the de facto owner of the South Korean bitcoin exchange Bithumb, is now facing an 8-year jail sentence.The owner who is also a former chairman of Bithumb Holdings is accused of committing a large-scale fraud worth around 100 billion won ($70 million). Lee was indicted by South Korean prosecutors in July 2021...

Coinbase’s institutional-grade service will allow MakerDAO to earn up to 1.5% of the rewards of the funds.On Monday, October 24, crypto exchange Coinbase announced that the MakerDAO governance has finally voted in favor of the proposal to custody $1.6 billion worth of MarkerDAO’s USD Coin (USDC) treasury.In return, Coinbase’s institutional-grade service will allow the DAO to earn up to 1.5% of the rewards of the funds. This is for the first time that Coinbase is expanding its USDC rewards...

For the World Cup event that will start on November 20 in Qatar, FIFA has named Crypto.com as its official exchange partner while Algorand, a Proof-of-Stake (PoS) blockchain protocol, has been tapped as a blockchain partner for the event.With the FIFA World Cup less than a month away, the fan tokens of National Football teams have been recording a massive slump, signifying sentiments for the countries who have these tokens and will be participating in the Mundial.According to data from the...

WhatsApp says its services have been restored after an outage that impacted millions of its users across the globe.Popular instant messaging platform WhatsApp has restored services following a major outage. On Tuesday, the Meta-owned cross-platform instant messenger suffered a global outage that affected millions of its users. Following a string of user complaints regarding sending and receiving messages, Meta also later confirmed the downtime, saying: “We’re aware that some people are...

Behnam made this remark while speaking at the Regulating Financial Innovation event on October 24, where he added that he thinks Gary Gensler, chair of the SEC, thinks otherwise or at least hasn’t certainly declared one or the other.Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam has reaffirmed that Ethereum, the second-biggest cryptocurrency in the crypto market, is a commodity.Behnam made this remark while speaking at the Regulating Financial Innovation event on October 24,...

The veteran trader is not overly enthusiastic about the prospects of BTC until maybe after 32 months or thereabout.Veteran trader Peter Brandt has given a hint of what to expect of the world’s leading cryptocurrency Bitcoin (BTC) over the next few years. The respected trader spoke on CoinDesk’s “First Mover” program on Monday about the current state of the crypto, and its expected price movement in the next few months, among many other topics.Firstly, Peter Brandt admitted that BTC is...

The lower performance in UBS’s equity derivatives, cash equities, and financing revenue all dragged the investment banking unit to record a 19% slump in its revenues.Swiss multinational investment bank and financial services company UBS Group AG (SWX: UBSG) has posted lower revenue in its third quarter compared to its performance in the year-ago period.The company posted revenue of $8.3 billion as against the $9.1 billion it reported in the year-ago period. UBS said its net income for the...

ARK CEO Cathie Wood recently disclosed that she bought $100,000 worth of Bitcoin at $250 years ago and has never sold it.Cathie Wood recently revealed that she purchased $100,000 worth of Bitcoin (BTC) years ago when it was trading at around $250. The referenced unit price of the popular crypto suggests Wood made the purchase sometime in 2015. Speaking on Peter McCormack’s “What Bitcoin Did” podcast, the ARK Investment CEO disclosed that she has not sold any of that initial investment. This...

The CFTC has been working closely with the SEC to help provide crystal clear cryptocurrency regulations.The cryptocurrency market is getting shaped by global geopolitics. In the United States, the Commodity Futures Trading Commission (CFTC), under Chair Rostin Behnam, has been at the forefront of cryptocurrency industry regulations. However, it has been regarded as a friendlier regulator than the Securities and Exchange Commission (SEC).During a panel discussion hosted by law firm Lowenstein...

Rishi Sunak succeeds Liz Truss to become the next British Prime Minister. The crypto community celebrates Sunak’s pro-crypto stand while serving as the Chancellor in the Boris Johnson government. On Monday, October 24, pro-crypto candidate Rishi Sunak won the race to become the next Prime Minister of the UK. This happened as Boris Johnson and House of Commons leader Penny Mordaunt withdrew from the race.Sunak’s appointment to the office comes within just 7 weeks of Liz Truss becoming the UK...