Tag Archives: social

Belgium’s financial regulator does not consider crypto-assets such as Bitcoin (BTC) and Ethereum (ETH) to be securities. The Financial Services and Markets Authority (FSMA) released a statement in which it said cryptocurrencies that are issued solely by computer code do not constitute securities. The regulator’s response comes after receiving an increasing number of questions about the application of financial rules on the asset class. Win for BTC, ETH With a prominent...

The past week was somewhat positive for the entire cryptocurrency market, both in terms of pricing and overall developments. While the meltdown of FTX looms over the industry and most market participants are still afraid of contagion, the total capitalization added over $10 billion amid ongoing developments. First things first, this week’s overall increase doesn’t come on the back of Bitcoin, which is actually down about 1% over the period. The cryptocurrency attempted a push...

The FTX implosion may have dented investor confidence and extended the crypto winter, but that does not appear to be a hurdle for many exchanges from pursuing expansion via mergers and acquisitions. One such is – CrossTower – a crypto exchange that is reportedly considering new acquisitions of different types of companies with a good set of customers with them and a positive balance sheet. Risk Appetite for Acquisitions CrossTower’s CEO Kapil Rathi said investors are...

The lower chamber of Russia’s parliament – State Duma – has reportedly started working on a draft bill that could aid the creation of a “national crypto exchange.”  The platform needs the approval of the country’s central bank and the Ministry of Finance. The Bank of Russia has previously shown its negative stance on the digital asset industry. Russia’s Potential Crypto Move According to a recent local report, the State Duma plans to make certain amendments to the existing...

In a new press release, the Securities Commission of The Bahamas explained that only placing FTX Digital Markets into liquidation was not sufficient, citing the risks associated with hacking and breach. SCB Executive Director also lashed out at new FTX CEO John Jay Ray III for “misrepresenting” the agency’s action through the “intemperate” and “inaccurate” allegations. Bahamas Regulator’s Statement Its Executive Director, Christina Rolle, revealed that the Commission sought...

As events continue to unfold in the wake of FTX’s collapse, some of the funds missing from the exchange’s accounts have been found and secured. Shortly after its sudden downfall, FTX hired digital asset custodial company BitGo to handle its accounts and assets. Now, the custodial firm has recovered crypto assets worth over $700 million for the exchange. $740M in Crypto Recovered From FTX According to a Wednesday filing at the United States Bankruptcy Court for the District of...

Despite the FTX meltdown and the consecutive decline of the cryptocurrency market, the Founder and CEO of Ark Invest – Cathie Wood – stands by her prediction that bitcoin will skyrocket to $1 million by 2030. She also seems unfazed by the price crash of Grayscale’s Bitcoin Trust (GBTC) since her company purchased additional 176,945 shares. BTC Bull Regardless of the Reality The shocking collapse of the crypto exchange FTX deepened the problems in the crypto sector and...

Digital Currency Group’s subsidiary and crypto mining firm Foundry Digital plans to acquire two turnkey crypto mining facilities in the United States from the embattled Bitcoin miner Compute North. In the latest press release, Foundry also said it would also acquire other assets in addition to an option to buy a third facility that is under development from the computing infrastructure company. Acquisition Details Foundry will buy Compute North’s North Sioux City, SD, and Big...

The Estonian police arrested two individuals in the country’s capital Tallinn for their alleged involvement in a $575 million cryptocurrency scam. According to the prosecution, Sergei Potapenko and Ivan Turõgin lured hundreds of thousands of victims to interact with a dubious digital asset mining service and to invest in a virtual currency bank. The entities did not pay the promised dividends to the people, while the criminals pocketed the funds. Another Multi-Million Crypto...

Alexey Pertsev – developer of the cryptocurrency mixer Tornado Cash – will reportedly remain in jail until late February 2023. The Dutch Crime Agency (FIOD) arrested the man in August this year after the US Treasury Department previously sanctioned Tornado Cash for enabling money-laundering procedures. According to a recent CoinDesk coverage, Pertsev will stay in prison until at least February 20, 2023. The Dutch authorities were supposed to release the Russian software...