The cryptocurrency market and the exchange will benefit from Binance’s settlement with the US government, JPMorgan (JPM) stated in a recent research report. The exchange’s agreement “would see significant reduction of a potential systemic risk emanating from a hypothetical Binance collapse,” the report stated, with implications for the larger market. Additionally, according to analysts led

According to a statement on the judiciary’s website, a court in Podgorica, the capital of Montenegro, has authorised the extradition of Terra founder Do Kwon to either South Korea or the US. Kwon was detained in the nation in March after being discovered in the airport of Podgorica in possession of forged documents. According to

On-chain data gathered by CryptoQuant indicates that Bitcoin (BTC) is moving from Binance to Coinbase.According to a recent note from the research firm, Coinbase has seen a rise in reserves of approximately 12,000 BTC, while Binance has seen a reduction of 5,000 BTC. “The decrease in Bitcoin reserves on Binance appears to be due to retail outflows,” Bradley Park, a Web 3 analyst at CryptoQuant wrote to CoinDesk in a note. “The market is still nervous about the recent legal implications against Binance,” Greta Yuan, head of research at Hong Kong-based digital-asset platform VDX said in a

The Korea Times said on Thursday that South Korea will begin a pilot programme for a central bank digital currency (CBDC) in the first quarter of 2019. The programme will involve 100,000 residents. According to the article, the Bank of Korea (BOK) and financial authorities Financial Supervisory Service (FSS) and Financial Services Commission (FSC) will

Administrators of the decentralised exchange (DEX) KyberSwap are recommending users to take all of their money out as a precaution since the exploiter claims that talks will soon start. The DEX has been under attack for around $50 million. According to on-chain statistics, the attacker is mostly taking money in USDC, wETH, and ether. Additionally,

Retail customers will have access to cryptocurrency trading services by the end of January 2024, according to Raiffeisen Bank International in Austria. With the help of cryptocurrency exchange Bitpanda, which earlier this year signed a letter of intent with the bank, the 97-year-old bank will initially offer the service to its customers in Vienna, where

According to broker Bernstein’s research report published on Wednesday, Binance remains the world’s most popular cryptocurrency exchange, with $67 billion in customer funds under custody. Although minor outflows of less than $1 billion occurred after the news of the settlement with the US government broke, there was no significant public panic. “Binance’s reputation with retail non-U.S. customers has remained strong through the crisis,” analysts led by Gautam Chhugani wrote. Although Bernstein notes that Binance will continue to be a “material entity in non-U.S. markets,” it anticipates more competition from new exchanges in regulated jurisdictions like Singapore and Hong Kong as well as from listed rival Coinbase (COIN). According to Bernstein, the cryptocurrency exchange has enough money to pay the $4.3 billion fine and continue running its business profitably. “Binance’s complete exit from the U.S would mean continued dominance of onshore and incumbent exchanges in the U.S.,” the authors wrote pointing out that exchanges like Coinbase are already providing prime broking and custody services to asset managers that have submitted exchange-traded fund (ETF) applications. “In our view, this is the final straw before the establishment feels

The market fell as a result of Binance’s settlement with the U.S. Securities and Exchange Commission (SEC) over several charges; futures traders who were betting on further growth were most affected. Data from CoinGlass show, exchanges have liquidated crypto perpetual futures positions worth $227 million in the past 24 hours. Bullish longs accounted for nearly

Consulting behemoth KPMG Canada is teaming up with blockchain analytics startup Chainalysis to support businesses in combating the ever-increasing threat of fraud and illegal activity in the digital assets space. According to a statement released on Wednesday, KPMG hopes to help its clients with advanced blockchain monitoring, support, governance, and risk management through this partnership.

According to a recent court filing, cryptocurrency lender Genesis Global Capital has sued cryptocurrency exchange Gemini Trust, its former business partner, in an attempt to recoup more than $689 million. On behalf of other creditors, it claims that Gemini transferred preferentially “aggregate gross amount of no less than approximately $689,302,000” from Genesis, and the company

The cryptocurrency miner Phoenix Group (PHX) said that it had 33 times oversubscribed when it finished its IPO on the Abu Dhabi Securities Exchange (ADX).With a goal of raising 1.36 billion dirhams ($368 million), the UAE-based company said last week that it was offering 907,323,529 shares at 1.50 dirhams a share, giving investors 17.64% of the business. Phoenix Group provides cloud-based hosting services as well as a hashrate rental program for customers interested in mining.Additionally, it operates a cryptocurrency exchange named M2, which is fueled by MMX, a native Ethereum token.Dubai and Abu Dhabi both boast frameworks that offer clear advice on the treatment of various asset kinds and which activities are permitted and forbidden, making the UAE one of the most sophisticated jurisdictions when it comes to providing regulatory clarity around digital assets.Companies may have an edge when pursuing investment due to the clarity of the law. Regarding the legislative framework pertaining to digital assets, the United Arab Emirates (UAE) is one of the most progressive countries. Both Dubai and Abu Dhabi have frameworks that clearly define how various asset types should be treated and what kinds of activities are allowed and not.When corporations are wooing investment, the legal clarity may provide an edge. According to the corporation, professional investors made contributions to a 22-fold oversubscription, while retail investors oversubscribed 180 times.The shares are expected to go on sale on December 4.

A legal dispute in London’s High Court revolves around deposits made by stablecoin issuer Tether with a financial services firm totaling more than $1 billion, as the Financial Times revealed on Tuesday. The report, which referenced documents submitted to the High Court, stated that Tether deposited the money with a division of investment bank Britannia

In a recent announcement, the cryptocurrency exchange Bittrex Global stated that it is closing down operations shortly after closing its U.S. arm. The platform’s trading will cease on December 4; customers are advised to finish “all necessary transactions” by that date, as only withdrawals will be permitted thereafter. Bermuda and Lichtenstein-regulated exchange did not provide

According to a recent announcement, Canada’s Office of the Superintendent of Financial Institutions (OSFI) is looking for input on the disclosure requirements for regional banks and insurers that deal with cryptocurrency. The Basel Committee on Banking Supervision (BCBS), an international body that sets standards, is conducting another consultation on the same topic that complements this

CoinDesk was acquired by cryptocurrency exchange Bullish, according to a Wall Street Journal (WSJ) story published on Monday. According to the Journal, Bullish, which is led by former NYSE President Tom Farley, acquired all of CoinDesk from cryptocurrency-focused investor Digital Currency Group (DCG) in an all-cash transaction. The deal’s financial details were kept a secret.

According to an internal announcement, Santander Private Banking International, a division of the massive Spanish financial services company Banco Santander, is providing high-net-worth clients with Swiss accounts with the opportunity to trade and invest in the two major cryptocurrencies, ether (ETH) and bitcoin (BTC). The announcement stated that Santander will provide more cryptocurrencies that satisfy

An announcement on Monday stated that Osaka Digital Exchange (ODX) will launch its new digital securities trading platform on December 25. ODX, a group of influential Japanese players in traditional finance, including SBI Holdings and Sumitomo Mitsui Financial Group (SMFG), was founded in 2021 with the intention of establishing a digital stock exchange. Starting on

Since Sam Altman was fired as CEO of OpenAI on November 17, at least three senior researchers have left the company. Following the sudden resignation of its founder, Sam Altman, on November 17, there has been an increasing amount of turmoil at OpenAI, as three senior researchers have reportedly left the artificial intelligence company. In

A cybersecurity expert publicly supported Senator Elizabeth Warren’s Digital Asset Anti-Money Laundering legislation during a recent U.S. Senate hearing. Senator Elizabeth Warren of the United States has drawn attention to the dangers of cryptocurrency scams that prey on elderly Americans, and a cybersecurity specialist has endorsed her legislation on digital assets to thwart such schemes

Prosecutors claim that Lee Jeong-hoon planned to restructure Bithumb’s management in order to profit from exchange coins while dodging financial laws. The former chair of Bithumb, a significant cryptocurrency exchange in South Korea, Lee Jeong-hoon, is embroiled in a legal dispute that could result in an eight-year prison sentence; a verdict is expected on January

Dogecoin (DOGE) futures saw a 40% increase in a crucial statistic over the course of the last day, suggesting that traders are taking more risks. This metric has traditionally indicated local price peaks in cryptocurrency markets.The quantity of unfilled futures bets, or open interest, surged to above 7 billion DOGE tokens on Friday, surpassing records established in April.about current prices, these positions are valued about $600 million. With $275 million worth of futures holdings, Binance has over half of the bets, followed by Bybit with $134 million and OKX with $85 million.Given that the long-to-short ratio is 50% on both sides, it is possible that traders have hedged every wager.In general, rising open interest indicates a bullish inclination among futures traders.On the other hand, if it suddenly surges or grows excessively high, traders may be building short positions, which could be a negative warning of an impending change in market patterns.In comparison to the rest of the market, the rise in DOGE open interest is unusual.There was a 5% decline in futures that tracked popular tokens like ether (ETH) and bitcoin (BTC). The news of a space payload mission by Pittsburgh-based company Astrobotic to deliver a tangible dogecoin token to the moon in December caused DOGE values to soar by more than 12% on Thursday.Furthermore, some traders claim that abrupt increases in meme coins like DOGE are typically negative occurrences that signal increased risk-taking and the conclusion of a larger cryptocurrency rise.

The head of Mastercard’s blockchain and digital assets for Asia-Pacific told CNBC that since consumers are so at ease with modern money, there is no need for central bank digital currencies (CBDCs). “Adoption is the difficult part,” stated Ashok Venkateshwaran on Wednesday, outside of the FinTech festival in Singapore. “So if you have CBDCs in

On Friday, the International Organisation of Securities Commission released its eagerly anticipated recommendations for cryptocurrency regulation. The global standards-setting body for securities markets regulation, IOSCO, started taking comments on regulations for the cryptocurrency industry in May. These regulations covered topics like market manipulation, conflicts of interest, safeguarding client assets, disclosures, and potential hazards. According to

Both Near Protocol’s NEAR and Avalanche’s native token AVAX maintained their strong starts on Friday while the overall market pared its gains from earlier in the week, following the lead from stocks. As of press time, AVAX had gained 8.2% over the previous 24 hours, while NEAR was up 6%. In the meantime, ether has

In a space payload mission envisioned by Pittsburgh-based company Astrobotic, a physical Dogecoin (DOGE) token may make it to Earth’s moon, the Dogecoin developers announced in an X post on Thursday. “Astrobotic plans to send a physical Dogecoin to the moon in the DHL Moonbox via ULA’s Vulcan Centaur Rocket on 12/23/2023,” Dogecoin developers said. “Funded by our community in 2015.” NASA’s Commercial Lunar Payload Services (CLPS) program, together with 21 payloads (cargo) from businesses, governments, and universities are being transported by Astrobotic’s Peregrine Mission One (PM1). As part of a plan unveiled in May by cryptocurrency exchange BitMEX, the same mission is also intended to carry a real bitcoin token.Additionally, a copy of the Genesis Block—the first block of bitcoin (BTC) to be mined—will be included, as it was ordered by Bitcoin Magazine. The last attempt by Dogecoin to reach the moon was a 2022 plan for a SpaceX trip that would be fully financed using DOGE tokens.At the time of its commissioning, the Canadian business Geometric Energy Corp. claimed that the mission was the first commercial lunar payload in history to be fully funded by DOGE.The mission was delayed, nevertheless, and its new launch date is January 2024. In the meantime, DOGE prices have increased by 12% over the last day along with a more general rise in key

According to an email from the Virtual Assets Regulatory Authority (VARA), Matthew White, a partner at PwC, will take over as CEO of Dubai’s cryptocurrency regulator, replacing Henson Orser.Citing a statement from the agency, Bloomberg first announced the adjustment.Bloomberg reported, citing anonymous sources who asked not to be identified because the subject is confidential, that over 12 cryptocurrency companies would also be punished for failing to comply with standards by a deadline of Nov. 17.The report states that certain companies, including as Binance, OKX, and ByBit, will be granted additional time to comply, although the identities of the firms were not disclosed.VARA made no mention of the fines in its email. Orser has been in charge of the Virtual Assets Regulatory Authority since January.According to VARA, he will stay completely committed for a “planned transition” as a consultant. “It was a great experience and I’m fully vested in a consultative capacity to support VARA,” Orser said to Bloomberg. “I’m leaving to pursue other interests.”  White has led the PwC cybersecurity and digital trust team and served as a consultant for VARA in the past.Dubai has punished cryptocurrency bankruptcy claims exchange OPNX and its owners, who also founded the defunct hedge fund Three Arrows Capital (3AC), in recent weeks. Additionally, regulatory permissions have been given to Crypto.com, Komainu, a cryptocurrency custody service funded by Nomura, and Hex Trust, another custody firm.

Legislators from both parties in the United States have asked the Treasury to amend the plan for taxes on digital assets. The group supports attorneys and representatives of the cryptocurrency industry who have referred to the proposed tax plan as “dangerous and improper overreach.” Congressman Ritchie Torres (D-N.Y.) and House Financial Services Committee Chairman Patrick