The most recent news regarding Sam Bankman-Fried, often known as SBF, the founder of FTX, is causing a stir in the cryptocurrency community. SBF has officially requested weekday release from his present detention at the Metropolitan Detention Centre in Brooklyn, New York, in a move that has attracted the attention of the sector. This motion

Based on the cost of household electricity, nine of the ten countries with the lowest mining profits for bitcoins are located in Europe. The cost of electricity for individual Bitcoin miners varies widely across the world. A recent study found that the cost of creating one Bitcoin in Lebanon is about 783 times lower than

The U.S. Securities and Exchange Commission (SEC) requested approval on Friday to appeal a federal judge’s decision that XRP sales through exchanges did not violate securities law, a day after the judge stated the SEC could make its case.The SEC petitioned Judge Analisa Torres of the United States District Court for the Southern District of New York to certify for an interlocutory appeal (meaning an appeal filed before the overall case is resolved) one day after she granted the request.Due to the fact that individual buyers of the asset on an exchange would not have the same expectations as an institutional buyer of XRP directly, the federal regulator is expressly appealing the judge’s decision that Ripple’s programmatic sales of XRP did not breach securities law. “The rulings that the SEC seeks to appeal were legal determinations about the existence of investment contracts based on undisputed facts. The undisputed facts (e.g., Order at 23 (Programmatic Sales are ‘blind bid/ask transactions’)) present a legal question – can an issuer’s offers and sales on crypto asset trading platforms create a reasonable expectation

A paper written for the New Zealand Parliament has suggested a slow, adaptive approach, despite the call for crypto legislation growing louder and louder around the world, and regulation by enforcement being controversial.In 2021, the Finance and Expenditure Committee of the New Zealand House of Representatives ordered a report with the working title “Inquiry into the current and future nature, impact, and risks of cryptocurrencies.” The 99-page study, which was cowritten by a partner at the legal firm MinterEllisonRuddWatts and an associate professor of commercial law at the University of Auckland, took into account feedback from the public that had previously been requested and included 22 suggestions.It adopted a positive stance toward digital assets and blockchain technology in general. The research issued a warning against overly harsh regulations despite issues like volatility, environmental damage, and criminal usage, stating that they would “reduce the viability and competitiveness of such businesses as purchasers increasingly make payments in cryptocurrencies.”It also issued a warning against attempting to regulate too soon.“Creating and implementing an integrated [regulatory] framework would be a complicated endeavour.Based on our understanding, agencies are not resourced or equipped to manage this.” “Instead, we recommend that problems are addressed as they arise. We recommend that the Government and regulators create coherent and consistent guidance on the treatment of digital assets under

It has been authorised for the U.S. Securities and Exchange Commission (SEC) to work with South Korea on its investigation of Terraform Labs and its co-founders, Daniel Shin and Do Kwon. The SEC is now able to interview Shin and get access to Chai Corporation’s records thanks to this ruling, which District Judge Jed Rakoff

Republican presidential candidate Vivek Ramaswamy, according to the CEO of Tesla and SpaceX, is “very promising.” Elon Musk, the chairman and CTO of X (previously Twitter), has praised Vivek Ramaswamy, the up-and-coming Republican contender for president of the United States. Vivek Ramaswamy is the youngest-ever Republican presidential candidate, according to Musk, who commented in response

Globally, central bank digital currencies (CBDCs), also referred to as digital versions of government-backed fiat money, are gaining a lot of interest. According to data from the Bank for International Settlements, 4 retail CBDCs are already fully operational, and 93% of central banks are now engaged in CBDC-related operations. By taking a proactive stance, Mastercard

A sophisticated tool for risk management powered by AI, Feedzai aids in the identification of fraud at the institutional level . Financial fraud is on the rise, with losses of $8.8 billion in 2022 alone. Financial fraud damages rose by 30% between 2021 and 2023, according to the US Federal Trade Commission. Scammers are already

A well-known cryptocurrency lender from Melbourne named Helio Lending got caught up in a legal knot. A non-conviction bond was given to the lender because of its false claims to hold an Australian credit licence (ACL), a crucial licence that demonstrates an institution’s trustworthiness in the financial industry. The Australian Securities and Investments Commission (ASIC),

The renowned aerospace technology company SpaceX is said to have written down the value of its Bitcoin assets by a total of $373 million in 2021 and 2022, according to a Wall Street Journal report from August 17. Although it is still unknown whether all $373 million worth of SpaceX’s Bitcoin was liquidated, the story

Insolvent cryptocurrency lender Celsius will hold a vote on its proposal to sell assets to the Fahrenheit consortium after a judge on Thursday permitted disclosures that suggested creditors should expect to recover 67%-85% of holdings.In a year that has witnessed major turmoil in the cryptocurrency markets and the arrest of former Chief Executive Officer Alex Mashinsky on fraud charges, which he has denied, approval is the last stage in Celsius’s year-long journey out of bankruptcy and the repatriation of assets to customers. In a statement sent via email, Chris Ferraro, the company’s interim CEO, stated that the Chapter 11 bankruptcy case that began in July 2022 and is being overseen by New York Bankruptcy Judge Martin Glenn “remains laser focused on creating the best outcome for customers and creditors and returning value as soon as possible.” Between August 24 and September 22, creditors will receive ballots to vote on the plan, which calls for the transfer of assets to a group that includes Arrington Capital and the miner U.S. Bitcoin Corp.Returns to creditors, which will mostly be made in bitcoin (BTC) and ether (ETH), could range from 67% for individuals with Earn Accounts to 85.6% for those taking part in Celsius’ Borrow Program, as opposed to just 47% for a liquidation of assets, according to court documents. In previous cryptocurrency bankruptcy plans, creditors overwhelmingly approved reorganization proposals.A sale to Binance was favored by 97% of Voyager’s creditors, a crypto lender.US, even if the buyer unexpectedly withdrew after legal snags. Mashinsky was detained in July on suspicion of conspiracy to commit wire fraud, securities fraud, commodities fraud, and conspiring to influence the price of Celsius’ CEL coin.As a result of its cooperation and acceptance of responsibility, the business was not prosecuted. It has also stated that plans to refund consumers’ money won’t be impacted by the Federal Trade Commission’s $4.7 billion punishment.

According to Coinglass statistics, cryptocurrency traders lost $1 billion in liquidations during the past 24 hours as a result of one of the worst sell-offs of the year in the digital asset markets and a two-month low in the price of bitcoin.After falling as low as $25,000 earlier in the day, Bitcoin, the biggest and first cryptocurrency, fell 7% to approximately $26,900, its lowest level since June. According to CoinGlass, traders who had long positions—bet that prices would rise—lost over $821 million during the stampede for the door.The biggest losers were traders of bitcoin (BTC), who endured protracted liquidations totaling $472 million, followed by dealers of ether (ETH), who lost $302 million. According to Coinalyze data, which was collected around the time the price of the most popular cryptocurrency fell to $17,000, this was the highest amount of BTC liquidations for a single day since June 2022.The liquidations took place after cryptocurrency values plunged through the floor on Thursday in U.S. time, turning this month’s gradual decline into a massacre amid uncertainties in the financial markets caused by the devaluation of other currencies, concerns about the Chinese economy, and soaring bond yields.Major cryptocurrencies like BTC and ETH had losses close to double digits, dropping to levels not seen since early summer. Liquidations occur when an exchange shuts a leveraged trading position as a result of a partial or complete loss of the trader’s initial capital, or “margin” – if the trader is unable to meet the margin requirements or does not have sufficient cash to keep the trade open.A cascade of liquidations may begin when asset prices plummet, escalating losses and price decreases.

XRP-related options were introduced by cryptocurrency derivatives exchange BIT The exchange announced the new product in a press release, stating that users will be able to trade XRP options without having to keep the cryptocurrency and that gains and losses will be settled in dollars. The duty of creating order book liquidity falls to institutional

In a press release, the Avalanche Foundation announced that it would provide up to $3 million worth of AVAX tokens to Dexalot, a central order limit book decentralized exchange (DEX) developed on an Avalanche subnet.The project is a component of Avalanche’s Multiverse, a fund with incentives to promote the development of new subnets.Defining its own membership and tokeneomics policies, a subnet is a self-governing network. Through a decentralized on-chain program, Dexalot, a DEX, seeks to imitate the experience of a centralized exchange.With the use of its central limit order book, it hopes to enable users to make orders at precise levels.In February, Dexalot launched its network.Avalanche’s Multiverse funding will be distributed over a 12-month period starting in the fall through the Dexalot incentive program.According to the press release, the monies are conditional and will be given out in line with the subnet reaching new milestones.Concerning the specifics of what the milestones are, the business refuses to say.

Tether, a stablecoin issuer, said that it will stop supporting Omni, a Bitcoin layer that has been used since 2014 for USDT payments.According to the release, Tether will also stop supporting the SLP implementations for Kusama (KSM) and Bitcoin Cash (BCH). The software layer Omni was constructed on top of the Bitcoin blockchain.It was created to provide smart contract functionality to the Bitcoin network, enhancing its benefits. “Over the years, the Omni Layer faced challenges due to the lack of popular tokens and the availability of USDT on other blockchains. This led many exchanges to favor alternative transport layers, leading to a decline in USDT usage on Bitcoin using the Omni Layer,” Tether said in the announcement. According to Tether’s transparency report, it has a market cap of $82 billion and has the largest stablecoin. Of that, $240 million worth of tokens were released on the Omni layer, while $1.4 million and $980,000 worth were issued on Kusama and Bitcoin Cash, respectively. Beginning on August 17, the stablecoin provider will stop releasing USDT on Omni, Kusama, and Bitcoin Cash; however, redemptions will still be accepted for the following 12 months.Tether currently trades at $0.998, down 0.12% in the last 24 hours, according to reports.

To expand its offering to registered investment advisors (RIAs), asset tokenization company Securitize has acquired digital asset wealth platform Onramp Invest.An email notification on Thursday stated that the acquisition is anticipated to close soon and that the specifics of the transaction were not made public.In order to incorporate Securitize goods into its current business, Onramp will operate as a subsidiary of Securitize. The goal of Securitize is to enable RIAs to provide tokenized investments to their clients in alternative asset classes like real estate, private equity, private credit, and secondaries. “Onramp already offered RIAs easy access to digital assets, so it is a very natural extension to offer them tokenized alternative assets to complement their portfolios,” Securitize CEO Carlos Domingo said in a statement. The acquisition may also be a hint of increased startup consolidation in these industries, as traditional markets and digital assets continue to be intertwined. “With technology valuations significantly down and VC investment drying up, there is now a new opportunity for companies

According to a notice posted on Wednesday, Dubai’s Virtual Assets Regulatory Authority (VARA) has fined OPNX, a cryptocurrency bankruptcy claims exchange, and its creators about $2.8 million. OPNX was already chastised by VARA back in May and was founded by Kyle Davies and Su Zhu, the founders of the disbanded hedge fund Three Arrows Capital

Nearly two years after submitting an application for authorization, cryptocurrency exchange Coinbase (COIN) is now able to list crypto futures in the United States. The National Futures Association (NFA) has granted Coinbase Financial Markets permission to operate as a Futures Commission Merchant (FCM), the company announced on Wednesday. FCMs play a similar role to market

Decenter reports that Bithumb Korea, the organisation that runs the virtual asset exchange Bithumb, suffered a large operational deficit in the second quarter of 2023. Bithumb Korea reported an operational loss of KRW 3.442 billion for the second quarter, according to the electronic disclosure system run by the Financial Supervisory Service on August 16. This

The makers of hardware wallets Ledger and PayPal have teamed together to enable customers to purchase cryptocurrency in Ledger Live using their PayPal accounts, the firms announced on Wednesday.Users of Ledger Live can deposit tokens straight into the hardware wallet and purchase cryptocurrency using fiat money.Users will be able to link their PayPal accounts without undergoing any further verification thanks to the integration of PayPal. “We’re combining the uncompromising security of Ledger with PayPal’s leadership in protected payments technology to help facilitate a seamless platform for user crypto transactions,” Ledger CEO Pascal Gaithier said in a statement. “Ledger is committed to simplifying the world of crypto and PayPal is committed to making the movement of money as simple, reliable

In relation to their inadequate audit of the music streaming startup Akazoo Limited, the U.S. Securities and Exchange Commission (SEC) has filed charges against Crowe U.K. LLP, a London-based auditing firm, its CEO Nigel Bostock, and its senior auditor Matthew Stallabrass. The parties concerned have consented to resolve the SEC’s allegations. According to the SEC’s

Management of cryptocurrency assets On the zkSync Era blockchain, De.Fi made its antivirus programme available. Users of the antivirus programme are shielded against common dangerous crypto attacks including phishing, flaws in smart contracts, blind signature, and others by the software. Over $300 million was lost by cryptocurrency traders in the last month alone as a

Nearly two years after it was initially approved, London-based Jacobi Asset Management has listed Europe’s first spot bitcoin exchange-traded fund (ETF) on Euronext Amsterdam.The Guernsey Financial Services Commission (GFSC) oversees the Jacobi FT Wilshere Bitcoin ETF, which will trade with the symbol “BCOIN.” According to a Tuesday announcement by Jacobi, Fidelity Digital Assets will be in charge of the fund’s custody, and Flow Traders will serve as the market maker. In October 2021, Jacobi received authorisation for the fund, with the intention of listing it the following year. Due to unfavorable conditions elsewhere in the market for digital assets, like the failure of the Terra ecosystem and the bankruptcy of crypto exchange FTX, the company decided to delay its ambitions. Exchange-traded products (ETPs), which is another name for exchange-traded notes (ETNs), are widely used in Europe, but Jacobi’s offering is the first ETF.ETN investors own a debt security, whereas ETF owners own a fraction of the product’s underlying shares. Unlike ETNs, according to Jacobi, its ETF cannot be leveraged or use derivatives. Despite dozens of petitions to the Securities and Exchange Commission (SEC) in the last few years that were all refused, the listing implies that Europe will see a spot bitcoin ETF traded before the U.S. However, after asset management behemoth BlackRock (BLK) spearheaded a rush of new applications incorporating “surveillance-sharing” agreements intended to prevent market manipulation, there has been renewed optimism that the regulator will authorize a spot bitcoin fund.

The main cryptocurrency exchange, Coinbase, officially announced that it would be extending its operations into the Canadian market. The addition of Interac payment rails, the collaboration with premier banking and payment partners, and the introduction of Coinbase One—a 30-day trial that offers Canadian users benefits not offered to users in other nations—all serve as markers

The SEI digital asset has been added to the KRW and BTC markets of Upbit, a well-known digital asset exchange. The announcement, which gives comprehensive details on the listing and related rules, was made on August 14, 2023. Only deposits made on the Sei network will be supported for SEI, the Sei network’s native token

Trading of cryptocurrenciesThrough a collaboration with regional financial services provider Peoples Trust Company, Coinbase announced on August 14 that it was expanding the range of services it provides to Canadian users.All of Coinbase’s users now have the option to deposit and withdraw money from their accounts using the Interac e-Transfer service.Since the app’s August introduction in Canada, this feature has reportedly received the most requests from users there.Canada’s attraction in the cryptocurrency market was discussed by Nana Murugesan, vice president of international and commercial development at Coinbase industry.“Canada is well positioned to be a global leader in the cryptoeconomy thanks to the high levels of crypto awareness, a passionate local tech ecosystem, and the progress towards a strong regulatory framework.” The exchange also stated that it considers the Canadian market to be its next “Go Deep Market” and referenced a report from the Ontario Securities Commission that claimed more than 30% of Canadians planned to purchase cryptocurrencies this year.Following the exit of Binance and ByBit from Canada due to tighter rules from local authorities, Coinbase has entered the Canadian cryptocurrency market.Regulations dictated that bitcoin exchanges agree to a number of terms and conditions while their applications were still being reviewed. These regulations were issued by the Canadian Securities Administrators.In March, 11 exchanges, including Coinbase, reportedly agreed to the pre-clearance regulations. Coinbase’s entry into Canada comes as the exchange is still engaged in legal disputes with American lawmakers.The business filed a request for the U.S. Securities and Exchange Commission to drop its ongoing litigation on August 4.Despite the business’s legal issues in the United States, Coinbase CEO Brian Armstrong allegedly stated on August 4 that leaving the nation is “not even in the realm of possibility right now.”For a more crypto-friendly regulatory environment, though, Armstrong has also previously discussed moving Coinbase’s headquarters outside of the United States.

The world’s largest payments company, PayPal, recently introduced the stablecoin PayPal USD (PYUSD), which is pegged to the dollar. In an update to its terms and conditions, PayPal included a feature called Cryptocurrencies Hub that lets users store and deal with Bitcoin and other cryptocurrencies in their PayPal accounts. The most recent version of PayPal’s terms and conditions outlines the requirements for customers who want to utilize the network for cryptocurrency.The Cryptocurrencies Hub service, according to the business, will enable cryptocurrency sales and purchases.Additionally, it will make it easier for PayPal users to pay for goods with the proceeds from the sale of their The Cryptocurrencies Hub will also be crucial to convert between PYUSD and other crypto assets. PayPal further clarified,“Any balance in your Cryptocurrencies Hub represents your ownership of the amount of each Crypto Asset shown. You will not hold the digital Crypto Assets themselves in your Crypto Asset balance.” The new tool won’t be available to all PayPal customers, though, as the corporation will choose who has access to it.To begin with, a PayPal user must have “a personal PayPal account and a Balance Account in good standing” in order to be eligible for Cryptocurrencies Hub.PayPal will also confirm the necessary identifying information, which includes the users’ names, addresses, dates of birth, and taxpayer identification numbers. “You can only use

The Securities and Exchange Commission (SEC) of the United States has once more postponed making a judgement about the spot Bitcoin ETF that ARK Investment Management and 21Shares have proposed. The SEC said that it will “institute proceedings” to decide whether to approve or deny the Bitcoin ETF in a file made public on Friday

The reason for the transactions has sparked speculation in the wider crypto community. On August 11, according to Etherscan, bankrupt cryptocurrency lender Voyager Digital transferred 1,500 ether worth approximately $2.77 million and an additional 250 billion shiba inu worth approximately $2.7 million to cryptocurrency exchange Coinbase. Within the larger crypto community, curiosity has been sparked

In order to prevent stifling American innovation, Grayscale CEO Michael Sonnenshein emphasised the necessity for a well-balanced regulatory approach to cryptocurrencies. Michael Sonnenshein, CEO of Grayscale Investments, raised the possibility of a bad conclusion for the US economy if the Securities and Exchange Commission (SEC) continues to regulate the cryptocurrency market one by one. Sonnenshein