Category : Finance Magnates

Finance Magnates

Bahamas Regulator Challenges FTX CEO’s Allegations over Customer Funds

The Securities Commission of The Bahamas (SCB) released a statement on Monday to defend itself against the “material misstatements” made by the newly appointed Chief Executive of FTX, John Ray, who is overseeing the <a href="https://...

Binance Nears Acquisition of Korean Crypto Exchange Gopax: Report

Binance, a leading cryptocurrency exchange, is making arrangements to finalize its acquisition of GOPAX, one of the top crypto exchanges in Korea, Decenter reports. The exchange has conducted i...

Are Initial Coin Offerings safe?

A new coin can be launched via a sale to investors during its launch period, but is that process safe or could it be a scam?If you want to know the answer to that you...

Are Initial Coin Offerings Safe in 2023?

An initial coin offering (ICO) or any new coin can be launched via a sale to investors during its launch period, but is that process safe or could it be a scam?If you...

UK Offers Crypto Tax Break to Non-Residents

The United Kingdom has taken one step forward to becoming a <a href="https://www.financemagnates.com/cryptocurrency/singapore-is-the-city-state-ready-to-become-asias-next-crypto-hub/" target="_blank" rel="follow&q...

Meta Matters in NFTs

It would be inaccurate to claim that NFTs creators, collectors and traders don’t care about the value of their assets in dollar terms. However, there is, in part, an NFT outlook by which 1 ETH equals 1 ETH, meaning that NFT prices are tracke...

What's Next for Crypto after the Chaos of 2022?

No doubt, 2022 has been a hectic year for the global cryptocurrency industry. At the start of the year, the market capitalization of the global cryptocurrency industry stood at $2.19 trillion do...

FTX-Owned Liquid to Return Customer Funds Next Year

Japanese crypto exchange Liquid, which now-collapsed FTX owns, announced plans to return customer assets that will begin in 2023. The process of asset return will be opened for the accounts holders with FTX Japan and Liquid Japan.&...

Bahamas Regulator Holds $3.5 Billion in FTX Customer Assets

On Thursday, the Bahamian Securities Commission revealed its control over more than $3.5 billion worth of cryptocurrencies that belong to FTX customers. The Bahamas regulator obtained these <a href="https://www.financemagnates.com/te...

FBI Is Reportedly Investigating 3Commas' API Leak

The United States <a href="https://www.financemagnates.com/tag/fbi/" target="_blank" rel="follow">Federal Investigation Bureau (FBI) is probing</a> the data breach at Estonia-based 3Commas that expos...

Gemini, Winklevoss Twins Face Class-Action Lawsuit over Lending Products

Crypto exchange Gemini and its owners, Tyler and Cameron Winklevoss, were sued by investors with a class-action lawsuit over the interest-bearing accounts, which promised up to 7.4 percent <a href="https://www.financemagnates.com/ter...

Is Crypto a Cultural Movement?

Spend too much time on crypto Twitter (known in affectionate shorthand as CT), or in the tangled web of associated blogs, podcasts and online publications that revolve around crypto, and you can start to feel like you’re in a different world...

Midas Shuts Down as Another Victim of FTX Collapse

Midas Investments, a cryptocurrency company from the decentralized finance (DeFi) ecosystem, has decided to shut down its operations after experiencing heavy losses due to the FTX exchange collapse. The decision was announced on Tuesday by...

Flash Loans Explained - An Improvement Over DeFi Loans?

Flash loans, as the name suggests, are literally loans that can transpire instantly. Put literally, imagine you could borrow millions of dollars, but you had to pay it all back in just a few seconds? With flash lo...

Kraken To Shut Operations in Japan by Citing 'Weak Crypto Market'

The cryptocurrency exchange, <a href="https://www.financemagnates.com/tag/kraken/" target="_blank" rel="follow">Kraken </a>announced its decision to withdraw operations in Japan on Wednesday, citing...

Mike Novogratz's Galaxy Saves Bitcoin Miner Argo from Bankruptcy

Argo Blockchain, a major crypto mining company publicly listed in London (LSE:ARB) and New York (NASDAQ:ARBK), has dismissed the vision of potential <a href="https://www.financemagnates.com/terms/b/bankruptcy/" target="_bl...

US Justice Department Is Probing $400 Million FTX Hack

The US Department of Justice is investigating the theft of around $400 million from the collapsed <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" target="_blank" id="601e2e5f-0c28-4253-9...

US Justice Department Probing $400 Million FTX Hack

DeFi Protocol Mango Markets Manipulator Is Arrested

The United States prosecutors have arrested Avraham Eisenberg, who admitted to draining <a href="https://www.financemagnates.com/cryptocurrency/defi-tokens-another-boom-or-the-final-bust/" target="_blank" rel="fol...

OKX Broadens DApps Offering, Partners with DappRadar

OKX, the leading crypto <a href="https://www.financemagnates.com/terms/e/exchange/" target="_blank" id="b5da6e64-2afe-421d-9b81-16404b7d59d6_1" class="terms__main-term"&g...

Troubled Crypto Lender Vauld Calls Off Acquisition by Nexo

Singapore-based troubled crypto lender, Vauld has confirmed the termination of the talks for acquisition by rival Nexo for failure in responding to due diligence requests for a <a href="https://www.financemagnates.com/terms/s/solvenc...

French Clients File Complaint against Binance over Crypto Promotions

A group of French investors who were previously clients of Binance has filed a complaint against the top cryptocurrency exchange for allegedly illegally promoting its digital asset services in France between Decem...

Bitget Launches MegSwap, Connects DeFi Experience with CeFi

Bitget, a major <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" target="_blank" id="601e2e5f-0c28-4253-9ad4-5e6b251ba2fa_1" class="terms__main-term&...

Bitget Launches MegaSwap, Connects DeFi Experience with CeFi