Category : Finance Magnates

Finance Magnates

FTX Bankruptcy Plan Approved, Promising 119% Return to Creditors

The US bankruptcy judge Jon Dorsey has approved the reorganization plan for FTX, paving the way for the defunct cryptocurrency exchange to repay billions of dollars to its creditors. The decision marks a significant update in the company's efforts to...

92% of Asset Managers Expect More Digital Asset Funds from Traditional Firms - Survey

Institutional investors and wealth managers predict a surge in the launch of new digital asset funds within the coming year. They expect this trend to substantially transform the sector amid growing interest among traditional institutions. According...

UAE Updates Crypto Laws, Exempts Transactions from Value-Added Tax

The United Arab Emirates (UAE) exempted all crypto transactions from value-added tax (VAT), effectively treating cryptocurrencies similarly to traditional financial services. This action reportedly aims to clarify the regulatory status of the sector....

MiCA Prompts Coinbase to Remove Selected Stablecoins in Europe

Coinbase will remove certain stablecoins from its platform in the European Economic Area (EEA) by the end of the year. The company made the announcement today (Friday), citing upcoming regulatory changes in the region.Stablecoins are digital assets d...

SEC Claims Lejilex’s Lawsuit Seeks to “Redefine Crypto as Non-Security”

Crypto startup Lejilex and the United States Securities and Exchange Commission (SEC) are engaged in a legal battle over the classification of cryptocurrencies. Both parties have submitted competing briefs for summary judgment in a Texas federal cour...

Kraken's 24/7 Derivatives Platform in Bermuda Obtains Regulatory Approval

Kraken has announced the launch of its new global derivatives venue in Bermuda. This initiative aims to provide clients with a licensed trading platform in a recognized jurisdiction.Bermuda Authority Approves Kraken VenueKraken's new venue allows cli...

SEC Formally Moves to Appeal $125 Million Fine against Ripple

The Securities and Exchange Commission (SEC) yesterday (Wednesday) formally moved to appeal a federal judge's decision in the regulator’s case against Ripple, which resulted in a $125 million fine.SEC Files “Notice of Appeal”The regulator filed a "no...

MARA Stock: Shares of Wall Street's Biggest Crypto Miner Set to Surge 50%

Marathon Digital Holdings, the largest publicly listed Bitcoin (BTC) miner on Wall Street (NASDAQ: MARA), has caught the attention of financial group Macquarie, which initiated coverage of the company's shares with an “Outperform” rating. Due to the...

Cybersecurity Losses Surge to $2.1 Billion in 2024; WazirX Seeks Court Protection

The year 2024 has recorded unprecedented losses in the cybersecurity landscape. By the end of Q3, they reached $2.11 billion in total, surpassing all the losses from 2023, Cyvers' report shows.The year has witnessed a sharp increase in hacking incide...

Bitwise Creates an XRP ETF Trust: Will There Be Another Crypto ETF?

After successfully listing Bitcoin and Ethereum exchange-traded funds (ETFs) on US exchanges, Bitwise is now moving towards creating an XRP ETF and has already registered a trust entity in the state of Delaware on Tuesday.An XRP ETF TrustThe newly re...

Dubai Licenses Ripple to Launch Cross-Border Payment Services

Blockchain network Ripple obtained approval from Dubai's regulators to launch its payment infrastructure across the UAE. The in-principle approval was awarded by the Dubai Financial Services Authority (DFSA). According to the company's announcement,...

Binance Secures 20th Regulatory Approval as a VASP from Argentina's CNV

Binance has recently registered as a Virtual Asset Service Provider with Argentina's National Securities Commission (CNV). This registration is a notable regulatory milestone for the company, marking its 20th such achievement globally. The approval a...

Robinhood Introduces Crypto Transfers for EU Customers, Eyes Market Share

Robinhood Markets announced today (Tuesday) the launch of cryptocurrency transfers for its European customers, marking an important expansion of its services in the region.The new feature enables users to deposit and withdraw two dozen digital assets...

Binance Unveils Pre-Market Spot Trading for Crypto Investors

Binance introduced a pre-market spot trading feature to enable cryptocurrency investors to buy and sell tokens before their official market listing. The new service enables users to trade tokens generated from selected Launchpool projects ahead of th...

Binance Introduces Pre-Market Spot Trading for Crypto Investors

Coinbase Challenges SEC: Judges Question the Regulator's Crypto Rulemaking Rejection

The US Court of Appeals for the Third Circuit raised concerns over the Securities and Exchange Commission's (SEC) denial of a rulemaking petition by Coinbase. The exchange, the largest in the US, has criticized the SEC for the lack of clear rules for...

Crypto ATM Network: First UK Conviction for Illegal Operation Valued at £2.6M

In a landmark case, Olumide Osunkoya has pleaded guilty to operating an illegal network of cryptocurrency ATMs across the United Kingdom, marking the first conviction of its kind in the country. The 45-year-old London resident admitted to five offens...

Bybit Secures Full Crypto License in Kazakhstan, Targets CIS Expansion

Kazakhstan granted cryptocurrency exchange Bybit full license approval. Awarded by the Astana Financial Service Authority (AFSA), this approval strengthens the exchange's expansion in the region. It allows the company to offer a range of crypto servi...

Canada's Crypto Firms Get More Time to Comply with Stablecoin Rules

The Canadian Securities Administrators (CSA) has updated stablecoin regulations for crypto asset trading platforms. The CSA has also extended the compliance deadline for registered firms to meet new conditions or propose alternatives to protect inves...

Robinhood Plans to Enter the Stablecoin Market: Can It Challenge Tether?

After Revolut, American zero-commission broker Robinhood is now considering launching stablecoins, Bloomberg reported. However, a Robinhood spokesperson said the company has “no imminent plans to launch this offering” without dismissing the report.Ro...

US Charges Two Russian Nationals in Money Laundering Scheme Involving Crypto Exchanges

The US government charged two individuals with operating a multi-billion-dollar money laundering scheme. Law enforcement agencies disrupted the global cybercriminal operation and seized websites associated with illegal crypto exchange activities.The...

MiCA Crypto Alliance: Regulatory Consensus or Diverging Approaches to Digital Assets?

As crypto becomes ever more mainstream and intersects with traditional finance and bureaucracies, cultural clashes are inevitable. After all, bitcoin promised to separate money from the state, while crypto evolved as a means of transacting peer-to-pe...

Crypto Firms Must Toe the Line with Dubai VARA’s Compliance Regulations

Dubai's Virtual Asset Regulatory Authority (VARA) is set to enforce stricter requirements for companies that market cryptocurrency investments within the country. In a recent press release, VARA announced that these companies must include a specific...

Binance Serves Users Despite 2022 Exit, Sees 43% Decline in Russian Traffic

Binance continues to serve some Russian clients despite its previous announcement of a full exit from the Russian market in 2022. Yesterday (Wednesday), a Binance spokesperson confirmed to Cointelegraph that the exchange maintains services for a limi...

Binance Serves Users Despite 2023 Exit, Sees 43% Decline in Russian Traffic

Binance continues to serve some Russian clients despite its previous announcement of a full exit from the Russian market in 2023. Yesterday (Wednesday), a Binance spokesperson confirmed to Cointelegraph that the exchange maintains services for a limi...

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