Crypto News
Binance Russian Successor CommEx Winds Down
CommEx, the cryptocurrency exchange that took over the Russian business of Binance in September 2023, has officially announced its decision to wind down operations. It has also immediately halted deposits on its platform. The announcement comes as Binance faces increasing regulatory scrutiny worldwide, with the Philippines recently blocking local user access to the exchange due …...
Philippines Securities Regulator Moves to Block Crypto Exchange Binance
The Securities and Exchange Commission (SEC) of the Philippines has decided to block local user access to cryptocurrency exchange Binance. The move comes in response to concerns over the firm’s unlicensed operations in the country. The SEC alleged that this poses a threat to the security of Filipino investors’ funds. Key points: Read more: Spot …...
Spot Bitcoin ETFs Hit Record Five-Day Streak of Net Outflows Amid Weak Inflows
Spot Bitcoin exchange-traded funds (ETFs) have reached a new milestone this week. However, it’s not one that crypto traders are likely to enjoy. For the first time since their inception, these ETFs have experienced five consecutive days of net outflows, surpassing the previous record of a four-day streak set in January of this year. Key …...
EU Parliament Committees Approve Ban on Anonymous Crypto Transactions
The European Union is set to implement new anti-money laundering (AML) and counter-terrorism financing laws that will significantly impact the cryptocurrency market. A majority of the EU Parliament’s lead committees have approved a ban on anonymous crypto transactions of any value made through hosted or custodial crypto wallets offered by third-party service providers, such as …...
UN Panel Investigates North Korea’s $750 Million Cryptocurrency Cyberattacks
A report by a United Nations panel of experts has shed light on the extent to which North Korea relies on cryptocurrency and other malicious cyber activities to generate foreign currency revenue and fund its weapons programs. The panel under the UN Security Council’s (UNSC) sanctions committee on North Korea released the report on Wednesday. …...
Coinbase Plans to Launch Dogecoin Futures Contracts, DOGE Surges
Coinbase, one of the world’s leading cryptocurrency exchanges, has announced its intention to launch cash-settled futures contract products for Dogecoin (DOGE), Litecoin (LTC), and Bitcoin Cash (BCH) as early as April 1, 2024. In a series of letters addressed to the United States Commodity Futures Trading Commission (CFTC) on March 7, Coinbase Derivatives outlined its …...
U.S. Firms Receive Subpoenas as SEC Seeks to Classify Ethereum as a Security
The U.S. Securities and Exchange Commission (SEC) has reportedly initiated a legal campaign to classify Ethereum, the world’s second-largest cryptocurrency, as a security. According to a Fortune report, U.S. companies that have received subpoenas related to the investigation believe the SEC’s actions are delivering a significant setback to the crypto industry’s hopes for the approval …...
Extradition of Do Kwon to South Korea Finalized
A Montenegro appeals court has denied Terraform Labs founder Do Kwon’s bid to overturn a previous ruling that approved his extradition to South Korea. Released on Wednesday, the official notice confirms that Kwon will now face criminal charges in his home country related to the collapse of his multi-billion-dollar Terra-LUNA ecosystem. Key points: Read more: …...
Ethereum Foundation Faces Investigation from State Authority
The Ethereum Foundation, a Swiss non-profit organization that plays a central role in the Ethereum ecosystem, has disclosed that it is currently the subject of an investigation by an undisclosed state authority. According to CoinDesk, on February 26, 2024, a commit on the organization’s website’s GitHub repository made the information public. The message stated that …...
Robinhood Wallet Expands to Android Users Globally
Robinhood has announced the global release of its crypto wallet to all eligible Android users. The launch follows the successful introduction of Robinhood Wallet in 2023, which has already been downloaded hundreds of thousands of times across more than 140 countries. Key points: Johann Kerbrat, GM of Robinhood Crypto, emphasized the significance of the Android …...
Apple Co-Founder Wins Crucial Appeal in YouTube Lawsuit Over Bitcoin Scam
Apple co-founder Steve Wozniak has prevailed in the latest round of his legal battle against YouTube. The legal dispute was regarding deepfake videos showcasing his appearance in a Bitcoin scam in 2020. According to Bloomberg, the San Jose appeals court overturned a lower court’s decision that had previously acquitted YouTube of any responsibility in the …...
Sam Bankman-Fried’s Defense Challenges DOJ’s 50-Year Sentence Proposal
In a letter submitted to District Judge Lewis Kaplan on Tuesday, defense team of Sam Bankman-Fried opposed the Department of Justice’s (DOJ) recent sentencing memorandum. The DOJ recommended a prison term of 40 to 50 years for the FTX founder. The defense argued that the government’s proposal was unjust and painted an inaccurate picture of …...
Ledger To Launch Much-Anticipated Crypto Wallet in May
Ledger, a prominent manufacturer of crypto hardware wallets, has disclosed to CNBC that its much-awaited Ledger Stax will be available to the public in May. The iPod’s creator, Tony Fadell, created the sleek, credit card-sized Stax. Despite facing several challenges, including shipment delays due to issues with the E-ink display and production bottlenecks, Ledger CEO …...
Genesis Agrees to Pay $21 Million Penalty in SEC Settlement
Genesis has agreed to pay a civil penalty of $21 million and submit to a permanent injunction as part of a settlement with the U.S. Securities and Exchange Commission (SEC). According to a recent press release, the settlement resolves charges that Genesis engaged in the unregistered offer and sale of securities through its crypto asset …...
MicroStrategy Acquires 9,245 Bitcoin For $623M, Holds 214,246 BTC
MicroStrategy has announced another substantial purchase of Bitcoin. According to a tweet by the company’s former CEO, Michael Saylor, MicroStrategy has purchased an additional 9,245 BTC for approximately $623 million. According to the details, the company utilized proceeds from convertible notes and excess cash. The average purchase price for this latest acquisition stands at around …...
Nigerian Court Orders Binance to Provide User Data to Financial Crimes Commission
In a recent development, a Nigerian court has directed cryptocurrency exchange Binance to furnish the nation’s Economic and Financial Crimes Commission (EFCC) with detailed information on all Nigerian users trading on its platform. Justice Emeka Nwite from the Abuja Division of the Federal High Court issued the interim order. Also, this comes in response to …...
Worldcoin Asserts Compliance With Global Laws Amidst Spain Ban
Worldcoin has recently issued a statement addressing its operations and compliance in light of growing legal uncertainty in Spain. In a blog post titled “Essential facts about Worldcoin,” published on March 18, the project provided key information about its practices, rules, and regulations. Key highlights: Read more: Standard Chartered Bullish On Bitcoin, Raises Price Forecast …...
Standard Chartered Bullish on Bitcoin, Raises Price Forecast to $150,000
In a recent investment note, Standard Chartered Bank significantly increased its year-end price forecast for Bitcoin (BTC) from $100,000 to $150,000. The bank’s analysts, under the direction of Geoffrey Kendrick, have also forecast that BTC could reach a cyclical high of $250,000 in 2025 before falling to around $200,000. Key highlights: The bank’s bullish outlook …...
Odds of Spot Ethereum ETF Approval Plunge To 23%
The likelihood of a spot Ethereum exchange-traded fund (ETF) receiving approval from the U.S. Securities and Exchange Commission (SEC) by the end of May has significantly decreased, according to prediction markets and industry analysts. Polymarket, a decentralized prediction market platform, currently estimates the chances of approval at 23%. This is a sharp decline from the …...
FTX’s Sam Bankman-Fried Should Face 40–50 Years In Prison: Prosecutors
In a sentencing memo filed on Friday, federal prosecutors recommended that Sam Bankman-Fried be sentenced to a minimum of 40 years and a maximum of 50 years in prison. The Department of Justice’s Southern District of New York office argued that the severe sanction is necessary due to the gravity of Bankman-Fried’s crimes. These include …...
