Kraken, a popular cryptocurrency exchange, has announced that it will suspend transactions involving several digital assets in Canada. The affected assets include USDT, DAI, WBTC, WETH, and WAXL. The decision comes in response to recent regulatory changes in Canada and after consultations with regulatory authorities. Kraken emphasized its commitment to meeting compliance standards and providing […]
Gemini, a cryptocurrency exchange, has filed a lawsuit against Genesis Global Holdco, a bankrupt crypto lender, over the fate of shares of Grayscale Bitcoin Trust (GBTC). These shares were used as collateral for loans made by Gemini users to Genesis. The collateral is currently worth close to $1.6 billion. Gemini claims to have received $284.3 […]
Sam “SBF” Bankman-Fried, the former CEO of FTX, testified in court regarding his relationship with Caroline Ellison and political donations from the crypto exchange. Bankman-Fried claimed that he did not discuss donations to U.S. politicians with former FTX employees Nishad Singh and Ryan Salame. He stated that the donations made in his name were actually […]
Active ETFs are gaining popularity among investors as market conditions shift towards active management. However, experts suggest that it shouldn’t be a choice between active or passive investing, but rather a combination of both. While passive funds have performed well in the past, their future performance may not be as strong. On the other hand, […]
Amid the global crackdown on financial crimes and terrorism funding, the US government has expressed concerns about certain companies in the crypto asset industry. The government believes that these entities are not doing enough to prevent illicit financial transactions. US Deputy Treasury Secretary Wally Adeyemo emphasized the need for financial institutions and digital asset companies […]
Gemini Trust Co. has filed a lawsuit against Genesis Global Capital, seeking to recover $1.6 billion in collateral for Gemini customers. The lawsuit alleges that Genesis improperly withheld collateral that was supposed to backstop loans made through Gemini’s Earn program. The collateral consists of over 30 million shares of the Grayscale Bitcoin Trust (GBTC). Gemini […]
The Federal Reserve Board is actively researching a central bank digital currency (CBDC) and related technologies, according to Vice Chair Michael Barr. The focus of their research is on the system architecture, including ledgers, tokenization, and custody models for an intermediated CBDC. Barr emphasized that a digital dollar would require a congressional mandate, but learning […]
The U.S. Deputy Treasury Secretary, Wally Adeyemo, has warned digital asset companies about the need to prevent illicit financial flows. Speaking at London’s Royal United Services Institute, Adeyemo highlighted that some companies in the crypto industry are more focused on technological innovations and overlook the potential consequences of unlawful funds. He emphasized the importance of […]
A new bill aimed at combating economic crime in the UK is making its way through the legislative process. The Economic Crime and Corporate Transparency Bill has been approved by UK lawmakers and is expected to have a significant impact on the fight against illicit activities. The bill focuses on regulating illicit cryptocurrency assets, marking […]
Music streaming service Spotify has announced a profitable third quarter in 2023, attributing its success to a surge in user numbers and a price increase. The company reported a profit of 65 million euros, a significant improvement from the 166 million euro loss during the same period last year. Spotify experienced a growth of 6 […]
