John Deaton, a prominent crypto lawyer and founder of Crypto Law, has shared his opinion on the ongoing lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). According to Deaton, a settlement of $20 million or less in the lawsuit would be a 99.9% legal victory for Ripple. He argues that those […]
Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, has been convicted on seven charges in New York. The jury found him guilty of embezzling $8 billion from customers, using the funds for speculative investments and an extravagant lifestyle. The verdict, delivered on multiple counts, highlights Bankman-Fried’s greed and deception. His defense of being a humble […]
The recent downfall of Sam Bankman-Fried and his cryptocurrency exchange FTX has had a significant impact on the industry. Bankman-Fried, the former CEO of FTX, has been found guilty of fraud and faces a potential prison sentence of up to 115 years. The evidence against him was overwhelming, with three of his closest employees testifying […]
In the third phase of life, many people face challenges in various aspects, including finances. Retirement brings about a significant shift in social connections and daily routines, which can be difficult to navigate. Additionally, financial concerns become more pressing as individuals must consider how to effectively manage their savings and investments. Questions arise, such as […]
In a groundbreaking collaboration, the Hong Kong Monetary Authority (HKMA), the Bank for International Settlements (BIS) Hong Kong Centre, and the Bank of Israel (BOI) have joined forces to explore the potential of Central Bank Digital Currencies (CBDC). This initiative, known as “Project Sela,” aims to create an advanced CBDC ecosystem that prioritizes privacy, security, […]
JPMorgan Chase & Co. has achieved a significant milestone in its blockchain initiative with its digital token, JPM Coin, now processing $1 billion worth of transactions daily. The coin, which operates on Quorum, a private blockchain developed by the bank, enables instant payments between clients with accounts at JPMorgan. Each JPM Coin is pegged 1:1 […]
US lawmakers are calling on the Department of Justice (DOJ) to take action against major cryptocurrency companies Binance and Tether. They allege that these companies have facilitated illicit financial activities, including funding for the terrorist group Hamas. Senator Cynthia Lummis and Representative French Hill have sent a letter to Attorney General Merrick Garland, citing media […]
Coinbase Financial Markets, the regulated derivatives division of Coinbase, has introduced regulated crypto futures trading for retail investors in the US. This move allows eligible US customers on the Coinbase Advanced platform to trade Bitcoin and Ethereum futures contracts. The company received regulatory approval in August to offer crypto derivatives to retail traders. By offering […]
PayPal, the global payments firm, has received a subpoena from the US Securities and Exchange Commission (SEC) regarding its PYUSD stablecoin. The subpoena requests the production of documents, and PayPal has stated that it is cooperating with the SEC in connection with this request. This comes as regulatory scrutiny around stablecoins increases, with Circle, the […]
The National Bank of Georgia (NBG) has partnered with Ripple to launch a pilot program for a central bank digital currency (CBDC) called the Digital Lari. Ripple’s CBDC platform, built on a private version of the XRP ledger, will enable the NBG to mint, manage, and redeem CBDCs in a flexible and scalable manner. The […]
