FTX, a major cryptocurrency exchange, is facing legal troubles as its former general counsel testified in the criminal trial of its CEO, Sam Bankman-Fried. The counsel claimed to be unaware of the exchange’s mixing of funds with Alameda Research, a sister company. Additionally, an accounting professor provided analysis showing that Alameda had a negative balance […]
Ripple’s CEO, Brad Garlinghouse, recently discussed the company’s stance on XRP and its broader business strategy. While Ripple owns a significant amount of XRP and recognizes its efficiency for various use cases like cross-border payments, Garlinghouse emphasized that they are not XRP maximalists. He believes there is room for other digital assets, including Bitcoin. Ripple’s […]
The IRS has proposed new reporting requirements for cryptocurrency users in response to the Infrastructure Investment and Jobs Act. Although the proposal is not as severe as initially feared, it still raises concerns about privacy and financial surveillance. The IRS’s approach focuses on whether businesses have the ability to collect customer information, rather than whether […]
Solana-based decentralized finance (DeFi) protocol Marinade Finance has restricted access for users in the United Kingdom in compliance with new regulations set by the Financial Conduct Authority (FCA). The FCA introduced these regulations earlier in the year to govern the promotion of crypto products in the region. As a result, several crypto companies have either […]
California legislators have proposed a new bill aimed at regulating crypto ATMs in response to growing scams. The bill, titled “Digital financial asset transaction kiosks,” seeks to impose a daily withdrawal limit of $1,000 on crypto ATMs and cap operators’ fees at $5 or 15% (whichever is higher) starting in 2025. The legislation was prompted […]
In Thailand, a growing number of investors are turning to astrology and divine powers to predict market movements, including in the crypto market. Astrologists and fortune tellers are gaining popularity, with some using tarot card readings and astrology to predict the price of cryptocurrencies. However, skeptics question the accuracy of these predictions, with some suggesting […]
The European Central Bank (ECB) has announced that it will be moving into the next phase of its digital euro project. This comes after a two-year investigation phase, and the preparation stage is set to begin on November 1 and last for two years. During this phase, the ECB will finalize the digital euro rulebook, […]
New York Attorney General Letitia James has filed a lawsuit against cryptocurrency firms Gemini, Genesis, and Digital Currency Group (DCG), accusing them of defrauding 230,000 investors out of $1.1 billion. The lawsuit specifically focuses on Gemini’s investment product, Gemini Earn, which was marketed as a safe way to earn interest on cryptocurrencies. However, it was […]
The Calgary Police Service has issued a warning to residents about the increasing number of crypto-related scams in the city. According to a report from the police, residents in Calgary have lost over $22.5 million to these scams in 2023, a significant increase from the $14 million recorded in 2022. The police believe that these […]
The U.S. Securities and Exchange Commission (SEC) has achieved a significant victory in its legal battle against Thor Technologies and its founder, David Chin. The SEC has obtained a default judgment against the company and Chin for conducting an unregistered crypto asset securities offering worth $2.6 million. This judgment comes after charges were initially filed […]
