Su Zhu, co-founder of the crypto hedge fund Three Arrows Capital (3AC), is set to be released from custody after spending several months behind bars. Zhu had received a four-month jail sentence for non-cooperation in the liquidation process of the collapsed firm. However, his release is now attributed to his good behavior during his time […]
BlackRock’s proposed spot bitcoin ETF has made a change to its mechanics that could potentially involve Wall Street banks in the cryptocurrency market. The change allows authorized participants (APs) to create new fund shares using cash instead of cryptocurrency. This is significant because regulated U.S. banks are unable to hold bitcoin themselves. By acting as […]
DWS, the fund subsidiary of Deutsche Bank, is partnering with Flow Traders, an ETP market maker, and crypto specialist Galaxy to launch a joint venture called Allunity. The Frankfurt-based joint venture aims to promote asset tokenization and introduce a euro-denominated stablecoin in the European market. The collaboration is driven by the increasing focus on digital […]
The recent Israel-Gaza war has sparked a renewed push for stricter regulation of the crypto market in the United States. Senator Elizabeth Warren and her colleague Roger Marshall have written a letter to the president, urging for stronger measures to combat the alleged use of crypto by groups like Hamas to raise funds and evade […]
Howard Lutnik, CEO of Cantor Fitzgerald, recently shared his insights on the future of the crypto industry, highlighting Tether and Bitcoin during the CNBC Money Movers Podcast. Lutnik expressed confidence in Tether’s treasury holdings and Bitcoin’s market-driven appeal amidst a looming wave of real estate defaults.Setting the macro-economic picture, Lutnik predicted a substantial wave of […]
Dubai-based cryptocurrency exchange CoinMENA has been awarded a virtual asset service provider (VASP) license by Dubai’s Virtual Assets Regulatory Authority (VARA). The license allows CoinMENA to operate and offer services in and from Dubai. CoinMENA can now provide virtual asset broker-dealer services to retail and institutional customers in the United Arab Emirates (UAE), allowing them […]
M2, a startup in the fintech and crypto industry, has achieved remarkable success in just over a year. Led by CEO Stefan Kimmel, who previously served as Chief Commercial Officer at Kraken MENA, the company has managed to launch multiple products and overcome various challenges.The team at M2 consists of highly experienced professionals who have […]
Cryptocurrency exchange KuCoin has reached a $22 million settlement with the state of New York following allegations of illegal operation and misleading investors. The settlement includes $16.7 million in refunds for New York-based KuCoin investors, as well as a $5.3 million fine paid directly to the state. KuCoin CEO Johnny Lyu confirmed the settlement on […]
The decentralized exchange (DEX) of cryptocurrency exchange OKX, known as OKX DEX, experienced a hack resulting in a loss of $2.7 million. The hack occurred after the private key of the proxy admin owner was leaked. The issue began on December 12, 2023, when the proxy admin owner upgraded the DEX proxy contract. Users began […]
The UBS has formed a new unit called the “Executive Client Group” consisting of nine bankers who will be responsible for managing the bank’s most important corporate clients worldwide and negotiating directly with company executives. The unit will be led by Ros L’Esperance and will report directly to Rob Karofsky, the head of UBS Investment […]
