A panel of regulators has raised concerns about the rapid adoption of artificial intelligence (AI) and its potential risks for the United States’ financial system. The Financial Stability Oversight Council, chaired by Treasury Secretary Janet Yellen, highlighted these risks in its annual financial stability report.While acknowledging the benefits of AI in driving innovation and efficiency […]
Christian Dubler, Managing Director of Julius Bär in Frankfurt, has been in the spotlight recently due to his personal investment in Signa Sports United (SSU). According to a 2021 SEC listing, Dubler holds 100,000 shares of SSU, a company that faced financial difficulties in October. The involvement of a high-ranking Julius Bär banker in the […]
Elon Musk has privately assured bankers who lent him $13 billion to finance the acquisition of the social media platform X that they will not lose any money in the deal. These verbal assurances were made to reassure the lenders after the platform’s value, formerly known as Twitter, has since plummeted, according to informed sources […]
The year 2023 proved to be a challenging one for the banking industry, with several major banks facing downfall and collapsing in the US. However, amidst this turbulent environment, many bank managers successfully navigated through the storm.A notable story of the year was the divergent paths taken by Credit Suisse and UBS, two banks operating […]
A recent exploit in the Ledger Library, which is integrated into many cryptocurrency projects, has caused widespread concern and market instability. This event highlights the pervasive risks in the digital asset landscape, particularly in the emerging field of decentralized finance (DeFi).The core of the crisis lies in a critical vulnerability in the “LedgerHQ” library, a […]
The U.S. Securities and Exchange Commission (SEC) is reconsidering its approach to spot Bitcoin exchange-traded products following a recent court decision involving Grayscale. SEC Chair Gary Gensler revealed in an interview that the agency has several spot Bitcoin ETF applications currently under review. Previously, the SEC had denied a number of these applications, but recent […]
Tether, the largest issuer of stablecoin USDT, has implemented a new policy to freeze crypto wallets associated with individuals and entities sanctioned by the US Treasury’s Office of Foreign Asset Control (OFAC). This move aims to strengthen the positive usage of stablecoin technology and promote a safer stablecoin ecosystem.An analysis of the Ethereum blockchain reveals […]
El Salvador has received regulatory approval for its Volcano Bitcoin bonds, which aim to raise $1 billion from investors. These bonds are supported by the country’s Bitcoin mining industry, which utilizes renewable volcanic energy. The funds raised will be used to construct the highly anticipated “Bitcoin City.”The bonds are set to be issued in the […]
New York Attorney General Letitia James has reached a $22 million settlement with KuCoin, one of the world’s largest cryptocurrency exchanges. The agreement resolves a lawsuit that accused KuCoin of operating without proper registration as a securities and commodities broker-dealer, in violation of state laws.As part of the settlement, KuCoin will refund over $16.7 million […]
US-based cryptocurrency exchange Coinbase has announced plans to expand its international exchange by offering spot trading. The move is in response to hesitancy among some users to trade on US venues due to regulatory uncertainty. The launch will initially allow institutional investors outside the US to trade Bitcoin and Ethereum spot pairs via API access. […]
