The Solana Mobile team has announced that its crypto phone Saga is officially sold out in the US, with only a few of these suddenly indemand devices left for the European market. The Android phone was launched in May.On December 13, the price of BONK, a meme coin on Solana, skyrocketed to a new all-time […]
SafeMoon, a once-thriving cryptocurrency protocol, has filed for Chapter 7 bankruptcy amidst allegations of fraud and mismanagement. The founders of SafeMoon, Kyle Nagy, Thomas Smith, and Braden Karony, are facing a $200 million SEC lawsuit for securities fraud.The bankruptcy filing, officially submitted on December 14th, is a form of liquidation bankruptcy. SafeMoon’s Chief Restructuring Officer […]
Goldman Sachs has expressed optimism about Ripple’s XRP, calling it the “opportunity of a lifetime.” Former Goldman Sachs executive Raoul Pal and attorney John Deaton believe that XRP has real-world utility and market resilience, making it a valuable investment. Despite the SEC’s lawsuit against Ripple, Pal and Deaton see the potential for XRP to capture […]
Ripple, a blockchain company, has released a white paper on central bank digital currencies (CBDCs), reaffirming its support for them. The 23-page document explains the basics of CBDCs, their benefits, and the challenges to their widespread adoption. Ripple believes that CBDCs can enhance financial inclusion, streamline cross-border payments, and strengthen monetary policy control. However, the […]
The Securities and Exchange Commission (SEC) chief, Gary Gensler, may change his stance on approving Spot Bitcoin ETFs. In a recent interview with CNBC, Gensler mentioned that the courts of Washington DC have provided their input on the matter, following multiple rejections of similar applications in the past.The SEC currently has several filings on its […]
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 […]
