A group of former Citigroup executives have launched a new investment offering called Bitcoin depositary receipts, which they claim do not require approval from the US Securities and Exchange Commission (SEC). The founders of Receipts Depositary Corporation (RDC) – Bryant Kim, Ankit Mehta, and Ishaan Narain – were part of the Citi team that explored […]
The U.S. Securities and Exchange Commission (SEC) is nearing the potential approval of several spot Bitcoin ETFs, as major financial institutions have been actively involved in the process. The market is eagerly awaiting amendments to 19b-4 filings, which are crucial for approval. These amendments will address issues related to cash creation and redemption mechanisms, an […]
Taiwan’s law enforcement has recently uncovered and dismantled the largest cryptocurrency fraud scheme in the country’s history. The authorities conducted raids across multiple cities, seizing over NT$1 billion, or $32.2 million USD, of illegal profits.The fraud scheme was operated by ACE Exchange, one of Taiwan’s largest cryptocurrency exchanges. The exchange used its reputable image to […]
The ongoing legal battle between Ripple Labs Inc. and a group of XRP investors led by Vladi Zakinov is set to reach a pivotal moment on January 11, 2024, as both parties prepare for a significant court hearing. This date marks a crucial phase in a case that could have potentially far-reaching implications for Ripple […]
Bankrupt crypto lender Celsius Network has announced that it will be unstaking its Ethereum holdings in order to generate liquidity and distribute assets to its creditors. This decision is part of Celsius’ ongoing restructuring process and is aimed at offsetting the costs incurred during the bankruptcy.Celsius has been earning staking rewards from its Ethereum holdings, […]
The Securities and Exchange Commission (SEC) is intensifying its pursuit of crypto exchanges Binance and Coinbase in ongoing legal battles. To strengthen its arguments, the SEC has referenced a recent landmark case in court.In its case against Binance, the SEC filed a notice of supplemental authority, highlighting Judge Jed Rakoff’s ruling in the Terraform case. […]
CertiK Ltd., a blockchain security auditing firm, experienced a security breach when hackers gained access to its official X (formerly Twitter) account and used it to distribute phishing links to its large following. The breach was confirmed by Revoke.cash, a smart contract tool that focuses on cross-chain security.The compromised CertiK account posted tweets warning users […]
The US Securities and Exchange Commission (SEC) has filed a federal court document requesting a summary judgment ruling in its lawsuit against cryptocurrency exchange Binance. The SEC argues that specific issues raised in its case against Terraform Labs and its co-founder Do Kwon are also present in the enforcement action against Binance, Binance US, and […]
The Central Bank of Nigeria has approved the launch of the cNGN stablecoin, which is set to pilot in February. This stablecoin is being introduced as an alternative to a Central Bank Digital Currency (CBDC) and aims to bring about a revolution in remittance and global trade efficiencies.The cNGN stablecoin is expected to provide a […]
The Bank of Spain has announced its partnership with Cecabank, Abanca, and Adhara Blockchain for the pilot of the wholesale central bank digital currency (CBDC) program. Over the next six months, the pilot will simulate the processing and settlement of interbank payments using a tokenized wholesale CBDC and multiple wholesale CBDCs issued by different central […]
