The bankrupt crypto lender, Celsius, has announced that it will be recalling and rebalancing its assets as part of its restructuring process. This includes unstaking nearly $470 million worth of Ether (ETH) in order to ensure liquidity and offset expenses.Celsius stated that the staked ETH has provided valuable staking rewards income to the estate, and […]
Swiss banking giant UBS is making significant moves to strengthen its position in the Middle East. The bank has appointed a new management team for its investment banking division in the region, signaling its ambitions for expansion. Additionally, UBS has hired a veteran from Deutsche Bank for its wealth management division, further indicating its commitment […]
Swiss banking giant UBS is making significant moves to strengthen its position in the Middle East. The bank has appointed a new management team for its investment banking division in the region, signaling its ambitions for expansion. Additionally, UBS has hired a veteran from Deutsche Bank for its wealth management division, further indicating its commitment […]
The United States Securities and Exchange Commission (SEC) has filed a motion in federal court requesting a summary judgment ruling in its case against cryptocurrency exchange Binance. The SEC argues that a recent ruling in a similar case against Terraform Labs and its co-founder Do Kwon supports its enforcement action against Binance, Binance.US, and former […]
A recent survey conducted by ETF issuer Bitwise reveals that only 39% of U.S.-based financial advisers believe that a spot Bitcoin exchange-traded fund (ETF) will be approved this year. The survey, which included participants such as registered investment advisers, financial planners, institutional investors, and wirehouse representatives, asked several questions regarding the approval timeline for a […]
Speculation is running high on social media that the U.S. Securities and Exchange Commission (SEC) is on the verge of approving a spot Bitcoin exchange-traded fund (ETF). This speculation has been fueled by a tweet from Grayscale’s legal chief and a tweet from a TechCrunch reporter citing sources close to the matter. While some analysts […]
Embattled crypto lending platform Celsius has announced that it is recalling and rebalancing its crypto assets, including Ether (ETH), in preparation for distributing funds to creditors. The company, which has been in bankruptcy court since filing for Chapter 11 in July 2022, is shifting assets to ensure ample liquidity for the distribution process.Celsius plans to […]
The Central Bank of Nigeria (CBN) has given approval to the Africa Stablecoin Consortium (ASC) to pilot the cNGN stablecoin in its regulatory sandbox. The cNGN stablecoin, developed by a collaboration of Nigerian banks and fintech operators, is set to launch on February 27, 2024.The Africa Stablecoin Consortium has stated that the cNGN stablecoin complies […]
For the second consecutive year, banks worldwide have generated more revenue from financing environmentally friendly projects than from traditional fossil fuel businesses. In 2023, the largest banks globally saw their revenue from financing green projects surpass that from the traditionally dominant fossil fuel sector.According to Bloomberg, leading lenders generated around $3 billion from green loans […]
The fundraising of US venture capital firms has fallen to its lowest level in six years, putting pressure on start-ups. American venture capital firms raised $67 billion last year, the lowest annual value since 2017. This represents a 60% decline from the record $173 billion raised in 2022, according to an analysis by private market […]
