Fintech firm Dave has reached an agreement to purchase a $100-million convertible promissory note from FTX Ventures, the venture capital arm of bankrupt crypto exchange FTX. The note will be bought at a discounted price of $71 million, pending approval from a bankruptcy court.Dave, a mobile application that offers financial services such as savings accounts […]
The Spanish Central Bank has announced the finalization of its partners for a six-month pilot program aimed at simulating interbank payment processing and settlement. The program will utilize a single tokenized wholesale Central Bank Digital Currency (CBDC) as well as other foreign CBDCs issued by various central banks.This pilot program is a significant step towards […]
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 ($32.2 million USD) in illegal profits.The fraud scheme was operated by ACE Exchange, one of Taiwan’s largest cryptocurrency exchanges. The exchange used its reputable image to attract […]
In 2023, North Korea’s Lazarus Group, a highly sophisticated hacking group, emerged as a major player in cybercrime, particularly in cryptocurrency theft. Accused of orchestrating hacks amounting to $600 million, the Democratic People’s Republic of Korea (DPRK) has become a prominent actor in this escalating realm. Since 2017, DPRK hackers, operating under the Lazarus group, […]
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. […]
