The Swiss digital exchange, SDX, has announced that Raiffeisen Schweiz, one of the largest banking groups in Switzerland, is joining its trading platform. This move comes as digital assets continue to gain popularity among institutional investors. SDX offers a comprehensive blockchain-based platform for the issuance, trading, settlement, and custody of digital securities.Raiffeisen Schweiz’s decision to […]
Vontobel, a Swiss bank, is facing significant challenges as key employees leave and its performance falters. Patrick Sege, who led the sales team in the asset management division, recently resigned without a known new position, raising concerns about the bank’s products and performance. This comes after another top executive, Daniel Seiler, also left due to […]
FTX, a defunct crypto exchange, has filed an amended Chapter 11 reorganization plan that could result in significant losses for its creditors. The plan proposes valuing the creditors’ claims based on crypto prices from November 11, 2022, the day FTX filed for bankruptcy. However, since that date, major cryptocurrency prices have increased substantially, leaving creditors […]
Cantor Fitzgerald, a prominent Wall Street firm, has been confirmed as the custodian of Tether’s reserves, strengthening confidence in the popular stablecoin. With a market capitalization exceeding $90 billion, Tether has solidified its position as a leader among stablecoins. Despite its reluctance to disclose detailed information about its reserve assets, Tether has thrived and distanced […]
FTX Debtors have submitted a revamped Plan of Reorganization, which deviates from FTX Trading’s original Terms of Service (TOS). The revised plan, filed recently, follows an agreement with creditor stakeholders reached in October.The updated Chapter 11 Plan of Reorganization, led by CEO John Ray III and legal representation from Sullivan & Cromwell, introduces a contentious […]
Tether, the stablecoin issuer, is intensifying its efforts to combat illicit crypto activities through enhanced collaboration with law enforcement agencies. The company has shared letters sent to members of the U.S. House Financial Services Committee and the U.S. Senate Committee on Banking, Housing, and Urban Affairs, outlining its commitment to fighting the illicit use of […]
Tether, the world’s largest stablecoin issuer, has reportedly frozen $435 million USDT (USD-pegged tokens) for the U.S. Department of Justice (DOJ), Federal Bureau of Investigation (FBI), and Secret Service. The CEO of Tether expressed the company’s desire to become a “world class partner” to the United States in order to “expand dollar hegemony.”This move by […]
Ripple’s Chief Legal Officer, Stuart Alderoty, has provided insights into the future of the cryptocurrency landscape, specifically focusing on 2024. He discussed predictions regarding Ripple’s ongoing legal dispute with the Securities and Exchange Commission (SEC), the potential influence of the judiciary on crypto regulations, and the challenges that may arise in Congress.Alderoty predicts that Ripple’s […]
LGT Private Banking has appointed Dushyant Bhatia as the head of key clients and family offices in Dubai. Bhatia, who previously worked as the managing director at Bank of Singapore (BoS) in Dubai for over eight years, brings with him more than 20 years of experience in the banking industry.During his career, Bhatia has worked […]
BlackRock, a prominent investment management company, has made headlines this week with two major developments in the world of technology. Firstly, the company has unveiled its new AI tool, which is set to act as a co-pilot for its operations. This innovative tool is expected to enhance BlackRock’s decision-making processes and improve overall efficiency.In addition […]
