The NFT market is showing signs of recovery, with monthly sales volumes increasing for the first time in a year. In October, trading volume grew by 32%, reaching $405 million. However, this is still lower than the volume seen in March. Ethereum-based NFTs continue to dominate the market, with a growth of over 50% in […]
The founder of FTX, Sam Bankman-Fried, has been convicted on seven counts of fraud and conspiracy. After a month-long trial in federal court in New York City, Bankman-Fried was found guilty of cheating investors and customers out of over $10 billion through FTX and his cryptocurrency trading firm, Alameda Research. The charges against him carry […]
XRP, the cryptocurrency associated with Ripple, experienced a significant surge in price, rising over 8% in the past 24 hours. This surge propelled XRP to become the fourth-largest cryptocurrency by market capitalization, temporarily displacing Binance Coin (BNB) from its position.The price rally appears to be a reaction to two key developments concerning Ripple. Firstly, the […]
John Deaton, a prominent crypto lawyer and founder of Crypto Law, has shared his opinion on the ongoing lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). According to Deaton, a settlement of $20 million or less in the lawsuit would be a 99.9% legal victory for Ripple. He argues that those […]
JPMorgan Chase & Co. has achieved a significant milestone in its blockchain initiative with its digital token, JPM Coin, now processing $1 billion worth of transactions daily. The coin, which operates on Quorum, a private blockchain developed by the bank, enables instant payments between clients with accounts at JPMorgan. Each JPM Coin is pegged 1:1 […]
PayPal, the global payments firm, has received a subpoena from the US Securities and Exchange Commission (SEC) regarding its PYUSD stablecoin. The subpoena requests the production of documents, and PayPal has stated that it is cooperating with the SEC in connection with this request. This comes as regulatory scrutiny around stablecoins increases, with Circle, the […]
The National Bank of Georgia (NBG) has partnered with Ripple to launch a pilot program for a central bank digital currency (CBDC) called the Digital Lari. Ripple’s CBDC platform, built on a private version of the XRP ledger, will enable the NBG to mint, manage, and redeem CBDCs in a flexible and scalable manner. The […]
Sam Bankman-Fried, the founder of FTX, a crypto exchange that collapsed last year, has been found guilty on all counts in his fraud trial. A federal jury convicted Bankman-Fried on seven criminal charges, including wire fraud, securities fraud, conspiracy, and money laundering. Prosecutors accused him of stealing billions in customer funds from FTX to cover […]
FTX, a bankrupt crypto exchange, has requested the U.S. bankruptcy court of Delaware to approve the sale of trust assets worth approximately $744 million. These assets include funds from Grayscale and Bitwise. The sale is intended to facilitate dollarized distributions to creditors and enable the exchange to quickly sell the assets at the right time. […]
Bankrupt crypto exchange FTX and its debtors have requested the U.S. bankruptcy court of Delaware to approve the sale of trust assets worth approximately $744 million. The assets include funds from Grayscale and Bitwise. The sale is intended to facilitate forthcoming distributions to creditors and enable the debtors to quickly sell the assets at the […]
