The Swiss banking sector is making headlines with the announcement of cryptocurrency services. The Lucerne Cantonal Bank (LUKB) made the first move by announcing a crypto offering for early 2024. This week, the Zuger Kantonalbank (ZugerKB) has taken the spotlight by offering immediate trading and custody services for six selected cryptocurrencies. This was made possible […]
The highly anticipated trial of disgraced FTX founder Sam Bankman-Fried (SBF) has not gone well for the former billionaire. The U.S. Department of Justice (DOJ) is leading the prosecution, portraying Bankman-Fried as a central player in a fraudulent scheme. Key testimonies, especially those from FTX’s current leadership, have proven particularly damaging.Gary Wang, FTX co-founder, confessed […]
The Sam Bankman-Fried trial began on October 4th, with the United States Department of Justice (DOJ) and the former FTX CEO’s defense presenting their arguments to the 12-person jury. The DOJ accused Bankman-Fried of deliberately lying to investors to enrich himself and expand his crypto empire, while the defense argued that he was a young […]
Kraken, a prominent virtual currency exchange network, has declared its intention to acquire Coin Meester B.V. (BCM), a respected crypto broker based in the Netherlands. This strategic acquisition aims to cement Kraken’s foothold in the European region while enhancing compliance with the changing regulatory climate.BCM was established in 2017 and has already listed 170 different […]
The Canadian Securities Administrators (CSA) has provided guidance to the trading of stablecoins on crypto exchanges in the country. The update comes months after major exchanges, including Binance, halted operations in the country due to regulatory developments.The CSA has acknowledged that stablecoins, which it terms as “value-referenced crypto assets,” may constitute securities or derivatives. The […]
The Securities and Futures Commission (SFC) of Hong Kong has teamed up with the Hong Kong Police Force (HKPF) to form a working group that aims to combat illegal activities on virtual asset trading platforms (VATPs). The group is composed of representatives from the SFC’s Enforcement Division and Intermediaries Division and HKPF’s Commercial Crime Bureau, […]
The U.S. Commodity Futures Trading Commission (CFTC) has determined that Stephen Ehrlich, a co-founder of Voyager Digital, violated derivatives regulations before the company’s bankruptcy last year. The CFTC’s enforcement division has recommended formally accusing Ehrlich of providing customers with misleading information regarding the safety of their assets. Ehrlich has stated that the anticipated lawsuit “angered […]
The cryptocurrency market saw a lot of important developments this week, with its total capitalization now hovering around $1.14 billion. Bitcoin’s price went through a rollercoaster, trading at around $27,000 last week and then soaring to around $28.5K on Monday. Unfortunately, the bulls were unable to maintain the pressure, and the bears took control, pushing […]
Binance, the world’s leading cryptocurrency exchange, has seen its spot market share decline for the seventh consecutive month. According to data from CCData, the exchange’s spot market share fell from 38.5% in August 2023 to 34.3% in September 2023.The trading volume that Binance lost went to other cryptocurrency exchanges such as HTX (formerly Huobi), OKX, […]
The United States Commodity Futures Trading Commission (CFTC) is reportedly considering an enforcement action against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital. The CFTC staff are allegedly looking into claims that Ehrlich violated U.S. derivatives regulations prior to Voyager’s bankruptcy filing in July 2022. Ehrlich has denied the allegations, claiming that […]
