Tether, the largest issuer of stablecoin USDT, has implemented a new policy to freeze crypto wallets associated with individuals and entities sanctioned by the US Treasury’s Office of Foreign Asset Control (OFAC). This move aims to strengthen the positive usage of stablecoin technology and promote a safer stablecoin ecosystem.An analysis of the Ethereum blockchain reveals […]
New York Attorney General Letitia James has reached a $22 million settlement with KuCoin, one of the world’s largest cryptocurrency exchanges. The agreement resolves a lawsuit that accused KuCoin of operating without proper registration as a securities and commodities broker-dealer, in violation of state laws.As part of the settlement, KuCoin will refund over $16.7 million […]
Rostin Behnam, the chairman of the US Commodity Futures Trading Commission (CFTC), has expressed concerns about the lack of clear regulatory guidelines for cryptocurrencies in the United States. He believes that many cryptocurrencies should be considered commodities under existing laws. Behnam argues that the rapid development of this new technology requires a fresh approach to […]
The Financial Accounting Standards Board (FASB) has released a new Accounting Standards Update (ASU) aimed at improving the accounting and disclosure of specific crypto assets. This update is in response to feedback from stakeholders who have emphasized the need for better accounting practices in the crypto asset space.The ASU covers all assets defined as intangible […]
The Financial Accounting Standards Board (FASB) has released a new Accounting Standards Update (ASU) aimed at improving the accounting and disclosure of specific crypto assets. This update comes in response to feedback from stakeholders who have emphasized the need for better accounting practices in the crypto asset space.The ASU covers all assets defined as intangible […]
A security engineer named Shakeeb Ahmed has pleaded guilty to carrying out two DeFi hacks on the Solana blockchain, resulting in the theft of over $12 million. The first attack occurred in July 2022, when Ahmed targeted an unnamed decentralized exchange and generated $9 million through inflated fees. He agreed to return all but $1.5 […]
Valkyrie Investments has filed an amended Form S-1 with the Securities and Exchange Commission (SEC) for its Valkyrie Bitcoin Fund. The filing includes enhanced custody and valuation rules, as well as updates to the fund’s index and basket size. The fund will now value its Bitcoin holdings using the CME CF Bitcoin Reference Rate – […]
Valkyrie Investments has filed an amended Form S-1 with the Securities and Exchange Commission (SEC) for its Valkyrie Bitcoin Fund. The filing includes enhanced custody and valuation rules for the cryptocurrency investment vehicle, as it awaits regulatory approval to trade on Nasdaq.The amended filing updates the index used to value the fund’s Bitcoin from Lukka […]
TMX Group, the operator of Canadian stock exchanges, is set to acquire VettaFi, a major player in the exchange-traded fund (ETF) industry. The deal, valued at $1.03 billion, will see TMX Group acquire the remaining 78% of VettaFi’s common units. This acquisition will enhance TMX Group’s information business and provide new capabilities in the ETF […]
The US national debt has skyrocketed by $6.7 trillion in just three years, reaching a staggering total of nearly $34 trillion. This alarming increase raises concerns about the country’s fiscal health and economic sustainability. According to Bank of America research, the debt-to-GDP ratio currently stands at approximately 100%, a level not seen since World War […]
