modernsociety
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1 year ago
Lawmakers Call for Charges Against Binance and Tether Over Alleged Terrorist Financing
US lawmakers are calling on the Department of Justice (DOJ) to take action against major cryptocurrency companies Binance and Tether. They allege that these companies have facilitated illicit financial activities,…
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1 year agoFormer FTX CEO Sam Bankman-Fried Testifies in High-Stakes Fraud Trial
Former FTX CEO, Sam Bankman-Fried, is set to testify in the ongoing criminal FTX fraud trial. He is facing allegations of misusing customer and investor funds, which led to FTX’s Chapter 11 filing. B…
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1 year agoYounger Generations Embrace Crypto as Path to Financial Independence
A recent report by Coinbase sheds light on the disillusionment of younger generations, namely Gen Z and Millennials, with the traditional American dream and financial system. These young Americans are increasingly…
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1 year agoFTX CEO's Trial Nears End as Defense Presents Witnesses and Prosecution Rests Case
Attorneys representing the United States Justice Department have concluded their case against Sam “SBF” Bankman-Fried after three weeks of expert witnesses and testimonies from former FTX and Alameda employees. The…
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1 year agoJPMorgan's Digital Token, JPM Coin, Processes $1 Billion in Daily Transactions
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…
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1 year agoFormer FTX CEO Sam Bankman-Fried Testifies in FTX Fraud Trial Amid Accusations of Fund Misappropriation
Former FTX CEO Sam Bankman-Fried is set to testify in the ongoing criminal FTX fraud trial. He is facing allegations of misusing customer and investor funds, which led to FTX’s Chapter 11 filing. B…
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bob wrote a new post
1 year agoGlobal Banks Pioneer Universal Digital Payments Network for Seamless Digital Currency Transactions
Global banks Deutsche Bank and Standard Chartered are collaborating on a groundbreaking solution that could revolutionize cross-border transactions in the world of digital currencies. They are currently testing a…
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bob wrote a new post
1 year agoGlobal Banks Pioneer Universal Digital Payments Network for Seamless Digital Currency Transactions
Global banks Deutsche Bank and Standard Chartered are collaborating on a groundbreaking solution that could revolutionize cross-border transactions in the world of digital currencies. They are currently testing a…
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bob wrote a new post
1 year agoSEC Chief Gensler Highlights $5 Billion in Enforcement Actions, Criticizes Crypto Market
The United States Securities and Exchange Commission (SEC) chief, Gary Gensler, recently delivered a speech at the 2023 Securities Enforcement Forum, where he discussed the regulatory body’s enforcement actions. G…
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1 year agoCircle Partners with Taiwan Convenience Store Chain to Launch Points-to-Crypto Service
Circle, a stablecoin issuer, has formed a strategic partnership with BitoGroup and Taiwan FamilyMart, the second-largest convenience store chain in Taiwan. The collaboration aims to enhance the value of loyalty…
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1 year agoJPMorgan's JPM Coin Gains Momentum with $1 Billion in Daily Transactions, Plans Retail Expansion
JPMorgan’s digital asset, JPM Coin, has seen a surge in adoption, with daily transactions reaching $1 billion. The bank’s Global Head of Payments, Takis Georgakopoulos, revealed plans to expand the use of JPM Coi…
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1 year agoSEC Chair Gensler Warns of Increased Regulatory Scrutiny on Cryptocurrencies
Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), has expressed his strong stance on cryptocurrencies, emphasizing that most digital assets should be classified as securities. This…
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1 year agoBitcoin Price Surges Amid Speculations of US Military Involvement
Earlier this week, the price of Bitcoin (BTC) surpassed $35,000, reaching a level not seen in 17 years. Experts believe that the rally was driven by the anticipation of the Securities and Exchange Commission (SEC)…
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1 year agoAttorney Predicts Prolonged Ripple-SEC Case, Unlikely Settlement
Prominent attorney John Deaton has shared his views on the ongoing case between Ripple and the US Securities and Exchange Commission (SEC). Deaton predicts a prolonged timeline before a final judgment is reached…
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1 year agoMastercard Teams Up with MetaMask and Ledger to Enhance Crypto Utility
Mastercard has formed partnerships with MetaMask and Ledger, two self-custody crypto wallet providers, to enhance the utility of cryptocurrencies for users. This collaboration aims to simplify the process of…
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1 year agoFTX Seeks Information on Payments to Nonprofit AI Safety Organization in Bankruptcy Case
FTX, a bankrupt cryptocurrency exchange, is seeking information on millions of dollars it had previously given to the Center for AI Safety (CAIS), a nonprofit organization. FTX claims to have given $6.5 million to…
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1 year agoUK Financial Conduct Authority Cracks Down on Non-Compliant Crypto Promotions
In an effort to protect consumers, the UK Financial Conduct Authority (FCA) has issued a warning regarding common issues observed in promotions for crypto assets. The FCA has implemented a new marketing regime,…
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1 year agoSBF's Testimony Extends Trial, Raises Stakes in FTX Legal Battle
Sam Bankman-Fried’s trial is set to resume on October 27, with the prosecution bringing its final witnesses before resting its case. The prosecution initially expected the trial to conclude by October 30, but now b…
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1 year agoUK Financial Regulator Reports Over 200 Breaches of Crypto Marketing Rules
Crypto-promoting firms in the United Kingdom have been found to be in breach of the country’s new crypto marketing rules on multiple occasions. According to the Financial Conduct Authority (FCA), these firms have v…
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1 year agoHashdex Meets with SEC to Address Concerns Over Bitcoin Futures ETF Application
Asset manager Hashdex recently met with the U.S. Securities and Exchange Commission (SEC) to address concerns about its application for a Bitcoin Futures exchange-traded fund (ETF). The meeting, which took place on…
