Crypto regulation Archives

CFTC Sues Binance and Its CEO for Alleged Violations of US Trading Laws

Written on March 27, 2023.

In Brief: The CFTC has sued Binance CEO Changpeng Zhao and his crypto empire for allegedly violating US trading and derivatives laws. The CFTC accuses Binance of having an “ineffective compliance program” and claims it “knowingly” broke the law. Bitcoin plunged below $27,000 after the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and its founder Changpeng Zhao over allegations that the exchange knowingly...

Binance, Crypto regulation, Cryptocurrencies, Exchanges, Front page, Main

Barney Frank: Signature Bank’s closure was a message that “Crypto is toxic.”

Written on March 14, 2023.

Barney Frank’s Claims An ex-congressman and the man behind the Dodd-Frank Act, Barney Frank, has said that Signature Bank was shuttered in part to attack the digital asset industry. The former lawmaker, who is also a Signature Bank board member, said that regulators targeted the bank to send an “anti-crypto message.” Third-Largest Bank Failure in U.S. History Signature Bank’s closure marks the third-largest bank failure in...

Bankruptcy, Crypto regulation, Cryptocurrencies, People, Signature Bank, Silicon Valley Bank (SVB)

Silvergate Bank’s crisis affects several crypto platforms

Written on March 2, 2023.

In Brief: Silvergate Bank warned that it may not be able to continue as a going concern due to its losses from the FTX exchange’s default. Several crypto platforms, including Coinbase, Paxos, Crypto.com and Galaxy Digital, have suspended their operations with Silvergate Bank as a precautionary measure. The bank’s share price plummeted by nearly 50% on Thursday, raising doubts about its survival and reputation in the crypto space. The...

Bankruptcy, Crypto regulation, Front page, FTX, Main

Keanu Reeves: “The principles and ideas behind an independent currency are amazing”

Written on February 21, 2023.

Keanu Reeves is not just an accomplished actor but also an advocate of cryptocurrency. In a recent interview, the Hollywood star talked about how much he liked the ideas and principles behind an independent currency and how important it was to improve its ways of keeping people safe. The Value of Crypto Reeves’ interest in cryptocurrencies goes beyond their market value. He thinks that crypto is an alternative to the traditional financial...

Bitcoin, Crypto adoption, Crypto regulation, Cryptocurrencies, Hacks, People

Hong Kong’s New Rules on Crypto Trading Platforms

Written on February 20, 2023.

The Securities and Futures Commission (SFC) of Hong Kong has announced new rules for platforms that let people trade cryptocurrencies. The SFC is soliciting feedback on whether licensed platforms should be allowed to serve retail investors and what consumer protection measures should be put in place. The plan is a response to the fact that trading in cryptocurrencies is becoming more and more popular and that the industry needs more oversight. SFC’s...

Bitcoin, Crypto adoption, Crypto regulation, Cryptocurrencies, Front page, Main

Crypto Today: crypto market corrects; bitcoin ordinals; celebrity clout

Written on February 15, 2023.

Crypto Correction Even as the S&P 500 hits new highs, the crypto market as a whole keeps going down, which worries investors. Stablecoins are about to be regulated, and regulators just cracked down on them. This has made investors even more nervous, but George Soros’s recent investments in MicroStrategy and Marathon Digital have given them some hope. Professional traders are advised to monitor Bitcoin derivatives metrics and futures...

Bitcoin, Crypto adoption, Crypto regulation, Cryptocurrencies

Genesis Block to Halt Operations Amid Potential FTX Repercussions

Written on November 24, 2022.

The FTX’s contagious impact continues to spread across the cryptocurrency sector. Genesis Block, once Asia’s biggest Bitcoin ATM provider, is one of the enterprises in the cryptocurrency industry suffering from the FTX crash. According to a Reuters report, which was picked up by other media outlets, the business notified its customers via email that it would stop its OTC trading facility on December 10. OTC trading, also known as...

Bankruptcy, Crypto adoption, Crypto regulation, Cryptocurrencies, Exchanges, Front page, Main

Crypto Contagion: Bank of America downgrades Coinbase to Neutral, COIN down 7%

Written on November 21, 2022.

Bank of America (BofA) has downgraded the shares of Coinbase, a cryptocurrency exchange platform, after the collapse of the FTX cryptocurrency exchange, while warning of contagion risks in the volatile industry. Coinbase told its customers that the company is not exposed to FTX. However, Sam Bankman-failure Fried’s exchange’s continues to impact the whole market. According to Yahoo! Finance, Jason Kupferberg, senior equities...

Coinbase, Crypto regulation, Cryptocurrencies, Front page, FTX, Main

Kevin O’Leary: Idiot managers always get wiped out and that’s okay

Written on November 14, 2022.

Bitcoin is held mainly by individuals, some family offices, and some hedge funds, but in the context of what can be a nothingburger. Is Bitcoin a hedge against inflation? So far it has not worked despite the absence of regulation, as it is not being indexed. It may be a chicken and egg conundrum, and may be more valuable than gold. However, institutions are allowed to own gold, and they own up to five percent of allocations or ETFs that...

Bitcoin, Crypto adoption, Crypto regulation, Cryptocurrencies, Ethereum, FTX, People

FTX fallout - I fucked up - Sam Bankman-Fried

“I F*cked Up,” Declares FTX’s Founder

Written on November 11, 2022.

According to Sequoia Capital, Bankman-Fried, 30, CEO of FTX crypto exchange, was ready to become the world’s first “trillionaire.” This week, FTX openly crumbled. Three days before, the letter said that “a rival is attempting to use fake information against us,” presumably targeting Binance. Before removing it, he tweeted, “FTX is ok and assets are fine.” Later, the biggest cryptocurrency exchange...

$FTT, Binance, Crypto regulation, Exchanges, Front page, FTX

Tag: Crypto regulation