Category : Finance Magnates

Finance Magnates

FCA Provides 4 'Legal Routes' for Compliance with Upcoming Crypto Promotion Rules

The UK financial watchdog has said crypto firms in the country will have four “legal routes” through which they can comply with its rules for digital assets promotion coming into force on October 8, 2023. The Financial Conduct Authority (FCA) stated...

Bitcoin Maintains Pole Position among Retail Traders in Q2 despite Market Fluctuations

Bitcoin (BTC) upheld its rank as the most-held crypto asset by retail traders in the second quarter of 2023. This surge was contrary to the broader market's trends, with Bitcoin's revival in price movement noted in the trading and investing platform'...

South Korean Crypto Exchanges Unveil System for Checking Market Volatility

A group of South Korea’s major cryptocurrency exchanges has launched a system that alerts users of abnormal changes in the prices of cryptocurrencies. The alliance, dubbed the Digital Asset Exchange Association (DAXA) and comprising Upbit, Bithumb, C...

Bitget Steps into Cryptocurrency Lending with Dual-Coin Approach

The cryptocurrency trading platform, Bitget, has launched a new product 'Crypto Loans' in response to the growing demand for digital lending solutions. This venture is expected to appeal to those users who have been discouraged by the credit offering...

Regulatory Uncertainty Forces Revolut to Delist 3 Cryptos

Revolut has become the latest trading platform to progress towards delisting three cryptocurrencies, Cardano’s ADA, Polygon’s MATIC, and Solana’s SOL, on behalf of its customer in the United States. However, the platform will continue to support thes...

FTX to Launch Claims Portal for Customers ‘In the Coming Weeks’

The bankrupt cryptocurrency exchange, FTX, has said it will launch a portal “in the coming weeks” for customers owed by the global crypto trading platform, FTX.com and its affiliates to state their claims. The exchange stated this on a website, claim...

Thailand’s SEC Bans Crypto Lending, Demands Risk Warning Disclosure

Thailand’s securities watchdog today (Monday) issued new rules that ban cryptocurrency firms from offering crypto lending services that provide returns to investors for their deposits. The rules also demand that digital asset operators from July 31,...

Belarus Plans to Ban P2P Crypto Transactions over Digital Fraud

Belarus is planning to ban cryptocurrency exchange transactions between individuals due to an increase in crime. The country is also planning to implement procedures such as those applicable to foreign currencies which make it impossible to withdraw...

Singapore Proposes New Measures for Digital Payment Token Services

The Digital Payment Token (DPT) service providers in Singapore may be required to safely keep customers' assets under a statutory trust before the end of the year. This is according to new measures announced today (Monday) by the country's financial...

OKX, Man City Sign $70M Deal after Shaking Off Club’s FTX-Related Fears

OKX has expanded its deal with Manchester City through a new three-year agreement that makes it the popular English football club’s Official Sleeve Partner. The new deal is worth $70 million, the Seychelles-based cryptocurrency exchange told CoinDesk...

SEC Dismisses Latest Spot Bitcoin ETF Applications as Inadequate

The Securities and Exchange Commission (SEC) has reportedly dismissed recent applications by various asset managers to launch spot Bitcoin (BTC) exchange-traded funds (ETFs). According to sources who shared information with The Wall Street Journal...

Canadian BTC Miner HIVE's Revenue Halves from Record High

HIVE Blockchain Technologies Limited, the Canada-based publicly-traded company that mines pioneer cryptocurrency, Bitcoin, saw its revenue plunge roughly 50% at the end of its 2023 fiscal year ended March 31. The Nasdaq-listed firm’s revenue came in...

The Potential of Crypto to Drive Economic Growth and Development in Emerging Markets

In recent years, cryptocurrency, a digital form of currency that runs independently of central banks, has received a lot of attention and appeal. While the impact of bitcoin on established economies is frequently addressed, the potential of cryptocur...

Crypto-Backed Loans and Lending Platforms: Unlocking the Potential of Digital Assets

The rise of cryptocurrencies in recent years has resulted in the emergence of novel financial services that use the potential of digital assets. Crypto-backed loans, which allow individuals to unlock the value of their cryptocurrencies without having...

UK Adopts Crypto and Stablecoins as Regulated Financial Activity

A bill that aims to regulate cryptocurrencies and stablecoins in the UK has been approved by King Charles III. Dubbed the Financial Services and Markets Act 2023, the new law classifies the trading of cryptocurrencies as a regulated activity and brin...

New Zealand’s Central Bank Does Not Want Crypto Regulations

The Reserve Bank of New Zealand issued a statement today (Friday) to notify its intention to increase the monitoring of stablecoins and crypto assets. However, the central bank does not believe in bringing regulatory oversight to the industry. No Nee...

Fidelity Officially Submits Its Spot Bitcoin ETF Application

Fidelity has joined other US companies to resubmit its application for a Bitcoin spot exchange-traded fund (ETF) called Wise Origin Bitcoin Trust. The asset management giant officially filed its paperwork for the spot Bitcoin ETF with the Securities...

CME to Launch Crypto Ratio Futures as Cboe Eyes Fidelity’s Spot BTC ETF

Chicago Mercantile Exchange (CME), one of the world’s largest derivatives marketplaces, plans to launch crypto Ether (ETH)/Bitcoin (BTC) ratio futures on July 31, 2023. This is even as Cboe BZX Exchange, one of four equities exchanges operated by Cbo...

Coinbase Dismisses SEC Allegations, Claims ‘Extraordinary Abuse of Process’

Coinbase, a cryptocurrency exchange, has filed a response against the allegations from the Securities and Exchange Commission (SEC), saying the claims “lack all merit.” It also argued that even if the SEC’s assertion of regulatory power over its cryp...

Germany Joins Anti-Binance Sentiment, BaFin Rejects License Application

After the United States declared open war on cryptocurrency exchange Binance, Europe is also proving to be an increasingly unfriendly territory for the digital asset market giant. Owned by Changpeng Zhao (CZ), the platform had hoped that Germany woul...

ARK Invest Joins BlackRock and Fidelity in Race for Bitcoin ETF

When the world's largest fund manager, BlackRock, decided to apply for the creation of a spot Bitcoin (BTC) exchange-traded fund (ETF) two weeks ago, nobody expected it to trigger a new fever in the cryptocurrency market.The BTC price reached new hig...

Binance Loses Major EUR Banking Partner amid Regulatory Concerns

Binance has announced that its euro banking partner, Paysafe Solutions, will stop supporting payments for the cryptocurrency exchange from September 25. The development follows concerns by the UK's financial regulator over Binance's use of the coun...

Uniswap V4: Powerful New Features and Controversial Code Allegations

Uniswap, among the top decentralized exchanges (DEX) released the draft code for its latest version, Uniswap V4. The code has been released as the developers wish V4 to be built in public. Launched in 2018, Uniswap is one of the most known DEX for tr...

Has BlackRock Flipped the Crypto Script?

It wasn’t so long ago (earlier this month) that the US appeared to be following a path of outright hostility towards the crypto industry, seemingly keen to force out crypto-native enterprises even as several other regions around the world were openin...

How Can Blockchain Technology Disrupt Supply Chain Finance?

Supply chain finance is essential for ensuring smooth transactions and cash movement amongst supply chain players. The traditional supply chain finance system, on the other hand, is frequently plagued by inefficiencies, a lack of transparency, and ex...

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