Category : Finance Magnates

Finance Magnates

Coinbase Integrates AI for Enhanced Trading Automation

The growing prevalence of artificial intelligence (AI) in the trading world presents investors with many new opportunities for trade automation. The cryptocurrency exchange, Coinbase, has decided to capitalize on this by collaborating with Coinrule,...

The New Digital Gold Rush: Cryptocurrency Miners Eye AI Horizons

A few years ago, many publicly traded companies significantly transformed their business to capitalize on the growing popularity of cryptocurrency mining. Now, as the profitability of these operations becomes decidedly smaller, they are looking for a...

Exclusive: Israeli Court Accepts Transaction on Binance as Evidence in Fraud Case

An Israeli court has accepted the transactions on the crypto exchange, Binance as evidence as a part of a temporary procedure, creating a precedent in the industry. The court order also determined that opening an account under a false name with a cry...

Gemini Fires Back: Challenges SEC’s 'Inconsistent' Claims in Lawsuit

In a legal tussle at the intersection of cryptocurrency and regulation, Gemini, the American cryptocurrency exchange, has taken a formidable stance against the Securities and Exchange Commission (SEC). In a move to dismiss the ongoing lawsuit, Gemini...

Bitget's ClearLoop Integration: Institutional Traders Get Off-Exchange Settlement Solution

The cryptocurrency exchange, Bitget announced today (Friday) that it has integrated Copper's ClearLoop network. This collaboration introduces off-exchange settlement solutions to institutional clients aimed at enhancing the security of digital assets...

Melbourne-Based Crypto Lender Helio Sentenced for Misleading License Claims

The Melbourne-based cryptocurrency lender, Helio Lending Pty Ltd., has been handed a non-conviction bond for misleading claims about possessing an Australian Credit License (ACL). Helio, which offers consumers crypto-backed loans using digital assets...

Coinbase Responds to Canadian Regulations: Suspends USDT, DAI, and RAI Stablecoins

The US-based cryptocurrency exchange, Coinbase has announced its decision to halt trading of prominent stablecoins, namely Tether (USDT), Dai (DAI), and RAI Reflex Index (RAI), for its Canadian users starting from the end of this month. This signific...

SEC Gets Judge’s Nod to Argue for Appeal against Landmark Ripple Ruling

The US Securities and Exchange Commission (SEC) has crossed the first step in its effort to appeal against a trial court’s ruling stating that crypto firm Ripple’s XRP token sale on digital asset exchanges is not a security offering. Judge Analisa To...

Bankrupt BlockFi Gets Court’s Backing, Enables Withdrawal for US Customers

BlockFi, the cryptocurrency lending firm that declared bankruptcy in November last year, has secured the bankruptcy court’s approval to permit its users to withdraw their digital assets. Earlier today (Thursday), BlockFi opened the withdrawal service...

UK Crypto Firms Brace for Compliance as FCA Sets Deadline for ‘Travel Rule’ Implementation

The Financial Conduct Authority (FCA) has set out clear expectations for cryptocurrency businesses operating in the UK, outlining the necessary steps they must take to comply with the significant change in the legislation for money laundering prevent...

FTX Softens $4B Demand, Strikes $175M Settlement with Genesis

The bankrupt cryptocurrency exchange, FTX, has agreed to settle its claims dispute with equally bankrupt digital asset lender, Genesis, by accepting a payment of $175 million to Alameda Research, its affiliated insolvent crypto hedge fund. Earlier in...

OKX and CoinRoutes Alliance: Join Forces to Power Institutional Crypto Trading

The cryptocurrency exchange and Web 3 technology company, OKX has partnered with CoinRoutes, a provider of algorithmic trading strategies and execution management, to enhance crypto trading services for institutional clients.Through the partnership...

Binance.US Fights Back: Motion for Protective Order Referred to Magistrate Judge

The Federal judge presiding over the civil case between the Securities and Exchange Commission (SEC) and Binance's entities has decided to refer the matter to the magistrate court. The legal matter is part of the recent development where Binance.US,...

There's a New Kid on the Crypto Block. But will PYUSD Make a Change?

Crypto has come a long way over the past decade, and if you had to define where in its history we are right now, one possible answer would be that we’ve entered a validation phase. By which, what’s meant is that major names from traditional finance a...

Ethereum Enters the ETF Realm: Valkyrie Bids for Ether-Based ETF Approval

The Tennessee-headquartered asset management firm, Valkyrie Investments has filed for an Ethereum Strategy exchange-traded fund (ETF). This move followed the recent resurgence of the cryptocurrency sector and the growing interest from established a...

BitGo Defies Crypto Turmoil: Secures $100M Funding for Custody Services

The cryptocurrency custody company, BitGo has defied all odds to raise a substantial $100 million in a funding round, attaining a valuation of USD $1.75 billion. The funding arrived at a time the cryptocurrency sector has been marked by uncertainty...

Patience Pays: Coinbase Receives Approval for Crypto Futures Trading in the US

Following regulatory issues in the US and a lawsuit in June which suggested illegal activities within the country, the clouds over Coinbase seem to be clearing. Today (Wednesday), the platform announced that it has been granted regulatory approval fr...

SDX Leads the Charge in Adopting Crypto Digital Token Identifier Standard

The financial industry is increasingly adopting the Digital Token Identifier (DTI) ISO standard 24165, which is a unique identifier for the digital asset market. The SIX Digital Exchange (SDX) has just become the first private distributed ledger tech...

Rise of the Crypto Underdogs: ‘Low Tier’ Exchanges Gain Market Share after Binance Falters

Regulatory and legal troubles that Binance faced in the United States (and globally) have led to a significant drop in the crypto market giant's share. Surprisingly, the main beneficiaries of this situation were not the exchange's main competitors, b...

PayPal Halts UK Crypto Sales: FCA’s Stricter Rules Take Center Stage

The global online payments company, PayPal is planning to pause cryptocurrency sales for a minimum of three months starting October 1 for users in the UK. This unprecedented move is a response to the new regulations introduced by the UK’s watchdog...

Binance's Crypto Payment Wing Shuts Doors after One and a Half Years

Binance Connect, the fiat-to-cryptocurrency payments service launched by Binance in March last year, will cease operations tomorrow (Wednesday). A Binance spokesperson confirmed the development to Cointelegraph. Binance Connect Ends JourneyAccording...

Prime Trust Unravels: Files for Bankruptcy after Acquisition Intent Fails

The Las Vegas-based cryptocurrency custodian, Prime Trust has filed for Chapter 11 bankruptcy protection. This marks the latest setback for the financial technology company, which has faced a series of challenges over the past year, from regulatory i...

Binance Irked by SEC’s Move to Query CEO of US Affiliate

Binance has criticised the US Securities and Exchange Commission (SEC) for reportedly making “incredibly overbroad” and “unreasonable” demands for information over the past 45 days. The regulator’s discovery requests include demands that the Chief Ex...

Europe’s First Spot Bitcoin ETF Makes Waves on Euronext Amsterdam

The London-headquartered Jacobi Asset Management has introduced Europe's first spot Bitcoin exchange-traded fund (ETF) on Euronext Amsterdam. The company obtained approval in 2021 but delayed the launch reportedly due to unpredictable circumstances i...

Dasset Crypto Exchange Crumbles: The Ripple Effects of Regulatory Pressure

Pressure on cryptocurrency firms does not seem to decrease. Their condition is not helped by the prolonged consolidation of major assets or the tightening regulatory screws by governmental financial institutions in the USA and Europe. Problems are al...

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