July 2023 - Page 2 of 2 - CryptoCurrencyWire

WednesdayJul 12, 2023 3:38 pm

Mining Disrupt 2023: The World´s Largest Bitcoin Mining Conference and Expo is back in Miami this summer from July 25th – 27th and it will be their biggest edition yet!

With an incredible lineup of sponsors and exhibitors, it promises to be, once again, the go to yearly event for the Mining Community. “What started as the Mining Disrupt telegram group for miners over 6 years ago, turned into our first official trade show in 2019, and now, we are thrilled to be celebrating our 5th year anniversary. What an amazing ride! We are very thankful for all the support.” said Michael Cruz, founder and co-owner. This year, PEGA Pool was announced as the Powered by Sponsor. They are revolutionizing one of the most important industry sectors by offering the…

WednesdayJul 12, 2023 10:30 am

Binance Hit as Top Executives Quit

Binance, the world's largest cryptocurrency exchange, has recently experienced a wave of executive departures amid a series of legal and regulatory challenges. Several high-ranking officials have announced their resignations through social media posts and media outlets, dealing another blow to the embattled exchange. Patrick Hillmann, the chief strategy officer, took to Twitter on Thursday to announce his departure from Binance, citing personal reasons as the motive behind his decision. In a similar fashion, Steven Christie, a compliance executive who joined the company in May 2022, tweeted on Friday that he was leaving due to exhaustion and a desire to prioritize…

MondayJul 10, 2023 12:00 pm

Bittrex Wants SEC Lawsuit Dismissed

Bittrex has taken a significant step in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) by filing a request to dismiss. The cryptocurrency exchange had filed for bankruptcy earlier this year citing regulatory pressure from the commission. In its recent filing, Bittrex makes the case that the SEC lacks the jurisdiction to regulate cryptos as securities sans a specific Congressional authorization. This claim contests how the SEC has interpreted current securities laws and aims to create a clearer regulatory framework that considers digital assets’ classification. Bittrex has followed Coinbase's lead in its request to dismiss, closely…

FridayJul 07, 2023 10:30 am

To Protect Investors, Thailand Opts to Ban Lending by Cryptocurrency Exchanges

Thailand has become the second country in southeast Asia to announce a ban on cryptocurrency exchanges that offer lending services, aligning with the country’s commitment to safeguarde investors in the crypto market. The Thai Securities and Exchange Commission (SEC) issued a statement on July 3, 2023, outlining the new rules. The ban explicitly targets "depository services that promise returns to lenders and depositors," effectively barring exchanges from offering both staking and lending options. To enhance transparency and risk awareness, the Thai SEC has introduced a mandatory disclaimer, requiring exchanges to prominently display the message: "Cryptos are high risk. Please thoroughly…

WednesdayJul 05, 2023 9:45 am

King Charles Signs Crypto Bill into Law

Last week, King Charles signed the Financial Services and Markets measure, completing the process for the measure to become law and giving regulators the power to monitor cryptocurrencies and stablecoins. This step, known as royal assent, is merely a procedural formality following the lawmakers' agreement and effectively transforms the bill into the Financial Services and Markets Act. Hailed as a vital component of the government's vision, the HM Treasury asserts that the act plays a central role in fostering an open, sustainable and technologically advanced financial services sector. Financial Services Minister Andrew Griffith emphasized that the act provides the United…

MondayJul 03, 2023 11:15 am

Team Managing Bankrupt FTX Announces Recovery of Nearly $7B in Assets

The FTX bankruptcy team has recently published a comprehensive report that delves deep into the financial intricacies of the collapsed exchange. According to their findings, a sizable debt of $8.6 billion was owed to clients as a result of the mixing and theft of their deposits. Surprisingly, senior executives had already made conscious efforts to hide these financial difficulties in August 2022. According to the report filed last week, a substantial portion of the funds, approximately $6.5 billion, consisted of misappropriated stablecoins and fiat currency. However, there is some positive news as well, as $7.1 billion worth of assets have…