October 2023 - Page 2 of 2 - CryptoCurrencyWire

WednesdayOct 11, 2023 11:15 am

Binance to Sell Off Russian Operations

Crypto exchange Binance, which has been facing a series of legal challenges in recent months, has made a surprising move by selling all assets of its Russian branch to a company that was established only days before the transaction. Binance’s troubles began in June when the U.S. Securities and Exchange Commission (SEC) initiated a lawsuit against the exchange, alleging violations of securities laws. The SEC accused Binance of engaging in unregistered sales and offers of securities and misleading potential investors about controls and surveillance over manipulative trading. The lawsuit triggered a major investigation into the company's activities, and in September,…

MondayOct 09, 2023 9:00 am

Sam Bankman-Fried’s Highly Anticipated Trial Begins

Former crypto magnate Sam Bankman-Fried finds himself facing the prospect of spending several decades behind bars as his trial commences, marking one of the most substantial financial scandals in U.S. history. The 31-year-old entrepreneur, previously at the helm of one of the world's largest crypto exchanges, stands accused of embezzling vast sums from investors. Bankman-Fried catapulted to prominence after establishing FTX in 2019. He soon emerged as a leading figurehead in the crypto space, often recognized by his unruly hair, high-profile sports endorsements, and encounters with luminaries such as comedian Larry David and NFL legend Tom Brady. Bankman-Fried played the…

FridayOct 06, 2023 9:00 am

Singapore Grants Coinbase Payment Exchange License

Crypto exchange Coinbase announced on Oct. 1, 2023, that it had secured a Major Payment Institution (MPI) license from Singapore’s monetary authority, MAS. The new approval, which comes one year after the exchange’s first in-principle approval in the country, will allow Coinbase to extend its digital payment token services to Singapore citizens and institutions. The MAS stipulates that MPI-licensed companies have the green light to provide payment services without being constrained by transaction limits of $2.2 million. Additionally, the companies are exempt from the monthly transaction limit of $4.4 million for two or more payment services, as long as they…

WednesdayOct 04, 2023 6:16 pm

Crypto Fest 2023 Sparks Global Conversations on Blockchain and Cryptocurrency

Bitcoin Events proudly announces Crypto Fest 2023, the 5th annual gathering of cryptocurrency and blockchain enthusiasts. This year’s celebration of all things Web3 comes to you with Binance, the world’s largest crypto exchange, as the ‘Title Sponsor’. The event will be hosted at Cabo Beach Club in Cape Town, South Africa, on 24 November 2023. Come build the connections that will power the next evolution of the global crypto community and help promote the understanding and adoption of digital currencies and distributed ledger technology in Africa. The Crypto Fest 2023 speaking roster is stacked with the leading minds driving the…

WednesdayOct 04, 2023 9:00 am

Singapore Arrests Collapsed Crypto Hedge Fund Cofounder

Authorities in Singapore have apprehended Three Arrows Capital (3AC) cofounder Su Zhu as he attempted to leave Singapore. Teneo, the liquidator in charge of managing 3AC’s bankruptcy proceedings, released an official statement last week detailing the capture of Zhu at Changi Airport as he tried to exit the city-state. According to Teneo, Su Zhu and Kyle Davies, his cofounder, were given four-month prison terms. Currently, Davies' whereabouts remain unknown. This was a result of the Singaporean Courts’ ruling against Zhu for his deliberate noncompliance with court orders compelling him to cooperate with Teneo's investigation into the collapse of the crypto…

MondayOct 02, 2023 9:00 am

SEC Chair Fires More Criticism at Crypto in Latest Congressional Hearing

Chair of the U.S. Securities and Exchange Commission, Gary Gensler, maintained a confrontational attitude against people who advocate for cryptos during his recent hearing before a Congressional committee. He declined to respond to the most important industry questions while highlighting the carelessness exhibited by digital asset companies with regard to client holdings. Speaking before the Financial Services House Committee, Gensler reiterated his consistent disapproval of how crypto companies handle customer assets, asserting that combining these assets has yielded unfavorable outcomes. Additionally, Gensler disclosed that the commission is yet to finalize its approach to a judge's decision, which compelled the commission…