NewsRoom Articles - Page 39 of 187

FridayApr 05, 2024 9:00 am

Convicted Bankman Fried Sentenced to 25 Years in Jail

The cofounder of the now-collapsed cryptocurrency exchange FTX, Sam Bankman-Fried, received a 25-year prison term for deceiving investors and customers. The verdict marks the final blow to the once-wealthy entrepreneur, who gained prominence in the crypto sphere before his company’s sudden downfall in 2022. His legal team intends to challenge the verdict. A statement from Bankman-Fried parents, relayed by a spokesperson to the BBC, expressed their devastation and commitment to fighting for their son’s cause. During his court appearance, the 32-year-old acknowledged the disappointment felt by many, expressing remorse for the events that unfolded. FTX had risen to become one…

WednesdayApr 03, 2024 9:00 am

The SEC Notches Significant Victory in Case Against Coinbase

A recent court ruling in the lawsuit between the United States Securities and Exchange Commission (SEC) and Coinbase Global Inc. (NASDAQ: COIN) marks a significant development, allowing the SEC’s claim of unregistered securities sales against the crypto exchange to proceed to a jury trial. Following the decision by a Manhattan federal judge on March 27, 2024, Coinbase experienced a decline of approximately 2.5% in its share price. The SEC initiated legal action against the exchange in June, alleging that the entity operated as an unregistered exchange and broker. Additionally, the SEC sought to permanently restrain Coinbase from continuing these activities.…

MondayApr 01, 2024 9:00 am

Experts Discuss How Public Trust, Transparency Can Be Bolstered in Cryptocurrency Markets

Recent disclosures about money laundering, dishonesty and fraudulent activity by Binance, FTX and other organizations have seriously damaged public trust in the crypto asset market, especially concerning trading platforms. Rebuilding trust demands a firm commitment to safeguarding investors’ interests and transparency. Bruce Tupper, president and creator of CoinRegTech, and Tyler Williams, Galaxy’s head of legislative and regulatory affairs, offer insights on how these can be achieved in cryptocurrency markets. They propose two key measures — Off-Chain Transaction Reporting and Proof of Reserves (PoR) Reporting — as essential steps for trading sites to adopt. These measures would enhance transparency and protect…

FridayMar 29, 2024 5:57 am

Blockchain Life Forum 2024 in Dubai: find out how to make the most of the current Bull Run

The highly anticipated Blockchain Life Forum 2024 is set to take place in the vibrant city of Dubai on April 15-16. Welcoming industry professionals and crypto enthusiasts from around the world, this legendary event promises to be an unforgettable experience. This time the central topic of the forum will be making money on Bull Run, which has already begun. Forum speakers and attendees will share analytics and experience: which coins to buy and sell, which coins are worth investing in now, and which are better not to invest in. More than 8,000 people from more than 120 countries take part…

WednesdayMar 27, 2024 9:00 am

EU Begins Implementing Ban on Unverified Cryptocurrency Wallets

The European Union has put forth a new guideline barring cryptocurrency transactions done via noncustodial wallets lacking verification as part of its broader Anti-Money Laundering (AML) regulations aimed at tackling financial crimes. The majority of the European Union Parliament’s primary commission approved the move on March 19, 2024, showcasing a united front against undisclosed transactions. The measure specifically targets transactions routed via self-custody wallets lacking proper identification, including those made using internet applications, mobile phones or desktops. The directive seeks to close the gap exploited for anonymous fund transfers, a method commonly associated with illicit activities. A core tenet of…

MondayMar 25, 2024 9:00 am

How Crypto, AI are Influencing Future of Finance

In recent years, the landscape of cryptocurrency has witnessed significant transformations. In addition to the stimulus-fueled boom of 2021, venture capital (VC) companies invested an astounding $33 billion in blockchain and cryptocurrency startups. However, subsequent events such as the Federal Reserve’s interest rate hikes triggered a series of bankruptcies and collapses within the crypto market, including Terra (LUNA) and FTX. Further, despite initial optimism, the concept of Decentralized Finance (DeFi) encountered setbacks, including more than $3 billion in losses due to DeFi hacks in 2023. Moreover, the ongoing Bitcoin bull run underscored a lack of confidence in alternative coins. Yet,…

FridayMar 22, 2024 2:54 pm

Crypto Assets Conference 2024 (CAC24A) Unveils a New Era of Digital Transformation

The Frankfurt School Blockchain Center is pleased to announce the 10th Crypto Assets Conference (#CAC24A), set to illuminate the digital assets landscape on April 16, 2024. During the current surge of bitcoin, the tokenization of digital assets, and the creative use of blockchain technology, cryptocurrencies are reshaping the financial industry by questioning traditional norms. The #CAC24A is paving the way for a future characterised by innovation and exploration. As industries evolve, the Crypto Assets Conference (#CAC24A) gathers sector specialists, corporate pioneers, and trailblazing entrepreneurs to explore the cutting-edge of DLT, blockchain, and crypto assets. Key Highlights: 🗓️ Event Dates: April…

FridayMar 22, 2024 9:00 am

Crypto Funds Notch $2.9B Record in Weekly Inflows

Digital-asset investment products attracted a substantial $2.9 billion in funds during the week spanning March 11–15, 2024, surpassing the prior record of $2.7 billion, as reported by CoinShares. Year-to-date, these inflows have reached $13.2 billion, outpacing the total inflows seen in 2021, which amounted to $10.6 billion. Throughout this period, trading volumes hit $43 billion, marking a record for the previous week and accounting for more than 47% of all Bitcoin volumes worldwide. Additionally, blockchain investments saw a notable turnaround, with inflows of $19 million after six consecutive weeks of outflows. The United States topped the regional rankings with $2.95…

WednesdayMar 20, 2024 9:00 am

El Salvador Could Join List of Wealthiest Nations Because of BTC Holdings

El Salvador, a small yet densely populated nation in Central America, is poised to potentially emerge as one of the world’s wealthiest countries, thanks to its Bitcoin reserves. In September 2021, El Salvador made history by becoming the first country to embrace Bitcoin as legal tender. Subsequently, in November 2022, President Nayib Bukele announced the government’s decision to purchase a Bitcoin daily. Despite facing criticism, President Bukele’s move has proven fruitful, with the government now holding more than 2,000 Bitcoins, valued at more than $150 million. The head of state also noted that there were no intentions to sell the…

MondayMar 18, 2024 9:00 am

Thailand OKs Bitcoin ETFs as Restrictions on Listed Cryptos Ease Globally

Thai authorities have announced a shift in their approach to digital asset investment, permitting money managers to introduce private funds dedicated to U.S. Bitcoin spot exchange-traded funds (ETFs). However, this allowance extends solely to institutional investors and high-net-worth individuals. Though its usage is still restricted, retail cryptocurrency trading is nonetheless widespread in the nation. In 2022, the government prohibited the use of cryptos for payments, and in July last year, it prohibited their use for investment and lending. In an earlier stance articulated in January, regulatory bodies explicitly prohibited investment companies from directly engaging in Bitcoin ETFs for their clientele.…