NewsRoom Articles - Page 41 of 181

MondayOct 16, 2023 9:00 am

StanChart Predicts Five Times Rise in Value of Ether by 2026

Ether, the world's second-largest crypto, could potentially witness a remarkable surge in its value, soaring more than fivefold by 2027, as projected by Standard Chartered. According to StanChart's head of crypto and forex research, Geoffrey Kendrick, ether, which serves as the ethereum blockchain’s native crypto, is poised for a substantial ascent, potentially reaching a significant milestone of $8,000 by the end of 2026. Evaluating cryptocurrencies' value remains a complex task, primarily due to the absence of traditional assets backing digital tokens such as Bitcoin or ether. Unlike conventional assets, including currencies, bonds and stocks, cryptocurrencies lack established metrics for valuation.…

FridayOct 13, 2023 11:15 am

US Mulls Applying EFT Regulations to Cryptocurrency Accounts

The Consumer Financial Protection Bureau (CFPB) is currently assessing the use of the Electronic Fund Transfer Act (EFTA) within the context of crypto platforms. This move is geared towards enhancing safeguards for consumers in a market that has recently witnessed significant breaches on platforms such as FTX, Crypto.com and Axie Infinity. Under the EFTA legislation, electronic fund service providers must apprise users of their responsibilities regarding unauthorized transfers. Rohit Chopra, director of the CFPB, announced the agency's plans to delve further into the operational aspects of significant digital companies at a recent Brookings Institution meeting. The scrutiny extends to how…

ThursdayOct 12, 2023 5:13 am

Join Blockchain Life 2023 in Dubai – The Crypto Event of the Year

The legendary event, known as Crypto Whales Meeting Point, brings together over 7,000 visitors from 120 countries on October 24-25. Global crypto investors, funds, government officials, miners, developers and promising startups come together in Dubai to shape the future of cryptocurrencies and Web3 at the 11th Blockchain Life Forum. Get details and buy a ticket: https://blockchain-life.com/asia/en/ More than 80 world-known speakers from the innovative companies are going to share their analytics and world-changing ideas. Among them: Justin Sun (Founder of TRON); Yat Siu (Co-Founder and Executive Chairman of Animoca Brands); Dr. Marwan Alzarouni (CEO of Dubai Blockchain Center) Eowyn Chen…

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…

FridaySep 29, 2023 9:00 am

Asset Tokenization Gains Traction Among Crypto Skeptics, Enthusiasts

The digitization of tangible assets such as commodities, art and real estate on the blockchain was once considered a specialized pursuit limited to cryptocurrency enthusiasts. However, this perspective is evolving as leading financial institutions and smaller, cryptocentric entities embrace the concept of asset tokenization. Initially, major banks held reservations regarding cryptocurrencies such as Bitcoin. Nevertheless, they recognized the transformative potential of the underlying distributed ledger technology in revolutionizing financial markets, offering continuous settlement, reduced fees and transparent transactions. As the crypto sector integrates more closely with the broader financial landscape, the desire to tokenize real-world assets (RWA) is extending beyond…