According to a Wednesday report by digital assets platform Matrixport, the market value of bankruptcy claims against crypto exchange FTX has more than tripled this year. This comes ahead of the founder and CEO Sam Bankman-Fried’s impending criminal trial set to begin next week…. Read More: FTX Bankruptcy Claims Skyrocket as Company Recovers $7.3 Billion…
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San Francisco-based crypto exchange Kraken is reportedly considering a move into the stock market with the addition of stocks and exchange-traded funds (ETFs) to its trading platform, according to a Bloomberg report today. The move, slated for as early as 2024, will mark Kraken as the first crypto exchange to diversify its trading options beyond…
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In the first half of 2023, global debt increased by $10 trillion, reigniting concerns about its impact on the world economy and the potential for a financial crisis, according to data released by the Institute of International Finance (IIF) on Tuesday. The report disclosed that the overall debt has climbed to an unprecedented $307 trillion,…
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Today, the Hong Kong Monetary Authority (HKMA) issued a warning to cryptocurrency companies that improperly use the term “bank” in describing their services. The authority stated that such wording wrongly suggests these companies are regulated by the HKMA, which is not the case. According to HKMA rules, only organizations with specific licenses can operate as…
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The U.S. Department of Labor released new data today showing a 0.6% increase in the consumer price index (CPI) for August. This is the largest monthly rise in U.S. inflation so far this year. The report showed that prices have gone up by 3.7% compared to August of last year, slightly higher than what economic…
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The US crypto industry has a new favorite banking partner, a small Pennsylvania-based called Customers Bank. According to a Bloomberg article citing sources familiar with the matter, the bank is partnered with hundreds of crypto companies, with a wave of new clients coming in after the collapse of crypto-friendly banks Silvergate Capital and Signature Bank…
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In a revolutionary move, Hong Kong is exploring the idea of launching its Stablecoin, HKDG, to rival established Stablecoins like USDT and USDC. As reported by Wu Blockchain, the proposal, co-authored by prominent figures in academia and industry, including Vice Chancellor Wang Yang and angel investor Cai Wensheng, aims to enhance Hong Kong’s position in…
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Binance has disclosed a collaboration between its Sanctions Investigation Team and Israel’s Ministry of Defense in a counterterrorism operation against Iranian and Hezbollah terrorist groups. A June 29 blog post revealed that this operation aims to track down terrorism financing operations linked to Islamic Revolutionary Guard Corp, Quds Force. This effort demonstrates Binance’s commitment to…
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Many US-based crypto firms have been keen on expansion moves amid heightened regulatory uncertainty in the United States. The latest firm to announce its expansion plans is the crypto investment subsidiary of VC Andreessen Horowitz, a16z crypto. The firm announced its plans to launch its first international office in London a few days following the…
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A rapidly growing decentralized Twitter competitor, Nostr, is collaborating with Zebedee to design a new social media. This move would enable interoperability between Zebedee’s ZBD app and Nostr apps. Zebedee is a New Jersey-based video game payment platform with over one million Bitcoin wallets, supported by a $46.5 million VC fund. … Read More: Jack Dorsey-Backed…
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