Tag: News

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BIS Chief Touts Benefits of CBDCs, Says Crypto Reveals ‘Poorly Designed and Poorly Supervised Financial Systems’ 

November 8, 2023

In a Wednesday speech in Basel, Switzerland, Bank for International Settlements (BIS) chief Agustín Carstens argued that central bank digital currencies (CBDCs) will “sit at the core of the future financial system,” bringing innovation and meeting public expectations. While Challenges Remain, BIS Boss Agustín Carstens Insists CBDCs Will ‘Secure the Future Monetary System’ In February,…
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Expobank Issues First Tokenized Diamond Offering in Russia

November 8, 2023

Expobank, a large financial institution in Russia, has reportedly issued the first tokenized diamond offering in the country. According to local media, Expobank used the Multichain blockchain platform to issue these tokens, with each one of them having the value of 1/5,000 of a diamond, democratizing access to these investments in gemstones for small investors.…
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End of Line for BSV on Coinbase, Exchange to Delist Crypto in January 2024

November 8, 2023

Coinbase has announced it will be removing bitcoinsv (BSV) from its platform, having informed its clientele through an email notification. BSV, which was created following a hard fork from the Bitcoin Cash protocol on November 15, 2018, will no longer be hosted on Coinbase’s services after January 9, 2024. Customers are advised by Coinbase to…
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Hong Kong Considers Allowing Trading of Spot Crypto ETFs

November 8, 2023

Hong Kong is examining allowing the launch of spot cryptocurrency exchange-traded funds (ETFs), given that the risks of these instruments are addressed. In a recent interview, Julia Leung, CEO of the Hong Kong Securities and Exchange Commission, stated that the focus of the organization’s approach was “consistent” regardless of the asset. Hong Kong Open to…
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Convicted Sam Bankman-Fried’s Legal Battles Rage On Amidst SEC, CFTC Charges, and Class Action Fury

November 8, 2023

Sam Bankman-Fried was convicted on all charges in the Department of Justice’s fraud case against the ex-FTX chief, but his legal woes are far from over. He is also under pressure from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), which have slammed him with accusations of both securities…
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South Korean Police Shut Down ‘International Crypto Fraud’ Ring, Freeze $1.2m

November 8, 2023

Source: Maksim Shmeljov/Adobe South Korean police have swooped on a group of suspected “international” crypto fraudsters, freezing over $12 million and arresting 49. Newsis reported that the Cyber Investigation Department of the Seoul Metropolitan Police Agency has “arrested a total of 49 people, including the six suspected leaders of six separate organizations.” The group has been…
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China Mulls Digital Yuan Settlements for Commodities

November 7, 2023

The People’s Bank of China (PBOC) is considering using the digital yuan to settle services and commodities trades with Hong Kong. According to Di Gang, deputy director-general of the Digital Currency Institute of the PBOC, this would help companies avoid the difficulties of using a single high-cost, cross-border payment channel. People’s Bank of China Eyes…
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Binance Launches High-Yield USDT Earning Program Amid Fierce Market Competition

November 7, 2023

This week, Binance, the world’s leading crypto exchange by trading volume, announced the introduction of a tether (USDT) earning program with up to a 13% annual percentage yield (APR). Binance’s USDT earn product joins a slew of other digital currency trading platforms offering yield services for stablecoin assets. Binance Adds New Tether Earning Option With…
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November Marks Rare Awakening of 2 Vintage 2010 Bitcoin Wallets Valued at $3.4 Million

November 7, 2023

Bitcoin has surged over 24% against the U.S. dollar this month, and on November 7, 2023, an intriguing event took place: two dormant bitcoin addresses from 2010 were activated and transferred roughly 100 BTC, valued at $3.4 million according to the current bitcoin exchange rates. While 100 BTC may not be a staggering amount, these…
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Cathie Wood Endorses Bitcoin ‘Hands Down’ Over Gold and Cash, Foresees Deflationary Economy

November 7, 2023

Cathie Wood, the founder and CEO of Ark Investment Management, has an optimistic outlook on bitcoin’s future and she recently shared her enthusiasm on Bloomberg’s “Merryn Talks Money” podcast. In the conversation, when presented with the choice between gold, cash, or bitcoin as a ten-year investment, Wood confidently declared her preference for bitcoin, saying it…
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