Crypto “unicorns” are springing up in Switzerland, with a recent report claiming the nation is now home to 13 token-related firms worth $1 billion or more. Per a report from PME, the number of unicorns in the crypto sector rose from nine in 2022 to 13 last year. Crypto Unicorns: Switzerland, Liechtenstein Make Moves The…
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This week, a prison snapshot featuring Sam Bankman-Fried (SBF), the ex-FTX chief, was released by the independent journalist Tiffany Fong. Capturing the first glimpse of SBF since his detention, the image places the once-prominent cryptocurrency magnate alongside five other detainees within the confines of the Metropolitan Detention Center (MDC) in Brooklyn. First Look: SBF Behind…
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On Tuesday, CME Group unveiled plans to introduce micro euro-denominated bitcoin and ether futures, set to debut on March 18, contingent on regulatory green lights. These euro-based offerings will mirror their U.S. dollar-based equivalents, each representing one-tenth of the respective cryptocurrency’s value. CME Group Announces Micro Euro-Denominated Bitcoin and Ether Futures Launch Following the 2021…
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Switzerland’s PostFinance has partnered with the crypto bank Sygnum to launch a new retail cryptocurrency for its 2.5 million customers on Wednesday, as digital assets become an “integral part” of the financial world. In an announcement, PostFinance said is the “first systemically important Swiss bank” to launch regulated trading and custody for eleven cryptocurrencies including…
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The European Central Bank (ECB) has responded to concerns from financial institutions regarding the central bank digital currency’s (CBDC) role. ECB’s report emphasized that “a digital euro will be designed as a means of payment and not for investment.” Three ECB Executive Board members Piero Cipollone, Ulrich Bindseil and Jürgen Schaaf cleared banks’ fears on…
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Prominent crypto hedge fund Tyr Capital Partners faces allegations of “criminal” mismanagement and was raided by a Swiss prosecutor over losses incurred in relation to FTX. The Geneva-based firm disregarded an internal risk threshold and investor alerts regarding its substantial exposure to the now-defunct exchange, the Financial Times reported Tuesday, citing legal documents an investor filed in…
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Amid Bitcoin’s current trade at $51,585 marks a modest 1% dip, spotlighting the resilience and volatility intrinsic to digital currencies. As the financial landscape evolves, with cryptocurrency exchange-traded products (ETPs) amassing $67 billion in assets—echoing the fervor of a December 2021 bull run—the spotlight intensifies on Bitcoin’s potential trajectory. Investors and market observers are keenly…
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Jim Bianco has raised concerns over the potential for a new kind of volatility in the bitcoin market, spurred by the dominance of speculative traders in the recently approved spot bitcoin ETFs. This development, he warns, could lead to significant regulatory repercussions for the broader crypto industry. Spot Bitcoin ETFs Could Spell ‘Vol-Mageddon’ for Crypto,…
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Dilip Asbe, managing director of National Payments Corporation of India (NPCI), is optimistic about the central bank’s new CBDC initiatives. He expressed his support for a digital rupee initiative during a panel at the Mumbai Tech Week on Sunday. He said the Reserve Bank of India’s new central bank digital currency (CBDC) plans could drive…
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Bahamian bank Deltec is facing a new lawsuit claiming it provided a ‘secret’ line of credit to FTX fraudster Sam Bankman-Fried that allowed him to buy Tether, a February 17 Bloomberg report reveals. Communications Reveal FTX’s Ties to Tether in New Lawsuit Originally filed in Florida federal court on Friday, documents verified by Bloomberg allege…
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