Tag: Bank
Jul 04, 2024 CRYPTO Regulation
Basel Committee To Finalizes New Crypto Regulation for Banks
The Basel Committee on Banking Supervision has taken a significant step in enhancing global financial stability by finalizing new rules for the disclosure of banks' cryptoasset exposures. These rules, part of the ongoing Basel III reforms, are set to come…
Jul 02, 2024 Crypto News
Paxos Secures Full Approval in Singapore for USD Stablecoins
SINGAPORE– In a groundbreaking move set to revolutionize the digital asset landscape, Paxos has secured full regulatory approval from the Monetary Authority of Singapore (MAS) to issue U.S. dollar-backed stablecoins. This significant milestone comes as Paxos Digital Singapore Pte. Ltd.,…
Jul 02, 2024 Crypto Scam
Evolve Bank Loses 33TB of User Data to Russian Hackers!
Evolve Bank has fallen victim to a massive data breach, losing an astonishing 33 terabytes (TB) of user data. The breach, orchestrated by the notorious Russia-linked ransomware group LockBit, has exposed sensitive information from thousands of accounts. The Breach: How…
Jun 28, 2024 BITCOIN
Bolivia Lifts Ban on Bitcoin and Crypto Payments
Bolivia has officially lifted its ban on Bitcoin and other cryptocurrency payments, marking a significant shift in the country's financial landscape. This move, announced by Bolivia's central bank, enables financial institutions to legally engage in transactions involving digital assets, a…
Jun 22, 2024 BITCOIN
Standard Chartered Ventures into Spot BTC and ETH Trading
In a bold move signaling a significant shift in traditional banking, Standard Chartered Plc is establishing a spot trading desk for Bitcoin (BTC) and Ethereum (ETH). This initiative marks the bank as one of the first major global financial institutions…
Jun 16, 2024 Crypto News
Arthur Hayes Predicts Dogecoin ETF
The cryptocurrency landscape is abuzz with speculation following Arthur Hayes' recent interview where he predicted the launch of a Dogecoin ETF by the end of this market cycle. Hayes, the co-founder of BitMEX, shared his insights during a discussion with…
Jun 11, 2024 Ethereum
ICBC Declares Ethereum as “Digital Oil” Powering the Future
In a significant endorsement for the cryptocurrency world, the Industrial and Commercial Bank of China (ICBC), the world's largest bank, has proclaimed Ethereum as a critical component in the digital future. Describing Ethereum as "digital oil," ICBC highlights the blockchain…
Jun 11, 2024 Crypto News
Trump: “Bitcoin Mining is Our Last Defense Against CBDCs”
Former President Donald Trump recently highlighted the strategic importance of Bitcoin mining, suggesting it may be the "last line of defense" against the rise of Central Bank Digital Currencies (CBDCs). Trump's remarks underscore his growing support for cryptocurrency and its…
Jun 03, 2024 Crypto News
Bitcoin Prices Surge on Market Expectations for ECB Rate Cut
Bitcoin Prices Surge on Market Expectations for ECB Rate Cut Bitcoin, the leading cryptocurrency, experienced a notable price surge this week, driven by growing market anticipation for a potential rate cut by the European Central Bank (ECB). As the ECB…
May 24, 2024 Altcoin
Standard Chartered Predicts Solana and XRP ETFs by 2025
Standard Chartered Bank, a major player in global finance, has predict: Solana (SOL) and Ripple's XRP could be the next big things to get their own ETFs (exchange-traded funds) by 2025. This comes hot on the heels of the recent…
May 18, 2024 Crypto News
Genesis Gets Green Light to Repay Creditors in Billions
Bankrupt Crypto Lender Genesis Secures Court Approval for Repayment Plan In a win for creditors, a bankruptcy judge has approved a repayment plan for bankrupt crypto lender Genesis Global. This plan allows Genesis to distribute billions of dollars worth of…
Mar 26, 2024 BITCOIN
Surge in Demand for Bitcoin ETFs and Ethereum
Wealth desks at major banks have observed a remarkable surge in demand for Bitcoin (BTC) spot exchange-traded funds (ETFs) from their clients. Added to this unprecedented demand are requests for structured products such as Accumulators and FCNs, reflecting a growing…
Dec 04, 2023 Crypto News
Binance Announces Listing Anchored Stablecoin AEUR
Binance, the world's leading cryptocurrency exchange, has announced the listing of the new stablecoin Anchored Coins EUR (AEUR). This eagerly anticipated listing is scheduled to go live on December 4th, 2023, at 10:00 (UTC). The platform will also introduce new…
Nov 28, 2023 Crypto News
Binance US: CZ Steps Down as Chairman Board of Directors
Changpeng Zhao, often referred to as CZ, the prominent founder and CEO of Binance, has made the decision to step down from his role as Chairman of the Board of Directors at Binance US. This move follows an intense period…
Nov 04, 2023 BITCOIN
Bitcoin ETF Speculation, and the Future of Crypto
The recent verdict in the Sam Bankman-Freed FTX case, where he was found guilty on seven counts of fraud, marks a significant milestone in the growth and maturation of the cryptocurrency industry. This development sheds light on the challenges faced…
Nov 03, 2023 Crypto News
FTX Founder Sam Bankman Fried Convicted
The trial of FTX co-founder Sam Bankman-Fried has taken a surprising twist, revealing an unexpected betrayal by three of his former close friends. The jury recently delivered a verdict that could reshape the landscape of cryptocurrency and financial markets. SBF…
Oct 25, 2023 Altcoin
Judge Declares “Enough is Enough” in Celsius Chapter 11 Case
The Celsius Chapter 11 bankruptcy case, tensions have reached a boiling point as Judge Glenn strongly condemns Otis Davis, a key player in the proceedings. The judge asserts that Davis is attempting to "derail this case" and highlights his failure…
Oct 24, 2023 BITCOIN
BlackRock’s iShares Bitcoin Trust (IBTC) Gets Listed on DTCC
In a recent development, Bloomberg analyst Eric Balchunas reported that the iShares Bitcoin Trust (IBTC), managed by BlackRock, has been officially listed on the Depository Trust & Clearing Corporation (DTCC). This move is a crucial step in the process of…
Oct 13, 2023 CBDC
Decentralised Finance Smart Contracts Under Scrutiny
In a recent move towards bolstering regulatory frameworks, the European Securities and Markets Authority (ESMA) has released a comprehensive paper titled,DeFi "Decentralisation Finance: A Categorisation of Smart Contracts." While the Markets in Crypto-Assets (MiCA) framework set to take effect doesn't…
Aug 01, 2023 Crypto News
FTX Plans to Relaunch Crypto Exchange
FTX, the crypto exchange currently undergoing bankruptcy, has set its sights on restarting its international cryptocurrency exchange, FTX.com. The company is actively engaging in discussions with potential investors, exploring diverse options, including a potential joint venture, to support the revival…
Jul 19, 2023 BITCOIN
Cathy Wood Bullish on Bitcoin: Predicts $1.5 Million Price
Bitcoin continues to be a dominant force, captivating the interest of investors, enthusiasts, and skeptics alike. The latest person to join the ranks of the Bitcoin bulls is none other than the well-respected investor, Cathy Wood. Known for her successful…
Jul 09, 2023 CBDC
The Reserve Bank of Zimbabwe’s Gold-Backed Digital Currency
In a bid to stabilize Zimbabwe's struggling economy, the Reserve Bank of Zimbabwe has embarked on a "dry run" test for the launch of a gold-backed digital currency. This innovative approach aims to address the economic challenges faced by the…
Jul 08, 2023 Crypto News
Ripple and Stellar Lumens $XLM may collaborate with FedNow
As digital transactions become increasingly prevalent, the need for faster and more efficient payment systems has become paramount. Recognizing this demand, the Federal Reserve has developed FedNow, an instant payment service that aims to transform the way funds are transferred…
Jul 06, 2023 Crypto News
Namibia Regulates Digital Assets and Cryptocurrencies
Namibia, a country in southwestern Africa, has taken a significant stride in the realm of digital assets and cryptocurrencies. On June 22, 2023, the National Assembly of Namibia passed a bill to regulate digital assets, cryptocurrencies, and virtual asset service…
Jul 05, 2023 Crypto News
India’s Push for Cross-Border CBDC Payments
The Reserve Bank of India (RBI) is actively engaging with 18 countries to enable cross-border payments using its central bank digital currency (CBDC), the digital rupee. The primary goal is to boost India's foreign trade potential with nations that lack…