Author: James Wilson

Article written by James Wilson

Ripple’s CLO slams the SEC’s latest appeal in the ongoing XRP legal battle

October 4, 2024 1 min read

Ripple’s Chief Legal Officer, Stuart Alderoty, has expressed strong criticism of the U.S. Securities and Exchange Commission’s (SEC) recent appeal regarding XRP, which challenges a previous ruling that deemed XRP not a security. This appeal follows a ruling by Judge Analisa Torres, who imposed a $125 million fine on Ripple, significantly less than the SEC’s initial demand of $2 billion. Alderoty described the SEC’s move as disappointing and indicative of

SWIFT plans to trial digital asset transactions for 11,000 banks next year

October 4, 2024 1 min read

SWIFT, the global banking network, is set to revolutionize the financial landscape by enabling digital asset transactions for over 11,000 financial institutions starting next year. This ambitious initiative aims to bridge the gap between traditional banking and the burgeoning world of digital assets, tackling regulatory and privacy challenges head-on. The project will kick off with trials across North America, Europe, and Asia, allowing banks to delve into tokenized assets. SWIFT

Binance is expanding its compliance team and emphasizing crypto education

October 1, 2024 1 min read

Binance, one of the leading crypto exchanges, is intensifying its compliance initiatives, reflecting a broader commitment to regulatory adherence in the evolving crypto landscape. Currently, the company has allocated between 500 to 600 employees to regulatory tasks, with plans to increase this number to 700–800 by the end of the year. This move comes in the wake of founder Changpeng Zhao (CZ) stepping back from daily operations due to a

Matrixport announces the all-cash acquisition of Crypto Finance

September 30, 2024 1 min read

In a significant move within the crypto landscape, Matrixport, a prominent crypto financial services provider, has successfully acquired Crypto Finance (Asset Management) AG (CFAM), a Swiss-based investment solutions firm. This acquisition, finalized on September 30, was executed as an all-cash deal and will see CFAM rebranded as Matrixport Asset Management AG. The CFAM unit was previously part of the Crypto Finance Group, which is owned by the Deutsche Börse Group.

Russian authorities in Dagestan intensify efforts to shut down illegal underground crypto mining farms

September 25, 2024 1 min read

The Republic of Dagestan in Russia has been combating illicit crypto mining, having uncovered multiple clandestine operations. Abdulmuslim Abdulmuslimov, the Prime Minister of Dagestan, has advocated for stricter restrictions due to the miners’ persistent advancement in concealment techniques. The prime minister disclosed the discovery of multiple unlicensed mining operations located in subterranean tunnels, rendering them more difficult to identify. A concealed farm in the Sergokalinsky district was revealed, containing more

A judge orders a fraudster to pay over $36 million in fines and restitution

September 23, 2024 1 min read

A federal judge has mandated that William Koo Ichioka pay more than $36 million in fines and restitution for his involvement in a fraudulent crypto and forex operation. The U.S. Commodity Futures Trading Commission (CFTC) issued the order on September 20. Ichioka was mandated to remit $31 million in restitution and a $5 million civil penalty. He was prohibited from trading in CFTC-regulated markets and from registering with the CFTC.

Ethereum transaction fees spike, despite a drop in active accounts

September 23, 2024 1 min read

Ethereum transaction fees have risen markedly in recent weeks, even as the number of active accounts on the network has fallen to its lowest point this year. The average transaction charge has decreased to its lowest level since 2020, falling below $1. Nonetheless, the seven-day moving average transaction charge surged markedly, attaining $3.52 on September 21, about three times its value at the beginning of the month. This surge resulted

A wallet associated with Ethereum co-founder Vitalik Buterin moves $3,170,000 in Ethereum (ETH)

September 21, 2024 1 min read

Ethereum co-founder Vitalik Buterin has made significant ETH transfers, causing speculation in the crypto community. The wallet “0xD04daa” transferred 1,300 ETH, valued at around $3.17 million, to an external address labeled “0x5567A,” which was triggered by the 6.3% increase in Ethereum’s price. The move has sparked speculation about potential profit-taking motives. Shortly after receiving the funds, the wallet “0x5567A” transferred 74.17 ETH, valued at approximately $181,000, to Paxos, a well-known

Bhutan amasses $780 million in Bitcoin through eco-friendly mining

September 17, 2024 1 min read

Bhutan, a small Himalayan monarchy, has emerged as a prominent player in the cryptocurrency world, with 13,011 Bitcoin (BTC) worth around $780 million, according to Arkham Intelligence. Bhutan’s Bitcoin reserves are unique in that they are the outcome of large mining operations, as opposed to other governments’ Bitcoin assets, which are frequently derived from seized monies. Bhutan’s Bitcoin mining is being driven by Druk Holdings & Investments (DHI), the country’s

Sui Becomes Official Blockchain Partner for ONE Championship

September 17, 2024 3 mins read

The world’s largest martial arts organization will leverage Sui’s technology for its products and highly anticipated mobile game ONE Fight Arena built in partnership with Animoca Brands Sui, a cutting-edge Layer 1 blockchain, today announced it will be the official blockchain partner of ONE Championship (“ONE”), the world’s largest martial arts organization. ONE events represent the full spectrum of martial arts, with world-class athletes from more than 80 countries competing across MMA,

Marathon Digital adds over 5,000 BTC to its holdings in the last month

September 16, 2024 1 min read

Marathon Digital Holdings (MARA), a prominent Bitcoin mining enterprise, has augmented its Bitcoin reserves to 26,200 BTC, approximately valued at $1.5 billion. The corporation acquired more than 4,144 BTC on August 14, increasing its reserves to over 25,000 BTC. As of the end of August, MARA’s Bitcoin holdings totaled 25,945 BTC. MARA adheres to a “HODL” strategy, retaining all mined BTC and intends to execute periodic acquisitions. This has established

Russia permits crypto for foreign trade, with regulations expected by November

September 14, 2024 1 min read

The Russian Central Bank and the Ministry of Finance are developing legislation that will govern cross-border crypto payments. The administration plans to finalize these regulations by the end of November. The crypto payment method will first be implemented under an experimental legal regime (EPR), with only a few players, such as credit institutions and banks. This stepwise strategy tries to reduce risks and set policies to keep the market safe