Author: Mohammed Ali

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Mohammed Ali

Mohammad Ali is a fintech and cryptocurrency writer who has been covering the intersection of finance and technology for several years. Ali has a deep understanding of the financial industry and the ways in which technology is changing it, with a special focus on the rise of digital currencies and blockchain technology.

Articles by Mohammed Ali

The SEC has filled the crypto regulatory gaps

US SEC assumes control of crypto and stablecoin regulations in the absence of new laws

1 year ago 1 min read

As lawmakers in the US grapple with legislation to create new rules around digital assets, the Securities and Exchange Commission (SEC) has filled the regulatory gaps that have been identified by President Joe Biden’s administration. Gary Gensler, SEC Chair, reiterated to reporters last week that he doesn’t see the need for new laws to regulate the space, though senior US regulators including Treasury Secretary Janet Yellen have called for new laws to govern digital assets. The lack of new laws has enabled the SEC to proactively regulate in new areas that it had not previously focused on, including stablecoins and

Switzerland's PostFinance has partnered with Sygnum Bank

PostFinance Becomes First Swiss Bank to Offer Crypto Services to 2.5 Million Users

1 year ago 1 min read

Switzerland’s PostFinance has partnered with Sygnum Bank, a digital asset services provider, to provide cryptocurrency trading and storage services to its 2.5 million customers. The bank will offer Bitcoin and Ethereum initially, with more tokens to be added in the future. The move will allow PostFinance customers access to digital assets, tapping into Sygnum’s institutional business-to-business banking platform, which supports several cryptocurrencies and revenue-generating services like staking. PostFinance is fully owned by the Swiss government and is the fifth-largest financial services firm in the country. The bank is known for its pro-crypto stance, having built an in-house trading and custody

OKX and Rúben Dias Host Metaverse Education Program for Fans

OKX Exchange Hosts Metaverse Training Session with Premier League Footballer Rúben Dias

1 year ago 1 min read

Cryptocurrency exchange and Web3 technology developer OKX has announced a collaboration with Manchester City footballer Rúben Dias, offering fans an immersive metaverse experience called “Train Like Dias.” The experience will allow fans to virtually experience Dias’ favorite training techniques, providing exposure to coaching and tips. OKX’s global chief marketing officer, Haider Rafique, stated that the new immersive experience helps connect fans and is “another great example of what this technology allows.” OKX and Manchester City became partners in July 2022, with the platform hinting at future Web3 content offerings from other players on the team. The metaverse continues to explore

The G7 nations are taking steps to address concerns over the lack of regulation in the cryptocurrency industry.

G7 Leaders Demand More Oversight of Cryptocurrency Trading

1 year ago 2 mins read

The G7 is taking steps to address concerns over the lack of regulation in the cryptocurrency industry. According to reports, the G7 is planning to promote tougher regulations of the crypto sector during the 49th G7 summit, which is scheduled to take place in Hiroshima, Japan, in May 2023. The goal of this plan is to increase transparency and consumer protections. The move comes in response to concerns about the potential risks that crypto assets pose to the global financial system. The collapse of FTX, a major cryptocurrency exchange in November, exposed the poor governance of the industry and sent

Russian lawmakers have announced that cryptocurrency legislation

Russian lawmakers set to introduce crypto legislation next month

1 year ago 1 min read

Russian lawmakers have announced that long-awaited crypto legislation will be presented to the State Duma for debate in April. Despite the optimism expressed by the Chairman of the State Duma’s committee on the financial markets, Anatoly Aksakov, critics have raised concerns about the proposed bill. It will reportedly seek to punish illegal crypto exchanges and brokers with jail time, an approach that has been likened to draconian measures taken in the Soviet era to stamp out black market foreign currency trading. Former deputy head of the Central Bank, Sergei Shvetsov, spoke out against the proposed bill, stating that criminal liability

Encrypted Message Used in Attempted Phishing Attack on Euler Finance Exploiter by North Korean Hacker

Euler Finance Exploiter Receives Phishing Attempt from North Korean Hacker Group Lazarus

1 year ago 2 mins read

On March 13, Euler Finance suffered a massive exploit that led to the loss of approximately $200 million in stolen funds. Since then, the victim firm has been in talks with the hacker via on-chain communication to settle the deal, with the hacker returning $5.4 million to Euler Finance. However, things took a new turn when a wallet address linked to the North Korean hacker group Lazarus sent an encrypted message to the Euler Finance exploiter on Tuesday. According to experts, the message is likely an attempt to trap the Euler’s hacker in a phishing scheme and drain stolen funds

DEX Camelot's surge in popularity can be attributed to the upcoming token airdrop by Arbitrum

DEX Camelot’s TVL crosses the $100M mark ahead of Arbitrum token airdrop

1 year ago 1 min read

Camelot, an Arbitrum native decentralized exchange (DEX), has recently experienced impressive growth, with its total value locked (TVL) soaring over 50% in just one week, now crossing $100 million. This surge in popularity can be attributed to the upcoming token airdrop by Arbitrum, which is scheduled to happen on Thursday. According to DefiLlama, a TVL aggregator, Camelot’s 24-hour trading volume hit an all-time high of $47 million on Saturday. It is now the 10th largest entity on Arbitrum, based on the number of users, as reported by blockchain analytics firm Nansen. In the past seven days, Camelot’s native token GRAIL

Enclave Markets

Avalanche-backed initiative develops encrypted exchange platform

1 year ago 1 min read

Enclave Markets, led by CEO David Wells, has developed an innovative solution for OTC traders in the form of Enclave Cross. This new product creates on-chain OTC dark pools for digital assets, providing a way for traders to maintain confidentiality and execute trades securely. In a recent interview, Wells shared his insights on why OTC traders benefit from using Enclave Cross and Fully Encrypted Exchange (‘FEX’), and how Enclave aims to bring together the best features of centralized and decentralized exchanges to provide a comprehensive solution for traders. Wells explained that OTC traders often face challenges in finding counterparties who

21Shares will reportedly terminate five funds and delist another one due to low interest from investors.

21Shares Suspends Crypto Products Citing Reduced Demand

1 year ago 1 min read

Switzerland-based crypto ETP issuer 21Shares is set to delist five funds and terminate another one due to waning investor interest. The move will take place on April 6, and June 12 for the delisting of 21Shares Terra Classic ETP (LUNA). The terminated funds are the 21Shares S&P Risk Controlled Ethereum Index ETP, the 21Shares S&P Risk Controlled Bitcoin Index ETP, the 21Shares DeFi 10 Infrastructure ETP, the 21Shares USD Yield ETP, and the 21Shares Crypto Layer 1 ETP. 21Shares plans to keep offering its other products that enjoy solid demand. According to Arielle Pennington, Head of Global Communications, the demand

Is BlackRock Embracing the Future of Investing with Stock Tokenization?

BlackRock Considers Tokenization of Stocks

1 year ago 1 min read

BlackRock, the world’s largest asset management company, is exploring the potential of digital assets, particularly the tokenization of asset classes, as noted by CEO Larry Fink in a recent letter to investors. Mr. Fink highlighted the advancements happening in emerging markets, particularly in digital payments, which are advancing financial inclusion and lowering costs. He also noted the potential of tokenization of assets, which could revolutionize the asset management industry, shorten value chains, and improve cost and access for investors. BlackRock is actively exploring the tokenization of stocks and bonds, particularly in areas most relevant to their clients, such as permissioned

Swiss Bankers Association

Swiss Bankers Association Pushes for Deposit Tokens to Boost Digital Economy

1 year ago 1 min read

The Swiss Bankers Association has published a white paper that outlines how Swiss banks can contribute to the development of the country’s digital economy. The group has suggested a Swiss franc “joint” deposit token as a solution. According to the paper, stablecoins have limited penetration in the Swiss financial system despite end-to-end digitization becoming more common in business models. Additionally, there are no Swiss stablecoins that are accessible by the general public. The white paper suggests a deposit token that is “issued by regulated and adequately supervised intermediaries” and redeemed by smart contracts denominated in Swiss francs. The token could

MakerDAO Sets Sights on $1.25B U.S. Treasury Bond Holdings Following Successful First Vote

MakerDAO Votes to Raise U.S. Treasury Bond Holdings to $1.25B

1 year ago 1 min read

Maker’s governance community has approved a preliminary vote to increase its U.S. Treasury bond holdings to $1.25 billion, marking a significant increase from its current $500 million holding. The proposal was first introduced in October 2022 through an improvement proposal called MIP65, which allowed Maker to invest in U.S. Treasury bonds. The latest proposal increases the debt ceiling for those investments, which will allow Maker to invest more in liquid bonds. If fully approved in a later vote, Maker will spend the $750 million made available through the proposal on U.S. Treasuries, with maturities split equally over six months. Notable

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