Market News

Marc Fagel warns against excessive optimism over a potential Ripple (XRP) settlement

3 hours ago 1 min read

Former Securities and Exchange Commission (SEC) attorney Marc Fagel has advised against being overly optimistic about the possibility of reaching an agreement in the continuing legal dispute between the SEC and Ripple Labs. The US SEC just rescheduled a private meeting, igniting renewed optimism among the XRP community for a resolution. Nevertheless, Fagel pointed out the absence of definitive proof to substantiate this perspective, noting that it is improbable to

Why Ripple (XRP) Could Be Massively Undervalued

8 hours ago 1 min read

Linda P. Jones, a former financial expert on Wall Street and author of “3 Steps to Quantum Wealth: The Wealth Heiress’ Guide to Financial Freedom by Investing in Cryptocurrencies,” expressed her optimistic view on Ripple, highlighting its pricing in comparison to Coinbase and the potential of XRP. Jones observed that Ripple’s (XRP) present valuation on the Linqto investing platform stands at $7.5 billion, which is lower than its estimations of

bitFlyer acquires 100% of FTX Japan shares and will rebrand the platform

12 hours ago 1 min read

bitFlyer Holdings, a Japanese crypto exchange, has successfully acquired FTX crypto exchange Japan, thereby establishing it as a fully-owned subsidiary of the firm. On July 26, the exchange based in Tokyo declared the acquisition, affirming that it had obtained all of the remaining shares of FTX Japan. By August 26, 2024, BitFlyer will rename FTX Japan and introduce a new crypto custody firm that provides sophisticated security services to institutional

WazirX exchange launches two bounty programs for recovering stolen assets

12 hours ago 1 min read

Nischal Shetty, the creator of WazirX, has revealed his intentions to retrieve the pilfered crypto cash. He has also made it clear that no security breach took place before July 18. There has been disinformation circulating regarding the hacking of WazirX and a few wallets, which occurred eight days before the actual theft. The platform is currently developing a system to conduct polls and will consider reopening if the results

Ripple CEO Brad Garlinghouse urges VP Kamala Harris to clarify her crypto stance

16 hours ago 1 min read

Ripple CEO Brad Garlinghouse is requesting US Vice President Kamala Harris to provide a clear explanation of her position on crypto regulation in light of ongoing discussions over the government’s policies on digital currency. This request comes in the wake of Harris’s decision to withdraw from the Bitcoin Conference 2024. Garlinghouse asserts that the rise of crypto has been impeded by tribalism and political bias, and he advocates for prioritizing

HSBC Australia to block all customer payments to crypto exchanges

22 hours ago 1 min read

On July 24, HSBC Australia enacted a new policy that prohibits all bank accounts and credit card transactions with crypto exchanges. This action comes in response to at least six prominent banks in Australia prohibiting transactions on crypto exchanges. The bank seeks to safeguard its consumers by mandating that they utilize alternative methods for doing transactions using cryptocurrency platforms. The bank referenced a recent report by the Australian Competition and

Revolut secures UK banking license with restrictions, entering the ‘mobilization’ stage for new banks

July 26, 2024 1 min read

Revolut has obtained a banking license in the United Kingdom, which is a major achievement for the fintech company. The Prudential Regulation Authority (PRA) has awarded a license to Revolut, but it comes with some conditions. This puts Revolut in a phase called “mobilization” or ‘Authorisation with Restrictions’, which is a regular procedure for new banks in the UK. UK consumers can continue using their e-money accounts without any interruptions,

An enterprise-grade platform for digital asset management, Fireblocks, increases startup adoption by 50%

July 26, 2024 1 min read

Fireblocks, an enterprise-grade digital asset management platform, has launched Fireblocks for Startups, a self-service suite of tools designed for blockchain startups and small to medium enterprises (SMEs). The platform offers streamlined treasury management, wallet creation capabilities, and network access. The launch coincides with a 55% increase in venture capital funding for Web3 startups in the first quarter of 2024 and a 50% rise in startup users since piloting the new

A subsidiary of the Coinbase Group was fined $4.5 million by FCA for onboarding high-risk customers

July 25, 2024 1 min read

The UK’s Coinbase subsidiary, CB Payments Limited (CBPL), has been fined £3.5 million ($4.5 million) by the Financial Conduct Authority (FCA) for multiple violations of anti-money laundering legislation. This is the initial enforcement action carried out by the FCA following the Electronic Money Regulations 2011 against a cryptocurrency company. In October 2020, CBPL voluntarily agreed with the FCA to stop accepting high-risk customers to enhance the firm’s financial crime controls.

US Senator to propose a bill requiring the Federal Reserve to hold Bitcoin as a reserve asset

July 25, 2024 1 min read

Wyoming Senator Cynthia Lummis is set to announce a Bitcoin Reserve Bill at the upcoming Bitcoin Conference in Nashville, which would require the Federal Reserve to hold Bitcoin as a strategic reserve asset, similar to gold. This move could help stabilize the US dollar and integrate Bitcoin into mainstream finance. The bill aims to make Bitcoin (BTC) a key component in managing the US monetary system, potentially stabilizing the dollar

Mt. Gox customers will finally receive their crypto assets worth over $9 billion

July 25, 2024 2 mins read

After a lengthy legal process spanning ten years, Mt. Gox, formerly the largest Bitcoin exchange, is now poised to initiate reimbursements to its clientele. Before its collapse in 2014, the exchange, which processed more than 70% of all BTC transactions, lost 950,000 BTC while the value of Bitcoin was $600 a coin. In the current month, a total of 20,658 clients will begin receiving a portion of their previously lost

Kamala Harris privately referred to Bitcoin as “money for criminals”

July 25, 2024 1 min read

President Joe Biden’s administration’s hostile stance on crypto may be passed on to Kamala Harris, who privately called Bitcoin “money for criminals.” Bitcoin Magazine CEO David Bailey accused Harris of destroying the crypto industry over the past four years and collaborating with Securities and Exchange Commission Chair (SEC) Gary Gensler and Senator Elizabeth Warren to push anti-crypto policies, such as Operation Choke Point. The Biden administration has imprisoned developers and