Browsing:Market News

Kraken FX co-founder Jesse Powell raised concerns over the viability of the FTX relaunch
9 months ago 1 min read

Kraken Co-founder Critiques FTX Reboot, Calling It a Step Backward

Days after FTX unveiled a reboot plan, Kraken FX co-founder Jesse Powell raised concerns over the viability of the FTX relaunch, suggesting that it might face challenges worse than starting from scratch. The troubled crypto exchange recently revealed a new strategy to relaunch and settle its debts, but doubts persist about the success of this plan. Powell’s skepticism stems from the existing hurdles that FTX faces. The tarnished reputation of the exchange and the absence of a functioning team, licenses, and banking facilities make its revival a complex endeavor. Rather than pursuing the current relaunch, Powell proposes a different approach

OKX cryptocurrency exchange has recently revealed its decision to delist 10 spot trading pairs.
10 months ago 1 min read

OKX Exchange Announces Delisting of 10 Altcoin Trading Pairs to Enhance Trading Environment

OKX cryptocurrency exchange has recently revealed its decision to delist 10 spot trading pairs. This move comes as part of the exchange’s commitment to fostering a robust trading ecosystem and ensuring strict compliance with listing standards. The delisting process follows a comprehensive evaluation of listing attributes and user feedback, in accordance with OKX’s Token Delisting / Hiding Guide. The trading pairs that are set to be delisted include TRUE/USDT, LOON/USDT, WING/USDT, TAI/USDT, EC/USDT, RFUEL/USDT, KCASH/USDT, MCO/USDT, LDN/USDT, and APIX/USDT. This move reflects OKX’s dedication to optimizing its trading offerings and maintaining a streamlined selection of assets. To ensure a seamless

The US SEC has filed a fraud lawsuit against prominent crypto influencer Richard Heart
10 months ago 2 mins read

SEC Files Fraud Lawsuit Against Crypto Influencer Richard Heart Over Alleged Misappropriation

In a major development, the US Securities and Exchange Commission (SEC) has filed a fraud lawsuit against prominent crypto influencer Richard Heart, also known as Richard Schueler. The lawsuit alleges that Heart raised over $1 billion through the unregistered offer and sale of crypto asset securities, including Hex, PulseChain, and PulseX. The SEC contends that the crypto assets Hex, PulseChain, and PulseX should be classified as securities. Richard Heart allegedly promoted these investments as avenues to extraordinary wealth, boasting that Hex was designed to become the most appreciating asset in the history of mankind. The complaint further accuses Heart and

OpenAI CEO Investigates Worldcoin Project Over Biometric Data Concerns
10 months ago 1 min read

Germany Launches Investigation into Worldcoin (WLD)

OpenAI CEO Sam Altman has been conducting an investigation into the Worldcoin (WLD) project since late last year. The project has garnered attention for its large-scale processing of sensitive biometric data, raising concerns over privacy and data protection. Launched recently, Worldcoin requires users to undergo iris scans in exchange for a digital ID and free cryptocurrency, as part of its ambitious plan to establish an “identity and finance network.” According to Michael Will, the head of the German data supervisory agency, the Bavarian State Data Protection Supervisory Office will lead the investigation into Worldcoin. The project, initiated by Tools For

SEC Orders Coinbase to Drop All Crypto Assets Except Bitcoin, CEO Speaks Out
10 months ago 2 mins read

SEC Orders Coinbase to Delist All Crypto Assets, Except Bitcoin, Says CEO

Coinbase faced a critical situation when the U.S. Securities and Exchange Commission (SEC) instructed them to delist all cryptocurrencies on their platform, except for Bitcoin. The revelation comes from Coinbase CEO Brian Armstrong, who disclosed the regulatory pressure in a recent interview. The SEC’s stance on considering most assets as securities, excluding Bitcoin, has raised significant concerns within the crypto industry. In a July 31 interview with the Financial Times, Brian Armstrong disclosed the SEC’s surprising demand to delist nearly 250 tokens listed on the Coinbase platform. The SEC, believing that “every asset other than Bitcoin is a security,” reportedly

The US SEC issued a strong cautionary message to investors regarding the cryptocurrency market
10 months ago 2 mins read

SEC Chairman Gary Gensler Warns Investors of Scams in Crypto Market and Addresses Bitcoin ETF Applications

Gary Gensler, the head of the US Securities and Exchange Commission (SEC), recently issued a strong cautionary message to investors regarding the cryptocurrency market, labeling it as “fraught with scams.” Additionally, he addressed concerns about Bitcoin ETF (Exchange-Traded Fund) applications during a television show on Bloomberg. In his statements, Gensler emphasized the speculative nature of cryptocurrencies, the absence of securities laws protection, and the prevalence of scams and scammers in the industry. Let’s delve into the details of his remarks and the implications for investors. Chairman Gensler’s warning reflects the SEC’s vigilance toward the cryptocurrency market’s inherent risks. The dynamic

Kyrgyzstan is set to enter the crypto mining arena
10 months ago 1 min read

Kyrgyzstan to Establish Crypto Mining Farms

Kyrgyzstan is set to enter the cryptocurrency mining arena with a groundbreaking $20 million project, as announced by President Sadyr Japarov. The government will be constructing a state-of-the-art crypto mining farm powered by a Hydroelectric Power Plant. This initiative aims to harness the country’s abundant hydroelectric resources and capitalize on the potential of cryptocurrencies to boost local revenue. Let’s delve into the details of this significant development. According to reports from July 27, President Japarov has given the green light for the construction of a crypto mining farm at the Hydroelectric Power Plant in Kyrgyzstan. This move comes in response

French Authorities Question Worldcoin's Biometric Data Policies
10 months ago 2 mins read

Worldcoin Under Investigation by French Authorities for Biometric Data Collection

Worldcoin (WLD), a digital identity-based cryptocurrency project spearheaded by Sam Altman, co-founder of ChatGPT, has come under scrutiny as French authorities launch an investigation into its biometric data acquisition practices. The project’s vision is to develop a user-centric digital identification platform using biometric data, including iris scans, to verify identities. However, concerns about privacy and ethical implications have prompted regulatory action. Worldcoin aims to revolutionize the digital identification landscape by creating a platform centered on individual empowerment. At the core of their approach lies the use of biometric data, particularly iris scans, for identity verification. To facilitate this, Worldcoin has

Crypto.com has obtained registration approval from De Nederlandsche Bank (DNB)
10 months ago 1 min read

Crypto.com Dutch Central Bank Grants Official Approval to

Crypto.com has obtained registration approval from De Nederlandsche Bank (DNB), the Dutch central bank. The approval comes after a thorough evaluation of Crypto.com’s business and compliance practices in alignment with the Netherlands’ Money Laundering and Terrorist Financing Act. With this regulatory license in hand, Crypto.com is poised to offer a range of crypto services in the Dutch market, including fiat-to-virtual asset exchanges and custodial wallet solutions. Joining the ranks of 36 registered crypto businesses in the Netherlands, including BitPay, Bitstamp, and Coinbase’s European arm, Crypto.com’s approval marks a milestone for the company. The Dutch central bank acknowledged that Crypto.com is

South Korea is taking steps to enhance its crypto regulatory framework to tackle the increasing number of crypto-related crimes
10 months ago 1 min read

South Korea Takes Stricter Stance on Crypto: LEI Implementation and Crime Unit Establishment

South Korea is taking steps to enhance its crypto regulatory framework to tackle the increasing number of cryptocurrency-related crimes and safeguard investors. In a recent report, it was announced that an interagency investigation unit, the Joint Investigation Centre for Crypto Crimes, has been established to crack down on illicit activities in the virtual asset market. Concurrently, the Korea Securities Depository has partnered with Code to encourage the use of Legal Entity Identifier (LEI) in the crypto market, promoting transparency and accountability. The Joint Investigation Centre for Crypto Crimes, led by the Seoul Southern District Prosecutors Office, is a joint effort

The partnership between Ripple and Palau marks a step for the island nation in embracing financial innovation and new technologies.
10 months ago 1 min read

Ripple Announces Strategic Alliance with Island Nation

Ripple, the blockchain technology company, has been making significant strides in the aftermath of its important victory against the SEC in the SEC-XRP lawsuit. The latest development comes in the form of a groundbreaking partnership with Palau, an island country in the Pacific. Palau’s government has joined forces with Ripple to pilot a US dollar-backed stablecoin on the XRP Ledger. The partnership between Ripple and Palau marks a significant step for the island nation in embracing financial innovation and new technologies. As part of the commitment to drive financial access and inclusion for its citizens, Palau plans to create its

The CEO of Ripple has publicly criticized the US SEC in response to recent comments suggesting a potential appeal
10 months ago 2 mins read

Ripple CEO Brad Garlinghouse Slams SEC for ‘Regulation by Enforcement

The CEO of Ripple, Brad Garlinghouse, has publicly criticized the US Securities and Exchange Commission (SEC) in response to recent comments suggesting a potential appeal in their ongoing case against Ripple Labs. Garlinghouse’s sharp rebuke centers around the SEC’s “regulation by enforcement” approach, which he believes is detrimental to retail investors. On July 23, Brad Garlinghouse openly denounced the SEC’s “regulation by enforcement” policy, asserting that it harms retail investors. He accused the SEC of creating unnecessary chaos and referred to it as the “crypto cop” without legitimate legal authority. According to Garlinghouse, this enforcement-based approach has resulted in retail

About us

Optimisus is a Dubai-based fintech media company. We cover the latest AI, crypto, NFT, metaverse, blockchain, and Fintech news influencing the crypto industry.

Email: media@optimisus.com

Get Instant Notifications

Join over million readers and get the latest posts delivered straight to your inbox.

© copyright 2024 all rights reserved | Optimisus