Market News

Coinbase reveals FDIC letters urging banks to pause crypto services

January 5, 2025 1 min read

Coinbase has recently revealed that the Federal Deposit Insurance Corporation (FDIC) is advising banks to temporarily suspend cryptocurrency-related activities, igniting controversy reminiscent of “Operation Chokepoint.” Critics, including leaders from Coinbase and Ripple, argue that the FDIC’s actions overstep constitutional limits and aim to suppress the cryptocurrency sector. On January 3, Coinbase’s Chief Legal Officer, Paul Grewal, disclosed that the FDIC had sent letters instructing banks to limit services related to

Coinbase acquires the Cyprus unit of European brokerage Bux

January 5, 2025 1 min read

Coinbase has taken a significant step towards expanding its presence in Europe by acquiring the Cyprus unit of European brokerage firm Bux, which allows the crypto exchange to secure a crucial Markets in Financial Instruments Directive II (MiFID II) license. This acquisition, completed in August, enables Coinbase to enhance its international offerings, particularly in derivatives, which represent approximately 75% of the global crypto market. The company announced the rebranding of

Ethena Labs targets the DeFi frontier with new stablecoin products

January 5, 2025 1 min read

On January 3, Ethena Labs unveiled its 2025 roadmap, introducing a Telegram application designed for payments and savings utilizing its sUSDe stablecoin, which aims to create a neobank experience. This innovative platform allows users to send, spend, and save sUSDe directly within the messaging app, with seamless integration for mobile payments through Apple Pay. Ethena Labs emphasizes the importance of a dollar with yield as a vital asset for wealth

Crypto.com now offers stock and ETF trading in Pennsylvania, Ohio, Washington, and Arizona

January 4, 2025 1 min read

Crypto.com has recently expanded its offerings by launching stock and exchange-traded fund (ETF) trading for users in select U.S. states, including Pennsylvania, Ohio, Washington, and Arizona. Announced on January 2, 2025, this new feature allows users to trade without commission fees, access fractional shares, and transfer securities seamlessly, all within a single app. This integration of traditional finance with digital assets marks a significant step in bridging the gap between

IRS delays new crypto tax cost basis rules to December 2026

January 4, 2025 1 min read

The Internal Revenue Service (IRS) has postponed the implementation of new crypto cost-basis reporting rules, now set to take effect on December 31, 2026, providing brokers with additional time to comply with the complex regulations. Initially scheduled for late 2024, this delay follows requests from brokers and platforms for more time to adapt, offering temporary relief to crypto investors who were scrambling to meet the original deadline. In a recent

WazirX says creditors will receive their funds following court’s approval

January 4, 2025 1 min read

The WazirX hack, which resulted in the theft of over $230 million, has sparked significant controversy in 2024, leaving affected users in limbo for months. Recently, WazirX announced plans to distribute funds to eligible creditors through a restructuring scheme, pending court approval. A creditors’ meeting is scheduled for the 22nd of this month, which is a crucial step in the process. Once the court grants approval, WazirX aims to initiate

Morgan Stanley’s E-Trade considers offering direct crypto trading services

January 4, 2025 1 min read

Morgan Stanley’s E-Trade division is considering introducing direct cryptocurrency trading services, a move that signals a shift in the firm’s strategy towards digital assets. This exploration comes amid expectations of pro-crypto regulatory changes anticipated under Donald Trump’s administration following his recent election victory. Currently, E-Trade provides indirect exposure to cryptocurrencies through investment products, but direct trading would represent a significant evolution in its offerings. Historically, Morgan Stanley has supported Bitcoin,

Binance secures its 21st global license in Brazil

January 3, 2025 1 min read

Binance has recently achieved a significant milestone by obtaining its 21st global regulatory license from the Central Bank of Brazil, following its acquisition of licensed broker-dealer Sim;paul. This license enables Binance to enhance its services while adhering to Brazil’s evolving financial regulations, marking a strategic expansion into one of Latin America’s largest economies. Sim;paul’s existing licenses for securities distribution and electronic money issuance provide Binance with a competitive edge in

MiCA is now live across the European Union

January 3, 2025 1 min read

The Markets in Crypto-Assets Regulation (MiCA) has officially launched across the European Union, establishing a comprehensive framework for digital asset oversight. This regulation addresses critical areas such as stablecoins, token issuances, and various services including custody and exchange, aiming to fill oversight gaps and enhance transparency within the sector. Companies issuing e-money tokens must be EU-incorporated or possess relevant licenses, while asset-referenced tokens face stringent disclosure and governance requirements based

Vitalik Buterin donates 50 ETH to support the legal defense of a Tornado Cash developer

January 3, 2025 1 min read

Vitalik Buterin, co-founder of Ethereum, has made headlines by donating 50 ETH, valued at approximately $170,000, to support the legal defense of Roman Storm, a developer associated with Tornado Cash. This donation, confirmed by Storm on December 31, underscores Buterin’s commitment to privacy and open-source development in the cryptocurrency sector. Storm expressed deep gratitude for Buterin’s support, highlighting the inspiration it provides during his legal challenges. Storm is currently facing

Garanti BBVA expands crypto trading services following MiCA regulation

January 3, 2025 1 min read

Garanti BBVA, Turkey’s fifth-largest bank, is set to enhance its cryptocurrency services in 2025, following the European Union’s implementation of the Markets in Crypto-Assets (MiCA) regulation. The bank’s crypto custody service, Garanti BBVA Kripto, will soon enable public crypto trading, marking a significant expansion in its digital asset offerings. To facilitate this new trading service, Garanti BBVA Kripto has partnered with Bit2Me, a Spain-based cryptocurrency exchange. This collaboration will allow

KuCoin has launched KuCoin Pay to simplify crypto payments

January 3, 2025 1 min read

KuCoin has introduced KuCoin Pay, a new payment service aimed at facilitating cryptocurrency transactions for both merchants and customers. This innovative solution enables businesses to accept payments directly from customers’ KuCoin accounts, supporting a diverse range of 54 cryptocurrencies, including major assets like Bitcoin (BTC) and Ethereum (ETH), as well as popular stablecoins such as USDT and USDC. The integration of KuCoin Pay into existing payment platforms is designed to