Browsing:Market News

The Metropolitan Museum of Art in New York City Returns $550K in FTX Donations
12 months ago 1 min read

The Metropolitan Museum of Art in New York City to Return $550K in FTX Donations

The Metropolitan Museum of Art in New York City has agreed to return $550,000 in donations it received from the cryptocurrency exchange FTX, according to court filings on Friday. The payments, made in March and May of 2022 by FTX’s U.S. entity West Realm Shires Services, were made shortly before the exchange collapsed in November of that year. The museum has agreed to return the donations in full and without further litigation. “The Met wishes to return the Donations to the FTX Debtors, and the FTX Debtors and the Met have engaged in good faith, arm’s length negotiations concerning the

Bitcoin and Crypto Markets Face Potential Tough Road Ahead, Warns Bloomberg Analyst
12 months ago 1 min read

Bloomberg Analyst Predicts Challenging Times Ahead for Bitcoin and Crypto Markets

According to Bloomberg Intelligence’s senior macro strategist Mike McGlone, the second half of 2023 could be bearish for Bitcoin (BTC) and the rest of the crypto markets. McGlone believes that risk assets, such as stocks and crypto, could get cheap in the coming months as he believes that an economic recession is on the horizon. “Risk assets can get cheap in recessions,” McGlone said in a recent note. “The cat-and-mouse game between the rallying stock market and watchful central banks could be an obstacle for risk assets. Cryptos are among the riskiest, and the inability of the Bloomberg Galaxy Crypto

A branch of the Podgorica District Court in Montenegro has approved a second bail request for Do Kwon
12 months ago 2 mins read

Terraform Labs Founder Do Kwon Granted a Second Bail in Montenegro

A branch of the Podgorica District Court in Montenegro has approved a second bail request for Do Kwon, the founder, and CEO of Terraform Labs. Kwon and Terra’s former chief financial officer Han Chang-joon were originally granted bail in May for a combined sum of around $856,000. They were released on condition that they did not leave their apartment and continued to attend hearings. However, Montenegro prosecutors appealed the decision at the High Court, and their motion was upheld, with Kwon and Han being taken into custody for a second time. Kwon has since hired the world’s biggest law firm,

Russian Bank Rosbank Launches Cryptocurrency Pilot Program
12 months ago 1 min read

Russian Bank Rosbank Partners with Crypto Exchange to Offer Cross-Border Transactions

Rosbank, a major Russian bank, has launched a new service that allows corporate and private clients to make cross-border payments using cryptocurrency. The service is being provided in partnership with B-crypto, a Russian fintech company. To use the service, clients must first open an account with Rosbank and then complete a KYC verification process. Once the verification process is complete, clients can deposit fiat currency into their Rosbank account and then use that money to purchase cryptocurrency. B-crypto will then handle the cryptocurrency purchase and transfer the funds to the recipient’s account. The launch of this new service is significant

The former CEO of BitMEX has predicted that Bitcoin will enter a bull market in the late third and early fourth quarter of 2023.
12 months ago 2 mins read

Arthur Hayes Predicts Bitcoin Bull Run in Late Q3 2023

Arthur Hayes, the former CEO of BitMEX, has predicted that Bitcoin will enter a bull market in the late third and early fourth quarter of 2023. Hayes, who is now a cryptocurrency investor and trader, says that he expects Bitcoin to reach $100,000 by the end of 2023. Hayes’ prediction is based on a number of factors, including: Hayes also says that the Bitcoin market is about to experience a “fireworks show” as the price of Bitcoin rises. He says that this will be due to the increased demand for Bitcoin from institutional investors and the growing popularity of Bitcoin

Santiment believes that Bitcoin, XRP, and Litecoin are all undervalued at their current price
12 months ago 1 min read

Bitcoin Price To Catch Up With Rallying Stock Market, Says Santiment

Santiment, a market intelligence platform for crypto, has updated its outlook on Bitcoin, XRP, and Litecoin. Santiment believes that Bitcoin, XRP, and Litecoin are all undervalued at their current price, and that they could see further gains in the coming months. Bitcoin Santiment says that Bitcoin has mostly stayed flat amid the recent bounce in the stock market. However, the analytics firm believes that Bitcoin could soon follow suit and start to rally. Santiment points to the fact that the stock market has climbed to its highest level in about 10 months as the US government resolves the debt ceiling

Binance has lost a quarter of its market share since February
12 months ago 1 min read

Binance’s Dominance Shrinks as Competition Heats Up

Binance, the world’s largest cryptocurrency exchange, has lost a quarter of its market share since February. The decline comes amid regulatory crackdowns in the United States and the end of free trading promotions. In February, Binance was barred from issuing its BUSD stablecoin in New York. BUSD accounted for about 40% of Binance’s monthly trading volume at the time. In March, the Commodity Futures Trading Commission (CFTC) sued Binance for operating an unregistered trading desk. Binance also ended a free trading promotion in March that had led to a surge in trading volume. “Once those ended, trading volume naturally went

GameStop Corporation has partnered with the Telos Foundation to level the barriers preventing the widespread adoption of Web3.
12 months ago 1 min read

GameStop and Telos Foundation Announce Partnership to Develop Blockchain-Based Games

GameStop Corporation, a popular video game and merchandise retailer, has partnered with the Telos Foundation to level the barriers preventing the widespread adoption of Web3. The partnership will see Telos provide blockchain infrastructure to GameStop’s Web3 gaming launchpad, Playr. This will allow GameStop to offer more Web3 games to its customers and attract new users to the platform. Telos is a high-performance blockchain that is well-suited for gaming. It is fast, scalable, and energy-efficient. This makes it a good choice for GameStop, which is looking to provide a smooth and enjoyable gaming experience for its customers. The partnership between GameStop

Coinbase exchange announced today that it will launch Bitcoin (BTC) and Ethereum (ETH) futures contracts on June 5.
12 months ago 2 mins read

Coinbase to Launch Bitcoin and Ethereum Futures Contracts on June 5

Coinbase, the largest cryptocurrency exchange in the United States, announced today that it will launch Bitcoin (BTC) and Ethereum (ETH) futures contracts on June 5. The new contracts will be available to trade on Coinbase’s derivatives exchange, which is regulated by the Commodity Futures Trading Commission (CFTC). The launch of BTC and ETH futures contracts is a major development for the cryptocurrency market. It will allow institutional investors to gain exposure to Bitcoin and Ethereum through futures contracts, which are a more regulated and liquid product than spot trading. Institutional investors have been hesitant to invest in cryptocurrencies due to

Police in Kazakhstan have arrested a 23-year-old man suspected of operating a fake cryptocurrency trading platform.
12 months ago 1 min read

Major Crackdown in Kazakhstan: Police Shut Down Fraudulent Crypto Exchange and Arrest Key Figure

Police in Kazakhstan have arrested a 23-year-old man suspected of operating a fake cryptocurrency trading platform. The man, whose name begins with L and was born in 1999, is accused of deceiving residents of the city of Almaty by offering them the ability to raise money by using his “online crypto platform.” However, when the victims attempted to withdraw their funds from the platform, they were unable to do so. Police suspect that the man did not intend to fulfill his obligation to return the money. The platform is thought to have amassed at least $7,000 worth of investment from

San Francisco-based crypto wallet company Magic has raised $52 million in a strategic funding round led by PayPal Ventures.
12 months ago 1 min read

PayPal Invests $52 Million in Magic, a Crypto Wallet-as-a-Service Provider

San Francisco-based crypto wallet company Magic has raised $52 million in a strategic funding round led by PayPal Ventures. The round also saw participation from Cherubic, Synchrony, KX, Northzone, and Volt Capital. Magic provides non-custodial crypto wallet infrastructure for companies that wish to give their customers an easy and secure Web3 experience. The company uses a unique software development kit (SDK) that is implemented to allow customers to instantly create wallets using their existing email, social media accounts, or SMS. To date, Magic has created more than 20 million unique wallets. Magic’s current customers include a number of well-known brand

Georgia to Crack Down on Cryptocurrency Money Laundering
12 months ago 1 min read

Georgia National Bank to Investigate Crypto Firms for Money Laundering

Georgia, a major cryptocurrency-friendly country among Post-Soviet states, is preparing to start monitoring crypto firms to prevent money laundering and comply with sanctions. The National Bank of Georgia (NBG) plans to launch mandatory supervision of virtual asset service providers (VASP) starting Sept. 1, 2023. NBG’s acting governor Archil Mestvirishvili said that the new regulatory measures will help the country combat money laundering, the local news agency InterPressNews reported on May 31. “We have created an additional department for monitoring sanctions. The enforcement of the sanctions is very important and the financial sector takes it very seriously,” Mestvirishvili said. In addition

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