Market News

SWIFT plans to trial digital asset transactions for 11,000 banks next year

October 4, 2024 1 min read

SWIFT, the global banking network, is set to revolutionize the financial landscape by enabling digital asset transactions for over 11,000 financial institutions starting next year. This ambitious initiative aims to bridge the gap between traditional banking and the burgeoning world of digital assets, tackling regulatory and privacy challenges head-on. The project will kick off with trials across North America, Europe, and Asia, allowing banks to delve into tokenized assets. SWIFT

Visa reports that BBVA is one of many participating institutions trying out VTAP

October 4, 2024 1 min read

Visa has introduced its Visa Tokenized Asset Platform (VTAP) to streamline the issuance and management of digital assets, including stablecoins and central bank digital currencies (CBDCs). Announced on October 3, VTAP is currently in a sandbox phase with institutions like BBVA testing its features. The platform aims to provide a secure solution for minting, transferring, and settling digital assets across both public and permissioned blockchains, catering to institutional investors and

Telegram’s disclosure of user data to law enforcement since 2018 has sparked concerns in the crypto community

October 4, 2024 1 min read

Telegram CEO Pavel Durov has revealed that the platform has been sharing user data, including IP addresses and phone numbers, with law enforcement since 2018. This admission has raised concerns among crypto security experts about potential threats to user privacy and the principles of decentralization that are crucial to the crypto community. Despite the backlash, the price of Toncoin has remained stable, with no significant market reaction observed. Durov, who

Bank of England and the FCA launch the Digital Securities Sandbox (DSS)

October 2, 2024 1 min read

The UK is stepping into the future of finance with the launch of the Digital Securities Sandbox (DSS) on September 30, a collaborative initiative by the Bank of England and the Financial Conduct Authority (FCA). This innovative sandbox allows businesses to explore the transformative potential of digital ledger technology (DLT) in the realms of notary, maintenance, and settlement processes for financial securities. The FCA recognizes that DLT can enhance market

Spheron Introduces Fizz Node for Flexible AI Compute Resources

October 2, 2024 3 mins read

Spheron, a decentralized platform harnessing compute resources, has announced the launch of Fizz Nodes, allowing users to participate in the Spheron network and earn rewards by providing computational resources to deploy AI workloads on the edge, without the rigorous reliability requirements of traditional provider node.  Fizz Nodes offer a more accessible way for individuals to participate in the decentralized network by providing GPU and CPU resources, while adhering to a more

The SEC has just days left to decide if it will appeal the Ripple case ruling

October 1, 2024 1 min read

The Ripple case is heating up as the SEC’s deadline to appeal approaches on October 7, 2024. Pro-XRP attorney Fred Rispoli believes there’s a strong chance the SEC will challenge the recent ruling that favored Ripple, which could limit the classification of XRP sales as securities. Rispoli estimates a 60/40 split in favor of an appeal, emphasizing the high stakes involved for the SEC. Legal experts, including John Deaton and

Matrixport announces the all-cash acquisition of Crypto Finance

September 30, 2024 1 min read

In a significant move within the crypto landscape, Matrixport, a prominent crypto financial services provider, has successfully acquired Crypto Finance (Asset Management) AG (CFAM), a Swiss-based investment solutions firm. This acquisition, finalized on September 30, was executed as an all-cash deal and will see CFAM rebranded as Matrixport Asset Management AG. The CFAM unit was previously part of the Crypto Finance Group, which is owned by the Deutsche Börse Group.

Roman Storm will face trial for alleged money laundering via Tornado Cash

September 28, 2024 1 min read

In a significant development for the cryptocurrency world, Roman Storm, co-founder of the controversial mixing service Tornado Cash, is gearing up for a trial set to commence on December 2, 2024, in New York. This follows a recent ruling by District Judge Katherine Polk Failla of the Southern District of New York, who denied Storm’s motion to dismiss serious money laundering charges against him. Storm, alongside his co-founder Roman Semenov,

UK Gambling Commission charges Sorare for providing unlicensed gambling services

September 28, 2024 1 min read

The UK Gambling Commission has initiated legal proceedings against Sorare, a blockchain-based fantasy sports platform, alleging that it operates unlicensed gambling facilities. Sorare, which is based in France, allows users to collect and trade non-fungible tokens (NFTs) linked to real-life athletes and fantasy sports teams. The platform has been under investigation since October 2021, but the Commission has kept its findings largely confidential until now. A court appearance is scheduled

A judge orders a fraudster to pay over $36 million in fines and restitution

September 23, 2024 1 min read

A federal judge has mandated that William Koo Ichioka pay more than $36 million in fines and restitution for his involvement in a fraudulent crypto and forex operation. The U.S. Commodity Futures Trading Commission (CFTC) issued the order on September 20. Ichioka was mandated to remit $31 million in restitution and a $5 million civil penalty. He was prohibited from trading in CFTC-regulated markets and from registering with the CFTC.

Kamala Harris pledges to expand crypto and AI sectors in her presidential campaign

September 23, 2024 1 min read

Kamala Harris, the Democratic contender for the 2024 presidential election, has committed to promoting the artificial intelligence and crypto industries, representing her initial substantial endorsement of crypto during her campaign. Harris underscored the significance of investing in America’s competitiveness and promoting breakthrough technologies such as AI and digital assets, while safeguarding consumers and investors. This commitment has garnered backing from prominent individuals in the crypto sector, including Chris Larsen, co-founder

The SEC approves options trading for BlackRock’s Bitcoin ETF with strict oversight

September 22, 2024 1 min read

The US Securities and Exchange Commission (SEC) has sanctioned options trading on BlackRock’s iShares Bitcoin Trust (IBIT), offering investors a novel instrument for hedging and mitigating risks associated with Bitcoin’s valuation. The options will function comparably to existing ETF options traded on US markets and will be subject to rigorous surveillance and control. Significant modifications in the clearance procedure encompass conservative stances and exercise limitations, restricting options to 25,000 contracts,