Browsing:Market News

The European Union has announced a provisional agreement to strengthen anti-money laundering (AML) regulations
3 months ago 1 min read

EU Toughens Anti-Money Laundering Rules for Crypto, Introduces KYC for Transactions Over €1,000

The European Union has announced a provisional agreement to strengthen anti-money laundering (AML) regulations, with a particular emphasis on the crypto sector. The proposed restrictions, which were announced in a recent press release, include stringent measures such as know-your-customer (KYC) checks on transactions exceeding €1,000, even if they involve self-hosted wallets. Key regulatory changes suggest that crypto-asset service providers (CASPs) must conduct due diligence on customers involved in transactions worth €1,000 or more. Further, the rules are specifically aimed at self-hosted crypto wallets to mitigate perceived risks associated with transactions through them. Also, the new regulations are part of a

BlackRock's iShares Bitcoin Trust (IBIT) has reached $1 billion in assets under management (AUM) in its first week of trading.
3 months ago 1 min read

BlackRock’s Bitcoin ETF Reaches $1 Billion AUM Milestone Amid Crypto Market Correction

BlackRock’s iShares Bitcoin Trust (IBIT) has reached $1 billion in assets under management (AUM) in its first week of trading. This makes BlackRock the first Bitcoin ETF provider to reach this significant AUM milestone. IBIT, which has $1 billion in assets under management, began trading on January 12, indicating strong investor interest in the newly launched bitcoin ETF. Robert Mitchnick, BlackRock’s Head of Digital Assets, expressed enthusiasm for the achievement and emphasized the company’s long-term commitment to providing investors with access to a high-quality ETF. According to statistics, bitcoin accounts for 99% of IBIT’s total assets, with fiat currency accounting

Rocket Pool's X Account Faces Fake Hack Warnings
3 months ago 1 min read

Rocket Pool’s X Account Faces Fake Hack Warnings

Rocket Pool, a major Ethereum Decentralized Application (DApp), is dealing with an issue involving alleged hack warnings on its X (formerly Twitter) account. Users are advised to be cautious and ignore these messages while the problem is being resolved. According to reports from X users, Rocket Pool’s X account received six warning posts alleging a potential hack. These messages, suggesting system vulnerabilities and advising users to relocate their assets for safety, appeared around 6:30 p.m. UTC. Despite being removed at 7:05 p.m., they reappeared shortly after, confusing the community. The messages distributed on Rocket Pool’s X account included warnings about

Thailand's SEC has declined to approve the trading of spot Bitcoin ETFs
3 months ago 1 min read

Thailand’s SEC says no to Bitcoin ETF trading while allowing digital investments through local exchanges

Thailand‘s Securities and Exchange Commission (SEC) has declined to approve the trading of spot Bitcoin ETFs, indicating a cautious approach to these investment products. The decision comes after the recent approval of Bitcoin ETFs in the United States, including industry leader BlackRock. On January 17, local media reported that the Thai SEC is currently unprepared to support spot Bitcoin ETFs in the country. Despite the US approving 11 companies to launch Bitcoin ETFs, Thai authorities point to a lack of appropriate policies to facilitate such offerings domestically. While the United States has made significant progress in approving Bitcoin ETFs, Thailand’s

A Ethereum (ETH) developer recently praised Ethereum Improvement Proposal 1559 (EIP-1559)
3 months ago 2 mins read

Ethereum Developer Praises EIP-1559 as “The Great Equalizer”

Péter Szilágyi, an Ethereum (ETH) developer, recently praised Ethereum Improvement Proposal 1559 (EIP-1559), describing it as “the great equalizer.” In a post published on January 16, Szilágyi praised the protocol’s ability to level the playing field between validators and regular Ethereum network users. EIP-1559, implemented to improve Ethereum’s gas fee mechanism, introduced the concept of a “base fee” that users could bid for transactions. The base fee is then burned off or transferred to an irretrievable wallet. According to Ultrasound Money data, over 3.9 million ETH have been burned since the introduction of EIP-1559. In the last week alone, the

SBF's Parents Seek Dismissal of Lawsuit, Reject Fraud Allegations
3 months ago 1 min read

SBF’s Parents Request Dismissal of their Lawsuit, Denying Involvement in any Fraud or Bad Management

The parents of former FTX CEO Sam Bankman-Fried (SBF) have categorically denied any involvement in fraud or mismanagement within the FTX organization. The lawsuit, filed in September 2023, accused SBF of misusing funds and directing donations for personal gain, prompting a strong defense from his parents. SBF’s parents, represented by a lawyer, emphasized their lack of executive positions at FTX and Alameda Research, the two companies at the center of the controversy. The defense argued that SBF’s parents cannot be held liable for their son’s actions as FTX CEO, pointing out that the lawsuit only addresses limited company interactions. One

Binance and Gulf Innova have joined forces to launch Binance TH
3 months ago 1 min read

Binance and Gulf Innova launched Binance TH, a new crypto exchange in Thailand

Binance and Gulf Innova have joined forces to launch Binance TH, a cutting-edge crypto exchange tailored for the Thai market. The exchange, which is now open for business, represents a strategic collaboration that prioritizes security, transparency, and local support. CEO Nirun Fuwattananukul expressed gratitude for the collaboration and emphasized the importance of working closely with Thai regulators to bring this innovative platform to fruition. Binance TH is intended to provide Thai users with a smooth and secure trading experience. The exchange facilitates Thai baht transactions, increasing accessibility for local users. Binance TH is committed to adhering to Thailand’s SEC rules

3 months ago 1 min read

UN report reveals Tether USDT’s role in money laundering and scams

According to a recent United Nations report, Tether (USDT), a popular stablecoin, has been linked to money laundering and scams in Southeast Asia. The report sheds light on the various ways Tether is abused, with a special emphasis on its link to illegal online gambling sites. According to the UN findings, Tether is frequently used in illegal activities, particularly illegal online gambling. The stablecoin is a popular choice for those orchestrating scams and engaging in money laundering schemes throughout Southeast Asia. The report also reveals the use of Tether in hidden frauds, such as “pig butchering,” which is frequently associated

Do Kwon Seeks Trial Delay Amid Montenegro Extradition Delays, SEC Allegations Loom
3 months ago 1 min read

Do Kwon seeks to delay his US trial as extradition from Montenegro faces delays

In a recent legal development, Do Kwon, the former CEO of Terra, has requested that his trial in the United States be postponed. The trial, which is centered on charges brought by the US Securities and Exchange Commission (SEC), could be delayed due to Kwon’s extradition from Montenegro. Kwon’s legal team informed Judge Jed S. Rakoff in a letter that the extradition process from Montenegro is moving more slowly than expected. Kwon’s lawyers believe he will not be extradited until February or March, prompting a request to postpone the trial until mid-March to allow him to attend. If the court

Vanguard Faces Backlash as Cathie Wood Criticizes Bitcoin ETF Rejection
3 months ago 1 min read

Cathie Wood criticizes Vanguard’s rejection of Bitcoin ETFs

The Securities and Exchange Commission’s (SEC) approval of Bitcoin ETFs, a recent twist in the crypto landscape, marked a significant milestone for the digital asset realm. However, Vanguard, the investment giant, has chosen not to include Bitcoin ETFs in its offerings, drawing criticism from prominent figures such as Cathie Wood, CEO of Ark Invest. Cathie Wood publicly expressed her dissatisfaction with Vanguard’s decision, calling it “terrible.” She expressed concern that the investment behemoth might prevent investors from participating in what she called the “first global, decentralized monetary system.” Wood’s criticism highlights the schism in the investment industry over the adoption

Representative Michael Collins
4 months ago 1 min read

US Politicians Invests in Crypto Ahead of SEC’s Bitcoin ETF Approval

US politicians, who are typically associated with stocks and bonds, are making waves in the crypto space, with one representative facing scrutiny over substantial investments made just before the SEC’s recent approval of the first US Bitcoin ETF. The move has sparked speculation about the possibility of an Ethereum ETF being approved soon. Representative Michael Collins, known for his traditional investment focus, made a significant $65,000 investment in Ethereum (ETH), the world’s second-largest crypto. This investment was made strategically between January 3 and January 8, just before the SEC approved the first US Bitcoin ETF on January 10. Collins’ Ethereum

South Korea has maintained its ban on crypto ETFs,
4 months ago 1 min read

South Korea Holds Firm on Crypto Investment Ban for Financial Stability Despite US Bitcoin ETF Approval

Following the approval of a Bitcoin Spot ETF by the US on January 10th, South Korea has maintained its ban on crypto ETFs, citing concerns about financial stability and investor protection, according to local media reports. While the United States embraces the new era of Bitcoin Spot ETFs, South Korea’s financial regulator remains committed to existing rules that limit the inclusion of crypto in the ETF landscape. The decision reflects the country’s cautious approach to the evolving crypto landscape, which is rooted in the goal of maintaining financial stability. South Korean law currently restricts ETFs to traditional financial instruments and

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