Market

Ripple CLO Stuart Alderoty denies claims that Trump criticized Ripple for donations to Kamala Harris

January 18, 2025 1 min read

Ripple’s Chief Legal Officer, Stuart Alderoty, has refuted claims that President Donald Trump criticized Kamala Harris for receiving financial backing from Ripple executives. Alderoty labeled these allegations as “pure fiction,” responding to unverified reports suggesting Trump confronted Ripple for not supporting his campaign. The rumors originated from various media outlets, claiming Trump accused Ripple of backing Harris instead of him. An Axios report quoted Trump allegedly asking, “When I needed

Thailand’s SEC explores spot Bitcoin ETFs

January 16, 2025 1 min read

Thailand is exploring the introduction of spot Bitcoin ETFs and stablecoins to enhance its financial system while addressing crypto-related concerns. The Securities and Exchange Commission (SEC) of Thailand is at the forefront of this initiative, signaling a shift towards greater cryptocurrency adoption. The SEC is evaluating proposals for spot Bitcoin ETFs, which would provide new investment avenues for both retail and institutional investors. Pornanong Budsaratragoon, the SEC Secretary-General, highlighted the

Court Demands SEC to Justify Its Stance on Crypto Rules After Coinbase Dispute

January 15, 2025 1 min read

The U.S. Court of Appeals for the Third Circuit has asked the SEC to clarify its refusal to establish clear regulations for cryptocurrencies. This request follows Coinbase’s appeal after receiving a Wells Notice from the SEC in March 2023, which accused the exchange of violating securities laws. One judge emphasized that the court is not forcing the SEC to create new rules but wants an explanation for its inaction. Another

MicroStrategy just acquires 2,530 BTC for $243 million

January 14, 2025 1 min read

MicroStrategy just acquired 2,530 BTC for $243 million MicroStrategy recently filed an 8-K form with the SEC, revealing it paid an average of $95,972 for each Bitcoin in its latest investment. Currently, Bitcoin is valued at $91,777, indicating a loss of about 4.4% on this investment. The company holds around 450,000 BTC, purchased at an average price of $62,691, totaling about $28.2 billion. This amount is over 45.5% lower than

The CFPB proposes a rule to hold crypto providers accountable for compensating users

January 12, 2025 1 min read

The Consumer Financial Protection Bureau (CFPB) has proposed a new rule to protect cryptocurrency users. This rule aims to make crypto service providers responsible for reimbursing users who lose money due to fraud or theft. While some people support this initiative, others criticize it for being unclear and possibly excluding non-custodial wallets. On January 10, the CFPB announced plans to expand the Electronic Fund Transfer Act (EFTA) to include cryptocurrency

Filipino banks to launch new stablecoin

January 11, 2025 1 min read

Several Filipino banks are set to launch a multi-bank peso stablecoin called PHPX later this year. This initiative involves UnionBank of the Philippines, Rizal Commercial Banking, Cantilan Bank, and the Rural Bank of Guinobatan, with Singapore’s Just Finance leading the project. PHPX will initially run on the Hedera DLT network and aims to facilitate cross-border payments, particularly for remittances. UnionBank has a history of blockchain involvement, having created a token-based

Kraken starts notifying customers about the distribution of FTX claims

January 11, 2025 1 min read

Kraken has started distributing claims for creditors of the collapsed cryptocurrency exchange, FTX. This announcement comes from Sunil, an FTX creditor activist. Creditors who opted for Kraken to manage their claims are receiving emails confirming the completion of the onboarding process. This marks an important step in repaying creditors after FTX’s bankruptcy in 2022. BitGo, another company assigned to handle claims, will begin its distribution process soon, although no specific

Portugal’s BiG Bank blocks transfers to crypto platforms

January 9, 2025 1 min read

Banco de Investimentos Globais (BiG), a major bank in Portugal, has decided to block fiat transfers to cryptocurrency platforms. This decision is based on compliance with European regulations and has sparked discussions about Portugal’s changing attitude towards cryptocurrencies. Once a haven for crypto enthusiasts, Portugal is now tightening its regulations. BiG’s move aligns with guidelines from the European Central Bank and the Bank of Portugal, focusing on anti-money laundering and

Coinbase wins court approval to appeal key legal questions in its SEC battle

January 9, 2025 2 mins read

Coinbase has achieved a major legal win against the SEC, receiving permission to appeal crucial legal questions to a higher court. On January 7, District Judge Katherine Polk Failla paused the case, allowing Coinbase to clarify whether certain digital assets on its platform are considered securities and if these transactions require an investment contract under the Howey test. The appeal centers on Coinbase’s claim that the tokens listed on its

Ethereum co-founder Vitalik Buterin warns that superintelligent AI could arrive within years

January 6, 2025 1 min read

Vitalik Buterin, co-founder of Ethereum, has raised alarms regarding the swift evolution of artificial intelligence (AI), suggesting that superintelligent AI could emerge sooner than anticipated. In a blog post dated January 5, he advocates for “defensive acceleration” strategies to mitigate potential risks associated with AI, particularly in military contexts. Buterin emphasizes the importance of decentralized AI systems that remain closely linked to human decision-making to prevent misuse, especially given the

The developer behind the AQUA Bitcoin wallet raises $5M to develop its Liquid Network wallet AQUA

January 6, 2025 1 min read

JAN3, the creators of the Bitcoin wallet AQUA, have successfully secured $5 million in seed funding to enhance the development of their Bitcoin-centric superapp. The funding round was spearheaded by Fulgur Ventures, with participation from notable investors including Tether, Grupo Salinas, Lightning Ventures, and East Ventures. This latest funding follows an earlier pre-seed round in which JAN3 raised $620,000 in early 2023. Paolo Ardoino, CEO of Tether, highlighted the wallet’s

FDIC’s “Pause Letters” urges banks to halt crypto services

January 6, 2025 1 min read

Recent documents from Coinbase reveal that the Federal Deposit Insurance Corporation (FDIC) issued “pause letters” to banks between 2022 and 2023, advising them to halt certain cryptocurrency services until the agency could better assess associated risks. These letters specifically instructed banks to stop activities like Bitcoin transactions through third-party partnerships and advanced crypto services. Coinbase’s Chief Legal Officer, Paul Grewal, argues that these communications reflect a coordinated effort to limit