HSB bank has launched crypto services in Hong Kong
10 months ago 1 min read

HSBC Launches Cryptocurrency Services in Hong Kong, Expanding Its Digital Offerings

HSBC, one of the world’s largest banking institutions, has reportedly launched cryptocurrency services in Hong Kong, further solidifying the growing acceptance of digital assets within the traditional financial sector. According to a recent report, HSBC has introduced services that enable customers in Hong Kong to invest, trade, and hold cryptocurrencies. This move comes as a response to the increasing demand from customers who are interested in exploring the world of cryptocurrencies and incorporating them into their investment portfolios. The launch of cryptocurrency services by HSBC signifies a significant milestone for the adoption of digital assets in mainstream banking. By providing

AAVE and COMP leading the rally with a 30% surge.
10 months ago 2 mins read

AAVE and COMP Lead the DeFi Sector Rally with 30% Surge

The decentralized finance (DeFi) sector is witnessing a notable resurgence, with top tokens, including Uniswap, Aave, Compound, and Synthetix, outperforming the broader markets. In the past 24 hours, these DeFi assets have experienced significant double-digit gains, with AAVE and COMP leading the rally with a remarkable 30% surge. The rising interest in DeFi is evident as both the total value locked in DeFi protocols and the market cap of DeFi assets have witnessed a steady increase of over 10% in the last ten days. DeFi Tokens Outshine the Market While the top ten crypto assets by capitalization traded within a

CryptoLaw Founder
10 months ago 1 min read

Ripple-SEC Lawsuit Draws in Millions of Users, Says CryptoLaw Founder, Boosting XRP Adoption

The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has led to a significant increase in the number of XRP holders, according to John Deaton, founder of CryptoLaw.US and a supporter of Ripple. Deaton argues that the regulatory scrutiny has inadvertently served as a promotional campaign for Ripple and its digital asset. With over 4 million XRP wallet addresses now in existence, Deaton suggests that many holders may still be unaware of Ripple’s role and the purpose of XRP. In a separate tweet, Deaton highlighted the fast payment processing capabilities of XRP compared to Bitcoin.

Binance.US Resolves USD Withdrawal Issues
10 months ago 1 min read

Binance.US Resolves USD Withdrawal Issue, But Warns of Potential Disruptions

Binance.US, the United States-based cryptocurrency exchange, has successfully resolved the issue concerning the withdrawal of US dollars. The exchange collaborated closely with its banking partners to rectify the problem, providing users with the ability to withdraw USD without any hindrance. However, Binance.US has cautioned customers that this resolution may only be temporary. In a recent update, the exchange assured users that its system is fully operational and the processing time for US dollar withdrawal requests is expected to return to the standard five-business-day turnaround period. This comes after Binance.US temporarily suspended dollar deposits and warned customers about an upcoming pause has obtained a regulatory license in Spain
10 months ago 1 min read Obtains Regulatory License in Spain, Expands Global Presence, a prominent centralized cryptocurrency exchange, has obtained a regulatory license in Spain, enabling it to expand its services to users in the country. The exchange has also recently shut down its institutional business in the United States due to limited demand. The VASP registration in Spain allows to offer its comprehensive suite of products and services to users in the country, including spot trading, margin trading, staking, and DeFi. The exchange conducted a thorough review to ensure compliance with the Anti-Money Laundering Directive (AMLD) and other financial crimes laws. Kris Marszalek, the CEO of, expressed his satisfaction

The U.S. SEC has agreed to defer the payment of a $30 million fine for BlockFi
10 months ago 1 min read

SEC Postpones $30 Million BlockFi Fine to Aid Creditor Reimbursements

The U.S. Securities and Exchange Commission (SEC) has agreed to defer the payment of a $30 million fine for BlockFi, a bankrupt crypto lender. The move aims to prioritize the reimbursement of creditors and maximize the amount that can be distributed to investors. BlockFi is currently in the midst of bankruptcy proceedings following the collapse of FTX. The company still owes $30 million from a $50 million penalty imposed by the SEC in 2021. The penalty was related to charges of failing to register for the offering and sale of its lending products. Initially, BlockFi proposed that the payment to

crypto whales have withdrawn over $150 million worth of Ethereum (ETH)
10 months ago 1 min read

Ethereum (ETH) Whales Move $150 Million From Binance and Kraken Exchanges

Three prominent crypto whales have withdrawn over $150 million worth of Ethereum (ETH) from the popular crypto exchanges Binance and Kraken. The significant withdrawals were made from newly created wallets, as reported by blockchain tracker Lookonchain. The withdrawals come amid a wave of regulatory scrutiny on the digital asset sector in the United States. The U.S. Securities and Exchange Commission (SEC) has filed lawsuits against Binance and Coinbase, two leading crypto exchanges, for alleged securities law violations. This has raised concerns among traders and investors, who may be opting to self-custody their assets in order to protect them from government

Cryptocurrency exchange FTX has filed a lawsuit against several investment firms it was previously associated with before its collapse.
10 months ago 2 mins read

FTX Files Lawsuit Seeking $700 Million from Former Investment Firms and Associates

Cryptocurrency exchange FTX has filed a lawsuit against several investment firms it was previously associated with before its collapse. The lawsuit, filed in the United States Bankruptcy Court for the District of Delaware, includes 16 counts and aims to recover over $700 million from the defendants. The defendants named in the lawsuit filing are K5 Global, an incubator and investment company, as well as Mount Olympus Capital, SGN Albany Capital, and affiliated entities. Additionally, Michael Kives and Bryan Baum, co-owners of K5 Global, are also named as defendants. The lawsuit alleges that FTX-affiliated crypto trading firm Alameda Research allegedly transferred

The head of Binance Brazil has been summoned to testify before the Brazilian Parliament's probe
10 months ago 1 min read

Brazil Accuses Binance of Operating Pyramid Scheme, Threatening Reputation

The head of Binance Brazil, Guilherme Haddad, has been summoned to testify before the Brazilian Parliament’s probe into suspected pyramid schemes in the country. The request, made by Brazilian Deputy Alfredo Gaspar, awaits a decision by the Parliamentary Commission of Inquiry (CPI) on June 27. If approved, Haddad will be obligated to answer questions before the Brazilian Chamber of Deputies, shedding light on Binance‘s activities in the country, its relationship with B Fintech (its official representative), and any connections with companies facing legal issues for consumer harm. Gaspar has alleged that Binance facilitated pyramid schemes in Brazil through asset transfers,

Kraken crypto exchange saw a net outflow of 225,000 Bitcoin (BTC)
10 months ago 1 min read

$225 Million Worth of Bitcoin Withdrawn from Kraken, Marking Second-Largest Outflow

Kraken, one of the world’s largest cryptocurrency exchanges, saw a massive outflow of Bitcoin on June 22, 2023. According to data from the on-chain analytics platform Glassnode, the exchange saw a net outflow worth an estimated $225 million. This is the second-largest Bitcoin outflow in Kraken’s history, only surpassed by an outflow of 240,000 BTC in December 2017. The outflow comes at a time when the cryptocurrency market is facing increased volatility, with Bitcoin prices falling below $30,000. It is unclear why investors are withdrawing Bitcoin from Kraken. Some analysts believe that the outflow could be due to concerns about

Neutron cross-chain smart contract platform has raised $10 million
10 months ago 2 mins read

Binance Labs and CoinFund Lead $10M Funding Round for Neutron

Neutron, a cross-chain smart contract platform focused on interchain security within the Cosmos ecosystem, has raised $10 million in a funding round led by Binance Labs and CoinFund. Other notable participants in the funding round include Delphi Ventures, LongHash, and Nomad. The funding will be used to advance the development and growth of Neutron’s blockchain software and support the expansion of its ecosystem. Binance expressed its intention to create an environment that attracts a wider community of developers and projects, with the goal of fostering innovation, security, and user-friendly decentralized applications (DApps). Yibo Ling, Binance’s Chief Business Officer, emphasized the

Ripple Secures Regulatory Clearance in Singapore
10 months ago 2 mins read

Ripple Receives Initial Regulatory Approval in Singapore, Expanding its Footprint in APAC

Ripple, a leading provider of enterprise blockchain and cryptocurrency solutions, has received in-principle approval from the Monetary Authority of Singapore (MAS) to provide digital payment token services and products in Singapore. This regulatory approval enables Ripple to expand the utilization of its On-Demand Liquidity (ODL) service, which relies on cryptocurrency. The ODL service offered by Ripple, which employs XRP as a bridge currency, has experienced remarkable growth worldwide throughout 2022. Singapore, acting as Ripple’s Asia-Pacific headquarters, played a vital role in facilitating this expansion. Notably, Singapore facilitated the majority of global ODL transactions in 2022. In response to this surge