Market

Alameda Research sues Waves founder Aleksandr Ivanov, seeking $90 million in a bid to recover assets lost

November 13, 2024 3 mins read

Alameda Research, a trading firm linked to the now-defunct FTX cryptocurrency exchange, has initiated legal action against Aleksandr Ivanov, the founder of the Waves blockchain platform, in a bid to recover around $90 million. This lawsuit is part of Alameda’s larger effort to reclaim assets and repay creditors affected by FTX’s downfall in 2022. The complaint, filed recently, accuses Ivanov and his companies, Numeris Ltd. and DLTech Ltd., of fraudulent

FTX intensifies its recovery efforts with 20 new lawsuits

November 12, 2024 1 min read

FTX is ramping up its legal battle by filing over 20 new lawsuits to recover assets lost to political donations, fraudulent investments, and market manipulation. These lawsuits target a range of individuals and companies, including notable figures like former White House Communications Director Anthony Scaramucci and the creators of the video game Storybook Brawl. Since its bankruptcy filing in November 2022, FTX’s administrators have launched a total of 51 legal

A Chinese official received a life sentence for espionage after selling state secrets to pay off crypto debts

November 11, 2024 1 min read

Wang Moumou, a Chinese official, has been sentenced to life in prison for espionage after he sold state secrets to British intelligence. His financial troubles, primarily due to unsuccessful investments in cryptocurrency, pushed him to commit this crime, for which he received over a million yuan in crypto payments. The National Security Ministry of China has condemned Wang’s actions but has chosen not to implicate the cryptocurrency community in his

Crypto payment gateway Alchemy Pay increases its US compliance with four additional licenses

November 8, 2024 1 min read

Alchemy Pay, a cryptocurrency payment gateway, has made significant strides in expanding its operations in the United States by securing four new money transmitter licenses (MTLs) in Wyoming, Oregon, Oklahoma, and Minnesota as of November 8th. This brings the total number of licenses held by Alchemy Pay in the U.S. to eight, following earlier approvals in states like Arkansas, Iowa, New Hampshire, and New Mexico. These licenses enable Alchemy Pay

Binance accused of charging a high amount of fees for listings

November 4, 2024 1 min read

Recently, the CEO of Moonrock Capital stirred up a conversation on Twitter by accusing Binance of imposing hefty fees for project listings. This sparked a lively debate among key figures in the cryptocurrency community, who shared a range of perspectives on the implications for decentralized projects on centralized platforms like Binance and Coinbase. In response to these claims, Yi He, Binance’s co-founder and chief customer service officer, took to her

Singapore’s central bank unveils new frameworks to promote tokenization

November 4, 2024 1 min read

Singapore is making strides in the financial sector by promoting the use of tokenization, which involves converting assets into digital tokens. The Monetary Authority of Singapore (MAS) has introduced new frameworks designed to encourage financial institutions to adopt tokenized assets, particularly in areas like fixed income, foreign exchange, and asset management. To facilitate this shift, MAS has rolled out two important frameworks that aim to enhance liquidity, build the necessary

Coinbase uncovers FDIC letters urging banks to avoid crypto services

November 3, 2024 1 min read

Coinbase has recently brought to light that the U.S. Federal Deposit Insurance Corporation (FDIC) has been advising banks to avoid offering services related to cryptocurrency. Through a Freedom of Information Act (FOIA) request, Coinbase uncovered over 20 letters from the FDIC, dating back to March 2022, which express concerns about consumer protection, financial stability, and the security of institutions involved with crypto. This has raised alarms among crypto supporters, who

VanEck partners with Kiln to offer institutional investors easy access to Solana staking

November 1, 2024 1 min read

VanEck, a prominent asset management firm, is enhancing its investment approach to Solana by teaming up with Kiln, a platform that specializes in digital asset rewards. This collaboration aims to simplify the staking process for institutional investors, allowing them to enjoy the benefits of Solana staking without the hassle of managing technical details or handling SOL tokens directly. By integrating staking solutions into its investment offerings, such as exchange-traded notes

OKX partners with Standard Chartered to offer secure, third-party crypto custody for institutional investors

November 1, 2024 1 min read

OKX, a cryptocurrency exchange, has teamed up with Standard Chartered to enhance security for institutional investors through reliable third-party custody solutions. This partnership merges OKX’s cryptocurrency expertise with Standard Chartered’s established reputation in traditional banking, aiming to build trust among institutional clients. The Chief of Security at OKX described this collaboration as a significant step forward, highlighting the critical need for trust and security as more institutional investors venture into

Tether denies allegations of a U.S. government investigation into anti-money laundering violations

November 1, 2024 1 min read

Tether has firmly rejected claims that it is being investigated by the US government for potential anti-money laundering violations, following a report from the Wall Street Journal (WSJ) that cited unnamed sources. The article suggested that federal investigators in Manhattan were looking into whether Tether had been misused by individuals involved in illegal activities. Tether responded by labeling these allegations as “pure speculation,” emphasizing that there were no credible sources

DWF Labs Dismisses Partner Amidst Allegations

October 29, 2024 1 min read

DWF Labs is currently addressing serious allegations against one of its partners, who has been accused of inappropriate behavior. In light of these concerns, the company has made the decision to remove this partner from all management and operational positions immediately. DWF Labs announced they prioritize respect and are dedicated to fostering a safe and inclusive workplace for everyone. In addition, they added that their commitment to gender diversity is

Ripple co-founder Chris Larsen calls SEC Chair Gary Gensler the “worst public servant”

October 29, 2024 1 min read

The ongoing conflict between Ripple Labs and the Securities and Exchange Commission (SEC) is heating up, particularly with Ripple’s co-founder, Chris Larsen, taking a strong stance against SEC Chair Gary Gensler. In a recent interview with CNBC, Larsen did not hold back, labeling Gensler as the “worst public servant of all time” and criticizing his handling of cryptocurrency regulations in the U.S., as well as his support for Kamala Harris’