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Following on what happened to one of the leading crypto service providers, FTX, and the factors that led to its collapse, it is reported that the leading virtual asset exchange is alleged to have committed something similar to that of FTX. The crypto exchange firm allegedly secretly transferred consumer funds valued at around two billion … Read more
While consumers last accessed their wallets in November of the previous year, BlockFi, the collapsed virtual asset lender, is locked in a bankruptcy lawsuit struggle. The battle is playing out on a court docket, with the struggle over user accounts becoming so tight that the company debtors have urged the creditors in the lawsuit to … Read more
Japan’s XRP Popularity Skyrockets The Proposed Cryptocurrency Licensing Regulation in Hong Kong Uchida Shinichi, Japan’s central bank executive director, announced in a Liason and Coordination Committee meeting that the bank intends to introduce a central bank digital currency. The release is set to be on April 2023, after a prosperous proof of concept (PoC). A … Read more
Brazilian Central Bank Embraces Crypto Tax Payments Metaverse Effect on Social Media Platforms EU Banks Prepare for Strict Crypto Regulations Circle Sounds the Alarm on Binance’s Token Brazilian Central Bank Embraces Crypto Tax Payments In the middle of the wide use of cryptocurrencies, the Brazilian Central Bank has utilized the opportunity to collect taxes through … Read more
Visa’s Partnerships With Wirex Strengthens Does Web3 Need Regulations? Visa’s Partnerships with Wirex Strengthens operates. A diverse American corporation, Visa partnered with Wirex, a crypto alternative banking service provider designed for Web3. Wirex and Visa made a significant footprint by opening new opportunities in the Asian region, USA and Europe at large, thus providing Wirex … Read more
The collapse and crash of the FTX cryptocurrency exchange are one of the most shocking events in the cryptocurrency space in 2022. The centralized exchange gave hints about its struggle with the market’s liquidation in the past few months. Unexpectedly, the exchange platform banned fund withdrawal (a precursor step most crashing companies take). Few days … Read more
Solana is experiencing difficulties as a result of this week’s FTX catastrophe. The system is once more exhibiting signs of instability, and the SOL value is also deteriorating. Over the last 24 hours, the Solana native coin SOL has lost about 24 percent of its worth. Not as terrible as FTT, which dropped by 75 … Read more
Gloominess hits the cryptocurrency market on Thursday as news of Binance backing out of FTX’s buyout airs. Bitcoin traded at a record low during the wee hours of the day. This came about because investors were worried that the seemingly Terra-like implosion of FTX could switch the market into selling mode. FTX Warns Against Deposits … Read more
According to a survey conducted on Tuesday, the Bank of Japan (BOJ) is beginning to assess the impacts of its long-standing ultra-low monetary policy. Likewise, it plans to analyze the possible influence transitioning from the protocol may have on Japan’s economy. BOJ Investigates The Marks Of Relinquishing Its Monetary Policy Japan’s central bankers have recently … Read more
According to a tweet by Binance’s CEO, Changpeng Zhao, Binance will liquidate its FTT holding. This news followed an alleged leak of sensitive information from FTX. CZ said the process would take months to mitigate the market impact. Binance To Dissolve Its FTT Holding Changpeng Zhao tweeted on November 6 that a recent discovery will … Read more
CoinFund To Invest In Startup Crypto Companies Coinfund, a United States-based investment company, revealed its intentions to offer unlicensed securities valued at $250M, raising capital for increased investments in crypto firms. This report was according to three papers the company submitted with the country’s exchange and security agency, SEC. According to details from market regulators … Read more
India has had mixed feelings about crypto, and that led to the placing of several restrictions. The Reserve Bank of India, the apex financial institution of the country, wanted a total crypto ban. Later, the country placed a heavy tax of 30% and 1% TDS on crypto traders. Despite the country’s attitude towards crypto and … Read more