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  • hong-kong-will-not-tolerate-algorithmic-stablecoins-in-new-regulation

    Hong Kong will not tolerate algorithmic stablecoins in new regulation

    The new regulatory regime for stablecoins in Hong Kong should arrive no later than 2024. In the key principles of its upcoming regulatory framework, the Hong Kong Monetary Authority (HKNA) didn’t find a place for algorithmic stablecoins. Instead, the chief financial regulator will demand all stablecoin issuers back up their values with underlying reserve assets More

  • sbf-to-forfeit-$700m-worth-of-assets-if-found-guilty-of-fraud

    SBF to forfeit $700M worth of assets if found guilty of fraud

    While most of SBF’s assets have been seized, Federal prosecutor Damian Williams outlined that the government is also looking to take control of three of his affiliated Binance accounts. According to new court filings, disgraced FTX founder Sam Bankman-Fried (SBF) will be subject to the forfeiture of roughly $700 million worth of assets if he More

  • abnormal-token-price-movements-on-binance-not-hack-related,-confirms-cz

    Abnormal token price movements on Binance not hack-related, confirms CZ

    On Dec. 11, Binance issued a notice about abnormal price movements for some trading pairs. As a result, the exchange began an investigation to narrow down suspicious accounts responsible for the issue. Crypto exchange Binance began investigating suspicious behavior on its platform after noticing abnormal price movements for certain trading pairs involving Sun Token (SUN) More

  • blackrock-ceo:-ftx-token-caused-downfall,-but-tech-still-revolutionary

    BlackRock CEO: FTX Token caused downfall, but tech still revolutionary

    Despite taking issue with tokens created by centralized exchanges, BlackRock’s CEO sees securities tokenization as the next evolution of the financial market. The CEO of the worlds largest asset management firm, BlackRock, believes that the reason why FTX failed is because it created its own FTX Token (FTT), which was centralized and therefore at odds… More

  • vitalik-buterin-offers-lessons-for-crypto-in-wake-of-the-ftx-collapse

    Vitalik Buterin offers lessons for crypto in wake of the FTX collapse

    Ethereum co-founder Vitalik Buterin said the collapse of FTX has illustrated once again that the problem lies in people, not technology. Ethereum co-founder Vitalik Buterin has spoken out in the wake of the FTX collapse, offering his thoughts and some positives from one of crypto’s biggest black swan events.In a Nov. 20 Bloomberg interview, Buterin… More

  • breaking:-bahamas-securities-regulator-freezes-ftx-assets

    Breaking: Bahamas securities regulator freezes FTX assets

    The Bahamas Securities Commission said FTX’s assets could not be moved without the approval of a Supreme Court-appointed liquidator. The Bahamas Securities Commission (BSC) — the country’s securities regulator — froze the assets of FTX Digital Markets (FDM) and “related parties” on Nov. 10 and suspended FTX’s registration in the country.In a statement the BSC… More

  • crypto-biz:-bear-market-claims-another-casualty

    Crypto Biz: Bear market claims another casualty

    German crypto bank Nuri joins a growing list of crypto service providers to shutter their doors permanently amid the bear market. Three Arrows Capital. Celsius. Voyager Digital. The list of crypto bankruptcies, shutdowns and trading freezes has been endless in 2022. And the year isn’t over yet. This week, German crypto bank Nuri urged its… More

  • tether-stablecoin-issuer-freezes-8.2m-usdt-on-ethereum:-data

    Tether stablecoin issuer freezes 8.2M USDT on Ethereum: Data

    Tether has frozen a total of 215 USDT addresses on Ethereum in 2022 so far, according to data compiled by ETH researcher Philippe Castonguay. Major stablecoin issuer Tether froze yet another batch of USDT on the Ethereum blockchain, freezing more than $8 million worth of the cryptocurrency.Crypto monitoring resource Whale Alert has identified several transactions… More

  • us-senator-bill-seeks-to-cushion-crypto-exchanges-from-sec-enforcement-actions

    US senator bill seeks to cushion crypto exchanges from SEC enforcement actions

    The Digital Trading Clarity Act of 2022 aims to provide regulatory clarity around classifying digital assets and related liabilities under existing securities laws. United States Senator Bill Hagerty, a member of the Senate Banking Committee, introduced legislation seeking a safe harbor for cryptocurrency exchanges from “certain” Securities and Exchange Commission (SEC) enforcement actions.The Digital Trading… More

  • ethereum-co-founder-vitalik-buterin-defends-daos-against-critics
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    Ethereum co-founder Vitalik Buterin defends DAOs against critics

    Buterin believes collusion and corruption can be minimized when deciding power is in the hands of the entire group, rather than an individual or small minority. Ethereum co-founder Vitalik Buterin has come out swinging in defense of Decentralized Autonomous Organizations (DAOs), arguing that in some circumstances they can be more efficient and fairer than a… More

  • entrepreneurs-must-learn-to-tackle-business-risks-in-the-metaverse

    Entrepreneurs must learn to tackle business risks in the Metaverse

    The Metaverse is fraught with risks. Implementing effective safeguards — both physical and virtual — will be critical to entrepreneurs seeking to do business there. Hyped as it is, the Metaverse remains largely undefined. It’s a challenge to answer the question “What is the Metaverse?” in part because its definition depends on whom you ask.… More

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