Cryptocurrency

Cryptocurrency
US State Regulators Launch Genesis Global Capital Investigation Citing FTX-Related Contagion Fears

Genesis, a well-known cryptocurrency lender ranked among the top lenders worldwide, is reportedly being scrutinized by regulators in the state of Alabama and other US states.  A thorough investigation is being conducted by the state securities department into issues related…

Cryptocurrency
Binance Co-founder CZ Says Governments Should Regulate Cryptos As Opposed to Fighting them

According to Binance CEO Changpeng Zhao, the adoption of cryptocurrencies will come regardless of how countries choose to respond to them.  In his opinion, countries would do well to regulate cryptos as opposed to fighting them.  Crypto Regulation Debates Are…

Cryptocurrency
Alameda Research Withdrew $204 million from FTX.US Before Bankruptcy Filing

Alameda Research withdrew $204 million from FTX US prior to its collapse, according to blockchain analytics company Arkham Intelligence. Different International Wallets Alameda, FTX exploiter ($49 million), and Amber Group ($40 million) were the top three organizations who withdrew the…

Cryptocurrency
Kenya Seeks to Tax Crypto Owners and Recognize Cryptos As Securities In Proposed Law

Kenya is attempting to tax more than 4 million owners of digital assets through a new bill that, if passed, will put this quickly expanding sector under regulatory scrutiny for the first time ever in the East African nation’s history.…

Bitcoin
Binance Publishes BTC Proof Of Reserves to Reassure Customers Of Funds Safety

As promised by CZ, the CEO of Binance, the exchange has made public its proof of reserves for Bitcoin. On-chain reserves totaling more than 582,000 BTC—more than 1% of the entire amount of client deposits—back consumer funds. Proof Only Covers…

Bitcoin
Belgium Declares that Bitcoin and Ethereum Are Not Securities

Belgium’s Financial Services and Markets Authority has declared that crypto assets without issuers, like Bitcoin (BTC) and Ethereum (ETH), are not securities. In a press release on November 24, the financial regulator stated that it is unconcerned with the technology…

Cryptocurrency
Billion-Dollar Binance Crypto Recovery Initiative Pulls In $50 Million From 7 More Investors

The largest cryptocurrency exchange in the world, Binance, has announced the launch of the $1 billion Industry Recovery Initiative, which will support struggling crypto businesses. With that piece of news blowing up the crypto space, 7 additional businesses are now…

Bitcoin
Grayscale Holds 633K Bitcoins According to An Independent Research Report

Since FTX’s demise, other exchanges and digital asset managers have been under growing pressure to show that they actually have the cash they claim to. A major black swan event would be the liquidation of GBTC’s holdings or its collapse…

Bitcoin
Kaspersky: Crypto Scammers Will Soon Move Away From Using Bitcoin

Ransomware negotiations and payments may soon rely less on Bitcoin as a form of payment, according to cybersecurity firm Kaspersky. The company with Russian roots ascribed this shift to advancements in the technology used to track Bitcoin’s movement and suppliers,…

Cryptocurrency
DeFi Platform InsurAce to Pay Out FTX Claims And Launches Crypto Deposit Insurance Scheme

Efforts continue to be made to restore investor trust in the crypto markets. DeFi insurance provider InsurAce is introducing the “Crypto Deposit Insurance Scheme,” a new crypto deposit insurance program (CDIS.)  Reaction to Ailing CeFi Industry The product is being…