The negative effects caused by the FTX debacle have put the crypto space in an unfavorable light. However, institutional investors continued to show interest in the industry even at the height of the FTX controversy. According to crypto exchange Bitstamp, compared to their data in October, institutional registrations within its digital asset trading platform is up by 57% in November,…
The United States House Committee on Ethics slapped Republican Rep. Madison Cawthorn (R-NC) with a $15,237 fine for violating rules protecting against conflicts of interest by promoting a cryptocurrency he had invested. The cryptocurrency he promoted is a less-known anti-Joe Biden meme coin called “Let’s Go Brandon” (LGB). The term “Let’s Go Brandon” is a coded expletive to insult President…
Despite the headwinds that have dominated the year, remittances to low and middle-income countries in 2022 still grew by 5% to $626 billion, the World Bank Migration and Development Brief has said. Africa, where the cost of sending $200 averaged 7.8% in 2022, is the “most severely exposed to the concurrent crises.” Impact of the Appreciating Ruble and Weaker Euro…
The Russian central bank continues to maintain an extremely negative stance on cryptocurrencies, proposing to ban local miners from selling coins to local people. The Bank of Russia has supported the idea of legalizing cryptocurrency mining in Russia as part of a draft bill introduced in mid-November 2022. However, the Russian central bank wants to allow miners to sell their…
Another player in the notorious OneCoin scheme will face charges of wire fraud and money laundering upon extradition to the U.S., according to a newly unsealed indictment. The document details charges filed against Frank Schneider following a Grand Jury hearing in 2020. It remained sealed until a court in the Southern District of New York approved a request made by…
Bitcoin (BTC) hit new month-to-date lows on Dec. 7 as Asian markets fell during trading. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $16,500 stands as support as BTC price wobbles Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to lows of $16,736 on Bitstamp, a level not seen since Nov. 30. The pair thus began to erase the…
New York-based hedge fund Fir Tree Capital Management has filed a lawsuit against digital asset manager Grayscale Investments over “potential mismanagement and conflicts of interest” at the firm’s flagship Bitcoin fund, according to a Bloomberg report. The news came as Grayscale Bitcoin Trust’s (GBTC) discount plunged to a record low discount of more than 43% from the underlying Bitcoin value…
After passing its landmark legislation on stablecoins in June, Japanese regulators are considering complementing it by restricting the algorithmic backing of stablecoins. The intention comes as a recommendation from the Financial Service Agency (FSA) and was repeated by the country’s Vice Minister for International Affairs, Tomoko Amaya. During his speech on crypto assets at a roundtable hosted by the Official…
The metaverse platform Decentranland announced a new platform feature which allows its users who own virtual LAND to essentially become landlords. Owners can now officially rent out their property to other users on the platform for predefined periods of time. This allows users to earn passive income off of their metaverse assets. Decentraland classifies LAND owners as accounts or wallet…
Nigeria has imposed limits on cash withdrawals in a move to push consumers towards alternatives, including its own Central Bank Digital Currency (CBDC), the eNaira. In a letter to banks and other financial institutions published on Tuesday, the Central Bank of Nigeria (CBN) applied new limits on over-the-counter withdrawals at just ₦100,000 ($225) per week for individuals and ₦500,000 ($1,123)…
