On Dec. 15 lawyers representing FTX filed a motion with the United States Bankruptcy Court seeking permission to sell off the firm’s Japanese and European branches, derivatives exchange LedgerX and stock-clearing platform Embed. The lawyers note that each of these businesses have been under pressure from regulators, which “merit[s] an expeditious sale process,” adding: “The longer operations are suspended, the…
Former president and crypto hater Donald Trump’s bizarre NFT collectible project has left the community baffled. Even conservatives and avid MAGA supporters are scratching their heads, while analyst Eric Wall likened the project to a “SimpDAO.” In what Trump called a “major announcement” via his social media platform Truth Social on Dec. 15, the former president unveiled a collection of…
Sam Bankman-Fried, the jailed founder of bankrupt cryptocurrency exchange FTX has reportedly filed a new application for bail in the Bahamas Supreme Court following his previous unsuccessful bail bid. Local media on Dec. 15 reported the founder submitted the application and that it would be heard before the court in just over one month’s time on Jan. 17, 2023. However…
The Central Bank of Russia has introduced measures to protect entities working with digital assets from sanctions pressures. These businesses will be exempted from some reporting requirements as part of a regulatory relief intended to minimize the burden on financial organizations. Russia’s Central Bank Eases Supervision of Digital Asset Platforms Amid Sanctions The Central Bank of the Russian Federation (CBR)…
Financial product comparison website Finder.com is being sued by Australia’s financial services regulator for allegedly offering a cryptocurrency yield-bearing product without the required license. It’s the second local provider of a crypto yield product to be targeted by the regulator, following action against Block Earner in November The Australian Securities and Investments Commission (ASIC) began court proceedings on Dec.15 local…
Blockchain infrastructure company Blocknative announced Thursday it had raised $15 million in Series A-1 financing, bringing the total amount raised by the Ethereum block processor to $34 million. Joining in the Series A-1 raise are Blockchain Capital, Foundry Group, Rho, IOSG Ventures, Robot Ventures, Fenbushi Capital, HackVC, Industry Ventures, and others. Launched in 2018, Blocknative processes transactions on the Ethereum…
Bitcoin (BTC) miner Core Scientific’s stock has soared nearly 200% in the past four days, following the positive reception for a Dec. 14 financing proposal from a current creditor who is hoping the firm can avoid bankruptcy. Shares for the embattled miner were sitting just over 13 cents on Dec. 12, before climbing to nearly 40 cents as the market…
Humanitarian groups have increasingly used blockchain technology to solve problems with lack of banking or inadequate identity verification in developing or war-torn nations. Two new projects have been announced in December, including one that provides cash aid to Ukrainian refugees through the Stellar network and another that plans to offer cash and vouchers through the Partisia network. But past blockchain…
Two U.S. senators, including Elizabeth Warren, have introduced a bipartisan bill for the regulation of cryptocurrency. The bill, titled “Digital Asset Anti-Money Laundering Act,” is “the most direct attack on the personal freedom and privacy of cryptocurrency users and developers we’ve yet seen,” according to crypto advocates. Digital Asset Anti-Money Laundering Act of 2022 Launched U.S. Senators Elizabeth Warren (D-MA)…
Warner Music Group is continuing to forge metaverse alliances with startups, this time inking a deal with DressX—which creates digital fashion wearables both on and off the blockchain—announced on Thursday. Through the partnership, Warner Music artists will be able to create and license digital wearables and merchandise for fans. The items will be 3D avatar wearables or augmented reality (AR)…
