An Indian government official says that there is currently nothing that outlaws crypto in India “as long as you follow the legal process.” Meanwhile, the country’s central bank, the Reserve Bank of India (RBI), has stressed that “cryptocurrency does not have any underlying value.” Indian Government Official on Crypto Indian government official Rajeev Chandrasekhar talked about cryptocurrency Thursday at an…
Crypto will play a “major role” in the United Arab Emirates’ global trade moving forward, says the UAE’s minister of state for foreign trade Thani Al-Zeyoudi. Speaking with Bloomberg on Jan. 20 in Davos Switzerland — where world leaders are currently gathered for the 2023 World Economic Forum — Al-Zeyoudi provided a host of updates regarding the UAE’s trade partnerships…
United States prosecutors have seized nearly $700 million worth of assets either owned by collapsed crypto exchange FTX or tied to founder and former CEO Sam Bankman-Fried, authorities disclosed in a Friday court filing. Federal authorities in the Southern District of New York have seized just over $698 million worth of assets linked to the disgraced crypto founder, according to…
JPMorgan Chase CEO Jamie Dimon calls bitcoin “a hyped-up fraud.” The executive questioned the cryptocurrency’s supply cap, expecting a picture of bitcoin’s pseudonymous creator Satoshi Nakamoto to pop up and laugh at us all when bitcoin’s supply hits 21 million coins. JPMorgan’s CEO on Bitcoin and Its Supply Cap The CEO of global investment bank JPMorgan Chase, Jamie Dimon, reiterated…
The collapse of FTX took an allegedly dangerous turn this week, as attorneys for founder Sam Bankman-Fried claimed that a driver crashed a car into the barricade at his parents’ home—and that the car’s occupants made threatening statements. According to the letter, which was sent by Bankman-Fried’s attorneys to U.S. Federal Judge Lewis Kaplan on Thursday, a driver recently crashed…
An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF, and Bo Li, deputy managing director at the IMF, believe…
This week’s crypto market rebound got another jolt on Friday afternoon as Bitcoin (BTC) blasted off to heights unseen since August 2022, with fellow market leaders like Ethereum (ETH) and Solana (SOL) also posting sizable gains. Bitcoin has peaked as high as $22,687 so far this afternoon, per data from CoinGecko, and at a current price of $22,613 has risen…
Statistics show over the course of 54 days, the number of wrapped bitcoin (WBTC) hosted on the Ethereum network has decreased by 40,156. This equates to a more than 18% redemption of the circulating supply of WBTC since Nov. 27, 2022. WBTC Remains Largest Operation in Terms of Bitcoin Custody Despite Recent Redemptions The Bitgo-backed Wrapped Bitcoin (WBTC) project has…
Bitcoin mining powers network transactions and BTC price. During the 2021 bull run, some mining operations raised funds against their Bitcoin ASICs and BTC reserves. Miners also preordered ASICs at a hefty premium and some raised funds by conducting IPOs. As the crypto market turned bearish and liquidity seized within the sector, miners found themselves in a bad situation and…
The Stellar Development Foundation (SDF) has become the newest member of the United States Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee (GMAC), the blockchain announced on its blog. The committee is preparing to meet on Feb. 13 for the first time in over a year. SDF supports the Stellar blockchain, which is used for crypto-fiat transfers. The foundation…
