The government of Dubai’s stated goal of becoming a financial technology center was boosted Wednesday when its Virtual Assets Regulatory Authority (VARA) released its 2023 rulebook for regulating cryptocurrency. The regulatory authority says any entity in the Emirate that issues virtual assets must comply with the rulebook, beginning with applying for a license to operate in Dubai. The agency says…
Robinhood Markets said Wednesday that it would try to buy back shares purchased by former FTX CEO Sam Bankman-Fried, as his 7.6% stake in the company remains a contested factor in both Bankman-Fried’s criminal case and the defunct exchange’s bankruptcy. The purchase would remove a distraction for shareholders, company CEO Vlad Tenev said on an earnings call with investors and…
Deutsche Bank’s asset management arm is in discussions to invest in two German crypto companies, according to people familiar with the matter. Per a Bloomberg report on Feb. 8, DWS Group CEO Stefan Hoops is currently in talks to buy a minority stake in Deutsche Digital Assets, a crypto exchange-traded products provider. It’s also in talks with Tradias, a market maker firm…
An ancient BTC address that has not transacted in over a decade came back to life on Wednesday—and the profits are something to behold. Since October 1 2012, address 1MMXRA held 412.12 BTC accumulated across four transactions, altogether worth just $8 at the time. No coins went in or out of that wallet until February 8, when all but a…
Major crypto exchanges have offered to help the people of Turkey to overcome the consequences of this week’s devastating earthquake. While the crypto industry pledged support, the country’s financial authorities allowed the raising of relief funds through cryptocurrency donations for a charity organization. Leading Exchanges Commit to Supporting the Victims of the Earthquake in Turkey The global crypto trading sector…
United States lawmakers with the Senate Banking Committee have announced three witnesses scheduled to appear before a hearing scheduled on Feb. 14. At the time of publication, the U.S. Senate Banking Committee’s hearing titled ‘Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets’ had witnesses including Vanderbilt University law professor Yesha Yadav, Duke Financial Economics Center policy director…
The holding company of troubled crypto lender Genesis Global Capital, Genesis Global Holdco LLC, filed for Chapter 11 bankruptcy protection in New York on Jan. 19. Genesis is the latest crypto platform to file for bankruptcy, joining Celsius, Voyager, BlockFi and FTX. The application of Chapter 11 provisions to the crypto industry raises a series of new issues for courts.…
As Uniswap DAO’s vote to deploy to BNB chain continues, LIFI CEO Phillip Zentner argued in a February 6 forum post that the current proposal is flawed. According to him, the plan to use Wormhole as the sole governance bridge for Uniswap should be abandoned. Instead, he claimed that Uniswap researchers should work on a standardized system for using multiple…
Cloud mining firm Bitfufu, one of Bitmain’s crypto firms, is delaying for the second time its plans to go public via a special-purpose acquisition company (SPAC), according to a statement on Feb. 7. The company announced its plans to go public in January 2022 through a merger with the SPAC company Arisz Acquisition Corp, anticipating to be publicly listed in…
The SEC is investigating San Francisco-based cryptocurrency exchange Kraken for violating securities laws, according to reports. Bloomberg reported Wednesday that the investigation was at an “advanced stage” and “could lead to a settlement in coming days,” citing an unnamed person familiar with the matter. Kraken is a digital assets exchange which allows customers to buy and sell cryptocurrencies like Bitcoin,…
