Consequences of the FTX scandal at the hands of its founder and former CEO, Sam Bankman Fried, continue to surface. On Feb. 17, it was reported that the bankrupt crypto lender BlockFi Inc. appealed to the United States Bankruptcy Court in Wilmington, Delaware, to strip the Chapter 11 bankruptcy protections from SBF’s offshore investment vehicle. Emergent Fidelity Technologies Ltd. was…
Inventor of the Internet Tim Berners-Lee has lashed out at the nascent crypto sector, saying that the speculative nature of digital currencies makes them a form of gambling. “It’s only speculative,” Berners-Lee told CNBC’s Beyond The Valley podcast. “Obviously, that’s really dangerous.” “Investing in certain things, which is purely speculative, isn’t what, where I want to spend my time,” added…
The price of Ethereum’s native token, Ether (ETH), has surged by more than 40% year-to-date to around $1,750, the highest level in seven months. However, ETH price is not out of the woods yet despite several bullish cues such as the Shanghai upgrade in the pipeline. Ethereum price bull trap? Ether’s rise has appeared primarily in the wake of similar upside…
Hong Kong looks ready to invite retail traders back to the crypto casino. In a new consultation paper, the Securities and Futures Commission of Hong Kong (SFC) proposed “to allow all types of investors, including retail investors, to access trading services provided by licensed VA [virtual asset] trading platform operators.” The proposal recommends that several conditions be met before crypto…
Most remote workers in Latam prefer to get paid in crypto, according to the latest report from the Deel Lab for Global Employment. The reasons behind the finding are said to be diverse, but include the instability of some of the local fiat currencies, and the influence of high levels of inflation in the region. Remote Workers Prefer to Be…
Crypto exchange Binance has launched a new update to its fan token platform that focuses on helping sports teams engage with their fans by offering various rewards to token holders. In an announcement sent to Cointelegraph, the crypto exchange said that its fan club program will now let fans gather points that they can exchange for rewards that range from…
press release PRESS RELEASE. Like bitcoin, the four Seasonal Tokens – Spring, Summer, Autumn and Winter – are produced by proof-of-work mining and go through regular halvings that make them harder to obtain as time goes on. Once every nine months, the rate of production of one of the tokens is cut in half. That token goes from being produced…
The crypto community is continually looking for ways to bridge the gap between traditional finance (TradFi) and fiat currencies with decentralized financial (DeFi) tools. Crypto onramp platforms are a primary way users are able to cross between these two financial ecosystems. However, a new report from Cointelegraph Research and Onramper, a crypto-based financial services provider, revealed that 50% of fiat-crypto…
Galois Capital announced it will shut down after losing a substantial portion of its capital following the collapse of Sam Bankman-Fried’s FTX, according to a Financial Times report citing co-founder Kevin Zhou’s letter to investors. According to Zhou, the business is no longer tenable due to “the severity of the FTX situation.” The letter added that all trading has ceased,…
A new study by DECTA highlighted the importance of embedded finance features in today’s fintech world. With online shopping and digital payments becoming a norm, the study pointed towards some of the key drivers for a seamless experience for customers. Embedded finance is a new type of software distribution that works with financial infrastructure providers to include financial services in the ecosystems…
