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Turkish Crypto Exchange Associated with Hull City Sponsorship at Center of Fraud Scandal
30.11.2023
Source: Adobe / Husamex The owner of the cryptocurrency exchange Tomya, which sponsors the sports team of the famous television producer Acun Ilıcalı, Hull City, Yavuz Usta, and economist Ece Pulaş, have been arrested as part of an investigation conducted by the Istanbul Büyükçekmece Public...
US Spot Bitcoin ETF Market Sees New Entrant as SEC Decision Looms
30.11.2023
Source: Adobe Stock Switzerland-based Pando Asset has emerged as the latest contender in the race to launch a spot Bitcoin ETF in the United States. Joining dozens of other applicants, Pando Asset is seeking to introduce a fund type that has yet to receive approval from the US Securities...
Upbit Crypto Exchange Operator Dunamu Suffers 82% Drop in Profits
30.11.2023
Source: piter2121/Adobe Dunamu, the South Korean operator of the Upbit crypto exchange, has seen year-on-year profits fall by a staggering 82% in the third quarter of FY2023. The South Korean media outlet Business Post reported that Dunamu published its financial report for the third quarter...
South Korean Police Arrest 48 in ‘Crypto-powered Drug Trafficking’ Raids
30.11.2023
Source: Angelov/Adobe Police in the South Korean city of Daegu say they have raided a “drug trafficking organization” that used crypto as a payment tool – and arrested 48 people. Per Chosun Ilbo, the Daegu Police Agency’s metropolitan investigation unit arrested 44 people connected to a suspected...
SoFi to Exit Crypto Business Amid Increased Regulatory Scrutiny
30.11.2023
Source: Adobe / Goodpics SoFi Technologies Inc., a financial services company, has decided to exit the cryptocurrency sector due to increased scrutiny by banking regulators. On November 29, the company announced that it would terminate its cryptocurrency trading services for users by December...
IOTA Rolls Out $100M Abu Dhabi Foundation, Targets Middle East
29.11.2023
Source: Adobe/prima91 Open-source blockchain platform IOTA has unveiled its Abu Dhabi Foundation as part of its strategy to kickstart its Middle East expansion plans. IOTA is the first #DLT Foundation regulated with @ADGlobalMarket in #AbuDhabi ????????! The new #IOTA Foundation will be seeded with...
Wormhole Raises $225 Million at $2.5 Billion Valuation in 2023’s Largest Crypto Fundraise
29.11.2023
Source: Adobe Interoperable blockchain protocol Wormhole has achieved another significant milestone with a $225 million seed fund raised from a group of prominent investors in the crypto landscape. This fundraising is the largest in the Web3 ecosystem so far this year, propelling Wormhole’s...
Binance to End Support for BUSD Stablecoin, Remaining Balances Converted to FDUSD
29.11.2023
Binance ends BUSD support and transitions to FDUSD stablecoin after regulatory troubles. Image by maurice norbert, Adobe Stock. Major cryptocurrency exchange Binance announced today in a blog post that it will end support for its Binance USD (BUSD) stablecoin on December 15. The move comes after...
Poloniex to Resume Withdrawals Starting With TRX After $100M Hack
29.11.2023
Poloniex is resuming operations following a recent hack of exchange hot wallets. Image by Rafael Henrique, Adobe Stock. Cryptocurrency exchange Poloniex announced today that it will begin gradually resuming withdrawal and deposit services starting November 30. This comes after the platform suffered...
Coinbase Stock Outperforms Bitcoin and Ethereum: What’s Behind the Surge?
29.11.2023
Source: Adobe / piter2121 Shares of the crypto exchange Coinbase with the ticker COIN are surging in the stock market, currently trading at $128.27, the highest level seen in 2023. The current stock price surpasses the previous peak of $110.15 from July and aligns with price levels from May 2022...
CFTC’s Request for Coinbase User Data Linked to Bybit Investigation – What’s Going On?
29.11.2023
Source: Adobe / Rafael Henrique Coinbase users are reportedly receiving emails notifying them that their customer information might be shared with the US Commodities Futures Trading Commission (CFTC) following a subpoena served to Coinbase. While the exchange has not publicly commented on...
SEC in Philippines: Binance is Operating Without a License – Here’s the Latest
29.11.2023
Source: Iryna Budanova/Adobe The Securities and Exchange Commission in the Philippines has warned users that cryptocurrency exchange, Binance is operating without the required license. In a Nov 28 press release, the regulator stated that the exchange lacks authorization to sell securities to...
SEC Seeks Public Feedback For Franklin Templeton and Hashdex Spot Bitcoin ETFs
29.11.2023
Source: Adobe The United States Securities and Exchange Commission (SEC) wants public opinion on the spot Bitcoin (BTC) ETF applications of Franklin Templeton and Hashdex. In an announcement on Nov 28, the Commission highlighted the next phase in the scrutiny of spot BTC ETF applications filed...
Apple Ends Partnership With Goldman Sachs as Tech Giant Expands into Lending
29.11.2023
Source: Adobe / twinsterphoto Apple has decided to terminate its credit-card partnership with Goldman Sachs as the tech giant pushes deeper into consumer lending. Apple recently submitted a proposal to Goldman Sachs, outlining its intention to exit the contract within the next 12 to 15 months...
Ukrainian Lawmakers Mull Two Crypto Tax Bills
29.11.2023
Source: Mariana Ianovska/Adobe Ukrainian lawmakers are set to debate two crypto tax bills, as Kyiv looks to raise money from crypto traders. Per Minfin and PSM7, Yuriy Boyko, a member of the National Commission on Securities and the Stock Market, confirmed that the regulator was the author of...
Coinbase’s Custody Success: A Major Player in Nearly Every U.S. Bitcoin ETF Application
29.11.2023
Source: Adobe / prima91 Over a dozen asset managers have applied to launch a Bitcoin spot ETF in the United States this year – and Coinbase is poised to serve as custodian for virtually all of them. The firm’s custody arm, Coinbase Custody, is listed as a custodian in the S-1 registration forms...
Crypto Miner Manufacturer Caanan Reports 48% Drop in Sales – What’s Going On?
28.11.2023
Source: Adobe / Photocreo Bednarek Canaan – a China-based Bitcoin (BTC) ASIC manufacturer and operator – lost nearly half its revenue from mining machine sales last quarter, according to its Q3 earnings. Released on Tuesday, the firm’s financial results showed just $33 million in revenue for...
Spain’s Crypto Users to Declare Digital Assets on Foreign Platforms as Tax Agency Updates Guidelines
28.11.2023
Source: alexlmx/Adobe Spain’s tax administration agency, popularly called Agencia Tributaria has released new rules governing digital asset reporting in the country that will see holders declare their foreign-held assets. The tax agency released form 721, a tax reporting form for users that hold...
Hong Kong Police Receive 145 Complaints of Hounax Crypto Scam Totaling $18.9M
28.11.2023
Hong Kong authorities confirm 145 victims and nearly $19 million lost in crypto scam involving unlicensed exchange Hounax. Image by Alexey Novikov, Adobe Stock. Authorities in Hong Kong have confirmed that 145 individuals filed complaints regarding losses from an unlicensed cryptocurrency exchange...
TORN Token Price Tanks 60% Following Binance Delisting News – Here’s What Happened
28.11.2023
Source: Adobe / maurice norbert TORN, the governance token of the Ethereum-based coin mixing protocol Tornado Cash, lost more than half of its value within just an hour on Monday after Binance said it would delist the token. From trading at a price right around $4 at 6 am UTC time on Monday, TORN...