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The recent filing by the US Securities and Exchange Commission (SEC) expressing concerns over the proposed repayment strategy in the ongoing FTX bankruptcy case has sparked controversy within the industry. The plan, which involves repaying creditors through stablecoins or other digital assets, has raised questions about the legality of such transactions under federal securities laws.
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The cryptocurrency industry is facing a rising threat of hacks and security breaches, with recent reports showing significant losses amounting to millions of dollars. Last month alone, the sector experienced over $313 million in losses due to more than ten different hacking incidents. This highlights the growing vulnerabilities within the crypto space, putting investors and
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Bitcoin (BTC) miners experienced a significant decrease in revenue generation in the month of August, marking their worst performance in nearly a year. Data from Bitbo, an on-chain analysis platform, reveals that BTC mining activities only secured $827 million in revenue, a staggering 10% drop from the previous month’s $927.35 million. This decline is even
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Last week, digital asset investment products experienced $305 million in outflows, a significant amount that has caused negative sentiment among various providers and regions. The main reason behind this trend, according to CoinShares, is the stronger-than-expected economic data coming out of the United States. This data has lowered the probability of a 50-basis point interest
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In recent news, crypto exchange OKX’s Singaporean entity, OKX SG, has made significant strides by securing a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license is highly coveted in Singapore and allows businesses to operate without daily or monthly transaction limits. The appointment of former regulator Gracie Lin as
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Cardano has recently completed its Chang upgrade, signaling a shift towards a decentralized governance system. This upgrade, named after the Chinese mathematician Ch’ang Shou, represents a significant milestone for the ADA network. One of the key changes introduced by the upgrade is the implementation of on-chain voting, allowing ADA holders to actively participate in shaping
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The recent case of a London resident being charged with operating a Bitcoin ATM without proper registration has raised concerns about the oversight of cryptocurrency transactions in the UK. Habibur Rahman, 37, was arrested following a raid by Kent Police at a gadget shop in Chatham, where several crypto ATMs were found, including one prominently
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