Singapore government-owned investment firm Temasek has suffered a lot more than just financial losses due to investing in FTX, according to Deputy Prime Minister Lawrence Wong. Wong, who is also the finance minister, believes that Temasek’s $275 million investment in FTX has caused significant damage to the company’s reputation. The official addressed the growing criticism
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In light of the recent FTX collapse and liquidity scandal, regulators in the European Union have joined other global lawmakers in a push for more clear guidelines and regulations on cryptos. The European Central Bank (ECB) released a blog post titled “Bitcoin’s last stand” on Nov. 30, which summarized the financial career of Bitcoin (BTC)
Bitcoin moved to $17,000 on Wednesday, as markets continued to digest the U.S. consumer confidence report. Confidence amongst consumers fell to its lowest level since July, despite inflation easing in the world’s largest economy. Ethereum remained higher, edging closer to $1,300. Bitcoin Bitcoin (BTC) briefly rose above $17,000 in today’s session, as traders reacted to
The Ethereum price is up 4.3% in the last 24 hours, following the general market sentiment of the crypto market. In anticipation of today’s speech by US Federal Reserve chairman Jerome Powell at the Brookings Institution, crypto bulls seem to be anticipating possible dovish comments. At press time, Ether (ETH) was trading at $1,265, with
Winklevoss brothers’ cryptocurrency exchange Gemini continues expanding in Europe, announcing new regulatory approvals in Italy and Greece. Gemini has registered as a virtual currency operator with Italy’s payments services regulator, the Organismo Agenti E Mediatori (OAM), the firm announced on Nov. 30. The crypto exchange has also received registration as a custodial wallet provider and
press release PRESS RELEASE. Doha, Qatar: For the next couple of weeks, over a billion people are glued to the TV every day watching players of their favorite team working brilliantly together to win the ultimate prize. What’s really different this time around is how much crypto plays a role in football, with team fan
According to Lamido Yuguda, the director general of the Nigerian Securities and Exchange Commission, the regulator does not plan on including cryptocurrencies in its digital asset agenda. Yuguda reportedly said the commission will only change its stance on cryptos when Nigerian regulators agree on the standards to protect digital asset investors. Commission to Promote ‘Sensible
Bitcoin (BTC) briefly returned to $17,000 into Nov. 30 as monthly close volatility loomed. Trader: $17,500 monthly close “most bullish outcome” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD following traders’ predictions to sweep higher levels before consolidating. Highs of $17,072 appeared on Bitstamp, with the pair nonetheless unable to flip the highs to
While fears surround the crypto market because of how big projects and firms file bankruptcy one after the other, community members continue to remind the world of the best use cases for cryptocurrency. On Twitter, the Cointelegraph social team asked the community to share their perspectives on what the best crypto use case is. From
Game7, a blockchain gaming-focused DAO (decentralized autonomous organization) has announced the launch of a $100 million grants program. The objective of this grants program is to support the Web3 gaming community in these times of market downturn and to advance the adoption of blockchain gaming on several chains. Game7 to Support Blockchain Gaming With $100
Cryptocurrency exchange Binance plans to reenter the Japanese market after acquiring a 100% stake in a licensed crypto service provider in the country, Cointelegraph Japan reported. In an official public announcement on Nov. 30, Binance CEO Changpeng Zhao said the crypto exchange was committed to re-entering the Japanese market under regulatory compliance. The acquisition of
Ripple has announced that it has implemented the long-awaited automated market maker (AMM) feature in a devnet yesterday. Earlier this year, the RippleX team proposed the technical specification for XLS-30d. This is a protocol-native AMM that is integrated into the order book-based DEX on the XRP Ledger. Developers can now integrate their applications directly into
Just over 12 months after raising $2 million, the Cameroonian fintech whose app allows users to buy and store crypto assets recently said it had received $8 million in its Series A investment round. According to Ruth Foxe Blader, partner at Anthemis, Ejara aims to become the one-stop platform where “a suite of financial products
Amid the ongoing manhunt for Terraform Labs co-founder and CEO Do Kwon, South Korean authorities have spread out their investigations to target other Terra executives. Prosecutors issued an arrest warrant for co-founder Daniel Shin and seven other engineers and investors of the firm following suspicion of gaining illegal profits before the massive collapse of the Terra
While Brazil has not made Bitcoin (BTC) legal tender as El Salvador did last year, the South-American nation has passed a law that legalizes crypto payments throughout the country. The Chamber of Deputies of Brazil, a federal legislative body, has passed a regulatory framework that legalizes the use of cryptocurrencies as a payment method within
Crypto exchange Kraken has settled with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) over its apparent violations of sanctions against Iran. The cryptocurrency exchange has agreed to remit $362,159 to settle its potential civil liability and invest an additional $100,000 in certain sanctions compliance controls. Kraken Settles With OFAC The
Former FTX CEO Sam Bankman-Fried has been called to a Feb. 2 hearing by the Texan securities regulator as part of an investigation into whether he and FTX US have violated Texas securities laws. In a Notice of Hearing signed off by Texas State Securities Board’s (SSB’s) director of enforcement Joe Rotunda and served to
India’s central bank, the Reserve Bank of India (RBI), is launching its first retail digital rupee pilot on Dec. 1 with the participation of eight banks. The pilot will start in four cities and then expand to cover nine more cities across India. RBI Picks 8 Banks, 13 Cities to Test Retail Digital Currency The
Up to $40 billion a year (AU$60 billion), could be added to Australia’s national GDP with the right regulatory framework and could lead to enormous cost savings for consumers and businesses according to a new report. The Nov. 29 Digital assets in Australia report was commissioned by the Tech Council of Australia (TCA), one of
