Kraken co-founder Jesse Powell has lashed out at the Securities and Exchange Commission after it sued his crypto exchange for alleged securities law violations. In a Nov. 21 post to X (formerly Twitter), Powell called the regulator “USA’s top decel” — a term used in tech circles to insult someone who slows progress — and
BNB (BNB) has gained over 7% in the last day after Bloomberg reported that the United States Department of Justice is contemplating a $4 billion settlement with Binance to resolve its investigation into the company. Cointelegraph Markets Pro shows BNB spiked 6% to $262 in around 30 minutes after Bloomberg’s Nov. 20 report, which said
Average daily transaction fees on Bitcoin (BTC) have flipped with Ethereum following a frenzy of Ordinals-related activity on the Bitcoin network. On Nov. 20, the average daily transaction fee for Bitcoin stood at $10.34, while Ethereum’s transaction fees came to an average of $8.43, according to BitInfoChart data. Bitcoin’s average daily trading fee notched a
The Blockchain Association has thrown fresh support behind six plaintiffs suing the United States Treasury Office of Foreign Assets Control (OFAC) over its sanctions on the crypto mixer Tornado Cash. In a Nov. 20 amicus curiae brief to a U.S. appellate court, the crypto advocacy group argued OFAC’s decision to sanction the privacy protocol was
Umami Labs CEO Alex O’Donnell grew up on the outskirts of Philadelphia before attending Temple University to study literature and economics. That path led him to devote seven years of his life as a financial journalist at Reuters, where he specialized in M&As IPOs. He said his academic focus created a “pretty natural synthesis” when
The United States Securities and Exchange Commission (SEC) has sued Kraken alleging it failed to register as an exchange, broker, dealer and clearing agency with the regulator and claimed it commingled customer funds. In a Nov. 20 complaint, the SEC claimed that since 2018, Kraken had operated as a platform that offered the unlawful sale of cryptocurrencies.
The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing titled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets.” The meeting began with a discussion of Hamas’s use of crypto for fundraising. However, the committee’s
Canada’s Office of the Superintendent of Financial Institutions (OSFI) has opened a consultation period on crypto asset disclosure requirements for federally regulated financial institutions (FRFIs). The consultation was foreseen in the 2023 federal budget, but its timing is tied to a similar enquiry initiated by the Bank for International Settlements (BIS). The Canadian government stated
When memecoins go parabolic, it’s usually a market top signal and a warning that investors’ euphoria has peaked. The market witnessed similar speculative fury in the 2020 to 2021 bull market when Dogecoin (DOGE) chased after $1, Shiba Inu (SHIB) rallied by tens of thousands of percent, and NFT prices hit eye-watering six to seven-digit
The US Justice Department is negotiating with Binance in an attempt to resolve its investigation into the company, according to a November 20 report from Bloomberg citing people familiar with the discussions. The agreement would require Binance to pay $4 billion in fines. In return, the company would be allowed to keep operating while complying
A pro-XRP lawyer has disclosed the final dates of the Ripple and SEC case, sharing insights into the upcoming dates and what could transpire during the hearing. Ripple And SEC Case Final Dates Disclosed Pro-XRP lawyer, John E. Deaton has revealed the dates of the final case between Ripple, the technology company behind XRP, and
The S&P 500 Index (SPX) rose 2.24% last week, its third consecutive weekly gain. In comparison, Bitcoin (BTC) managed a minuscule gain of 0.8%, indicating consolidation below $38,000. The prospects for risky assets remain bullish as the U.S. Dollar Index has started to turn down. Cryptocurrency investors have not parted with their Bitcoin holdings, even
Stablecoin issuer Tether froze roughly $225 million worth of USDT tokens as part of an investigation into a Southeast Asia human trafficking syndicate launched by the United States Department of Justice (DOJ). In a Nov. 20 announcement, Tether said it had worked with the DOJ and crypto exchange OKX to freeze $225 million USDT in
ARK Investment Management, a major cryptocurrency investment firm founded by Bitcoin (BTC) advocate Cathie Wood, isn’t giving up on its efforts to launch a spot Bitcoin exchange-traded fund (ETF) in the United States. ARK Invest, on Nov. 20, filed another amended prospectus for its spot Bitcoin ETF product developed in collaboration with the European digital asset
Proprietary trading system operator Osaka Digital Exchange (ODX) is set to kickstart the trading of digital securities in Japan through security tokens issued by two real-estate firms to fill the demand for alternative assets. In an announcement, ODX said that its trading system for security tokens commences on Dec. 25. Ichigo, a Tokyo-based company, is
The crypto community and many of its most high-profile players have started to shift their focus toward the Bitcoin halving, a 4-year cyclic event that cuts the Bitcoin market supply in half. With the next halving event scheduled for April 2024, the Bitcoin mining reward will reduce from the current 6.25 BTC per block to
The international arm of Spanish lender Banco Santander has reportedly rolled out a new service, allowing clients with Swiss accounts to invest in and trade Bitcoin (BTC) and Ether (ETH). According to a report from Coindesk claiming access to a leaked internal communication, high-net-worth individuals of Santander Private Banking International will have access to trade
Global cryptocurrency exchange-traded products (ETP) have seen a significant uptick in 2023, reportedly outpacing the growth of underlying assets, according to a report by digital asset platform Fineqia. Crypto-based ETPs issued by companies like 21Shares, Grayscale and CoinShares recorded a 91% increase in total assets under management (AUM) from Jan. 1 to Oct. 31, 2023,
Bitcoin (BTC) starts Thanksgiving week in the United States with a return to $37,000 as bulls stubbornly refuse to loosen their grip. BTC price action remains tantalizingly near 18-month highs as another weekly close provides a fresh taste of bull market momentum. The largest cryptocurrency continues to hold onto reclaimed ground, and while upside now
A hacker walked away with $25 million from quantitative trading firm Kronos Research after accessing its compromised API keys. On Nov. 19, Kronos Research revealed that an unauthorized entity accessed some of its API keys. Subsequently, the firm stopped its trading services on the platform. However, no losses were reported at the time. In the interest
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