Coinbase has denied allegations from The Wall Street Journal that it engaged in proprietary trading. The exchange said Sept. 22 that the WSJ had confused its client-driven activities with proprietary trading. Proprietary trading allegation The Journal reported earlier on Sept. 22 that Coinbase created a trading group that used $100 million of the company funds …
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Sam Bankman-Fried‘s (SBF) exchange FTX is reportedly in talks with investors to raise funding up to $1 Billion at a valuation of $32 billion. Singaporean investment companies Temasek, SoftBank, and Tiger Global are among existing investors who agreed to fund FTX in the upcoming round. The exchange giant also held a funding round in January …
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The Indian government is working on implementing a goods and services (GST) tax on crypto transactions as legwork for determining the legality of the sector is underway, according to a Sept. 19 Livemint report. GST tax implementation The GST tax will become an indirect tax regime on crypto assets that will act as a check …
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Gaming-focused blockchain, Zilliqa announced that it has launched a web3 gaming console prototype with an in-built crypto miner and web3 wallet. The layer-1 network stated that the move is designed to “onboard millions of non-crypto natives into the blockchain gaming ecosystem.” Source: Zilliqa Following its recent partnership announcement with Zilliqa, the Xborg founder, Louis Regis, …
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Leading crypto exchange Binance has launched a Global Advisory Board to engage regulators worldwide to foster responsible regulation of the crypto industry. The board comprises experts ranging from a former U.S. senator to distinguished economists and global business leaders. The team will leverage their expertise, experience, and networks to advise Binance on complex regulatory, political, and social …
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An overwhelming majority of Helium’s (HNT) community has voted to migrate the wireless network to layer1 blockchain Solana (SOL). According to available information, the HIP 70 proposal received 6,177 votes (81.41%) in support of its plan, while 1,270 were against it. The vote ended in the early hours of Sept. 22, and roughly 15 million HNT …
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Yields on long-dated U.S. Treasuries have been erratic this year and this week, the 10-year Treasury yield crossed 3.5% for the first time in a decade. Following the Fed’s 75bps (basis points) rate hike, 10-year notes reached 3.642% and two-year Treasury notes jumped to a 15-year high at 4.090%. The curve between the two- and …
XRP moved to a fresh four-month high on Thursday, which comes as volatility in the crypto markets eased, following the latest U.S. Federal Open Market Committee meeting. The token rose past a key hurdle in today’s session, hitting its highest point since May. Algorand was another notable mover, with prices climbing by as much as …
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Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will soon be filed with the State Duma, a high-ranking member of the house unveiled. Financial Authorities Reach Consensus on How to Regulate Mining of Digital …
Ethereum dropped below $1,300 on Thursday, as markets continued to react to the U.S. Fed’s latest decision to raise interest rates. Following speculation of a 100-basis-point hike, the Federal Reserve hiked rates by 0.75%, as it continues to struggle against rising consumer prices. Bitcoin also declined, moving close to the $18,000 level. Bitcoin Bitcoin (BTC) …
Cryptocurrency Binance has received another license from Dubai’s crypto regulator. Binance can now provide more crypto-related services in Dubai. Binance’s New License in Dubai Cryptocurrency Binance announced Wednesday that it has received the Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). The announcement details that besides allowing Binance to “open a …
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Payments firm Ripple Labs and some of its top executives are objecting to a motion by the U.S. Securities and Exchange Commission (SEC) to seek more time or room to respond to potential new filings. Ripple Labs, its CEO Brad Garlinghouse and its executive chairman Chris Larsen said in a filing dated September 20th that …
Billionaire Mike Novogratz is predicting Ethereum (ETH) is near the bottom after its successful merge upgrade earlier this month. In a new CNBC interview, the CEO of Galaxy Digital praises the Ethereum merge and makes a bottom price prediction, while also ruling out a “catastrophic fall” in the price of Bitcoin (BTC). “Ethereum has had …
On the first day after the Merge, the decentralized finance (DeFi) community is settling into the seemingly uneventful transition of the Ethereum network from proof-of-work (PoW) to proof-of-stake (PoS). However, it has yet to be seen the benefits that hard forks will bring to PoW supporters. So far, the most important contending networks in favor …
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