Crypto News
Judge Roasts SEC’s Lawsuit Against Coinbase, Seeks Clarity on Securities Laws
The federal judge overseeing the high-profile lawsuit alleging U.S. crypto exchange Coinbase illegally offered securities pressed the SEC lawyers with tough questions during a Wednesday court hearing. Areas covered included defining securities, the legality of staking services, and whether the regulator is overreaching its authority. Judge Katherine Polk Failla of the New York Southern District......
$2 Billion in Long-Dormant Bitcoin On the Move Post ETF Approval
Nearly $2 billion worth of Bitcoin that had been stationary for over a decade unexpectedly changed wallets this week. The reason behind the sudden transfers remains unclear, but they came on the heels of regulatory green lights for multiple-spot crypto ETFs last week. Blockchain tracker Arkham Intelligence spotted 49 addresses consolidating 49,858 BTC across just......
Gemini Gains Regulatory Clearance in France
Cryptocurrency exchange Gemini has secured official registration from French regulators to provide digital asset services in the country, according to CNBC. The authorization cements the growing allure of Europe as a prime destination for US crypto companies navigating stricter domestic oversight. Gemini wins regulatory green light from the French watchdog to serve both retail and......
Ethereum Dencun Testnet Upgrade Fails to Finalize As Expected
A highly anticipated trial run of the Ethereum Dencun upgrade deployed successfully on the Goerli test network on Wednesday but then failed to reach finalization as intended. The setback points to potential validation and software shortcomings ahead of deploying major network changes. Blockchain data shows the testnet upgrade was initiated around 6:32 UTC but did......
Sam Bankman Fried’s Parents Seek FTX Lawsuit Dismissal
The parents of convicted FTX founder Sam Bankman-Fried are working to defeat a lawsuit brought by the collapsed cryptocurrency exchange seeking the return of allegedly fraudulent asset transfers. Joseph Bankman and Barbara Fried have filed a motion to dismiss the FTX bankruptcy estate's complaint against them. In September 2022, FTX targeted Bankman-Fried's parents to recover......
Grayscale Transfers 9,000 BTC To Coinbase Prime As Bitcoin Hits $43,000
The Grayscale Bitcoin Trust (GBTC) moved an additional 9,000 Bitcoin worth over $387 million to cryptocurrency exchange Coinbase Prime on Tuesday. The trust has seen steady declines in assets under management since last week's approval of a Bitcoin spot ETF in the US. According to blockchain intelligence firm Arkham, Grayscale executed multiple transfers of 1,000......
SEC Agrees to Postpone Do Kwon Trial For Extradition Completion
The U.S. Securities and Exchange Commission has consented to delay the civil trial against Do Kwon, co-founder of the failed stablecoin TerraUSD, to allow time for his extradition. Kwon was scheduled to face trial over allegations he violated securities laws in the wake of the $40 billion Terra ecosystem wipeout. SEC filing agrees to adjourn......
EU Banking Watchdog Issues Anti-Money Laundering Rules for Crypto Firms
The European Banking Authority (EBA) has published new guidelines extending its anti-money laundering (AML) and counter-terrorism financing (CTF) requirements to cryptocurrency companies. The rules provide guidance to crypto asset service providers (CASPs) on identifying risk exposure and effectively mitigating financial crime vulnerabilities. EBA extended the scope of existing AML/CFT guidelines to harmonize the compliance approach......
Tether Pushes Back on UN Crypto Crime Report, Calls for Blockchain Education
Major stablecoin issuer Tether rebutted a recent United Nations (UN) report highlighting the use of its USDT stablecoin in illicit financial activity. In a blog post, Tether touted the transparency of blockchain transactions and its assistance to global law authorities while criticizing the analysis as overly narrow. The UN report centered on stablecoins, presenting money......
OKX Subsidiary Secures VASP License in Dubai
The Dubai subsidiary of major cryptocurrency exchange OKX has secured a virtual asset service provider (VASP) license from regulators in Dubai, according to the details shared in the press release. The license will enable the platform to launch localized fiat currency support and spot trading pairs for United Arab Emirates dirham (AED) when it becomes......
Bitcoin is a ‘Highly Speculative, Volatile Asset,’ Says SEC’s Gensler
Securities and Exchange Commission Chair Gary Gensler elaborated on the agency's groundbreaking move to greenlight a Bitcoin ETF in an interview with CNBC recently. Gensler said the approval stems from consideration of a new court ruling while cautioning retail investors on crypto market risks. Speaking with CNBC's Andrew Ross Sorkin, Gensler pointed to a recent......
Genesis Global Settles with NYDFS, Pays $8M: Exits New York
The New York State Department of Financial Services (NYDFS) has reached a settlement agreement with crypto trading firm Genesis Global Trading over significant compliance violations. Genesis will pay $8 million, forfeit its state trading license, and shut down operations in New York, as the regulator shared exclusively with Fortune. NYDFS said an investigation uncovered major......
BlackRock CEO Backs Ethereum ETF Day After Bitcoin ETF Debut
BlackRock, the world's largest asset manager, has come out in favor of an Ethereum ETF. The comments from CEO Larry Fink came just one day after the firm's long-awaited Bitcoin ETF began trading. In an interview on CNBC, Fink endorsed the concept of an Ethereum investment product accessible to mainstream investors. "I see value in......
Coinbase Partners with Yellow Card to Boost USDC in 20 African Countries
Coinbase has announced a collaboration with the African cryptocurrency exchange Yellow Card. The collaboration aims to significantly improve access to the popular USDC stablecoin across 20 countries in Africa. https://twitter.com/coinbase/status/1745551469535977675 The partnership will leverage Coinbase's global infrastructure and Yellow Card's existing presence in emerging African economies. Features launching in February are designed to make acquiring......
South Korean Firms Halt Spot Bitcoin ETF Services After Regulator Warning
Major South Korean firms, including industry giants Samsung and Mirae Asset, have suspended brokerage services for foreign-listed spot Bitcoin ETFs. The move shared by a local news media outlet comes after the country's financial regulator, the Financial Services Commission (FSC), issued a notice cautioning that facilitating trades of offshore spot crypto ETFs may violate existing......
Dogwifhat Trader Faces $5.7 Million Slippage Loss in Unlucky $9 Million WIF Purchase
An unlucky trader recently bought nearly $9 million worth of dogwifhat (WIF), a viral meme coin on the Solana blockchain. This purchase was executed through three transactions totaling $6.25 million, $1.78 million, and $893,000. The move ended the trader with a slippage loss of over $5.7 million. https://twitter.com/0xGumshoe/status/1745233155529830454 Blockchain data linked to the Solana wallet......
Vanguard Stays on the Sidelines as U.S. Spot Bitcoin ETFs Debut
Vanguard, a prominent investment management company, refrained from offering access to spot Bitcoin ETFs on the first day of their trading in the United States. This decision left Vanguard users unable to participate in the action surrounding the newly approved 11 spot funds by the Securities and Exchange Commission (SEC). Key Points: Vanguard cites the......
Spot Bitcoin ETFs Spark $2.6B Opening Day Trading, Bitcoin Slumps Below $46,000
Approved spot Bitcoin ETFs unleashed opening-day trading volumes surpassing $2.6 billion. This signifies intense pent-up demand for regulated cryptocurrency exposure. Bitcoin surged past the $49,000 mark, a level not seen since December 2021, following the commencement of Bitcoin ETF trading. All the 11 spot ETFs began trading, and over $2.6 billion changed hands within the......
Bitcoin Crashes As SEC Approves All Spot Bitcoin ETFs
The cryptocurrency industry has reached a significant milestone as the U.S. Securities and Exchange Commission (SEC) has officially approved all Spot Bitcoin ETFs. This groundbreaking decision comes after months of anticipation, with over a dozen firms submitting applications for the issuance of this investment product. The approval opens the door for major asset management firms,......
Hackers Seize CoinGecko X Account, Promotes Fake Token Sale
In the latest high-profile X breach targeting the crypto sector, data tracking platform CoinGecko saw its primary social media account compromised this week. The hackers took control and broadcast fraudulent token sale announcements. The incident marks the second X crypto compromise in days as social engineering risks heighten across Web3 amid the swollen ranks of......
