Crypto News
Judge Denies Bankman-Fried Bid to Delay Sentencing Process
A federal judge rejected Sam Bankman-Fried’s push to postpone deadlines related to his sentencing on FTX fraud convictions. The former CEO now faces the presentencing interview as scheduled. In a Wednesday letter, Bankman-Fried’s defense team argued sentencing should be tabled pending potential additional charges tied to FTX’s demise that may proceed to a second trial.......
UK Unveils Next Steps for Digital Securities Sandbox
The UK government outlined the next steps this week to establish a financial sandbox. The move will allow companies to test tokenized versions of traditional securities. By enabling experimental pilot programs, officials hope to position the country as an innovation hub for asset tokenization and digital securities. Particularly, this is as the technology moves toward......
Dubai Crypto Blueprint Sets An Example For Global Nations
Dubai’s dedicated crypto regulator, VARA, continues to lay the groundwork to transform the Gulf emirate into a global virtual asset hub. This is after the city rolled out a comprehensive regulatory regime for cryptocurrency companies. Dubai's Virtual Asset Regulatory Authority sculpted guidelines pegged to global best practices for crypto service providers eyeing Dubai operations in......
Ledger Vows Compensation for $600,000 Hack Victims
Crypto hardware wallet company Ledger pledged wide-ranging responses this week after a code exploit allowed a hacker to drain an estimated $600k in user funds on December 14th. In a lengthy X tweet, Ledger affirmed that it will fully compensate all victims impacted by the attack by the end of February 2024. This includes reimbursement......
40+ Countries Pursued Crypto Rules in 2023, But There’s A Catch
Over 40 countries engaged in some form of crypto regulation or legislation this year, according to a PriceWaterhouseCoopers report published Tuesday. Even though the report signals steadily growing government interest, the analysis indicates major gaps and inconsistencies remain across jurisdictions. The professional services firm found that despite expanding engagement, crypto oversight is still emerging in......
Michael Saylor: Bitcoin ETF Is The Biggest Wall Street Development in 30 Years
In a recent conversation with Bloomberg, Michael Saylor, co-founder and executive chair of MicroStrategy, shared insights into the future of Bitcoin. He touched upon the significance of spot ETFs, and MicroStrategy's unique position. https://twitter.com/saylor/status/1737186267148832795 Saylor emphasized the pivotal role of spot ETFs, stating, "This may be the biggest development on Wall Street in 30 years."......
Galaxy Digital CEO Expects Bitcoin ETF Greenlight in January
During his recent conversation with CNBC, Galaxy Digital CEO Mike Novogratz predicted U.S. regulators will finally approve a spot bitcoin exchange-traded fund (ETF) in January 2024. The prominent crypto bull said the Securities and Exchange Commission likely faces a January 10 deadline to rule on a batch of bitcoin ETF applications submitted by firms like......
Shiba Inu to Launch Custom SHIB Internet Domain
The developers behind the popular meme coin Shiba Inu announced plans this week to pursue a custom ".shib" internet domain aimed at advancing blockchain identity offerings. Partnership with domain provider D3. Would allow the sale of .shib website suffixes. Links to digital ID goals. Shiba Inu plans to apply for the distinct .shib domain during......
Bitcoin Will Go Forward in 2024, Says MicroStrategy’s Saylor
In a recent interview with CNBC, Michael Saylor, Executive Chairman and Co-Founder of MicroStrategy, shared insights on the regulatory landscape and the factors influencing the recent Bitcoin rally. Addressing concerns about the impact of Coinbase's petition in the federal appeals court on Bitcoin and MicroStrategy, Saylor expressed confidence in Bitcoin's resilience amid regulatory uncertainty. He......
Bitcoin ETF Approval Could Open Doors For $30 Trillion: Grayscale CEO
Michael Sonnenshein, Grayscale CEO, sheds light on the crypto industry's trajectory in a recent conversation with CNBC's Squawk Box. Sonnenchein delved into the intricacies of the crypto industry, offering insights into the company's advocacy efforts and the evolving landscape of digital assets. https://twitter.com/BitcoinMagazine/status/1736804416718778616 The conversation kicked off with the host probing Sonnenshein about Grayscale's involvement......
Revolut Pauses UK Crypto Services Ahead of Tighter FCA Rules
Digital banking app Revolut is hitting pause on cryptocurrency purchases for business customers in the U.K. starting January 3rd. The move comes as the UK gears up for stricter crypto regulations set to take effect in early 2024. In an email seen by City A.M., Revolut indicated that tighter Financial Conduct Authority (FCA) requirements around......
Bitwise Rolls Out Bitcoin ETF Ad as Approval Quest Continues
Bitwise Asset Management unveiled a new commercial this week urging viewers to “look for Bitwise.” The commercial comes amid the firm’s ongoing quest to launch a Bitcoin exchange-traded fund (ETF). The ad arrives as Bitwise and over a dozen other applicants vie for regulatory approval of what would be the first spot Bitcoin ETF in......
Circle Expands Euro Stablecoin to Solana
Stablecoin issuer Circle announced Monday that its euro-backed stablecoin, EURC, is now live on the Solana blockchain. The move marks the latest expansion for Circle as the firm seeks to drive mainstream global usage of stablecoin. Launched in June 2022, EURC aims to bridge the gap between government-issued money and blockchain networks. The euro stablecoin......
Arbitrum Is Now Up And Running After Partial Outage
Arbitrum One Sequencer experienced a temporary stall on December 15, causing disruptions and triggering concerns within the Ethereum layer-2 network's community. The outage, lasting approximately 78 minutes, led to chaos and confusion among users as the previously scheduled "ask me anything" Twitter Spaces session at 12 p.m. ET was abruptly canceled. https://twitter.com/arbitrum/status/1735771053731787263 The sequencer hiccup......
Coinbase to Challenge SEC’s Denial of Crypto Rules Petition
The U.S. Securities and Exchange Commission (SEC) has denied a petition from cryptocurrency exchange Coinbase requesting the agency provide more transparent rules and guidance around digital assets. The decision comes despite calls from within the commission for increased collaboration with crypto companies. In a statement on Friday, SEC chair Gary Gensler defended the agency’s oversight......
Former SafeMoon Staff Warns of Red Flags After Firm Files for Chapter 7 Bankruptcy
SafeMoon, a once-popular decentralized finance (DeFi) protocol, filed for Chapter 7 bankruptcy on December 14th. The bankruptcy news comes just a month after the company and its executives were charged with fraud by the Securities and Exchange Commission (SEC). The bankruptcy filing caps a dramatic downfall for a firm that just last year was touted......
Ledger CEO Addresses Community After $484,000 Crypto Exploit
In a recent security incident, Ledger, the popular hardware wallet manufacturer, faced an exploit on its Ledger Connect Kit. Ledger CEO Pascal Gauthier issued a statement recently, shedding light on the incident and the immediate actions taken to mitigate the exploit. The hacker stole over $484,000 worth of cryptocurrencies. The exploiter was also moving ETH......
JPMorgan Believes Ethereum Will Outshine Bitcoin in 2024; Here’s Why
JPMorgan released its 2024 cryptocurrency outlook this week, providing an analysis of expected price performance and adoption trends across various digital assets. While expressing caution broadly towards crypto markets, analysts highlighted Ethereum's coming transition as a potential bright spot. Key highlights: Ethereum price expected to outperform Bitcoin based on Ethereum merge upgrades. Regulatory approval of......
SushiSwap And Other dApps Exploited Through Ledger Connect Vulnerability
Several major dApps, including SushiSwap, have been affected by a malicious attack targeting Ledger’s API kit, according to industry sources. The exploiting of vulnerabilities in Ledger’s code has enabled attackers to inject harmful JavaScript into widely-used DeFi interfaces. The attack appears to originate from the compromised ledger API, allowing code injection. SushiSwap, Zapper, and RevokeCash......
Bitcoin Will Surge Above $80,000 in 2024, Bitwise Predicts
Digital asset investment firm Bitwise outlines 10 likely crypto developments in 2024, pointing to factors like Bitcoin halving, rising institutional involvement, and surging adoption of blockchain technology applications. Bitcoin Setting New Highs Bitwise predicts Bitcoin will reach over $80,000 in 2024, beating its previous all-time high. This would be fueled by a spot bitcoin ETF......
