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2022-11-03 05:53:03 Gensler flexes crypto enforcement record in speech

Securities and Exchange Commission Chair Gary Gensler touted his agency’s enforcement actions against cryptocurrency firms during a speech in New York City, doubling down on legal moves that have roiled the industry. In prepared remarks, Gensler told an audience of lawyers that a famous Aristotelian principle guided the SEC's enforcement actions.

The SEC is made up of “public servants, cops on the beat, uniting public zeal with unusual capacity,” Gensler said at a securities regulation event hosted by the Practising Law Institute. Gensler also highlighted cases against Allianz Global Investors, Archegos Capital Management and Infinity Q Capital Management. The SEC accused the companies, and some executives, of operating fraudulent schemes. When it comes to clearer rules for digital assets, Gensler said his agency.

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2022-11-02 12:49:02 Crypto Funding of Terrorism Has Quadrupled in Recent Years, Claims UN

Growing evidence suggests that terrorism is being increasing funded using crypto.The senior legal officer at the U.N.’s Counter-Terrorism Committee Executive Directorate estimates that 20% of terrorist attacks have been crypto-financed. She reported these numbers seemed to have increased as scrutiny of the illicit use of cryptocurrencies has intensified.

Criminal activities associated with cryptocurrencies rose to a record high last year, according to the most recent report from Chainalysis. The figure has nearly doubled, from $7.8 billion in 2021, with illicitly-associated addresses receiving $14 billion in 2021. However, Martynova pointed out that cash payments still facilitate the vast majority of terrorism around the world. She also highlighted the use of an informal value transfer system known as hawala. The practice, which involves the use of brokers, adheres to Islamic principles.

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2022-11-01 09:52:03 FTX US encourages staff to relocate to new Miami headquarters

FTX US, the crypto exchange operator, is pushing staff to move to Miami a month after naming the city as its U.S. headquarters. Staff has been encouraged to make the move by mid-November, according to people familiar with the matter. The exchange operator now wants staff to gather in the city that is also home to FTX Arena.

While FTX’s other offices in the United States are not fully closing down, they are being downsized as the startup looks to concentrate its workforce in Miami, the sources said. The move is about getting staff in the same place and ensuring they can communicate well, one person added. Currently, most of the available roles on FTX’s careers page are based in Miami. FTX was contacted for comment but did not respond by 2:00 am ET.

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2022-10-31 10:57:02 A Committee of Celsius Creditors Objects to Celsius Selling Its Stablecoin Cache

A committee of unsecured creditors stemming from the Celsius bankruptcy case has filed a motion with the court to stop the now-defunct crypto lender from selling the company’s stablecoin holdings. The written protest by the group of creditors against the sale follows objections from a slew of securities regulators filed on Sept. 29.

On Sept. 15, the embattled cryptocurrency lending firm Celsius filed a motion with the bankruptcy court to get permission to sell $23 million in stablecoins. The court filing attempting to gain access to the stablecoin stash followed a leaked all-hands meeting recording that indicated Celsius wanted to attempt a revival plan. Then, two weeks after the Sept. 15 court request for the stablecoins, state securities officials from Vermont and Texas filed motions that object to Celsius acquiring the stablecoin stash.

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2022-10-30 12:55:02 Terra co-founder Do Kwon slapped with a $57 million lawsuit by 350 investors

According to the Wall Street Journal's report from Friday, Do Kwon is currently facing another lawsuit which was filed back on September 23. Filed on behalf of over 350 investors, the lawsuit alleges "fraudulent misrepresentation" at the hand of Do Kwon. These allegations are in concern with the stability of TerraUSD, Terra's algorithmic stablecoin.

While this lawsuit only took place last month, many others, such as class action suits from other legal firms such as Grant & Eisenhower and more, are yet to reach their conclusion. Furthermore, Do Kwon has been on the government's crosshair for months now. The South Korean prosecutors are already searching for him, and just last month, Interpol issued a worldwide search warrant - a "red notice - in his name.

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2022-10-29 10:52:02 TerraClassicUSD climbs 15% in 24 hours reclaiming $400 million market cap

After a brief collective bullish run, the majority of the cryptocurrency market is back in the red, but the collapsed ‘stablecoin’ TerraClassicUSD (USTC) continues to advance, positioning itself as the top gainer over the past 24 hours.TerraClassicUSD is currently trading at $0.04349, recording an increase of 15.07% on the day, as well as 19.75% across the previous week.

Over the previous 24 hours, the decentralized finance (DeFi) token has reclaimed $400 million market capitalization, receiving an inflow of $45.91 million. In other words, USTC’s market cap grew from $370.76 million to $416.67 million or 12.38% in one day. USTC’s technical analysis (TA) indicators are looking optimistic, as the summary is suggesting a ‘buy’ sentiment at 13. Breaking down the technicals further, the oscillators are also in a ‘buy’ sentiment with 3, and the same is shown in terms of moving averages (MA) with ‘buy’ at 10.

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2022-10-28 06:29:02 Google Cloud announces blockchain node service starting with Ethereum

Google Cloud is opening up a blockchain node engine that will, the company says, streamline the process of setting up a brand new node, as well as the complications of hosting it on your own hardware. Google's first supported blockchain is Ethereum, per the post. "Blockchain Node Engine is a fully managed service, which can mean you don’t have to worry about availability."

Such a service appeared to be in the offing when Google began assembling a web3-focused team earlier this year. At the time, it was reported that Google was eyeing the development of hosted services for blockchain developers. Earlier this month, Google began to natively support data for Ethereum wallet balances. Blockchain nodes are getting more space in the cloud.

Source

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2022-10-27 09:48:02 Binance overshadows Huobi in crypto derivatives trading

Crypto derivatives trading was responsible for 63.4% of the entire crypto market in September as its trading increased by 1.54% month over month to reach $2.71 trillion, according to CryptoComapre data. Changpeng Zho-led Binance accounted for 60.1% of this derivatives trading volume among exchanges in September.

According to the CryptoCompare report, Huobi was the biggest trading platform for derivatives trading, but its numbers have declined by 77% on the year-to-date metric. Its market share has plunged from 34.6% in January 2020 to 0.36% by September 2022. According to the report, the highest daily trading volume was on 13th September, when derivatives exchanges traded $136 billion. Meanwhile, spot trading activities increased by 3% in the same month to $1.56 trillion.

Source

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2022-10-26 10:48:02 Israel’s Stock Exchange to Launch Blockchain-Based Crypto Exchange

The Tel Aviv Stock Exchange (TASE) – Israel’s sole equity and debt marketplace – now plans to establish a blockchain and digital asset-based trading platform.The exchange will focus on the development of distributed ledger and smart contract technologies while creating various types of tokenized digital assets.

Tel Aviv’s blockchain-related plans were detailed within its 2023 to 2027 strategy document published on Monday. Among the four strategic goals listed, one was to “establish a platform for digital assets based on blockchain (DLT),” and to “enter the crypto world”. This isn’t a new concept. More jurisdictions worldwide are looking into improving existing markets infrastructure with blockchain technology. The European Union, for instance, has already approved a pilot for blockchain-based securities trading, much like Tel-Aviv announced on Monday.

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