COIN BUREAU NEWSFLASH! – (13/05/23) Here are some of today’s m | Coin Bureau Insider
COIN BUREAU NEWSFLASH! – (13/05/23)
Here are some of today’s most important headlines:
Bakkt Delists Majority of Tokens from Recently Acquired Apex Crypto Platform
Digital asset firm Bakkt has reportedly delisted 25 of the 36 crypto tokens listed on its recently acquired trading platform Apex Crypto. The de-listed tokens are AAVE, AVAX, BNT, BAT, LINK, CHZ, COMP, ATOM, CRV, ENJ, FTM, FIL, GALA, GRT, ICP, LRC, MKR, REN, XLM, SUSHI, SNX, XTZ and UNI.
Explaining the move, Bakkt stated,
“Following the closing of our acquisition of Apex Crypto and as part of our regular coin listing review process, we have made the decision to delist a number of coins on the platform. Our clients’ and their consumers’ best interests are our core commitment, and our review process ensures those interests are best served when we contemplate the most up-to-date regulatory guidance and the latest industry developments.”
https://cointelegraph.com/news/bakkt-delists-majority-of-tokens-from-recently-acquired-apex-crypto-platform
Quadriga CX Bankruptcy Claimants to Get 13% on the Dollar
According to a notice to creditors published by accounting giant EY, creditors of the bankrupt Canadian crypto exchange QuadrigaCX will receive 13% of their total claims as part of an “interim dividend.” EY stated that creditors with BTC claims will get CAD $6,739.08 per BTC and those with ETH claims will get CAD $223.45 ($299.45) per ether. The value of the crypto held by the creditors on the exchange will be pegged at April 15, 2019 market prices.
https://www.coindesk.com/business/2023/05/12/quadriga-cx-bankruptcy-claimants-to-get-13-on-the-dollar
Binance Calls It Quits in Canada, Blames New Rules
Yesterday, crypto exchange Binance announced that it will be “proactively” withdrawing from the Canadian market due to the new guidance issued by Canadian regulators. It stated that the new guidance related to stablecoins and investor limits provided to crypto exchanges makes the Canada market “no longer tenable.” Specifically, the new guidance defines stablecoins as a security prohibits firms "from permitting Canadian clients to enter into crypto contracts to buy and sell any crypto asset that is itself a security and/or a derivative.”
https://cointelegraph.com/news/binance-calls-it-quits-in-canada-blames-new-rules
Fractional NFT Project Tessera to Shut Down Amid Challenging Crypto Market
Paradigm-backed fractional NFT project Tessera is reportedly winding down its operations over the next few weeks. Tessera co-founder Andy Chorlian explained the decision by stating that its financial situation and economic model would make it hard to become profitable.
Chorlian tweeted,
“We spent a long time carefully analysing possible market scenarios, our company structure, and our financial situation, and decided that this was the best choice for our team and investors. As we really dug into the economic model for Escher, we saw that the targets we needed to hit to attain profitability – compared to the time and resource costs to scale there –just didn’t add up or make good business sense."
https://www.theblock.co/post/230623/fractional-nft-project-tessera
Florida Governor Ron DeSantis Bans CBDCs in the State
According to reports, Florida Governor Ron DeSantis signed a bill restricting the use of central bank digital currencies (CBDCs) in the state on Friday. The new law prohibits the use of CBDCs issued by the U.S. and other foreign governments “as money within Florida’s Uniform Commercial Code (UCC).” Governor DeSantis has called on other states to use their commercial codes to institute similar prohibitions.
Governor DeSantis stated,
"Anyone with their eyes open could see the danger this type of an arrangement would mean for Americans who want to exercise their financial independence and would like to be able to conduct business without having the government know every single transaction they're making in real time."
https://decrypt.co/139919/florida-governor-ron-desantis-bans-cbdcs
