Gimme The Coin

2023-11-22 16:33:29 Coinbase CEO Sees Binance Settlement as Chance for Industry Renewal

Coinbase CEO, Brian Armstrong says the Binance settlement is a chance for the industry to prioritize compliance and rule clarity to prevent regulators from slamming huge fines on companies. Armstrong wrote on X (Twitter) shortly after Binance’s settlement with the Department of Justice (DOJ) was announced explaining the need for rule compliance and Coinbase roadmap since 2012.

In a recent interview with Bloomberg, the CEO stated Coinbase couldn’t move as quickly as others in terms of expansion and onboarding new products in the markets due to the complaint approach stressing that it was the right decision.

Armstrong also charged regulators to make the proper rules for the sector to flourish in the United States rather than the persistent court cases and sanctions levied on multiple projects. He added that Americans should but have to look elsewhere to get benefits from crypto through unregistered exchanges because the US democratic economy should always get it right.

In recent months, Coinbase has led the push for rule clarity in U.S. courts and in Congress following the renewed regulatory onslaught on the market. The Securities and Exchange Commission (SEC) filed charges against the company for acting as an unregistered broker of securities which it has denied with promises to defend itself vigorously. Open / Comment

2023-11-20 16:32:04 Digital Hong Kong Dollar Pilot Plan to Enter Second Phase Next Year

The Hong Kong Monetary Authority (HKMA) is set to initiate the second phase of its digital Hong Kong Dollar project next year, focusing on the exploration of innovative applications and reinforcing collaborations across the financial industry.

During the Fintech Foresight Seminar held by Hong Kong 01, HKMA Chief Fintech Officer Nelson Chow stated that Hong Kong’s central bank digital currency (CBDC) has completed its first phase and will proceed to the next phase in 2024.

Building on the groundwork laid in the e-HKD Pilot Program’s initial phase, the HKMA’s forthcoming step will delve into real-world applications of the digital Hong Kong Dollar, seeking to integrate it within the broader economic framework.

Like the United Kingdom or other developed countries and regions, Hong Kong is still in the phase of testing CBDC. Chow said, “Hong Kong is definitely not falling behind; it is among the leading group conducting research. The e-HKD Pilot Program is of research value to other central banks as well.” Open / Comment

2023-11-18 16:32:33 Fidelity Follows BlackRock, Files For Spot Ethereum ETF – Where Next for Ether (ETH)?

Asset management giant Fidelity just filed a 19b-4 with the Chicago Board Options Exchange (CBOE) to set up a spot Ethereum exchange-traded fund (ETF) called the Fidelity Ethereum Trust, just one day after BlackRock filed to set up the iShares Ethereum Trust, its own spot Ethereum ETF.

The latest move to offer a spot Ethereum ETF to investors comes as major asset managers double down on bets that cryptocurrencies have a bright future, and that their new proposed crypto investment vehicles will gain quick approval in the US.

Both asset managers plus a dozen others filed to set up spot Bitcoin ETFs back in June, with many analysts betting that these applications will gain approval as soon as January.

Fidelity manages over $4.5 trillion in investor funds, whilst BlackRock manages over $8 trillion, making it the largest asset manager in the world. Open / Comment

2023-11-16 16:33:24 SEC Postpones Decision on Hashdex Spot Bitcoin ETF and Grayscale Ether ETF

The U.S. Securities and Exchange Commission has postponed its decision on the approval of Hashdex Bitcoin ETF and Grayscale Ethereum Futures Trust ETF.

The SEC published a document that addresses to the deferral of Hashdex’s filing. Hashdex previously filed to convert its current Bitcoin Futures ETF (DEFI), listed on the New York Stock Exchange (NYSE) and sponsored by Teucrium Trading, to a spot Bitcoin ETF. If approved, Hashdex Bitcoin ETF will be the first U.S. exchange-traded fund that invests directly in Bitcoin.

According to Bloomberg Intelligence, the SEC had until Nov.17 to make a decision on Hashdex Bitcoin ETF. The SEC now announces the new decision deadline to be Jan. 1, 2024, and expects to provide more updates then.

The approval decision of Grayscale’s Ethereum Futures Trust (ETH) ETF has also been delayed to Jan.1, 2024. Open / Comment

2023-11-14 19:00:10 4 reasons to buy $CATCH SpaceCatch

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2023-11-14 16:32:08 South Korea’s Democratic Party Mandates Crypto Holdings Disclosure for Candidates in Upcoming Elections

The Democratic Party of South Korea has instituted a new policy requiring preliminary candidates for the upcoming general elections to disclose their holdings in virtual assets, including cryptocurrencies, according to The Korea Economic Daily (Hankyung).

This decision, announced by Han Byung-do, the chairman of the Democratic Party’s Strategic Planning Committee, follows discussions within the party’s general election planning team. The party aims to ensure that candidates uphold the highest moral standards and avoid potential conflicts of interest related to digital asset holdings.

Chairman Han emphasized the importance of this policy in a recent statement. “The consensus was that the verification of candidates should be strictly strengthened based on morality,” he said. Han also warned that candidates who fail to accurately report their holdings will face legal repercussions and potentially severe consequences, including the cancellation of their candidacy. Open / Comment

2023-11-12 16:32:54 FTX Bankruptcy Team Sues Crypto Exchange Bybit for $1 Billion – What’s Going On?

FTX’s bankruptcy advisers have filed a lawsuit against crypto exchange Bybit Fintech and its two affiliated companies. The lawsuit aims to recover approximately $953 million worth of cash and digital assets that were withdrawn from Sam Bankman-Fried‘s FTX exchange prior to its Chapter 11 filing a year ago.

The lawsuit, filed in a Delaware court on Friday, alleges that Bybit’s investment arm, Mirana Corp., enjoyed special “VIP” benefits that were not available to most FTX customers. It claimed that Mirana exploited these privileges to withdraw a significant portion of its assets from Bankman-Fried’s platform just before its collapse in November 2022.

According to the complaint, Mirana exerted pressure on FTX employees to fulfill its withdrawal requests while regular customers of FTX com were left waiting for hours to access their funds as the exchange faced imminent collapse. Open / Comment

2023-11-10 20:04:38 Crypto Exchange Kraken Helps UK Police Return $2 Million to Scam Victims

Crypto exchange Kraken has partnered with the UK’s South East Regional Organised Crime Unit (SEROCU) to return nearly £2 million ($2.4 million) worth of stolen crypto to victims of a scam. Following the arrest of 40-year-old Dutch national Wybo Wiersma, who illicitly transferred IOTA tokens using a fraudulent website designed to generate fake seed phrases, SEROCU seized £2.37 million in crypto.

It is the first time the Proceeds of Crime Act has been used to make such a crypto exchange seizure in the UK, a recent announcement from SEROCU said. SEROCU also shared the news of the upcoming repayment on X, along with a picture of the now-sentenced Wiersma

In court, Wiersma was ordered to pay £2.1 million, with Kraken’s assistance reportedly instrumental in converting the seized crypto into back into British pounds.

“The victims, of which there are many across the world, have patiently waited for five years for this to happen and it is thanks to my team’s innovation and collaboration, particularly with Kraken, without whom this may not have been possible,” Detective Inspector Rob Bryant of SEROCU’s Cyber Crime and Cryptocurrency Unit, said in a statement. Open / Comment

2023-11-10 16:30:01 Why MEXC is listing AI token $QDO

The bull run of 2024 will be fueled by AI tokens with real utility for business. Qoodo is a great example: a smart quality management system powered by AI and blockchain together.

So, why is a big exchange like MEXC interested in $QDO?
- Solid utility for real-world companies
- AI and blockchain that actually work together
- A doxxed team of experts
- Over 12 partnerships with big projects
- Strong tokenomics
- Audited by Hacken
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Official Qoodo group: https://t.me/qoodo_IO Open / Comment

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