Category : Finance Magnates

Finance Magnates

The Rise and Decline of ICOs: A Comprehensive Analysis

Initial Coin Offerings (ICOs) exploded into the cryptocurrency landscape with considerable hype and promise. By selling tokens to investors, they provided a new mechanism for blockchain-based companies to raise cash. However, following a period of ex...

Can Blockchain Technology Revolutionize the Gaming and Virtual Reality Industries?

Because of its potential to disrupt different industries, blockchain technology has received a lot of interest in recent years. Gaming and virtual reality (VR) are two industries that promise to benefit substantially from blockchain. Blockchain's dec...

Bankrupt Bittrex to Begin Customer Payouts Despite US Objections

The American branch of the Bittrex crypto exchange, which declared bankruptcy over a month ago, is prepared to pay out funds to its customers. The process is set to begin tomorrow (Thursday), driven by a decision from the Delaware bankruptcy court. B...

NFTs and CFDs: Understanding the Potential Synergy

Non-Fungible Tokens (NFTs) and Contract for Difference (CFDs) are two financial products that have attracted a lot of attention recently in the digital arena. While CFDs enable traders to speculate on price changes without owning the underlying asset...

FTX’s Sam Bankman-Fried Battles US Post-Extradition Charges in Bahamas

Sam Bankman-Fried, the disgraced founder of bankrupt cryptocurrency exchange FTX, has made a move to have the charges that were slapped on him by the US prosecutors dismissed after his extradition from the Bahamas, Reuters reported on Tuesday. The fo...

Cryptocurrencies and CFDs: Analyzing the Intersection of Two Growing Trends

Cryptocurrencies and Contract for Difference (CFD) trading are two fast-growing financial trends. Cryptocurrencies like Bitcoin and Ethereum have received a lot of attention and popularity, whereas CFDs provide a versatile and easy option to trade a...

Crypto Mining: Environmental Concerns and the Push for Sustainable Solutions

In recent years, cryptocurrencies have significantly increased in popularity and attention, with Bitcoin serving as the most notable example. But, a rising worry about cryptocurrencies' environmental impact is what's driving their popularity. The pro...

The Importance of Staying Vigilant Against Crypto Scams

Cryptocurrency frauds and security breaches are becoming more likely as cryptocurrencies continue to acquire acceptance and public attention. Cryptocurrencies' decentralized and anonymous nature offers both advantages and disadvantages. While they ha...

The Surge of DeFi Platforms and Their Impact on the Crypto Market

The advent of decentralized finance (DeFi) platforms in recent years has revolutionized the way financial transactions and services are handled in the cryptocurrency world. Blockchain technology is used by DeFi platforms to give decentralized alterna...

eToro Blocks US Customers’ Purchase of ALGO, MANA, DASH, and MATIC

The stocks and crypto assets trading platform, eToro has halted the purchase of four cryptocurrencies, which were recently labeled as unregistered securities by the Securities and Exchange Commission (SEC), for users in the US, according to an announ...

GCEX and Hex Trust Bolster Partnership to Broaden Staking Services

GCEX, a digital prime brokerage, has expanded its partnership with Hex Trust, an institutional custodian for cryptocurrencies. The announcement follows the companies' initial venture into staking services in April 2023.Now, their relationship includ...

Sygnum Inches Closure to Get Singapore's Payment Institution License

The Singapore subsidiary of Sygnum, a digital asset bank, has become the latest to obtain in-principal approval for a Major Payment Institution Licence (MPIL) from the Monetary Authority of Singapore (MAS). Sygnum Gains In-Principal Singapore License...

Nigeria Orders Binance to Halt Operations while Hong Kong Welcomes Coinbase

Nigeria's financial regulator has ordered Binance to halt its services in the country saying the exchange was neither registered nor regulated. In a circular issued on June 9, the Securities and Exchange Commission (SEC) in Nigeria termed the exchang...

FTX Customers' Names Can Permanently Remain Undisclosed: US Court

A US court permitted now-bankrupt crypto exchange FTX to permanently remove individual customer names from all bankruptcy filings to avoid scams and identity theft risks. Protecting FTX Customers from Scams "It is the customers who are the most impor...

2 Russian Citizens Behind 2011 Hack of Mt. Gox, US Alleges

US prosecutors have fingered two Russian nationals as the masterminds behind the 2011 hack of Mt. Gox, the largest Bitcoin (BTC) exchange in the world at the time. The Department of Justice (DOJ) in an indictment unsealed on Friday charged Alexey Bil...

Robinhood Delists Tokens Native to Cardano, Solana, and Polygon

Robinhood is delisting three commonly traded cryptocurrencies, Cardano (ADA), Solana (SOL), and Polygon (MATIC), which were recently identified as securities by the Securities and Exchange Commission (SEC) in lawsuits against top cryptocurrency exch...

When A US Regulator Slams Crypto: A Week in Review

Earlier this week, the US Securities and Exchange Commission (SEC) brought simultaneous lawsuits against two leading cryptocurrency exchanges, Binance and Coinbase. Utilising their influence, both exchanges decided to fight the legal battle. Lawsuits...

Cross-Border Remittances: How Crypto Revolutionize Cheaper and Faster Transactions

The movement of funds between nations, or cross-border remittances, is essential to the world economy. Traditional remittance options can include high costs and protracted transaction delays. However, the emergence of cryptocurrency has brought about...

Binance.US Stops USD Services, Asks Users to Withdraw Fiats

Binance.US announced today (on Tuesday) the suspension of USD deposits and indirectly urged users to withdraw their fiat deposits from the platform. The banking partners of the exchange will pause fiat withdrawal services by June 13. Binance.US Faces...

US Senators Say Binance May Have Lied to Congress: Report

Two US lawmakers have asked the Department of Justice to look into whether Binance made false representations to lawmakers earlier in March about its business dealings and ties to its local unit, Bloomberg reported on Thursday. Senators Elizabeth War...

US Opposes Crypto Exchange Bittrex’s Customer Repayment Plan

The United States has objected to a proposal by the cryptocurrency exchange Bittrex to return customer cash and cryptocurrency as part of a process to wind down its operations in the country. Bittrex’s US arm filed for bankruptcy protection in May we...

European Consumer Group Slams Twitter, Instagram for ‘Misleading' Crypto Ads

The European Consumer Organization (BEUC) has filed a complaint with the European Commission and consumer authorities against Instagram, YouTube, TikTok, and Twitter, for facilitating 'misleading' promotion of cryptocurrencies.In a report dubbed 'Hyp...

Australia's Top Bank Halts Payments to Selected Crypto Exchanges

In a proactive move to enhance customer safety, the Commonwealth Bank (CBA) today (Thursday) announced it has implemented new measures aimed at protecting customers from fraudulent activities tied to cryptocurrency exchanges.In practice, this means t...

Coinbase CEO Calls SEC Chair An ‘Outlier’

Brian Armstrong, the CEO of Coinbase, hit back at the Securities and Exchange Commission (SEC) yesterday (Wednesday) following the agency’s lawsuit against the exchange, calling its Chair, Gary Gensler an “outlier.” Coinbase's CEO Attacks SEC's Chair...

Binance.US Halts OTC Trading, Delists 10 Crypto Pairs

Binance.US, the US affiliate of the largest global crypto exchange by trading volume, indefinitely suspended its over-the-counter (OTC) trading platform following the crackdown against it by the US securities regulator. Binance Suspends OTC Trading “...

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