Merit Peak, an offshore trading company controlled by Binance CEO Changpeng Zhao, received around $11 billion (nearly Rs. 90,890 crore) of client assets through a Seychelles-based firm set up to take customer deposits, a US Securities and Exchange Commission filing shows. The SEC filing, which on Tuesday asked a US…
Coinbase Global’s CEO Brian Armstrong said on Wednesday that the crypto exchange has a long history of being transparent with the US Securities and Exchange Commission. Armstrong was speaking in an interview with CNBC, a day after the company was sued by the US securities regulator on allegations it failed…
A US government default would trigger an initial pull-back from cryptocurrencies followed by a “push upward” the CEO of London-based crypto firm Blockchain.com said on Thursday. The US government could fall behind on its bills next month – and even default on its debt – if Congress does not raise…
Bankrupt crypto exchange FTX is seeking to claw back more than $240 million (nearly Rs. 2,000 crore) it paid for stock trading platform Embed, saying former FTX insiders did no investigation before buying the essentially worthless bug-ridden software platform. FTX filed three lawsuits late Wednesday in US Bankruptcy Court in…
Crypto lender Voyager Digital said Wednesday that customers will recover about 35 percent of their cryptocurrency deposits as the company winds down its operations after a failed buyout attempt by crypto exchange Binance.US. US Bankruptcy Judge Michael Wiles approved Voyager’s proposed liquidation plan at a court hearing in Manhattan on…
Bankrupt crypto lender BlockFi received court permission on Thursday to return $297 million (roughly Rs. 2,439 crore) to customers with non-interest-bearing accounts, without repaying customers who had tried to move funds into those accounts at the last minute. US Bankruptcy Judge Michael Kaplan in Trenton, New Jersey ruled that customers…
Bankrupt crypto exchange FTX received US bankruptcy court permission on Thursday to sell its LedgerX business for $50 million (nearly Rs. 408 crore), raising additional funds to repay creditors. At a hearing in Wilmington, Delaware, US Bankruptcy Judge John Dorsey signed off on FTX’s sale of LedgerX, its non-bankrupt crypto…
The European Parliament on Thursday overwhelmingly backed the European Union‘s first set of rules to regulate cryptoasset markets. Parliament voted by 517 in favour and 38 against to approve the world’s first comprehensive set of regulations for issuing and trading cryptoassets such as bitcoin. “This regulation brings a competitive advantage…
Union Finance Minister Nirmala Sitharaman on Thursday said that there was a greater acceptance among Group of 20 (G20) member countries that any new regulations on the crypto assets need to be globally coordinated. “I am glad to say that there is a greater acceptance among all G20 members, that…
Investors are finally set to gain access to more than $33 billion (roughly Rs. 2,70,900 crore) of ether this week under a planned revamp of the blockchain. A new software upgrade to the Ethereum blockchain, dubbed Shapella, will let market players redeem their “staked ether” – coins they have deposited…
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