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…
Do Kwon, the cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion (nearly Rs. 3,28,500 crore) or more last year, has been charged with fraud by US prosecutors. An eight-count indictment against Kwon was made public in the US District Court in Manhattan, several hours after news of his…
Coinbase has acquired One River Digital Asset Management (ORDAM), the cryptocurrency exchange said on Friday as it aims to beef up services and take advantage of weak valuations of digital asset companies. The company did not disclose the financial details of the deal, in which ORDAM will become Coinbase Asset Management…
Three US Senators have asked giant cryptocurrency exchange Binance and its US partner Binance.US for information about their regulatory compliance and finances, citing a series of investigations by Reuters and some other media reports, according to a letter released on Wednesday. In the letter, Democrats Elizabeth Warren and Chris Van Hollen along…
Indian Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen discussed strengthening multilateral development banks, global debt vulnerabilities and crypto assets on the sidelines of the G20 finance chiefs meeting on Thursday, the finance ministry said. Yellen is expected to brief reporters later in the day and take part in…
Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union’s pending banking law if Europe wants to avoid missing a globally-agreed deadline, the bloc’s executive has said. The global Basel Committee of banking regulators from the world’s main financial centres has set a January 2025 deadline…
The US partner of global cryptocurrency exchange Binance has confirmed that a trading firm managed by Binance CEO Changpeng Zhao operated as a market maker on its platform. Reuters reported on Thursday that Binance had secret access to a bank account belonging to its purportedly independent US partner and transferred large sums…
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