Australia Financial News

The upcoming Muse NFT album will be the latest chart-eligible album format since 2015. Prior to this album concept, the last format to be accepted by international charts was album streams. Nonfungible token (NFT) albums are now eligible for both United Kingdom and Australian charts. 

Crypto exchange Huobi can begin offering cryptocurrency exchange services in Australia after its registration as a digital currency exchange provider with the Australian Transaction Reports and Analysis Centre (AUSTRAC) on Aug. 1. This means Huobi can now offer fiat to cryptocurrency trading services in the country.

At the time, Zipmex had claimed it was working to address exposure of $53 million to crypto lenders Babel Finance and Celsius amid the threat of legal actions from creditors, as reported by Coindesk. Zipmex is the latest victim in a growing line of crypto firms experiencing issues after the sharp selloff in May 2022 that resulted in the collapse of Luna and TerraUSD.

The crypto platform operates in Singapore, Thailand, Indonesia and Australia.

In a document dated Wednesday, July 27, Thai cryptocurrency exchange Zipmex said that its solicitors in Singapore, Morgan Lewis Stamford LLC, filed five moratorium applications, or legal authorization to debtors to postpone payment, under Section 64 of Singapore’s Insolvency, Restructuring and Dissolution Act 2018 on behalf of the company. Zipmex seeks to protect itself against third party actions, claims, and proceedings for a period of six months while the filing is active. The announcement came just one week after its CEO and co-founder Marcus Lim publicly denied the firm was facing financial troubles. Rumors have been circulating in the past month that the cryptocurrency exchange was insolvent after a proposed acquisition by Coinbase fell through. 

Crypto markets have been pumping since the announcement of a 75 basis point interest rate hike in the United States, with experts explaining that the markets may have been initially bracing for much worse.

An investigation reportedly launched by the Securities and Exchange Commission (SEC) into Coinbase’s alleged trading of unregistered securities could have a “serious and chilling effect” on crypto exchanges and token projects, according to a legal expert. 

BNB, the native token of the  Binanceexchange, is forecast to end the year priced at USD 274, potentially hitting USD 781 by 2025, and USD 1,814 by the end of 2030, according to a recent survey by personal finance comparison site Finder.com.

Stephen Hickson, Economics Lecturer and Director Business Taught Masters Programme, the University of Canterbury.____

Block Earner, an Australian fintech company, says the fall of Terra Luna in May has led to “positive surprises” for his company, with investors beginning to find their way toward the lower-risk crypto yield products they offer. 

The Asia Pacific region is seeing a major business shift with increasing numbers of new technology startups appearing, even as venture capital investment is decreasing compared to last year. A report from Big Four accountant KPMG and international banking company HSBC based on a survey of 6,472 Asian Pacific startups found that over a quarter of them are blockchain related. 

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Thailand probing potential losses for users of crypto platform Zipmex

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Mark Evans was appointed global head of cross border and cross currency payments HSBC. He has been at the bank for over 25 years, most recently as managing director of payments advisory. Based in London, Evans will report into Manish Kohli, global head of liquidity and cash management

Southeast Asia crypto exchange Zipmex to resume withdrawals

Mark Evans was appointed global head of cross border and cross currency payments HSBC. He has been at the bank for over 25 years, most recently as managing director of payments advisory. Based in London, Evans will report into Manish Kohli, global head of liquidity and cash management

Zipmex said it would write off its $5 million exposure to Celsius.

Challenger bank Starling said it will need to sell its software to other banks to fulfil its global ambitions rather than expand via its core consumer digital banking offering, and has set its sights on Europe, the US and – potentially – Australia.

Cybersecurity specialists have welcomed a new trial by the Australian Competition and Consumer Commission (ACCC) to automatically take down scam websites. The trial saw dozens of scam sites, including crypto scams, knocked offline after more than 300 were reported.

Southeast Asia-focused cryptocurrency exchange Zipmex has suspended withdrawals, the company said in a tweet on Wednesday night, with an executive of its Thai affiliate citing liquidity difficulties at crypto lenders Babel Finance and Celsius.