Crypto Financial News

«The worst day of my career, and one of the worst days of my life — the day FTX froze withdrawals,» is how Travis Kling, who runs Ikigai Asset Management, described it in a series of tweets on Nov. 7. Four days later, Sam Bankman-Fried's exchange filed for bankruptcy, ushering in arguably the darkest days in crypto's history. «The first weeks were incredibly brutal. I didn't sleep much at all. Feelings of terror, guilt and shame. We laid off most of the team,» Kling wrote. A year on, the industry is irrevocably altered — while at the same time in many ways rem arkably familiar. Mostly gone are the giddy day traders and the abundant leverage that drove Bitcoin to its November 2021 high at close to $69,000. Same for celebrities and social-media influencers peddling nonfungible tokens and memecoins. Regulators determined not to get caught off guard again are tightening their grip. And large financial firms like BlackRock Inc. are moving in, drawn by the prospect of the US Securities and Exchange Commission giving its first blessing for an ETF investing directly in Bitcoin.

Digital asset exchange, Bitget has announced its planned exit from the Hong Kong market on December 13, 2023, citing certain business concerns.

The cryptocurrency market has recorded soaring prices in recent weeks sparking wins spanning across miners’ profits, decentralized finance (DeFi) numbers, and larger investor appetite.

Cryptocurrency exchange, Bithumb is keen on becoming the first industry-related company to get listed on the Korean Securities Dealers Automated Quotations (KOSDAQ).

Crypto lender Celsius Network received U.S. bankruptcy court approval for a restructuring plan that will return cryptocurrency to customers and create a new company owned by Celsius creditors. U.S. Bankruptcy Judge Martin Glenn in Manhattan signed off on the restructuring in an order published on Thursday. The reorganized business will be managed by Fahrenheit LLC, a consortium that includes hedge fund Arrington Capital, and it will focus on mining new bitcoin and earning «staking» fees by validating blockchain transactions. New Jersey-based Celsius filed for Chapter 11 protection in July 2022, one month after freezing customer accounts to prevent withdrawals. Celsius, which was once valued at $3 billion, was one of the largest crypto collapses last year. The crypto lender is working to implement the plan and is expected to emerge from Chapter 11 in early 2024,according to a post on X, formerly known as Twitter.

Digital asset exchange Binance has rolled out a web3 wallet to offer a simplified gateway to self-custody for its users.

The cryptocurrency market continues to pull strings of outsized inflows in recent weeks as investors set sights on a spot Bitcoin (BTC) Exchange Traded Fund (ETF).

In the paper, the BoE said that lenders will be pushed to make it clear to customers that stablecoins are not standard deposits, which are guaranteed against bank failures.

Charles Randell (pictured), was chair of the FCA and PRS between 2018 and 2022.

The guidance sets out how authorised firms communicating or approving crypto financial promotions should apply Consumer Duty principles to their marketing.

Bitcoin's price has risen strongly in recent weeks with the United States possibly set to allow a popular type of trading in the cryptocurrency that would further normalise the asset. A 30-percent jump since the end of August has been driven by speculation around the creation of a so-called exchange-traded fund for the asset, which would directly track the price of bitcoin. Spot bitcoin ETF would allow more of the general public to invest in the cryptocurrency without having to directly buy it. «Approval is now (a matter of) when, not if,» Charles Morris, founder of crypto analyst group ByteTree, told AFP.

With Bitcoin still trying to surmount the $35,000 level, analysts have flagged Aave (AAVE),  Solana (SOL), The Sandbox (SAND), Bitcoin Minetrix (BTCMTX), and Meme Kombat (MK) as some of the best crypto to buy now.

Abu Dhabi seeks to beef up its web3 landscape with new guidelines for blockchain-based firms as its crypto hub is projected to grow in the coming months.

Digital assets custody firm BitGo has obtained a cryptocurrency custody license from the German Federal Financial Supervisory Authority (BaFin).

The extreme fluctuations of the cryptocurrency market showcase the need for solutions like yPredict that utilize AI crypto to deliver actionable price prediction insights.

Global wealth fund managers have backed Ethereum (ETH) as the asset with the highest growth projection despite a slow price increase in recent months, a new survey shows.

Big financial institutions such as Fidelity Investments’ foray into the cryptocurrency market is a boon rather than a bane for the asset class and will aid in building the ecosystem further, according to Vikram Subburaj, CEO, Giottus Crypto Platform. “As more traditional financial institutions enter the crypto market, it validates the industry’s legitimacy and attracts a more extensive user base,” Subburaj said, adding, “Rather than perceiving this as a threat, we view it as a positive development that validates the potential of the crypto market. In an interview with ETMarkets, Subburaj also spoke about the confluence of opportunities and challenges in the crypto market, and Giottus’ business growth plans. Edited excerpts: What challenges and opportunities do you see in the cryptocurrency market, both globally and in the context of India’s regulatory developments, in the coming years? In the crypto market, both globally and in India, we anticipate a confluence of challenges and opportunities.

The Commodity Futures Trading Commission (CFTC) has announced the award of $16 million to whistleblowers this year with a significant amount going to crypto-related cases.

Financial authorities continue to tip stablecoins as a pathway to better cross-border payments but a new report shows that regulations, competition, and network scale pose threats to wider adoption.

Spain has unveiled plans to reduce the transition period before the application of the Markets in Crypto Assets (MiCA) regulation.

The Treasury also declined to regulate decentralised finance (DeFi) in this phase of regulation, saying it would be 'premature and ineffective'.