Business Financial News

02.11 / 16:23

business FTX Trial ‘He lied to get customers’ trust’: Prosecution makes closing argument against SBF

The government presented its rebuttal against Sam Bankman-Fried on Nov. 2 in response to statements made by his defense during the closing arguments a day earlier.

02.11 / 10:19

business CBDC regulation Banks Central Bank Swiss wholesale CBDC pilot kicks off in alliance with central, commercial banks

The Swiss National Bank (SNB), six commercial banks and the SIX Swiss Exchange will work together to pilot the issuance of wholesale central bank digital currencies (CBDCs) in the nation, officially known as the Swiss franc wCBDC.

02.11 / 09:41

business Stablecoin Tether Bitcoin Dollar Bitcoin Miner Tether issues $610M debt financing to Bitcoin miner Northern Data

Tether (USDT) stablecoin issuer is raising the bet on Bitcoin (BTC) mining by issuing a major debt facility to German-based BTC mining company Northern Data AG.

02.11 / 08:15

business Blockchain Gaming Sky Mavis Axie Infinity developer brings Japanese Web2 games to Ronin

On November 2, Sky Mavis, the developer behind the popular monster-battle nonfungible tokens (NFT) game Axie Infinity, announced a partnership with Korean gaming studio Act Games, to bring a variety of Japanese video game franchises to its native Ronin blockchain.

02.11 / 06:05

business Adoption ETF Investments Bitcoin spot ETF Spot ETF-induced Bitcoin rally isn’t guaranteed to stick: Analysts

While the approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) will likely spike the price of Bitcoin, some analysts are concerned it won’t be enough to fully thaw the markets from its winter chill.

02.11 / 00:33

business Adoption Investments MicroStrategy stocks Bitcoin Bitcoin Price MicroStrategy’s Bitcoin bag is up $900M amid BTC price surge

Business intelligence firm MicroStrategy has notched a paper gain of $900 million on its stack of 158,400 Bitcoin, spurred by optimism over the potential approval of spot Bitcoin exchange-traded funds.

01.11 / 20:54

business FTX stake Sam Bankman-Fried “doubled down” by buying Binance’s stake in FTX — U.S. prosecutors

Federal prosecutors claimed Sam "SBF" Bankman-Fried “doubled down” on the use of customers’ funds when he purchased Binance’s $2 billion stake in FTX in 2021. According to U.S. government attorneys, Bankman-Fried paid for the buyout with funds from FTX customers.

01.11 / 17:51

business Blockchain Visa completes digital Hong Kong dollar pilot test with local banks

Payment processor Visa has completed the Hong Kong Monetary Authority's central bank digital currency (CBDC) Pilot Programme with HSBC and Hang Seng Bank.

01.11 / 17:51

business Blockchain Ethereum Adoption privacy Worldcoin Worldcoin claims 4 million app downloads and 1 million active users

Iris-scanning project Worldcoin has reached a new milestone, as its mobile World App has now been downloaded over 4 million times, according to a November 1 blog post from the project’s team. If this number is eventually confirmed by Coingecko, it could place World App in sixth place in Coingecko’s list of most downloaded software wallets.

01.11 / 15:29

business FTX "That's fraud," prosecutors say in closing arguments at SBF trial

Sam "SBF" Bankman-Fried’s trial has entered the final stages, with the prosecution delivering its closing arguments in the case on Nov. 1.

01.11 / 15:07

business Stablecoin Podcast Entrepreneur Bitcoin Meet the 13-year-old student selling sneakers for Bitcoin: The Agenda podcast

Footwear has long been a critical element of culture and fashion worldwide. For some, shoes exist only to protect one’s feet from the elements; but for others, they are the most critical part of a wardrobe. Sneakers, in particular, have developed a cult following, with some ultra-rare pairs selling for tens of thousands of dollars.

01.11 / 15:07

business Blockchain Hackers hacks decentralized marketplace Tornado Cash Onyx Protocol exploiter begins siphoning $2.1M loot on Tornado Cash

Decentralized peer-to-peer lending platform Onyx Protocol lost roughly $2.1 million in an exploit of a market with no liquidity that was deployed on Oct. 27.

01.11 / 10:21

business Blockchain Binance coinbase FTX Bitcoin FTX and Alameda Research wallets send $13.1M in crypto to exchanges overnight

The crypto wallets linked to the now-defunct crypto exchange FTX and its sister trading firm, Alameda Research, have sent over $13 million in different altcoins to numerous crypto exchanges as of Nov. 1.

01.11 / 07:11

business Law Google copyrights Media OpenAI AI chatbots are illegally ripping off copyrighted news, says media group

Artificial intelligence developers heavily rely on illegally scraping copyrighted material from news publications and journalists to train their models, a news industry group has claimed.

01.11 / 02:25

business Law regulation SEC crimes Court Taxes tax evasion Oyster Protocol founder gets 4 years jail for $5.5M tax evasion

Amir Bruno Elmaani, the 31-year-old founder of the now-defunct cryptocurrency scheme Oyster Protocol has been handed the maximum sentence of four years in prison for tax evasion.

31.10 / 22:03

business Ethereum defi Tokens exchanges Bitget, Floki teams accuse each other of manipulation after token listing

The teams behind the Floki protocol and Bitget crypto exchange have accused each other of market manipulation after the protocol’s token, TokenFi (TOKEN), was listed and delisted by Bitget. This is according to an October 31 social media post from the Floki team and a blog post from Bitget.

31.10 / 19:11

business Ethereum Adoption defi Circle Usd Coin Circle to phase out consumer accounts, but business and Mint will remain

Stablecoin issuer Circle will close out consumer or individual accounts on November 30, according to emails received by Circle customers on October 31. In an email to Cointelegraph, the stablecoin issuer confirmed that it is closing the accounts but confirmed that business and institutional “Mint” accounts will remain available.

31.10 / 18:03

business Blockchain FTX Trial SBF criminal trial moves to closing arguments

The ongoing criminal trial involving FTX founder Sam Bankman-Fried (SBF) will move into closing arguments on November 1.

31.10 / 18:03

business Ethereum Stablecoin defi Tether Tether attestation shows cash and cash equivalents of 86% as loans decline

The reserves for stablecoin issuer Tether contained approximately 86% cash and cash equivalents as of September 30, according to a new attestation report from accounting firm BDO. This is the highest percentage of cash and cash equivalents that have ever made up Tether’s reserves.

31.10 / 15:17

business Blockchain FTX Customers SBF says spending FTX customers' money was part of 'risk management': Report

Sam Bankman-Fried (SBF), the founder of cryptocurrency exchange FTX, claims that spending clients' fiat deposits was just part of "risk management" for his intertwined crypto hedge fund Alameda Research.

31.10 / 13:54

business Microsoft transport OpenAI Siemens and Microsoft partner to push AI adoption in industrial sectors

The German technology company Siemens has partnered with Microsoft and announced its new generative artificial intelligence (AI) -powered assistant the Siemens Industrial Copilot.

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