Business Financial News

23.12 / 00:33

business Investments SEC Deal Crypto exchange Bullish announces termination of SPAC deal, citing SEC practices

Bullish, a crypto firm that came to public attention in July 2021 for seemingly being unclear on what products or services it was offering, has announced the termination of a deal aimed at taking the company public.

23.12 / 00:33

business FTX Bankruptcy committee FTX creditor committee hires Paul Hastings LLP for bankruptcy proceedings: Report

After taking pitches from many law firms, the nine-member committee representing unsecured creditors of the disgraced crypto exchange FTX has decided on a legal adviser, the Wall Street Journal reported on Dec. 21.

22.12 / 21:27

business FTX Financial Times Jail SBF received special treatment inside Bahamian jail: Report

Former FTX CEO Sam Bankman-Fried, who was remanded to the notorious Fox Hill Prison in Nassau, Bahamas, pending an investigation into the collapse of his exchange, had a different experience than many other prisoners.

22.12 / 19:33

business Blockchain hacks North Korean hacking activity ceases after regulators implement KYC - Report

According to a new press report published by South Korea's National Intelligence Service (NIS), North Korean hackers have stolen more than 800 billion Korean won ($620 million) worth of cryptocurrencies from decentralized finance, or DeFi, platforms this year. The agency also revealed it blocked a daily average of 1.18 million attacks perpetrated by national and international hacking organizations in November.

22.12 / 15:49

business Ripple Court Ripple CEO compares Wells Fargo billions mismanagement with FTX collapse

Amid the heated-up news steam about the FTX drama, Ripple CEO Brad Garlinghouse has tried to turn the public’s attention to another case regarding the misdeeds of traditional finance. A $3.7 billion fine for mismanagement at Wells Fargo bank was treated as, in Garlinghouse’s words, “barely a blip on the radar.”

22.12 / 15:49

business FTX community FTX, Alameda execs plead guilty to fraud charges: Community responds

In the newest update to the FTX saga, former Alameda Research CEO Caroline Ellison and former FTX co-founder Gary Wang plead guilty to fraud charges and are currently helping with the investigation of former FTX CEO Sam Bankman-Fried. As the news broke, crypto community members shared their thoughts on the new development.

22.12 / 13:07

business regulation FTX Court Jail Deal Alameda's Caroline Ellison escapes potentially 110 years in jail via plea deal

One of the key witnesses on the ongoing FTX investigation could evade all the seven counts of allegations against her with a plea deal. Former Alameda Research CEO Caroline Ellison would be prosecuted only for criminal tax violations and can be released immediately by paying the $250,000 bail.

22.12 / 10:45

business CFTC SEC Alameda's Caroline Ellison and FTX's Gary Wang hit with additional fraud charges

The United States Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) have hit former Alameda Research CEO Caroline Ellison and former FTX co-founder Gary Wang with fresh fraud charges.

22.12 / 07:17

business Ethereum Adoption Bitcoin services California regulators order MyConstant to cease crypto-lending services

The California Department of Financial Protection and Innovation (DFPI) has ordered crypto lending platform MyConstant to cease offering a number of its crypto-related products over alleged state securities law violations.

22.12 / 00:53

business Investments recovery Genesis and DCG seek path for the recovery of assets amid liquidity issues

The co-founder of Gemini, Cameron Winklevoss, shared in an update on Twitter that global investment bank Houlihan Lokey had devised a plan on behalf of the creditor committee to resolve the liquidity issues at Genesis and its parent company Digital Currency Group (DCG). According to Winklevoss, resolving the liquidity issues would provide a path for Gemini clients to recover assets owed to them by Genesis and DCG following the FTX collapse.

22.12 / 00:17

business Blockchain DEX Cross-Chain DEX aggregator OpenOcean enables cross-chain swaps across major networks

Decentralized Exchange (DEX) aggregator OpenOcean has announced the rollout of its new interoperable "all-in-one" cross-chain swap platform, which allows users to swap and bridge assets across Ethereum, BNB Chain, Polygon, Arbitrum, Avalanche, and Fantom.

21.12 / 21:15

business regulation coinbase VASP Coinbase secures VASP registration in Ireland

Crypto exchange Coinbase was granted permission by the Central Bank of Ireland to act as a virtual asset service provider (VASP), according to a Dec. 21 announcement. The company’s operations in the country will be overseen by Cormac Dinan, a former employee of Crypto.com, Deloitte and Citigroup.

21.12 / 18:49

business Blockchain Mining Bitcoin Bitcoin Miner Financial Bitcoin miner Northern Data says it has no financial debt, expects $204M in revenue for 2022

According to a new letter to shareholders posted on Dec. 21, Aroosh Thillainathan, CEO of German Bitcoin (BTC) mining company Northern Data, said that the firm expects to generate upwards of $202M to $206M in revenue from crypto mining operations this year. At the midpoint range, this represents a growth of 1.11% from Northern Data's total sales of $202M for the 2021 fiscal year, when the firm grew its revenue ten-fold from 2020. Thillainathan added:

21.12 / 18:07

business Ethereum Crypto platform Paxful removes ETH from its marketplace

Peer-to-peer cryptocurrency marketplace Paxful has removed Ether (ETH), Ethereum’s native token, from its marketplace, citing a number of concerns around the world’s second-largest cryptocurrency by market capitalization.

21.12 / 16:15

business defi exchanges Pantera CEO on the FTX collapse: Blockchain didn’t fail

With the FTX exchange being highlighted all over the world of finance, trust in the crypto space seems to dwindle. However, Pantera Capital CEO Dan Morehead believes that there are two areas in crypto that truly work.

21.12 / 13:13

business Adoption Banks data Consumers are crypto-curious —one in five own digital currency: Accenture

Over the last year, the crypto space has endured lasting market volatility and scandals, which have negatively affected consumer trust in the industry. However, an end-of-the-year report from Accenture revealed that consumers are still holding crypto - and for the long term.

21.12 / 11:05

business regulation Swyftx regulatory Superhero cans merger with Swyftx citing regulatory scrutiny

With more regulators eyeing the crypto space as the FTX debacle continues, the $1.5 billion merger of online investing platform Superhero with the Australian crypto exchange Swyftx was shelved.

21.12 / 11:05

business Bitcoin Bitcoin Miner Bitcoin miner Core Scientific reportedly files for Chapter 11 bankruptcy

Just days after creditors offered to help Core Scientific — a Bitcoin (BTC) mining company — avoid possible bankruptcy, reports emerged confirming the business’ inevitable fate. Core Scientific reportedly filed for Chapter 11 bankruptcy protection in Texas owing to falling revenue and BTC prices.

21.12 / 10:03

business virtual reality Metaverse Huawei Support Current infrastructure can't support the Metaverse, says Huawei report

Chinese telecom giant Huawei doesn’t believe current telecom infrastructure is enough to cope with the needs of the Metaverse, adding that 5G and 6G networks just might.

21.12 / 09:25

business cryptocurrency RBI Reserve Financial Shaktikanta Das, Reserve Bank of India: Next Financial Crisis Will Come From Private Cryptocurrencies, Says RBI Governor

The RBI governor said that cryptocurrencies pose risks for financial stability.(File)

21.12 / 07:51

business cryptocurrency FTX Crash Deal Fried Sam bail Sam Bankman-Fried Said to Be in Talks With Prosecutors Over Bail Deal

Sam Bankman-Fried’s legal team is discussing a deal with federal prosecutors that could allow the disgraced cryptocurrency mogul to be released on bail when he is extradited to the United States, according to three people with knowledge of the matter.

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