Cooper Financial News

Ukraine’s anti-corruption bureau has stated that it is probing the crypto sector to unmask money launderers.

FTX founder Sam Bankman-Fried has been charged with directing $40 million (€36.86 million) in bribes to one or more Chinese officials to unfreeze assets relating to his cryptocurrency business.

Shawn Chan, CEO of Whampoa Group, comments: "We were impressed by Bahrain’s solid reputation in the financial services sector, transparent regulatory framework, and ongoing pledge to collaborate and innovate. We are committed to providing innovative digital financial solutions in line with global best practices and are confident that our digital bank will set a new benchmark for the industry.Bahrain was among the first Gulf Cooperation Council (GCC) countries to issue crypto-asset licenses.Khalid Humaidan, chief executive of the Bahrain Economic Development Board, says: "The establishment of these types of institutions are vital to further strengthening the existing digital assets industry.

Shawn Chan, CEO of Whampoa Group, comments: "We were impressed by Bahrain’s solid reputation in the financial services sector, transparent regulatory framework, and ongoing pledge to collaborate and innovate. We are committed to providing innovative digital financial solutions in line with global best practices and are confident that our digital bank will set a new benchmark for the industry.Bahrain was among the first Gulf Cooperation Council (GCC) countries to issue crypto-asset licenses.Khalid Humaidan, chief executive of the Bahrain Economic Development Board, says: "The establishment of these types of institutions are vital to further strengthening the existing digital assets industry.

In the world of cryptocurrency, Bitcoin continues to be a subject of great interest and speculation. 

The Terra Luna Classic price has gained by 8% in the past 24 hours, rising to $0.00009048 on the day the cryptocurrency witnesses the one-year anniversary of the infamous Terra crash.

The last week the crypto market generally went down—with one notable exception. Meme coins, popular but risky cryptocurrencies, sometimes depicted with comical or animated memes, that are supported by enthusiastic online followers but may hold little or no intrinsic value, posted big price increases.

Despite the subject matter, moderator Soumak Chatterjee from Deloitte insisted that we were not going to get a “doomsday panel”. Charlene Cieslik from Bitcoin ATM operator Localcoin noted that the recent US bank failures put paid to a widely held perception that the digital asset space is uniquely unstable. However, the participants were under no illusion about the damage that the sector’s reputation has suffered in the last few months. And, while some in the US have been chaffing at regulatory intervention, there was broad acceptance on the panel that there needs to be cooperation with lawmakers. Mohamad Al-Bustami from the Office of the Superintendent of Financial Institutions was at pains to stress that his body is not ant-crypto and that he is a “believer” in the technology and that engaging with the industry is playing a key role in how regulation is being shaped. Cieslik and Evan Thomas from WealthSimple offered a clear example of how different firms have gone about entering the crypto space - with contrasting results. WealthSimple became the first Canadian company to offer clients staking while meeting securities laws, spending significant resources working with regulators to ensure that it would be compliant. In contrast, Cieslik said that her former employer, Coinsquare, blew four year lead on WealthSimple by not being so diligent and carrying out wash trading as well as whistleblower retaliation. Cieslik had some strong thoughts on FTX and what its failure says about the broader ecosystem. There were, she notes, a host of accounting firms, VCs and others that claim to have done due diligence on the company. “There was no adult in the room. What exactly was your due diligence other than FOMO?”

At the Consensus 2023 conference, Polygon Labs and Google Cloud made the announcement of a multi-year partnership with the intention of developing and improving the tools and infrastructure associated with the Ethereum scaling protocol. As part of the cooperation, Google Cloud will make a framework and developer tools available to Polygon in order to facilitate the creation of Web3 products and decentralized apps (DApps) on Polygon.

The price of WSB Coin (WSB) has risen by over 6,000% since yesterday, following a tweet from the founder of WallStreetBets which helped draw investor attention towards a new wave of WallStreetBet-themed meme tokens.

WASHINGTON—House Democrats took a step to force a vote on a debt-ceiling increase using a legislative maneuver that could allow them to go around Republican leaders if they can win a handful of GOP votes.

In a recent announcement, the Raiffeisenlandesbank Niederosterreich-Wien (RLB NO-Wien) detailed its intentions to foray into the realm of bitcoin investing services. The Austrian cooperative banking institution, which was established in 1900 and now has a 22.6% interest in Raiffeisen Bank International (RBI), has decided to launch its new service in collaboration with the Austrian cryptocurrency startup Bitpanda.

Daniel Shin, the co-founder of Terraform Labs—once one of the most valuable crypto exchanges before its flagship TerraUSD (UST) stablecoin imploded last year—was indicted by South Korean authorities on Tuesday.

A Commodity Futures Trading Commission official said Tuesday that she hopes to find a «path forward» in the regulator's legal battle with crypto exchange Binance, noting that no decision has been taken yet on whether to settle the case or take it to court.

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WASHINGTON—Treasury Secretary Janet Yellen plans to say Thursday that the U.S.’s policies toward China will give priority to addressing national-security concerns over preserving economic growth.

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Robo-advisor firm Betterment agreed on Tuesday to settle charges with the U.S. Securities and Exchange Commission for $9 million over alleged failures related to an automated tax service.

WASHINGTON – Fallout from the U.S. banking crisis is likely to tilt the economy into recession later this year, according to Federal Reserve documents released Wednesday. Minutes from the March meeting of the Federal Open Market Committee included a presentation from staff members on potential repercussions from the failure of Silicon Valley Bank and other tumult in the financial sector that began in early March.

Most U.S. adults in a survey say they have little confidence that Chinese President Xi Jinping will «do the right thing regarding world affairs,» according to the poll by the Pew Research Center released Wednesday.

The little-known FTX co-founder Gary Wang is reportedly cooperating with prosecutors after pleading guilty to fraud in December.