Financial Financial News

Troubled Celsius Network has hired US banking giant Citigroup to advise it on possible solutions aimed to bail out its business, three days after the major crypto lending firm appeared to witness bankruptcy concerns.

MPs have warned of the potential risks to financial stability if the government presses ahead with a planned overhaul to post-Brexit regulation.

Vitalik Buterin, co-founder of both Ethereum & Bitcoin Magazine, took to Twitter to share his thoughts on non-financial use-cases for blockchain technology.

Retirees and those planning to retire soon are the people most threatened by high inflation, investment managers and financial experts said at CNBC's Financial Advisor Summit.

The Federal Reserve is expected to raise interest rates Wednesday, stepping up its efforts to rein in inflation. The move will ripple through the financial world and the wallets of millions of Americans, changing the math on a range of money decisions big and small.

United States Securities and Exchange Commission (SEC) Chairman Gary Gensler said he’s worried that a proposed bill to create a regulatory framework for cryptocurrencies could weaken investor protections in the traditional financial market.

How do we marry the regulated market and the decentralised one? Do we really need to?

As decentralized finance continues its victorious march — although the road is sometimes bumpy — some significant questions on its nature remain. How can DeFi applications be protected from becoming nonoperational under extreme stress? Is it really decentralized if some individuals have way more governance tokens than others? Does the anonymous culture compromise its transparency?

Coin Center, a Washingon, DC-based non-profit blockchain advocacy group, filed a lawsuit against the United States Department of the Treasury for allegedly provisioning an unconstitutional amendment in the controversial infrastructure bill.

South Korea’s OK Financial Group – one of the nation’s biggest moneylenders and savings banking services providers – has unveiled plans to create a cryptoasset. The company will become one of a growing cohort of firms that are hoping to launch tokens, and this appears to indicate that the days of the nationwide ban on initial coin offerings (ICOs) may be numbered.

Singapore's private securities platform ADDX has said it would give credence to crypto assets

A pair of US senators were set to propose legislation that would create special exemptions to federal law for some cryptocurrencies, amid an intensifying lobbying push by the industry to avoid existing regulations.

Hong Kong-based Animoca Brands has released the company’s key unaudited financial and business highlights for the last three months of 2021 and the first four months of 2022.

On Monday, IRA Financial Trust, a platform providing self-directed digital asset retirement and pension accounts, filed a lawsuit against cryptocurrency exchange Gemini for alleged negligence in safeguarding customers' digital assets during a critical exploit. The firm's client accounts were held in Gemini's custody. On February 8, a breach led to the siphoning of $36 million in crypto assets from customers' accounts via unauthorized withdrawals. 

In April, United States-based retirement plan provider Fidelity Investments moved to allow 401(k) retirement savings account holders to invest directly in Bitcoin (BTC), the flagship cryptocurrency, making crypto a potential part of one’s savings for the future.

Paul had a message for his 6 million Twitter followers: He was «all in» on a new cryptocurrency called Dink Doink. According to the project's creator, Dink Doink investors would receive shares of a cartoon character, entitling them to a portion of the proceeds if the googly-eyed figure ever appeared in a TV show or movie. Last June, Paul, a 27-year-old boxer and social-media influencer, praised Dink Doink on Twitter and in a public Telegram chat, before endorsing it again on his podcast, «Impaulsive.» But by mid-July, the price of Dink Doink had plummeted to a fraction of a cent, and Paul was facing an online backlash. In his endorsements, he had failed to mention some relevant information: He and the project's creator were friends, and they had come up with the idea for the cryptocurrency together. He had also received a large allocation of Dink Doink coins when it launched.

Logan Paul had a message for his 6 million Twitter followers: He was “all in” on a new cryptocurrency called Dink Doink.

Bill Miller the billionaire founder and Chief Investment Officer of investment firm Miller Value Partners, has said he considers Bitcoin (BTC) an “insurance policy against financial catastrophe.”

Financial inclusion, accessible services and the unbanked are standard talking points in many conversations about crypto. But, the details may remain somewhat fuzzy — the people who talk about crypto are generally those already inside the financial system. There are people who are actively working to increase financial inclusion and access to services for the vast number of people who are unbanked or underserved. 

Cryptocurrencies will pose a risk to financial stability if the emerging sector maintains its rapid growth of the last two years and financial firms deepen their involvement, the European Central Bank (ECB) said on Tuesday. The crypto market slumped sharply this month after the downfall of major «stablecoin» terraUSD. The crash has led to calls from the world's top financial leaders for «swift and comprehensive» regulation of the sector. Cryptocurrencies — historically a niche asset favoured by risk-hungry investors, exploded in size during the COVID-19 pandemic. Institutional investors especially were drawn by claims that bitcoin acts as a hedge against inflation and offers high returns in the face of low interest rates.

Crypto markets may pose risks to wider financial stability: European Central Bank