Page 26 - Cryptocurrency

Coinbase gets approval to offer crypto futures to eligible US customers

Coinbase said it's received regulatory approval to bring federally regulated crypto futures trading to eligible customers in the US, sending shares sharply higher before the opening bell Wednesday. In June, the US Securities and Exchange Commission filed lawsuits against Binance and Coinbase, saying that the companies were in violation of the the law because they were operating as securities exchanges without registering with the agency. Coinbase said Wednesday that it had secured regulatory approval from the National Futures Association to operate as a futures commission merchant. The cryptocurrency exchange said that it filed its application with the association in 2021. Now that it has received approval, Coinbase says eligible US customers will be able to access regulated derivatives products through Coinbase Financial Markets, subject to the oversight of the Commodity Futures Trading Commission and the NFA. The company tweeted that it can now offers cryptocurrency futures ...

Judge sends FTX founder to jail, says crypto mogul tampered with witnesses

FTX founder Sam Bankman-Fried left a federal courtroom in handcuffs Friday after a judge revoked his bail after concluding that the fallen cryptocurrency wiz had repeatedly tried to influence witnesses against him. Bankman-Fried looked down at his hands as Judge Lewis A Kaplan explained at length why he believed the California man had repeatedly pushed the boundaries of his $250 million bail package to a point that Kaplan could no longer ensure the protection of the community, including prosecutors' witnesses, unless the 31-year-old was behind bars. At the conclusion of the hearing, Bankman-Fried took off his suit jacket and tie and turned his watch and other personal belongings over to his lawyers. The clanging of handcuffs could be heard as his hands were cuffed in front of him. He was then led out of the courtroom by US marshals. It was a spectacular fall for a man once viewed by many as a savvy crypto visionary who had testified before Congress and hired celebrities including ..

Crypto wrap: Market flat amid anticipation of another 25 bps hike by US Fed

Market data also showed that the volatility in Bitcoin has been low in the last seven days

PayPal rolls out dollar stablecoin to boost digital tokens for payments

With PYUSD, Chief Executive Officer Dan Schulman is seeking to cement PayPal's dominance in digital payments by leaning on technology

ED seizes Rs 1,144 cr crime proceeds, arrests 20 in crypto fraud cases

The Enforcement Directorate has seized proceeds of crime amounting to Rs 1,144 crore and arrested 20 persons in cases related to frauds in cryptocurrency/ virtual digital assets, Minister of State for Finance Pankaj Chaudhary said on Monday. Further, under Foreign Exchange Management Act, 1999 (FEMA) assets amounting to Rs 270.18 crore have been seized under section 37A of FEMA and one show cause notice to cryptocurrency exchange Zanmai Labs Pvt Ltd, known as WazirX, and its Directors under FEMA for transactions involving cryptocurrencies worth Rs 2,790.74 crore has also been issued. In a written reply in the Lok Sabha, as per the Financial Action Task Force (FATF), the anonymity associated with virtual assets attracts criminals. "The Directorate of Enforcement is investigating several cases related to crypto currency / virtual digital currency frauds wherein a few crypto exchanges have also been found involved in money laundering," Chaudhary said. The ED has taken action as per ..

Crypto wrap: Market trading sideways as altcoins under selling pressure

On a positive note, the chances of a spot Bitcoin ETF being launched in the US this year have improved significantly, from 50% to 65% as per Bloomberg Intelligence

German data watchdog probing Worldcoin crypto project, says official

Worldcoin, which launched last week, requires users to give their iris scans in exchange for a digital ID and, in some countries, free cryptocurrency as part of plans to create a new identity

Crypto wrap: Market trading sideways on Fed rate hike, Twitter rebranding

Earlier this week, US Fed hiked its benchmark interest rate by 25 basis points, taking it to the highest in 22 years

Crypto exchange CoinSwitch lists holdings after its second POR report

This signifies that the company maintains a holdings ratio of 1:1 or more, meaning that it holds all user assets and fiat balances

Crypto platform CoinSwitch releases second proof of reserves data

CoinSwitch said that its cash and cash equivalent balances are 6.79 times higher than the balance of its users

Sam Bankman must be jailed until trial, says prosecutor, citing violations

Sam Bankman-Fried should be immediately jailed, a prosecutor told a federal judge on Wednesday, saying the FTX founder violated his bail conditions by sharing information with a reporter designed to harass a key witness against him. Assistant US Attorney Danielle Sassoon said the government had concluded there were no set of bail conditions that would ensure that Bankman-Fried wouldn't try to tamper with or influence witnesses. She said Bankman-Fried should be jailed because he shared personal writings about Caroline Ellison, who was the CEO of Alameda Research, a cryptocurrency hedge fund trading firm that was an offshoot of FTX. Bankman-Fried is scheduled for trial October 2 in Manhattan on charges that he cheated investors and looted FTX customer deposits. Bankman-Fried has been free on USD 250 million since his December extradition from the Bahamas, required to remain at his parent's home in Palo Alto, California. His electronic communications have been severely ...

Scamsters led by Chinese handlers dupe 15000 Indians of Rs 700 crore

The cash was converted into cryptocurrency after being passed through various Indian bank accounts and, subsequently, routed to China through Dubai

Over half of Indian crypto investors in for long term: WazirX survey

In the age group of 18-30 years, 40% of respondents said they have invested more than Rs 40,000 in digital assets

ChatGPT's Sam Altman launches eyeball scanning crypto project Worldcoin

Worldcoin deploys a small device, christened the Orb to scan people's eyeballs to create a unique digital identity

Bankrupt FTX sues former CEO Sam Bankman-Fried to recover over $1 billion

FTX said that the defendants continually misappropriated funds to finance luxury condominiums and other "pet projects", while committing "one of the largest financial frauds in history"

Crypto wrap: Market volatile on profit booking after last week's rally

The major beneficiary of Bitcoin's weakness has been Ripple's XRP token which now enjoys a market dominance of 21%

Sequoia Capital shakes up venture capital team, sheds two crypto investors

Longtime partner Michael Moritz is leaving the venture firm to focus on Sequoia Heritage, a wealth management business he helped start, Sequoia said Wednesday

G20 FMCBG meeting: Members find common ground on economy and crypto

Ukraine, international law remain sticking points

Financial Stability Board seeks measures to regulate cryptoassets

Authorities should, to the extent necessary, achieve regulatory outcomes comparable to those in traditional finance, the FSB said

CoinDCX collaborates with Jocata over anti-money laundering processes

The partnership with Jocata will enable CoinDCX to further augment its AML framework to navigate through the developing regulatory landscape