Deloitte: Metaverse Could Add $1.4 Trillion a Year to Asia’s GDP
Deloitte estimates the metaverse could add $1.4 trillion to Asia’s GDP annually by 2035. Noting that the metaverse market could be as large as $13 trillion by 2030, the global financial services firm said: “The metaverse is no longer…
Bitget Gives Investors an Edge With a Series of Crypto Social Trading Features
For most retail investors, trading has traditionally been a solitary exercise, making the barrier to entry relatively high. Information regarding trading instruments and market conditions can often be hard to come by or, at other times, too complex…
US Seizes Domains Used in ‘Pig Butchering’ Crypto Scam
U.S. authorities have seized seven domains used in “pig butchering” cryptocurrency schemes. “Once the money is sent to the fake investment app, the scammer vanishes, taking all the money with them, often resulting in significant…
Ripple CTO Says One Important Lesson From FTX Meltdown ‘Will Not Be Learned’
A Ripple executive says there is one important lesson from the meltdown of crypto exchange FTX that he “can say with total confidence will not be learned.” The executive added: “Regulation that punishes after the fact…
NYC Mayor Undeterred by FTX Collapse — Insists Crypto Is an Industry ‘We Must Embrace’
The mayor of New York City, Eric Adams, is not discouraged by the collapse of crypto exchange FTX and heavy market sell-offs. Noting that crypto is coming whether we like it or not, he stressed the importance of moving into this space. NYC’s…
US Lawmaker: FTX Collapse Isn’t a Crypto Failure — It’s a Failure of SEC, Bankman-Fried, Centralized Finance
U.S. Congressman Tom Emmer says the FTX meltdown is not a crypto failure but a failure with SEC Chairman Gary Gensler, former FTX CEO Sam Bankman-Fried, and centralized finance. “We need to get to the bottom of this. We need to understand why…
Kraken’s Jesse Powell Takes Aim at Newly Launched Proof-of-Reserve Lists, POR Audit ‘Requires Cryptographic Proof’
On Tuesday, amid the many conversations concerning crypto exchange proof-of-reserves, Kraken executive Jesse Powell shared a screenshot of coinmarketcap.com’s newly launched proof-of-reserves (POR) dashboard. Powell said he planned to be “more…
Dubai Multi Commodities Centre to Issue Gold Backed Tokens Using the Xinfin Blockchain Protocol
The Dubai Multi Commodities Centre (DMCC) has announced a new partnership with the firm Comtech Gold in order to digitize gold trading. The DMCC said the tokenized precious metals are backed by DMCC Tradeflow-registered gold bars, and each…
MEXC Global Vice President Andrew Weiner Explains the Appeal of Futures Trading
A 6-year veteran of the crypto industry, Andrew Weiner serves as the Vice President of MEXC Global. As the former executive of RegTech and digital identity pioneer iComplyKYC, he worked with notable brands that include Thomson Reuters…
Bankruptcy Lawyers Say FTX Was Operated by ‘Inexperienced and Unsophisticated Individuals’
On Tuesday, the attorneys representing FTX told the court that a “substantial amount of assets have either been stolen or are missing” and further stressed to the bankruptcy court that FTX executives left the lawyers James Bromley and Sullivan…
Biggest Movers: LTC Moves to 6-Month High, SOL up Nearly 20%
Litecoin extended recent gains on Nov. 23, with the token climbing to its highest point since May. The move saw prices climb by nearly 20% in today’s session, and comes ahead of this afternoon’s Federal Open Market Committee (FOMC)…
Elon Musk Slams Semafor’s ‘Journalistic Integrity’ — Tesla Exec Says ‘Semafor Is Owned’ by FTX Co-Founder Sam Bankman-Fried
Following the significant amount of criticism directed at mainstream media publications for a lack of journalistic integrity while reporting on FTX executives, Tesla’s executive Elon Musk called out the news website Semafor because the former FTX…
New York Governor Signs Law Partially Banning Bitcoin Mining on Fossil Fuels
A moratorium on some crypto mining operations relying on carbon-based energy has been signed into law in New York. Businesses engaged in proof-of-work mining in the state will not be able to expand or renew their permits for the next two years as a…
Bitcoin moved back above $16,000 on Nov. 23, as markets continued to react to the news that Coinbase holds 2 million bitcoin worth $39.9 billion. Centralized exchanges continue to face scrutiny following the collapse of FTX, with many moving to…
Estonia, US Arrest 2 Suspects in $575 Million Crypto Fraud Scheme
Law enforcement officers from Estonia and the United States have arrested two men for allegedly committing a large-scale cryptocurrency fraud. The Estonian nationals, who ran a crypto mining service and a fake virtual currency bank, laundered their…
Binance and Paxos’s BUSD: High Quality Reserves, Audits, and Regulation
What is BUSD? Recently, there have been many questions about the safety and soundness of products in the crypto space. There have been many questions about stablecoins in general, so this piece is intended as an explanation of BUSD. First and…
Report: Kenyan Lawmaker Proposes Introducing Crypto Income and Capital Gains Tax
According to a capital markets amendment bill reportedly sponsored by Kenyan lawmaker Abraham Kirwa, cryptocurrency holders in the country will be obliged to pay taxes on gains. In addition, the bill (if passed into law) would require crypto…
Austrian Crypto Exchange Bitpanda Secures Trading License From Germany’s BaFin
Crypto exchange and custody platform Bitpanda announced on Nov. 22 that it had received a crypto trading license from Germany’s Federal Financial Supervisory Authority. According to Bitpanda, securing a license means it has become the…
DCG Subsidiary Foundry to Acquire 2 ‘Turnkey’ Bitcoin Mining Facilities From Compute North
Digital asset mining and staking firm Foundry has agreed to purchase two “turnkey” bitcoin mining facilities from Compute North, a bitcoin miner that filed for Chapter 11 bankruptcy protection on Sept. 22, 2022. Foundry says the two…
Brazilian Exchange Bitpreco to Expand to Banking Services; Bets on Cashback to Counter Crypto Fears
Bitpreco, a Brazilian cryptocurrency exchange, has decided to extend its functionality to offer banking services through a new platform called Bitybank. The company, which will also open payment and digital account services, plans to attract users…
Bank of England Deputy Governor: FTX Collapse Highlights Urgent Need for Tighter Crypto Regulation
Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, says the collapse of cryptocurrency exchange FTX has highlighted the urgent need for tighter crypto regulation. “We should not wait until it is large and…
JPMorgan Chase Granted Wallet Trademark Covering Various Virtual Currency and Crypto Payment Services
The United States Patent and Trademark Office (USPTO) has granted JPMorgan Chase Bank’s trademark registration for “J.P. Morgan Wallet” for use in a wide range of financial services, including virtual currency transfers and…
US Senators Urge Fidelity to Stop Offering Bitcoin in 401(k) Plans Citing FTX Collapse, ‘Serious Problems’ in Crypto Industry
Several U.S. senators have called on Fidelity Investments to reconsider allowing bitcoin in 401(k) retirement plans. “The recent implosion of FTX, a cryptocurrency exchange, has made it abundantly clear the digital asset industry has serious…
NFT Sale Starts Mid December! NFT Sale Details of Entertainment DAO Project ‘SUPER SAPIENSS’ by Director Yukihiko Tsutsumi, Katsuyuki Motohiro and Yuichi Sato Revealed
PRESS RELEASE Financie Inc. pleased to announce that the “SUPER SAPIENSS NFT” sales conducted by “SUPER SAPIENSS”, an entertainment DAO project active on FiNANCiE. About SUPER SAPIENSS “SUPER SAPIENSS” is…
Coinbase CEO Says Company Holds 2 Million Bitcoin, Reminds People Firm’s ‘Financials Are Public’
According to Coinbase CEO Brian Armstrong, as of Sept. 30, 2022, the company holds 2 million bitcoin worth $39.9 billion. The news Armstrong shared comes at a time when the general public is looking directly at exchange balances following…
Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’
During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of gold in Q3 2022. The study highlighted that it was the…
Onchain Research Shows FTX’s Falling BTC, ETH, Stablecoin Balances ‘Suggest Cracks Had Formed as Far Back as June’
While the analytics firm Nansen published a report that points to the Terra collapse igniting the flames of FTX’s and Alameda Research’s financial problems, onchain data from the intelligence and research firm Glassnode suggests…
Huobi Global Rebrands as Huobi, Introduces New Strategy
Huobi will endeavour to bring value to its business and provide secure and professional services to its users as it rebrands. Various technologies and resources will also be integrated into Huobi’s global public chain ecosystem, including the…
From Fine Art to Bored Apes and Punks: Blue Chip NFTs Owned by Celebs Lose Significant Value
During the week of Jan. 30 to Feb. 5, 2022, the search term “NFT” had a Google Trends (GT) score of 90 and today the GT score has dropped a great deal down to a score of 12. Not only has interest declined, but blue chip non-fungible…
Litecoin rallied to a three-week high on Nov. 22, despite the global cryptocurrency market cap mostly residing in the red. As of writing, the crypto market is down 1.11%, however, litecoin is up by over 12%. Another notable gainer has been…
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