BlockFi, a bankrupt cryptocurrency lender, is attempting to block FTX and Three Arrows Capital (3AC) from retrieving hundreds of millions of dollars to pay back their creditors. BlockFi claims that FTX misappropriated $5 billion of the loan it provided and that BlockFi’s creditors should not be pushed to the back of the line. FTX also […]
The Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC) have released a report detailing the findings of their pilot program exploring the use cases for a potential e-AUD, a central bank digital currency (CBDC). The pilot found four primary areas which could be improved by a CBDC, including enabling complex […]
Xiao Yi, a former Chinese government official, has been sentenced to life in prison for helping subsidize a secret, large-scale Bitcoin mining operation within the country’s borders, alongside unrelated acts of corruption. Yi pled guilty to the charges and has already returned the stolen funds and seen the seizure of both the bribes and his […]
The CyberConnect token $CYBER has seen an impressive performance in the past weeks, with a listing on Binance on August 15 and a subsequent 80% increase. Despite a subsequent price drop, the coin is still up by over 100% in the last seven days, and its 24-hour trading volume has increased by 200%.The prominent South […]
Cryptocurrencies have been promoted as a way to reduce financial risks in emerging economies, but a new report from the Bank for International Settlements (BIS) suggests that they may actually be amplifying them. The report, which was compiled by the BIS’s Consultative Group of Directors of Financial Stability, states that cryptocurrencies cannot solve the financial […]
An unknown Bitcoin whale has recently emerged, accumulating 118,300 Bitcoin worth over $3 billion at current market prices. The identity of the owner remains unknown, leading to speculation that it could be a centralized exchange such as Gemini or BlackRock, the largest asset management firm in the world.The wallet has become the third-largest holder of […]
CoinDCX, a Coinbase Ventures-backed Indian crypto unicorn, has recently laid off 12% of its workforce, or 71 out of its total 590 employees. This decision was taken due to the prolonged bear market and the impact of Tax Deducted at Source (TDS) on domestic exchanges. The company had previously gone through an internal restructuring earlier […]
The US housing market has experienced a decline in pre-owned home sales in July, dropping to the lowest level in six months. This is due to rising mortgage prices, a small inventory of available homes, and fewer prospective buyers entering the market. The decline in home sales has a ripple effect on the US economy, […]
The US Securities and Exchange Commission (SEC) has taken a new approach to Ripple in its Aug 19 Motion to Certify Interlocutory Appeal. The SEC has changed its stance on XRP from claiming XRP is a digital asset to stating that the token is a “computer code with no inherent value”. This could fuel hopes […]
Sam Bankman-Fried, the former CEO of FTX, is asking for a more lenient prison schedule to allow him to prepare for his upcoming trial in October. His lawyers have written a letter to the U.S. District Judge Lewis Kaplan, requesting that Bankman-Fried be allowed to leave prison five days a week to review documents. Bankman-Fried’s […]
