Bitazza Shines at the Tech Investment Show
Bitazza is a prominent player in the world of cryptocurrency trading, offering a secure, trustworthy, and intuitive platform that serves both novice and experienced traders. Recently, Bitazza shined at the Tech Investment Show, an event that brings together some of the most innovative and promising technology companies from all corners of the globe. At the Tech Investment Show, Bitazza showcased...
SEC Sues Do Kwon Over Terra $40 Billion Fraud
The SEC are now suing Do Kwon, stating that the founder of Terra, “perpetuated a fraudulent scheme that led to the loss of at least $40 billion of market value.” South Korea has already issued the warant for Do Kwon's arrest and released a 'red notice' for the whereabouts on him. South Korean police are searching for him continously,...
Importance of Radical Transparency for Crypto Sector in the Post-FTX Era.
Trust in the crypto business has dwindled in recent months because of unethical actors and the prolonged decrease in cryptocurrency values, dubbed the "crypto winter." It's simple to forecast the "death of crypto." These elements work against the long-term adoption of digital currency and financial assets. However, despite the elements, the initial promise of blockchain technology remains. The objective of...
U.S. judge postpones the SEC and CFTC proceedings against FTX’s Sam Bankman-Fried
Manhattan judge, Kevin Castel, delayed Sam Bankman-Fried's legal cases against two civil regulators on Monday 13th Feb in New York. The postponement of these two cases is pending the outcome of the Department of Justice's criminal investigation into the creator of the now-defunct FTX cryptocurrency exchange. A Justice Department request to halt the legal actions brought by the Securities and...
U.S. SEC labeled Binance Stablecoin as Unregistered Security
In Feb. 13, the U.S. Securities and Exchange Commission (SEC) told the Paxos Trust Company, the firm that backs up Binance's stablecoin, that they should have registered the product as a security. Regulators are planning to act against the platform. "Prepared to vigorously litigate if necessary" responded Paxos in a statement on Monday with the disagreement of the SEC's allegations...
CBDC to be issued by UAE Central Bank as part of Financial Transformation Program
The creation of a CBDC aims to address cross-border payment inefficiencies and promote innovation in domestic payments. As the first phase of its recently launched financial infrastructure transformation (FIT) program, the Central Bank of the United Arab Emirates (CBUAE) intends to introduce a central bank digital currency (CBDC) for both domestic and international use. Financial Infrastructure Transformation Program The CBUAE recently announced...
Wirex join forces with Visa: Expanding services to APAC
A leading crypto payments platform, Wirex, has announced a long-term strategic global partnership with Visa. This includes joining Visa in APAC and the UK, which will allow Wirex to directly issue crypto-enabled debit and prepaid cards in over 40 countries. Wirex and Visa have agreed to expand their collaboration in key markets such as APAC, the United Kingdom, Europe, and...
Nexo Departing US after Settlements with Regulators
Nexo's earn product has been shut down due to a multi-million-dollar settlement the company reached with US regulators last month. Nexo announced the termination in a blog post on February 10, stating that the product would be discontinued on April 1. Users could earn daily compounding yields on certain cryptocurrencies by lending them to Nexo. https://twitter.com/Nexo/status/1616195610046070792?s=20 Nexo cited its Jan. 19...
Why Sam Bankman-Fried did us all favor
The former FTX CEO has been vilified for his role in orchestrating the fraud, however, a deeper look into the overall situation shows he actually did us a favor. In its brief history, the Wild West of cryptocurrencies has seen no shortage of scandals, but the most recent collapse of FTX is undoubtedly the worst to have struck the sector. The...
Paxos will be sued by SEC over Stablecoin
According to the Wall Street Journal, the US Securities and Exchange Commission (SEC) intends to sue stablecoin issuer Paxos, which is behind the Pax Dollar (USDP) and Binance USD (BUSD) tokens, over the latter stablecoin. The commission does not comment on the existence or nonexistence of a potential investigation according to an SEC spokesperson. In the report, the SEC claims that...
