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Crypto.com Slams The Door On US Institutional Clients: A Retreat Or A Rebellion?
Friday, June 9, 2023 - 3:38pm | 305Singapore-based cryptocurrency exchange Crypto.com announced on Friday its decision to suspend services for institutional clients in the U.S. beginning June 21. The suspension is attributed to subdued demand among institutional clients, which has been further exacerbated by the...
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Groundbreaking Crypto Move: US House Committee Proposes Clear Regulations For Stablecoins
Friday, June 9, 2023 - 2:31pm | 448In a groundbreaking move, the U.S. House Financial Services Committee has unveiled a bipartisan draft bill addressing stablecoins, as part of a broader effort to shed light on the regulation of the digital asset landscape. The hearing titled, “The Future of Digital Assets: Providing Clarity...
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EXCLUSIVE: Decentralized Exchanges Could Face Increased Regulatory Scrutiny, Predicts Bitfinex And Tether CTO Paolo Ardoino
Wednesday, June 7, 2023 - 12:06pm | 524Paolo Ardoino, the chief technology officer of Bitfinex and Tether (CRYPTO: USDT), hinted at a potential escalation in regulatory scrutiny aimed at decentralized exchanges (DEXs), even as the U.S. Securities and Exchange Commission already initiated legal action against centralized...
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US Lawmakers Warn Crypto Regulation Could Be Years-Long Process Despite Increased Funding
Tuesday, June 6, 2023 - 4:03pm | 666Regulatory frameworks concerning digital assets in the U.S. are unlikely to be transformed overnight, even if new bills aimed at facilitating the transition of these assets from securities to commodities are approved by Congress. During a session with the House Agriculture Committee, Rostin Behnam...
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Revolution In Crypto Clearing Services: Cboe Blows Up The Game With CFTC's Blessing
Tuesday, June 6, 2023 - 1:04pm | 368The U.S. Commodity Futures Trading Commission (CFTC) green lit Cboe Clear Digital's request to expand its clearing services. The regulatory body approved the addition of clearing services for digital asset futures on a margined basis. This new offering will serve futures commission merchants,...
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Coinbase Shakes Up The Crypto World With Bitcoin And Ethereum Futures Rollout
Friday, June 2, 2023 - 4:58pm | 349Coinbase Global Inc.'s (NASDAQ: COIN) Derivatives Exchange announced on Friday it will launch institution-sized Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) futures contracts on June 5. The new contracts, named BTI and ETI futures, will be sized at 1 bitcoin and 10...
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US CFTC Asks For Public Input On Digital Asset Risk Management: 'The Commission Needs To Revisit Our Regulatory Oversight'
Friday, June 2, 2023 - 12:23pm | 352In an effort to revamp and modernize its risk management regulations, the U.S. Commodity Futures Trading Commission (CFTC) solicited public feedback on potential updates. The CFTC released a proposal on Thursday, inviting commentary on suggested alterations to its risk management program, including...
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Binance Slams Reuters Report On Commingling Customer Funds, Skirts Denying Wrongdoings
Tuesday, May 23, 2023 - 2:33pm | 432Patrick Hillmann, the chief communication officer of Binance, addressed a recent Reuters report that alleged Binance had commingled customer funds, pointing out several flaws in the reporting and emphasizing the transparency of Binance's operations. Notably, Hillmann did not...
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Binance's Billion-Dollar Blunder? Report Says Crypto Exchange Commingled Funds
Tuesday, May 23, 2023 - 10:10am | 448The world's largest cryptocurrency exchange Binance allegedly violated U.S. financial rules by commingling customer funds with company revenue, in accounts held at U.S. lender Silvergate Bank (NYSE: SI), with sums running into billions of dollars. A Tuesday Reuters report ...
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Bitcoin Scam Sees US Court Impose Record $3.4 Billion Fine On South African Businessman
Friday, April 28, 2023 - 4:47pm | 578A South African businessman was ordered to pay a record $3.4 billion penalty after a U.S. judge agreed with the Commodity Futures Trading Commission that it had engaged in a multilevel marketing scam to solicit bitcoin from members of the public. Cornelius Johannes Steynberg, the founder and...
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The Next Big Short: Hedge Funds Place Record Bearish Bets On US 10-Year Treasuries
Monday, April 24, 2023 - 10:34am | 558Hedge funds went "all-in" against U.S. Treasuries as they placed their largest-ever short bet on the 10-year Note benchmark. Latest positioning statistics from the Commodity Futures Trading Commission (CFTC) on commitments of traders revealed that hedge funds' net...
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Coinbase Considers Abandoning US: The Shocking Revelation That Could Shake The Crypto World
Tuesday, April 18, 2023 - 12:34pm | 421Coinbase Global Inc (NASDAQ: COIN) CEO Brian Armstrong expressed concerns about the current regulatory environment for the cryptocurrency industry in the U.S., suggesting the company might contemplate relocating if clarity doesn't improve. What Happened: "Anything is on the table...
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Jim Cramer Advises Against Using Binance, Provokes Strong Reactions From Twitter Users
Sunday, April 2, 2023 - 2:03pm | 746Jim Cramer, the popular host of CNBC's Mad Money, says he doesn't want anything to do with Binance. In a tweet on Friday, Cramer said that, after listening to former Commodity Futures Trading Commission (CFTC) chairman Tim Massad, he would not do business...
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Binance's Stablecoin Reserves Plummet Over 65% As CEO Faces CFTC Lawsuit: Analyst
Thursday, March 30, 2023 - 8:12am | 471Binance, the world's largest digital currency exchange, experienced a significant drop in its stablecoin reserves over the past several months, with the value plummeting from $24.5 billion in December 2022 to $10.7 billion as of Wednesday, representing a 65% decrease, according to a CryptoQuant...
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Revolutionary Crypto Rules Or Devastating Blow? SEC Chief Gensler To Testify Before Congress
Wednesday, March 29, 2023 - 1:23pm | 538U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is set to appear before the House Financial Services Committee on April 18 to face questions regarding his approach to rule-making and digital assets. The SEC chairman’s stance on cryptocurrencies has been a topic of...