News

South Korea to Regularly Inspect Crypto Risks With New Monitoring Tools

January 19, 2023 0

South Korea’s financial regulator is developing new tools to regularly monitor crypto risks. The regulator warned that while the impact of the crypto market on the traditional financial system is still low, the risks posed by crypto to the country’s financial stability could increase sharply in

News

Japan Urges Regulators Worldwide to Subject Crypto Exchanges to Bank-Level Oversight

January 19, 2023 0

Japan has reportedly urged other countries, including the U.S., to regulate crypto exchanges like they do banks. A top official at the Financial Services Agency explained that the recent FTX implosion wasn’t brought on by crypto technology but by “loose governance, lax internal controls, and the absence of regulation and supervision.” Bank-Level Cryptocurrency Regulations

News

Ethereum Gas Fees Spike as ETH Value Rises: Average Onchain Fees Jump by More Than 50%

January 19, 2023 0

While the second-largest crypto asset by market capitalization, ethereum, has risen 27% against the U.S. dollar in the last two weeks, the network’s average and median-sized gas fees have increased by more than 50%. On the first day of 2023, the average fee to spend ether was around $2.93 per transfer, but today the average […]

News

Bitzlato Exchange Busted as US Deals ‘Blow to Crypto Crime,’ Arrests Owner

January 19, 2023 0

Cryptocurrency exchange Bitzlato, better known to the Russian-speaking segment of the market, has been taken down as part of an “international cryptocurrency enforcement action,” the U.S. Justice Department announced. The Russian owner of the platform has been arrested for his role in the alleged transmission of illicit money. Bitzlato claimed it was hacked. US, France

News

Nearly $1 Billion Poured Into Egypt’s Forex Market — Local Currency Now World’s Worst Performing Currency in 2023

January 18, 2023 0

The Egyptian central bank recently claimed that its decision to devalue the local currency has been vindicated by foreign investors’ return to the country’s foreign market where they reportedly poured in $925 million in just three days. The surge in the sales of Egyptian treasury bills that mature in a year or less similarly is […]

News

Digital Currency Group Suspends Dividends Amid Regulatory Trouble With Subsidiary Genesis

January 18, 2023 0

According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission (SEC) charging a subsidiary firm of DCG, Genesis Global Capital, with operating an “unregistered offer and sale of securities to

News

CoinEx 2022 Year in Review: New Slogan, Better Product, and More User-Friendly Services

January 18, 2023 0

PRESS RELEASE. 2022 is an extraordinary year for the crypto industry, and it is also a year of struggle for both institutions and users. For CoinEx, 2022 was also a special year – quite a few crypto platforms collapsed overnight, and the panic continued as the market went through disruptive changes in Q3 and Q4 […]

News

Sam Bankman-Fried Disputes FTX US ‘Shortfall’ Claims, Critics Skeptical of Excel Spreadsheet Defense

January 18, 2023 0

Following an update from FTX debtors about the $5.5 billion discovered by administrators during an investigation, former FTX CEO Sam Bankman-Fried (SBF) took to Twitter to share a blog post from his Substack newsletter. SBF stated that the presentation published by litigation firm Sullivan & Cromwell is “extremely misleading” and that FTX US is solvent […]

News

Biggest Movers: SHIB Surges to Fresh 2-Month High on Wednesday

January 18, 2023 0

Shiba inu surged to a multi-month high on Wednesday, as the meme coin collided with a key price ceiling. Prices rose by as much as 17% in today’s session, as the global cryptocurrency market cap also trended higher. Polkadot was once again in the green, with the token hovering close to a two-month high of […]

News

FTX Discovers $5.5B in Liquid Assets — Debtors Explore Ways to Maximize Recovery via Potential Sale of Subsidiaries, Real Estate

January 18, 2023 0

On Jan. 17, 2023, FTX Trading Ltd. and affiliated debtors updated the public and detailed that the firm’s current administrators have discovered $5.5 billion of liquid assets to date. Top-level executives, including the new FTX CEO and chief restructuring officer, John J. Ray III, met with the bankruptcy case’s committee of unsecured creditors to share […]