The German Federal Financial Supervisory Authority, or BaFin, reportedly advised crypto exchange Binance to withdraw its licensing application based on concerns with CEO Changpeng Zhao (CZ) and the firm’s structuring. According to a July 28 report from The Wall Street Journal, BaFin advised Binance that Zhao may not have passed a “fit and proper” test…
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Social media platform X — formerly known as Twitter — may soon advance plans to add financial services to its users, hoping to become the American equivalent of the Chinese super-app WeChat. The concept of super-apps isn’t new. Tech giant Tencent, the company behind WeChat, has been refining the model since 2011. Like Twitter, it…
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Lawyers representing former FTX CEO Sam Bankman-Fried, also known as ‘SBF’, have requested the court seal documents related to his interviews with a New York Times reporter revealing details about his relationship with Caroline Ellison. In a July 27 filing in United States District Court for the Southern District of New York, Bankman-Fried’s legal team…
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Bitcoin (BTC) stayed rangebound at the July 28 Wall Street open despite further United States inflation data beating expectations. BTC/USD 1-hour chart. Source: TradingView Fed’s “preferred” inflation metric points to waning pressure Data from Cointelegraph Markets Pro and TradingView showed BTC price action getting only a modest boost from the Personal Consumption Expenditures (PCE) Index…
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Simon Davis is the co-founder and CEO of Mighty Bear Games, a multiplatform game developer in Southeast Asia creating accessible multiplayer experiences in Web3. Davis has spent almost two decades working in the gaming industry, but he never planned to actually work in this field. Before crypto, he was a professional guitarist who made ends…
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The French data protection agency, also called the Commission Nationale Informatique & Libertés (CNIL), is reportedly questioning the legality of data collection methods conducted by Worldcoin, according to a Reuters report. In an email to Reuters on July 28, CNIL said: “The legality of this collection seems questionable, as do the conditions for storing biometric…
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The Indian Supreme Court on July 27 reprimanded the union government for the lack of crypto regulations in the country, according to a report in a local media outlet. The Supreme Court in its observation noted that it is “ unfortunate” that the government is yet to release any clear guidelines around cryptocurrencies. The observation…
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Bitcoin (BTC) returned to exchanges en masse on July 27 in a sign that “major volatility” could come next. According to data from on-chain analytics firm Glassnode, intraday BTC exchange inflows have hit multi-month highs. Trader warns of BTC price volatility “spike” BTC price action continues to linger below $30,000, and traders have consistently warned…
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The United States Senate passed the 2024 National Defense Authorization Act (NDAA) worth $886 billion on the evening of July 27. The bill includes a provision that targets crypto mixers, anonymity-enhancing coins and institutions that are engaging in crypto trading. The NDAA is a bill that helps authorize how the country’s defense department can utilize…
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The Kyrgyz Republic, a central Asian state bordering China, is reportedly growing its cryptocurrency mining powers with support of the local government. Kyrgyz President Sadyr Japarov has given a nod to building a crypto mining farm at a hydroelectric power plant, Kyrgyzstan’s national news agency Kabar reported on July 27. The government of Kyrgyzstan plans…
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