Crypto bank Silvergate is reportedly being probed by the United States Department of Justice fraud unit over its involvement with the bankrupt FTX exchange and its affiliates. The probe is investigating Silvergate’s hosting of accounts linked to former FTX CEO Sam Bankman-Fried’s businesses, according to “people familiar with the matter” as reported by Bloomberg on…
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Indonesia’s Ministry of Trade is reportedly aiming to roll out a national crypto exchange by June this year, six months after its previous target of December 2022. Trade Minister Zulkifli Hasan shared the new target launch date on Feb. 2 at the opening of Crypto Literacy Month in Jakarta, noting that the government is currently…
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Software analytics company MicroStrategy recorded a paper loss of over a billion dollars on its Bitcoin (BTC) holdings in 2022 but says it has no plans to stop trading the digital asset. MicroStrategy released its 2022 Q4 and year-end earnings on Feb. 2 showing the recorded impairment charges on its BTC holdings, net of gains…
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Billionaire investor Ray Dalio has described fiat currency as being in serious “jeopardy” as an effective store of wealth but doesn’t believe Bitcoin (BTC) and stablecoins will be the solution either. Dalio, the founder of hedge fund firm Bridgewater Associates explained on CNBC Squawk Box on Feb. 2 that the mass money printing of the United…
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Our weekly roundup of news from East Asia curates the industry’s most important developments. Huawei moves to trademark its NFTs According to a Jan. 28 report by Sina News, Chinese telecom giant Huawei has recently filed for eight trademarks related to its Huawei “YunYunBao” nonfungible tokens (NFT) series. The trademarks include digital collectibles in the…
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Lawyers representing a crypto user allegedly behind a $116-million exploit of decentralized exchange Mango Markets have consented to detention in the criminal case involving commodities fraud, commodities market manipulation and wire fraud. According to accounts of social media users present on Feb. 2, Mango Markets user Avraham Eisenberg’s legal team waived his right to bail…
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The number of crypto-related enforcement actions in the United States grew notably in 2022, according to a survey released by blockchain risk monitoring firm Solidus Labs. Both federal and state regulators broke records for enforcement actions. There were 58 actions carried out by the four main U.S. federal agencies engaged in crypto enforcement in 2022.…
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On Feb. 1 and Feb 2. Bitcoin’s (BTC) price surpassed even the most bullish price projections after the U.S. Federal Reserve (FED) announced plans to raise interest rates by 25 basis points. Even though FED chair Jerome Powell told investors not to wait for interest rate cuts in 2023, during his press conference he did…
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Finnish company Membrane Finance has released a fully-reserved stablecoin backed by the euro, according to a Feb. 2 blog post from the company. The company is licensed by the Finnish Financial Supervisory Authority (Fin-FSA) and claims that the new ”EUROe” coin is “the first and only EU-regulated crypto stablecoin.” Membrane Finance is excited to announce…
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Fumio Kishida, the Prime Minister of Japan, has come out in support of blockchain as a potential solution for technological issues facing the country. In response to questioning from Liberal Democratic Party member Masaaki Taira before the Budget Committee of Japan’s House of Representatives on Feb. 1, Kishida said there were “various possibilities for using…
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