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Did Magical Thinking Born of Financial Crisis Fuel Rise of Crypto – Was it Actually Realistic Thinking?
18.1.2023
Cryptocurrencies are "a manifestation of a magical thinking" born out of a financial crisis, said a finance professor. But there could be something very real behind it. Though not intentionally, the professor may have made a case for the 'financial crisis' being ever-present as cracks in the system...
Georgia Prepares to Launch Digital Lari Pilot in First Half of 2023
17.1.2023
The central bank of Georgia intends to publish a document detailing the concept of a national digital currency in the coming months. Other participating parties will use it to finalize their proposals for the pilot which the monetary authority plans to initiate in the first half of the year....
Nexo sues Cayman Islands financial regulator over VASP license
16.1.2023
The crypto lender claimed that the Cayman Islands Monetary Authority had placed “too much weight” on regulators' enforcement actions in its decision to deny registration
Defunct Crypto Hedge Fund Three Arrows Capital Founders Seek $25 Million to Start New Exchange Amid Scrutiny
16.1.2023
According to reports, the founders of the now-defunct crypto hedge fund Three Arrows Capital (3AC) are seeking to raise $25 million from investors to start a new crypto exchange called GTX. This solicitation for new capital comes after 3AC co-founders Su Zhu and Kyle Davies were subpoenaed over...
CBDCs not worth the costs and risks, says former BoE advisor
16.1.2023
Tony Yates, the former senior advisor of the Bank of England, argues that CBDCs are not worth the headache
Korean Court Orders Crypto Exchange to Pay Customers Suffering From Service Outage
16.1.2023
South Korea’s supreme court has upheld the ruling for Bithumb, the country’s largest cryptocurrency exchange, to pay damages to more than a hundred customers who filed a lawsuit claiming they suffered financial losses resulting from the exchange’s service outage. Bithumb...
Scaramucci to invest in crypto firm founded by former FTX US boss
16.1.2023
It is understood the crypto software company will enable crypto traders to create algorithmic-based strategies to access different markets
Poland’s Consumer Protection Agency Opens Case Against Cryptocurrency Exchange
15.1.2023
The body ensuring that consumer rights are respected in Poland has initiated proceedings against a crypto exchange falsely claiming to be Polish. The trading platform also misled customers that it was operating with the regulatory approval of the financial authorities in the country. Belize-based...
Report: Nigeria Debt Management Office’s $48.8 Billion Debt Contravenes the Law Says Expert
15.1.2023
The Nigerian Debt Management Office (DMO) contravened the law when its borrowings exceeded the set limit which is equivalent to $2.2 billion, Adetilewa Adebajo, an international financial markets expert has reportedly said. Adebajo also suggested that the Central Bank of Nigeria governor Godwin...
US Lawmakers Create ‘Congress’ First Ever’ Digital Assets Subcommittee
15.1.2023
U.S. Congress’ “first ever” subcommittee on digital assets has been created as part of the House Financial Services Committee. “We want to create a regulatory legal framework for digital assets … that makes America a leader from an innovation point of view but also protects...
Treasury Secretary Yellen Urges Swift Action to Increase Spending Limit, Avert Default on US Obligations
14.1.2023
Janet Yellen, the U.S. secretary of the Treasury, sent a letter to Congress on Friday urging lawmakers to increase the spending limit. Yellen stressed that the country would reach its statutory debt limit on Jan. 19, 2023. She warned that “failure to meet the government’s obligations...
Nexo Bitcoin Withdrawals Surge Following Raid of Bulgarian Offices
13.1.2023
After the offices of crypto lender Nexo were raided in Bulgaria, the digital currency lending platform experienced a significant amount of withdrawals starting Jan. 12, 2023. An archived snapshot of Nexo’s real-time attestation shows that the company held 133,263 bitcoin on that day. As...
Bitcoin price not more important than financial independence: Trezor CEO
13.1.2023
Amid Bitcoin briefly returning to above $19,000, Trezor's new CEO Matěj Žák said there’s something more important than its price
Binance Now Authorized in 7 EU Countries — Sweden Becomes Latest Member State to Give Approval
13.1.2023
Crypto exchange Binance is now legal to operate in seven European countries following the latest approval by Sweden’s financial regulator. Overall, Binance has been approved to operate in 15 jurisdictions, including seven EU countries. Binance Approved to Operate in 7 EU Countries...
Major media outlets demand identities of SBF's $250M bond guarantors
13.1.2023
The media’s lawyers argued the public’s right to know Bankman-Fried's sureties outweighed their privacy and safety rights, but Bankman-Fried’s lawyers strongly disagreed
Germany’s Financial Watchdog Warns of ‘Godfather’ Malware Attacks on Crypto Apps
12.1.2023
The agency overseeing the financial sector in Germany has issued a warning about the ‘Godfather’ malware attacking banking and crypto applications. Hundreds of these platforms have been targeted, the regulator noted, including those operating in the Bundesrepublik. Financial Authorities Advise...
Gary Gensler finds new audience for his crypto skepticism: The US Army
12.1.2023
The U.S. Securities and Exchange Commission chair called crypto "the Wild West" and urged troops not to “get caught up in the FOMO.”
The Fed Will Keep Focusing on Crypto — Fed Governor Says ‘We Do Not Want to Hinder Innovation’
12.1.2023
Federal Reserve Governor Michelle Bowman says while “cryptocurrency activities can pose significant risks,” the Fed does not want to “hinder innovation.” She added: “By inhibiting innovation, we could be pushing growth in this space into the non-bank sector, leading...
World Bank Report Forecasts Bleak Global Economic Outlook, Citing ‘Adverse Developments’ and ‘Long-Lasting Slowdown’
11.1.2023
On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 growth forecasts have been cut across the board, with the global economy projected to grow by 1.7%...
HedgeUp and Hedera break the mold in the financial industry
11.1.2023
The investment industry is one of the most dynamic and fast-paced industries in the world. New products, technologies, and services are constantly emerging to help investors reach their financial goals faster and more efficiently than ever before. Two relatively new players on the scene –...