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Binance's SWIFT banking partner set to ban USD transfers below $100K
22.1.2023
Binance stressed that credit and debit card payments will continue to be accepted and that non-USD bank transfers would still be processed through the SWIFT payment system
Former FTX US President lashes out at 'insecure' SBF in 49-part Twitter thread rant
15.1.2023
Harrison said Bankman-Fried threatened to fire him on the spot and would destroy his professional reputation if he continued to confront the former FTX CEO
Chinese Billionaire Jack Ma Agrees to Cede Control of Fintech Giant Ant Group
12.1.2023
Chinese billionaire Jack Ma recently agreed to give up control of Ant Group as part of changes to the fintech’s corporate structure, which will supposedly not have an impact on “the economic interests of any shareholders of Ant Group and their beneficiaries.” Once the process...
DeFi Protocol Ondo Finance Sets Up Tokenized Corporate Bonds With Over 8% Yield on Stablecoins
11.1.2023
The on-chain funds are directly invested in exchange-traded funds managed by BlackRock and PIMCO
Microstrategy Buys More Bitcoin — Company’s Crypto Holdings Grow to 132,500 BTC
29.12.2022
Microstrategy is now holding approximately 132,500 bitcoin following its most recent purchases. This year, the world’s largest cryptocurrency has emerged as “the institutional-grade digital asset,” said Microstrategy founder Michael Saylor. Microstrategy Acquires More Bitcoin...
Nigerian Central Bank Increases Cash Withdrawal Limits After Receiving ‘Feedback From Stakeholders’
23.12.2022
Barely a month after announcing the restricting of cash withdrawals to under $50 per week, the Central Bank of Nigeria said on Dec. 21 that individuals will be able to withdraw an equivalent of $1,120 per week starting on Jan. 9, 2023. The central bank said individuals and corporate organizations...
Corporate America has finally taken notice of Web3: US trademark lawyer
16.12.2022
Trademark applications filed this year covered various disparate sectors
Japan to Exempt Token Issuers From Corporate Tax on Paper Gains
16.12.2022
Project founders will no longer be subject to hefty taxes which forced them abroad from next April onwards
Japan set to ease 30% crypto tax on paper profits for token issuers
16.12.2022
As it stands, Japanese crypto issuers are required to pay a set 30% corporate tax rate on their holdings, even if they haven’t realized a profit through a sale
FTX was an 'utter failure of corporate controls at every level of an organization', says CEO
12.12.2022
Countering some of SBF's claims, John Ray said that “FTX US was not operated independently of FTX.com” and a Chapter 11 filing was necessary to avoid a bank run
Document Claims Alameda CEO Caroline Ellison’s FTX Margin Position Was Negative $1.3B in May 2022
5.12.2022
In a number of recent interviews, the former co-founder of FTX, Sam Bankman-Fried (SBF), explained that he “wasn’t running Alameda” and he “didn’t know the size of their position.” In a more recent discussion with The Block’s Frank Chaparro,...
U.S. Trustee: FTX was the 'fastest' corporate failure in American history, calls for probe
2.12.2022
The Department of Justice's U.S. Trustee overseeing FTX’s bankruptcy case has moved for the court to appoint an independent examiner
Bankruptcy Lawyers Say FTX Was Operated by ‘Inexperienced and Unsophisticated Individuals’
23.11.2022
On Tuesday, the attorneys representing FTX told the court that a “substantial amount of assets have either been stolen or are missing” and further stressed to the bankruptcy court that FTX executives left the lawyers James Bromley and Sullivan Cromwell with limited information. Bromley further...
'A Complete Failure of Corporate Controls': What Investors and Accountants Missed in FTX’s Audits
18.11.2022
An expert review of FTX’s audited financial statements reveals a series of red flag related-party transactions that should have led to more scrutiny of the company’s operations
New CEO Says FTX Is the Worst Case of Corporate Failure With Untrustworthy Financial Data and Unacceptable Practices
18.11.2022
The new CEO of FTX, appointed after the crypto exchange filed for bankruptcy, has blasted the company under former CEO Sam Bankman-Fried. “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred...
What's the Matter With Delaware? How Joe Biden's Home State Became a Global Tax Avoidance Hub
15.11.2022
Delaware is helping companies cheat the other 49 states of tax revenues – and that’s just the tip of the iceberg
US Treasury Secretary and Indian Finance Minister Discuss Crypto Regulation
13.11.2022
U.S. Treasury Secretary Janet Yellen and Indian Finance Minister Nirmala Sitharaman discussed crypto regulation during the ninth India-U.S. Economic and Financial Partnership meeting. They stressed the importance of international cooperation and setting high regulatory standards globally. US...
From a $32 Billion Valuation to Financial Troubles: An In-Depth Look at the Rise and Fall of FTX
10.11.2022
During the last two days, the cryptocurrency community has been dealing with the FTX fiasco after Binance revealed that it was backing out of the deal to acquire the rival exchange. Between Nov. 8-9, the crypto economy shed more than $230 billion in value as FTX’s troubles shook investors....
Stablecoin Issuer MakerDAO to Invest $500M in US Treasurys, Corporate Bonds
6.10.2022
The transition was initiated by DeFi asset advisor Monetalis and lead by digital asset bank Sygnum
Crypto is Thriving Through Offshore Corporate Structures
1.10.2022
Marc Piano, Senior Associate at global offshore law firm Harneys, is a member of the Investment Funds, Corporate, and Banking & Finance teams in the Cayman Islands office. Phil Graham, Partner at Harneys, is global head of the Investment Funds and Regulatory groups and head of the transactional...