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Custodian Prime Trust’s Payments Subsidiary Banq Files for Chapter 11 Bankruptcy Protection
15.6.2023
Shortly after the custodian Bitgo announced its acquisition of the company Prime Trust, its payments subsidiary, a firm called Banq, filed for Chapter 11 bankruptcy protection in the United States. According to court documents, the filing reveals that Banq listed approximately $17.725 million...
Today in Crypto: Fed Keeps Rate Unchanged, Strike Goes to Mexico, Binance and SEC to Negotiate on Asset Freeze, Arbitrage Bot Profits $3 + More News
14.6.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Fed Keeps Rate Unchanged, Strike Goes to Mexico, Binance and SEC to Negotiate on Asset Freeze, Arbitrage...
Judge Postpones Asset Freeze as Binance US and SEC Agree to Work on Deal
14.6.2023
A judge in Washington decided to give Binance US and the Securities and Exchange Commission (SEC) time to work out a deal to avoid the freezing of the exchange’s assets. The two sides are close to an agreement that will protect customer funds without paralyzing the crypto trading platform. Crypto...
Binance.US and SEC Working on a Deal to Avoid Total Asset Freeze – Here's What You Need to Know
14.6.2023
Binance.US and the US Securities and Exchange Commission are trying to reach a solution in order to avoid a total asset freeze.
According to a report from Bloomberg, US District Judge Amy Berman Jackson announced Tuesday that the two sides “aren’t that far apart” on ways to protect billions...
Binance.US, SEC Ordered to Start Negotiations Wednesday Amid Asset Freeze Tussle
14.6.2023
A U.S. federal judge on Tuesday rejected SEC's request to order a freeze on Binance.US' assets – provided the parties could agree on limits
EU’s new crypto law: How MiCA can make Europe a digital asset hub
14.6.2023
MiCA was recently signed into law and published in the EU’s official journal, starting the countdown for implementing the first-of-its-kind crypto legislation in 27 member states
Prime Trust subsidiary Banq files for bankruptcy amid BitGo acquisition deal
14.6.2023
Prime Trust payment subsidiary Banq files for bankruptcy, citing “unauthorized’ asset transfers to Fortress Group
House Financial Services Chair Wants To Vote on Digital Asset Bill Next Month
14.6.2023
US House Financial Services Committee Chair Patrick T. McHenry plans to hold a vote on a bill that would regulate digital assets by mid July.
The draft legislation in question, the Digital Asset Market Structure Discussion Draft, would classify cryptocurrencies as a security or a commodity...
SEC and Binance.US to negotiate deal avoiding total asset freeze
14.6.2023
U.S. District Judge Amy Berman Jackson has ordered the two entities to work towards a compromise
U.S. Judge Rebuffs SEC Request for Binance.US Asset Freeze for Now
13.6.2023
A federal judge heard arguments on the SEC's motion for a temporary restraining order in court on Tuesday
Asset Freeze to Halt Binance US Operations, Exchange Says, Seeks Rejection of SEC Request
13.6.2023
Crypto exchange Binance US has urged a federal judge to reject a request by the U.S. securities regulator to freeze its assets. The company won’t be able to maintain the trading platform or pay employees and vendors, defense attorneys said in a court filing. ‘No Need for the Draconian Relief Sought...
eToro halts ALGO, MANA, MATIC and DASH purchases for US customers
13.6.2023
The firm said it remains a “supporter” of the crypto sector and suggested that the move was purely to avoid any potential regulatory non-compliance
Crypto fund outflows reach $417M over 8 weeks as investor caution persists
12.6.2023
According to CoinShares, digital asset investment product outflows amounted to $88 million last week
AI Chatbots Weigh In: Is Bitcoin Poised to Become a Global Reserve Currency?
10.6.2023
While some people believe that bitcoin (BTC) could become a global reserve asset, others are skeptical. Rather than relying on human subjective valuations and biases, we conducted an experiment to let artificial intelligence (AI) determine whether bitcoin could become a global reserve currency....
Digital Asset Trust Firm Bitgo Sets Sights on Prime Trust Acquisition
9.6.2023
In a recent development, Bitgo, the digital asset trust firm, disclosed that it has penned a letter of intent to acquire Prime Trust, a crypto custodian based in Nevada. Should the acquisition proceed, Prime Trust would become an integral part of Bitgo’s network of regulated trust companies....
Real-World Asset protocols outperform DeFi blue-chips due to tokenization wave
9.6.2023
Traditional finance companies are boosting their engagement with Ethereum-based real-world asset protocols, resulting in RWAs outperforming DeFi blue chips
BitGo Announces Landmark Deal to Acquire Crypto Custodian Prime Trust
9.6.2023
BitGo Holdings Inc., the renowned digital asset trust and security company, has revealed plans to acquire 100% of the equity of Prime Core Technologies, Inc., the parent company of Prime Trust.
The development marks a watershed moment for the Prime Trust clients, positioning them to enjoy business...
Biggest Bank in Australia to Limit Transfers to Crypto Exchanges
9.6.2023
Commonwealth Bank of Australia plans to restrict payments to crypto trading platforms, citing the threat of scams. The measure would deal another blow to digital asset exchanges operating in the country where it has been getting harder to deposit funds for cryptocurrency operations. Crypto Traders...
SEC Chair Gensler Rebuts Claims Crypto Exchanges Lacked ‘Fair Notice,’ Affirms ‘Majority’ of Tokens Are Securities
9.6.2023
U.S. Securities and Exchange Commission Chair Gary Gensler discussed crypto exchanges and digital currencies at the Piper Sandler Global Exchange & Fintech Conference. He insisted that there is “nothing about the crypto securities markets that suggests that investors and issuers...
Asset Manager Schroders in Search of Crypto Custodian for Digital Asset Push
8.6.2023
Schroders Plc, an asset management firm with over $900 billion in assets under management, is venturing into crypto and is actively searching for a third-party custodian to support its digital asset expansion.
According to a recent Bloomberg report that cited “people with knowledge of the matter,”...