The State Bank of Pakistan signed in new laws for Electronic Money Institutions — non-bank entities offering digital payment instruments — to ensure the timely issuance of a CBDC in the next three years. Regulators worldwide see central bank digital currencies (CBDCs) as a way to enhance fiat capabilities by inheriting the financial prowess of...Continue Reading

Multinational bank Standard Chartered considers potential downside for Bitcoin in 2023 as the cryptocurrency ecosystem weathers the collapse of FTX. The value of Bitcoin (BTC) is being touted to drop as low as $5,000 in 2023 according to Standard’s Chartered global research head and chief strategist. As initially reported by Bloomberg, a note to investors...Continue Reading

The two-year-long battle between SEC and Ripple is approaching the end, with Ripple filing its final submission in its case against the US regulator on Dec. 2. The most talked about crypto lawsuit involving the United States Securities and Exchange Commission (SEC) and Ripple is approaching its conclusion after a two-year-long battle. On Dec. 2...Continue Reading

The court said NFTs are “unique digital assets” that “belong to the category of virtual property” in a case where it had to confirm the legal attributes of NFTs. A Chinese court in the city of Hangzhou has said nonfungible token (NFT) collections are online virtual property that should be protected under Chinese law.  A...Continue Reading

The Australian crypto exchange said while it had no exposure to FTX, it was “not immune” to its fallout. Australian-based crypto exchange Swyftx has laid off a total of 90 staff members, which it said was in preparation for a “worst-case scenario” caused by the fallout of FTX and a potential fall in global trading...Continue Reading

The self-custody platform was acquired by Celsius in 2021 for $115 million and is now set to change hands, pending approvals. Mike Novogratz-led investment firm Galaxy Digital Holdings has won the bidding to buy GK8, an institutional digital asset self-custody platform owned by Celsius Network — pending court approvals and certain closing conditions. According to a...Continue Reading

With the record mint day for Reddit avatar NFTs, there are now around 4.4 million Reddit NFTs in circulation. Reddit’ NFT minting hits new high Reddit’s nonfungible token (NFT) collection hit another milestone on Dec. 3 with a record 255,000 of its “avatars” minted in the one day. The new minting record beat the previous...Continue Reading

An unverified photo purportedly shows Caroline Ellison making an order at a New York cafe, leading to questions as to why she is back on US soil. A recent photo of what appears to be former Alameda Research CEO Caroline Ellison in a Manhattan coffee shop in New York has been making the rounds on...Continue Reading

One observer suggested Bankman-Fried may be reluctant to discuss FTX due to the legal implication of lying under oath to the U.S. Congress. Former CEO of FTX, Sam Bankman-Fried, has signaled he’s unwilling to testify before the United States Congress until he’s “finished learning and reviewing what happened.” Bankman-Fried was responding to a Dec. 2...Continue Reading

The Ethereum co-founder has recommended weary crypto investors to shift away from price watching and focus on the tech instead. Ethereum co-founder Vitalik Buterin has shared some sage advice for traders feeling the blues of the crypto bear market: Focus on the tech rather than the price. The Ethereum co-founder made the recommendation in response...Continue Reading