DeFi was top of the agenda at the CFTC’s tech committee meeting, with crypto execs giving explanations and discussing the space with the regulator. The United States commodities regulator has gotten a crash course on decentralized finance (DeFi) today, with crypto executives briefing the regulator on key issues affecting the space, including exploits, decentralization and...Continue Reading

Brian Armstrong made the interesting analogy when asked to explain the firm’s recent “Wells Notice” in “NFL terms.” Brian Armstrong, the CEO and co-founder of crypto exchange Coinbase has compared the Securities and Exchange Commission (SEC) to “soccer refs” in a game of pickleball, criticizing U.S. regulators for not being able to “agree on the...Continue Reading

The CEO of Independent Reserve says Hong Kong’s “friendly” licensing regime makes it a worthy destination to set up shop, but there are other factors to consider. Australia-based crypto exchange Independent Reserve is looking at opportunities to set up shop in Hong Kong, as the city continues efforts to become a cryptocurrency hub.  Set to...Continue Reading

While the funds represent a small portion of FTX’s overall asset shortfall, the settlement means the firms can avoid a costly legal battle. Bankrupt crypto exchange FTX is seeking to recover $460 million of allegedly misappropriated customer funds from venture capital (VC) firm Modulo Capital, which received a sizeable investment from Alameda Research last year....Continue Reading

In a post-FOMC meeting on March 22, the chairman of the Federal Reserve said his “only interest is that we identify what went wrong here.” United States Federal Reserve chairman Jerome Powell has conceded that his regulator was blindsided by the sudden collapse of Silicon Valley Bank (SVB), despite it being under their watch. In...Continue Reading

When integrated into the economy, a CBDC or stablecoin would compete with bank deposits to the public benefit, at least until a financial crisis. Fully integrating a stablecoin or central bank digital currency (CBDC) into the economy would destabilize banks but improve household welfare, a study released by a United States Treasury division has claimed....Continue Reading

According to the Bitcoin custodian, utilizing the USDC stablecoin will allow members to deposit and withdraw funds without fees. Bitcoin custodian and licensed private bank Xapo Bank has partnered with financial technology company Circle to integrate USD Coin (USDC) payment rails as an alternative to SWIFT. Payment rails refer to the infrastructure and technology used to facilitate the...Continue Reading

The Israel-based firm raised capital for the first time since 2018, after failing to go public in 2022 through a SPAC merger. Trading platform eToro has secured $250 million in funding at a $3.5 billion valuation, the company announced on March 21. The Israel-based firm raised capital for the first time since 2018 after failing...Continue Reading

The crypto exchange claimed that none of its listed assets were considered securities, and any potential targeting of its wallet was based on a “misunderstanding” by United States Securities and Exchange Commission officials. Crypto exchange Coinbase said it has received a Wells notice from the United States Securities and Exchange Commission recommending the regulator take...Continue Reading