Both facing sanctions, Russia and Cuba are looking into alternative options for cross-border payments, including cryptocurrencies, a Kremlin advisor has unveiled in Havana. Moscow is already developing a mechanism for crypto settlements to circumvent financial restrictions imposed over its invasion of Ukraine. Crypto and Ruble Considered for Payments in Trade Between Russia and Cuba The
Bitcoin News
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says that he would again back Sam Bankman-Fried (SBF), the former CEO of the collapsed crypto exchange FTX. “You can’t be serious,” many people told O’Leary, alleging that SBF is a fraud who stole billions from FTX customers. Kevin O’Leary Ignores Evidence of Fraud, Says He’d Back
On Nov. 16, 2022, at Bitcoin block height 763,474, someone transferred 6,522 bitcoin worth roughly $107 million after the coins sat idle for more than five years. While bitcoin’s value is 75% lower than it was a year ago, so-called sleeping bitcoins have been waking up amid the recent crypto market capitulation. While Bitcoin’s Price
As the world’s first nation to adopt Bitcoin (BTC) as a legal tender in September 2021, El Salvador is going back to its BTC buying days after a pause for months amid bearish market conditions. El Salvador President Nayib Bukele announced on Nov.16 that the Central American nation will start purchasing BTC on a daily
Australia’s securities regulator has suspended the license of the Australian unit of the bankrupt crypto exchange FTX until mid-May. According to an issued statement, the platform will be allowed to provide limited financial services until Dec. 19 in order to terminate existing derivatives. FTX Australia Sees License Suspended After Accepting Voluntary Administration The Australian Securities
Investment firm Paradigm is still optimistic about crypto’s potential following the collapse of FTX. “The blowup of FTX has caused some to question crypto’s value. But the issues at FTX are precisely ones that decentralized finance [defi] can solve through increased transparency and security,” the firm’s co-founder emphasized. Paradigm on FTX Collapse, Defi Paradigm co-founder
Brian Simms, the court-appointed provisional liquidator overseeing the bankruptcy proceedings of FTX Digital Markets in The Bahamas, has called into question the validity of a Chapter 11 bankruptcy filing by subsidiary FTX Trading and 134 other affiliates in a Delaware court on Nov. 14. In the Nov. 15 document, Simms filed for Chapter 15 Bankruptcy
Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, has commented on the collapse of crypto exchange FTX, stating that “it is partly fraud and party delusion.” Noting that “the country did not need a currency that’s good for kidnappers,” he stressed: “I basically like the existence of the Fed … I hate bitcoin
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says bitcoin is not the problem following the collapse of cryptocurrency exchange FTX. Kiyosaki believes that former FTX CEO Sam Bankman-Fried is more like the Bernie Madoff of crypto than the Warren Buffett of crypto. Robert Kiyosaki on Bitcoin, FTX Blowup, Bernie
The U.S. Securities and Exchange Commission (SEC) says its Enforcement Division “remains focused on the rapidly evolving crypto asset securities space.” The securities regulator filed 760 enforcement actions in total this fiscal year. SEC Chairman Gary Gensler commented: “I continue to be impressed with our Division of Enforcement.” SEC Focused on Enforcement The U.S. Securities
The U.S. House Financial Services Committee is planning to investigate the FTX collapse, according to a joint press release published by the committee’s chair Maxine Waters and representative Patrick McHenry. Furthermore, a congressional hearing is scheduled to take place in December, according to the joint statement. Bipartisan Congressional Hearing to Be Held in December Over
Following the collapse of FTX, law enforcement officials are still dealing with the Terra blockchain fiasco. A new report claims Terraform Labs (TFL) co-founder Daniel Shin’s company Chai Corporation was raided by South Korean investigators. Terraform Labs Co-Founder’s Company Chai Reportedly Raided by South Korean Law Enforcement The Terra blockchain that collapsed last May was
Bitcoin (BTC) fell to intraday lows after the Nov. 16 Wall Street open as the FTX scandal appeared to claim another victim. Genesis Trading liquidity “exceeded” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading around $16,400 at the time of writing. Downside had entered again for the pair amid news that Genesis Global
Bitcoin cash rose to a one-week high in today’s session, despite crypto markets mostly trading lower. The global cryptocurrency market cap is down by 2.45% as of writing, which comes as traders reacted to rising geopolitical tensions. Polkadot was a notable token to slip, as prices collided with a key support point. Bitcoin Cash (BCH)
Smart contract platform tokens and decentralized finance (defi) protocols have taken a beating since the FTX collapse last week. The market capitalization of all the smart contract platform tokens in existence lost more than $22 billion during the last 36 days. The total value locked (TVL) in defi protocols has dropped to $43 billion, the
If FTX is sparking new Bitcoin (BTC) bear market lows, BTC price action has further to fall to match Mt. Gox. Data from on-chain analytics firm Glassnode confirms that the “Mt. Gox bear market” almost a decade ago still beats the 2022 lows. FTX vs. Mt. Gox: Same, same but different With the fallout from
In the South Pacific, the island nation of Tuvalu decided to turn to Web3 technology in order to make sure its culture and society are preserved in the future. On Nov. 15 the country’s foreign minister, Simon Kofe, told the COP27 climate summit that it is looking for alternative ways to protect the county’s heritage
The Turkish agency responsible for tackling money-related crime has initiated an investigation against troubled crypto exchange FTX. Days after the trading platform filed for bankruptcy in the United States, the department revealed it has been tracking its activities in Turkey. Turkish Financial Watchdog Sets Out to Dig Deeper Into FTX Case Turkey’s Financial Crimes Investigation
Billionaire venture capitalist and serial blockchain investor Tim Draper is not giving up on his near-term Bitcoin (BTC) prediction despite the recent issues in the cryptocurrency industry. Draper continues to stick with his optimistic prediction that Bitcoin will hit $250,000 in 2023 despite the ongoing crypto crisis fueled by FTX. “No change in the price
During the last five days, non-fungible tokens (NFTs) stemming from the Cryptopunks NFT collection have surpassed Bored Ape Yacht Club (BAYC) NFTs in terms of floor value. Statistics over the last ten days show the floor value of Cryptopunks NFTs remained above the 60 ether zone, while BAYC-based NFT floor values dropped below the 60