The fallout from the banking crisis earlier this year continues as the Basel Committee on Banking Supervision considers requiring banks to disclose their crypto asset holdings. The committee, which operates under the aegis of the Bank for International Settlements, identified holding crypto as one of the factors that led to the demise of several banks
Month: October 2023
Our weekly roundup of news from East Asia curates the industry’s most important developments. 3AC creditors strike back On Sept. 29, Su Zhu, co-founder of defunct Singaporean hedge fund Three Arrows Capital (3AC) — which prior to its collapse last June managed more than $10 billion in digital assets — was apprehended at Singapore’s Changi
Bitcoin (BTC) eased volatility into Oct. 6 as BTC price downside preparations returned. BTC/USD 1-hour chart. Source: TradingView Bitcoin keeps liquidations limited amid long, sh “squeeze” Data from Cointelegraph Markets Pro and TradingView covered a flatter 24 hours for BTC/USD after a failed retest of $28,000. After lingering in a narrow range around 1.5% lower,
A single scammer has reportedly managed to steal around $385,000 worth of Ether (ETH) in less than 24 hours amid a scourge of SIM-swap hacks seemingly targeting Friend.tech users. On Oct. 5, blockchain sleuth ZachXBT reported the same scammer had pilfered 234 ETH over the past 24 hours by SIM-swapping four different Friend.tech users. The
The Canadian Securities Administrators (CSA) has provided guidance to exchanges and cryptocurrency issuers on its interim approach to what it calls value-referenced crypto assets, with a particular focus on stablecoins. On Oct. 5, the umbrella organization of Canada’s provincial and territorial securities regulators published a clarification saying it may allow trading of certain cryptocurrencies that
Bitcoin (BTC) rejected at $28,000 after the Oct. 5 Wall Street open as a return toward six-week highs failed. BTC/USD 1-hour chart. Source: TradingView Bitcoin sees swift comedown after new $28,000 retest Data from Cointelegraph Markets Pro and TradingView followed BTC price action as bulls attempted to match levels from earlier in the week. This
Decentralized social media (DeSo) application Stars Arena has caused a major uptick in activity on Avalanche’s C-chain network. As network activity increased, so did the price of the network’s native AVAX (AVAX) token, which has gained more than 8% in the last 24 hours. Launched in late September, the Friend.tech-inspired Stars Arena has seen the
The StarsArena Web3 app on Avalanche has lost some of its funds due to a malicious attack, according to social media reports on October 5. StarsArena user Lilitch.eth discovered the exploit and announced it on X, formerly known as Twitter. Lilitch.eth claimed over $1 million was lost in the attack. The StarsArena team confirmed the
Adam Yedidia, Sam Bankman-Fried’s college roommate and an early employee of FTX, continued his testimony on Oct. 5, the second day of former FTX CEO Bankman-Fried’s trial in New York. Yedidia was testifying for the prosecution with immunity. Under examination by Assistant U.S. Attorney Danielle Sassoon, Yedidia told the court that he started as a
On October 3, Judge Analisa Torres denied the US Securities and Commission’s (SEC) motion for an interlocutory appeal in its ongoing legal battle against Ripple. As part of her order, she raised the possibility of a settlement between both parties before the case goes to trial on April 23, 2024. Ripple And SEC Could Settle
On Oct. 2, the price of Bitcoin (BTC) saw a 5.5% intraday increase to $28,600, but the largest cryptocurrency by market capitalization lost momentum as the highly anticipated launch of Ether (ETH) futures exchange-traded funds (ETFs) failed to generate significant trading volumes. While the recent rally into the upper end of the current price range
The next crypto bull market is likely to kick off in Q2 2024, when the Bitcoin (BTC) halving is set to take place, says macro investor and Real Vision CEO Raoul Pal. He is convinced that despite the hype surrounding the halving, macro factors will play the leading role in sparking the next uptrend. According
Sam “SBF” Bankman-Fried’s two multimillion-dollar luxury jets are now subject to forfeiture, according to a filing from the United States Department of Justice (DOJ) on Oct. 4. The document states the possibility of forfeiture comes as a result of the “offenses described in Counts One through Four and Seven of Indictment 22 Cr. 673 (LAK),”
If there’s ever been an artist suited for the digital renaissance of putting art on the blockchain, it would be Matt Kane — a traditional artist who transitioned into digital art by writing his own software and pushing boundaries impossible in the physical art world. Kane is most known for his collection “Gazers,” which launched
The integration of conventional payment cards with cryptocurrency exchanges is playing a crucial role in driving the adoption of digital assets, according to a Visa executive. Speaking to Cointelegraph reporter Ezra Reguerra during a panel at the Blockchain Economy Dubai Summit, Visa’s vice president, head of innovation and design, Akshay Chopra, highlighted the role that
The crypto wallet address linked to the FTX exploiter moved roughly $36.8 million worth of Ether (ETH) in the last 24 hours amid the ongoing court trials of the defunct crypto exchange’s ex-CEO, Sam Bankman-Fried (SBF). Accounts linked to FTX and FTX.US were drained of $600 million on Nov. 11, 2022, hours after the crypto exchange