BitFinex Can Hold On to Documents About Alleged $850 Million Cover-up

The Appellate Division of the New York Supreme Court has ruled that Bitfinex can hold on to documents pertaining to the alleged cover-up of an $850 million loss on the Bitfinex trading platform. Ongoing case In a Sept. 24 court order, appellate court justices David Friedman, Peter Tom, Troy Webber, Ellen Gesmer and Jeffrey Oing moved to stop a previous ruling by New York Supreme Court Judge Joel Cohen that required BitFinex to produce documents and information related to the $850 million loss on the exchange. As Cointelegraph reported in…

SEC Begins Proceedings on Wilshire Phoenix Bitcoin Exchange-Traded Fund

The United States Securities and Exchange Commission (SEC) has initiated proceedings regarding the Wilshire Phoenix Bitcoin (BTC) exchange-traded fund (ETF) proposal. According to a Sept. 24 public filing, the SEC started proceedings to determine whether to approve or disapprove the proposed rule change, which would allow NYSE Arca to list and trade shares of Wilshire Phoenix’s Bitcoin and Treasury Investment Trust. Public comments In Tuesday’s filing, the SEC notes that it had invited the public to share its comments, which were due 21 days from when the order was published in…

Facebook’s Libra Wants to Hit the Market in Early 2020

It has been a hugely eventful year in the crypto sphere, and perhaps one of the most important developments has been the announcement of Facebook’s Libra. However, as soon as it was announced that it was going to be launched next year, plenty of influential regulators expressed their doubts about the cryptocurrency straightaway. Important Progress They are still doing so, and in a new development, it has emerged that Facebook (NASDAQ:FB) is going to go ahead with the launch of Libra next year as planned notwithstanding any misgivings from regulators. Regulators have…

Facebook’s Libra Wants to Hit the Market in Early 2020

It has been a hugely eventful year in the crypto sphere, and perhaps one of the most important developments has been the announcement of Facebook’s Libra. However, as soon as it was announced that it was going to be launched next year, plenty of influential regulators expressed their doubts about the cryptocurrency straightaway. Important Progress They are still doing so, and in a new development, it has emerged that Facebook (NASDAQ:FB) is going to go ahead with the launch of Libra next year as planned notwithstanding any misgivings from regulators. Regulators have…

Owner of Fledgling Crypto Exchange to Reward Shareholders With Bitcoin

Coincheck’s parent company Monex Group has voted to grant crypto to shareholders as a mid-term benefit in addition to regular redeemable points. In a statement, the Japanese online brokerage firm indicated that for fiscal year 2019, shareholders will receive bitcoin as a mid-term benefit. Monex Group will reward its shareholders with bitcoin. | Source: monexgroup.jp This will apply to shareholders who are holding the company’s stock as at the end of this month. To benefit, shareholders must have an account with Coincheck and sign up for the program by the…

Facebook’s Project Gets Challenged as ‘EuroCoin’ Looms

The ripples of the Libra effect are beginning to lap against the shores of Europe, with French Finance Minister Bruno Le Maire suggesting that Europe should throw its hat into the ring and launch its own digital currency. Le Maire’s announcement comes at a time when EU politicians are becoming increasingly vocal about Libra and digital currencies in general.  Speaking at a meeting of EU finance ministers in Helsinki, Le Maire told journalists that he would discuss the feasibility of a European public digital currency with his counterparts in October.…

Facebook’s Project Getts Challenged as ‘Eurocoin’ Looms

The ripples of the Libra effect are beginning to lap against the shores of Europe, with French Finance Minister Bruno Le Maire suggesting that Europe should throw its hat into the ring and launch its own digital currency. Le Maire’s announcement comes at a time when EU politicians are becoming increasingly vocal about Libra and digital currencies in general.  Speaking at a meeting of EU finance ministers in Helsinki, Le Maire told journalists that he would discuss the feasibility of a European public digital currency with his counterparts in October.…

Insurance Broker Marsh Pilots Blockchain-Based Digital Placement Platform

Leading insurance broking and risk management firm Marsh has piloted a blockchain-based digital placement platform. Per a Sept. 24 press release, the Risk Exchange platform aims to ensure a more transparent and secure digital placement and enables users to receive real-time information and feedback on the placement and binding process. Insurance placement is the purchase of an insurance product or the renewal of an existing product. First participants in the pilot As part of the pilot, commodity chemical company Dow Inc. and domestic appliance manufacturer SharkNinja will bind United States…

Major Banks Santander, MUFG Lead $14M Investment in Securitize

Securitize, a Coinbase-backed token issuance protocol, raised $14 million in a funding round led by the venture capital (VC) wings of major commercial banks.  The San Francisco-based startup has conducted an extension of its Series A round to continue developing its technology platform. According to a press release on Sept. 24, three major investor banks included Santander’s VC arm Santander InnoVentures, Japanese investment group Nomura Holdings and MUFG Innovation Partners, a fully-owned VC subsidiary of Japan’s bank holding MUFG. The new investment round brings Securitize’s total financing up to $30…

Deutsche Bank Pilots Blockchain Technology To Provide Global Beneficial Ownership Transparency Solution

Deutsche Bank Securities Services has successfully piloted a solution using distributed ledger technology (DLT) to enable further automation of custodial services – a solution which addresses the transparency requirements within many custodial services, such as around the tax processing of asset holdings at an ultimate beneficial owner level, and streamlines complex data and reconciliation processes for both the bank and its clients. advertisement “We are very excited about the opportunities that this solution, and the underlying technology, can bring for our future service model. We continue to remain focused on…