Day: February 23, 2023

Canada Lists Stringent Requirements for CTPs Trading in Stablecoins

The crypto asset trading platforms will now be forbidden from allowing clients to trade and deposit stablecoins, or any other type of “Value Referenced Crypto Assets” (VRCAs), without the CSA’s prior written authorization. The Canadian Securities Administrators (CSA) issued a notice on February 22nd elaborating on the novel commitments required for crypto asset trading companies (CTPs) who are eyeing registration in Canada. The CTPs in Canada will be a part of the new version of preregistration undertaking (PRUs), which are legally binding manuscripts. Principal regulators will then reach out to…

Galaxy Digital Closes $44M Acquisition of Self-Custody Platform GK8

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Spotify started testing Web3 wallets integration

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Music streaming platform Spotify expands its Web3 efforts by testing token-enabled playlists in several key markets.  Overlord, a Web3 gaming ecosystem, reported on Feb. 22 the start of its partnership with Spotify. The token-enabled community-curated playlist from Overlord may now be accessed via Web3 wallets of those who hold the Creepz nonfungible tokens (NFTs) on Spotify. For now, only Android users from the United States, United Kingdom, Germany, Australia and New Zealand can unlock the playlists.  Other participants in the three-month pilot are Fluf, Moonbirds and Kingship metaverse communities. While Fluf and…

SEC files objection to Binance US bid for Voyager assets

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The United States Securities and Exchange Commission (SEC) has objected to Binance.US’ move to acquire over $1 billion of assets belonging to the defunct cryptocurrency lending firm Voyager Digital. According to a Feb. 22 filing submitted to the U.S. Bankruptcy Court in the Southern District of New York, the SEC believes that certain elements of the asset restructuring plan of Binance.US’ acquisition could breach Securities Laws. The SEC is formally investigating whether Binance.US and related debtors violated anti-fraud, registration and other provisions of the federal securities laws. The SEC noted…

Bumble Q4 & Full-Year 2022 Results Show Increase in Revenue, App Paying Users

According to Bumble CEO Whitney Wolfe Herd, the company’s Q4 and full-year 2022 performance strengthens confidence in “long-term opportunity.” Bumble Inc (NASDAQ: BMBL) recently announced its Q4 and full-year 2022 results, which showed a 19% increase in annual revenue. The dating app facilitator hauled in $903.5 million for the whole year, while also recording a fourth-quarter 28% increase to $190.8 million. Furthermore, Bumble reported a 35% increase in paying users to 2.2 million in Q4. According to the company, its subscription base grew 130,000 quarter-over-quarter last year. Bumble Q4 and Full-Year 2022…