Day: March 2, 2023

Binance to Revive Its Registration Bid in Singapore

Binance is looking to legally expand its global influence and this goal is currently being threatened in countries like the United States. The Binance exchange, the world’s largest digital currency trading platform is set to retry its luck in applying as a payment service provider in Singapore. As reported by Nikkei Asia, the trading platform will apply to the Monetary Authority of Singapore (MAS) for the Capital Markets Service License through its local subsidiary Ceffu. Ceffu was rebranded back in February having operated earlier as Binance Custody. Unlike its core…

Safe Collaborates with Stripe & Gelato to Release ‘Core’ Open-source Software Stack Aimed at Enhancing Decentralized Space

The Safe (Core) development stack incorporates digital solutions from Stripe and Gelato to enhance developer experience.  Swiss-based self-custody infrastructure provider Safe partnered with Gelato and Stripe to launch the open-source software stack Core. According to reports, Safe (formerly known as Gnosis Safe) released the new development stack for simplified Smart Contract development on Ethereum. In a blog post, Safe said: “We are doubling down and making our stack available to anyone to build the next generation of account abstraction wallets and solutions. With Safe (Core), we are launching an open-source and modular AA stack that brings…

Pro-Crypto Bank Silvergate Sees Stock Drop amid DOJ Congressional and Bank Regulator Inquiries

The stock of beleaguered crypto bank Silvergate has taken a new hit as the company weathers intense regulatory inquiries over its FTX association.  Silvergate (NYSE: SI) stock plunged more than 10% in after-hours trading after the crypto-friendly bank revealed it might face regulatory inquiries. Yesterday, Silvergate Capital also announced a delay in filing its annual report due to the inquiry. The bank’s health has been the subject of concern over the last few months following FTX’s collapse in November. Meanwhile, amid the current drawdown of its stock and regulatory inquiries, Silvergate revealed that…

Trezor warns users of new phishing attack

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Hardware cryptocurrency wallet provider Trezor has warned its users about a new phishing attack targeting their crypto investments by trying to steal their private keys. Trezor took to Twitter on Feb. 28 to caution users about an active phishing attack designed to steal investors’ money by making them enter the wallet’s recovery phrase on a fake Trezor website. The phishing campaign involves attackers posing as Trezor and contacting victims via phone calls, texts or emails claiming that there has been a security breach or suspicious activity on their Trezor account.…

TSLA Stock Declines Over 5% as Tesla Goes Short on Specifics on New Products or Services at 2023 Investor Day

The automaker plans to ramp up battery production for all vehicles and utility-scale energy storage systems. It appears investors are not pleased with the outcome of the Tesla 2023 Investor Day held on in Austin, Texas. CEO Elon Musk and other executives at the manufacturing company discussed Tesla’s position to influence a global shift from fossil fuels to renewable energy. Although Musk shared the “Master Plan 3” and spoke on the plans to advance amid increasing competition, the presentation was short on specifics on new products and services to expect.…

Mt.Gox Creditors to Start Receiving Bitcoin Payouts from March 10

Nearly a decade after, the end Mt.Gox case will solve historical injustice on early Bitcoin and crypto investors who lost potential high profits over the years. One of the largest cryptocurrency-related hacks, Mt.Gox, which saw hackers siphon about 850,000 BTC, is nearing the end of resolution with creditors expected to start receiving payouts from March 10. After the 2014 hack, Mt. Gox was left with approximately 142,000 BTC, 143,000 Bitcoin Cash (BCH), and 69 billion Japanese yen. As such, the defunct Japanese cryptocurrency exchange has set September 30, 2023, as…

Binance custody partner clarifies Singapore licensing plans

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Amid various reports about Binance trying to revive its crypto licensing plans in Singapore, the crypto exchange has set the record straight. Binance told Cointelegraph that Ceffu, its “independent institutional custody partner,” will apply for an institutional crypto custody license when Singapore’s central bank opens applications. Singapore has established itself as a hub for crypto businesses owing to its flexible tax policies, access to diverse tech talent and convenient location, which allows companies to operate smoothly within the region in Asian time zones.  The Monetary Authority of Singapore (MAS) is…

Coinbase CEO Calls for Clear Crypto Regulations in US to Catch Up with Other Global Financial Hubs

According to Armstrong, the crypto asset market is here to stay, thus the reason traditional financial services are integrating with the blockchain and cryptocurrency industry. The call for crypto asset regulations in the United States has intensified following the collapse of Terra Luna UST and FTX last year. Already, the United States investigators are looking into the FTX and Alameda case with top officials, including former CEO Sam Bankman-Fried (SBF) and former FTX director of engineering Nishad Singh among others, under police custody. Last month, the Securities and Exchange Commission…

Blockchain Game The Sandbox Warns of Phishing Email After Security Breach

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