Day: March 28, 2023

Ethereum Co-Founder Says Crypto Ecosystem Has Never Been Better or Stronger – Regulation Bitcoin News

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Ethereum co-founder Joseph Lubin says the strength of the crypto ecosystem “has never been better or stronger.” He believes “more clarity” from regulators would be helpful for the crypto industry. “I think our industry has suffered from having two major factions lumped into one: the money-crypto faction … and the tech-crypto faction,” he explained. Ethereum’s Co-Founder on Crypto Ecosystem, Regulation Ethereum co-founder Joseph Lubin discussed the state of the crypto ecosystem, regulation, and whether ether (ETH) is a security in an interview with CNBC last Wednesday. “The strength of our…

Do Kwon’s Montenegro detention extended, registered Serbian company before arrest as fugitive

Do Kwon, the co-founder of Terraform Labs, has been detained in Montenegro while attempting to fly to Dubai allegedly using fake documents. Montenegrin authorities arrested Kwon at Podgorica airport and have approved a 30-day extension of his detention due to concerns over his unclear identity and potential for escape. In response to this decision, Kwon’s legal representatives have confirmed their intention to appeal the extension.  A wanted fugitive U.S. regulators accused Kwon and Terraform Labs of “orchestrating a multi-billion dollar crypto asset securities fraud earlier this year.” South Korean authorities…

Voyager’s $1B sale to Binance.US put on hold by US court

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Voyager Digital’s $1 billion sale to Binance.US has been temporarily halted by a federal judge after a request by the United States government for an emergency stay. The request for an emergency stay was granted by Judge Jennifer Rearden of the U.S. District Court in New York on March 27, meaning the potential deal between Voyager and Binance.US will now need to wait until at least a decision is made on the Department of Justice’s appeal against the bankruptcy plan. District Court Judge Jennifer Rearden granted approval of the U.S.…

BlockFi to provide over $100K in refunds to California clients

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Bankrupt crypto lender BlockFi has agreed to refund more than $100,000 to California customers that had continued to repay loans even after a trading halt on Nov. 10 last year.  According to a March 27 statement from California’s financial watchdog, the Department of Financial Protection and Innovation (DFPI), its investigation discovered at least 111 borrowers in California paid back roughly $103,471 in loan repayments between Nov. 11 and Nov. 22. The regulator claimed that BlockFi failed to “provide timely notification to borrowers that they could stop repaying their BlockFi loans.”…

UK Treasury drops plans for Royal Mint NFT

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The United Kingdom has shelved plans to launch a government-backed “NFT for Britain,” which was initially proposed by crypto-friendly Prime Minister Rishi Sunak. While serving as chancellor of the Exchequer, the equivalent of a chief financial minister, Sunak asked the Royal Mint in April 2022 to create an “NFT for Britain” as part of the government’s “ambition to make the UK a global hub for crypto-asset technology and investment.” Chancellor @RishiSunak has asked @RoyalMintUK to create an NFT to be issued by the summer. This decision shows the the forward-looking…

Market Strategist Discusses ‘Super Bubbles’ Bursting — Warns of ‘Outrageously Consequential, Painful Effects’ – Economics Bitcoin News

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Market strategist Jeremy Grantham, co-founder of asset management firm GMO, has warned of “super bubbles” bursting. He explained that the Federal Reserve has “created an environment conducive to a chain-linked series of super bubbles that break with outrageously consequential, painful effects.” Jeremy Grantham’s Warnings Investment strategist Jeremy Grantham shared his U.S. economic outlook with economist David Rosenberg during a Rosenberg Research webcast, published on March 16. Grantham is a co-founder and chief investment strategist of asset management firm GMO. He has been an investment strategist for over 40 years and…

Vaneck CEO Predicts Bull Cycle for Bitcoin and Gold — Expects Fed Tightening to End Soon – Markets and Prices Bitcoin News

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The CEO of investment management firm Vaneck has predicted a bull cycle for gold and bitcoin. “We are at the very beginnings of what could be a several-year cycle in gold, and I also put bitcoin in that category as well,” the executive said, adding that the Federal Reserve is “close to the end of their tightening.” Bull Cycle for Gold and Bitcoin Jan van Eck, CEO of investment management firm Vaneck, shared his prediction regarding gold and bitcoin in an interview with CNBC last week. His firm has $69…

Binance CEO Zhao Calls CFTC Suit an ‘Incomplete Recitation of Facts’

The lawsuit, filed in the U.S. District Court for the Northern District of Illinois, alleges that Binance operated a derivatives trading operation in the U.S., offering trades for cryptocurrencies including bitcoin (BTC), ether (ETH), litecoin (LTC), tether (USDT) and Binance USD (BUSD), which the suit referred to as commodities. The suit also alleges that the company, under Zhao’s leadership, directed its employees to spoof their locations through the use of virtual private networks. Source