Month: May 2023

Defendants in South Korea Admit Charges

The legal process is going on, with the next hearing scheduled for June 6th. On May 25th, broker Ko Mo and former Coinone listing director Jeon Mo pleaded guilty to several charges during their first hearing before the judge. According to local media, Ko Mo was accused of soliciting and delivering up to 6 million won in cryptocurrencies and cash to Jeon Mo and Kim Mo. Jeon, on the other hand, was accused of receiving payments in cryptocurrencies and cash totaling 1.92 billion won ($1.51 million) for listing coins such…

John Edwards, Information Commissioner, delivers a keynote speech at the Data and the Future of Financial Services Summit

Hello, thanks for having me here today. This event is one that the Information Commissioner’s Office has spoken at for a few years now. I spoke here last year, six months into my post, which was a great opportunity for me to get across some of my early thinking on our regulatory position. This year, I’d like to focus on the ICO’s regulatory philosophy and how we’re both empowering businesses in the finance sector and protecting the millions of consumers that rely on these services. To start, thanks to City…

Ethereum’s exchange holdings plunge to 5-year low

Ethereum (ETH) balances on crypto exchanges have plunged to a five-year low, triggering speculation on its future price action. Intriguing developments have always marked the ebb and flow of the crypto market, and this week is no exception.  The show’s star is ether, the world’s second-largest cryptocurrency, quietly making headlines due to an intriguing phenomenon – its balance on exchanges is nearing an all-time low.  The question on everyone’s mind is: what could this mean for the future of ETH? Data from Glassnode paints a compelling picture. As of May…

Gemini to Set Up Its Base in Europe, Headquarters to Be Opened in Dublin

Gemini also plans to expand its workforce after the EU adopted the new Markets in Crypto-Assets Regulations (MiCA), which were formally approved on May 16. Cryptocurrency firm Gemini has revealed that Dublin, Ireland, will be the home of its new European headquarters. On May 25, Tyler and Cameron Winklevoss, owners of the crypto firm, told reporters that the established technology and innovation community, a strong regulatory landscape, and a huge talent pool were all factors that influenced their decision to choose Dublin. The latest move has been dubbed as one…

Bank of Brazil Includes 14 Participants in Its CBDC Pilot

The Brazil Central Bank Digital Currency will initially focus on wholesale interbank transaction payment solutions. Banco Central do Brasil (the Central Bank of Brazil) plans to include more participants in its digital currency scheme. The list, released by the bank on May 24, includes the names of all the participants with whom the CBDC digital real is set to launch. The final list of 14 participants was compiled from 36 bids submitted by individuals and collaborating entities, totaling more than 100 institutions. Brazil Digital Real Pilot Will Begin with 14…

From memes to multibillion-dollar pumps, scams and rug pulls

boss

Memecoins, or meme cryptocurrencies, started as a cultural phenomenon with the launch of Dogecoin (DOGE) in 2013, inspired by an internet meme and a critique of the wild crypto market at the time.  Dogecoin was developed by software developers Billy Markus and Jackson Palmer as a joke to mock what many saw as an irrational investment hype surrounding cryptocurrencies. Memecoins started as a form of social token. They were often created and promoted by online communities or individuals with a shared interest or sense of humor. The social element of…

Why crypto marketing fails to live up to hype

boss

As we appear to be entering a new phase in crypto’s notorious market cycles, excitement is once again growing at the prospect of rising investment and deeper liquidity. However, in order for the market to come back stronger, lessons must be learned from what happened before. The collapses of 2022 continue to be analyzed by TV stations, newspapers, magazines, blogs and social media. But among the extensive analyses, one key lesson has been missed.  Crypto has a branding problem As is good practice in growing businesses, FTX spent 15% of…

Binance Japan Representative Says Stablecoins Are ‘the Glue’ Between the Real Economy and Blockchain

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Gemini chooses Ireland as its hub amid US crypto turbulence

Crypto exchange Gemini has revealed its strategic decision to set sail from the stormy seas of US regulation to the promising shores of Dublin, Ireland, establishing its European base. The Winklevoss twins, founders of the exchange, view this move as a tactical response to the shifting currents of regulatory oversight and a leveraged opportunity to tap into Ireland’s vast reservoir of tech talent and robust regulatory framework. Gemini’s choice of Dublin for its European headquarters comes when regulatory pressure is mounting in the US, prompting an exodus of crypto firms…