Month: May 2023

FTX 2.0 Rumors Resurface in CEO’s Legal Billings

Coinspeaker FTX 2.0 Rumors Resurface in CEO’s Legal Billings Contents from the latest billing report of the new CEO of FTX, John Ray III, have revived hopes that the bankrupt exchange may be restarted. Ray, who was appointed to steer FTX’s ship during its bankruptcy process had hinted at a possible restart in January. And now, the latest billing report suggests that work may already be underway to make FTX 2.0 a reality. Per the filing, Ray spent more than 6.5 hours on items linked to “2.0” which is thought…

FTX unveils FTX 2.0 strategy, FTT token surges 17% surge

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Under the guidance of CEO John Ray III, FTX unveiled resurrection plans in a new project known as FTX 2.0.  Documents recently filed in the United States Bankruptcy Court for the County of Delaware provide insight into the comprehensive planning and execution of the relaunch by John Ray III and his team. Ray invoiced the company’s bankruptcy estate for over $290,000. FTX also paid an extra $1.3 million to other workers who took over the exchange…

US Crypto Influence in Balance amidst Regulatory Uncertainty 

The country recorded the lowest cryptocurrency trading volumes in over 12 months last week. Some analysts have linked this situation to the pullback in trading from Jump and Jane Street. The United States crypto influence looks to be slipping away with each passing day. The US has been a powerhouse in the crypto space for years now but is now at risk of losing that position to countries including Australia, the United Arab Emirates, Switzerland, and South Korea, according to Ark Invest analyst Yassine Elmandjra. The United Arab Emirates (UAE)…

Information Commissioner John Edwards’ opening remarks at the European Parliament’s Committee on Civil Liberties, Justice and Home Affairs (LIBE), delivered on 23 May 2023.

Kia ora kotou katoa. That’s a greeting in te reo Maori, the Maori language of my homeland, Aotearoa New Zealand. Thank you for the kind invitation from the Chair to speak before this Committee. I am pleased to be here as the UK’s regulator for data protection. My principal reason for being here is to provide you with reassurance that I take my responsibility of protecting Europeans data in the United Kingdom very seriously, and that I will continue to do so through the process of law reform, and beyond.…

Bitcoin and Crypto Under Threat as JPMorgan Warns of Debt Talks Going Wrong

All eyes are on whether the US government manages to increase the debt ceiling further. Any failure to do so will put significant pressure on risk assets. Since the beginning of the year 2023, Bitcoin and the broader crypto market have given a strong bounce after a brutal crypto winter in 2022. However, the party could be ending soon amid the current macro developments in the United States. Speaking during the bank’s investor day on Monday, May 22, JPMorgan CEO Jamie Dimon issued a stark warning to investors regarding the…

Payments Platform Strike Adds Support for Tether’s USDT, Eyes Global Expansion

Strike will be hoping to leverage Tether’s stability as a reliable store of value to appeal to more clients globally. Strike, a global payments platform built on Bitcoin‘s Lightning Network, has added support for Tether (USDT). By integrating the world’s largest stablecoin, users of the Strike app may now carry out USDT on-ramps, off-ramps, and settlements within the platform. According to Tether CTO Paolo Ardoino, work is still in progress regarding which blockchains will back the integration of USDT on the platform. However, he hints that “it will be a…

Number of Ether Staked Has Surged By 4.4 Million Since Shapella Upgrade

The recently enabled withdrawal flexibility in ETH staking, courtesy of the Shapella upgrade, mitigates its perceived risk for many investors,” Bitfinex’s analysts noted. “Prior to this upgrade, potential stakeholders may have been deterred from staking their ETH tokens due to concerns about their funds being locked for an unacceptably long duration.” Source

International Securities Regulator IOSCO Proposes Norms for Crypto Regulation, Invites Feedback

“As the G-7 Finance Ministers and Central Bank communiqué of 13 May has once again reminded us, the time has come to put an end to the regulatory uncertainty that characterizes crypto activities. Today’s consultation paper received unanimous support from the IOSCO Board and is the outcome of an intense period of regulatory risk analysis, information sharing and capacity building,” said Jean-Paul Servais, chairperson of IOSCO in a statement to the press. Source