Day: June 16, 2023

Crypto Investments Still Appeal to Pension Funds, Hedge Funds, Family Offices: Survey

As many as 96% of the surveyed investors working for pension funds, wealth managers, family offices, hedge funds and investment funds see digital assets as representing an investment diversification opportunity alongside traditional asset classes such as fixed income, cash, equities and commodities, the survey found. They said they were prepared to stash as much as 5% of their investments in digital assets. Source

Alibaba to Launch TMall E-Commerce Site in Europe

When launched in Europe, TMall will focus on selling local brands to local shoppers. It is not yet clear if TMall will be merged in any way with AliExpress which is already present in Europe. Chinese multinational conglomerate Alibaba Group Holding Limited (HKG: 9988) is planning to reach the European market by launching TMall, one of its key e-commerce platforms, in the region. The initiative marks significant progress in Alibaba’s international strategy and reflects the giant taking its own niche in the European market. Speaking at the Viva Tech conference in Paris,…

SEC argues against Dentons’ motion to dismiss Terraform and Do Kwon’s lawsuit

boss

The lawyers representing the United States Securities and Exchange Commission (SEC) have contended that the additional documents submitted by Dentons, the legal counsel for Terraform and Do Kwon, in support of their motion to dismiss the lawsuit, lack adequate support for dismissing the case. The SEC’s counsel asserts that the Binance.US transcript and internal SEC emails, presented by the defense, hold no relevance to the current case. They argue that the Howey Test clearly defines the parameters of an “investment contract” and contend that UST should be classified as a…

Coinbase CEO Brian Armstrong’s ResearchHub Completes $5M Series A Funding Round

The startup is setting up a platform that will reward (in crypto) anyone who contributes new knowledge to the global science community ResearchHub, a crypto-based startup focused on advancing scientific research, may have just concluded a $5 million funding round. According to an official announcement, the round was led by Open Source Software Capital. Participation in the funding also came from Guillermo Rauch, Replit’s Amjad Masad, and RedHat’s Bob Young among others. ResearchHub to Deploy New Model of Funding According to ResearchHub co-founders Coinbase CEO Brian Armstrong and Patrick Joyce,…

Binance is leaving the Dutch market: Here’s when

Global cryptocurrency exchange Binance has terminated its services in the Netherlands, making an exit from the Dutch market after a bid to obtain a virtual asset service provider (VASP) license failed. The termination of services is effective immediately, and no new customers from the Netherlands can open an account with the crypto exchange. From July 17 onwards, existing Dutch customers will only be able to withdraw assets from the Binance platform, and no further purchases, trades or deposits will be possible from today. Binance claimed it explored many alternative avenues to…

Bittrex Can Resume Processing Crypto Withdraws

Earlier this year, the Seattle-based crypto exchange Bittrex announced its intent to wind down all its operations in the United States following heightened regulatory scrutiny by the SEC. After filing for Chapter 11 bankruptcy protection in a US Delaware federal court earlier, Seattle-based cryptocurrency exchange Bittrex Inc has been granted permission to allow its customers who meet the necessary regulatory requirements to access their accounts and withdraw their remaining digital assets. According to the announcement, Bittrex customers who have completed the Know Your Customer (KYC) verification processes and accepted the…

Binance to Quit Netherlands After Failing to Acquire License

“We regret to announce that Binance is leaving the Dutch market,” Binance said in an email to CoinDesk. “This unfortunately means that no new users residing in the Netherlands will be accepted as of today. Starting from 17 July, 2023, existing Dutch resident users will only be able to withdraw their assets from the Binance platform. No further purchases, trades or deposits will be possible. We encourage those users to take appropriate action by withdrawing assets from their accounts.” Source

Sturdy stablecoin market reopens three days after $800K exploit

boss

After recently suffering a recent exploit on its platform, decentralized finance (DeFi) protocol Sturdy Finance has reopened its stablecoin market. On June 16, the lending platform announced that it had unpaused the stablecoin market, allowing users to access their funds. The DeFi protocol told its users that no funds were at risk and the decision to pause the market was simply done out of “an abundance of caution.” The stablecoin market is now unpaused, enabling users in this market to access their funds! No funds in this market were ever…

Binance withdraws from Canada following additional crypto regulations

Binance is a popular cryptocurrency exchange with high transaction volumes across various cryptocurrencies, including bitcoin (BTC), ethereum, PEPE, and FLOKI. With its broad portfolio and diverse product offerings, Binance has expanded its services globally. However, some countries do not support the exchange’s role in the crypto industry. Recently, some countries have taken a stricter stance on the usage of cryptocurrencies. While a few nations have prohibited digital currencies, others, like El Salvador, have recognized bitcoin as legal tender. Users, investors, and developers wish for cryptocurrency acceptance because this financial system…