Day: June 28, 2023

Voyager to pay $1.1M in legal fees incurred in April

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Bankrupt crypto brokerage Voyager Digital is obligated to pay $1.1 million to its legal adviser, Kirkland & Ellis, for fees and expenses associated with its involvement in the company’s bankruptcy proceedings in April. According to the available documents, Kirkland & Ellis law firm implemented a blended hourly billing rate of $1,313.18 for the provision of various services throughout April. The cumulative fees assessed for the legal services rendered by both attorneys and paralegals amounted to a figure surpassing $1.4 million. Certain members holding high positions within the law firm charged…

EU finalizes controversial smart contract kill switch rules under Data Act

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European Union (EU) lawmakers have reached an agreement to move ahead with the controversial European Data Act, which has previously drawn criticism from the crypto community. The deal was confirmed by the EU’s Commissioner for Internal Markets, Thierry Breton, in a tweet calling it a “milestone in reshaping the digital space.” Another deal! ⁰Tonight’s agreement on the #DataAct is a milestone in reshaping the digital space. Thanks to the swift work of the EP @delcastillop & the Council Presidency, we are on the way of a thriving data economy that is…

European Commission Publishes EU Digital Euro Bill Featuring Privacy Controls, Offline Guarantee

“A digital euro would also enhance the integrity and safety of the European payment system at a time when growing geopolitical tensions make us more vulnerable to attacks to our critical infrastructure,” be available “to everyone, everywhere, for free,” and could stimulate innovation and competition in a market dominated by a few major players, mostly from the U.S., said Dombrovskis in the post co-authored with European Central Bank’s (ECB) Executive Board Member Fabio Panetta. Source

Peter Thiel’s Valar Ventures Leads $33M Round for One Trading

Austria-based One Trading, the digital asset exchange formerly known as Bitpanda Pro, has announced a successful €30 million (roughly $33 million) funding round as it separates entirely from Bitpanda. The new platform plans to expand its crypto asset offerings for retail and institutional investors throughout Europe. The raise was led by Valar Ventures, co-founded by billionaire entrepreneur Peter Thiel, and featured participation from MiddleGame Ventures, Speedinvest, Keyrock and Wintermute Ventures. Original Source 33MLeadsPeterThielsTradingValarVentures CryptoX Portal

OKX’s monthly reserves report shows over $11.3b in crypto holdings

Crypto exchange OKX, a well-known exchange, has published its eighth consecutive monthly report on proof-of-reserves (PoR). The report reveals the balances of BTC, ETH, and USDT held by OKX, totaling a significant amount of $11.3 billion. According to the report, OKX has maintained a reserve ratio of over 100% for eight months. The PoR report includes various assets such as USDC, XRP, DOGE, SOL, OKB, APT, DASH, DOT, ELF, EOS, ETC, FIL, LINK, LTC, OKT, PEOPLE, TON, TRX, and UNI, in addition to BTC, ETH, and USDT. BTC, ETH, and…

KuCoin crypto exchange to introduce mandatory KYC in July

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Major cryptocurrency exchange KuCoin is working to strengthen its Know Your Customer (KYC) system by introducing new mandatory identity checks. On June 28, KuCoin officially announced the upcoming KYC system upgrade in a move to increase compliance with global Anti-Money Laundering regulations. The KYC authentication upgrade introduces mandatory KYC checks for all new users at KuCoin starting from July 15, 2023. Without completing KYC, newly registered users will not be able to access KuCoin’s suite of products and services, the firm said. Existing users who registered before July 15, 2023,…

Ethereum price won’t see $2K anytime soon, market data suggests

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The price of Ether (ETH) faced strong resistance at $1,920 after a 17.5% rally between June 15 and June 22. Several factors contributed to the limited upside, including worsening macroeconomic conditions, the regulatory cryptocurrency environment and weaker demand for decentralized applications (DApps) on the Ethereum network. ETH price faces macroeconomic headwinds On June 26, a federal judge denied a motion from Binance that could have stopped the United States Securities and Exchange Commission (SEC) from issuing public statements related to the case. In addition, in its mid-year outlook, HSBC Asset…