Month: June 2023

Hong Kong as Crypto BTC Hub? The City’s Strict Banking Requirements May Be an Obstacle

“The city’s digital assets regulation is overall friendly and encourages banks to work with crypto companies, however, banks still currently have stringent requirements in place, which makes it difficult for crypto businesses to expand and grow,” Adrian Wang, founder, and CEO of Metalpha, a Hong Kong-based digital assets wealth management company, said to CoinDesk at the time. “We have yet to see major progress in the banking sector to embrace crypto. Hopefully, that will change soon.” Source

BlackRock applies for spot Bitcoin ETF — a US first, if approved

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BlackRock has filed an application for a Bitcoin spot exchange traded fund (ETF). The investment company is the world’s largest and it would be the first crypto spot ETF in the United States, if it receives approval. According to a filling by the Nasdaq stock exchange with the U.S. Securities and Exchange Commission (SEC), Coinbase Custody Trust Company would be the custodian of the fund’s Bitcoin holdings and Bank of New York Mellon would custody its fiat. BlackRock’s iShares Bitcoin Trust would be traded as Commodity-Based Trust Shares. According to the application filed on…

Do Kwon to Remain in Jail While Montenegro Courts Consider South Korea Extradition: Report

In March, the South Korean national was arrested in Montenegro over the alleged possession of falsified documents along with fellow Terra executive Han Chang-Joon. South Korean officials were already searching for Kwon, and following his arrest, the country requested Kwon’s extradition, as did the U.S. Kwon also faces possible jail time in Montenegro over the document forgery case. Source

Will Allowing Users to Earn Digital Assets Drive Wider Cryptocurrency Adoption?

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Cryptocurrencies have received a lot of interest in recent years because they provide a decentralized and digital form of money. However, widespread acceptance continues to be a struggle. Allowing consumers to earn digital assets is one potential method for increasing cryptocurrency adoption. In this article, we will look at how to earn digital assets and how it affects bitcoin acceptance. We will examine whether allowing users to earn digital assets may expedite the general acceptance of cryptocurrencies, from the benefits for individuals to the ramifications for businesses and the wider…

Fed, SEC investigate Goldman Sachs over Silicon Valley Bank’s securities portfolio: Report

Goldman Sachs is currently facing scrutiny from the Federal Reserve and Securities and Exchange Commission (SEC) regarding its involvement in the purchase of Silicon Valley Bank’s securities portfolio prior to the bank’s collapse, The Wall Street Journal has reported, citing sources familiar with the matter. Breaking: Goldman Sachs is being investigated by the Federal Reserve and the Securities and Exchange Commission over its role in Silicon Valley Bank’s final days https://t.co/L7buF8TfvX — The Wall Street Journal (@WSJ) June 15, 2023 According to the report, both agencies are investigating Goldman Sachs’ actions…

Fed, SEC investigate Goldman Sachs over Silicon Valley Bank’s securities portfolio: Report

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Goldman Sachs is currently facing scrutiny from the Federal Reserve and Securities and Exchange Commission (SEC) regarding its involvement in the purchase of Silicon Valley Bank’s securities portfolio prior to the bank’s collapse, The Wall Street Journal has reported, citing sources familiar with the matter. Breaking: Goldman Sachs is being investigated by the Federal Reserve and the Securities and Exchange Commission over its role in Silicon Valley Bank’s final days https://t.co/L7buF8TfvX — The Wall Street Journal (@WSJ) June 15, 2023 According to the report, both agencies are investigating Goldman Sachs’ actions…

Sotheby’s auctions off Dmitri Cherniak’s ‘The Goose’ NFT from 3AC collection for $6.2M

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Sotheby’s auction house has sold a piece of digital artwork from the collection of collapsed crypto hedge fund Three Arrows Capital (3AC) for more than $6 million. According to auction records updated June 15, Dmitri Cherniak’s artwork ‘The Goose’ sold for roughly $5.4 million in addition to Sotheby’s premium fees, totaling just over $6.2 million. The nonfungible token (NFT) artwork was part of 3AC’s digital portfolio assembled in 2021. Su Zhu and Kyle Davies, 3AC’s co-founders,  purchased ‘The Goose’ in August 2021 for 1,800 Ether (ETH), roughly $5.8 million at the…

Sotheby’s auctions off Dmitri Cerniak’s ‘The Goose’ NFT from 3AC collection for $6.2M

Sotheby’s auction house has sold a piece of digital artwork from the collection of collapsed crypto hedge fund Three Arrows Capital (3AC) for more than $6 million. According to auction records updated June 15, Dmitri Cherniak’s artwork ‘The Goose’ sold for roughly $5.4 million in addition to Sotheby’s premium fees, totaling just over $6.2 million. The nonfungible token (NFT) artwork was part of 3AC’s digital portfolio assembled in 2021. 3AC co-founders Su Zhu and Kyle Davies purchased ‘The Goose’ in August 2021 for 1,800 Ether (ETH), roughly $5.8 million at…