Month: June 2023

FTX Sues Former Compliance Officer for Enabling Top Management Fraud at Exchange

FTX is also seeking to reclaim the funds Friedberg received while working for FTX. FTX has filed a complaint in court that claims that Daniel Friedberg, one of its former top attorneys, was a major part of the fraud that company founder Sam Bankman-Fried and other top executives perpetrated. The complaint, which was filed in the US Bankruptcy Court in Delaware on Tuesday, claims that Friedberg acted as the company’s fixer on several occasions. That is, he was responsible for silencing, albeit with hush money payments, anyone that dared raise…

New deBridge Feature Lets Solana Users Easily Access Any Ethereum-Based Blockchain

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Slovakian parliament votes to approve lower crypto taxes

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Parliament members in the European country of Slovakia voted in approval of lowering crypto taxes, among additional measures affecting cryptocurrency holders.  On June 28 the Slovakian parliament voted to approve an amendment that will reduce personal income tax for profits gained from the sale of cryptocurrencies that have been held by the user for at least a year. The taxes will be lowered to 7%, which is a significant decrease from the current taxation sliding scale of either 19% or 25%. Payments received in cryptocurrencies up to 2400 euros –…

German regulator reportedly rejects Binance’s crypto custody license request

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The German Federal Financial Supervisory Authority (BaFin) — the country’s financial regulator — has reportedly rejected Binance’s crypto custody license application. The news was first reported by Forward Finance, citing people familiar with the matter. Cointelegraph reached out to Binance to confirm the news, and a spokesperson from the firm said that it is “unable to share details of conversations with regulators,” adding: “We continue to work to comply with BaFin‘s requirements. As expected, this is a detailed and ongoing process. We are confident that we have the right team and…

MicroStrategy Buys More Bitcoins Taking Total Treasury Value Above $4.5B

MicroStrategy is currently the largest corporate holder of Bitcoins with its total BTC holdings at 152,333. On Wednesday, June 28, business intelligence firm MicroStrategy announced the purchase of over 12,000 Bitcoins worth $350 million. As we know, MicroStrategy is the largest corporate holder of Bitcoins and the recent purchase takes its Treasury value to more than $4.5 billion while holding a total of 152,333 Bitcoins. As per the filing with the US Securities and Exchange Commission MicroStrategy said that they bought 12,333 bitcoins for approximately $347 million in the period…

Michael Moro, Genesis’ Former CEO, to Head Ankex Startup Crypto Derivatives Exchange

“In terms of leverage, we don’t want this to turn into a full blown leverage casino. So for Bitcoin, the max leverage we are offering is 20x, and then for ETH and BNB, just 10x,” said Moro. “But of course, if we only traded bitcoin, ETH and BNB, then, frankly, that is a boring exchange. We will also have to offer derivatives on tokens that are less common and lower in the market cap table.” Source

Binance Market Share Drops in June after SEC Lawsuits

SEC lawsuits on crypto exchange Binance and founder Changpeng Zhao has dented the company’s business operations with trading volumes taking a hit. The world’s largest cryptocurrency exchange by trading volume – Binance – saw a drop in its market share this month in June following the regulatory action by the US Securities and Exchange Commission (SEC) on the exchange and its chief Changpeng Zhao. The lawsuit has particularly affected the US affiliate of the crypto exchange i.e. Binance.US. Blockchain data and research firm Kaiko reported that Binance’s share in the…

Exchange Responds to SEC’s Lawsuit in Court, Says Regulator Is Overreaching

The Thursday filing shares a detailed explanation of the company’s stance on the subject matter. The ongoing legal battle between the Coinbase exchange and the US Securities and Exchange Commission (SEC) has taken a new dimension. This follows after Coinbase issued its first legal response to SEC’s lawsuit early Thursday. Coinbase vs SEC In the response, the firm argues that the SEC has gone beyond its jurisdiction by coming at the crypto exchange in the first place. It further claimed that none of the digital assets listed on its platform…