Day: August 11, 2023

Former FTX CEO Sam Bankman-Fried Really Is Still Facing Campaign Finance Claim at Trial

Obviously I’ve written about this before, and so I’m not going to get too deep into it now, but here are the highlights: Bankman-Fried is accused of violating his bond conditions in trying to tamper with multiple witnesses as well as allegedly other shady behavior. The Justice Department says that he has abused his privilege in being allowed to spend his pretrial time at his parents’ home, and therefore, it wants to put him back into custody. Source

Kraken Surges Ahead In Altcoin Liquidity, Overtaking Coinbase In US: Kaiko

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The world of cryptocurrency exchanges, often clouded with volatility and competition, has recently been witnessing a distinct shift in dynamics, particularly as a Kraken is taking the lead in the US altcoin trading space. The latest data reveals Kraken, the California-based crypto exchange, is now dominating its rivals, specifically Coinbase, in the altcoin market. Dominating The Altcoin Trading Landscape Data analytics from crypto research firm Kaiko has highlighted Kraken’s emergence as the premier US crypto exchange for altcoin trading. With significant shifts in market depth percentages and a notable increase…

SEC punts on ARK 21Shares spot Bitcoin ETF, opens proposal to comments

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The United States Securities and Exchange Commission (SEC) has delayed a decision on approving or disapproving the spot Bitcoin (BTC) exchange-traded fund proposed by ARK Investment Management. In an Aug. 11 notice, the SEC opened a 21-day comment period for the ARK 21Shares Bitcoin ETF to the public following publication in the Federal Register, the latest delay for the regulator determining whether to approve or disapprove of a spot crypto ETF in the United States. ARK originally filed to list the ETF in May, giving the SEC a maximum of…

FC Barcelona secures $132M investment for blockchain and NFT venture

Spanish football club FC Barcelona has secured a €120 million ($132 million) investment from Libero Football Finance AG and Nipa Capital B.V. for its Web3 initiative Barça Vision. According to the Aug. 11 announcement, FC Barcelona sold a 29.5% stake in Bridgeburg Invest, the holding company for Barça Vision, in exchange for the capital. “Barça Vision is the Club’s initiative to integrate all digital content around Web3 and blockchain including nonfungible tokens (NFTs) and metaverse, which are part of the Club’s strategy to build the digital Espai Barça,” developers wrote.…

San Francisco’s SoFi Bank Reveals Significant Holdings In BTC, ETH, And DOGE

San Francisco’s SoFi Bank, a rising financial institution with 6.2 million customers, has unveiled its substantial cryptocurrency holdings, demonstrating a proactive embrace of the evolving digital asset landscape.  BTC, ETH, and DOGE Lead the Way A recent report shows that the bank’s second-quarter earnings totaled $170 million in various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE). Among its cryptocurrency investments, SoFi Bank boasts $82 million worth of Bitcoin, solidifying its position in ‘digital gold.’ Ethereum follows closely, with $55 million, showcasing the bank’s belief in the blockchain’s potential. …

The AI chatbot race and Web3

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By now you must be aware of the AI market being on a steady rise and heralding global news headlines.  AI chatbots have been the powerhouses uplifting the global business spectrum. It is expected to reach a whopping $267 billion by 2027.  That’s not all — AI is expected to be a major contributor to the global economy, with estimates stating that it could add up to $15.7 trillion by 2030. About 37% of companies and organizations are already using it in some capacity. Even the top dogs are jumping…

Hong Kong securities regulator issues in-principle approval to HKVAX

Hong Kong’s Securities and Futures Commission (SFC) has issued an in-principle approval to Hong Kong Virtual Asset Exchange (HKVAX) to operate a virtual asset trading platform under the region’s securities laws.  On Aug. 11, HKVAX announced that it had received an “approval-in-principle” from the SFC to carry out Type 1 and Type 7 regulated activities. The announcement highlighted that a Type 1 license allows the platform to operate a digital asset trading platform that deals with securities, while a Type 7 officially allows the company to provide automated trading services…

TradFi shifts perspectives on crypto assets

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Recently, Larry Fink, the CEO of BlackRock asset management fund, talked about crypto in an interview on CNBC. He said that crypto “has a differentiating value versus other asset classes, but more importantly, because it’s so international, it’s going to transcend any one currency.” BlackRock is now the world’s largest asset management fund, with over $9 trillion in assets. Fink himself was a crypto and Bitcoin skeptic as recently as 2017 when he was quoted as saying that Bitcoin was simply an “index for money laundering.” He was insinuating that…

5 things crypto must get right for mainstream adoption to happen

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Crypto functions much like traditional fiat money, offering an easy way to pay for goods and services and compensate workers for their labor. What’s even more promising is that crypto offers a number of benefits over fiat, with its decentralized nature eliminating the need for centralized intermediaries. Depending on the blockchain, transactions can be processed much more quickly than traditional payments are.  These added benefits have attracted the eye of a growing number of institutional figures and prominent politicians who acknowledge the economic advantages of crypto. In the last few…