Month: September 2023

Gemini Bows Out of Netherlands Due to Regulatory Challenges

The Netherlands took the lead among European Union member states by mandating that crypto companies adhere to the 5th Anti-Money Laundering Directive (5AMLD). Leading cryptocurrency exchange Gemini has decided to halt its operations in the Netherlands, citing mounting regulatory hurdles imposed by the Dutch central bank De Nederlandsche Bank (DNB).  The move follows the footsteps of Binance, another digital asset trading platform that withdrew from the market earlier this year due to similar regulatory constraints. In an emailed statement addressed to its Dutch users on September 26, Gemini conveyed its…

What it means for crypto markets

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The FTX bankruptcy lawsuit reached a key juncture in the second week of September after the United States Bankruptcy Court for the District of Delaware approved the sale of $3.4 billion worth of crypto assets. The court also approved $1.3 billion in brokerage and government-recovered assets as part of the liquidation process, with $2.6 billion in cash bringing the total tally to $7.1 billion in liquid assets. Among the different cryptocurrencies set for liquidation, Solana (SOL) tops the pile with a value of $1.16 billion, and Bitcoin (BTC) is the second-largest…

Important Events That Could Have A Massive Impact On XRP Price

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Despite some analysts noting why XRP is unlikely to end on a high, certain macro (and micro) factors could significantly impact the token’s price and possibly see it enjoy the same trajectory it did following Judge Analisa Torres’ ruling in favor of Ripple.  SEC-Related Factors Could Impact XRP Price On August 17, the US Securities and Exchange Commission (SEC) was given approval by Judge Analisa Torres to file its motion seeking an interlocutory appeal against her ruling at the Court of Appeals.  However, this wasn’t an approval of the SEC’s…

Crypto Payments Firm Circle (USDC) Rolls Out Tokenized Credit Protocol Perimeter, Unveils Circle Research Division

“We’ve seen the great utility stablecoins and USDC have brought to developers, corporations, end-users and more across an array of use cases, including for global lending markets within DeFi,” the company said in a blog post. “However, for new entrants to participate in these markets, the ability to securely unlock credit on-chain through safe standards and underwriting, represents a significant barrier to entry.” Source

Valkyrie Receives Permission to Start Buying ETH Futures for Its Bitcoin ETF

The news of the new Valkyrie ETF caused a spike in Ether price.  Asset manager Valkyrie has received approval to convert its Bitcoin futures exchange-traded fund (ETF) to a two two-for-one investment vehicle by combining Bitcoin and Ether futures contracts into one contract. The firm has already started buying Ether futures contracts. In a statement to CoinDesk, a company spokesperson wrote: “Today, the Valkyrie Bitcoin Strategy ETF (Nasdaq: $BTF) began adding exposure to Ether futures contracts, making it the first US ETF to provide exposure to Ether and Bitcoin futures…

Euro Zone Inflation for September Falls to 4.3% Lowest Level Since October 2021

Euro zone inflation has reduced to its lowest point in nearly 2 years after the European Central Bank hiked rates for the 10th time. The euro zone annual inflation level fell to its lowest this month, since October 2021. Annual inflation fell to 4.3%, down from 5.2% in August. Also, core inflation fell from 5.3% in August to 4.5% in September. Core inflation excludes energy, food, alcohol, and tobacco. The reduction in inflation comes after the European Central Bank (ECB) decided to increase its main interest rate for the 10th consecutive…

Binance Russia buyer tightlipped on owners, denies CZ involvement

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Amid growing skepticism about CommEx — the mysterious buyer of Binance’s Russian division — the newly launched firm has continued denying Binance’s ownership involvement. On Sept. 29, CommEx issued an open letter to the community, reiterating that the company is not owned by Binance, which announced its exit from Russia by selling the firm to CommEx. “Although we do not disclose our UBO, we want to make it clear that we are not owned by Binance,” CommEx wrote on its website. A spokesperson for CommEx declined to comment to Cointelegraph…

Binance Russia buyer tightlipped on owners but denies CZ involvement

Amid growing skepticism about CommEx — Binance’s mysterious buyer in Russia — the newly launched firm has continued denying Binance’s ownership involvement. On Sept. 29, CommEx issued an open letter to the community, reiterating that the company is not owned by Binance, which announced its exit from Russia by selling the firm to CommEx. “Although we do not disclose our UBO, we want to make it clear that we are not owned by Binance,” CommEx wrote on its website. A spokesperson for CommEx declined to comment to Cointelegraph about the…