Category: Exchanges

Cryptocurrency Mining Gets Green Light in Russia, Putin Signs New Law

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Russia took a significant step in legalizing cryptocurrency mining in the region. The new law has strict limitations, allowing only specific groups to undertake the activity. A new law signed by President Vladimir Putin now recognizes crypto mining as a legal activity for entities listed in a state registry, local media agency Tass reported. This step signals the country’s desire to embrace the digital economy while controlling its potential financial impact. Who Can Mine Under this new legislation, only Russian legal entities and registered individual entrepreneurs may mine digital currency.…

Crypto Exchange Kraken Announces Changes in Staffing Amid New CEO Appointment

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US-based crypto exchange Kraken is hinting at reducing its workforce amid plans to change how it innovates and rolls out products for its users.  In a statement, Kraken co-CEOs Arjun Sethi and Dave Ripley say the company is aiming to operate more efficiently to pursue its ambition of becoming the leading crypto exchange.  “To continue forging our path ahead and put Kraken in contention to become the largest crypto platform in the world, we need to be leaner and faster.” Kraken says it is making structural changes after falling into a…

Bitcoin as the New Gold? Larry Fink’s Vision for Cryptocurrency as a Hedge – SuperCryptoNews

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In a surprising turn of events, Larry Fink, CEO of BlackRock, recently endorsed Bitcoin as an alternative to gold. This high-profile endorsement from one of the world’s largest asset managers marks a pivotal moment for Bitcoin and could reshape how institutional investors view digital assets. But what does it really mean when an industry giant like BlackRock steps into the crypto arena? Is Bitcoin Really the New Gold? Larry Fink’s recent declaration, “we believe Bitcoin is an asset class in itself. It is an alternative to other commodities like gold,”…

CryptoQuant CEO Says Stablecoins Now Being Mostly Used for Purposes Other Than Exchange Trading

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The chief executive of digital asset insights firm CryptoQuant says stablecoins are witnessing increased adoption via use-case expansion. CryptoQuant’s Ki Young Ju tells his 368,500 followers on the social media platform X that the total market cap of stablecoins is exploding for reasons other than digital asset trading on exchanges. The on-chain analyst’s data shows that only about one in five stablecoins are being used to buy and sell crypto. “In September 2021, exchange stablecoin reserves exceeded $30 billion. From this point, I considered the stablecoin market to be sufficiently…

Trump’s Cryptocurrency Aide: A Nation-State Will Enter the Bitcoin Market ‘in Size’

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David Bailey, one of former President Trump’s cryptocurrency aides and CEO of BTC Inc., predicted that we are just months away from a significant bitcoin adoption movement by one or a few nation-states. Bailey believes that the next step is to establish bitcoin reserves. Trump’s Cryptocurrency Aide David Bailey Predicts Nation-State Bitcoin Adoption Explosion David […] Source

Crypto Exchange M2 Confirms $13.7 Million Breach, Says Issue Resolved Within 16 Minutes

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M2 Exchange recovered from a $13.7 million security breach within 16 minutes. A security firm said the incident highlights the growing vulnerability of crypto exchanges. Normal Service Restored The United Arab Emirates-based cryptocurrency exchange, M2 Exchange, said it swiftly resolved a security incident on Oct. 31 that involved $13.7 million. The exchange said customer funds […] Source

Crypto Giant 21Shares Submits Registration Statement for XRP Exchange-Traded Fund

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The crypto exchange-traded fund (ETF) provider 21Shares is now trying to launch an XRP-focused ETF in the United States. The firm filed a Form S-1 registration statement with the Securities and Exchange Commission (SEC) on Friday. The proposed product, called “the 21Shares Core XRP Trust,” is a passive investment vehicle that tracks the price of the payments altcoin. 21Shares isn’t the first firm to try to get the crypto product off the ground. Bitwise Asset Management, the largest digital asset index fund manager in the US, filed an initial registration…

JPMorgan Chase Paying $100,000,000 To Customers As Bank Settles Wave of Allegations From U.S. Securities and Exchange Commission

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JPMorgan Chase is handing $100 million to customers after settling a wave of allegations from the U.S. Securities and Exchange Commission. The bank is settling five separate cases with the agency and will pay an additional $51 million to regulators, for a total of $151 million. The alleged violations include misleading disclosures, breaches of fiduciary duty and prohibited trades. Customers who invested in the bank’s “Conduit” products will receive $90 million from the bank directly, and the bank will pay an additional $10 million to a civil fund that will also…

Kenyan Securities Exchange Joins Hedera to Bolster Tokenization Ambitions

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The Nairobi Securities Exchange has joined the Hedera Council to accelerate tokenization initiatives in Africa, leveraging the Hedera network’s technology and global reach. Expediting Uptake of Digital Assets Kenya’s main securities exchange, the Nairobi Securities Exchange (NSE), has joined the Hedera Council to accelerate tokenization initiatives using the Hedera network. By joining Hedera, the Kenyan […] Source