Category: Reviews

Coinbase Explores FTX Acquisition and Derivatives License

Until FTX collapsed in November, FTX Europe was the only firm offering special crypto derivatives (perpetual futures) to the European market. Reports have emerged that Coinbase considered acquiring FTX Europe after the exchange’s bankruptcy in November. While the acquisition talks were not successful, Coinbase’s interest in FTX Europe underlines how important derivatives have become to Coinbase’s global strategy. Whereas spot trading volumes have dipped significantly, there is a greater demand for derivatives. Data from crypto analytics firm Kaiko Research showed that derivatives volume was six times larger than spot volume…

Bybit to Suspend UK Operations in Response to FCA’s New Rules

The recent decision by Bybit to suspend its operations in the United Kingdom is not an isolated incident within the crypto industry. In a sudden turn of events, crypto exchange Bybit has announced its decision to suspend its operations in the United Kingdom. This move comes just a week after the company expressed its commitment to explore all available options to continue operating within the country. Bybit Exchange’s Proactive Response to FCA The company has outlined a timeline for these changes, providing clarity to its customers. As of October 1,…

Major Milestones Shows XRP Ledger Is Becoming A DeFi Force To Be Reckoned With

After the XRP token recorded an all-time high in daily trading volumes for crypto exchanges in the US, the Ripple ecosystem has achieved a new milestone, successfully hitting over 82 million registered ledgers on its XRP Ledger.  XRP Ledger Surpasses 82 Million Ledgers XRP Ledger, a decentralized public blockchain backing the XRP token has gained recognition for its unique consensus algorithm and incorporation of the XLS-20 protocol. The leading cryptographic ledger reported that it had closed approximately 82,035,421 registered ledgers on its blockchain.  This achievement follows another milestone in August…

Alibaba’s Logistics Arm Cainiao to File for $1B+ Hong Kong IPO

Meanwhile, Alibaba has put a hold on Hong Kong IPO plans for its grocery chain Freshippo. The Alibaba Group’s logistical arm Cainiao Network Technology is set to reportedly file for its Hong Kong Initial Public Offering (IPO) by next week, making it one of Alibaba’s first units to go public. According to sources familiar with the matter, the logistics firm is looking to raise more than $1 billion from the sale share. They added that the valuation has not been decided on and no final decisions have been made so…

Foodpanda Conducts Another Round of Layoffs amidst Potential Business Sale

While Foodpanda strives to manage its operations, its parent firm, Delivery Hero, is reportedly in early discussions with potential buyers to sell part of the food delivery business. Singapore-based food delivery company Foodpanda is conducting another round of employee layoffs as it strives for increased efficiency and adaptability. The company confirmed to CNBC that it is reducing its workforce, making it the third round of layoffs in a year. The Asian food delivery service also slashed its headcount in February and September last year, citing economic challenges. Unlike the previous…

Banks Taps Silent Eight’s AI Software to Fight Against Financial Crimes

Silent Eight’s software is grounded in generative AI, similar to the technology behind the viral ChatGPT chatbot. Silent Eight, led by CEO Martin Markiewicz, has made it its mission to empower financial institutions to combat financial crimes more efficiently and effectively through the use of its Artificial Intelligence (AI) software. Among Silent Eight’s distinguished clientele are global financial giants like HSBC Holdings plc (LON: HSBA), Standard Chartered PLC (LON: STAN), and First Abu Dhabi Bank, to name a few. These institutions have recognized the value of Silent Eight’s AI-driven solutions…

FTX Sues Ex-Employees of Salameda as It Seeks to Recover $157M

The defendants allegedly used their connections on the inside to ensure that their withdrawals were prioritized over those of other customers. Bankrupt crypto exchange FTX has sued former employees of its Hong Kong-based affiliate Salameda in hopes of recovering $157.3 million. According to a Thursday filing, Salameda was being controlled by the firm’s ex-CEO, Sam Bankman-Fried. New Filing against Ex-Employees of Salameda Reveals ‘Shady’ FTX Withdrawals The filing claims that 5 individuals and two companies are behind several withdrawals that took place in the days leading up to FTX’s bankruptcy.…

Bank of Japan Leaves Interest Rates Unchanged, Experts Share Concerns

Analysts believe that Bank of Japan would soon face pressure to raise interest rates and reverse from its loose monetary conditions. On Friday, September 22, Japan’s central bank decided to leave its interest rates unchanged amid “extremely high uncertainties”, and continue with its ultra-loose policy. Following its September meeting, the Bank of Japan confirmed its decision to keep short-term interest rates at -0.1%. The central bank also set a target to limit the yield on 10-year Japanese government bonds to approximately zero, in line with expectations. In a policy statement…

Crypto Mining Giant Bitmain to Invest $53.9 Million in Core Scientific

Bitmain’s investment represents not only a significant financial commitment but also a strategic move to fortify its partnership with Core Scientific. Bitmain, a leading manufacturer of crypto mining rigs, has announced a substantial investment of $53.9 million in Core Scientific, a major North American blockchain data center provider and digital asset miner since 2017. Core Scientific operates data centers in multiple US states and utilizes their Minder software for efficient mining management and monitoring. This partnership signifies an expansion of their already-established relationship and supply contract. Both companies have agreed…

Instacart Founder Apoorva Mehta Now Is Billionaire after Selling Stake Post-IPO

Mehta stepped down from his role as the company’s CEO last year and following Tuesday’s IPO, will cease to serve as Executive Chairman. Online grocery delivery startup Instacart’s founder Apoorva Mehta is now a billionaire after selling 700,000 shares of the company. Mehta, 37, co-founded Instacart in 2012 and went on to grow the business to a market value of $8.8 billion following an Initial Public Offering (IPO) on Tuesday. Mehta is now reportedly worth $1.1 billion. At its peak in March 2021, Instacart was valued at $39 billion. The…