Tag: Issues

Singapore Central Bank Issues 9-Year Ban to Three Arrows Capital Founders

The MAS has also banned them from managing, acting as a director, or even being a substantial shareholder of any capital market services business operating in Singapore. In the latest development, the central bank of Singapore has issued nine years of prohibitions to the founders of Three Arrows Capital Kyle Davies and Su Zhu over the alleged violations of the country’s securities laws. On Thursday, September 14, the Monetary Authority of Singapore (MAS) said in a statement that Davies and Zhu have been banned from regulated activities during the prohibition…

Grammy CEO clarifies AI Drake song ineligible for award over copyright issues

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The CEO of the Recording Academy that hosts the yearly Grammy Music Awards has cleared up misconceptions regarding the eligibility of an artificial intelligence (AI)-generated Drake song for award nomination.  On Sept. 8 Harvey Mason Jr. took to Instagram and released a video clearly stating that the track is “not eligible for Grammy consideration” and wanted to be extra clear that: “Even though it was written by a human creator, the vocals were not legally obtained, the vocals were not cleared by the label or the artist and the song…

Coinbase issues clarification after reports of it ceasing services in India

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Coinbase has issued a clarification after a circulating report suggested that it would soon halt all operations for its Indian customers. According to a Sept. 11 report from TechCrunch, Coinbase India users were reportedly warned via email that all services would be discontinued by Sept. 25, and were urged to to remove any funds that remained on the exchange. Coinbase said in an email that it would stop providing all trading services to users in India after September 25 and advised users to withdraw all funds in their accounts. Additionally,…

Binance CEO brushes off negativity, assures firm has ‘no liquidity issues’

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Binance co-founder and CEO Changpeng ‘CZ’ Zhao has hosed down recent rumors against his firm, assuring its balance sheet and employee retention remain robust, despite the recent market uncertainty. The Binance boss blamed negative news, rumors, bank runs, lawsuits, the closing of fiat channels, product wind-downs and employee turnovers for creating an environment of FUD (fear, uncertainty, doubt) in a Sept. 7 post on X (Twitter).  Saw some debates in the community. When you do the right thing, and there is FUD, you don’t have to do anything. The community…

Analyst Issues A Bitcoin Warning, Calls September A Red Month

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In a recent video by renowned cryptocurrency analyst Benjamin Cowen, ominous predictions for Bitcoin performance in September have emerged. Cowen, known for his data-driven approach to cryptocurrency analysis, shared his insights regarding Bitcoin’s historical performance in September and its potential trajectory for the current year. Cowen acknowledged that September has traditionally been a challenging month for BTC, often characterized by negative price movements. He emphasized that while historical trends suggest a red month for Bitcoin in September, there are no guarantees, and occasional green September does occur. The analyst highlighted…

Binance reportedly loses APAC region head amid regulatory issues

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied One of Binance’s top executives is reportedly exiting the company following several senior executive departures in recent months.  Binance Asia-Pacific (APAC) chief Leon Foong is resigning from the firm, Bloomberg reported on Aug. 31, citing people familiar with the matter.  While the report does not state the reason for Foong’s exit, the executive has become the latest senior employee to leave the crypto exchange. Binance has also seen the departure of several top executives, including general…

Binance to halt BUSD support due to legal issues

On Aug. 30, Binance informed users via its in-app notification about its intended discontinuation of the BUSD stablecoin support in early 2024. Binance intends to cease support for the BUSD stablecoin. The move indicates a shift in Binance’s operations amidst ongoing legal battles. As Paxos has halted minting of new BUSD, #Binance will now gradually remove support for the stablecoin on our platform. BUSD will always remain backed 1:1 by USD, and we continue to support a wide range of other stablecoins. Find more details below. — Binance (@binance) August…

US Copyright Office issues notice of inquiry on artificial intelligence

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The United States Copyright Office issued an official request for comments and notice of inquiry on copyright and artificial intelligence (AI) in the Federal Register on Aug. 30.  The Copyright Office issued a notice of inquiry in the Federal Register seeking public comment on questions about copyright law and policy issues raised by AI systems. Initial comments are due by October 18, 2023. Reply comments are due November 15, 2023. https://t.co/fNiHB1W7SI pic.twitter.com/3vNBRNxGJj — US Copyright Office (@CopyrightOffice) August 30, 2023 According to the filing, the Copyright Office is seeking “factual…

SEC Issues First Enforcement Action Targeting NFTs

Impact Theory, a California-based media company, raked in nearly $30 million selling three tiers of NFT offerings the SEC deemed to be securities, according to a Monday statement from the markets regulator. The NFTs qualify as securities because Impact Theory’s team promised investors would profit off the collectibles, touting their “tremendous value,” according to an SEC order. Source

Sam Bankman-Fried’s lawyers appeal decision on bail, citing First Amendment issues

Lawyers representing Sam Bankman-Fried, or SBF, have filed an appeal claiming the former FTX CEO’s bail was revoked “in retaliation for him exercising his First Amendment rights” and not witness tampering as alleged. In an Aug. 25 filing in the United States Court of Appeals for the Second Circuit, SBF’s legal team filed a motion seeking to have him released before his October trial. According to his lawyers, Judge Lewis Kaplan revoking SBF’s bail on Aug. 11 was “improper,” claiming his actions of speaking to the press and releasing information…