Tag: News

Kenyan Fintech Kwara Raises $3 Million in Seed Extension – Fintech Bitcoin News

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A Kenyan fintech that digitizes credit unions, Kwara, is reported to have raised $3 million via a seed extension round that was backed by DOB Equity, Globivest, and Willard Ahdritz. The latest round brings to $7 million the amount of capital that the fintech has now raised via this funding round. Kwara’s Client Base Kwara, the Kenyan fintech targeting the financially excluded, has reportedly raised a $3 million seed extension and has signed a digital solutions distribution agreement with an organization representing Kenyan cooperatives. The fintech, which more than doubled…

Darknet Market Solaris Hacked by Competitor, Elliptic Reveals – Bitcoin News

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A leading marketplace on the dark web, Solaris, has been hit by a rival, according to crypto analytics company Elliptic. The Russia-linked platform, which tried to occupy space vacated by the busted Hydra, is believed to have conquered up to a fifth of the illicit market before the hack. Solaris Allegedly Taken Over by Darknet Marketplace Called Kraken Solaris, a major marketplace for drugs and other illicit products, has been targeted in a hacking attack carried out by a similar enterprise, Kraken, not to be confused with the well-known cryptocurrency…

‘Digital Currencies Appear Inevitable’ – Featured Bitcoin News

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Bank of America says “digital currencies appear inevitable,” adding that central bank digital currencies (CBDCs) and stablecoins are “a natural evolution of today’s monetary and payment systems.” The bank expects “private sector beneficiaries to emerge in all phases of CBDC implementation.” Bank of America on Future of Money and Payments Bank of America (BOA)’s global research team published a report on global cryptocurrencies, digital assets, and central bank digital currencies (CBDCs) earlier this week. The bank wrote: Digital currencies appear inevitable. We view distributed ledgers and digital currencies, such as…

Jim Cramer Thanks SEC Chairman for Standing up to ‘Crypto Bullies’ Seeking Spot Bitcoin ETF Approval – Regulation Bitcoin News

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The host of Mad Money, Jim Cramer, has thanked Securities and Exchange Commission (SEC) Chairman Gary Gensler for standing up to the “crypto bullies” who want the regulator to approve a spot bitcoin exchange-traded fund (ETF). Cramer has repeatedly warned about the SEC cracking down on uncompliant crypto firms, urging investors to get out of the asset class now. Jim Cramer Praises SEC Chairman Gary Gensler The host of CNBC’s Mad Money show, Jim Cramer, has thanked the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, for…

Morgan Stanley CEO Says Inflation Has Peaked and China Has Made a Major Pivot – Economics Bitcoin News

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Morgan Stanley CEO James Gorman says two changes have happened recently that “really matter” to the economy. The executive explained that inflation has clearly peaked and China has made a “major, major pivot” economically. Morgan Stanley’s CEO on U.S. Economy and Inflation The chairman and CEO of global investment bank Morgan Stanley, James Gorman, discussed the U.S. economy and China’s relationship with the U.S. in an interview with CNBC Thursday in Davos, Switzerland. “Two things have changed recently that really matter,” he began, noting that the first concerns inflation while…

Market Trajectories Hinge on Decision – Economics Bitcoin News

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Equities, precious metals, and cryptocurrencies have been on a tear during the last three weeks of 2023, and all eyes are now focused on the next Federal Open Market Committee (FOMC) meeting, which is 11 days away. On Friday, Federal Reserve governor Christopher Waller said that he favors a quarter-point benchmark rate increase at the next FOMC meeting. Analysts believe that current market trajectories will be dependent on the outcome of the next Fed meeting. Markets Still on Edge Ahead of Fed Meeting Despite Equities, Cryptocurrencies, and Precious Metals Rallying…

Objections Raised Over Appointment of Sullivan & Cromwell as Debtors’ Counsel for FTX – Bitcoin News

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On Friday, bankruptcy judge John Dorsey approved the law firm Sullivan & Cromwell (S&C) to be appointed as the debtors’ counsel for FTX, despite an objection from Daniel Friedberg, a former FTX US compliance officer. During a Zoom presentation, Friedberg claimed there was a conflict of interest between former and current FTX executives and FTX US’ general counsel, as Ryne Miller once worked for S&C. Judge Dorsey, however, was not swayed by Friedberg’s 17-page objection and appointed S&C, stating that “there’s no evidence of actual conflict here.” FTX Bankruptcy Raises…

Bitcoin’s Crypto Market Action Holds the Upper Hand as Dominance Level Surpasses 40% – Bitcoin News

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On Jan. 21, 2023, the price of bitcoin reached a 24-hour high of $23,333 per unit at 5 a.m. Eastern Time on Saturday. The entire crypto-economy is now valued at $1.05 trillion after rising 7.2% against the U.S. dollar. Bitcoin’s price rise has led to the crypto asset’s dominance level surpassing the 40% region among thousands of crypto assets, as the digital currency’s market valuation has climbed to $443 billion. Bitcoin’s Value Rises 37.2% in 30 Days, Pushing Dominance Level Above 40% Bitcoin jumped above the $23,000 zone on Jan.…

US Government Seizes $700 Million in Assets From Disgraced FTX Co-Founder Sam Bankman-Fried – Bitcoin News

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Federal prosecutors have seized $697 million in assets, mostly comprised of more than 56 million Robinhood shares worth $526 million, from FTX co-founder Sam Bankman-Fried. Court filings detailed that the U.S. government seized a series of bank accounts belonging to Bankman-Fried, holding millions in cash. US Government Seizes Millions in Cash and Robinhood Shares From FTX Co-Founder; SBF Denies Misappropriation of Customer Assets The U.S. government has seized nearly $700 million from the former FTX CEO and co-founder, Sam Bankman-Fried (SBF), according to court documents reviewed by CNBC. Most of…

SOL up 20%, ADA Hits Highest Point Since November – Market Updates Bitcoin News

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Solana rose by as much as 20% Saturday, as crypto markets came alive to start the weekend. The token hit a 12-week high in today’s session, breaking out of a key price ceiling in the process. Cardano also rose to its strongest point since November, with the global cryptocurrency market cap up 6.86% as of writing. Solana (SOL) Solana (SOL), was one of Saturday’s notable gainers, as the token rose by as much as 20% in today’s session. SOL/USD hit a high of $26.41 to start the weekend, which follows…