Tag: News

Lawyer Expects SEC to Lose if It Sues Coinbase Due to ‘Fatal Flaw’ of Gary Gensler’s Own Making – Bitcoin News

boss

A lawyer has explained why the U.S. Securities and Exchange Commission (SEC) will likely lose if the regulator takes crypto exchange Coinbase to court over alleged securities law violations. “The problem is entirely of Gary Gensler’s own making,” he stressed. Lawyer Expects SEC to Lose Against Coinbase in Court Lawyer James Murphy explained in a series of tweets Wednesday why he believes the U.S. Securities and Exchange Commission (SEC) will lose if it takes Coinbase to court. Murphy started law firm Murphy & McGonigle in 2010 to represent clients in…

We Are Running Out of Time to Fix This Problem – Economics Bitcoin News

boss

Billionaire Bill Ackman has warned that “We are running out of time” to fix the problem that led to the collapses of regional banks. “How many more unnecessary bank failures do we need to watch before the FDIC, U.S. Treasury, and our government wake up?” he stressed, adding that “We need a systemwide deposit guarantee regime now.” Ackman Calls for Urgent Action as Time Runs Out to Prevent More Bank Failures Billionaire Bill Ackman, CEO and portfolio manager of Pershing Square Capital Management, has warned that time is running out…

Fed Reveals 722 Banks Reported Unrealized Losses Over 50% of Capital as Concerns Over US Banking Crisis Grow – Economics Bitcoin News

boss

The U.S. Federal Reserve has revealed that 722 banks reported unrealized losses exceeding 50% of their capital at the end of the third quarter of 2022. “Rising interest rates are creating significant unrealized losses in investment securities and in some cases depressing tangible equity,” according to the Fed’s Division of Supervision and Regulation. 722 Banks Reported Unrealized Losses of More Than 50% of Capital The U.S. Federal Reserve has revealed in a board presentation by the Division of Supervision and Regulation that 722 banks reported unrealized losses exceeding 50% of…

UK High Court Rules to Set Aside Interim Proprietary Injunction Against Binance – Regulation Bitcoin News

boss

A high court in the United Kingdom recently set aside a proprietary injunction that was issued against the crypto exchange Binance. In its application challenging the injunction, Binance said the action had been taken without notice. Binance also said it could not comply with the injunction since it was granted after the fraudulently acquired crypto assets in question were moved. Claimant Proceeded Against Binance Without Notice A United Kingdom high court recently ruled to set aside an interim proprietary injunction against the cryptocurrency exchange Binance. The interim injunction, which required…

SEC Probes First Republic Bank Executives for Insider Trading; Lawmakers Dump Bank’s Shares Before Collapse – Bitcoin News

boss

After the second largest bank failure in history, the U.S. Securities and Exchange Commission (SEC) is reportedly investigating First Republic Bank executives for allegedly engaging in insider trading. Two sources have claimed that the securities regulator is scrutinizing the bank’s executives for making trades using confidential information. Although the sources have not named any specific individuals under investigation, they assert that the SEC is looking into the matter. Furthermore, reports indicate that U.S. lawmakers sold shares of the troubled bank before it collapsed and was acquired by JPMorgan Chase. Securities…

Defi Market Holds Steady at $49.31 Billion TVL, Lido Finance Leads the Pack With 24.82% Share – Defi Bitcoin News

boss

Since April 18, 2023, the total value locked (TVL) in decentralized finance (defi) has been fluctuating just below the $50 billion threshold. As of today, the TVL amounts to $49.31 billion, registering a 1% increase within the last 24 hours. TVL in Defi Shows Signs of Improvement, Yet to Surpass Previous Record of $53 Billion Currently, the combined TVL across all defi platforms stands at $49.31 billion as of May 6, 2023, with Lido Finance leading the pack by commanding a 24.82% share of $12.24 billion on Saturday. Over the…

NFT Sales See Modest Increase of 1.46% to Reach $149M in Past Week – Markets and Prices Bitcoin News

boss

In the past week, sales of non-fungible tokens (NFTs) have increased by 1.46%, raking in a total of $149,312,180. However, while the number of NFT buyers has risen by 22.48%, the number of NFT transactions has decreased by 8.78% compared to the previous week. Azuki Emerges as Top-Performing NFT Collection This Week With 504.96% Sales Surge Over the past week, non-fungible token (NFT) sales have experienced a modest uptick, rising by 1.46% compared to the previous week. In total, NFT sales amounted to $149.31 million, with Ethereum-based NFT sales accounting…

Push to Use National Currencies in SCO Cannot Be Stopped, Russia’s Lavrov Says – Finance Bitcoin News

boss

Efforts to transition to trade in national currencies in the Shanghai Cooperation Organization (SCO) can no longer be stopped, according to Russian Foreign Minister Sergey Lavrov. During a meeting with his colleagues in India, Moscow’s top diplomat also discussed the similar initiative within BRICS. Sergey Lavrov Convinced SCO Countries Will Switch to National Currencies, Won’t Rule Out Single Fiat There is understanding about increasing the use of national currencies in settlements between the member states of the SCO, Russian Minister of Foreign Affairs Sergey Lavrov said after conferring with counterparts…

Voyager Digital Provides Update on Reimbursement Plan for Creditors – Bitcoin News

boss

Following Binance’s withdrawal from the Voyager Digital deal on April 25, the now-defunct crypto lender has recently informed creditors that they can expect to receive their initial cash and crypto distributions “within the next few weeks.” This update comes nine days after Binance’s decision to back away from the deal. Voyager Digital Expects Initial Distributions to Creditors ‘Within the Next Few Weeks’ Voyager Digital has published an update for creditors. According to a tweet from the firm on May 4, 2023, they may be able to expect some cash or…

US-Based Bitcoin Focused Startup Fedi Raises $17 Million in Series A Funding Round – Africa Bitcoin News

boss

Fedi, the U.S.-based fintech which is led by the Nigerian bitcoin advocate Obi Nwosu, said on May 3 that it recently raised $17 million in a Series A funding round. The company said it will use the funds to help it launch what it called the “world’s first federated operating system.” Obi Nwosu said the Fedi Alpha version, which is targeted at the builder community, is set to be rolled out later in May. ‘Protecting User Privacy and Autonomy’ The United States-based fintech and bitcoin-focused company Fedi announced on May…