Multiple sources have reported that Do Kwon, the ex-chief executive officer of Terraform Labs, was set free from jail on Saturday while the high court in Montenegro decides on two separate extradition requests submitted by South Korea and the United States. Terraform Labs’ Former CEO Do Kwon Freed According to various sources, Do Kwon has […] Source CryptoX Portal
The Chicago Board Options Exchange has extended its approval for listing several spot Bitcoin ETFs, pending the final nod from the SEC. This announcement was disclosed in a letter to the SEC, indicating the potential listing of Bitcoin ETFs from prominent investment firms, including VanEck, Fidelity, Franklin Templeton, ARK Invest, and Invesco Galaxy. Leaked official email from Cboe This decision highlights the advanced stage of ETF proceedings. The Chicago Board Options Exchange’s (CBOE) proactive stance is geared towards accelerating the registration of these securities under Rule 12d1-2 of the Securities…
With the United States lacking an extradition treaty with the UAE, Seattle Judge Richard Jones ordered that CZ must remain with the country for the time being before he determines where the crypto billionaire is a flight risk. Despite pleading guilty to all charges and paying a hefty bond to reassure the United States Department of Justice, Binance Holdings Ltd former Chief Executive Officer Changpeng Zhao (CZ) will not be returning to the United Arab Emirates (UAE) soon, after District Judge Richard Jones reviewed the decision by Magistrate Judge Brian…
Changpeng “CZ” Zhao, who pleaded guilty to one felony charge as part of a settlement with the United States Department of Justice involving crypto exchange Binance, may not be permitted to leave the country as he awaits sentencing. According to a Nov. 27 filing in U.S. District Court for the Western District of Washington at Seattle, Judge Richard Jones stayed a decision by a magistrate judge that would have allowed CZ to return to the United Arab Emirates (UAE), where he has a home and family members. The judge ordered that…
A recent K33 Research report indicates a significant uptick in institutional investment in Bitcoin through exchange-traded products, coinciding with key deadlines for the SEC’s decision on Bitcoin spot ETFs, presenting a complex landscape of market optimism and caution. In a recent analysis, K33 Research highlights a significant surge in institutional interest in Bitcoin (BTC), particularly through exchange-traded products (ETPs). This trend, marked by an increase of 27,095 BTC, surpasses the growth seen in the months following BlackRock’s filing for a Bitcoin spot ETF. The report by K33 Research, led by…
The recent work stoppage by the United Auto Workers (UAW) union impacted the company’s ability to meet its financial targets. On Thursday, October 26, Ford Motor Co (NYSE: F) reported its Q3 2023 earnings while missing Wall Street expectations. The company has been restructuring its operations and regrouping after the conclusion of nearly six weeks of US labor strike that cost the company a staggering $1.3 billion. Ford in Q3 2023 In the third quarter, Ford reported a shift to net income, posting $1.2 billion, equivalent to 30 cents per…
Under the Act, companies building and deploying AI models would need to perform risk assessments and label AI-generated content. European Union (EU) negotiators are reportedly discussing placing additional restrictions on large artificial intelligence (AI) models as part of the upcoming AI Act. According to a Bloomberg report, representatives from the European Commission, European Parliament, and EU countries are in talks to implement a plan that would address the issues associated with large language models (LLMs) such as OpenAI’s GPT-4 and Meta’s Llama 2 all while making sure that new startups…
A former manager at nonfungible token (NFT) marketplace OpenSea sentenced to three months in prison for insider trading has opted to serve the sentence while his appeal is pending. On Sept. 6, Nathaniel Chastain’s lawyers filed a letter with a New York District Court informing the judge that Chastain decided to withdraw his application for bail pending appeal. As a result, per the court’s previous order and judgment, Chastain will self-surrender by Nov. 2 to begin serving his sentence while his appeal is pending. Screenshot of the letter from Chastain’s…
The Eighth Judicial District Court of Nevada has granted a petition from the state’s Financial Institutions Division (NFID) placing crypto custodian Prime Trust into receivership, pending a hearing to show cause. In a July 14 filing, the Nevada court ordered the appointment of a receiver for Prime Trust following a June 26 petition from the state financial regulator. Prime Trust will have an opportunity to show cause why the petition should not be permanently granted in an Aug. 22 hearing. “The court appointed receiver will take over the day-to-day operations…
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