Sam Bankman-Fried, the founder of FTX, has been found guilty by a federal jury on charges related to the collapse of the cryptocurrency exchange. The jury's decision comes after deliberations on a series of charges, including wire fraud, securities fraud, and money laundering, connected to the mismanagement of FTX customer funds and unreported cryptocurrency investment risks. … [Read more...] about FTX founder Sam Bankman-Fried found guilty on fraud charges
Kraken to submit customer data to IRS, tightening regulatory oversight
Kraken, one of the world's largest cryptocurrency exchanges, has begun informing its users that it will start providing their trading data to the Internal Revenue Service (IRS) starting this November. This decision comes as regulatory bodies intensify their oversight over cryptocurrency transactions, underscoring the increasing scrutiny the sector faces regarding tax compliance … [Read more...] about Kraken to submit customer data to IRS, tightening regulatory oversight
Tether steps up transparency, commits to real-time reserve disclosures
In a significant shift toward transparency, Tether, the company behind the world's most prominent stablecoin USDT, has announced it will start providing real-time disclosures of its reserves. This landmark decision comes as Paolo Ardoino, Tether's incoming CEO, prepares to take the helm of the $84 billion cryptocurrency giant. … [Read more...] about Tether steps up transparency, commits to real-time reserve disclosures
Harnessing digital speedways: Ferrari integrates cryptocurrency payments
Embracing a transformative financial shift, Ferrari, the epitome of Italian luxury sports cars, boldly integrates cryptocurrency payments into its fiscal repertoire in the United States. The synergy between cutting-edge automotive technology and groundbreaking financial modalities signals a paradigm shift in the luxurious consumer market, blurring the lines between tangible … [Read more...] about Harnessing digital speedways: Ferrari integrates cryptocurrency payments
Binance and Royal Thai Police unite to dismantle crypto scam and recover over $270 million
Binance, the world’s leading cryptocurrency exchange, recently assisted the Royal Thai Police to dismantle an extensive criminal network, leading to the recovery of over $270 million, which marks one of the largest victories against cryptocurrency-related crime. … [Read more...] about Binance and Royal Thai Police unite to dismantle crypto scam and recover over $270 million
MetaMask bridges the crypto-fiat gap with new cash-out feature
In a defining move, MetaMask, the renowned Ethereum-based crypto wallet, has rolled out a feature allowing users to seamlessly convert their cryptocurrency into fiat currency and transfer it directly to their bank accounts or PayPal. This move comes as the digital currency realm witnesses a massive surge in mainstream adoption. … [Read more...] about MetaMask bridges the crypto-fiat gap with new cash-out feature
Grayscale gains momentum: court decision paves way for first spot bitcoin ETF
A significant legal milestone has been achieved that could soon lead to the debut of the first spot Bitcoin ETF. Grayscale, a leading cryptocurrency asset management company, has secured a pivotal court ruling in its favor against the U.S. Securities and Exchange Commission (SEC). … [Read more...] about Grayscale gains momentum: court decision paves way for first spot bitcoin ETF
PayPal introduces PYUSD, its own US dollar-backed stablecoin
In a bold move into the burgeoning world of digital assets, global payment giant PayPal has announced the launch of PYUSD, its own U.S. dollar-backed stablecoin, according to an official press release. The PYUSD stablecoin is positioned as an essential building block in PayPal’s broader strategic push into the cryptocurrency sector. … [Read more...] about PayPal introduces PYUSD, its own US dollar-backed stablecoin