Ex-FTX Exec Lands at Payments Tech Company Nuvei
FTX’s former global head of payments has resurfaced as an executive at payments technology company Nuvei weeks after the crash of his ex-employer. Nuvei is a public company that connects businesses to customers via 150 currencies and nearly 600 alternative payment methods. The company acquired crypto payments company Simplex for $250 million last year. (Blockworks)
Crypto Will be Regulated as Securities — ICE Boss and Senator Warren
Most cryptocurrencies are likely to be regulated as securities in the United States according to the CEO of Intercontinental Exchange Inc (ICE), Jeffrey Sprecher, and Senator Elizabeth Warren. Speaking on Dec. 6 at the financial services conference by Goldman Sachs Group Inc, Sprecher — whose ICE operates the New York Stock Exchange — confidently stated crypto assets are “going to be regulated and dealt like securities." (Cointelegraph)
Lawmaker Pleads With Sam Bankman-Fried to Attend Congress Hearing on FTX — SBF Says He'll Testify When He's Ready
Congresswoman Maxine Waters, chair of the House Committee on Financial Services, has politely asked former FTX CEO Sam Bankman-Fried (SBF) to attend a congressional hearing on the collapse of his cryptocurrency exchange. Bankman-Fried says he will testify when he has finished “learning and reviewing what happened.” (Bitcoin.com)
Nigeria Bans ATM Cash Withdrawals Over $225 a Week to Force Use of CBDC
Nigeria has drastically reduced the number of cash individuals and businesses can withdraw as it attempts to push its “cash-less Nigeria” policy and increase the use of the eNaira — Nigeria’s Central Bank Digital Currency (CBDC). The Central Bank of Nigeria issued the directive to financial businesses in a Dec. 6 circular, noting that individuals and businesses would now be limited to withdrawing $45 (₦20,000) per day and $225 (₦100,000) per week from ATMs. (Cointelegraph)
Fir Tree Fund Sues Grayscale in Effort to Force Changes to Bitcoin Trust
Fir Tree Capital Management has filed a lawsuit against Grayscale Investments demanding information that could be used to force changes to the way it runs its flagship Bitcoin Trust. According to Bloomberg, a Dec. 6 complaint was filed against Grayscale at the Delaware Court of Chancery and seeks to have Grayscale lower its fees, start redemptions and hand over documents relating to its relationship with the Digital Currency Group. (Cointelegraph)
CNBC’s Jim Cramer Says It Is Time To Sell All Crypto Holdings
Jim Cramer has urged investors that it is time to sell their crypto holdings, adding that it was not yet late to do so.
Safety Best Practices for Crypto Users to Avoid Being a Victim of DeFi Hacks
Hacks are inevitable in DeFi. It is a part of the risk of venturing into the unknown DeFi land.
“Wolf of Wall Street” Jordan Belfort Warns Investors to Stay Away From Crypto Except for BTC and ETH
Belfort advised that such investors first evaluate their initial reasons for making such investments and check if they still have enough to keep HODLing them.
The Solution to the Millenium Price Problem of Crypto Is Here, and It’s Not What You Expect
A new blockchain, a blockchain like nothing we’ve ever seen before, is coming into existence to solve this problem.
North Korean Lazarus Group Is Targeting Crypto Funds With a New Spin on an Old Trick
Microsoft reports that a threat actor has been identified targeting cryptocurrency investment startups. A party Microsoft has dubbed DEV-0139 posed as a cryptocurrency investment company on Telegram and used an Excel file weaponized with “well-crafted” malware to infect systems that it then remotely accessed.
