Binance.US to Bid for Crypto Lender Voyager, CZ Confirms
Binance CEO Changpeng "CZ" Zhao has confirmed that the exchange's U.S. wing will be making a fresh bid for crypto lender Voyager now that the defunct FTX is unable to follow through with acquiring it.
IMF Blog: Better Regulation of Africa's Growing Crypto Market Urgently Needed
A well-regulated African cryptocurrency market is needed in order to protect users as well as help countries stop bad actors from using digital assets to circumvent capital controls, the latest post on the IMF blog has said. The blog post reiterated the IMF’s belief that risks to a country are “much greater if crypto is adopted as legal tender.”
Russia Intends To Launch a ‘National Crypto Exchange’
Russian lawmakers are working on amendments to launch a national crypto exchange. This effort is reportedly supported both by the Ministry of Finance and the Central Bank of Russia which have a long history of disagreement over crypto regulation in the country.
Binance Targets $1B Recovery Fund for Distressed Crypto Assets: Bloomberg
Binance is targeting $1 billion or more for a previously announced recovery fund to buy distressed crypto assets, CEO Changpeng "CZ" Zhao said in an interview with Bloomberg Television on Thursday.
Hex Trust Bags Virtual Asset License From Dubai
Digital asset custodian Hex Trust received the Minimum Viable Product (MVP) license from Dubai’s Virtual Assets Regulatory Authority (VARA) on Nov. 24, according to a press release by the company.
The Bahamas Regulator Justifies Move to Cease Local FTX Clients' Assets
The Securities Commission of The Bahamas on Wednesday released a statement justifying its move to cease the customer assets of the local FTX entity, FTX Digital Markets Ltd (FDM). It came after several questions were raised against the action of the Bahamian regulator.
Cardano Stablecoin Ecosystem Ardana Suddenly Halts Development
Ardana, a decentralized ecosystem on Cardano, has halted its development, much to the dismay of the crypto community. The project tweeted on Nov. 24 that “recent developments with regards to funding and project timeline uncertainty” were the reasons behind the halt. It did note that the code would remain open source and that others could build upon it if they wished.
Deloitte: Metaverse Could Add $1.4 Trillion a Year to Asia's GDP
Deloitte estimates the metaverse could add $1.4 trillion to Asia’s GDP annually by 2035. Noting that the metaverse market could be as large as $13 trillion by 2030, the global financial services firm said: “The metaverse is no longer science fiction. Early metaverse platforms are already being used by millions.”
Recent FTX Hacks Prove it was Right to ‘Secure’ its Assets: Bahamian Regulator
The Securities Commission of The Bahamas says the continued “hacking attempts” on FTX’s digital assets prove they made the right call to take control of the exchange’s assets on Nov. 12. In a statement on Nov. 23, the commission said the fact that FTX's "systems were compromised, and that they continue to face new hacking attempts – reinforces the wisdom of the commission's prompt action to secure these digital assets." (Cointelegraph)
Digital Currency Group Seeks to Calm Investors Over Intercompany Loans: Reports
Barry Silbert, chief executive officer of Digital Currency Group (DCG), disclosed his company owes a US$575 million loan and a US$1.1 billion promissory note to its subsidiary Genesis Global Capital, the struggling crypto lender that paused withdrawals and new loans on Nov. 16. This was told to investors via a letter seen by the Wall Street Journal. (forkast)
