Just-In: Crypto Giant Nexo Sued For Blocking $126M User Funds
According to a recent report, a group of investors is suing crypto lender Nexo in the London High Court on the grounds that the crypto firm prevented them from withdrawing over $126 million in cryptocurrency. The three investors, cousin Shane Morton, and brothers Jason and Owen Morton, claim that Nexo froze their accounts when they attempted to transfer their assets off the platform.
Singapore’s Watchdog Says Binance Placed on Investor Alert List Over FTX Due to Unlicensed Activity
The MAS revealed Binance was placed on the IAL because it actively seeks Singaporean users and has features that could be misinterpreted to mean it is licensed by the regulator.
First Latin American Bank Joins Blockchain-Based TradeAssets
Banco Latinoamericano de Comercio Exterior (Bladex), a Latin American and Caribbean countries bank, informed on Monday that it had entered into a partnership agreement with Dubai-based TradeAssets blockchain platform for financial institutions operated by Fintech Innovations International DMCC.
FTX Owes Over $3 Billion to 50 Largest Creditors: Court Filing
Collapsed crypto exchange FTX owes nearly $3.1 billion to its top 50 creditors, as per filing from its Chapter 11 bankruptcy protection proceedings. It was earlier reported that the company may have more than one million creditors in total.
SEC At Fault In Grayscale (GBTC) Bitcoin Proof Of Reserves Issue?
Grayscale Investments, the world’s largest crypto asset manager, is facing backlash from the crypto community for not revealing its proof of reserves. Meanwhile, industry experts are blaming it on the regulatory landscape for the loss of trust around transparency in Grayscale’s Bitcoin products. Earlier in June this year, the U.S. Securities and Exchange Commission (SEC) rejected Grayscale’s spot Bitcoin ETF application. Following the rejection, the company challenged the SEC’s decision in the form of a lawsuit.
First Official DAO in the US To Fight SEC Without Attorneys
The first official decentralized autonomous organization (DAO) in the United States is taking on the Securities and Exchange Commission (SEC) over its 2021 token registrations.
SHIB Adds 50,000 New Holders in a Month As Investors Brush Off Price Decline
Despite the entire cryptocurrency sector still feeling heavy aftershocks of the earthquake caused by the FTX liquidity crunch, dog meme coin Shiba Inu (SHIB) hasn’t seemed to suffer any losses in the number of investors – quite the opposite.
Brazilian Bank Itau Unibanco to Offer Cryptocurrency Custody Services in 2023
Itau Unibanco, one of the biggest Brazilian banks, has announced it will offer cryptocurrency custody services in 2023. Itau Digital Assets, the cryptocurrency unit of the company, will be responsible for this offering, which will be first available to customers of the bank, and then to third parties as a service.
New Kenyan Law Seeks To Introduce Income Tax for Cryptocurrency Traders
Kenya is the latest country to show intent to regulate the <a href="https://finbold.com/category/cryptocurrency-news/">cryptocurrency sector</a> targeting the taxation of digital currency transactions as the industry expands.
Tuition Coin Announces Teach to Earn on Cardano
Tuition Coin, a novel Crystal Chain product, is the newest Teach to Earn project on the Cardano blockchain. Designed to incentivize further participation in educational technology, Tuition Coin powers a new system that will benefit both teachers and students.
