According to a report from South Korea, the Korean subsidiary of Huobi Global is planning to cut ties with the parent company. The management of the trading platform stated that they plan to “strengthen its position” as a domestic cryptocurrency exchange and change its name. Huobi Experiences Significant Withdrawals as Subsidiary Huobi Korea Looks to
Month: January 2023
Ripple Labs’ Managing Director for Europe, Sendi Young, shared her predictions for 2023 in a Twitter thread. As Young notes, 2022 was a “monumental” year for crypto with many ups and many downs. Young expects no less major changes in the still-young year, though she doesn’t specifically address Ripple and XRP. However, a few connections
Investors across asset classes have been keeping a close watch on the United States Federal Reserve’s monetary policy because that sets the stage for a risk-on or a risk-off environment. The strong rally in the U.S. stock markets on Jan. 6 and in cryptocurrencies over the weekend suggests that market observers anticipate the Fed to
Xiao Yi, the former Chinese Communist Party secretary of Fuzhou, has confessed to “acting recklessly” in support of crypto mining during a state-run television broadcast. In an interview released by state-run media on Jan. 8, Xiao seemed to speak with a very subdued voice from what appeared to be prison, apologizing for being a “sinner”
Ethereum’s native token, Ether (ETH), rose to three-week highs, rallying in lockstep with the broader cryptocurrency market, as well as stocks. ETH price rises to three-week highs On Jan. 9, ETH’s price rose 2.85% to cross above $1,325 for the first time in three weeks, a key level that could pave the token’s path toward $1,350
The U.S. Federal Reserve has raised the benchmark bank rate seven times during the course of 2022, leading many to question when the central bank will cease or change course. The Fed has stated that it aims to bring inflation down to the 2% target, and the increases to the federal funds rate are intended
The government of Hong Kong remains committed to the development of cryptocurrency infrastructure despite the ongoing industry crisis triggered by the FTX collapse. According to Hong Kong’s financial secretary Paul Chan, the local government and regulators are open to collaboration with crypto and fintech startups in 2023. Speaking at an event hosted by the state-run
Australian crypto exchange Swyftx is set to shutter its crypto-interest product this week, citing a “constantly changing regulatory landscape” for crypto products in the country. From Jan. 10, the crypto exchange will cease to operate the “Earn” program, with users having their entire Earn balances returned to their trade wallets. Swyftx said while the decision might
Authorities in Vietnam have caught and sentenced a hacker who stole money and data from a local cryptocurrency exchange. The man, who was arrested and charged for extorting the trading platform’s owner, has been ordered to return the money he misappropriated. Vietnamese Court Jails Hacker for Attacking Crypto Exchange Website A resident of Ho Chi
From the start of March, Nigerian public officials will be barred from withdrawing cash from government bank accounts, the head of the Nigerian Financial Intelligence Unit reportedly said. Public officials that want to be exempted from this new regulation will have to obtain a waiver from the Nigerian Presidency. Government Workers Vulnerable to Money Laundering
OpenSea, a leading marketplace for digital collectibles and non-fungible tokens (NFTs), has announced support for Arbitrum Nova, a Layer 2 blockchain that aims to provide low-cost data availability. Arbitrum Nova, a new addition to the Arbitrum ecosystem, is intended to be the premier choice for Web3 gaming and social applications. Together with Arbitrum One, which
In the spring of 2022, the Central African Republic (CAR) became the first African country to adopt Bitcoin (BTC) as a legal tender. As the second country globally to recognize Bitcoin in such a fashion, the CAR followed in El Salvador’s footsteps. El Salvador has since boasted surging tourism numbers, a resilient economy and a
Fourteen years after Bitcoin’s genesis block launched a profound disruption in financial services and other industries through the rise of blockchain technology, United States authorities are finally becoming more interested in cryptocurrencies’ future and economic impact. On Dec. 14, the Financial Accounting Standards Board discussed new accounting and disclosure requirements for entities holding crypto assets in
2023 is off to a rough start, with crypto business bankruptcies, inflation, and recession impacting markets and looming darker on the horizon. Rich Dad Poor Dad author Robert Kiyosaki says that other than bitcoin, the Unites States Securities and Exchange Commission is going to “crush” most cryptos with regulations. Other investors and economists such as
Huobi cryptocurrency exchange has confirmed plans to lay off 20% of its employees as part of the ongoing restructuring following Justin Sun’s acquisition of the firm. “The planned layoff ratio is about 20%, but it is not implemented now,” a spokesperson for Huobi said in a statement to Cointelegraph on Jan. 6. The representative emphasized
The United States Securities and Exchange Commission and Commodity Futures Trading Commission and prosecutors are reportedly investigating former FTX engineering director Nishad Singh for potentially having a role in defrauding investors and users. According to a Jan. 5 report from Bloomberg, U.S. officials are looking at individuals in former FTX CEO Sam Bankman-Fried’s inner circle as
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