TLDR The UK House of Commons Treasury Committee has recommended that the Bank of England and HM Treasury conduct further detailed consultations. Significant costs have been incurred in the preliminary stages of exploring a CBDC, prompting the committee to call for greater transparency in reporting these expenses. The committee has expressed concerns about the high
TL;DR Breakdown Phoenix Group, a prominent cryptocurrency mining firm, is gearing up for its much-anticipated debut on the public market following a highly successful pre-market sale. The company’s initial public offering (IPO), initially scheduled for Dec. 4, 2023, on the Abu Dhabi Securities Exchange (ADX), has been postponed to Dec. 5, 2023. This change comes […]
TL;DR Breakdown OpenAI, a leading artificial intelligence research firm, is embroiled in a significant internal crisis. The company’s workforce has threatened mass resignation if former CEO Sam Altman is not reinstated. This development follows a series of tumultuous events, including Altman’s removal and subsequent partnership with Microsoft to lead an advanced AI research team. Employee […]
TL;DR Breakdown Swan Bitcoin, a notable platform in the Bitcoin services sector, has recently announced a significant shift in its operational policies. The change, driven by the proposed regulations from the United States Financial Crimes Enforcement Network (FinCEN), necessitates the company to take a strict stance against accounts engaged in crypto-mixing. This move highlights the […]
TL;DR Breakdown The Ministry of Culture and Information of Kazakhstan has officially confirmed the blocking of the Coinbase website, intensifying its regulatory grip on the cryptocurrency sector. This action underlines the country’s rigorous enforcement of its new Law on Digital Assets, effective since February 2023, which demands a national license for crypto trading and exchange […]
TL;DR Breakdown Bittrex, the once-popular Seattle-based cryptocurrency exchange, has received the green light to commence its Chapter 11 liquidation plan. The approval from the US Bankruptcy Court for the District of Delaware comes after a meticulous process characterized by multiple hearings, motions, and supplemental plans. However, the path to this clearance wasn’t smooth. The court […]
TL;DR Breakdown Ark Invest’s Cathie Wood has offloaded shares of Coinbase Global Inc., even as Bitcoin prices surge, touching a high of $34,878.65 recently. This significant 15.2% spike within 24 hours contrasts sharply with Ark Invest’s decision. Specifically, the firm disposed of approximately 42,613 Coinbase shares through its ARK Next Generation Internet ETF and Ark […]
TL;DR Breakdown Coinbase, a major U.S.-based cryptocurrency exchange, is streamlining its operations by suspending 80 non-USD trading pairs. This significant step, announced on October 16, is part of an effort to enhance overall market health by consolidating liquidity. Affected trading pairs span various cryptocurrencies, including Bitcoin and Tether USDT, as well as fiat currencies like […]
TL;DR Breakdown In the wake of escalating conflict with Hamas, a collective of Israeli leaders in the Web3 and crypto domain have initiated the Crypto Aid Israel fund. This fund aims to extend humanitarian support to Israelis displaced by the ongoing strife. The fundraising drive, which commenced on October 9, is set to gather donations […]
The Fintech Festival Thailand 2023, a networking event that covers a broad spectrum of industrial topics, including banking, payments, personal finance, digital assets, Web3, blockchain, and investments, faced an interruption when the Central Investigation Bureau (CIB) in Bangkok raided the venue. This action by the CIB underscores Thailand’s regulatory oversight of financial entities in the fintech […]
