Bitfinex, a well-known digital asset trading platform, has recently unveiled its latest offering, Bitfinex P2P. This peer-to-peer platform is set to cater initially to markets in Venezuela, Argentina, and Colombia. It allows customers to directly trade various cryptocurrencies such as Bitcoin (BTC), Tether tokens (USDT and EURT), Tether Gold (XAUT), and Ethereum (ETH) while facilitating
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In a recent op-ed, Bloomberg columnist Matt Levine delves into the extravagant spending habits of cryptocurrency exchange FTX, shedding light on the allure of celebrity endorsements and influential connections within the crypto industry. According to Levine, FTX is perhaps the best example among companies in the crypto sector that have recognized the potential of associating
The CEO of BitGo, Mike Belshe, recently spoke about the state of cryptocurrency regulations in the United States, expressing his views on the matter. Belshe believes that regulators in the U.S. have adopted a strict approach towards the crypto industry. This approach has led institutions and institutional investors to prioritize compliance with regulations. Belshe acknowledges
The Law Commission of England and Wales has recommended that digital assets, including cryptocurrencies, should be classified as a distinct category of personal property. In its final recommendation report, published on June 28, the Law Commission put forth four specific recommendations to the government. The first recommendation emphasized the need for legislation to recognize cryptocurrencies
BitGo CEO, Mike Belshe, recently announced that despite abandoning the Prime Trust deal, the company has multiple other acquisitions in progress. In an interview with CoinDesk TV, Belshe mentioned that there are pending acquisitions that have not been publicly announced yet. He also predicted that the cryptocurrency industry would witness consolidation within the next six
Robinhood, the online brokerage firm, is undergoing its third wave of layoffs, resulting in a reduction of approximately 7% of its full-time employees. The decision comes as the company faces a decline in customer trading activity and follows the controversial delisting of three major cryptocurrencies. The Wall Street Journal originally reported these developments. In an
The Swiss Central Bank, under the leadership of Chairman Thomas Jordan, has recently made an announcement concerning the launch of a wholesale central bank digital currency (CBDC) pilot. This pilot program will be conducted on Switzerland’s SIX digital exchange and is set to commence in the near future, as reported by Reuters. Chairman Jordan revealed
Japan’s National Tax Agency has recently revised its corporate tax rules for issuers of cryptocurrency. The updated regulations exempt crypto token issuers from paying corporate tax on unrealized gains for their holdings as long as two conditions are met. Firstly, the tokens must be issued by the firm and held continuously since issuance. Secondly, the
Creditors of the bankrupt crypto lending firm, Celsius Network, have amended their class-action lawsuit to include algorithmic trading firm, Wintermute. The plaintiffs now allege that Wintermute aided Celsius in wash trading, an illegal activity where the same crypto or security is sold and bought to generate misleading market information. The latest court filing shows Wintermute
The influence of United States Government bonds, also known as Treasurys, is far-reaching beyond the financial markets. The cost of capital attributed to U.S. dollars affects every loan, mortgage, and even cryptocurrency derivatives. But what happens if the U.S. government defaults on its debt, and there is no interest debt payment? This scenario could trigger
