Warning Cookies are used on this site to provide the best user experience. If you continue, we assume that you agree to receive cookies from this site. OK

Unverified ETF, Legaled FTX, Blamed SEC and 20 Crypto Jokes

today 10/21/2023
This week in the cryptocurrency world, several significant events occurred. Bitcoin experienced a surge in price due to unverified rumors of the US SEC approving BlackRock's iShares spot Bitcoin ETF application. The cryptocurrency Sui faced difficulties as its price reached all-time lows. Additionally, the Depository Trust & Clearing Corporation acquired blockchain startup Securrency Inc. in a deal worth $50 million. The case against Sam Bankman-Fried, the founder of FTX, continued as the prosecution revealed telling Twitter messages from him. The former head of engineering testified that FTX paid $1.13 billion in endorsement deals. Moreover, a detailed analysis of FTX and Alameda Research's financial past was revealed by a University of Notre Dame accounting professor. The FTX bankruptcy estate staked over SOL 5.5 million valued at $122 million, and customers of FTX and FTX.US may reclaim more than 90% of their assets through an amended proposal. In other news, Trezor launched two new products, including a limited-edition Bitcoin wallet that sold out quickly. Ryder raised $1.2 million and introduced the Ryder One hardware wallet with a unique recovery system. OMA3 formed a working group to standardize creator royalties on NFT marketplaces. WAX's NFT game Brawlers launched on Fortnite's Epic Games Store, while Bandai Namco suspended downloads of Gundam Metaverse due to a major leak. Despite the bear market, Web3 gaming continued to attract investor attention. In the US, the California Governor signed a crypto licensing bill into law, effective from July 2025. The New York Attorney General filed a complaint against Gemini, Genesis, and DCG for defrauding customers. The Treasury imposed sanctions on a crypto exchange in Gaza involved in Hamas fundraising. SEC Chairman Gary Gensler confirmed that the staff is working on multiple Bitcoin ETF filings. Matrixport predicted that BTC could reach $42,000 if the BlackRock Bitcoin ETF is approved, and Cathie Wood blamed Gary Gensler for obstructing spot Bitcoin ETFs. Edward Snowden spoke about the risks of Bitcoin ETFs at the 2023 Bitcoin Conference. In international news, Russia's Sber announced its participation in the Central Bank's digital ruble pilot. Major Japanese businesses requested crypto tax reforms in Japan. South Korea aimed to establish comprehensive guidelines for the issuance and distribution of cryptocurrencies. South Korean prosecutors sought the death penalty for four suspects involved in a crypto murder-kidnap case. Israel ordered a freeze on hundreds of crypto accounts and seized millions in crypto to block funds to Hamas. Tether froze 32 addresses related to events in Israel and Ukraine, totaling $870,000. Coinbase chose Ireland as its main European hub due to regulatory pressure in the US. Bitpanda obtained a license to offer virtual asset services in Norway. Upbit received in-principle approval for a Major Payment Institution license from the Monetary Authority of Singapore. The general manager of Binance France decided to step down from her role. Lastly, a series of crypto-related jokes were shared on social media.
Stay Connected
Подпишитесь на нашу рассылку и получайте информацию о выходе новых статей, информацию об эксклюзивных скидках и другое
Или же подпишитесь на наш Telegram, чтоб всегда быть в курсе наших новостей.

Recent posts


Singapore, China to Begin Piloting Digital Currency in Tourism Spending Push

The Monetary Authority of Singapore (MAS) and China are set to pilot the digital currency "E-CNY," also known as the digital yuan, in an effort to promote tourism spending. This collaboration stems from a Memorandum of Understanding signed between the two countries in 2020. The digital currency, developed by the People's Bank of China, MAS, and the Digital Currency Institute of the People's Bank of China, will enable travelers from Singapore and China to use E-CNY for tourism purposes in both countries. The discussions regarding this digital currency took place at the 19th Joint Council for Bilateral Cooperation in Tianjin. The E-CNY is China's digital version of the yuan, primarily designed for domestic retail payments. It aims to fulfill the public's need for cash in the digital economy era and support the development of retail payment infrastructure. While China has been testing the currency domestically, it plans to explore cross-border payment programs in the future. Singapore's central bank's managing director, Ravi Menon, has expressed that private cryptocurrencies lacking fundamental financial service tests will eventually diminish, emphasizing the importance of central bank digital currencies, tokenized bank liabilities, and well-regulated stablecoins in the future monetary system. The collaboration between Singapore and China also includes the launch of an exchange-traded funds link between the Singapore Exchange and Shanghai Stock Exchange. Furthermore, the two countries have agreed to implement a 30-day mutual visa exemption agreement next year, enhancing their trade pact.

Binance Withdraws Application for Abu Dhabi License, Reassessing Compliance Needs

Binance has withdrawn its application for a financial license in Abu Dhabi as part of its reassessment of global operations and compliance requirements. The application, submitted by BV Investment Management, a Binance unit, aimed to manage collective investment funds. The decision to retract the application was made to align with the company's revised compliance needs. Binance's former CEO, Changpeng Zhao, who acquired UAE citizenship, has pleaded guilty in an anti-money laundering case and requested to return to the UAE before his sentencing. Binance has also ceased operations in several other countries, including Germany, Cyprus, the Netherlands, Belgium, and Russia, due to regulatory compliance efforts.

More Major South Korean Exchanges Begin Listing USDT

Several major South Korean cryptocurrency exchanges have started listing the US dollar-pegged stablecoin USDT as trading volumes increase. Bithumb, the second-largest exchange in the country, added support for USDT on December 7, following Coinone's listing on November 30. Both exchanges support USDT on the Tron blockchain protocol. South Korean exchanges have faced scrutiny in recent years and have been pressured to delist certain coins. Despite concerns about Tether's USD reserves, the South Korean exchanges seem unfazed and believe investors can check the audit reports and reserve details. USDT is popular in South Korea and Asia, where it is used for trading Bitcoin on peer-to-peer markets. Bithumb hopes that the USDT listing will help improve its financial results. As part of the listing event, Bithumb is offering customers fractional Bitcoin rewards for maker orders. This development comes after a customs service raid on an international gambling ring that used USDT. Officials suspect that the ring paid online casino users in USDT, which was then exchanged for fiat on an illegal crypto exchange in the Philippines.

Over 1,000 Bitcoins from Satoshi Era Mined in 2010 Moved to Trading Desks

More than 1,000 Bitcoins that were mined in 2010 during the early days of Bitcoin have been moved to trading desks. The transaction involved inputs from multiple addresses and the coins were consolidated into a separate address. The value of the coins at the time of mining was only $100, but they are now worth over $43 million. It is speculated that the original owner of the coins, who may have been a Bitcoin pioneer, has now sold them. The movement of old Bitcoins is not uncommon, as similar transactions have occurred earlier this year. These coins are typically considered lost by their former owners. Despite the reluctance of long-term holders to sell their coins at current prices, the price of Bitcoin remains higher than the average acquisition price.