Finance and Business News

Under the terms of a new agreement with the United States Department of Defense, a crypto data analysis company Inca Digital’s government contracting division, Inca Digital Federal is doing research on the potential effects that digital assets may have on national security. According to Inca Digital’s announcement, the company will collaborate with the Defense Advanced […]

A lawsuit has been filed against Aiden Pleterski, a self-described “Crypto King” and 23-year-old Canadian trader, for allegedly not returning at least $35 million to his customers. The Ontarian’s $2 million worth of assets, including two McLarens, two BMWs, and a Lamborghini, have already been taken by authorities. The so-called Crypto King operated a company […]

Decentralized database infrastructure provider Kwil has generated $9.6 million in a funding round co-led by the investment arm of Sam Bankman-Fried FTX and venture capital firm Digital Currency Group (DCG). According to a filing with the United States Securities and Exchange Commission (SEC), the funding round closed at exactly $9,674,000.  Blockchange, AlleyCorp, and Amplify Partners […]

Following a court ruling in the United States for the Southern District of New York, America’s tax regulator Internal Revenue Service (IRS) has received permission to issue a ‘John Doe’ summon to some banks. The banks in this category are those that have customers who have failed to fulfill their crypto tax obligations. Autonomously, the […]

State watchdogs have questioned the troubled crypto lending platform Celsius Network over alleged “financial mismanagements.” In a recent development, Stephen Manning, assistant attorney general for Washington, moved Judge Martin Glenn on September 22 to represent the Washington State Department of Financial Institutions. The filing read: “I certify that I am a member in good standing […]

Fifty-four years old Singaporean leading consumer bank DBS announced the launch of a self-directed crypto trading function on its DBS digibank mobile app. The feature will only be available to wealthy clients who are qualified and accredited. From analysis, the bank has discovered that about 100,000 Singapore investors meet up with the laid out criteria […]

Hong Kong-based gaming software company and venture firm Animoca Brands has tapped Jared Shaw as its Chief Financial Officer. The firm also made a number of changes in its senior management team according to a recent press release. Jared, a Chartered Financial Analyst with over 20 years of experience spanning across traditional finance, fintech, and […]

JPMorgan Chase CEO Jamie Dimon described himself as a “major skeptic” of “crypto tokens that you call currency like Bitcoin” while speaking before US Congress and referred to them as “decentralized Ponzi schemes.” During an inspection hearing convened by the House Financial Services Committee on September 21, Dimon was questioned about his reasons for not […]

The strategy to compensate clients, which involves releasing new wrapped assets to trade on other platforms, is further described in a freshly leaked recording of Celsius Network’s leadership. In the recording provided by Tiffany Fong, the Celsius customer and public figure charged with sharing the earlier leaked all-hands meeting recording, the company’s co-founder and CTO […]

According to reports, C Capital, a company founded by billionaire Adrian Cheng of Hong Kong, plans to raise $500 million to invest over the next 18 months in digital currencies, credit, and private equity. C Capital intends to launch a $200 million blockchain fund and allocate about $300 million into private equity and private credit […]

As the global adoption of the crypto streak continues, the government of Colorado State has now gotten onboard as it now allows all tax payments in crypto assets. This is according to news shared on the state’s website. Since the state can not directly accept crypto payments it partnered with payment processing giant PayPal to […]

Financial services juggernaut Nasdaq recently revealed the creation of a brand-new division devoted to the expanding cryptocurrency market. The new division, named Nasdaq Digital Assets aims to provide a new opportunity for institutional participants to explore the asset class. According to a recent report by Bloomberg, Nasdaq has also appointed exchange giant Gemini’s former broker […]

In order to acquire loans during the market upheaval, the bankrupt crypto lender Voyager Digital has signed a non-binding term agreement with Sam Bankman-Fried’s quantitative trading company Alameda Research. The first portion of Voyager’s line of credit, according to the announcement, consists of a mix of cash and a USDC-based credit facility with a total […]

According to a press release published on Monday, Hong Kong has extended an invitation to companies that are interested in participating in security token offerings (STO) to share their proposals with the Securities and Futures Commission (SFC), the regulatory agency’s Financial technology department head Elizabeth Wong told digital assets industry last week. A security token […]

The United States Securities and Exchange Commission (SEC) has recently launched a lawsuit against two advisory firms and their founders for running a Ponzi digital asset scheme. The SEC alleges that the defendants misled investors by claiming that their money would be invested in discounted digital assets. They allegedly did not intend to follow through […]

The co-founder of Terraform Labs Do Kwon finally spoke up when news leaked that South Korean police had issued an arrest warrant for him, saying he was cooperating with various international watchdogs. We are in the process of defending ourselves in multiple jurisdictions – we have held ourselves to an extremely high bar of integrity, […]

Renowned Web3 compliance firm Satschel has recently announced that it has secured $5.2 million in a seed-funding round led by early-stage VC firm Brand Foundry Ventures. A Tuesday press release states that Satschel uses web3 technologies to assist financial services organizations to comply with local laws. Satschel’s automated Compliance Fabric technology allows investors and clients […]

Following Ethereum’s merge, Grayscale Investments now has the legal ability to issue Ethereum Proof of Work tokens to holders in the form of cash, the asset manager said in a Securities and Exchange Commission (SEC) filing on Friday. Grayscale aiming rights to ETHPoW On Thursday, when Ethereum switched to proof of stake, ETHPoW, a fork […]