Finance and Business News

On Monday, the United States Attorney’s Office in California revealed in a press release that Dropil co-founders were sentenced to federal prison for scamming investors to steal around $1.9 million. During 2017’s crypto ICO craze, Jeremy McAlpine and Zachary Matar founded a crypto company established in Belize and operating in California, dubbed Dropil. The company developed […]

As one of the most forward-thinking regulators in the world, the Monetary Authority of Singapore (MAS) is on track to consult with the public regarding the regulations of stablecoins in the country.  This revelation was made by Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS, who was grilled by lawmakers on the state […]

Justice Aedit Abdullah granted a moratorium to the Singapore-based cryptocurrency lender Vauld Group that would last until November 7. The company will benefit from some relief from the action because its 147,000 creditors will no longer be able to sue the company. The firm requested extra time during the court hearing on Monday. Due to […]

The United States has decided to give up to $10 million for providing valuable information in connection with North Korean crypto hacking groups. This amount is double the $5 million bounty promised by the country in March this year. The American government has been dealing with North Korean cyber groups for years. Such entities were responsible for […]

A recent global crypto readiness report explored the digital asset regulations and taxations rules in each country, the number of blockchain startups, the number of crypto ATMs, and the interest in the market per capita to find the most crypto-ready country in the world this year. The shocking revelation states that the special administrative region of China […]

Months after the attack on the Ronin Network, it was reported by Bloomberg that Trung Nguyen, the co-founder and CEO of the video game Axie Infinity, moved $3 million worth of AXS, the game’s native token, to the major cryptocurrency exchange platform Binance hours before the hacking incident was made public. Nguyen recently acknowledged transferring $3 million worth of […]

Crypto gaming company Immutable has reportedly laid off more than 20 employees from its team, including core members of Gods Unchained, its NFT trading free-to-play card game. Immutable, which is also called the “Aussie crypto star” with a value of $2.4 billion, announced the 6% layoff decision on Monday during an all-hands meeting hosted by […]

Tether Holdings Ltd, the startup that issues the USDT stablecoin has come out again to debunk rumors bordering on the composition of its reserve asset. According to the company, it says it currently holds no Chinese Commercial paper as a part of its reserve assets. The company criticized the spread of false news, and how […]

Web3-focused Blockchain domain provider Unstoppable Domains has recently become a unicorn after closing a $65 million funding via a Series A funding round led by Pantera Capital. 1/ BIG NEWS 🦄🦄🦄 We’re excited to share that we’ve raised $65 million – at a $1 billion valuation – in a Series A led by @PanteraCapital! 🚀 […]

The International Monetary Fund or IMF recently released its World Economic Outlook update for this month, which suggests that 2022 has been “gloomy and more uncertain.” The IMF’s pessimistic view suggests the possibility that digital asset markets would continue to suffer. It said that “Several shocks have hit a world economy already weakened by the pandemic.” A […]

A recent class-action lawsuit proposal alleged that Yuga Labs “inappropriately induced” the NFT community to purchase Bored Ape Yacht Club NFTs and its native token, ApeCoin (APE). On Thursday, a proposed class action brought by the legal firm Scott+Scott was published, alleging that Yuga Labs had inflated the BAYC NFTs and the APE token prices by using […]

Friday saw the release of Twitter Q2 2022 financial results, which showed lower-than-expected figures for sales, earnings, and customer growth. The company attributed some of the reasons for the slowness to Tesla CEO Elon Musk for causing uncertainty about their acquisition agreement. According to a recent press release, the company’s sales fell by 1% from the […]

Global investment management company SkyBridge Capital has reportedly decided to bring a Web3-focused fund starting in September.  As per a recent report published by Business Insider, the founder of the company, Anthony Scaramucci, is planning to roll out a fund in September that would focus on supporting Web3 and crypto startups. SkyBridge to announce the […]

Investor withdrawal services at Legion Strategies, a hedge fund with a fair amount of crypto exposure, run by Anthony Scaramucci’s global investment company Skybridge Capital, have been suspended. The offshore fund, which is based in the Cayman Islands, has about $250 million in it. SkyBridge suspends Legion Strategies until capital raise Skybridge Capital has announced […]

The leading digital asset management platform Safe (previously called Gnosis Safe) recently announced that it has secured $100 million in a funding round. 1/📢 Important News: We are announcing a strategic funding round of $100 million led by @1kxnetwork to advance digital asset management and unlock ownership for everyone.Read more:https://t.co/hUzlAZiXYO — Old account 👉 follow […]

American financial services company M1 Finance has announced that it is launching trading services and opening crypto trading accounts in the coming weeks.  Introducing M1 Crypto. Learn more about our newest product and why we launched it from our founder and CEO, Brian Barnes: https://t.co/Be5Zy7WqAU. pic.twitter.com/SY8x5Pn9JM — M1 (@M1Finance) July 11, 2022 According to the announcement, the […]

Animoca Brands’ metaverse The Sandbox has teamed up with KEB Hana Bank, a South Korean commercial bank that offers the largest range of foreign exchange products. With the new partnership, the two entities aim to “expand global metaverse business in the banking industry.” According to an announcement made by the metaverse, KEB Hana Bank is planning to […]

Dutch multinational banking and financial services company ING Group has decided to sell its digital asset business Pyctor to multi-asset trading infrastructure company GMEX. Announced today: GMEX Group has acquired Pyctor, a #digitalasset #posttrade network and #MPC custodial technology, from ING. Pyctor will be integral to the MultiHub and our position as the first end-to-end […]