Crypto exchange Bithumb will have to pay a fine of 36.8 billion won, about $24.5 million, after it was found to be in violation of South Korea’s Anti-Money Laundering rules. Summary South Korean regulators fined Bithumb 36.8 billion won, about $24.5 million, after identifying about 6.65 million AML-related violations during an inspection of the exchange’s
Abra, a digital asset wealth management platform, will transition into a publicly traded company through a merger with New Providence Acquisition Corp. III. The combined entity, Abra Financial, is expected to trade on Nasdaq under the ticker ABRX. The transaction sets Abra’s pre-money valuation at $750 million and allows existing stockholders, including Adams Street, Blockchain
You buy crypto ETPs because you want the gains of Bitcoin or Ethereum without the headache of self-custody. But there is a hidden risk that most retail investors ignore until it eats into their profits: tracking error. If the reference price, the official sticker price used to value the fund’s assets, drifts from the real
CFG exploded by more than 60% in minutes after Binance announced that it will list the cryptocurrency on its exchange. Centrifuge’s native cryptocurrency, CFG, has exploded by more than 60% in a matter of moments. This happened after Binance announced it would list the token for spot trading across three pairs. Namely, these are
The U.S. Securities and Exchange Commission has dropped a multi-year case against Nader Al‑Naji, who had been accused of misleading investors and violating federal securities laws tied to the launch of the BitClout platform. Summary SEC has dropped its fraud and securities case against BitClout founder Nader Al-Naji after the agency’s crypto task force reassessed
SwissBorg, a digital asset investment platform with over $1 billion in assets under management, has obtained approval under the European Union’s Markets in Crypto-Assets (MiCA) regulation from the French Autorité des Marchés Financiers (AMF), the firm announced Friday. The authorisation permits the platform to offer multiple crypto-asset services, including custody, administration, order execution, transfers, portfolio
India’s Central Bureau of Investigation has arrested Ayush Varshney, co-founder and CTO of Darwin Labs, for his alleged role in the GainBitcoin Ponzi scheme. The full scope of what he allegedly helped build is staggering. According to the CBI announcement, Darwin Labs developed and deployed the fraudulent tech infrastructure behind the scheme: including the MCAP
Another analyst indicated that there are “almost no short positions on XRP” at the moment. With the entire cryptocurrency market rebounding in the past 12 hours or so, Ripple’s cross-border token has joined the trend, jumping 5% to almost $1.50. Analysts have weighed in on this performance, with some suggesting that the asset has
Summary French Hill said the CLARITY Act could resolve issues left open by the GENIUS Act. Hill noted the House passed the CLARITY Act with bipartisan backing, including 78 Democratic votes. Lawmakers aim to ensure equal rules for bank and nonbank stablecoin issuers, Hill said. French Hill, chair of the U.S. House Financial Services Committee,
Crypto trading platform BlockFills announced today that it has entered Chapter 11 after the company suspended trading and withdrawals amid market volatility. The decision follows extensive discussions with investors, clients, creditors, and other stakeholders and is intended to preserve the value of the business while maximizing recoveries, according to the firm. Following our previous communication