The battle between the SEC and Ripple comes to a surprising conclusion after two years Attorneys for the US Securities and Exchange Commission (SEC) disclosed that they aim to dismiss all claims against CEO Brad Garlinghouse and executive chair Chris Larsen of cryptocurrency project Ripple. In the filing in the US District Court for the
The FDIC’s inspector general wants the agency to step into crypto regulations An evaluation report on the Federal Deposit Insurance Corporation’s (FDIC) cryptocurrency asset risk strategy was published by the United States Office of the Inspector General, with a redacted version recently made public. The OIG said that a “bottom-up” strategy to crypto risk was
A deal has been made that could see FTX users see up to 90% of their crypto assets returned FTX and FTX.US have reached a proposed settlement that would return 90% of assets to customers of the bankrupt crypto exchanges by the middle of 2024. After “extensive discussions” with the unsecured creditors’ committee, FTX debtors
California is taking a page from New York’s cryptocurrency regulatory handbook A new crypto licensing bill was signed into law by California Governor Gavin Newsom on Friday and will go into effect in July 2025. Regarded as California’s answer to New York’s “BitLicense,” the Digital Financial Assets Law was heavily criticized by the industry but
The luxury sportscar manufacturer will allow buyers to use crypto for their purchases Due to customer demand and dealer requests, Ferrari has decided to accept cryptocurrency payments to purchase its luxury sports cars in the United States. The carmaker also says it will soon accept crypto payments for European purchases. Ferrari chief marketing and commercial
The G20 accepts crypto proposals submitted by the IMF and the Financial Stability Board The Group of Twenty (G20), an international forum made up of the European Union, the African Union, and 19 sovereign countries, has unanimously voted to accept the “G20 Finance Ministers and Central Bank Governors Communique” during its meeting in Marrakesh, Morocco,
The deal will see FTX-linked Alameda Research receive $175 million from Genesis A settlement has been approved by a New York bankruptcy judge between bankrupt cryptocurrency firms FTX and Genesis Global Trading (GGC) that grants FTX-affiliated Alameda Research $175 million from GGC. The US Bankruptcy Court of the Southern District of New York approved the
Use of the transaction network has reportedly grown 1,200% in two years Bitcoin’s layer 2 Lightning Network has grown by an estimated 1,212% in two years, with about 6.6 million routed transactions completed in August, a huge jump compared to the 503,000 transactions in August 2021, according to Bitcoin-only exchange River. In a River report
The crypto mining equipment company is having difficulty paying its bills Bitmain, a manufacturer of Bitcoin application-specific integrated circuits (ASIC), has suspended paying employee salaries for September and later. Multiple Bitmain employees familiar with the matter have cited that the firm has allegedly cut all staff “bonuses and incentives” and hasn’t paid wages due since
The financial consumer watchdog is prepared to take crypto under its purview The head of the US Consumer Financial Protection Bureau (CFPB) says the agency is looking to administer guidance on how cryptocurrency could fall under laws regulating electronic fund transfers. The top agency for consumer financial protection is contemplating using the Electronic Fund Transfer
The company has let go of 12% of its workforce amid economic insecurity The CEO and chairman of hardware cryptocurrency wallet manufacturer Ledger, Pascal Gauthier, recently announced that the company will be downsizing its staff by 12%. Ledger users might want to consider alternatives in case the figure grows. In a blog post from October
Craig Wright’s claim that he’s Satoshi Nakamoto is faltering more than ever Bitcoin and cryptocurrency enthusiasts have been fascinated by the mystery of Satoshi Nakamoto, the anonymous creator of Bitcoin, for over a decade as Bitcoin continues to influence the finance and technology world. Nakamoto vanished after publishing Bitcoin’s white paper in 2008, with his
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