Creditors of the bankrupt crypto lending firm, Celsius Network, have amended their class-action lawsuit to include algorithmic trading firm, Wintermute. The plaintiffs now allege that Wintermute aided Celsius in wash trading, an illegal activity where the same crypto or security is sold and bought to generate misleading market information. The latest court filing shows Wintermute
Blockchain
Iris Energy, a Nasdaq-listed Bitcoin mining company, has revealed its plans to expand its operations to meet the growing demand for data centers for Artificial Intelligence (AI) applications. Expansion Plans In a press release, the company announced that it will expand to 9.1 EH/s (exahashes per second) and revamp its high-performance computing (HPC) data center
Binance, a major player in the cryptocurrency exchange market, has recently announced a new promotional offer that allows for zero-maker fees when trading its stablecoin TUSD. The promotion is set to take effect on June 30, 2021, and will be available for both spot and margin trading for TrueUSD. The offer applies to all new
According to experts, Russia is reportedly becoming a crypto mining hotspot. The nation claims its crypto mining hashrate is second only to that of the USA. Nikita Zuborev, a Senior Analyst at the domestic crypto platform BestChange, said that there are many advantages of mining crypto in Russia. One of which is relatively low electricity
A report by the Bank for International Settlements (BIS) has proposed a unified electronic ledger that combines central bank digital currencies (CBDCs) and other tokenized assets, which has the potential to enhance the global financial system. It would leverage automated smart contracts on blockchains like Ethereum to facilitate seamless transactions. The report highlights the current
According to Martin El-Khouri, a senior director at venture capital firm Bertelsmann Investments, Web3 investments are being touted as the perfect hedge against disruption in the tech industry. Despite the regulatory challenges and market downturn, investors are continuing to back new ventures in the Web3 space, with decentralized finance (DeFi) startups seeing a surge in
CACEIS Bank, the asset servicing arm of Crédit Agricole and Santander, has obtained a crypto custody license from France’s Financial Markets Authority (AMF). With the new license, CACEIS Bank is now authorized to provide digital asset custody services. The AMF conducts various checks on companies before granting licenses, including checks on the competence of managers
Binance’s US-based exchange, Binance.US, has experienced a significant decline in its share of trading volume among USD-to-crypto trading exchanges. The decline in market share is visible in data analyzed by The Block, which shows that the exchange now holds a market share of just 4.35%, a significant decrease from over 16% in April. This market
The Bank of England (BoE) and the Bank for International Settlements (BIS) Innovation Hub have conducted a trial named Project Rosalind to explore the potential of central bank digital currencies (CBDCs) for introducing “programmability” to money. The trial has highlighted that CBDCs could offer central banks and governments multiple new tools that they did not
Recent filings submitted by FTX’s bankruptcy advisors reveal that the bankrupt crypto exchange is facing escalating legal and advisory costs. According to the filings, the exchange’s advisors billed FTX a staggering $121.8 million in fees and expenses for the period between February 1 and April 30. The filings show that law firm Sullivan & Cromwell