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United States prosecutors are investigating hedge funds' relationships with cryptocurrency exchange Binance for money-laundering violations.According to anonymous sources cited by the Washington Post, the U.S. attorney’s office for the Western District of Washington in Seattle subpoenaed investment firms to provide records of communications with Binance in the past months. The
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Recently, Binance has made efforts to increase its commitment to compliance, growing its security and compliance staff by 500% in 2022. Additionally, last fall the company assembled a global advisory board chaired by Max Baucus, a former Democratic senator from Montana. Meanwhile, the exchange seems eager to improve its relations
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The pressure continues to mount on Grayscale with its Bitcoin Trust (GBTC) and parent company Digital Currency Group. And as Ram Ahluwalia, CEO and co-founder of crypto-native investment advisor Lumida, pointed out in a recent thread, two new characters, Valkyrie Investments and Fir Tree have entered the “Shakespearean drama.” The motivation
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The U.S dollar-Argentine peso exchange rate escalated during December, with the Argentine fiat currency reaching new historic lows as citizens ran to exchange their holiday payments for dollars. The U.S. dollar reached a value of 356 pesos on December 28, losing almost 10% during just one week, and threatening to
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As US listing prospects improve, several US-listed Chinese tech players have halted their Hong Kong listing plans. A number of US-listed Chinese companies have reportedly suspended plans for a potential Hong Kong listing. According to The Information, these Chinese tech companies include agricultural tech giant Pinduoduo Inc (NASDAQ: PDD) and Full Truck Alliance Co
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On Oct. 28, the firm’s core legal entity, BKCoin Management LLC, filed a complaint with the circuit court that alleged Kang had improperly diverted and/or commingled $12 million in cash and other assets out of the multi-strategy funds. BKCoin had terminated Kang’s employment on Oct. 14 but wasn’t sure if
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“It's not just other funds and investors who can benefit from protection against nonlinear drops in cryptocurrency markets. I think this new fund will be valuable to the entire crypto ecosystem; exchanges, payment processors, project endowments, and really anyone with significant exposure to crypto,” Kvamme said. Original Source
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“The foreign representatives and their agents are authorized to serve subpoenas for the production of documents and testimony upon the founders, the investment managers and anyone else that might have information about Three Arrows’ affairs," U.S. Bankruptcy Judge Martin Glenn for the Southern District of New York wrote in a
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A Grayscale spokesperson told CryptoX the company's "mission is to help investors access the ever-evolving crypto ecosystem through familiar, secure, and transparent investment vehicles. We respect the views of our shareholders, and appreciate engaging directly with them on the details of our product structures and operating model." Source
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London-based investment manager Man Group Plc is preparing to launch a cryptocurrency hedge fund, signaling continued investor appetite for digital assets in the wake of FTX’s monumental collapse earlier this month. Bloomberg reported on Nov. 18 that Man Group is preparing to launch its crypto-focused hedge fund through its computer-led trading
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