Cryptocurrency Analysis and News Portal
The FTX affair continues to unravel. Sam Bankman-Fried, the former CEO of the failed crypto exchange, will be held in jail through the end of his two upcoming trials. Judge Lewis Kaplan ordered the revocation of the entrepreneur’s $250 million bail following The New York Times report about his alleged
Read More
FTX’s former primary counsel Fenwick & West LLP has been hit with a class action suit claiming it aided the crypto exchange’s alleged multi-billion dollar fraud.An Aug. 7 filing by a group of FTX customers in a California District Court alleged the law firm set up several “shadowy entities” allowing
Read More
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Representative Patrick McHenry, the US House Financial Services Committee chair, endorsed PayPal’s stablecoin, PYUSD, as a key pillar for modern payments. The endorsement was given on Aug. 7, shortly after PayPal announced the stablecoin launch in partnership
Read More
FTX has outlined its intended reorganization plan, which will categorize claimants of the bankrupt exchange into specific classes and pave the way for it to become operational as an offshore entity. However, a body representing FTX customers said it is “extremely disappointed” by the plan. FTX’s Official Committee of Unsecured Creditors
Read More
Last week, the United States took a step closer to regulatory clarity for its crypto industry. In a 35–15 vote, the House Financial Services Committee (FSC) approved the Financial Innovation and Technology for the 21st Century Act. The bill is intended to establish rules for crypto firms on when to
Read More
The Namibian Government officially signed a law to regulate Virtual Asset Service Providers operating in the country last week, reversing its original 2017 decision to ban cryptocurrency exchanges.On July 21, the VASP-regulating law was inserted into the Gazette of the Republic of Namibia after previously being approved in Namibia’s National
Read More
Professional services giant Deloitte is set to boost its clients’ blockchain-tracking capabilities following a strategic alliance with crypto analytics firm Chainalysis.Announced during a Chainalysis conference in Washington DC on July 25, the tie-up will see Chainalysis’ blockchain datasets, analytics software and training programs assist Deloitte’s clients with their crypto forensic,
Read More
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a
Read More
Last week was marked by two new legislative initiatives for the crypto industry in the United States. Senator Jack Reed sponsored a bipartisan bill that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and sanctions requirements for decentralized finance (DeFi). The bill would subject DeFi operations to
Read More
According to the head of the parliament's committee on financial markets Anatoly Aksakov, the digital ruble will also allow controlling and limiting the ways private citizen can spend them. For example, parents would be able to control on what their kids spend their pocket money, Aksakov told Parlamentskaya Gazeta in
Read More