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On Sept. 13, news broke of yet another high-level executive parting ways with Binance.US. This time, it was none other than Brian Shroder, the CEO and president of the exchange, who, after two years in the hot seat, was heading for a “deserved break,” as Binance CEO Changpeng “CZ” Zhao was
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Prime Trust filed for bankruptcy in August, roughly two months after Nevada regulators alleged the company was unable to meet its customers' withdrawal requests. The company also used customer funds to invest in failed stablecoin project Terra, in addition to engaging in other dubious business practices, a court filing shows. Source
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The United States may soon have a Bitcoin-only trust company, according to plans disclosed by BitGo and Swan Bitcoin on Sep. 15. The joint venture is pending regulatory approval, the companies said in a statement.The forthcoming entity will handle similar activities of a trust company, including Bitcoin custody, administration and
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The new Bitcoin-only trust company will combine expertise from BitGo and Swan Bitcoin to drive adoption with minimal exposure. California-based crypto custodian BitGo Inc and Bitcoin services firm Swan are working to create a Bitcoin-only trust company. The new firm will offer customers Bitcoin custody without the risk of exposure to the
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A multimillion-dollar security incident involving a Fortress third-party vendor took place in the hours leading to the takeover by Ripple. Ripple has shared the reason behind its accelerated acquisition of Fortress Trust which took place on September 8. According to the financial technology company, the deal was already on the table,
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A phishing attack on Retool led to the theft, which helped spur Fortress Trust’s agreement to sell itself to Ripple, sources said. Source
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Alex explained how there are now four pillars to Bitcoin education in El Salvador, with Mi Primer Bitcoin serving as the most basic. He recently left CUBO+ to create another program called Node Nation, with the goal of installing Lightning nodes in high schools and providing highly technical classes to
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CNA Financial, the seventh-largest commercial insurer in the United States, has excluded nonfungible tokens (NFTs) coverage from Schwab Strategic Trust’s policy worth $20 million.In a filing submitted to the US Securities and Exchange Commission (SEC), the insurer attached an exclusion to the document, mentioning that the bond does not cover
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Blockchain startup Ripple covered the losses of Fortress Trust clients as part of its purchase agreement. Fortress said the losses were caused by a “third-party vendor whose cloud tools were compromised”, according to The Block. “Luckily, Ripple was in a position to act quickly to step in and make customers whole, and
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