National Australia Bank Becomes Second Australian Bank to Build Stablecoin: Report

The purpose of AUDN would be to allow its customers to settle transactions on blockchain technology in real-time using Australian dollars, NAB said. AUDN could also be used for several other purposes including “carbon credit trading, overseas money transfers and repurchase agreements,” NAB’s Chief Innovation officer Howard Silby told AFR. Author: Amitoj Singh Source link

Genesis is planning to file for bankruptcy: Report

Cryptocurrency lending firm Genesis Global Capital, a subsidiary of crypto conglomerate Digital Currency Group, is reportedly preparing to file for bankruptcy as early as this week. According to a Jan. 18 Bloomberg report, Genesis previously said it was considering a bankruptcy filing if it were unable to raise cash amid a liquidity crunch — a situation similar to that preceding crypto exchange FTX’s Chapter 11 filing in November. Citing people with knowledge of the situation, Bloomberg reported Genesis could file for bankruptcy as soon as this week. The report followed…

Digital Currency Group under investigation by U.S. authorities: Report

Crypto conglomerate Digital Currency Group, or DCG, are under investigation by the United States Department of Justice’s Eastern District of New York (EDNY) and the Securities and Exchange Commission (SEC), according to a Bloomberg report.  The authorities are digging into internal transfers between DCG and its subsidiary crypto lending firm Genesis Global Capital, noted the report citing people familiar with the matter. Prosecutors have already requested interviews and documents from both the companies, while the SEC is running an early-stage similar inquiry. As of yet, no indictment has been brought…

FTX asset sales challenged by U.S. Trustee: Report

Bankrupt crypto exchange FTX’s plans to sell its digital currency futures and clearinghouse LedgerX, among other businesses, were challenged by the U.S. Trustee on Jan. 7, according to Reuters. As per the filing, U.S. Trustee Andrew Vara called for an independent investigation before any sale, claiming that valuable information related to the exchange’s bankruptcy could be compromised. The document states: “The sale of potentially valuable causes of action against the Debtors’ directors, officers and employees, or any other person or entity, should not be permitted until there has been a…

U.S. Investigators Subpoena Hedge Funds in Binance Money-Laundering Probe: Report

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 with the U.S. government, recently becoming active in crypto lobbying in Washington, DC. Author: Elizabeth Napolitano Source link

Crypto Conglomerate DCG Being Investigated by DOJ, SEC: Report

The prosecutors with the DOJ’s Eastern District of New York office have so far requested interviews and documents from DCG and Genesis, the report said, while the SEC appears to be in a similarly early stage of its own inquiry. The report, which cited people familiar with the matter, said that neither Genesis nor DCG, which is also the parent company to CoinDesk, have so far “been accused of wrongdoing.” Author: Nikhilesh De Source link

SBF met with Biden’s senior advisors 2 months before FTX collapse: Report

Former FTX CEO Sam Bankman-Fried met with government officials at the White House on at least four separate occasions in 2022, and reportedly a meeting just two months before the fall of his crypto empire. Most of the meetings were disclosed in visitor logs which are posted by the White House every month, showing that Bankman-Fried had met with Counselor to the President Steve Ricchetti on Apr. 22, 2022 and May. 12, 2022 along with another meeting on May 13 meeting with policy advisor Charlotte Butash However, according to a…

Japan to lift the ban on foreign stablecoins like USDT in 2023: Report

Japanese regulators are reconsidering some major cryptocurrency restrictions related to the use of stablecoins like Tether (USDT) or USD Coin (USDC). The Financial Services Agency (FSA) of Japan will lift the ban on the domestic distribution of foreign-issued stablecoins in 2023, local news agency Nikkei reported on Dec. 26. The new stablecoin regulations in Japan will allow local exchanges to handle stablecoin trading under condition of asset preservation by deposits and an upper limit of remittance. “If payment using stablecoins spreads, international remittances may become faster and cheaper,” the report…

$16K Bitcoin dropping to $12K–$14K — Can this really happen? Watch The Market Report

On this week’s The Market Report show, Cointelegraph’s resident experts discuss the possibility of a $12,000–$14,000 Bitcoin (BTC) price and what that would mean for the rest of the crypto space. We start off this week’s show with the latest news in the markets: New BTC miner capitulation? 5 things to know in Bitcoin this week Bitcoin prepares to exit a grim November just above $16,000 — what could be on the menu for BTC’s price this week? We discuss the protests in China, the possibility of Bitcoin miners being…