The Hong Kong Securities and Futures Commission (SFC) issued a warning on Monday, Aug. 7, to virtual asset trading platforms (VATPs) involved in what it practices, emphasizing the potential legal and regulatory consequences. This notice comes on the heels of the SFC’s observation of unlicensed VATPs falsely claiming to have submitted licensing applications, and other
In a recent court ruling in China’s Jiangsu province, a man named Mr. Xu was left without legal protection for his 341 Bitcoin loan ($9.9 million) to Mr. Lin. This ruling has sparked a debate about the legal status of Bitcoin and other cryptocurrencies in the country. The court dismissed Mr. Xu’s case, stating that
In the age of Web3, the landscape of the internet is undergoing a revolutionary transformation. Unlike the traditional internet services where a handful of companies control data and user information, Web3 empowers individuals to own and control their own data. It represents a decentralized approach, providing users with unprecedented control and autonomy over their digital
In the realm of cryptocurrencies, intriguing events tend to unfold frequently, captivating the attention of enthusiasts worldwide. From hacks to memecoins frenzy, the crypto space is never lacking in excitement. However, the recent action of an Ethereum whale, known by the address ‘nd4.eth’, has left the ETH community in shock and contemplation. This particular whale
The latest data reveals that crypto hedge funds have failed to meet expectations in the first half of 2023. According to Switzerland-based investment adviser 21e6 Capital AG, these funds generated an average return of 15.2% during this period, significantly lower than the 83.3% return that could have been achieved by simply holding Bitcoin (BTC). This
Worldcoin, despite facing early regulatory challenges in various jurisdictions, has reported a doubled demand for its global World ID verifications during the first week of its launch. This surge in demand can be attributed to the release of new Orbs worldwide, which have significantly boosted the weekly verifications numbers. It is important to note that
In recent days, rumors and speculations about the financial health of cryptocurrency exchange Huobi have circulated, leading to doubts about the platform’s stability and trustworthiness. The situation has been further exacerbated by claims that several Huobi exchange executives have been taken into custody by the Chinese police. These claims, however, have been denied by Justin
Compound (COMP), a prominent player in the decentralized finance (DeFi) sector, has recently faced a significant setback with a 20% decline in its price over the past week. This downward trend has continued with a 3.06% decrease in the last 24 hours and an additional 0.79% shrinkage in the most recent hour, bringing the current
The recent behavior of massive XRP whale wallets in the cryptocurrency market is raising eyebrows among investors and analysts alike. Over 100 million XRP tokens have been dumped by some of the largest holders, exerting significant selling pressure on the price of XRP. This article delves into the implications of these actions and the potential
In a significant legal victory for Tether and Bitfinex, Chief Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York dismissed a class action lawsuit brought against the stablecoin issuer. The lawsuit, filed by Matthew Anderson and Shawn Dolifka in 2021, alleged that Tether’s claims of its stablecoin, USDT,
