The UK government has updated its intentions to regulate stablecoins backed by fiat currency. The paper was released on October 30 with the intent of easing and regulating the usage of fiat-backed stablecoins in UK payment networks. The paper states that in 2024, His Majesty’s Treasury plans to present explicit
October 30, 2023 1 min read
Strategy consultant at investment management company VanEck, Gabor Gurbacs, believes that El Salvador may follow Singapore’s model and become a financial hub in the Americas. Gurbacs on a twitter post stated: “I say often to portfolio managers and asset allocators that El Salvador has the potential to become the Singapore
October 29, 2023 2 mins read
The crypto sector may react partially to the results of the Federal Open Market Committee (FOMC) meeting of the U.S. Fed on October 31 and November 1, 2023. Nevertheless, traders are looking to Fed Chair Jerome Powell’s following remarks on the US economic outlook as a possible market-moving indicator. However,
October 29, 2023 1 min read
When it comes to debates over corporate lawsuits and the US SEC’s role, Brad Garlinghouse, CEO of Ripple, has been vocal in his criticism of Jay Clayton, the previous chairman of the SEC. The CEO of Ripple recalls that Jay Clayton was the one who first filed the lawsuit that
October 28, 2023 2 mins read
Shiba Inu had an increase of 841% in outflows last week, as reported by IntoTheBlock. The Large Holders Outflow feature of IntoTheBlock monitors the withdrawal of funds from the addresses of whales and other significant holders, making it possible to detect panicked selling. Rapid withdrawals from exchanges or sales from
October 28, 2023 2 mins read
In a lawsuit against Genesis Global, crypto exchange Gemini seeks to recover 60 million shares of the Grayscale Bitcoin Trust (GBTC) that were committed as collateral for the Gemini Earn product. To access the funds that were frozen when Genesis temporarily stopped processing withdrawals last year, Gemini has launched an
October 27, 2023 2 mins read
Zodia Markets, a platform for trading and exchanging digital assets backed by Standard Chartered has been granted a Virtual Asset Service Provider (VASP) license by the Central Bank of Ireland. In July 2022, Zodia was approved as a cryptocurrency exchange by the UK’s Financial Conduct Authority (FCA), and in September
October 27, 2023 1 min read
The integration of Chainlink Proof of Reserve (PoR) is something that Backed is pleased to announce. With this feature, users may now verify the collateralization of its tokenized assets in a transparent and trust-minimized manner. Users may rest well knowing that their investments are properly collateralized thanks to Backed’s implementation. With PoR,
October 26, 2023 3 mins read
The U.S SEC filed charges against BlackRock Advisors, LLC today for failing to provide information about investments that make up a substantial component of a publicly listed fund it advises. A notification from the SEC was issued confirming this. The investments are focused mostly on the media and entertainment sector.
October 25, 2023 2 mins read
In light of the recent market upsurge caused by speculation about the launch of a spot BTC ETF, ARK Investment led by Cathie Wood sold shares of the Grayscale Bitcoin Trust (GBTC). The ARK Next Generation Internet ETF (ARKW) sold 100,739 GBTC shares on 23 October for $2.5 million. This
October 24, 2023 1 min read
