Kraken crypto exchange has revealed plans to open its own bank soon. The project is moving towards an early launch, Kraken general counsel Marco Santori told The Block. Kraken is an American centralized cryptocurrency exchange founded in 2011. The platform ranks 20th in terms of daily trading volume over the past 24 hours with an...
Crypto exchange FTX reveals an $8.8 billion shortfall in client funds. A presentation published Thursday on law firm Kroll’s website shows that exchange managers were only able to find about $2.8 billion of the $11.6 billion that should be in client accounts. The value of FTX’s assets and liabilities is as of the day the...
Visa has denied media reports that it is allegedly putting its cryptocurrency projects on hold following the collapse of several major crypto companies. Mastercard also said it will continue to explore use cases for blockchain technology. On February 28, Reuters published an article stating, citing unnamed sources, that Visa and Mastercard have “hit the brakes”...
Former FTX engineering director Nishad Singh pleaded guilty to fraud while working for the bankrupt crypto exchange, Reuters reported. He also agreed to cooperate with prosecutors in an investigation into FTX founder Sam Bankman-Freed. Singh became the third of the former FTX group executives to claim responsibility for the illegal operations that led to the...
The American bitcoin exchange Coinbase launched the Crypto435 initiative aimed at promoting understanding and support of cryptocurrencies among politicians and regulators. As part of the initiative, Coinbase will provide all interested Americans with information on how to contact the politicians representing them, talk about their views on digital assets, and provide the necessary materials and...
The International Monetary Fund (IMF) would prefer to regulate digital assets, but does not exclude their ban when higher risks to financial stability appear. This was stated by the managing director of the organization Kristalina Georgieva in an interview with Bloomberg. Industry oversight is a top priority for the Financial Stability Board, the IMF and...
Investments in Ethereum by the co-founder of the Reddit social network Alexis Ohanian have grown by 548,566% since he invested in altcoin in 2014. In an interview with Forbes, he said that he spent $ 15 thousand to buy 50 thousand. ETH at a price of $0.3 per coin. At the rate of February 22,...
According to the financial results report published on February 21 for the fourth quarter of last year, the largest American crypto exchange Coinbase recorded a net loss of $ 557 million, and for the whole year — $2.625 billion. For comparison, in 2021, Coinbase’s net profit amounted to $840 million and $3.624 billion, respectively. According...
A partnership between Web3 payment protocol Immersve and payments giant Mastercard will allow users to make crypto payments on digital, physical and the metaverse worlds. Once the transaction is successful from the user’s end, USD Coin tokens — a United States dollar-backed stablecoin issued by Circle — will get converted to fiat and be used...
The announcement on the site’s website states that the withdrawal of fiat currencies and crypto assets became available to FTX Japan customers through the Liquid Japan web platform on February 21. In early December last year, FTX Japan announced that it plans to resume local customer withdrawals, which were suspended on November 8th. The exchange...
