Changpeng Zhao (CZ), the founder of Binance, who admitted to money laundering offences in November 2023, received a four-month prison sentence on Tuesday 30th April 2024. U.S. prosecutors had suggested a sentence of 36 months for Zhao. As part of his deal with the Justice Department, the cryptocurrency billionaire resignedRead More →
Binance is still open for business and is now being run by, Richard Teng. But who is the new boss of Binance? Mr Teng, from Singapore joined Binance just over two years ago as the chief executive of the Singapore business. That was the year when Binance came under aRead More →
Binance chief Changpeng Zhao pleaded guilty Tuesday to criminal charges and stepped down as the company’s CEO as part of a $4.3 billion settlement with the Department of Justice, according to court documents. The plea arrangement with the U.S. government resolves an investigation into the world’s largest cryptocurrency exchange. ZhaoRead More →
Digital assets have soared recently to unprecedented heights and then plummet just as quickly. It’s an extremely volatile financial environment. Amid this volatility, the European Union’s securities watchdog, the European Securities and Markets Authority (ESMA), has sounded a cautionary note. The Concentration Conundrum ESMA’s latest report highlights a considerable concern: theRead More →
After years of regulatory rejection, the U.S. Securities and Exchange Commission on Wednesday 10th January 2024 finally approved the Bitcoin EFT. It has approved what are known as ‘spot’ Bitcoin Exchange-Traded Funds (ETFs), which can be purchased by anyone from pension funds to retail investors. This now means that some of theRead More →
For true cryptocurrency bulls, the most lucrative investments in 2023 were in the stock market. While Bitcoin rallied over 150% for the year, shares of Coinbase, Marathon Digital, MicroStrategy and the Grayscale Bitcoin Trust, which are all tied closely to the digital currency, did substantially better, rising more than 300% in value. Bitcoin miner Marathon Digital soared someRead More →
Bitcoin extended its rally overnight, climbing past the $41,000 level for the first time since May 2022. The price of Bitcoin quickly soared above $41,000 easily taking out $40,000. The cryptocurrency is up around 13% over the past month and up more than 130% year to date. But the priceRead More →
Singapore is planning to introduce stricter regulations for cryptocurrency service providers in order to protect retail customers from the higher financial risks associated with digital assets. Some of the proposed measures Requiring crypto service providers to disclose the fees and charges for their services, as well as the risks andRead More →
According to a report by Henley & Partners, a professional consultancy firm, there are 22 people who have crypto holdings worth at least $1 billion as of September 2023. Six of them hold their investments in Bitcoin, the first and largest cryptocurrency by market capitalization. Six Bitcoin billionaires reported net worthRead More →
Big news for the crypto industry Singapore’s financial regulator has reportedly said it had finalised rules for a type of digital currency called ‘stablecoin’, placing it among some of first the regulators worldwide to do so. Stablecoins are a type of digital currency designed to hold a constant value againstRead More →
Cryptocurrency Crypto, short for cryptocurrency, is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Cryptocurrencies are decentralised currencies, meaning they’re neither issued nor governed by a central bank. Some cryptocurrencies are issued by their developers, while others are generated by their respectiveRead More →