Crypto | FinTelegram News

Category: Crypto

April 9, 2023

Another Warning Against Token Asset Trading Platform Genius Assets!

The Spanish CNMV issued a warning against Genius Assets in May 2022. At that time, the crypto trading scheme was still operated through a legal entity in Estonia which has since been deleted. The operator of this digital asset marketplace is now Genius Assets LLC. Jurisdiction is not indicated on the website. It is likely to be a Romanian project operated through Dubai. At least the CEO Claudiu Buda is based there. We have added the project to our Red Compliance list.

ASIC
Crypto

April 7, 2023

Australian Regulator ASIC Canceled Binance’s Derivative Licences On The Exchanges Request!

The Australian regulator ASIC has canceled the Australian financial services license held by Oztures Trading Pty Ltd c/n/a as Binance Australia Derivatives (Binance). The move comes following a request from Binance on April 5. ASIC has been conducting a targeted review of Binance's financial services business in Australia, including its classification of retail and wholesale clients. However, the targeted review will continue, says ASIC in its press release.

Crypto

April 4, 2023

Elon Musk Did It Again: DogeCoin Exploded After Twitter Replaced Its Logo With The Shiba Inu Dog!

It is known that Elon Musk is a DogeCoin fan. It is also known that he likes to use Twitter to promote his assets. He did the same with DogeCoin. For that, he was sued for $258 billion by DogeCoin investors in 2022 for alleged market manipulation. Musk replaced Twitter’s traditional bird icon with an image of the Shiba Inu dog, the digital coin’s symbol. DogeCoin spiked more than 30% on Monday. Musk has again demonstratively and without restraint shown that he uses Twitter to manipulate.

Crypto

March 30, 2023

No Surprise: Binance And Its Links To China Explained By The Financial Times.

Binance evidently hid substantial links to China for several years despite public statements that the crypto exchange left the country in late 2017, according to internal company documents seen by the Financial Times. Founder and CEO Changpeng Zhao (CZ) and other executives repeatedly instructed Binance employees to hide the company’s Chinese presence. This included an office in use until at least the end of 2019. The FT revelation is not really a surprise.

March 28, 2023

Why The U.S. Regulator CFTC Goes After Binance CEO Changpeng Zhao!

According to the U.S. CFTC, Binance operates the world’s largest centralized digital asset exchange through an opaque web of corporate entities, all ultimately controlled by Changpeng Zhao (CZ). Much of Binance’s reported trading volume and profitability has come from its extensive solicitation of and access to customers in the United States. Allegedly. CZ was responsible for the circumvention of Binance's compliance approach. Not sued, however, is Binance.US, which is owned by BAM Trading Services Inc.

Crypto
SEC

March 26, 2023

Embattled U.S. Crypto Market: SEC Warns Investors About Crypto Securities!

This week the U.S. SEC warned Coinbase about enforcement actions and filed a lawsuit against BitTorrent by Justin Sun for violating U.S. securities laws. Moreover, the regulator has warned investors about crypto securities. The SEC urges investors to be cautious with crypto asset securities. They would be exceptionally volatile and speculative. Crypto platforms may lack essential protections for investors. The wording crypto asset securities implies a regulatory obligation.

Crypto
SEC

March 23, 2023

Coinbase Share Price Crashed After SEC Warning; Bitcoin And Ether Unimpressed!

The announcement of an enforcement action by the U.S. Securities and Exchange Commission (SEC) against Coinbase today sent the stock price down by nearly 20% at the start of trading. Coinbase management had tried to explain and reassure on Twitter. However, that didn't help for the time being. The possible qualification of certain assets and offerings as securities could actually shatter the Coinbase business and revenue model (report here).

Crypto
SEC

March 23, 2023

U.S. Crypto Exchange Coinbase Faces Existential Regulatory Issues!

Coinbase, a public-listed U.S. crypto exchange, has troubles with the U.S. Securities and Exchange Commission (SEC), which has threatened to sue Coinbase over some of the crypto exchange's products. The regulator gave Coinbase a Wells notice, typically one of the final steps before the SEC formally issues charges. The SEC qualifies some of the company's assets and services as securities, including its staking services.

March 22, 2023

Crypto Investment Scheme OASIS Assets Red Orange Compliance Rating!

OASIS Assets is a crypto exchange and investment scheme offering investors various plans for guaranteed returns. For a 120-day investment of GBP 250,000, 45% is promised. The scheme is operated through legal entities in the UK, Australia, Singapore, and Switzerland. The scheme does not appear to have a license to offer financial products. There is no scam alert on OASIS Assets, but we have given the scheme a Red Compliance rating. Be cautious accordingly.

March 13, 2023

Silver Lining: Bitcoin Recovers From Last Week’s Bank Collapses On Bail-Out Hopes!

After a short period of weakness, the leading currencies of the crypto segment are unimpressed by the collapse of Silvergate and Silicon Valley Bank (SVB) last week. Both Californian banks were also of systemic importance for the crypto segment. Bitcoin briefly fell below the $20,000 mark last week but is again showing at the beginning of the week at well over $22,000. Similarly, Ether has risen more than 9% to over $1,600. This price hikes may be connected to hopes of a SVB bail-out.

March 12, 2023

USDC Stablecoin Issuer Circle Provided Statement Of Impact Of SBV Collapse!

The Silicon Valley Bank's (SVB) sudden death on Friday triggered shockwaves in the already traumatized crypto scene. One of the victims of the SVB collapse was the USDC stablecoin, which is 100% collateralized with cash and US Treasuries. $3.3 billion of USDC’s cash reserves had been deposited with SVB at the time of the collapse. The USDC price dived but recovered quickly. USDC issuer Circle said they hope the regulators will find a solution that protects customers’ assets 100%.

Crypto

March 10, 2023

Sell-Off: New Crypto Crash Below $20,000 After Continuing Bad News!

Bitcoin (BTC) is trading below $20.000, down more than 8% over the past 24 hours. Thus, the leading cryptocurrency saw about half its gains from a vibrant first six weeks of the year erased. The slump comes after the announcement of Silvergate Bank's liquidation and against the backdrop of rumors surrounding regulatory and legal actions against Binance and Ether. There are currently fears again that BTC could make a run south to $10,000. No environment for fainted hearts.