Twitter secures money transmitter licenses in three US states
Twitter has secured licenses to operate as a money transmitter in Missouri, New Hampshire, and Michigan, setting the stone rolling for its dream of becoming a financial service provider. Elon Musk disclosed this plan when taking over the social media giant last year to set it apart from the growing competition.
Crypto hacks and cyber attacks claimed over $300 M in Q2 2023
Crypto hacks have persisted into 2023 though a noticeable drop of 58% YoY has occurred. A report by Certik, however, shows that $300 million was stolen from the industry in Q2 2023.
Denmark asks Saxo Bank to erase crypto holdings
Denmark has asked one of its largest banks, Saxo Bank, to erase its cryptocurrency holdings as a de-risking effort. It expects the bank not to be impacted in any way while closing its crypto market positions.
Crypto continues to battle tough regulations
A sticky situation persists in the crypto ecosystem as regulators pledge to ‘spring clean’ the entire industry. What started as a juvenile attack on crypto is now almost a full-blown annihilation of an industry whose promise at genesis was financial freedom.
Money market funds get record inflows in the U.K.
Investors in the U.K. have flocked into money market funds, according to a June report from Calastone, in the second-highest move of its kind in the country’s history. The move comes when the U.K. economy is in distress due to the rising inflation rate dragging costs of living up with it.
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Hot Stories
Binance faces more pain as the plan to be regulated in the U.K. falls through
Binance is set to endure more pain as its plan to get regulated in the United Kingdom as a replacement for the United States falls through. A report from its regional manager indicates that the exchange has had to de-register with the FCA but assured users that the process does not have an operational impact as it never did any regulated business in the U.K.
Britcoin launch inches closer as Rosalind CBDC tests prove successful
Brits are set to receive Britcoin, a Central Bank Controlled Digital Currency (CBDC), as the Bank of England gets wowed by the potential of digital currencies. Following a successful trial study called Project Rosalind, BoE is more confident than ever in the functionality of Britcoin.
Do Kwon denies forging legal documents, blames Chinese agency
Do Kwon, the former CEO of the collapsed crypto empire Terra Ecosystem has told a court in Montenegro that he is innocent of using forged documents. Kwon expressed that he was unaware of his travel documents being fake.
Binance woes increase as it is forced to exit Dutch market
Binance has assured investors and regulators worldwide that it’s working hard to comply with new regulations like MiCA after being forced to leave the Dutch market. It says that it’s working hard to ensure that its business is fully MiCA compliant
BlackRock Bitcoin ETF attracts controversy
A BlackRock Bitcoin ETF has sparked controversy among the crypto community as they determine if the $10T asset manager is their savior or doom. BlackRock is known to own large amounts of shares in most public companies.
US government agencies hit by a global cyberattack
The US government is investigating the impacts of a massive countrywide cyber attack that has targeted several of its official agencies. The US Cybersecurity and Infrastructure Security Agency says it is supporting several federal agencies that have experienced intrusions affecting their MOVEit applications.