Architect fintech receives NFA approval to operate as introducing broker
The former president of FTX US founded the company in January to serve institutional investors in crypto and traditional derivatives.
The former president of FTX US founded the company in January to serve institutional investors in crypto and traditional derivatives.
Headquartered in Dubai, crypto exchange Bybit said it will suspend services to residents of the United Kingdom starting in October due to “regulatory changes.”
It’s hard to know how much a collapsed crypto firm like FTX would be worth by the time its bankruptcy is resolved.
Potential implications around financial stability, lower market appeal and mainstream use of stablecoins were the main concerns highlighted by the author of the report.
Binance Holdings, its U.S. counterpart, and CEO Changpeng Zhao have filed motions seeking the dismissal of a lawsuit against them by the SEC.
According to Decrypt: Grayscale Investments has filed an application with the U.S. Securities and Exchange Commission (SEC) to create a new crypto exchange-traded fund (ETF). This ETF, however, would deal in Ethereum futures, rather than Bitcoin spot like many other applications currently under review by the regulatory body. The documents Grayscale filed on Tuesday clarify that the proposed fund would not transact in Ether and would not necessitate an Ether custodian. The company's application comes in the wake of a positive ruling last month where a federal judge overturned the SEC's denial of Grayscale’s request to convert its Bitcoin trust into a spot ETF. As Grayscale waits for the approval of its Bitcoin ETF, it anticipates that the Ethereum futures ETF will receive approval from the SEC. The SEC initially approved a Bitcoin futures ETF in 2021, allowing investors to speculate on future digital asset prices. Investors show a strong appetite for spot crypto ETFs, and numerous such applications are currently under the SEC's evaluation, including one from the world's largest asset manager, BlackRock. A crypto ETF would offer traditional investors a more secure way to get involved with the asset. ETFs are financial instruments that allow people to buy shares mirroring the price of an underlying asset. Therefore, a Bitcoin ETF would let investors involve themselves in the asset without having to worry about the storage and protection of their cryptocurrency holdings.
Judge Lewis Kaplan left the door open for SBF’s defense team to call some of the precluded witnesses in response to testimony presented by the government.
The former FTX CEO will remain in jail following three judges with the 2nd U.S. Circuit Court of Appeals calling the arguments behind a motion for release “unpersuasive.”
The financial regulator expressed its frustration at the lack of engagement from crypto firms in a strongly worded letter.
A Binance executive said the cryptocurrency exchange plans to delist stablecoins in the European market by June 2024 in order to comply with standards laid out by MiCA.